I-Trade Responds

We now have a response sent out by I-Trade to traders.

Dear i-Trade FX Trader,

As a Founding Members of i-Trade FX, LLC, (ITFX), we would like to address the recent complaint filed by the National Futures Association (NFA) against ITFX regarding the firm’s Anti-Money Laundering (AML) policies and procedures.

ITFX has been and will continue to be committed to implementing a comprehensive AML program, which includes written policies, procedures and controls to prevent and detect potential abuse by money launderers and/or terrorist financing. ITFX does not participate in laundering money and we strive to meet and exceed the reporting requirements regarding any suspicious activities to the proper authorities.

ITFX is reviewing the NFA’s complaint and we are taking the allegations made by the NFA as a serious matter. ITFX will publicly respond to the complaint and will outline our position concerning the issues raised by the NFA in light of the firm’s comprehensive AML program and controls. It is our belief, which will be explained in the response, that many of the NFA’s accusations are unwarranted.

As a Client of ITFX, we want to inform you that this NFA complaint will not interrupt your day to day trading or jeopardize the safety of your funds on deposit. All business activity will continue uninterrupted as we address our position with this complaint.

Should you have any questions concerning the NFA’s complaint against ITFX, feel free to contact us atquestions@itradefx.com

Please rest assured and trade with confidence knowing, that ITFX has always and will continue to abide by all appropriate guidelines enabling ITFX to be “The Choice of Forex Traders”.

Health, Happiness and Successful Trading

Jared Martinez / Isaac Martinez / Jacob Martinez

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2 Responses

  1. Why is the NFA naming names in the complaint? If any number of transactions were not filed as SARs, then the amount in the transactions could be indicated without the names. Suppose you were an account-holder at i-trade and i-trade neglected to file a SAR on any of your transactions, then thats not your fault …it is I-trade. Why should your name be plastered over a legal document posted on the NFA website and now damaged forever. Forget about David for a moment. Think about Ingrid loiten and greg harris (whoever they are). Their names have been singled out and now destroyed with having a chance to explain themselves beforehand the NFA filed its complaint.
    Think about it this way…….suppose you were a an account-holder at e-trade, or ameri-trade, or scot-trade etc (I know these are somewhat different that I-trade but they are similar enough to illustrate my point). Then suppose several of your transactions were not filed as SARs. Would’nt you be shocked if you saw a SEC complaint on online with your name as an example of suspicious activity …without directly ever given the opportunity by the SEC or by the trading platform to clear up why you made those transactions and where those funds came from? [ now we know Smith was given this chance as a principal at a particular point in time but were Ingrid and Greg?]

    Regardless of one’s view of the whole OLINT situation, it should be troubling to every investor that your name can be potentially sullied like this (as an example of suspicious activity) with no recourse.

    Seems like the complaint had an agenda behind it…to damage or put pressure on Smith, and not to impartially and objectively attempt to get answers as a disinterested dispassionate independent regulator.

    I wonder if Lee-Chin or the FSC has been pleading with the NFA to do something against OLINT & Smith, and this was NFA’s only way to try to touch or get at Olint/Smith, since Olint is not a registered FCM with e NFA of CFTC and as such has no direct jurisdiction over OLINT?

    Food for thought!

  2. The meeting on Thursday, July 9th at Braemar where it is alleged DS shall speak to the people…..can one of you super researchers lend a hand on this?

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