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@  Shahram : (22 September 2019 - 10:20 AM) Does anyone has experience with dukastcopy?
@  Shahram : (22 September 2019 - 10:18 AM) dukascopy
@  gabrielscama... : (21 September 2019 - 12:25 PM) mt5
@  Tripack : (21 September 2019 - 12:12 PM) Heh
@  Cookiebrawler : (17 September 2019 - 04:27 PM) MegaMoney 90%
@  aasir : (16 September 2019 - 10:25 PM) Binary Triumph
@  traderpusa : (10 September 2019 - 01:35 AM) that was my bmw lol. E60.
@  Monoaldo : (10 September 2019 - 01:34 AM) E60
@  manfloy : (09 September 2019 - 11:12 AM) well said.
@  traderpusa : (09 September 2019 - 11:07 AM) at least for the moment, china will hold back because of economic conditions. My guess is they want to involve PLA but simply are not in a position to do so for the moment.
@  traderpusa : (09 September 2019 - 11:05 AM) well, regardless of any agreement between uk and europe, there is still nato is trump doesn't blow it up lol
@  manfloy : (09 September 2019 - 11:04 AM) I am really worried about HK if the PLA phase in this can interrupt the entire chain between FX liquidity and current import / export countries. I understand that we have a bunch of corporations exposed to China, now believe that 99 percent of them are stable in HK because they have a high law. If the PLA gets in, they'll substitute this economic centre with a singapore.
@  manfloy : (09 September 2019 - 11:04 AM) Yeah, they're really a very significant player. I am informed that there is also a lot more than economic, for instance there are a number of military agreements agreed between the GB and the EU, which is serious.
@  traderpusa : (09 September 2019 - 11:02 AM) the UK being part of the EU GDP figures, but not part of the Euro only makes things a bit complicated on how to interpret numbers for trading purposes.
@  traderpusa : (09 September 2019 - 11:00 AM) of course one needs to focus on US being the biggest economy but UK is still up there. https://gyazo.com/42...39df1c7c58d9221
@  manfloy : (09 September 2019 - 10:56 AM) I'm focused on the US, so I don't spend so much on the GB, I'm supposed to study it well since 2015, but something has altered worldwide, literally, it's an enormous step in the world's liquidity and global system, modifications are nice, but they're really colorful.
@  manfloy : (09 September 2019 - 10:56 AM) thanks good reading
@  traderpusa : (09 September 2019 - 10:53 AM) As to China, read this over the weekend : https://apnews.com/6...f75f013bf54e6a9
@  manfloy : (09 September 2019 - 10:51 AM) Spectacular indeed lol, this is huge to be honest
@  traderpusa : (09 September 2019 - 10:47 AM) it's gonna be interesting. MP's are leaving the sinking ship and now also Bercow has resigned. Gonna miss this guy lol

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Nadex is tough on those who violate Nadex rules


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#1 charlesl

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Posted 29 December 2018 - 07:39 AM

This is another interesting "disciplinary action" from Nadex.  The full details are in the attached PDF from the Nadex website.  Here's a summary of the case.  Nadex says Julio Salgado Velez transferred $100,000 into his Nadex account.  He started trading using the funds.  In so doing he violated Rule 5.19(g)(1) which says:

 

No individual Trading Member shall trade for a person or entity other than itself
and no Authorized Trader of an entity Trading Member shall trade
for a person or entity
other than the entity Trading Member for whom that Person is an Authorized Trader
.

 

Now I think this is interesting.  They claim he violated a rule which prohibits trading on behalf of someone other than yourself.  How do they know he wasn't trading on his own behalf.  The answer is found in this from the report:

 

In  its  investigation  as  to t he  source  of these  funds,  Nadex discovered  Velez  had  received  a $101,000 .00 transfer on May  14, 2018  from an investment  fund , Capstone  Currency,  LLC,  owned  and  operated  by  another  Nadex  Member . Immediately  following  this  transfer of funds,  Velez moved $100,000 .00 to his business  account, then  to his  personal account, before  finally  depositing  with  Nadex.   

 

So, to find out where the $100,000 in his Nadex account came from, they obtained his bank records and tracked the funds from his business bank account to his personal bank account to his Nadex account.  That is very broad reach.  Velez didn't cooperate with Nadex in the investigation.  Nadex concluded that the $100,000 was money Velez traded on behalf of Capstone Currency, LLC rather than on his own behalf.  So, he broke the rule saying you can't trade for someone other than yourself.

 

I think it is interesting that they go to such lengths to make sure those trading on Nadex are following the exchange rules.

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#2 traderpusa

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Posted 29 December 2018 - 08:30 AM

That's very far reaching and intersting indeed.

#3 Shahram

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Posted 30 December 2018 - 10:51 AM

It is indeed very far fetch. As I can’t imagine Nadex has the power to check someone’s personal bank account without the rule of judge.



