It's a big SCAM !!! Stay away !!! Knight Capital Markets cooperate with a real SCAM called Fortress FX Fund.They empty all trading accounts in ONE day when they opend 20 positions that was terrible wrong.I will give you all a big warning, do not deposit money to Knight Capital Markets or Fortress FX Fund. And you guys saying this is a legit company, wake up please, what a joke. I think, Hiroko W. is virtual person.
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Knight Capital Markets & Fortress Fund (Warning)
- Thread starter WayneH
- Start date
sasquatchian
Recruit
- Messages
- 2
GET OUT OF KNIGHT CAPITAL MARKETS AND FORTRESS FUND
I have an account with Fortress Fund and Knight Capital Markets and this is what happened to me. My initial deposit was $3000.00 On Dec 4, 2015. On Friday March 4, 2016, my account balance was $3216.00, with 6 open trades showing -65.00 to -70.00, and net equity at approximately $3150.00. That is a net gain of 5% in 3 months. Not very good for the level of risk trading forex.
There were 6 open trades in 3 pairs, in my account,
EUR/USD CALL showing a profit of $1500.00 (approx)
EUR/USD PUT showing a loss of $1500.00 (approx)
EUR/USD CALL showing a profit of 60.00 (approx)
EUR/USD PUT showing a loss of $60.00 (approx)
GBP/USD CALL showing a profit of $1500.00 (approx)
GBP/USD PUT showing a loss of $1500.00 (approx)
I can`t give you the exact amounts, because I have been locked out of my account, but these 6 trades were showing a loss of approximately $70.00.
I sent an email to Fortress Fund on March 4 to close all trades and to immediately cease trading. I didn`t hear anything back from them. On March 9, I sent another email to Fortress Fund, demanding that trading be, immediately, stopped and all positions closed. About 3 hours later I checked my account. All trades had been closed, and my account balance was -$306.00.
I looked in the account history to see what happened. There were only 4 trades in the account history. The 2 trades, above, that showed a large profit, were gone. They had been removed, both on the close and, also, on the open. All record of these 2 trades had vanished.
I have contacted Knight Capital about this and they have asked for a a screenshot. I told them there is nothing to take a screenshot of because the 2 profitable trades have been completely removed from the platform. i asked them who has the capability to remove trades from my trading platform, but they have not answered my question.
Here is the last email I received from Knight Capital.
"Dear Barry,
The fund you've referenced had a very large trading loss from glitches. I can confirm that no money was stolen simply lost to a very high-risk trading strategy.
Kind regards,
Lester"
Someone at Knight Capital or Fortress Fund, or both, stole $3000.00 from my account. If you are involved with either of these companies, I strongly urge to get the hell out, if you can. It was a $3000.00 lesson for me.
sasquatchian
I have an account with Fortress Fund and Knight Capital Markets and this is what happened to me. My initial deposit was $3000.00 On Dec 4, 2015. On Friday March 4, 2016, my account balance was $3216.00, with 6 open trades showing -65.00 to -70.00, and net equity at approximately $3150.00. That is a net gain of 5% in 3 months. Not very good for the level of risk trading forex.
There were 6 open trades in 3 pairs, in my account,
EUR/USD CALL showing a profit of $1500.00 (approx)
EUR/USD PUT showing a loss of $1500.00 (approx)
EUR/USD CALL showing a profit of 60.00 (approx)
EUR/USD PUT showing a loss of $60.00 (approx)
GBP/USD CALL showing a profit of $1500.00 (approx)
GBP/USD PUT showing a loss of $1500.00 (approx)
I can`t give you the exact amounts, because I have been locked out of my account, but these 6 trades were showing a loss of approximately $70.00.
I sent an email to Fortress Fund on March 4 to close all trades and to immediately cease trading. I didn`t hear anything back from them. On March 9, I sent another email to Fortress Fund, demanding that trading be, immediately, stopped and all positions closed. About 3 hours later I checked my account. All trades had been closed, and my account balance was -$306.00.
