Correction of Neuimex Situation

Today, I've been contacted by Neuimex representative and he told me that the company which is under bankruptcy process Neuimex Asset Management AG (Switzerland) and the Forex broker company Neuimex Direct Dealing (NDD) S.A. (British Virgin Islands) are completely different companies. Thus, Neuimex broker continues its operation as normal and doesn't have any bankruptcy problems. So, you can disregard my recent post about it. Here is exactly what Neuimex representative said:

Dear Blogwriter,

we have to tell you that your message is absolutely misunderstanding and wrong in facts.

http://www.earnforex.com/blog/labels/neuimex.html

The bankruptcy case affects only the following company:

Neuimex Asset Management AG, Switzerland . There is a lot of discussion in Switzerland about these facts and the whole story will be a case for a lawsuit. And regarding the news from them: only the lawyer Mr. Spaniol is responsible for any publications. Neuimex management is by law not allowed to send any message or publish any message to customers. Before spreading such "news" you should know the facts in details.

But different from this there is another company:

Neuimex Direct Dealing (NDD) S.A. registered on British Virgin Islands. NDD has no business connection with Neuimex Asset Management AG - the name is leased from AG for some time as they use the same platform. Neuimex Direct Dealing is a Forex Broker and is working fine and no problems occur. Accounts start from 300USD and mini and standard accounts are available.

And your warning about regulations? I will give you some nice examples:

Marketiva:

Regulatory Information Marketiva Corporation is a financial service provider incorporated as an international business corporation in British Virgin Islands with registration number IBC CAP. 291 Reg. № 646819. Marketiva Corporation is under jurisdiction of the Financial Services Commission (FSC) and conforms with its regulations and internationally accepted supervisory and regulatory standards.

This is Bullshit http://www.bvifsc.vg/ - the same as NDD has.

Northfinance:

NorthFinance.com Forex Broker

We have been trading on the foreign currency exchange market since 2001, going from strength to strength. North Finance is registered in Belize. Its operate within the financial market in accordance with The Memorandum of Association and Articles of Association, which was given to the company by Belize International Business Companies Act. Our success is attributed to the value we place in our customers and the trust they place in us in return. Foreign currency trading with us is simple, safe and open to every trader and investor. Opening an account is fast and ready to activate within ten minutes from any continent. Open a FOREX account with us today to enjoy the benefits so many have already experienced.

Bullshit - the same and nothing worth. And 90% of the brokers you have listed on your website are not regulated. We ask you to be more prcecise and hold to the facts. All offshore brokers write any strange regulation. What is the difference to NDD?

Thanks for your understanding.

With kind regards

Once again, sorry for any inconvenience caused. That just shows how really different naming helps in business.

Neuimex Faces Bancruptcy

Neuimex Forex broker, which offered Metatrader 4 trading with e-gold support since 2005 is now bankrupt and is in process of liquidation. The process began in March this year, but many of its clients are still unaware of this because of a lack of any news from Neuimex.

The Swiss Federal Banking Commission (SFBC) opened bankruptcy proceedings against Neuimex Asset Management AG with effect as of March 30, 2007, 8:00 a.m. The opening of bankruptcy proceedings together with the call to creditors were published on the webpage of the SFBC (see http://www.ebk.admin.ch/e/) on April 10, 2007 and will be published in the Swiss Official Gazette of Commerce on April 18, 2007.

This is a very worrying news for the Forex traders and it once again warns anyone of problems connected with using brokers without a proper historical background or regulation.

Two e-gold Forex Brokers for Your Consideration

Today I am introducing two new e-gold Forex brokers to you - MFN and Neuimex. Although they are both accepting e-gold e-currency for funding and cashing out, they are different brokers in many aspects. MFN offers its own trading platform and allows mini Forex accounts from $500 with a leverage up to 1:400, while Neuimex offers a platform based on Metatrader 4 with the minimum account size of $2,500 and no mini lots available. Both brokers allow CFD trading making them somewhat more attractive for stock market addicts (such as myself ;-)) that like to trade everything from a single account. And unlike Neuimex, MFN doesn't allow U.S. citizens to open accounts (probably because of the managed accounts available).