22 Responses to “InterbankFX related to FXLQ?…. I do not think so”

1. on 07 Dec 2007 at 2:39 am1X IBFX Clint

   Todd is full of it!!!!! I deistically remember the FXLQ Robert Gray and IBFX Todd Crosland relationship being brought up on their forums around a year ago and they did admit the facts that their was a clearing relationship between the two firms’ and gray use to work at IBFX at first, then the thread mysteriously despaired in fact all thread discussing FXLQ or Grays are gone, just that facts and that he’s going to so much trouble trying to disassociate with FXLQ tells us their lying. Gray and FXLQ are toast no question about it, he forged his net cap, is going to put him behind bars, now Todd is trying to distance himself, If I was the NFA I would start looking into were to really received this investment to raise his net caps from, I bet it’s bogus as well

2. on 07 Dec 2007 at 3:16 am2X IBFX Clint

   Watch yourselves on this one FXstreet,, you will defiantly loose a lots of credibility once the truth comes out and it will come out. IBFX advert payments will dry and you name fxstrret will not be trusted. I’m pretty sure these responses will get deleted same as all the IBFX/FXLQ topics at INFX forums have.. I’m taking screen shots

   Case in point,, elite trader removed another poster verifying this has been verified.

   http://209.85.165.104/search?q=cache:rslO0thFG6kJ:www.elitetrader.com/vb/printthread.php%3Fthreadid%3D85534+fxlq+ibfx&hl=en&ct=clnk&cd=2&gl=us

   Posted by Moe27 on 04-11-07 10:27 AM:
   Re: Re: Re: Re: FXLQ
   ________________________________________
   Quote from Rocko1:

   Can I have the link to it please?
   Hmm all I see on their website is

   “…Trades are executed electronically, typically within one second, and go directly to our banks.”

   Another misrepresentation case for the NFA?
   ________________________________________
   You have to search there forum were a forum member ask ibfx if fxlq was one of there liquity provider and an ibfx mod said yes that they were.
   __________________
   Money And Emotions Don’t Mix
   ________________________________________
   Posted by virgin on 04-11-07 11:07 AM

3. on 07 Dec 2007 at 10:53 am3Anonymous

   Dear X IBFX Clint

   I appreciate your comments and your concern for FXstreet’s credibility.

   First of all, the institution here responsible to watch over US FDMs is the NFA not FXstreet.com.

   Our policy has always been and will always be to fight against scammers. We are here to help traders not to mislead them or help scammers to get their money and run. NO THANKS!

   But we are not the ruler of this market not the police of this market. This is the job of the NFA, FSA, Swiss authorities…..

   When we get a claim against a broker we never ever act if we do not get solid proves. A few months ago a latinamerican trader had a problem with a Swiss firm. He sent us full proves of his claim and we backed him up. We both were able to convince FDM to change his attitude and the conflict ended well for the trader.

   I´m not going to act against InterbankFX if I do not get solid proves. I can not trust comments posted on forums as too many people with no fair intentions are placing “not true” posts all around forums, even ours.

   So far, Todd Crosland’s response if fine for me. If you have a solid prove that can show us all that InterbankFX is doing something wrong, please send it to us and to the NFA right away. All those not behaving well should be put out of the market right away.

   Francesc

4. on 08 Dec 2007 at 7:36 pm4JasonF

   There is solid proof that Interbank FX has a poor history doing exactly what FxLQ has done. Just look at the NFA reports against Todd Crossland and InterBankFx.

   They claimed to have an ECN, NDD when they did not. They mislead clients and the NFA warning after warning, and that is only one of the many violations.

   It is a fact that Robert Gray and Todd Crossland have a strong relationship. Robert Gray learned his savvy techniques while being a trader for Crossland, then he branched on his own. InterBank Fx cleared with FxLQ also, notice how Crossland list his other clearing banks as a diversion tactic to the true issue.

   Think its a coincendence that FxLQ faked and ECN and so did Crossland? No,it is not.

