This announcement came in the midst of a crisis that ended the pyramids dot the international currency market. Several illegal recruiters were offering their customers high profits because they supposedly were investing in Forex, but in reality had nothing to do with this business, as was established later. Operate as disguised pyramids.

Therefore entities monitoring the time saw fit to clarify that so far the only firm that had requested permission to open a representative office was Forex FIT, based in Zürich, Switzerland.

However, in February this year panicked. Money was established that the signature had suffered heavy losses in the business, which made many investors nervous.

“In December he was given a lot of visibility to the fact they were the only supervised by the Superintendence of Finance, as announced in the notices of the press. So, as I hope some of our money. In my case $ 20,000,” says one of investors who lost more than 50% of their participation and prefers to keep in reserve its name.

FIT sources say that Forex has about 500 customers and that the resources entrusted to it amounts to about $ 100 million. In fact, it takes six years in the country to promote these services.

The chairman of the firm, Jairo Sanchez, says that in February took positions of euro-dollar and dollar-pounds (Forex transactions are conducted between pairs of currencies) thinking it would just go up and left spiral, which ‘Paniqui’ more than one investor. Argues that the coup and assimilated more were removed, while others were waiting for results in the longer term.

“The first thing we do is to caution investors that these are high-risk operations, which can occur even loss of all the money and do not have a guaranteed return or monthly or yearly,” he says.

According to Sanchez, one of the positions that opened in the euro / dollar made 1.30 (euro to U.S. $ 1.30). “It was not the most desirable by the volatility of currencies due to the economic crisis, but left open the position and the euro fell to levels of 1.24 and 1.25. If it had been settled at that point would have been more losses high. Today it is 1.27 or 1.28. No currency goes up or down forever. If the euro continues to rise, most likely those who stayed with us are going to recoup their investment, “he said.

Sanchez emphasized that the representative office in Colombia of FIT Forex Investment Team does not capture the public’s money. “The entire operation is carried out abroad. We do not handle a single dollar. The company in Switzerland is responsible for operations and contracts, which contain one sentence statement of risk that investors must read and then sign . The statutory scheme in Colombia only allows us to promote and advertise products and services offered by the entity abroad, “says Sanchez.

Surveillance Firm

The superintendent Financial Roberto Borrás, noted how the monitoring by the institution has to do with the firm complies with all aspects of how to carry out the promotion of the services provided by the parent company abroad.

“One of the requirements of the Superintendent is that the advertising clearly explain that this is a high risk business and we have been doing so far. It is worth clarifying that the operations conducted by the firm on the outside can not be monitored by this body, “said the official.

However, Borrás confirmed that because of what happened recently, Superfinanciera is verifying that the representative office continues to meet fully its role in promoting a service that is not in Colombia but abroad.

As a relatively new business, there is much that has been speculating on the market of electronic currencies, on which there is still much material to cut. So warns Ricardo Javier Rodriguez, who is devoted to this activity in Miami. “If there is still a great ignorance on the part of the financial authorities in Colombia who have not yet regulated in this country, imagine what they can find ordinary people who call to invest in this business,” she says.

Explains, for example, which are far from knowing that brokers (the market makers) have been sued in Europe because of the nature of the exchange of money makes a loss is the gain of another and there are many interests move below the table.

Undoubtedly, what happened in these days with investors from Forex Investment FIT Team will provide the experience and study to continue learning about the world market of electronic currencies, where in the country are taking just the first steps.