#4 hbrad1977

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Posted 30 December 2018 - 05:26 PM

I just got a email today from Nadex compliance department saying that my account was temporarily suspended because someone with my same name is under investigation for practicing without a nurses license in a different state but now has moved to my state. Apparently, it may lead to a felony conviction. They said they did an "independent investigation" and have found no evidence to prove that it is NOT me. What the heck? I don't think their investigation is very thorough since I have neither lived in another state nor have I ever been a nurse. I had to send them a copy of my driver's license so we will see if that clears it up. Crazy.



#5 traderpusa

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Posted 30 December 2018 - 06:12 PM

lol. are they serious ?



#6 David

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Posted 30 December 2018 - 08:21 PM

I just got a email today from Nadex compliance department saying that my account was temporarily suspended because someone with my same name is under investigation for practicing without a nurses license in a different state but now has moved to my state. Apparently, it may lead to a felony conviction. They said they did an "independent investigation" and have found no evidence to prove that it is NOT me. What the heck? I don't think their investigation is very thorough since I have neither lived in another state nor have I ever been a nurse. I had to send them a copy of my driver's license so we will see if that clears it up. Crazy.

 

Wow that is pretty insane, can you share that email via PM?  



#7 hbrad1977

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Posted 31 December 2018 - 09:47 AM

Wow that is pretty insane, can you share that email via PM?  

Whew. Sending them my DL worked. I'm off suspension. :) Thank god it was that easy.

 

David--is that allowed? I'll share it as long as it is not against Nadex's rules. I don't want to be in trouble again. Do you know?



#8 nkotb6

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Posted 01 January 2019 - 08:33 AM

I just got a email today from Nadex compliance department saying that my account was temporarily suspended because someone with my same name is under investigation for practicing without a nurses license in a different state but now has moved to my state. Apparently, it may lead to a felony conviction. They said they did an "independent investigation" and have found no evidence to prove that it is NOT me. What the heck? I don't think their investigation is very thorough since I have neither lived in another state nor have I ever been a nurse. I had to send them a copy of my driver's license so we will see if that clears it up. Crazy.

 

What are the odds of someone carrying the same name as yours and living in the same state as yours. Ouch! Glad to hear it is all sorted now. This must have given you headaches and sleepless nights for a while. Insane!



#9 nkotb6

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Posted 01 January 2019 - 08:58 AM

This is another interesting "disciplinary action" from Nadex.  The full details are in the attached PDF from the Nadex website.  Here's a summary of the case.  Nadex says Julio Salgado Velez transferred $100,000 into his Nadex account.  He started trading using the funds.  In so doing he violated Rule 5.19(g)(1) which says:

 

No individual Trading Member shall trade for a person or entity other than itself
and no Authorized Trader of an entity Trading Member shall trade
for a person or entity
other than the entity Trading Member for whom that Person is an Authorized Trader
.

 

Now I think this is interesting.  They claim he violated a rule which prohibits trading on behalf of someone other than yourself.  How do they know he wasn't trading on his own behalf.  The answer is found in this from the report:

 

In  its  investigation  as  to t he  source  of these  funds,  Nadex discovered  Velez  had  received  a $101,000 .00 transfer on May  14, 2018  from an investment  fund , Capstone  Currency,  LLC,  owned  and  operated  by  another  Nadex  Member . Immediately  following  this  transfer of funds,  Velez moved $100,000 .00 to his business  account, then  to his  personal account, before  finally  depositing  with  Nadex.   

 

So, to find out where the $100,000 in his Nadex account came from, they obtained his bank records and tracked the funds from his business bank account to his personal bank account to his Nadex account.  That is very broad reach.  Velez didn't cooperate with Nadex in the investigation.  Nadex concluded that the $100,000 was money Velez traded on behalf of Capstone Currency, LLC rather than on his own behalf.  So, he broke the rule saying you can't trade for someone other than yourself.

 

I think it is interesting that they go to such lengths to make sure those trading on Nadex are following the exchange rules.

 

 

And  J S Velez thought he would get away with it. I wonder if they have banned the other Nadex member as well as J S Velez and fined that member too. 



#10 charlesl

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Posted 03 January 2019 - 06:34 PM

And  J S Velez thought he would get away with it. I wonder if they have banned the other Nadex member as well as J S Velez and fined that member too. 

 

Yes.  The other trader involved was Markeith Victoria.  From the disciplinary action notice released today:

 

...during the course of the investigation, Nadex learned that Victoria owned and operated an entity, Capstone Currency, LLC, which he described as an investment fund consisting of nine third-party investors.

 

...in reviewing bank statements provided by another Nadex Member, Julio Salgado Velez (“Velez”), Nadex became aware of a $101,000.00 transfer between Capstone Currency, LLC and Velez, which ultimately resulted in deposits to Nadex.

 

...As a result of the violations, Markeith Victoria was fined $2,500.00, and his Membership was revoked. Mr. Victoria has also been permanently banned from trading on the Nadex markets, either directly for his own account or through an intermediately, or as an authorized trader on behalf of any other account.






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