   I agree that a forum should facilitate facts, but also be unbiased. Just becuase a publicly NFA violator (Crossland) sends an email to the form makes it no more of proof than anyone else sending a comment. Plus these guys (crossland and Interbankfx) have been fined for these actions and to believe what they say should not be construed as proof of any kind.

   It is true that InterBankFx is not a White Label of FxLQ, I think the poster for that simply used incorrect terminology. However for Crossland to imply there is no relationship with Gray is a mistake. However what would you expect, Gray can’t even remember the bank where he has his supposed $38 million, as stated as proof in the NFA Affidavid from Jennifer Sunu with the NFA.

   If I were Crossland I would try to come out honestly and state that yes there was a relationship with Gray, but not now, not once we realized his criminal activity.

   Let’s keep to task and find brokers without MULTIPLE violations. This is not the place to take sides. It is disturbing that the forum operator simply believes Crossland and bans users from comments, but if they have a relationship with InterBankFx and enough posts don’t get published on this forum, including this one. They will appear on other forums with a note of the censorship. Surely FxStreet does not want this.

5. on 10 Dec 2007 at 2:02 pm5Anonymous

   Dear JasonF

   As you can see above I´m not banning anything here yet. My policy is and always will be to tell the truth to FXstreet’s visitors.

   I do have an advertising relationship with InterbankFX and also InterbankFX is joining GFT as FDM and investor of our MAP program. But this is not excluding that we will stop any relationship with them and with any other FDM if we see they are acting ilegally.

   If X IBFX Clint says that InterbankFX is a white label of FXLQ my answer is “prove it”. Otherwise, I´ll believe Mr. Crossland when he says that this is not true. I´m just basing my decision in the way justice works here in Spain…. you are innocent unless proves can determine you are not.

   I´ll believe Todd’s word till somebody can prove that this is not true.

   I do not know what relationship Mr. Gray and Mr. Crossland had in the past. From the files I reviewed at NFA’s site I could not find any reference about this at all.

   I saw that InterbankFX has been fined twice. First time in 2006 with a fine of $25k and second in October 2007 with a fine of $100k.

   That fine was for the use of misleading and deceptive promotional material and failure to uphold high standards of commercial honor and just and equitable principles of trade.

   This is a matter of my concern, not possible links between Mr. Crossland and Mr. Gray.

   http://www.nfa.futures.org/basicnet/CaseInfo.aspx?entityid=0326091&type=reg

6. on 11 Dec 2007 at 5:36 am6JasonF

   These our good points. The fines for misleading and deceptive material of honor, is actually serious. It takes blatent repeats to get these.

   As for relationships with Gray and Crossland, this should not be taken lightly. They go back for more than a decade, in fact Robert Gray was a Compliance Office (yes, that’s right compliance officer) for a company that Crossland traded with. You can read about it here http://www.dora.state.co.us/securities/pdf_forms/xlcapital%20receiver’s%201st%20int%20rpt.pdf. This is in 2004.

   I think the important point to be taken here is to not believe anyones word if it can’t be backed up. The link above is an actualy filing with the state of Colorodo.

   I think it would be good for Crossland to diclose or disprove his relationship with FxLQ and Gray before it becomes public. Otherwise it could bring down InterbankFx as well. We all know the power of the internet and the speed of a business getting ruined for mis-information.

7. on 11 Dec 2007 at 6:06 am7JasonF

   Has anyone thought about a class action against NFA? It’s not that far fetched. It is the responsibility of the NFA to ensure honest practices and safety of client’s funds. If the NFA investigated the validity of this approxmiate fake $40million there would be a lot of clients sleeping better today.

   Furthermore, why is an FCM allowed to keep the majority of their supposed qualified capital offshore? US residents are not allowed to trade offshore,but yet FCM’s can keep all their money offshore and even make up the numbers on top of that.

   Who does the NFA really work for? It’s not about raising capital requirments. I bet there are more “mom and pop” family business that are honest than there are big money firms.

   I am sure we will never get a reply from NFA and I am not disputing all their activities, but one has to wonder why the majority of NFA investigators end up as private consultants or attorneys for FCM’s. Frank Masino with FXLQ was a previous attorney for CFTC, case in point.

