Topic: [ANN] Btc4x.com - First Forex to accept Bitcoin! (Read 5637 times)
Time for you to end it. It would be best if you: stop stealing, return all clients funds, and close your business.
Wow, someone ruined their reputation fast. Thanks for the detective work guys.
Copied from the other thread where I'm calling these guys out:
LOL and I totally missed this:
Absolute lie! Alpari won the best Forex broker in UK and Europe in 2011 from the IBTimes...the website totally falsified its awards.
http://www.alpari.co.uk/en/cnews/show/id/1899/
LOL and I totally missed this:
Absolute lie! Alpari won the best Forex broker in UK and Europe in 2011 from the IBTimes...the website totally falsified its awards.
http://www.alpari.co.uk/en/cnews/show/id/1899/
This is the clearest scam I have seen in a long time. Why has a moderator not deleted this thread and banned the associated individuals?
- Your firm is NOT regulated by the FSA and you are lying when you claim to be. Everyone follow these steps:
1. Go to http://www.fsa.gov.uk/register/firmSearchForm.do
2. Type 217689 (This is FXCM - a regulated, respected, and legal broker)
3. Click regulators
4. Notice how it says, "Financial Services Authority" - FXCM is legally regulated
5. Follow step 1-2 with 194835 (The number for VenetFX)
6. Click regulators
7. Notice the void? VenetFX is NOT regulated by the FSA and they claim to be
8. Now click the permissions link for each of the above firms. VenetFX is NOT authorized to transact in foreign exchange, contracts for difference, or spot forex
- All you have done is create a company and register it with the FSA - I have personally done the same and have my trading firm listed with the NFA. If I were to turn around and offer a brokerage service and claim that I am regulated by the NFA, I would go to jail - which is what may happen to you in the near future.
- It is illegal to solicit foreign exchange business in the United States without being registered with the CFTC and NFA as a RFED
http://www.cftc.gov/PressRoom/PressReleases/pr5883-10
- The maximum legal leverage in the U.S. is 50:1 - by offering your service to Americans, you are violating our laws
http://www.ecfr.gov/cgi-bin/retrieveECFR?gp=1&SID=bb4e8713bff1ff87626ea3fb658a963d&ty=HTML&h=L&n=12y1.0.1.1.42&r=PART#12:1.0.1.1.42.0.9.9
- The logic and claims of the website are entirely flawed
-- "Yes, your Bitcoin deposits are never converted into fiat or any other form"
-- When you "buy" EUR/USD, you are selling dollars to buy euros. To say that you can trade currencies without converting your BTC is a straight-up lie. This claim blatantly tells you that they are trading against customers or just stealing money.
- I have reported this firm and its "subsidiary" to the FSA
- We comply to all local regulations. Clients should be compliant with their local regulations.
- Your firm is NOT regulated by the FSA and you are lying when you claim to be. Everyone follow these steps:
1. Go to http://www.fsa.gov.uk/register/firmSearchForm.do
2. Type 217689 (This is FXCM - a regulated, respected, and legal broker)
3. Click regulators
4. Notice how it says, "Financial Services Authority" - FXCM is legally regulated
5. Follow step 1-2 with 194835 (The number for VenetFX)
6. Click regulators
7. Notice the void? VenetFX is NOT regulated by the FSA and they claim to be
8. Now click the permissions link for each of the above firms. VenetFX is NOT authorized to transact in foreign exchange, contracts for difference, or spot forex
- All you have done is create a company and register it with the FSA - I have personally done the same and have my trading firm listed with the NFA. If I were to turn around and offer a brokerage service and claim that I am regulated by the NFA, I would go to jail - which is what may happen to you in the near future.
