Sources close to Forex Magnates have confirmed that a number of employees have been let go from Boston Technologies powered by ForexWare. According to the information, most of the employees who got laid off were close to the operations at Boston Prime and BT Prime.
Boston Technologies has declined to comment on the layoffs.
Forex Magnates’ reporters obtained information that there has been a substantial shortage of client funds in the client accounts of Boston Prime and BT Prime.
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Market rumors circulating across the industry about the missing client funds in the accounts at the prime entities have been backed by sources claiming that the respective financial regulators are aware of the situation.
A Boston Technologies spokesperson shared with Forex Magnates, “Boston Technologies powered by ForexWare is not an owner or principle of BT Prime or Boston Prime and cannot comment on their behalf. We are aware that there are liquidators in place, and any questions or comments regarding BT Prime and Boston Prime are passed along to their respective liquidators.”
The current Director of Boston Prime and BT Prime, George Popescu, has declined to comment, stating that more information will be provided in the coming days.
Some sources reported to Forex Magnates’ reporters, that FXDD has been the sole liquidity provider for Boston Prime and BT Prime, however this information has not been verified. Boston Technologies declined to comment on the matter.