Hi everybody,
Yesterday at a site called forexpeacearmy.com a guy published a post saying that InterbankFX was a white label of FXLQ, a company under NFA's investigation and not allowed to take customers nor to operate in the market.
Some of our visitors came to me regarding this issue and also we at FXstreet.com have a close relationship with InterbankFX as they participate as FDM and investor in our MAP program.
So I decided that the best way to find out what was going on here was to contact InterbankFX's CEO Todd Crosland... so I did.
You can see below the post published at forexpeacearmy.com, my e-mail to Todd and at the top Todd's answer.
For me and my company, Todd's answer is more than fine
Francesc
From: "Todd Crosland" <todd.crosland@interbankfx.com>
To: "Francesc Riverola [FXstreet.com]" <francesc@fxstreet.com>
Sent: 06 December 2007 17:24:10 o'clock (GMT+0100) Europe/Berlin
Subject: RE: FXLQ and NFA
Interbank FX was founded in 2001. We were the first company to purchase the MetaTrader software from Metaquotes. FXLQ was formed in 2006. Our prime broker for clearing our trades is Citi Bank. Our executing banks include: Citi Bank, Deutsche Bank, Bank of America, Goldman Sachs, Barclays Bank and Lava Trading. Let me know if you have any more questions. Also attached is a release of a recent award IBFX has won. Can we post this on FX Street?
Todd B. Crosland
Chairman and President
Interbank FX
www.interbankfx.com
From: Francesc Riverola [FXstreet.com] [mailto:francesc@fxstreet.com]
Sent: Thursday, December 06, 2007 8:47 AM
To: Todd Crosland
Cc: Dale Brown; toni
Subject: FXLQ and NFA
Hi Todd
I´m following very closelly the NFA's action against FXLQ.
I´ve been approached by several people claiming that InterbankFX is a white label of FXLQ.
I didn´t give any credibility to it but before saying anything regarding it in my blog I wanted to get your feed-back.
Can you please give me some info about this?
Thanks
Francesc
Francesc Riverola
CEO & Founder
FXstreet.com
FOREXSTREET S.L
Portaferrissa 7, 1er 2ona
Barcelona, 08002
Tel. +34 93 3040495
Fax +34 93 3040496
From: Dan Campbell, Pipland, USA
Date of Post: 2007-12-05
Review: I've been trying to warn folks for over 2 years now (read my threads below, I used to work there), but justice is finally being servered, "to some degree". Forex Liquidity (FXLQ) is finally under investigation from the NFA. To recap: InterbankFX (IBFX) is a white label of FXLQ. Hense they are able to say "no dealing desk". Because in fact "IBFX" does not have a dealing, but rather it's at FXLQ where all IBFX customers clear their trades...
Sadly, as with most NFA "investigations", nothing will be done, but this should be a hugh warning bell for everyone using IBFX. Following the bread crumbs folks...
http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0362216&rn=Y
http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0362216&case=07MRA00013&contrib=NFA
http://www.fxlq.com/
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