- It is illegal to solicit foreign exchange business in the United States without being registered with the CFTC and NFA as a RFED
http://www.cftc.gov/PressRoom/PressReleases/pr5883-10
- The maximum legal leverage in the U.S. is 50:1 - by offering your service to Americans, you are violating our laws
http://www.ecfr.gov/cgi-bin/retrieveECFR?gp=1&SID=bb4e8713bff1ff87626ea3fb658a963d&ty=HTML&h=L&n=12y1.0.1.1.42&r=PART#12:1.0.1.1.42.0.9.9
- The logic and claims of the website are entirely flawed
-- "Yes, your Bitcoin deposits are never converted into fiat or any other form"
-- When you "buy" EUR/USD, you are selling dollars to buy euros. To say that you can trade currencies without converting your BTC is a straight-up lie. This claim blatantly tells you that they are trading against customers or just stealing money.
- I have reported this firm and its "subsidiary" to the FSA
For what it is worth, highly leveraged speculative trading, based on, or funded by, an easily manipulated, theoretically valued measure of worth has never been successful. Every single attempt in this community has led to a collapse, and the inevitable cries of scam, without regard to how pure the motives or a personal IP registration extending to 14 months.
Forex without the added complication of bitcoin is already a very, very questionable marketplace, Throw in bitcoin and the gang of bandits looking at it as a personal checkbook filled with millions of other people's money and you have a surefire recipe for disaster.
Forex without the added complication of bitcoin is already a very, very questionable marketplace, Throw in bitcoin and the gang of bandits looking at it as a personal checkbook filled with millions of other people's money and you have a surefire recipe for disaster.
For what its worth, I traded with kakobrekla back in 2011 for about 100 BTC and the whois matches his physical and email address back then.
Is the btc4x.com site yours?
Bit4x.com and smpake.com are both mine and are registered on my name.
You should make your personal information public otherwise we will all think you are a scammer.
http://www.whois.com/whois/smpake.com
http://www.whois.com/whois/bit4x.com
Is the btc4x.com site yours?
Bit4x.com and smpake.com are both mine and are registered on my name.
You should make your personal information public otherwise we will all think you are a scammer.
Name
Address
Phone
DOB
SSN
etc..
Can you blame me?
Is the btc4x.com site yours?
Bit4x.com and smpake.com are both mine and are registered on my name.
Kinda wish they had an api (from what I see they don't make any mention of it), so i can make a bot, I really don't want to sit here and actually trade that is boring, BTC4X get on that API!
MT4 internal API is available: http://docs.mql4.com/
Is the btc4x.com site yours?
There seems to be a confusion and it's my fault.
I have changed the above, to make it clearer:
You can NOT trade BTC/USD on MetaTrader 4 platform, but all Forex established pairs are available to trade with Bitcoins.
Thanks for understanding.
Quote
Bit4X enables you to trade over 30 currency pairs on...
I have changed the above, to make it clearer:
Quote
Bit4X enables you to trade over 30 Forex currency pairs on...
You can NOT trade BTC/USD on MetaTrader 4 platform, but all Forex established pairs are available to trade with Bitcoins.
Thanks for understanding.
It must be scam just because 10010 BTC right now would cause them to buy/sell more BTC to execute 1:1000 leveraged orders, then bitcoins in existance (~10M BTC)!
Or just think of that get-rich-quick theme:
Lets say I got 1000 BTC in total.
I put 900 BTC in a SELL order at 20$.
Then I fire up my 1:1000 account on BTC4x.com with the remaining 100 BTC. I execute a BUY order for 100k BTC
--> price shoots up to 20.02$! on MtGox (if all 100k BTC were to be bought there)
My 900 BTC were justsold for 20$ each (63% profit). I could completely loose my 100 BTC on btc4x.com now and still pocket a huge instant gain (I probably wouldnt loose much because price would rally up to somewhere below 20$, so I could still sell at a small loss).
Or just think of that get-rich-quick theme:
Lets say I got 1000 BTC in total.
I put 900 BTC in a SELL order at 20$.
