Due to the rapidly fading reputation of RoboFX, after the "Black Thursday" 1/15/2015, we get a lot of questions about the possibilities of legal pressure on Roboforex to force this broker to fulfill their financial obligations and to protect the rights of clients. In this article we want to share the results of our study and describe legal scheme that RoboFX introduced to escape leagal prosecution and not to pay out funds to customers and partners.
First of all, let us remind you that 05. 11. 2014 Roboforex hastily moved all clients, registered on websites www.roboforex.com and www.roboforex.ru (that belong to New Zealand company Roboforex LP) to Belize company RoboTrade Ltd. In our previous article "Roboforex started to run away!» (Http://www.anti-roboforex.com/ru/post/10) we gave screenshots of informational messages about this forced transiton of clients and our analysis of the company's data.
At the moment, we have the following facts about the legal structure of Roboforex:
As can be seen from the screenshot below, websites www.roboforex.com and www.roboforex.ru (as well as other websites of the company) owned by a certain company Roboforex LP, registered in New Zealand.
An interesting fact is that this New Zealand company, the owner of websites, is not a broker and has no rights to carry out brokerage activities, because they do not obtained a license from the New Zealand regulator - Financial Market Authority of New Zealand. The website of the Regulator www.fma.govt.nz DOES NOT show Roboforex LP in the list of licensed brokers and companies that have the right to provide financial services. It turns out that customers and partners who register on these websites leave their personal data due to mandatory verification to a company who is not a broker! Sorry, but how the company that is not a financial broker can oblige anyone to perform verification? And where to the personal data of customers will be passed later? After all, this company is not a broker and has no responsibility for the disclosure of clients' personal data left on these websites!
Even more interesting is the fact that when registering on these websites, that belong to a company who is NOT a broker, the client will automatically enter into an Client agreement with the RoboTrade Ltd. that is a new “broker” from Belize. This Customer Agreement available after registration in Trader's Room and Partner Room.
The most surprising is the fact that despite the client has agreement with a brokerage company RoboTrade Ltd, their deposits transferred to the company Roboforex LP that can not perform financial services according to the law! On the screenshot below you can see that all payment systems connected to not broker Roboforex LP and all deposits of clients go to this not broker company.
It turns out that customers are registered and conduct financial transactions on the websites that are not legally controlled by the broker RoboTrade Ltd. Moreover, customers pay money to an organization that does not have the right under the law to engage in brokering, does not have rights to verify customers and even more – has no rights to take payments from clients who want to trade on financial markets! In this situation, when a conflict occurs, the broker RoboTrade Ltd can always refer to the fact that he did not get the money from the client and assumes no responsibility for the safety of customer funds and payments!
Why Roboforex starting from 05.11.2014 suddenly began to work on such a scheme? In our opinion, this scheme is ideal for a single scenario - for the legal protection of the broker owners in case of the absolute financial insolvency and bankruptcy.
A few days ago we made a formal request to the payment system PayOnline, which until recently catered all payments made by plastic cards for Roboforex about the reasons for the sudden termination of cooperation with the broker. Answer of PayOnline we give below:
The translation is: “Thank you for contacting the processing center PayOnline! According to your request we confirm that at the moment we have suspended the cooperation with Roboforex due to financial and legal risks”. After such answer our comments here will be superfluous, we can only say that as we wrote in our previous articles, RoboFX, unable to cope with the financial problems that have arisen in the course of 2014 and the events of "Black Thursday" 15.01.2014 finally put the company on the verge of bankruptcy.