Your Question: how do you trust accounts
Please wait, an operator will be with you shortly.
You are now chatting with John Islington - General
15:20John Islington: Hi, Thanks for getting in touch with FxEthos
15:20John Islington: How can i help you today?
15:20apaman: how do you trust accounts
15:21John Islington: can you please explain?
15:21apaman: how do you trust client's accounts
15:22apaman: FXEthos states all client's accounts are entrusted
15:24John Islington: Yes
15:24John Islington: Thats right
15:24apaman: please let me know scheme
15:24John Islington: The client funds are sent to a trustee account
15:24John Islington: which is an account that is shared between FxEthos and the registered trustee
15:25John Islington: this ensures maximum safety for the funds
15:25apaman: which account
15:25John Islington: as not even a single dollar can be deposited or withdrawn without the trustee signature
15:25John Islington: the Bank account where the clients wire the money to
15:26apaman: yes
15:26apaman: to which bank account
15:26John Islington: So, FxEthos cannot withdraw client funds on its own even if it wants to unless the trustee authorises it.
15:27John Islington: The bank account is in New Zealand
15:27John Islington: The bank account is in New Zealand
15:27John Islington: The bank account is in New Zealand
15:27John Islington: The bank account is in New Zealand
15:27John Islington: with the Bank of New Zealand
15:27apaman: the account you show on your site?
15:28John Islington: Yes thats correct
15:28apaman: the account is a foreign currency call account
15:29apaman: how do you en trust all client's funds with the foreign currency account
15:29John Islington: We have a USD account and a SGD account with the Bank of New Zealand
15:30John Islington: The trustee is in New Zealand
15:30apaman: which trustee ?
15:30John Islington: It is a legal firm in New Zealand that is registered with the government to be a trustee
15:30apaman: name please
15:30apaman: name and url
15:31John Islington: Stewart Associates
15:31apaman: do you know their url ?
15:31John Islington: Yes
15:31John Islington: http://www.stewartlaw.co.nz/
15:32apaman: great
15:32apaman: which is your FSP #
15:34John Islington: Please give us your email id and i can send across the details as i dont have it right now with me
15:34apaman: The FSP said all funds will be sent to oversea
15:35apaman: what does it mean ?
15:35John Islington: I am not sure what it means sir. You would need to enquire with FSP on what they said
15:36apaman: using a foreign currency account means all funds will be sent to oversea
15:37apaman: I guess
15:37John Islington: As i said, i cannot understand what they said.It would be great if you enquire with FSP about it so that you can be sure.
15:38apaman: The FSP also said you were not registered FSP
15:38apaman: But you claim to be a regulated brokerage
15:39apaman: what does it mean ?
15:40John Islington: Their records take about 2-3 months to get updated. So,if they check their records now, our names may not figure in it. Also, the name that we are registered with them could be different from the name that you had asked with them.Hence the confusion.
15:40apaman: correct name ?
15:41apaman: so when did you register ?
15:43apaman: the records are updated once they are registered
15:43apaman: why does it take so long time ?
15:45apaman: why trustee's account is a foreign currency call account if you really do business in NZ ?
15:47apaman: ok you can not answer.I disconnect. bye
