Last updated, $2.4 Million reached in deposits in 10 weeks.
Now that Forex50 Investments apparently has scammed everyone, the investors from other investments are very worried about the same thing happen to Elite Earners Club, so some admin people started to try to calm everyone down.
Now there is something that caught my attention, Tamoor Tariq, the creator and the trader behind Elite Earners Club has visited Dubai to meet up with some investors and to make it the investment regulated. He posted a video about It on his group, here is the transcription.
" Some of you may be wandering where I've been, I have not posted regular updates as usual, I'm here in Dubai, the purpose of my visit was to meet a couple of lite forex representatives, to ensure the safety of our funds, as some members raised some concerns about the investment, specially on some online forum, most of them a fake, posted by the competitors, but we can't judge a broker or make our decision based on those review, I base my decision on from my experience, I came here, I've met them, I've seen how they work, our accounts are ECN, they are distributed direct to the liquidity providers, we are very safe with lite forex, I've discussed the security of our funds with our broker.
In the next couple of weeks, we'll be signing some legal documents to ensure the safety of the funds, and this should take few weeks. In our trading reports, in the next following weeks, we will not able to show the account numbers anymore, this is what's happened. A few people went to the office (lite forex) in the Philippines, to confirm the account numbers, a few people can do thing that are not good for us. In the future, we will have to hide the account numbers, but everything else will be opened, as we always do, to be transparent.
We started the procedure of register EEC, and register the business in Dubai, but this doesn't mean we will be a regulated hedge fund, guys there is a huge difference between a regulated hedge fund and a forex fund that we are running, for a regulated hedge fund, we have to disclose the all of the identify documents to the regulated authority and where you (the clients) are getting the funds as a proof of payment, we may look at that in the future, because it has a lot of complication, specially for the investors.
I've been thinking about it, we should have some sort of regulation, so no one will be able to question our integritiy and our existence.
So this brings me to the most exciting news, how would you feel if the broker, if we are our own brokers? Here we go guys, we are starting our own Forex brokerage firm, fully regulated, fully legal, we'll have offices in 2 countries, we've done most of the paperwork, we've taken 2 investors onboard with us, it doesn't mean we will have stop trading with Lite Forex, but again, having our own brokerage firm, it will take our brand to another level. Guys, our own brokerage firm, guys this is biggest news so far, I've still got a couple of months, we closed deals with a couple of investors, we started the paperwork it will take about 3-4 months for the business to be registered and after we'll regulate with the regulated authorities, it's going to be a regulated broker firm, it will be called Elite Forex, guys we'll take this brand to a different level, I hope you guys are excited about it.
I'm working for the stability of this program, I'm working to make this brand huge, to make a Billion Dollar business, I'm not going to rest until I've done this. I want this to be my legacy, I want people to remember with me. This is it, we started the paperwork, we're going to visit a couple of countries, the people that I've have partner up with will.
Then again, just to make it clear, Elite Earners Club and Elite Forex are 2 different things, Elite Forex will be our forex brokerage firm, which will be trading in 3-4 months time, I hope you are as excited as I am, I'll be posting regular updates about the developments about it, as soon we get the regulation and once the business is registered, we'll be updating you.
I'll be staying in Dubai for the next 2 days, I've signed the documents, we'll be registering Elite Earners Consultation to help and to facilitate our investors, to provide better consultation to our investors, second, we are here to manage the funds, register the business here, register in bank accounts, I'll be going over some paper work here and we have some more news: we'll be taking 2 more traders on our trading team, they are from Lite Forex, very very good traders and we will starting our new trading accounts.
I just hope you guys are excited as I am, enjoy the rest of the week, take care, good bye".
This is the transcription of the audio where Tamoor Tariq describes that his investment is going to be registered.
Among all HIYPS out there, I have to confess that this is a good news, we'll be keeping monitoring this one and see how it unfolds, I'm still skeptical about the consistency of +10 to 15% weekly profits as I never met anyone capable of doing that, but if gets registered and possible regulated as a broker, show trading results on myfxbook, remove the money from his personal trading account (where all the clients money are at the moment) and put then on a segregate bank account, on each client's name andregulate the investment with a reputable authority. Then I'll be interesting in looking closely to this investment.