ForexGen.com SCAM WARNING - Traders, Watch Out!

I know this will not help many who get blineded by the dream to profit big in forex for the first time, but novice traders, please read this so you don't get into the corner I found myself in, losing most of my money because this bastrad of all bastards who you call Felix, and i call demitri or the real brain behind all this scam, a guy called Bruce Hoffman from Texas(convicted for many fraud crimes and spent time in jail).
This little punch of people doing what at least can be described as organized crime, inlcuding many other identities like Rob, Grespi, Rick, Ghafour, Rasheid, Omar, and many more masks....all fake

They promote their signal service, fooling novice forex traders to count on them in trading the news. they have caused hundreds of people to lose big money. they even dare to promise you if you lose that they can blackmail the broker to get you your money back.They have done that several times and we have seen traders burned by their flames, and they try to flame brokers too, some times succeed and others not. Google for felix combined with Oanda, interbankFX, FXCM, Forex.com, and any broker of your choice, you will see their scams, a replica used with tens of brokers over the past 3 years, and the victims, hundreds of traders who get broke.

See what I found about those bunch of crooks on the web, and don't ask me, I have been also burned by these theives.

The email sent by Felix the bastard:
"Hi there
One of my full time forex trading buddies just had a serious problem happen. He had an account with www.Interbankfx.com with $620,000 of real money in it. They went through some "technical difficulties", executed a bunch of trades that he didn't execute, margin called him, e.t.c. Long story short, lost him $280,000 in a matter of days, because of "technical difficulties".
Then he spoke to the CEO of the company, who shook his hand, admitted that these were indeed technical difficulties, and he would take care of him.
Now, they are dropping the ball on him, saying that he is a beginner trader, and it was all his fault...I mean these guys opened some trades while this guy was out of town!
Having this website, I get a bunch of different complaining emails from people, and obviously I usually don't email about people's problems to you. But in all honesty, I know this guy very well personally, I've seen his account statements, and I know he is not bullshitting me. I mean this guy was making hundreds of thousands in forex, while I was still in high school, and didn't even know what the word forex meant. And by the way, it's not Tom or Rob...it's somebody else.
Here is the real reason why I am emailing you. This guy has a lawsuit going against Interbank FX right now, he already has a federal attorney involved, and he is trying to shut these suckers down, in addition to getting some of his money back.
If you had an account with Interbank FX, and you also feel you got "screwed" by them, then perhaps you could add yourself to the lawsuit, and recover some of your losses, and put an extra complaint against them to get them shut down.
If you want to get involved in this or have some other helpful information for my friend, please don't respond to this email, instead send an email with your story to interbankfxfraud@forexbastards.com
To Our Success!
-Felix Homogratus"

Posted by GreenField (Member # 2533) on June 20, 2006 02:45 PMJune 20, 2006 02:45 PM:
So now we hear from both sides, let us think about it, make good judgement, and do further research if we have to.
Know the truth and the truth will set you free.
Here is the email I got from Interbankfx:
Hello Mr. Chang,
I appreciate your comments and we have to say that we are saddened by the potential impact that lies and rumors can cause. To help you help us to combat these types of deceptions, we are providing you additional details which you can distribute. They are a summary of a 6 page response letter which was sent to Cashmonsterz clients.
Warm regards,
Javier H. Paz
Institutional Sales Director
A reckless and unprincipled trader named Carlos Roman, of Cashmonsterz, has apparently asked his buddy Dmitri (Felix) of www.forexbastards.com to defame Interbank FX. Carlos turned $370,000 into a $100,000 master account in a matter of days. His approach to trading was to max out the available margin of the master, to close the positive side of trades and let the open losses ride with the hope that the market would turn around. In sideways markets this approach might work many times, but on May 11 and 12 the British pound trended on a big way and touched 1.9000, forcing him to place a hedge 600 pips wide! After that point, the sub-accounts were on intensive care. He called multiple times asking us to cancel the trades with the promise of bringing more clients to us. We told him we couldn't do this for him. To complicate matters further, he changed Pamm settings an average of once a day and kept on trading aggressively taking many accounts to a margin call situation. The more he changed the Pamm settings, the more difficult it was to perfectly hedge open positions. Throughout this period, Interbank FX tried all within its power to make sure that subaccounts were hedged, but things evolved to a point were several subaccounts could no longer be hedged because they had fallen below the 100% margin level.

