Guys at GCI Forex, What You Did With Is Public Defamation. Come On!

Hi everyone

I have a big problem... a capacity of getting myself into conflicts that are not mine. It has happened to me since I was a kid. The problem lies that I can not stand lies. Of course we all lie. Small lies to make a story brighter or to highlight something, but there are lies that are made on purpose to just hurt others or to keep a big lie alive.... and I just can't stand this kind of lies.

This is what happened between Forex Broker GCI Forex and the website

I know founder Steve Moxham since 2007 but I've followed his site since it was created in 2004. GCI Forex has also been long in the industry and I even met its founder Mitch Vasquez once here in Barcelona when they were trying to expand in Europe. Then the company had to flew out the US when they got a Cease & Desist Order by the CFTC in 2002 and went off-shore to Belize. When they got a Cease & Desist Order by International Financial Services Commis... in 2010 I lost their track. For my surprise, the company survived and they are still in business.

If you wish to know more about GCI's founder Mr. Vasquez, there is an US writter Teri Buhl that knows a lot about him, his wife and private affairs:

Investigative Journalist Teri Buhl Blows the Whistle on Sex - YouTube has a section where users posts comments about Forex Brokers. You can imagine the comments placed there about GCI. 

The way GCI found to fight back was through positive reviews by prestigious sites and publicly defaming websites like or

In GCI's words:

"Fake “review” websites are a widely known problem among many in the forex community.  So in order to help everyone just starting in Forex Trading, we thought it best to expose scam websites on our blog, and help traders sort through legitimate and illegitimate “reviews.”

All it takes is one some illegitimate sites, like, to see that they are trying to smear GCI, rather than provide objective reviews.  Fortunately, there are many legitimate Forex websites including,, and"


Come on! who are you trying to fool???

We have a saying here in Catalonia that says: "paying Saint Peter Sings".... GCI statement is false and defamatory. We all know that at least one of the sites they provide as reliable, reviews your site if you pay for their service. They do not have any policy that excludes a broker to be accepted in their service like what we had in FXstreet till we decided to Geo-target traffic and just display brokers authorized in every country.

I gave GCI days enough to amend defamation but they just did it in part. So I am meeting with my word to make public the e-mails I sent to GCI.

I think Steve and deserve it.

I can not respond for the honesty of anyone in this fight, but the arguments used to disqualify are not true.



---------- Forwarded message ----------
From: Francesc Riverola [] <>
Date: Tue, Apr 30, 2013 at 1:20 PM
Subject: Re: Fw: Remove
To:, mitch <>
Cc: steve <>

Dear Mitch
Upon my request, looks like your people have modified one of your review pages [] but have left the meta description as follows:
Meta Description: "GCI is NOT a scam broker! Beware of biased Forex Review sites and fake GCI Financial Reviews. Stay away from Forex Peace Army and GoForex. Learn more"
There are also two remaining pages which they have not modified or deleted:

I will check this three links tomorrow morning BCN time. If they have not been completely amended, I will proceed with the publication of the e-mails sent to you

I am sorry for that but you are giving me no choice



Francesc Riverola, President & Founder |
- Blog - Stay connected
Tel. +34 93 3040495 - Fax. +34 93 3040496

On Tue, Apr 23, 2013 at 10:47 AM, Francesc Riverola [] a href="" target="_blank">> wrote:

Dear Mitch

As I did not get any answer from anyone at GCI Trading I am sending the  e-mail again to same address and this time to you.

If this issue is not amended by Tuesday next week, I will make these e-mails public.

I can stand many things, but not lies... and GCI is lying and defaming a site that does not deserve it

Please, take actions and amend this unfortunate issue



Francesc Riverola, President & Founder |
- Blog - Stay connected
Tel. +34 93 3040495 - Fax. +34 93 3040496

----- Original Message -----
Cc: steve
Sent: Friday, February 22, 2013 1:30 AM
Subject: Remove

To whom it may concern.

I have been notified by about the dispute you are holding with them

I've seen this at GCI website:

This is false as well all know that reviews your site if you pay for the service. They do not have any policy that excludes a broker to be reviewed like us FXstreet, so do not lie in public.

Please, remove this or I will take actions against such lie.

Also, we do not like at all that you are referring as a fake review site. The site has been long enough in the industry to deserve some respect. Please amend.



Francesc Riverola
President & Founder
Blog -
Twitter -
Portaferrissa 7, 1er 2ona
Barcelona, 08002
Tel. +34 93 3040495
Fax +34 93 3040496

Views: 1217

Comment by Uschi on May 2, 2013 at 9:22pm

hmmm, francesc,

i was very alarmed as i´m with gci, then i was reading the comments on and started really worrying, than i read randomly reviews on some other brokers and stopped worrying, most of the reviews are negative, you find always warnings like: worst broker, stay away, they rip your money and so on,..... for example gft (i was reading, this as i remember that peter was with them) quote "....they will steel you blind with their account sync....

seems that mostly frustrated traders make reviews

i am with gci since 2008 and so far they seemed quite o.k. to me, yes sometimes are to much requotes, (but not always), the help desk always fulfilled my requests when i complained about not filled orders, withdraws are executed in good time,

really don´t know, maybe i´m fortunate, however i can not compare them to other brokers as i have no experience with others, but i heard worse things, but who knows what´s true   

Comment by Uschi on May 2, 2013 at 10:06pm

the post on gci blog is from november 18 2011, why comes this issue up now?

Comment by Romano on May 3, 2013 at 8:06am

Like Daologic said, competition often fight like this. I even heard some to go as far as hiring hackers to DOS attack competition servers(so people will get platform disconnections). But to say "stay away from forexpeacearmy" they just shot themself in the legs(AND between). Another spanish saying is: La Vida Loca!

Comment by Francesc Riverola on May 3, 2013 at 8:48am

Why now? good question Uschi... this is something you should ask Steve Moxhan at my guess is that he tried to sort it out directly with the broker and when he gave up he came to me, but I am not sure.

From my side, I do not care if it was dated in 2011 or 1999, a lie is a lie.

I also agree with you guys that many of the bad reviews come from angry traders that lost it all and blame everyone but themselves. I think brokers must find other ways that cheap reviews and free defamation to protect themselves and their brands.... Others are doing it, I do not see why GCI Forex can not do it as well.

Comment by Uschi on May 3, 2013 at 1:05pm

first: @ max: i do not want to encourage you to open an account with gci, one never knows what will happen, it is the same as with trades: you must make your own decision.

second @ all: in my experience in all ways of live you will meet people who try " to rip you off", my bank tried, (when i came to italy 20 years ago, first i had an account in the next bigger city, then i opened one in my nearest village, on the first account-statement i saw that they charged something like a 10fold of fees in comparison to the other bank, i met the responsible and told him that this account is of no use for me and i intend to close it, very fast he found a solution for me with almost no fees), when i was a student my landlord tried and last year a very good friend of mine tried, really honest people are quite rare, as my neighbor, an old farmer last day said: "mankind is difficult to manage, they even kill one another",

what i want to say: don´t be a sheep, be always alert and defend yourself, negotiate, claim your right and if necessary even menace to keep your position, but do not complain nevertheless whine, it´s simply human

wish you all, all the best

Comment by Francesc Riverola on May 3, 2013 at 3:10pm

Hi Max

Steve and I are not friends, just colleagues of FX sites that respect to each other. That's all.... and yes, I agree with you that I could be biased towards the weak in the dispute.... I can not deny it :(

Comment by Francesc Riverola on May 3, 2013 at 3:37pm
No worries at all Max,... Always do your due diligence with the broker you may pick to avoid unpleasant surprises


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