We have not even completed a week of trauma after the news on Sunday the 18th of march and all the brokers are all over the thousands of helpless Worldspreads Clients.
Instead of trying to help the clients some of these brokers are trying to use the
"SLY FOX BUSINESS APPROACH"
Please do not make any drastic decisions on opening new accounts at this stage this is my humble request.
The worst so far have been ETX and FXCM.
It is my request to all of those who are both pro traders and novice traders to stay out of the markets for a bit of time and reassess the situation.
Most of you know what I am talking about.
There is no need to take a revenge trade in the market as you need to be composed to trade and personally I don’t think any of us are in the right frame of mind to trade remember we can’t call tops and bottoms every single day in trading is a new day.
I have had emails from over 300 clients since the start of this blog who have lost from several hundred pounds to six digit figures and the horror stories continue. I am in the process of composing a letter to the FSA based on these emails and different cases.
Thank you for supporting this blog so far we have collected anonymous information about 2.5 million of the clients money lost within just three working days of starting this blog.
This is the time for us to work together and ensure we get all of our money back.
Currently I am going through a whole Worldspreads contract with someone legal as I need to get to the bottom of the "CLOSURE OF OPEN POSITIONS BY WORLDSPREADS"
How does a broker have the right to close the positions without any notice to the client .
I compare this to what we call in trading terms a margin call, when we have a shortage of margin our broker calls us to place extra funds in our account to maintain positions.
So in the same way does the industry need to provide something called a Broker Margin call....But oops I forgot FSA should have been looking at the accounts of Worldspreads on a daily basis to ensure that the broker does not get a margin call..Round and round we go. Somehow we will get to the bottom of this my friends.
Once again thank you very much for all you current support in helping other Worldspreads clients.
For any suggestions please email me on nshah10@hotmail.com.
Kind Regards
Rav
Instead of trying to help the clients some of these brokers are trying to use the
"SLY FOX BUSINESS APPROACH"
Please do not make any drastic decisions on opening new accounts at this stage this is my humble request.
The worst so far have been ETX and FXCM.
It is my request to all of those who are both pro traders and novice traders to stay out of the markets for a bit of time and reassess the situation.
Most of you know what I am talking about.
There is no need to take a revenge trade in the market as you need to be composed to trade and personally I don’t think any of us are in the right frame of mind to trade remember we can’t call tops and bottoms every single day in trading is a new day.
We are hoping to get some news by the end of this week about the claim initiation process from FSCS and after the claim has been initiated at least we know that stage one has been completed.
Thank you for supporting this blog so far we have collected anonymous information about 2.5 million of the clients money lost within just three working days of starting this blog.
This is the time for us to work together and ensure we get all of our money back.
Currently I am going through a whole Worldspreads contract with someone legal as I need to get to the bottom of the "CLOSURE OF OPEN POSITIONS BY WORLDSPREADS"
How does a broker have the right to close the positions without any notice to the client .
I compare this to what we call in trading terms a margin call, when we have a shortage of margin our broker calls us to place extra funds in our account to maintain positions.
So in the same way does the industry need to provide something called a Broker Margin call....But oops I forgot FSA should have been looking at the accounts of Worldspreads on a daily basis to ensure that the broker does not get a margin call..Round and round we go. Somehow we will get to the bottom of this my friends.
Once again thank you very much for all you current support in helping other Worldspreads clients.
For any suggestions please email me on nshah10@hotmail.com.
Kind Regards
Rav
Hi all like many people absolute anger and shock about the whole debacle.I for one got all my money in there and was doing really well taken the time and research into numerous companies over the last year.As of friday 16th march at 430pm all my positions were still open.Over the last weekend KMPG makes these annocements that all business is close.How could they have closed my positions when the markets were effectively closed?
ReplyDeleteI just cannot believe it what worldspreads has done I have read up on spreadbetting books including NTrader about the risks of leverage products etc , the fsa compensation scheme and client funds been in segretated accounts but nothing on fraud on this scale.I will personally take whatever legal action where necessary and hunt down the very persons that did this and take them to court.That if I dont get my moneys back