Broco is one of the most prominent brokerage companies in international operating in the field of Internet trading. With the help of modernized products of high quality, diverse services and a competent team, Broco manages to cater various needs of traders and investors and facilitates them with all essential tools for successful performance on financial markets.
Broco was established by traders for traders, it is one of few trading companies with employees who actively work and earn on global financial markets. Being aware about needs of traders, we manage to launch efficient and cutting edge services.
Broco works to:
Though we are not going to rest on our laurels but continuously provide new opportunities. Some of our services were introduced on international market for the first time. We were the first who offered Strategy Runner platform for professional traders and, accordingly, access to the operations with currency pairs and futures through this platform. Besides, Broco introduced the unique facility to trade with mini futures, futures CFDs, derivatives and indexes.
As of today we are ready to offer the following services for newbies and professional traders:
We work for your success.
|Headquarters||Office 113, 2-nd Floor, Medine Mews, Chaussee Str., Port Louis|
|Free phone||+44 2002 227 763|
|24 hour support|
|24 hour trading|
|Digits after the dot in quotes|
|Minimum position size|
|Pip spread on majors||2-5|
|Standard account, $||500|
|Mini account, $||25|
|Other payment methods|
|Popular payment methods||Wire, Web Money, Liberty Reserve, Money Bookers|
|Other instruments||forex, metals, futures, stocks, options|
|Languages||English, Chinese, Russian, German, Arabic|
|Platforms||Broco Trader, Currenex, CQG, Autotrader|
for your money Gover...they take mine all with they hunting stop loss, all it was good with demo...then they suicide me.
I know about Russian Roulette. This suicide. I do not understand why these Russian from Broco want my suicide and other clients.
Better I'd call Russian Roulette - contest. Also, you are not looking at other competitions - like Management school. Where can u find something like this? Just show your skills and get a funds in management. So, Mr. Competitor, you are not objective.
Russian owner, Russian employees, crappy Cypriot license, trading competition called "Russian Roulette"...and you are surprised they manipulate clients trades?? Wake up!
Forex Magnates today:
From Forex Magnates today 03.17.2010
BroCo Investments Inc. alleged to have manipulated client positions.
It’s an odd piece of news that just broke: SEC has announced that it obtained an order to freeze the capital of BroCo Investments Inc. and its owner Valery Maltsev. BroCo Company is a pretty large and known Russian broker which offers multiple investment products in addition to Forex. However it is unclear what is the relationship between BroCo Investments Inc. and BroCo Company itself and reading the texts below I believe it used as a US subsidiary for BroCo to either collect profits made from US activity or introduce clients to Genesis Securities LLC (a local partner of BroCo or its gateway to the US stock markets) or both.
What’s most amazing here is what SEC alleges that happened and I highlighted it in Bold within the SEC’s release below:
On Monday, March 15, 2010, the United Securities and Exchange Commission filed an emergency action in the United States District Court for the Southern District of New York to freeze the funds of Defendants, located in Russia, responsible for a hi-tech market manipulation scheme. The Honorable Richard J. Holwell, granted the Commission’s request to freeze the Defendants’ funds pending a preliminary hearing, including an account that holds asets in excess of $500,000.
The Commission’s complaint alleges that BroCo Investments, Inc., its president Valery Maltsev, and/or individuals acting in concert with them hijacked the online brokerage accounts of unwitting investors using stolen usernames and paswords and subsequently placed unauthorized trades through the compromised accounts to manipulate the markets of at least thirty-eight issuers between August 2009 and December 2009. In almost every instance, prior to intruding into these accounts, the Defendants acquired positions in their own account. Then, just minutes later, without the accountholders’ knowledge, the Defendants, and/or individuals acting in concert with them, placed scores of unauthorized buy orders at above-market prices using the compromised accounts. After these unauthorized buy orders were placed, the Defendants sold the positions held in their own account at the artificially inflated prices. In other instances, the Defendants profited by covering short positions previously established in their account while placing unauthorized sell orders through the compromised accounts at substantially lower prices. This illicit account activity artificially affected the share price and trading volume for each of the thinly-traded issuers and enabled the Defendants to sell their holdings at a substantial profit, realizing at least $255,532 in ill-gotten gains.
The Commission’s complaint further alleges that the Defendants violated Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 there under and seeks permanent injunctions against future violations by the Defendants and disgorgement of all ill-gotten gains, including prejudgment interest and civil penalties.
The SEC’s Office of Investor Education and Asistance has previously issued an investor alert, available on the SEC’s website, which provides tips for avoiding becoming a victim of an online intrusion. See http://www.sec.gov/investor/pubs/onlinebrokerage.htm.
The Commission acknowledges the asistance of FINRA and the NYSE in this matter.
See Also: SEC Complaint or scroll down to see it embedded.
BroCo immediately replied to that with the following statement on their site as well as changing the homepage to a picture of presumably Valery Maltsev and his personal statement:
Explanation of the situation with Genesis company, the USA
On March, 16, some mas media published the information that the US district Court of southern district of New York froze asets of BroCo Investments Inc. hold in Genesis Securities company. The company was accused in illegal accessing investors’ accounts for further market manipulations.
Reasons and claims of the USA Securities and Exchange Commission do not seem founded for the company.
“As representative of Broco states, to provide our Clients with an access to the US stock market, we signed a sub-brokerage agreement with Genesis Securities LLC. The procedure is that for every Client we open subaccount in Genesis Securities LLC and submit the package of documents for Client. Client account is opened upon examination and they get access to Laser Trade platform. Transactions on subaccounts are performed by Clients not by the Company. We provide this service starting from 2008 fall and since that time we have not received any complaint from Clients regarding unauthorized accessing, hacking, damage or other problems on their accounts. What is important is that our contractor – Genesis Securities LLC — had never made any claim regarding trading style of our Clients”
— comments official representative of the company.
“Among traders using Laser Trade platform there are many professional traders who demonstrate sustainable results and achieve high yield. It is possible that their successes attracted attention of SEC. Please note that this situation will not affect your trading on other platforms in Broco. Currently we have only Laser Trade account frozen. Personal accounts of company’s president are not frozen as well and he can continue operations on stock market. Now our lawyers examine the situation and we are waiting for representatives of Genesis Securities LLC. Thus very soon we will have full information about reasons of complaint and hope that the situation will be resolved. ”
And this is what appeared on company’s website as another personal statement: