If You Lost Money in the Currency Rigging Scandal

If You Lost Money in the
Currency Rigging Scandal
By www.ForexConspiracyReport.com

http://www.options-trading-education.com/24658/stock-market-quickly-gets-over-irma/
Time may be running out if you lost
money in the currency rigging scandal
and have not registered for payment of
fines.

We wrote about Forex rigging earlier
this year and how banks have been
forced to pay billions in fines.

Before We Continue…
Click the links below to get your
FREE training materials.
Free Weekly Investing Webinars
Don’t miss these free training events!
http://www.profitableinvestingtips.com/free-webinar
Forex Conspiracy Report
Read every word of this report!
http://www.forexconspiracyreport.com
Get 12 Free Japanese Candlestick Videos
Includes training for all 12 major candlestick signals.
http://www.candlestickforums.com

Five banks have agreed to a settlement
of charges of rigging Forex price fixes.

This investigation has been going on
for a couple of years and has to do
with traders meeting online in chat
rooms to rig the mid-day price fixes
for various Forex currency pairs.

UBS, Citigroup C -0.98%, JPMorgan
Chase JPM -1.47%, Royal Bank of
Scotland and HSBC have agreed to
pay a total of $3.3 billion in fines to
settle a foreign exchange market
manipulation probe among regulators
in the United States and Europe.

Regulators in the U.S. and Europe
found that the banks had failed to
adequately train and supervise
foreign currency traders.

As a result, traders were able to form
groups that shared information and
sought to manipulate the market.

Now is time for individuals who lost
money to collect damages.

According to Bloomberg there is
about $2 Billion up for grabs.

Currency investors risk leaving money
on the table if they don’t submit claims
on a $2.1 billion pot of settlement
money paid by banks accused of
rigging foreign-exchange rates.

That’s the message from Battea FX
Group LLC, which is competing in the
business of advising clients on how to
get their share of the payouts.

Its seven former FX traders and
executives are helping firms recover
funds from class actions claiming that
some of the world’s biggest banks
conspired to manipulate the $5.1
trillion-a-day currency market.

Fourteen banks have settled, including
Bank of America Corp., Barclays Plc,
Citigroup Inc., HSBC Holdings Plc and
Royal Bank of Scotland Group Plc.

What you need to do if you believe you
lost money due to currency rigging is
hire Battea or someone similar to rerun
trades in spot, forwards, options,
swaps and futures markets in order to
determine how much you lost due to
currency rigging.

This is a data intensive job because the
rigging goes back as far as 12 years
before it was discovered.

The process begins in October 2017
and traders will be able to get in to see
if they can recover money for about 6
months and then the window of
opportunity will close.

So, if you lost money in the currency
rigging scandal find someone like
Battea to search your trades and see
just how much you lost and how much
the banks owe you.

Forex Conspiracies

There always seems to be a Forex
scam, some obvious and some more
subtle.

Years ago we wrote about three ways
to avoid Forex scams.

Every so often there is another Forex
scam in the news.

The ones that hit the news are usually
pyramid schemes.

Someone offers to trade currency on
your behalf and tells a story of great
profits.

He or she proclaims great profits and
may even show you fantastic results,
on paper.

If you actually demand your money
they will probably pay up.

That is they will pay up early in the
game as money from new investors in
still coming in.

If you arrive late in the game the story
may be different and there may be no
profits to return to you and even your
original investment may be gone.

Other scams may be less overt but still
damaging.

With these thoughts in mind here are
our three ways to avoid Forex scams.

They all boil down to the old Roman
adage, let the buyer beware.

Being careful and thoughtful when
investing your money in Forex trading
is wise but there are times when the
scammers are just too smart.

That is when if you lost money you can
at least pick it up in a settlement on the
back side.

If You Lost Money in the Currency Rigging Scandal

Recommended

Recommended

More Related Content

More from InvestingTips

More from InvestingTips (20)

Recently uploaded

Recently uploaded (10)

If You Lost Money in the Currency Rigging Scandal