Alpari Russia is having issues with illicit use of the “PAMM account” trademark, it became clear today, as the retail Forex broker published an open letter to Forex Trend, warning the company to stop using the well-known designation for its services.
In the open letter Alpari stresses that the PAMM methodology was developed by its team back in 2008 and that the rights to the mark “PAMM”, “PAMM accounts”, “PAMM portfolio”, etc. belong to the company. The broker notes that it has no problems with credible competitors using the designation, but Forex Trend appears to be abusing and misusing the trademark.
Forex Trend is a retail Forex broker with an address in Ukraine and a registration in New Zealand too, with the company actively attracting customers in Ukraine, Russia and the Commonwealth of Independent States. There are a number of issues, related to the activities of Forex Trend that represent a problem to Alpari.
Clients of Forex Trend have problems withdrawing their money;
Forex Trend illegally uses the trademark “PAMM” on its website and on an affiliated forum mmgp.ru;
Forex Trend has published on its website a video that was actually created by Alpari.
Alpari seems to be mostly concerned by the fact that what is most likely a Forex pyramid is misusing the “PAMM” trademark, thus representing the service in a negative way and compromising the reputation of the entire industry.
In its open letter, Alpari RU calls on to Forex Trend to stop using the “PAMM account” trademark. The legal teams of Alpari have already prepared the corresponding claims to be submitted to prosecutors in Russia and New Zealand.
You can read the official open letter (in Russian) here.