   The take home message here is the NFA and the USA is no longer here to protect anyone, US citezens or not. They are, as always here for big business.
   Seek alternative jurisdictions for investing, you can still do it as a US citizen, you just need to create the proper entities, just like the FCM”s do and it’s not expensive or difficult either.

   After all, the US let’s us non US residents trade in their country, so why can’t you (US) residents trade in ours? Ask why?

8. on 11 Dec 2007 at 9:36 am8Anonymous

   Hi JasonF

   Very interesting comment indeed

   Francesc

9. on 11 Dec 2007 at 10:02 am9Anonymous

   JasonF

   A fine for misleading and deceptive material of honor, is actually REALLY serious indeed, but for the NFA is a matter of a small fine of $100k. I think this fine should be very much higher, not only for misleading advertising material in the FX business but overall - I see misleading and false advertisement everyday on Spain’s TV… every single day!.

   About that file you sent, I gave it a quick view and yes Mr. Gray was a compliance officer of GFS and GFS had a trading account with InterbankFX.
   The document is accusing GFS of actions contrary to the recommendations and prudent practices of professional traders - so to milk down accounts - but it is not talking about InterbankFX at all.

   Again, I gave it a quick look so maybe I missed something important. If I did, please let me know

   Francesc

10. on 05 Feb 2008 at 8:59 am10X IBFX Clint

    Karma FXLQ & IBFX the truth out

    What more proof do we need ,, LOL wow IBFX are outright deserving us all this time trying to distance themselves from FXLQ No we have no relationship. What a bunch of phonies, Karma Todd you had this one and what’s coming, coming for a while. You and Mr,Gray deserve it.

    http://www.robbevans.com/pdf/forexlqreport01.pdf

    Read page 6 of this doc, clearly they can’t deny these facts any longer

    I would run, no walk, run forest run these lyres’

    Franceso just a word of caution, watch who you try protecting in this industry it’s just may come back to bite you in the coolo

11. on 13 Feb 2008 at 9:07 pm11Scott Kuehne

    FX Street should reserach things for themselves and not just take what their SPONSORS who PAY them for advertising claim at face value. There is no disputing the FACT that IBFX was in bed with FXLQ. Take a look at the report filed by the law firm that took over FXLQ once they went out of business. Look at page 7 institutional clients http://www.robbevans.com/pdf/forexlqreport01.pdf
    No wonder their excess capital this month has been reduced by the $11,000,000 that was owed to them by FXLQ. http://www.cftc.gov/marketreports/financialdataforfcms/ Think IBFX is honest and financially secure? Think again!

12. on 14 Feb 2008 at 10:32 am12FRiverola

    Dear Scott

    I´m going to post soon my comment about FX Solutions acquisition by City Index. There I´m including some concerns I´ve got that users are expecting that we do the job regulators must do by themselves.

    To rule the FX industry in the US is a job of the NFA, not a job of FXstreet.com.

    To let a broker to be listed in our list of brokers we request them to be regulated by local authorities in the US, UK, Australia, Switzerland, Japan and Nordic Countries.

    InterbankFX is a fully regulated company by the NFA so we accepted them as a client.

    Having said that, it is clear to me that Mr. Crossland didn´t say the truth in my post were I was saying that I didn´t believe that InterbankFX was a white label of FXLQ.

    This is what I said and I was not wrong. My believes were based on the facts I had in my hands so I´m always requesting people to send me probes that shows otherwise.

    The report you sent me I already got it before, but never opened to me till yesterday night. Page 7 clearly says that InterbankFX was using FXLQ as a clearing house, but also reading between lines seems to me that the relationship was closer than just a simple relationship broker/clearer house.

    Let me read it again and I´ll make a post about this.

    Again, I´m not protecting nor InterbankFX nor anyone. I´m fully supporting NFA and any other regulator that will put out of the business to those that don´t behave properly. Traders get hurt when those companies shut down but I´m hurt as well because I´m not get paid for my advertising services, sometimes they leave owening me big money, so I´m the most interested here to put order into this mess.