Posted by stevegee58 (Member # 4086) on June 20, 2006 03:01 PMJune 20, 2006 03:01 PM
My god. If I'd been pushing trades with my *own* money to the max like that I'd be sh1tting my pants. If it was other people's money, I'd jump out a freaking window if I wasn't dead from a coronary already.
Posted by FisherKing (Member # 3924) on June 20, 2006 03:05 PMJune 20, 2006 03:05 PM:
I'm going to have to believe Intebankfx on this one.
Posted by Piprider (Member # 4331) on June 20, 2006 03:24 PMJune 20, 2006 03:24 PM:
I will believe interbank fx too. It looks like Mr. D u m b A s s was good enough to attract money from clients - good enough to feel it is a marketable enough skill to offer it in trade for having his dealer take the losses of the positions he accumulated but with money management skills equivalent to those of Danielgsx. Then, he tries to mitigate the damage by trying to play on the public opinion's general distrust of market makers. He should have partnered up with someone who can really trade and relegated himself solely to the solicitation of funds from clients. Instead, he took everyone to the crapper at lightspeed.

Posted by OrlandoFlyBoy (Member # 3974) on June 21, 2006 10:20 AMJune 21, 2006 10:20 AM:
Well, I don't get it. It appears that they are talking about two different things, but making it sound like the same thing.
Was this a platform error that executed trades by itself, a newbee trader that traded badly, a managed account where the "manager" traded badly (without the account holder's permission, or against the wishes of how the account would be traded), or Interbank FX hedging that went haywire?
Someone make it clear exactly what happened, in order, so that it is clear what the complaint is
Posted by mobbbb (Member # 7422) on June 21, 2006 10:25 AMJune 21, 2006 10:25 AM:
Maybe a gohst entered the trades and then vanished while the asset manager was gone ?
Posted by PIPCANADA26 (Member # 9133) on July 12, 2006 06:28 AMJuly 12, 2006 06:28 AM:
I went to a conference provided by Interbank here in Canada and by the way some people mention this topic and the representative from InterbankFX did say The CEO Crosland was going to reimburse Cashmonsters Investors For this failures.
I wonder the same why Interbank doesn't just sue Cashmonsters? legally who can prove the truth will win but by the way, then if Cashmonsters is right then they could squiz the big bucks from Interbank for defamation if they have a failure that causes those losses and more than that for revaling the traders name.
Was a bit impossible for me to believe that a serious company can have such failure in their software but when I saw this letter from this executive Paz I understood must be right, when you don't have nothing to excuse you just have to be quiet, why then give explanations? When people asked what this PAMM in question is they explained works for Percentage Allocation Money Manager is used for professional traders who manage several accounts you can set to distribute by percentage or by lots, usually they said you set it once and never again. Paz mention in his post Cashmonsters Trader Changed the Pamm every day. I want to believe that but I can't. Reason Simply. when another assistant to this seminar asked why a trader would want to change every day the pamm settings he just said. "I don't know" again, I'm a lawyer and that for me indicates a lie.
In the other hand I asked what "hedge" term means and found that is short and long the same currency in the same account then this phrase make no sense from Interbank: "May 11 and 12 the British pound trended on a big way and touched 1.9000, forcing him to place a hedge 600 pips wide" Nobody gets forced to do nothing in Forex markets at least not even a new trader places a trade being forced by a Jedi Mind.
Making math 1.9000 - 600 pips= 1.8300 here is my Idea if this guy cashmonster is as good as everybody claim he was going to get not only those 600 pips back but maybe another 120 total 720 profit on the short side from the hedge, maybe such big earnings from Cashmonsters are not convenient from a company as Interbank plus trading with 620k I believe then is not hard to duplicate or triplicate an account. (I saw the pound as Paz Mentioned in his post and it went down to 1.8085 from 1.9000 that he claim is the top of the problem)
As A lawyer I can say that if Interbank is right they can file a federal law suit against cashmonsters where they just need to proof they trade trying to loose money. The problem for Interbank is that as far as I can see Cashmonters has not made any comments or post as Interbank do a self defense. They can not then complain Defamation. Here the Note from Zelli is good idea record your calls but that is illegal so wont be valid unless both sides agreed that both are being recorded. Then if interbank has Cashmonsters calls recorded they will win this case. I would love to hear Cashmonsters begging with the promises of more clients but I guess we wont see that. I wont open my possible self traded account with Interbank anymore and I wont open a managed account with Cashmonsters I would love to see who lies and who is honest but I want to trade I will open my account with Oanda and another one with FXSOL. Any comments about FXSOL will be truly appreciated.Cashmonsters is famous for aggressive trading then 600 pips in question should be piece of cake for an aggressive trader, Interbank is famous for the 2 pips of spread and now for revealing names. I wonder then If Interbank detected a bad trader placing crazy trades why they just did not stop or block his trading screen? Interbank make money for every trade trough the spread. I do not need to conclude then more.
Looking then at Cashmonsters side, Defamation if Interbank is proven wrong can be a big problem for this company. They made public the name of the trader. Reason for which I would not open my account with Interbank Even if I was happy with what this guys proposed in this seminar here in Canada.
Why? well I consider that they fail in the "discretionary code" that every company should have. and by the way is included at Interbanks agreement, another reason for me to give a point to Cashmonsters. And Finally and to conclude, when the representative from Interbank at the seminar mention that Crosland CEO from Interbak was going to reimburse the Investors that ringed my Lawyer heart. this CEO is smart who will want to have a bunch of complains at the NFA, CFTC and a pissed Trader claiming big bucks for defamation? what's the amount in the middle? 620k I guess that is piece of cake for Interbank to cover and avoid "interbank" as a post in Oandas Forum. Nothing more disturbing. 2 great firms now full of dirt who will get clean? I don't know and I don't care I will trade at Oanda and FXSOL myself.

