Complaint Review: Boston Technologies
Boston Technologies BT Prime rip off Boston Massachusetts
The company that hold your money, and acting as your "escrow agent" should be have licensing to act like Marketplace, Broker-Dealer and/or Brokerage Company.
Do not trust in the "unsecure" and "untrust" liquidity bridge from Boston Technologies; and do not trust neither in the liquidity providers that are used by Boston Technologies.
Ask to the NFA and CFTC for the Boston Technologies license.
Also see following:
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 is just a cursory glance at the business. A more informed and thorough look will reveal further anomalies.
This report was posted on Ripoff Report on 05/30/2013 06:28 AM and is a permanent record located here: http://www.ripoffreport.com/reports/boston-technologies/boston-massachusetts-02210/boston-technologies-bt-prime-rip-off-boston-massachusetts-1054937. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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