FOREX QUANT

May 3, 2007

Concern about the future of IBFX business

Filed under: Uncategorized — by TraderMade @ 11:07 pm
Tags: , , ,

National Futures Associataion (NFA) has recently filed a complaint to Interbank FX and its principal, Mr. Crossland. The issue has been a major concern to the metatrader user, especially those who has account with Interbank FX. (That is including me. )
After reading the case sumary, I understand that the issue is about false claim in marketing materials, and nothing to do with unfair dealing practices nor any management frauds.

But still I have this thing in my head, since I have my money with them. So I sent this message to Patrick Nouvion to have his direct opinion on this matter.

Dear patrick,
I am a regular reader of your blog.
I can understand that you are the correct person i can ask this question and expect a good answer.
It is about the recent NFA action against Interbankfx.
I read it here at this link.
What do you think of this. How will this affect the future of interbankfx business ?
I am concerning my money in the account, but i worry more on if interbankfx has to stop its operation, it will be a huge loss to the metatrader fans. ibfx is a valuable asset to metatrader fans community.
Thank you in advance for any answer from you..

Rgrds,
Darma

and this is reply from Patrick:

Hi Darma,

There is really nothing to worry about, IBFX will certainly have to pay some fines but nothing that endangers their business Smile
If you really into the NFA’s document you will see that the reasons for these fines were more marketing/advertising issues than business operations …
IBFX will not go out of business over that type of issues Smile
_________________
Patrick Mr. Green
Visit my Website

So, we can all sleep in peace. LOL
Again we all can see a good practice of NFA in regulating OTC brokers in the US.

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