1.Felix Homogratus AKA "DIMITRI", Rob Grespi the owners of http://www.forexbastards.com are always looking to make quick money from the novice traders by hiding under the entity of http://www.forexbastards.com and similar sites and using it to publish public opinions about respectable brokerage firms whom they are considering as competitors; do not get fooled by theses scammers because this is the only way they can pay their bills, their victims are every where (you have been warned)!!!! They have a whole scam section every where just start searching about them on the web and you will be amazed
2. Felix Homogratus, Rob Grespi AKA "DIMITRI" the owners of http://www.forexbastards.com are big scammers many people have bought their stupid www.forexfreedom.com system and it was a major scam these guys are fools they have copied and pasted some crap into their claimed system and selling it to novice traders and make quick money from them. Do not go near them.
3. We know you are a major scam Felix!!! The words spreading like fire you and your http://www.forexbastards.com can not hide any more
4. This is what I found out about this "FELIX" http://www.forexbastards.com SCAMMER GUY looks like he is leaving a trail of destruction every where he goes the list of victims is growing its staggering. It's nice to see his victims unite to inform the public about this PROFFESSIONAL SCAMMER!!!!!
SITES WITH COMPLAINT ON THIS GUY
http://www.felixbastard.com/
www.peterbainscam.com
http://www.setbb.com/forexjudge/
http://www.talkgold.com/forum/r107900-.html
HIS GROWING LIST OF SCAM JUNK SITES.
www.forexfreedom.com
WWW.kingofforexsignal.COM
WWW.FOREXBASTARDS.COM
5. Hi guys I love your creative post! I USED TO BE a client of Dimitri or Felix the liar at www.forexbastards.com . And this guy is a total scam his system is garbage, after using his bogus chat room and signals! "now" I understand why he lost his trading account and money. He has a real conflict of interest going there he calls all of his competitors scams. Just so he can promote his garbage. I lost a lot of money following his advice a few thousand
Stay away from his bogus news trading and stupid alert service. They all lose money. I subscribed with one of the people he called a scam and they turned out to be very profitable. And I even submitted a positive testimonial for www.fxringleader.com & winningtraderassociation and it never made it. !!!! Hummm I guess felix is a scum bag snake oil scammer / con artist.
6. I lost money on this www.kingforexsignal.com and that stupid www.freedomforex.com promoted by www.forexbastards.com
7. This scam artist Felix AKA Dimitri always says that "If you were scammed by these people, please write to me, and I will help you get your money back" what this snack means I WILL STEAL YOUR MONEY!!!! Be warned guys never go near him of his www.forexbastards.com scam

