JadeFX

[anton1713006147]

I am using jadefx as my broker. Now, as we know jadefx is facing problem.

 

please anybody give your suggestion what I should do.

 

Who else here is also using jadefx? Please speak up share idea to response the situation.

 

Thank you

[icemaneu]

I am using jadefx as my broker. Now, as we know jadefx is facing problem.

 

please anybody give your suggestion what I should do.

 

Who else here is also using jadefx? Please speak up share idea to response the situation.

 

Thank you

 

So far you can find detail discussion in donnaforex forum. google it for the site.

[anton1713006147]

thank you icemaneu

 

So far you can find detail discussion in donnaforex forum. google it for the site.

[icemaneu]

Result of the investigation by CFTC: Jadefx is a scam and Jadefx did not segregate clients' money from Jadefx's own bank account. Jadefx also did not trade all clients' money in forex market but use it for it's own purpose.

 

http://www.cftc.gov/PressRoom/PressReleases/pr5997-11.html

"Defendants allegedly made explicit but false guarantees on the JadeFx website including that (1) all customer funds are traded in forex, (2) customer funds are completely segregated from JadeFX’s operating accounts and (3) customer funds were protected from bankruptcy.

 

Instead of segregating customer money into separate accounts, Omukwe allegedly pooled all customer funds together into bank accounts that he exclusively controlled. From these bank accounts, only a portion of customer money was traded in forex. Omukwe allegedly misappropriated the remaining funds to pay for personal and business expenses, including the operational costs of JadeFX and Jade."

[Sneed]

I guess I should thank Mr. Omukwe (Progressapama) for closing my account on me when he moved the company. At least I got a refund when there was still some money available. I guess CFTC, must have received a complaint from a customer in order for them to act so aggressively and to uncover so much corruption. But, I still wish that CFTC would leave us "experienced" traders alone, and allow us to hedge (at our own risk), and also get rid of that FIFO rule. They should just do what they do best, which is investigate corruption, as they did here. #:-S

 

Result of the investigation by CFTC: Jadefx is a scam and Jadefx did not segregate clients' money from Jadefx's own bank account. Jadefx also did not trade all clients' money in forex market but use it for it's own purpose.

 

http://www.cftc.gov/PressRoom/PressReleases/pr5997-11.html

"Defendants allegedly made explicit but false guarantees on the JadeFx website including that (1) all customer funds are traded in forex, (2) customer funds are completely segregated from JadeFX’s operating accounts and (3) customer funds were protected from bankruptcy.

 

Instead of segregating customer money into separate accounts, Omukwe allegedly pooled all customer funds together into bank accounts that he exclusively controlled. From these bank accounts, only a portion of customer money was traded in forex. Omukwe allegedly misappropriated the remaining funds to pay for personal and business expenses, including the operational costs of JadeFX and Jade."

[chankl78]

Sigh.. At least we still know Jadefx is a big liar....

 

Another confirmation for finding a new broker again.. sigh....

 

Smile

Chankl78

[zoop]

yes, he is a crook

 

 

 

http://host.madison.com/wsj/news/local/crime_and_courts/article_bd189eea-4b78-11e0-871e-001cc4c002e0.html

[apresau]

Update

 

http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/14335-jadefx-shut-down-cftc.html

 

looks like they are no more.

[jessica_30]

Thank you for the information posted here. I am more aware of the trend and thank you for all the updates.

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