Hello Administrator,
Sorry if my English will not be that much good.
I have a problem with
http://www.gkfx.com/ , started on October 2012 which I will explain below.
Am a funds manager, and the strategy that am using for management depends on getting bonuses from market makers.
Simply I do hedge between 2 companies while each one of them will add to my account a percentage of bonus on each deposit my clients do. I will open buy trade with broker A and on same time & price & volume I'll open sell trade with broker B.
While using full equity trading approximately after 100 pips one of my accounts will lose all of his money + bonus and the other account will be doubled + the bonus from the other account.
"if needed more clarifications I'll explain more"
So my management style is safe and am not a classical funds manager. and I don't take risk of my clients money .
I had a contact with GKFX dubai office on July 2012, to start working with them as IB and I explained that am using this way for funds management, my strategy was explained over the phone for their Arabic representative in U.A.E which here name HIBA EMAD & HAITHAM TURK.
They agreed to give each of my clients in his account 10% on EACH deposit he do , and to pay me as an IB a rebates + 30% of total clients losses monthly - on the other hand I'll pay 30% of the clients profit monthly so it was a PnL agreement.
Attached a copy of the agreement.
GKFX knew about our business model, and how we are working, when a client loss his money with GKFX , they will not require him to pay the bonus which he lost, and when he double with GKFX and ask for a withdrawal the company will remove the bonus because he is not allowed to withdrawal that bonus unless he reach a certain amount of volume, and since we are not looking to trade and earn that bonus we had no problem with that.
These details are not mentioned in the agreement this way, but that was confirmed hundreds of times by their representatives in U.A.E on phone, and I have a proof that it was agreed not to pay lost bonuses.
The proof in the attached image and statement .gkgx1.jpg (149.8 KB)
1-A bonus amount of 1792.5 USD added to the account.
2-the client traded 21 lots of EURUSD and lost his deposit + the bonus.
3-deposited again and earned new bonus.
4- traded a profitable position.
5- asked for a withdrawal .
6- all bonuses removed.
7- we spoke to the company to remove only the last bonus and not to remove the lost bonus.
8-they've made a correction and returned the lost removed bonus to the account.
This is a proof that this was the situation, I can provide 20 accounts with their access that they are removing bonuses only when we ask for a withdrawal,
and lost bonuses the client won't be asked to pay it back.
Simply this is the case, on October 1st,2012 GKFX without any prior notice took all amount of bonuses from all of our accounts.
All amount we lost at one time of a total bonuses passed 150 K USD.
Account login: 17075
Inv. Password: abc123
Server: 80.169.15.100
You will see live what happened to the account.
That was just an example.