WELCOME TO FOREXGEN - Swiss Precision - Scandinavian Quality :

1-No Swaps - Unlimited Time.
2- 1 pip spread on 10 pairs.
3- Low Spreads on Crosses.
4- No Commissions.
5- No Margin Calls.
6- No Withdrawal Fees.
7- Same Day Withdrawals.
8- Hedging Capabilities.
9- Multi Account Platform.
10- Instant Deposits.
11- No Dealing Desk Accounts.
12- Excellent Support.
13- Premium Trading Tools.
14- Partnership Programs.
15- Instant Account Activation.
16- Standard, Mini and Micro Lots.

For More Information Visit : www.forexgen.com .

Be Aware Traders .... Scam in The Forex Market

As the popularity of Forex increases so do the number of scam artists attempting to cash in on the Forex gravy train. Since Forex involves trading money internationally, often over the Internet, whole new breeds of scams have come about. Ironically many of these scam artists are finding their marks through newspaper, television or other print media advertisements.

Like what is happening , you can see that a group of scammers try to blackmail the companies , they aim at the big brokers...this have happened with ForexGen ,they tried to blakmail it, a group of scammers or as they supposed to be called an organization, This little punch of people doing what at least can be described as organized crime.

They promote their signal service, fooling and deceiving novice forex traders to count on them in trading the news. they have caused hundreds of people to lose big money. they even dare to promise you if you lose that they can blackmail the broker to get you your money back. They have done that several times and we have seen traders burned by their flames, and they try to flame brokers too, some times succeed and others not. Google for felix combined with Oanda, interbankFX, FXCM, Forex.com, and any broker of your choice, you will see their scams, a replica used with tens of brokers over the past 3 years, and the victims, hundreds of traders who get broke.

While these scams are generally easily spotted by experienced traders, new speculators may have problems knowing the difference between what is real and what isn't. It is absolutely essential to thoroughly research Forex trading, and any potential companies you may trade with before making an initial investment. The last thing you need is to find out that the company you have invested with is under investigation by the SEC for fraud. In this type of circumstance it can often be impossible to retrieve your money as the claims from all fraud of participants will be higher than the total payouts the government can guarantee.

One way to spot a scam on Forex is when someone promoting a Forex system guarantees no risk. It is a fact that there is risk with Forx trading, and generally anyone who claims otherwise is a liar, or more likely a criminal. Trading in Forex successfully requires knowledge, discipline, and a trading strategy. But there is no magic software or no risk way to assure that you will make money.

Another red flag indicating a sure sign of a Forex scam is a web site that guarantees profits. Nobody can guarantee profits in Forex trading. It is up to you as an investor to perform. If it were possible to guarantee profits in Forex trading then nobody would need to start a business showing others how to make guaranteed profits. The profit potential for anyone who could guarantee profits would be so enormous in Forex trading, that they would quickly become a billionaire by trades. So why would they waste time teaching others?

Another common tactic of Forex scam artists is to promise employment opportunities for people using their system. This is usually a trick to get you to spend your money with them. They are fishing for people with capital who can fund their enterprise. They typically promise to offer firm money to people using their system. But why would they do this? Instead what happens is they lure people into their training systems and convince people that they have done so well in the training session that they should start using their real money in order to make a fortune.

All reputable Forex trading web sites will be a member of the CFTC or the NFA. Make sure to check the company's claims out and assure that they are members of one of these organizations before dealing with them.

