Your observation reagarding Coes/Spotfx is spot on. ForexInterBank, one of their introducing brokers, cut ties with them over a month ago and they didn't leave quietly. They sent out an email advising everyone under their wing to immediately close their accounts the day after Spotfx (Coesfx) was awarded its second Member Responsibility Action in as many years.

I took their advice and closed my account. Good thing I did. If you read the MRA that came out against Spot Fx Clearing in early October, you'd think these guys were a bunch of used car salesmen. It appears things aren't getting an better for them. The NFA just issued still another MRA against them on November 3.