$1 billion forex scam

[herzy]

http://www.bloomberg.com/news/2014-...ce-1-billion-loss-as-trade-site-vanishes.html

Pretty interesting. Reminds me of something like Interactive Brokers. For all I know, they could be a fraud too! We (or at least I) am really not in the habit of checking these types of things.

 

[minwa]

http://www.bloomberg.com/news/2014-...ce-1-billion-loss-as-trade-site-vanishes.html

Pretty interesting. Reminds me of something like Interactive Brokers. For all I know, they could be a fraud too! We (or at least I) am really not in the habit of checking these types of things.

I don't see Interactive Brokers is anything like what's described. They don't guarantee principal, have no track record, do not manage your money, regulated by many exchanges and overseeing bodies in many different countries as they operate in many countries exhcanges, are publicly listed, been around for many decades, do not have letter/video testimonials.

 

[Trembling Hand]

http://www.bloomberg.com/news/2014-...ce-1-billion-loss-as-trade-site-vanishes.html

Pretty interesting. Reminds me of something like Interactive Brokers. For all I know, they could be a fraud too! We (or at least I) am really not in the habit of checking these types of things.

You should probably have spent the 1 min it took you to post this nonsense and check for yourself.

 

[herzy]

I don't see Interactive Brokers is anything like what's described. They don't guarantee principal, have no track record, do not manage your money, regulated by many exchanges and overseeing bodies in many different countries as they operate in many countries exhcanges, are publicly listed, been around for many decades, do not have letter/video testimonials.

Yes, sure - this was quite obviously scammy and IB is not.

All I meant is that the average consumer may not be aware of the difference, and both appear to be professional investment services (albeit of different types) that are fully online. I don't think the average consumer does the due diligence required to pick up certain scams like this.

I was surprised by the highly professional nature of the scam and the attention to detail.

You should probably have spent the 1 min it took you to post this nonsense and check for yourself.

What makes it nonsense? The fact that you wouldn't have been stung? $1 billion isn't nonsense. And I didn't get scammed, and am unlikely to. But we're not everyone. Thought people might be interested in reading about the complexity and highly detailed nature of the scams, especially as it affects consumer sentiment towards 'markets', investing, forex etc. It entrenches the idea that trading is inherently risky, etc etc.

 

[Trembling Hand]

What makes it nonsense? The fact that you wouldn't have been stung? $1 billion isn't nonsense. And I didn't get scammed, and am unlikely to. But we're not everyone. Thought people might be interested in reading about the complexity and highly detailed nature of the scams, especially as it affects consumer sentiment towards 'markets', investing, forex etc. It entrenches the idea that trading is inherently risky, etc etc.

What are you talking about? IB is a listed company that provides brokerage, backed by insurance, exchanges and regulators. How has that got anything to do with a website offering 1% returns a day??!!

 

[Modest]

People are dumb that site looks sketchy as hell and who just drops money into a thing like this without doing research, they deserve to lose it. Naivety at it's greatest.

 

[Muttata]

People are dumb that site looks sketchy as hell and who just drops money into a thing like this without doing research, they deserve to lose it. Naivety at it's greatest.

Yeah. Just another example of a predator taking advantage of the prey. This whole industry is built on the back of that - always has been! If you are dumb enough to put money into something like that which seems too good to be true, then you are prey. Sorry for those people, but they are very naïve.

 

[herzy]

What are you talking about? IB is a listed company that provides brokerage, backed by insurance, exchanges and regulators. How has that got anything to do with a website offering 1% returns a day??!!

My point is to amateurs they may look similar.

People are dumb that site looks sketchy as hell and who just drops money into a thing like this without doing research, they deserve to lose it. Naivety at it's greatest.

Exactly.

 

[So_Cynical]

http://www.bloomberg.com/news/2014-...ce-1-billion-loss-as-trade-site-vanishes.html

Pretty interesting. Reminds me of something like Interactive Brokers. For all I know, they could be a fraud too!

For all i know you could be full of ****, A scam is a scam, IB is no scam..Thomas Peterffy is the founder of IB, do some reading and gain some knowledge/insight.

http://en.wikipedia.org/wiki/Thomas_Peterffy

 

[>Apocalypto<]

http://www.bloomberg.com/news/2014-...ce-1-billion-loss-as-trade-site-vanishes.html

Pretty interesting. Reminds me of something like Interactive Brokers. For all I know, they could be a fraud too! We (or at least I) am really not in the habit of checking these types of things.

how you can compare IB to that ponzi, i just don't know.