Keep in mind that Forex is a relatively unregulated system of exchanging money. In many cases Forex scams can become highly technical, involving brokers manipulating prices in ways that cannot be tracked by the average trader. Because of this is essential that you not become a mark for such brokers.

In the United States the CFTC is the federal agency responsible for regulating the trade of Forex currency. If you suspect that you have been a victim of some type of fraud contact the CFTC. They have jurisdiction for investigating and enforcing the laws.
and each country has its own agency and regulation system .so its not only the CFTC that you should b looking for .

Winning Cash Money is reality With ForexGen

New phase in ForexGen ....Who doesnt like to make money easly?.... this is a question that forexgen have asked and here it is the answer for such question ...NO ONE .....But How ?!!this one ForexGen answered by the following promotions it is offering to its clients, and future clients.

ForexGen has came up with different promotions :

1- Demo contest.

2- Live contest.

3- claim your bonus.

4- Scalping enabled account.

5- refering clients.

The First promotion :The Demo contest :

it begins at the begining of each month , and all you have to do is to send an email request to demo.contest@forexgen.com and after we receive your request we will provide you with further details and with your demo account login information which will be used in the trading contest.

By the end of each contest:

1. All participants that manages to open at least 20 lots will be awarded a Live Account with $50 credit .

2. All participants that manages to open at least 20 lots and keep their demo account initial balance will be awarded a Live Account with $100 credit

3. The highest 5 accounts with the highest profits (including the floating P/L) will be awarded a Live Account with $250 credit.

The Second promotion :The Live Contest :

Three easy steps to get a cash back money in the beginning of each month
Trading, Competing, Wining ….
That’s what is takes …
With pleasure ForexGen announce the launching of its Unique Live Account Contest.

Watch Out Traders, Its not a virtual contest , its now the time of a live contest

Who ever holds a mini account is entitled to take part in this competition starting the first of each month the tablet is expunged completely and every one has a new beginning to win the prices.

Why IT’S unique?
CASH MONEY without any restrains or limitations on withdrawing the prize money!

HOW TO TAKE PART IN IT?
If you hold a mini account with balance $1000 and leverage 1:200, then you are entitled to take part in it on your request , all you have to do is to send an email to live.contest@forexgen.com requesting to participate along with your “ live account number “

By the end of each month, the top 5 accounts with the highest profits (including floating P/L) will be awarded the following prizes:

First place: 50% of the account profit

Second place: 40% of the account profit

Third place: 30% of the account profit

Fourth place: 20% of the account profit

Fifth place: 10% of the account profit

(Profits will be added to the live account balance)

The contest starts on the first Sunday of each month at 10 pm GMT and ends on the last Friday of that month at 10 pm GMT.
Winners will be announced by the 15th of the following month.

The Third promotion :Claim your bomus :

this is one of the best promtotions that forexgen has to offer to its clients, as as soon as you open a live account with forexgen , you are entitled to get a cash back bonus credited to your account as follows :

mini account : 10% of your deposit with maximum $250.

standard account: 10% of your deposit with maximum of $500.

The Forth promotion : Scalping enabled accounts :

Trade and scalp the market ForexGen has the pleasure to announce the availability of both Dealing Desk and No Dealing Desk Platforms. No Dealing option provide traders with direct access to the best bid/ask prices through multiple bank access. No re-quotes & No dealer confirmation is the main characteristic of the no dealing option made specifically for “scalpers” and active FX professionals. Absolute freedom to trade during news and economic events. The no dealing desk option allows traders to place entry orders inside the spread! Unlike competing FX firms, ForexGen offers traders all the advantage of a “no dealing desk” option.

The Fifth promotion : Refer a client :

If you have any friends who trade in the Forex market, and may be interested in joining ForexGen.com, why not get a FREE cash bonus from their trading activities?The referring party will receive $100 USD to their ForexGen account, at the end of the month in which the following criteria are met:

1. The referred party has opened a live standard account of at least $2,500 USD and has traded 20 round turn lots.
2. The referred party has opened a live mini account of at least $250 USD and trades 20 round turn lot, the referring party receives $10 to their ForexGen account.

For more information about our current and future promotions, please visit: www.forexgen.com .