Resolved - Issue with Fortress Fund Money Manager & Knight Capital Forex Brokerage

[Connecting]

Hi, I think it is quite easy to conclude that those guys at Fortress Fund and Knight Capital are Scammers of first class. I believe it is Ponzi inspired. I will elaborate why i think so:

1. After reading all the comments, it is for me "clear" to see what seems to be going on. After account opening and funds are made from a client, Fortress immediately open hedged positions so that they instantly know that the clients money are locked in, and cannot be withdrawn, due to the written context in the MAM agreement. So know they know that the money are there and until further untouchable. But that does not mean that all clients does not get their money...In Ponzi you pay out to clients with fresh money, that will come in. So if one can lock the money as they do, they have controll and can now pay who they want, and put others on waiting list until fresh money is coming in.

2. The reason they get fresh money, is that they present fantastic results. How can they do that and show it on a respectable site like MyFxBook. The reason is (according to my studies) that any white label broker (a broker that franchise on another broker / liquidity provider) has acces to all meta data on the system. Only if you are licensed user of Metaquotes you can do that. But it is inexpensive to be a white label customer, and hence get acces to "backoffice" and do the manipulation.

3. I personally contacted this Knight Capital, asking them if they had a office in Finland, and their address. I got an address and googled it. It is a virtual office address, where you can have a office for a few bucks a month.

I simply see to many re-flags in all this, and i would personally NEVER invest with a company like this.

Agree they are operating like rogues. Aggressive email marketing and not closing a position is bogus -we trade FX because of it is liquid, its not a fixed term term investment.

 

[EURUSD]

FX market is liquid and everyone is marketing , even look on sides of this forum, who you will find on google ads? A FX broker. So, what should we do, put a ban on marketing by FX companies?

 

[RahmanSL]

FX market is liquid and everyone is marketing , even look on sides of this forum, who you will find on google ads? A FX broker. So, what should we do, put a ban on marketing by FX companies?

Well, we FX Traders can set up shop next to a Money Exchanger (e.g. at airports, train/bus station, etc) to carry out direct selling & buying of currencies to passer-byes/travelers ....no need for forex brokers and banks

 

[oscarra]

Are either of these companies regulated anywhere?

Neither company name show up to be regulated authorized in EU environment, even though known
as US investment firms, however do those provide online trading services.

 

[FelixU1963]

Its definitely a SCAM and I'm one of the victims. Unfortunately I signed up, though luckily with minimum $3000 account in October, before I reviewed the scam forum here. From account balance last night of $3989 and floating profit of $7000 with total equity of $10000+ they patiently waited till the account was blown out by margin call. Now the brokerage are saying its ridiculous to suggest poor trading has anything to do with them. I doubt you'll see any of the trades on myfxbook. See self explanatory email exchange below:
--------------------------------

Felix,
We are a brokerage with thousands of accounts. The suggestion we are responsible for poor trading on your account by a 3rd party is ridiculous.
Best of luck.
Dina
_

Knight Capital - Tier 2 Admin Support Desk

HQ Phone: +358 94 259 7801
Web: KnightCapitalMarkets.com
Email: clients@knightcapitalmarkets.com

Spot FX Trading Disclaimer: Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest money you cannot afford to lose.
From: Felix
Sent: Wednesday, December 23, 2015 12:34 PM
To: Knight Capital - Support Desk
Subject: RE: Your Account. - correction of first line


You should be ashamed to be associated with such a fund manager if you have any shred of decency. At the end of the day who profits from the lost funds of us hapless investors.YOU. How can a trader take an account from $3989 balance with $7000 floating profit and total equity of $10000+ to zero overnight if not deliberately. You cannot say you are not the same company when everyone who opens with Knight Capital is automatically directed to Fortress Fund.
I will do my best to expose this on all the internet forums so that nobody else contributes another penny to your coffers. Despite what one of your colleagues said in earlier reply it is apparent Visa and Mastercard have blocked your so called brokerage already so at least you will not be sucking in more money. My account statements and your callous responses will be posted on Forex Peace Army for a wide audience.
I will not waste my time writing to you and your colleagues again as you are apparently shameless but that's the nature of being a criminal - the lack of shame and remorse.
Felix

Date: Wed, 23 Dec 2015 11:34:31 -0700
Subject: Re: Your Account. - correction of first line
From: clients@knightcapitalmarkets.com
To: feli

Dear Felix,
Thank you for your message.
We are a brokerage. Not a fund manager. I don't understand why you believe we are the same company. They are a 3rd party trading manager.
Please let me know if you have any questions.
Thank you,
Melissa K.
_

Knight Capital - Tier 2 Admin Support Desk

HQ Phone: +358 94 259 7801
Web: KnightCapitalMarkets.com
Email: clients@knightcapitalmarkets.com

