Forex Peace Army | Official History of Global Forex Trading Portal

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Forex Peace Army ~ by Forex Trader for Forex Trading Community

Early History of Forex Peace Army

In 2005, Dmitri Chavkerov started a website called Free-Forex-Trading-System.com (Currently Inactive).  On this website, Dmitri
listed quite a few different forex-related companies that he was involved
with.  He shared his experience with each of those companies and
personally ranked them from 1 to 5 stars.

The Middle Ages of Forex Peace Army

As the website grew, he decided to do something bigger with it, plus the domain
name was a little too amateurish.  In January of 2006, Dmitri Chavkerov
bought a domain forexbastards.com
(Currently
Inactive), and moved all of his content from the previous website to
this new domain. 

The reviews section of the website was upgraded in such a way
that readers could submit their own reviews and ratings for all the different
forex-related websites listed.

A major reason Dmitri Chavkerov named his website ForexBastards was because of
what forex was like at the time.  In 2005-2006, forex was more like the
Wild Wild West than a place to invest money.  Most forex brokers that are
big names now and that are regulated were not regulated in 2005-2006. 
Many brokers committed all kinds of fraud against forex traders to take their
money away. 

Another common fraud was done by a large percentage of forex
education and forex signals websites using deceptive advertising.  The
most common problem was that these sites would promise something attractive on
a sales page and back it up with a refund policy. After a client bought the
product and saw that what they received was inferior to what was promised to
them, they would try ask for a refund.  With many of these forex sites,
there would be no refund or even a reply to any of the customer’s emails. 
These brokers and product sellers are the Forex Bastards out to get your money
that Dmitri wanted to expose.

Forex Peace Army Today

Many companies still commit frauds like this now, but the percentage of them is
much smaller than it was back in 2005-2006.  Forex regulators have
improved and Dmitri’s website warns smart currency traders away from many
scams.

In November of 2007, instead of just labeling the companies as SCAMs based on
undocumented claims by traders, Dmitri decided to begin making scam
investigations more consistent.  The mission was also expanded to help try
to resolve issues between forex traders and forex companies, with the hope that
some companies could be improved.  That’s when he bought the ForexPeaceArmy.com domain name and
rebranded the website to the current name.

If you don’t think Forex Peace Army is effective, look here…

http://www.forexpeacearmy.com/public/forex_scams

Do you see how many of those companies are marked as « Website is
closed »?  The FPA can’t take credit for all of them.  Some were
shut down by regulators.  Others, Forex Peace Army only found out about
after the company closed down.  Most of the rest went out of business
because traders were warned to keep from sending money to them.

Forex Peace Army now lists over 3000 forex websites.  It is the largest
and best collection of human-moderated forex reviews anywhere in the
world.  Forex Peace Army also has forums, featuring a large amount of
educational material.

 The FPA also decided to stop wondering which EAs, Forex Signals,
and Forex Managed Accounts Services really worked.  With Performance
Testing showing unfiltered results directly from the broker, it’s easy to see
which forex services live up to their claims of profitability.  There’s
also a low-latency forex news calendar and a growing array of other tools for
traders.

The Future of Forex Peace Army

The FPA is constantly striving to improve.  Screening for reviews has
taken huge leaps forward.  Performance Testing continues to be
improved.  Even now, new tools for Forex Peace Army members to use in
their trading are under development.

The best part of this?  All Forex Peace Army services are 100% free to
members and visitors.

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Forex Peace Army | Official History of Global Forex Trading Portal

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