Uniform request for broker-dealer withdrawal PDF.
Cross Point Capital Advisors is deemed a party to this agreement with respect to the compensation referred to below which it is receiving in accordance with this agreement. Legally Binding Letter of Intent: Definition of the Closing Date: The Closing Date shall consist of Two Parts: Acquisition by Forex International Trading Corp of a This amount shall be paid on the Final Closing Date. Asmelash or any of his designees;.
Incorporated by reference into this agreement, and to be supplied as Exhibit One hereto, are the legally binding agreements with Tulsiana with respect to the acquisition through call and put options, of Acquisition of an Option over In the event that the acquisition of the Option shares under Paragraphs 4 and 5 above fails to close, for any reason whatsoever, and thereafter, Max Asmelash fails to deliver the Acquisition by Forex International Trading Corp of a total of a Forex International Trading Corp shall become the owner of Payment of Certain Expenses by Forex International: Warranty with Respect to any other Accrued Liabilities.
Permitted Accrued or Ongoing Liabilities: Ongoing commitment to the current Services Office space. Asmelash will pay Market Feed fees, for February due March 10 th. If there is any shortfall in cash flow required to pay the Serviced Office space for February , March , and April , including Rental Cost, Telephone cost, and any other basic costs, Mr.
Asmelash shall arrange to pay such costs from his personal funds. Forex International Advisors will explore raising further financing for itself. The Securities Commission of New Zealand has confirmed that none of the companies mentioned are licensed futures dealer nor are authorised to offer futures contracts.
In other words, these companies don't have the license to access the financial market. They are operating like an illegal football bookie. As they are not regulated, they can always refuse payments and run away. The forex market is a very large market with many different features, advantages and pitfalls. Forex investors may engage in currency futures as well as trade in the spot forex market. The difference between these two investment options is very subtle, but worth noting.
A currency futures contract is a legally binding contract that obligates the two parties involved to trade a particular amount of a currency pair at a predetermined price the stated exchange rate at some point in the future. Assuming that the seller does not prematurely close out the position, he or she can either own the currency at the time the future is written, or may "gamble" that the currency will be cheaper in the spot market some time before the settlement date.
With the spot FX , the underlying currencies are physically exchanged following the settlement date. In general, any spot market involves the actual exchange of the underlying asset; this is most common in commodities markets. For example, whenever someone goes to a bank to exchange currencies , that person is participating in the forex spot market.
The main difference between currency futures and spot FX is when the trading price is determined and when the physical exchange of the currency pair takes place. However, it is important to note that most participants in the futures markets are speculators who usually close out their positions before the date of settlement and, therefore, most contracts do not tend to last until the date of delivery.
In any case, as whom you claim you are, you should know better between currency futures and spot forex. Next time; arrest anyone who go to the bank to exchange money. OR do you actually claim you have any idea what currency futures and spot forex is?
Like us who dare risk that high risk return, I am sure you'll feel rather differently by in 2 months. Solai, don't have to so offensive or you make me feel like you are the owner of Edgar. I have a lot of friends who joined Edgar last couple months and recently difficulty to withdraw their money from the pool.
What is your answer again on this? What you quoted futures is a high risk return, but you only look at the return side. As an futures investor, we know return sometime is compensate with risk, however not including being cheat by some asshole. Are you consider scam is one of the factor of Market Risk?
Are you willing to cheat by someone who you even don't know? I am very sure that he has sufficient knowledge to provide value information here. Hayden has a good intention to warn all investor in courtesy at this forum and let us know something happen and NZ SC in the process of investigation.
Don't you think this is one of the sources of information to do trade with Edgar? Hayden is not going arrest someone in front of bank door but look into whether Edgar breach trading law in NZ. Once again, I don't know who you are? Are you one of the owner who recently got elected to be the so call sole shareholder in Edgar? Or are you friend of Franco or Robert Wong? Look like I know Edgar more than you do, huh? Hayden, please post the update findings from your investigation and it will benefit some other trader stubborn enough like Solai.
The company has changed their banks. I'm not sure if this is a normal practice in the forex industry. If Edgar is not regulated, and your monies is with Cosca and Demac, in Edgar's book of accounts, they never receive cash from the clients. If dispute arises, even the regulators can't do anything to Edgar because they never receive any cash.
Moreover, Cosca and Demac are not trustees nor subsidiaries of Edgar. The company issued a statement in their website under important notice. Go check it out. The statement is signed by the managing director who declines to put his name.
This is my first time seeing a letter signed without a name, just the title. I don't think Solai is the owner. He could be the client-turned introducer.
Edgar rewards all the agents and introducers by trading more frequently for them. I've never seen a forex company operates in a multi-level-marketing structure. If you recalled, there are certain hours you can't log into your online trading account apparently because the fund manager is "trading and making profit" for you, so the next time when you log in you'll see profit sitting in the account already.
Profit or no profit, if you can withdraw all your monies then you can consider yourself making money. Think about the consequences, if the introducer makes money but all his friends and relatives lose money if Edgar decide not to pay them one day. It'll be difficult for the regulators to trace them, because: Is this really a high risk investment or a high risk pyramid game? I'm not Hayden Best, I just quote Hayden's email reply. This thread is very popular in google's search for edgar international.
I hope the moderators will not block this thread as I believe it answers many msian's doubt and questions on edgar international. Yes, bestwishes; I have check with New Zealand Securities Commission on their website, but does it matter? Having "someone trade for you" is a short term block investment. If you can get pass the very stressful 2nd rotation, you're home free, loosing does not matter anymore.
I am a real follower now ofcourse until they break, scam or not , edgar? I don't even know who they are. My trust is on my agent and trader.