anton1713006147 Posted March 5, 2011 Report Share Posted March 5, 2011 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 Quote Link to comment Share on other sites More sharing options...
icemaneu Posted March 5, 2011 Report Share Posted March 5, 2011 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. Quote Link to comment Share on other sites More sharing options...
anton1713006147 Posted March 7, 2011 Report Share Posted March 7, 2011 thank you icemaneu So far you can find detail discussion in donnaforex forum. google it for the site. Quote Link to comment Share on other sites More sharing options...
icemaneu Posted March 9, 2011 Report Share Posted March 9, 2011 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 1 Quote Link to comment Share on other sites More sharing options...
Sneed Posted March 9, 2011 Report Share Posted March 9, 2011 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." Quote Link to comment Share on other sites More sharing options...
chankl78 Posted March 10, 2011 Report Share Posted March 10, 2011 Sigh.. At least we still know Jadefx is a big liar.... Another confirmation for finding a new broker again.. sigh.... Smile Chankl78 Quote Link to comment Share on other sites More sharing options...
zoop Posted March 15, 2011 Report Share Posted March 15, 2011 yes, he is a crook   http://host.madison.com/wsj/news/local/crime_and_courts/article_bd189eea-4b78-11e0-871e-001cc4c002e0.html Quote Link to comment Share on other sites More sharing options...
apresau Posted March 16, 2011 Report Share Posted March 16, 2011 Update http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/14335-jadefx-shut-down-cftc.html looks like they are no more. Quote Link to comment Share on other sites More sharing options...
jessica_30 Posted May 8, 2011 Report Share Posted May 8, 2011 Thank you for the information posted here. I am more aware of the trend and thank you for all the updates. http://imagicon.info/cat/3-4/1.gifhttp://imagicon.info/cat/3-8/1.gifhttp://imagicon.info/cat/3-5/1.gifhttp://imagicon.info/cat/3-1/1.gifhttp://imagicon.info/cat/3-6/1.gifhttp://imagicon.info/cat/3-2/1.gifhttp://imagicon.info/cat/3-3/1.gif Quote Link to comment Share on other sites More sharing options...
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