Serious Sinkie forex traders jailed for making US$1 billion of fake trades for own profit

[GOD IS MY DOG]

imagine how much Pinky and Ho Jinx been making for themselves ?

 

[CoffeeAhSoh]

look what happen early this month,

FXCM banned by CFTC after taking positions against clients

WASHINGTON (MarketWatch) -- FXCM has been banned from operating in the U.S. after the Commodity Futures Trading Commission found the retail currency broker had an undisclosed interest in the market maker that consistently "won" the largest share of FXCM's trading volume - and thus was taking positions opposite its retail customers. The CFTC also found that FXCM willfully made false statements to the National Futures Association in order to conceal FXCM's role in the creation of its principal market maker as well as the fact that the market maker's owner had been an FXCM employee and managing director. FXCM also agreed to pay a $7 million fine and never seek to register with the CFTC, and the two founding partners, Dror Niv and William Ahdout, will withdraw from CFTC registration. FXCM, Niv and Ahdout didn't admit or deny the findings.

http://www.marketwatch.com/story/fx...r-taking-positions-against-clients-2017-02-06


do you all really think that they are the only one?

These 2 chaps , Chng and Toh are senior dealers. One ln late forty and one past fifty. They are no green horns.
Just look at the size of their trades. Hard to believe they acted alone.

 

[krafty]

they are not scary! the scary ones are those who conduct classes telling their audience to hold and hold their positions. knn, do they know what the fuck they doing? trust me, i have seen it all, i'd rather bet big or small in the casino. to those who think they really can beat the game, if you can make money for 5 years, you can come and slap me in the face.

 

[scroobal]

Yes, you are right. Clearly the reporter did not understand it. Not only the cumulative amount must be big but it does takes a quite a long time to insert these trades which are essentially dead trades as they are matched trades. The only way these guys were caught is because they told someone about it.

There is a very small difference between the rates available to bank employees and the general public in forex. Very small indeed. That is why to gain from it the culprits must trade in the hundreds of millions. It is there staring at us and the temptation is great especially when we are squeezed for $$$$. These two are the ones getting caught .. tip of the iceberg.

 

[mojito]

Nothing wrong with earning a little extra on the side. They just doing their jods. Their employers are not screwed. Only those aggressive online forex brokerage firms got screwed. If they hedge and not act like bookies, they would not cry over spilt milk.

Must be they got baotoh by their high caste colleagues. Now more and more invading the dealer room.

 

[CoffeeAhSoh]

Nothing wrong with earning a little extra on the side. They just doing their jods. Their employers are not screwed. Only those aggressive online forex brokerage firms got screwed. If they hedge and not act like bookies, they would not cry over spilt milk.

Must be they got baotoh by their high caste colleagues. Now more and more invading the dealer room.

These online brokerages are far far more dangerous than the 2 ir casinos. If no place stop loss the downside no limit $$$.

 

[blissquek]

there is only a way to make money from forex but i am not going to disclose here. cos' if i do, the sharks might change how the game is played.

my last broker told me that the traders at the brokerages can see your trades and bet according to it.

so the problem i am facing is that i dun trust all these brokerages and banks. if i want to trade, i go straight to a money changer.:o

The market for cash notes via the money changer is a totally different market from the real world of forex trading.

Market for money changer is minuscule and rely on actual availability of the cash notes...and the spread is far too wide to make gains.

 

[EnBloc]

The Uber driving mitigation is laughable. Both of them live in landed property in the East.

 

[CoffeeAhSoh]

Yes, you are right. Clearly the reporter did not understand it. Not only the cumulative amount must be big but it does takes a quite a long time to insert these trades which are essentially dead trades as they are matched trades. The only way these guys were caught is because they told someone about it.

Is akin to a horse racing jockey who cannot wager on his own horses and or others and
But circumvented it through his wife betting account. And or overseas proxy accounts.

 

[Narong Wongwan]

The market for cash notes via the money changer is a totally different market from the real world of forex trading.

Market for money changer is minuscule and rely on actual availability of the cash notes...and the spread is far too wide to make gains.

Why you so bad Pichar resident attention whore's lobang?
Let him enjoy his 15 mins of fame here.
His online persona now is investor made good retired in Ozland. Anything regarding investments and ozland he is the expert hahaha

 

[krafty]

look at this chap, do you think he trade oil thru a brokerage? my point is to make it big, you have to find your ways to trade and not thru a brokerage. many years ago, when soros short pounds, he didn't go thru a brokerage. go get his story.

http://fortune.com/40-under-40/ye-jianming-2/

Ye runs a $42-billion-a-year oil business in China, (No. 229 on the Fortune Global 500), yet few in China know much about the mysterious tycoon or the firm he created, CEFC. Ye bought a collection of oil *assets in his twenties and *secured loans from state-owned banks to expand abroad, a privilege for a private company. CEFC has oil agreements in Kazakhstan, Qatar, Abu Dhabi, and Chad and has gone into ventures with state-owned giants to transport oil to China, making him a rare powerful private player aligned with the Chinese government.