A website was recently published that uncovers scams that took place by Easy-Forex in Israel in the years 2005-2007 which robbed the money of many of their clients through false forex trades.
Easy Forex
The information presented in this website is based on a book that is due to be published. The book is backed-up by dozens of taped discussions that were transcribed after being tapped during the years 2005-2007 with Easy-Forex personal and customers.
The website starts by explaining how Forex companies makes money and why some of them have conflict of interest with their customers. It then explains how easy-forex rewards their agents- this is something crazy.
Next it brings transcripts of 3 discussions:
The first is with a former easy-forex agent that opens his hart.
The second of an easy-forex agent talking to a customer: This discussion shows how this agent is trying to deceit a one of his client.
The third transcript is with a victim, one of hundreds, of this agent.
The scams that was uncovered took place in Easy-Forex Israel. Yet, it is very much possible that the outraging rewarding method of Easy-Forex to their agent (called “net deposit”) took place also in other places in the world.
Don’t let their new website fool you. These are the same people with new outfit. The same people with the same intention.
Easy-Forex headquarter is located in Cyprus. They have offices in Israel, Australia, UK, US and I think also in the Philippines
The author is some Israeli guy that lost a lot of money through this scam
It is not clear if such scam took place elsewhere. As can be found on this website they speculate whether or not the “Net deposit” method was used also outside of Israel. If so, than maybe it was abused as happened in Israel.
Yet, the fact is that the whole idea was envisioned by the CEO of Easy-Forex sitting in Cyprus. If so, this means this is not a local Israeli thing. If this guy had no problem pushing his hands into his Israelis customers, why not do it elsewhere as well. And if its not possible because of regulations or other things, why not envision some other scam.
The fact that Forex companies place themselves on the other side of the deal is not new. Yet, companies that uses this to make sure there customers loss should be avoided. There are enough companies out there and Forex is as difficult as is.
Hi there,
do you think there’ll be any problems with my info (credit cards & personal info) which was already sent to them?? The 1st time i send, they responded with another request for it. I send again and then silence… To date, i’m still unable to close my account with them. All this took place before i came across info on this web. I was a niave newbie then & learn my lessons now.:eek:
Do you still have money in the account at Easy-Forex?
If so, do you have a problem withdrawing it?
If you don’t have money in the account I doubt they will abuse your credit card. They are not not stupid (I think)
Bottom line, if you still have money there, withdraw it, send them a signed letter asking them to close the account and transfer the money back.
[U]Case 2[/U] E-gold, Paypal,…etc SCAM
As we know E-Payment services like e-gold happened between only two accounts, where one for the trader and one for the broker.
Let me say that the value of your account (in case of e-gold) changes as there is changes in the current gold value and so on, but it never give you a return (Always by negative :()
[U]Case 3 [/U]Credit Cards, Master Cards,…etc
As we know it’s looks like wire transfer but with decreasing time frame for sending and receiving money. BUT YOU ENTERED YOUR CREDIT CARD INFO
Yes, always you have to notice he server security that the broker is using because it may a share server not a dedicated server.
All of them are https:// but not all of them are dedicated servers
So there an audit process should be done before using any service of those and this process should be done by trader and if he has no knowledge he should ask first some one has the knowledge
Ok, what I understood of this book at a simple sight of “Story1-Israel”, is that someone in Israel opened an office named Forex-Center, and this guy, Ran, used Easy-Forex as the broker. Please notice, that if I d&*# well feel like it, I could open an office here in Durango Mex, then to bring a lot of customers, promising the moon to increase their savings. So, for being able to do this, I have to use a broker. Easy-Forex had the bad luck to be the Ran’s broker.
Now, in the second story, in US, if you analyze the story pretty well (in case it is true), we all can be exposed for conexion troubles. Moreover, I wouldn�t trust my account to anybody to trade for me.
Maybe I am jerking off myself just because Easy-Forex is my broker trying to defend him. I will ask for an explanation to Him anyway.
I think my experience is different aswell… I’m based in London, England and signed up with them because they have $25 minimum bet sizes.
First I asked about the spreads because they seems quite wide even for fixed spreads, but they then gave me 2 pips on EUR/USD on my MT4 account, also just before I started trading they told me to just practice on their demo first and come down to their offices for some one on one training which I found quite suspicious…
However it was brilliant, they helped me work on some of my trading strategies and taugh me some of their own. It lasted about and hour and a half and I was offered to come back whenever I wished.
I much prefer this company to any other due to this one fact they offer you training or free which is unequal in respects to one on one training. Why pay some random Knowledge to action type company thousands of pounds when you can test the whole system out for free with Easy Forex…
:23:[B]Beware[/B] of a managed forex chop shop called [B]Equility Inc[/B].
Its run by a one man band [B]Maurice Roufe[/B]:47:. This guy has ran other managed sceems. his latest is Equility Inc. Incorporated out of arizona just this July 2011. The entire website is fraud with performance returns that are rediculous and completely unsupported. This guy preys on clients out of U.S. and uses brokerage firms out of U.S. to avoid the NFA he gets paid per trade win or lose. Your account will be gone over a short time while they profit! avoid Equility Inc. Managed forex at all cost. This trader has no education and busines trading. You have been warned dont let a website and a prospectus fool you.:mad:
