Self-Regulated Scam that Fraudulently Blackmails Forex Companies
The Forex Peace Army claims to be an unbiased review based website and forum community for Forex traders around the world. They offer individuals the chance to voice their opinion on the myriads of services available to traders on the internet.
Now on the face of it that sounds like a great service and it would save many traders a lot of heartache by avoiding major forex company scams.
But after having first-hand experience with FPA & the owner/founder Dmitri Chavkerov, in my view all it is is a fraudulent operation that blackmails forex companies by posting negative reviews of them & then asking those companies for money to take these reviews down.
After setting up Traders4Traders in 2009 we became a target for all sorts of misconduct. In early 2010 we were contacted by FPA and told of a number of negative reviews on their website.
Now at this point I was completely naive to the whole ‘negative underworld’ in the forex industry. I was told by Dmitri himself via email that I could get the negative reviews taken down and replaced by positive reviews for £1,000.
Needless to say I didn’t bow to these demands and sure enough the number of negative reviews doubled.
Unlike forex companies that are regulated by government financial market regulators, the FPA is unregulated and answers only to themselves. It’s a joke.
Now I’m writing this article to make people aware of how this company operates. I’m sick to death of people contacting me and asking about the negative reviews on the FPA site.
Now I’m no Robinson Crusoe when it comes to negative reviews by FPA. If you do a quick Google search on ‘Forex Peace Army Scam‘ you’ll find an endless supply of material.
They are ruthless and if you don’t pay their demands, your company is forever labelled a scam by them.
There are loads of companies trying to track down Dmitri and the FPA team with the aim to sue them for their fraudulent behavior. For an in-depth look at the company check this site: Forex Peace Army Exposed.
The number of brokerage firms hammered by the FPA is also endless. Many of these companies are starting to fight back and provide details of their dishonest and fraudulent activity, posting links on their websites. Instaforex – beware of fraud: facts about forex peace army
I would suggest that any forex company promoted by FPA on their website is also indirectly promoting this negative fraudulent behavior & I suggest they have a long hard think about their relationship with such a negative illegal company.
Now I’m sure there are plenty of ‘honest reviews’ on this site but unfortunately they are overshadowed by the fictitious lies that the FPA team posts themselves.
Be careful what you read on the FPA website as you may in fact be steered away from reputable companies and steered towards dishonest companies that play along with the FPA.
Of course all brokers advertise with these sites (and that’s how they make their cash) but they don’t get involved in fraudulent blackmail activity like the FPA.
If you have any questions about this article or about Traders4Traders reviews on the FPA site I’d be more than happy to discuss it with you.