Spot FX Trading Disclaimer: Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest money you cannot afford to lose.
From: Felix
Sent: Wednesday, December 23, 2015 10:54 AM
To: Knight Capital
Subject: RE: Your Account. - correction of first line


The events overnight prove my suspicions and confirm what is said about Knight Capital on the internet forums - you people are nothing more than a bunch of cheap crooks running a glorified Ponzi scheme which you have decided to shut down.
I opened account on your so called Fortress Fund with $3000 which is your minimum and today you have managed to blow it all. I had notified my concerns on December 18, 2015 by email that the trader was opening unreasonably high lot sizes which stood the risk of blowing my account and that Visa and Mastercard were now blocking funding. You disingenuously skirted my concerns about the reckless trading and focussed on the card issue with a cock and bull story.
From a floating profit of over $7000 last night with an account equity of over $10,000 last night you have deliberately reduced my account to below zero by refusing to close out the trades when the account was in profit. This is exactly what I said would happen on the 18th. Only a person with malicious larcenous intent would fail to close trades in profit and wait for the market to go the wrong way and blow accounts that were in good profit this way.
In the final analysis, I have invested money I could afford to lose and will walk away from the experience a wiser man, but crooks like you end up in one place eventually - PRISON.
Felix


Date: Fri, 18 Dec 2015 15:09:44 -0700
Subject: Re: Your Account. - correction of first line
From: clients@knightcapitalmarkets.com
To: felixu

Dear Felix,
Great to hear. Please let us know if we can assist you further!
Thank you!
Warm regards,
Anna

HQ: +358 94 259 7801
United Kingdom: 0 800 014 8137
Canada: 877 204 2984
Australia: 1 800 157 706
France: 0800 900972
Germany: 0800 180 6586
Hungary: 06 800 16397
Italy: 800 789 911
Malaysia: 1 800 813 810
New Zealand: 0800 445997
Singapore: 800 120 6460
South Africa: 0 800 982 166
Web: KnightCapitalMarkets.com
Email: clients@knightcapitalmarkets.com

Spot FX Trading Disclaimer: Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest money you cannot afford to lose.

On Fri, Dec 18, 2015 at 11:24 AM, Felix Udoh <felixu> wrote:
Dear Anna,
Thanks a lot for the clarification.
I'll let you know if I have further questions or concerns.
Regards,
Felix

Date: Fri, 18 Dec 2015 10:09:58 -0700

Subject: Re: Your Account. - correction of first line
From: clients@knightcapitalmarkets.com
To:

Hi Felix,
I just received a reply from our card processing agent:
The cardholder entered the wrong 3D secure password.
Bear in mind that attempting againwithin 24 hourswith same card and amount will fail for duplication.
3D is very important because of high fraud in Forex.
We require the 3D so we can ensure you are the real cardholder.
Please let us know if you need any further help with this. I will be glad to help.
Thank you!
Warm regards,
Anna

HQ: +358 94 259 7801
United Kingdom: 0 800 014 8137
Canada: 877 204 2984
Australia: 1 800 157 706
France: 0800 900972
Germany: 0800 180 6586
Hungary: 06 800 16397
Italy: 800 789 911
Malaysia: 1 800 813 810
New Zealand: 0800 445997
Singapore: 800 120 6460
South Africa: 0 800 982 166
Web: KnightCapitalMarkets.com
Email: clients@knightcapitalmarkets.com

Spot FX Trading Disclaimer: Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest money you cannot afford to lose.

On Fri, Dec 18, 2015 at 9:53 AM, Felix Udoh <felixu@> wrote:
Dear Anna,
Nobody told me I was blocked.
I have tried to deposit using both mastercard and visa and both were blocked by the card provider and I think this was clear from my first email since there was a question from Scott regarding the fact I have not deposited or activated the new account.
I was simply explaining why I was unable to pay in to my new account linked to this new email address and expressing concern regarding recent trades by Fortress Fund, over the last 24 hours on my other account linked to my other email (felixu@) which I think are endangering the funds deposited there.
I'll wait and see how the trading goes on the Fortress Fund before deciding if to deposit more on another account.
Thanks.
Regards,
Felix
Date: Fri, 18 Dec 2015 09:23:52 -0700
Subject: Re: Your Account. - correction of first line
From: clients@knightcapitalmarkets.com
To:


Hi Felix,
We receive dozens of credit card deposits each day via Visa/Mastercard.
I'm really not sure what you're referring to.
Can you please explain who told you we were "blocked"?
Many thanks!
Anna
Support Desk

HQ: +358 94 259 7801
United Kingdom: 0 800 014 8137
Canada: 877 204 2984
Australia: 1 800 157 706
France: 0800 900972
Germany: 0800 180 6586
Hungary: 06 800 16397
Italy: 800 789 911
Malaysia: 1 800 813 810
New Zealand: 0800 445997
Singapore: 800 120 6460
South Africa: 0 800 982 166
Web: KnightCapitalMarkets.com
Email: clients@knightcapitalmarkets.com

Spot FX Trading Disclaimer: Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest money you cannot afford to lose.