    Please, do not accuse us to protect FDM’s… If you follow my blog and know us a little bit you´ll know that that´s not true.

    Thanks for your feed-back

    Francesc

13. on 14 Feb 2008 at 11:13 am13FRiverola

    Dear Scott

    I´ve gave a second read to Robb Evans document and now I have many doubts about the real relationship of FXLQ and InterbankFX. I´m checking this with our expert Mr. Toni Juste but maybe I was wrong….

    I want to know the truth so bear with me till we try to find out what´s going on.

    Aside of this, if any of you had a contact at Robb Evans it would be much appreciated to have it

    Francesc

14. on 14 Feb 2008 at 5:16 pm14tj

    read todd crossland’s email reply again. he never denied the allegations. he just sidestepped it.

15. on 14 Feb 2008 at 7:09 pm15FRiverola

    tj

    I can´t say no more than you are right

    I´m preparing an open letter to Mr. Todd Crosland that will go out tonight or tomorrow. Uploaded to my blog at the same time.

    I hope this time we will get real answers

    Francesc

16. on 06 Mar 2008 at 1:25 am16Scott Kuehne

    Great someone needs to put this sidewinders feet to the fire. He may be slick and deft at sidestepping questions but I wouldn’t trust him with my money. At the very least you have to agree that their claims of providing interbank access are completely false. I am also under the impression that the relationship goes deeper than just clearing all their business through FXLQ. my undestanding is that Robert Grey is the one behind IBFX as well as FXLQ and that when his Swiss operation went south he set up FXLQ. It would not suprise me in the slightest to find out that IBFX was clearing through Robert Grey’s old firm before he jumped ship and opened FXLQ. Thank you for taking this matter seriously let me know what the offical story is now from them.

17. on 06 Mar 2008 at 11:52 am17FRiverola

    Dear Scott

    You can follow this issue and everything related to NFA new requirements and thunderstome over the FX retail business in the US at the NFA new requirements category on the right hand side of this blog.

    Thanks for your feed-back

    Francesc

18. on 20 Jul 2008 at 12:40 am18Jon

    Where do all the losers come from? Where do all these loser traders who eat up bullshit posted on ForexBastard’s website come from? And why haven’t all of them killed themselves yet? We all know that they are all bunch of miserable failures as traders and as human beings.

19. on 20 Jul 2008 at 12:51 am19Lee

    I find it extremely hilarious considering clearly most of the crap being posted against firms like Interbank and FXCM all come from rather anonymous unwinning traders who live on ForexBastards site. Funny how all of these unwinning traders also don’t care what type of crap ForexBastard’s Felix pushes including the firm run by his brother-in-law at FxSolutions. These type of crap these morons don’t question but question legitimate and regulated firms. Why is this? Is this all aliases of Felix the Bastard himself or are they mostly losers who trade the forex market? There possibly can’t be this amount of useless traders and outright losers in the forex market can there?

20. on 21 Jul 2008 at 11:30 am20FRiverola

    Dear Jon and Lee

    This is not a discussion forum about ForexBastard’s and Felix’s.

    Thanks

    Francesc

21. on 31 Oct 2008 at 6:42 am21ernest8fingers

    If anyone here actually traded for a living-used multiple Brokers/Feeds - and one was IBFX- u would see for yourself the difference of price quotes/mystery spikes/platform freezing IBFX uses to steal money. I dont care about proof-I called them up and cursed their generations for their lower than worm crap business . And then I took my money elsewhere. I have never been happier or richer. Are there ANY honest Brokers out there?

22. on 03 Nov 2008 at 2:10 pm22Francesc Riverola

    Dear Ernest8fingers,

    I can fortunatelly tell you that yes there are honest brokers out there. Those willing to grow a business that will stay for years are being honest and giving good service to traders, but unfortunatelly there still are out there some that should be quicked out of business the sooner the better.

    Fortunatelly for all of us, regulators are now taking this seriously and new requirements will only make the bad guys harder to keep messing around.

    Francesc

Advertisement

Leave a Reply

Name (required)

Mail (hidden) (required)

Website

Theme by Forex Street Powered by Wordpress