Then I fire up my 1:1000 account on BTC4x.com with the remaining 100 BTC. I execute a BUY order for 100k BTC
--> price shoots up to 20.02$! on MtGox (if all 100k BTC were to be bought there)
My 900 BTC were justsold for 20$ each (63% profit). I could completely loose my 100 BTC on btc4x.com now and still pocket a huge instant gain (I probably wouldnt loose much because price would rally up to somewhere below 20$, so I could still sell at a small loss).
Quite exciting to have a forex broker that will accept btc deposit & pay earnings in btc.
It's quite common for non-us forex brokers to offer wild leverage.
Having done work for kakobrekla in the past, I know he's sharp, quite matter of fact, communicative, and never needed to be asked twice for payment.
I didn't get that they were offering to allow trading of BTC/USD w/ 1:1000 leverage. (did I miss it? I don't think so) That might be a little nuts. Trading EUR/USD with that kind of leverage is, again, quite common. It's also quite common for inexperienced traders to lose money this way.
So, no. This is not a bitcoinica copy. This is a standard forex broker taking deposits in, and payiing out in BTC. Bitcoinica didn't even payout in BTC. They paid in USD. And, limited leverage by account size to limit their potential losses.
If I had 100 BTC to put in an account, I'd love to fire up my MT4 and put the bots to work making some BTC.
It's quite common for non-us forex brokers to offer wild leverage.
Having done work for kakobrekla in the past, I know he's sharp, quite matter of fact, communicative, and never needed to be asked twice for payment.
I didn't get that they were offering to allow trading of BTC/USD w/ 1:1000 leverage. (did I miss it? I don't think so) That might be a little nuts. Trading EUR/USD with that kind of leverage is, again, quite common. It's also quite common for inexperienced traders to lose money this way.
So, no. This is not a bitcoinica copy. This is a standard forex broker taking deposits in, and payiing out in BTC. Bitcoinica didn't even payout in BTC. They paid in USD. And, limited leverage by account size to limit their potential losses.
If I had 100 BTC to put in an account, I'd love to fire up my MT4 and put the bots to work making some BTC.
Kinda wish they had an api (from what I see they don't make any mention of it), so i can make a bot, I really don't want to sit here and actually trade that is boring, BTC4X get on that API!
MT4 internal API is available: http://docs.mql4.com/
They have just 1 page of info? LOL no download links, no about us, not contact info, nothing......just "SEND BITCOINS HERE AND YOU WILL MAKE LOTS OF MONEY".....sounds like Pirate's Bullshit and Trust.
HAHAHAHA
HAHAHAHA
SCAM.
Isn't it odd that a company with offices in 6 countries only gets 165 results in a Google search and only registered their domain in April this year?
Why yes, yes it certainly is! Walks like a bitcoinica, quacks like a bitcoinica, offers absurd levels of leveraging like a bitcoinica and is managed by unknowns who are backed by even deeper unknowns just like a bitcoinica. Unknowns who hold over twice the total of all customers trade portfolios as security? Sure, probably in an unencrypted hot wallet whose password is "password" with a big-ass neon sign saying Hack Me Please!!!
Thanks for playing, have a good life, don't get fooled again.
Pretty shady... the FSA number listed on VenetFx is registered as follows:
Also, as someone pointed out the creation date on venetfx.com is from April 2012 and is registered to Domain Privacy Service.
Quote
194835 - Worth.IT Financial Services Ltd
Current status: Appointed Representative - Former
Effective Date: 01/02/2001
Address: 4 Cromwell Place
London
SW7 2JE
Phone:
Fax:
Email:
Website:
44 020 7584 7279
44 020 7589 6005
[email protected]
www.worthitfs.com
Current status: Appointed Representative - Former
Effective Date: 01/02/2001
Address: 4 Cromwell Place
London
SW7 2JE
Phone:
Fax:
Email:
Website:
44 020 7584 7279
44 020 7589 6005
[email protected]
www.worthitfs.com
Also, as someone pointed out the creation date on venetfx.com is from April 2012 and is registered to Domain Privacy Service.
bitcoinica V2.0
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