Gandalf Review of:
http://www.forexpeacearmy.com/public/review/www.pfgforex.com
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Mian Ahmad Raza from Pakistan says:
"I was originally client of Alaron, PFG Best acquire my account in june 2009. On December 15, 2009 my account of $75900 was churned out due to 6517 trades in very short time by generating commission of $47700 resulting my account debited to balance of -$3342.
When i investigate the matter by communicating with company, i come to know about the fact that the company has passed my user id, password and new trading platform to third party without appropriate verification from me and without informing me when i inquired to the company they blamed me of playing games.
After doing all this bad with me their attitude is terrible and unethical and they are not serious to resolve this serious issue, as i have lost all my kith and kin because of their negligience/fraud/scam.
you can jion me in scam alert folder at "PFG Best Fraud" thread."
1
Advice from Gandalf the FX:
The first thing I will say is ALWAYS withdraw your funds when your broker has been bought out. This will save you from frustration and headaches.
You should first see if you like the new broker and if their operations and features sit well with you. Once you have decided what you want to do you can either put your funds back into or close the account. By pulling out your funds you're simply protecting yourself for the time being.
As to your issue, it seems like you were involved with a money manager or service - which means that there should have been a Limited Power of Attorney (LPOA) involved. Churning is always a concern, especially if the Money Manager or Service has a form of agreement with the broker that pays them based on volume (* Always make sure that it’s only one or the other....never both!)
I am not going to comment any further because I do not have enough information to know exactly what is going on.
Gandalf The FX1










