This was disbanded after it turned out to be a scam arranged by I think a Ukranian guy.  People deposited money and traded, and found they could not withdraw anything.  Then the guy ran off with their cash.  Amazing that this has not been flagged up.

When did it happen?

I cannot find its website in google results.. But it has good ratings on different forums.

I think a few months ago - yes- you won't find the website because it has been deleted.  And all the good ratings were probably by the creator and his shills.  Goes to show you can't be too careful.

Another scammer. Forex scams are increasing and for newbiews, it is hard to find if a broker is scam or not. So these scammers easily get some money and run away. Address verification is a good way to check if a broker really exists or not. Regulation also plays an important role. But I dunno how to verify regulation of a broker.

I think the pattern was that the broker did physically exist.  There was a phone number, address, etc, plus lots of enticing offers.  But of course, once people deposit money, they tend to hold for at least 3 months once they start making profits, if not more.  When people wanted to take their money out there were just delays and excuses until they disappeared.  There are reputable, long standing brokers out there that many many people use, and I don't really see the point of using a broker outside of that.

Originally posted by CFXsignals

I think the pattern was that the broker did physically exist.  There was a phone number, address, etc, plus lots of enticing offers.  But of course, once people deposit money, they tend to hold for at least 3 months once they start making profits, if not more.  When people wanted to take their money out there were just delays and excuses until they disappeared.  There are reputable, long standing brokers out there that many many people use, and I don't really see the point of using a broker outside of that.

I agree. Reputable brokers offer excellent trading environment.. So there is really no point in taking risk.

Its also funny how they introduce the name to ensure safety. Anything Swiss based is thought to be safe.  Other scams to look for are websites that have a very similar name to reputable brokers.