- Report: #1060675
Report - Rebuttal - Arbitrate
Complaint Review: Boston Technologies Inc.
Boston Technologies Inc.280 Summer Street, 9th Floor Boston, Massachusetts USA
Boston Technologies Inc. scam Boston Technologies rip-off Boston Massachusetts
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We must prevent them to stop the illegal practices within the unregulated foreign exchange industry, or any other trading industry.
1) BT holds clients funds on deposit with both regulated and non-regulated entities.
2) BT's technology defaults to the benefit of the broker (FCM/FDM). In the absence of a broker, BT is able to deploy their technology to their own benefit. A major conflict of interest.
3) BT claims to not act as anything but a technology solution but receive income from the spread, in many cases without the clients knowledge. This is either garnered in the form of an IB fee paid by the counterparty or by BT simply marking up the trades through price manipulation.
4) BT has recently chosen to move their business offshore (Boston Trading as opposed to Technologies), or at least the trading arm of it (to Belize). They believe this will give them greater flexibility in acting as a broker without repercussions from the local regulations despite the fact that they still take client deposits in the name of the US based company.
This report was posted on Ripoff Report on 06/20/2013 09:23 AM and is a permanent record located here: http://www.ripoffreport.com/r/Boston-Technologies-Inc/Boston-Massachusetts/Boston-Technologies-Inc-scam-Boston-Technologies-rip-off-Boston-Massachusetts-1060675. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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