On Fri, Dec 18, 2015 at 1:24 AM, Felix Udoh <felixu@hotmail.com> wrote:
I have been unable to fund the new account because your brokerage has apparently been blocked by both Visa and Mastercard which causes me great concern regarding the safety of the funds I placed in my other account trading with Fortress Fund.
I have not commented on this till now but recent trades on the Fortress Fund lead me to suspect the trader(s) may be intent on blowing our accounts by suddenly placing very high lot size trades over the last 24 hours and failing to close several trades last night which were in profits of over $100 each and are now in negative territory. If this happens I will not be surprised as speculation as to the good intentions of your brokerage and Fortress Fund have been rife on internet forums over the last few months. I have no understanding why a trader would fail to close net profits of over $700 and allow same trades to drift into negative territory putting my account near a margin call, unless he is intent on blowing my account in collaboration with the brokerage. It seems the trader is now tired and wants to wind down the process having achieved his own personal goals. I am open to appreciating alternative explanations of a positive nature.
I have invested a sum of money I can afford to lose in the Fortress Fund so if the worst happens, as I suspect, over the next few days, I will simply walk away, but I am not prepared to put further funds at risk until I see responsible trading on the part of the trader and a reasonable degree of expectation of a long term return.
I look forward to continuing to work with your brokerage if the events that will unfold in the next few days turn out to be positive.
If I do not get a response from you that will confirm my worst fears.
Regards,
Felix

Date: Wed, 2 Dec 2015 06:22:22 +0000
From: clients@knightcapitalmarkets.com
To:
Subject: Your Account.

Greetings,
I wanted to quickly message you again regarding your account recently opened with Knight Capital.
We noticed you had not yet Activated or Funded your account.
Is there anything we can assist you with in this process?
We're available 7 days a week to serve your needs and look forward to trading with you!
Kind regards,
Oliver Smith
Account Manager

HQ: +358 94 259 7801
United Kingdom: 0 800 014 8137
Canada: 877 204 2984
Australia: 1 800 157 706
France: 0800 900972
Germany: 0800 180 6586
Hungary: 06 800 16397
Italy: 800 789 911
Malaysia: 1 800 813 810
New Zealand: 0800 445997
Singapore: 800 120 6460
South Africa: 0 800 982 166
Web: KnightCapitalMarkets.com
Email: clients@knightcapitalmarkets.com

 

[Jack Alvarez]

Dear All

I recently opened an account with Knight Capital and opted for Fortress Fund Money Manager to manage my trades. Immediately after funding I felt it would be better to do the trading on my own. However after I funded my account the trader opened 4 positions 2 EURUSD and 2 USDCAD (Buy & Sell same time). I requested Fx Broker to detach my account from the money manager's account. They responded saying that i need to contact Money Manager to close the open trades to detach the account.

I requested Fortress Fund to close the trades so that I can detach the account. Now they are saying they can't close as it is not possible to close trades nor I can request to withdraw funds until they close the trades. On their website it clearly says that investor can request detach of their accounts at any time. However now they say that that is not the case and what ever they put on their website is not a legal contract between me and Fortress Fund.

I am now stuck with these guys and I have a feeling that they would just keep the trades running to lock me or any other investor funded their account. Can anyone help?

I guess Knight capital involvement in this as well as when I try to open an account directly with them, My application is forwarded to Fortress Funds without my notice. Which means if I fund my 2nd account it will also link to Fortress Fund without my notice.

Thanks
Vas

 

[jmdelobelle]

You can open an account (minimum 500USD) not linked to fortress fund but do it with another email address.I have done it.
I have found that some EA such GoldBullPro.com is not able to open trades on this ECN account. I did not get a good explanation from them "clients@knightcapitalmarkets.com".
Technically they are weak. They are not regulated, consequently be careful.

 

[Setty Vas]

Hi

Did anyone who deposited funds through Credit Card got their money back from CreditCard company?

Thanks

 

[jmdelobelle]

You can open an account (minimum 500USD) not linked to fortress fund but do it with another email address.I have done it.
I have found that some EA such GoldBullPro.com is not able to open trades on this ECN account. I did not get a good explanation from them "clients@knightcapitalmarkets.com".
Technically they are weak. They are not regulated, consequently be careful.

Added 2015.01.17:
Be careful with them because they have suddenly linked my second "small" account to Fortress Fund without my authorization and I have had difficulties to cut the link.

 

[Alex FD]

Just everyone with a blown account involve the police....they have acted illegally and we need to ensure this doesn't happen again.

Police in Europe I believe are already starting to look at this- so add more powder...