I looked in the account history to see what happened. There were only 4 trades in the account history. The 2 trades, above, that showed a large profit, were gone. They had been removed, both on the close and, also, on the open. All record of these 2 trades had vanished.
I have contacted Knight Capital about this and they have asked for a a screenshot. I told them there is nothing to take a screenshot of because the 2 profitable trades have been completely removed from the platform. i asked them who has the capability to remove trades from my trading platform, but they have not answered my question.
Here is the last email I received from Knight Capital.
"Dear Barry,
The fund you've referenced had a very large trading loss from glitches. I can confirm that no money was stolen simply lost to a very high-risk trading strategy.
Kind regards,
Lester"
Someone at Knight Capital or Fortress Fund, or both, stole $3000.00 from my account. If you are involved with either of these companies, I strongly urge to get the hell out, if you can. It was a $3000.00 lesson for me.
sasquatchian
I hope no one new gets involved with Knight Capital Markets or Fortress Fund, there are so many posts here about it and a a very bad review (with fake posts) at https://www.forexpeacearmy.com/public/review/www.knightcapitalmarkets.com
Stay away from them. They are scammers and acting very unethical.
For some time there was also warning at broker review page to stay way, don't know why it was taken down.
ForexPeaceArmy moderators? why did You put down this warning at above page? Please put this again as many people still suffer from their malicious actions.
I was able to get out and get my money back, but I think I was just lucky, nothing else.
Stay away from them. They are scammers and acting very unethical.
For some time there was also warning at broker review page to stay way, don't know why it was taken down.
ForexPeaceArmy moderators? why did You put down this warning at above page? Please put this again as many people still suffer from their malicious actions.
I was able to get out and get my money back, but I think I was just lucky, nothing else.
Simon selvam
Recruit
- Messages
- 8
Seems like I'm also a victim of lionfund and knight capital brokerage. My funds were ok making a profit of 2k since February. However, after hearing some bad reviews about Lion fund, I emailed knightcapitalmarket.com requiring them to cease lionfund from managing my funds. They immediately mentioned it's no their call and wanted me to contact them which I complied. After writing a email to them, I noticed my trades went erratic. Normal trades were traded at a lot size 0.3 to 0 5 but they were constantly traded at 3.5 on wrong trades and as expected my account got blown. All these happened within the last 3 days incuding weekend. When I called and emailed, this was the email that I got with jargon and sophisticated email from the **** of a manager called Alex.l, so to say that my account is depleted. The email is as follows.
Hello,
I hope you've been well since our last correspondence. That being said, and when considering the current issue at hand, it will be necessary to recognize, acknowledge, and understand the fact that we are participating within the most risk-abundant, highly volatilefinancial market in existence during a time in which we are currently enduring a global economicDepression and underlying climate of unprecedented nature on a worldwide scale since the Great Depression.
As such, we have recently experienced inevitably difficult market conditions, based on unprecedented changes for the first time since 2008. This hastranspired on a magnified scale, which has catalyzed unfavorable results uncharacteristic of the achievements the Lion Fund Trade Managers contracted to oversee the program, as well as all global asset managers, have experienced within a customary economic climate during ideal market conditions. Within such an atypical world environment, unorthodox losses oftentimes result in ultra-aggressive, overly speculative novelty programs such as Lion Fund.
This unfortunate development has combined with your account having experienced severely inopportune market-entry timing in proximity to the initiation of this recent unfavorable markFet state.
On that note, I find it very important I address your important concern in comprehensive fashion. The Lion Fund Manager was utilizing a verysophisticated, methodical employment of within client accounts so as to effectively mitigate what otherwise would have been an instantly catastrophic, adverse price movement across all major currency pairs.
Of course, it is a physical impossibility to successfully accomplish negative trade eradication without the necessary periodic release of said positions in strategic fashion at prospective turning points in price action so as to allow corrective price moves to neutralize open draw down while being offset by realized profits generated through theaforementioned orders. Whenpositions are released, it is necessary to allow price movement to "breath" and illustrate directional bias.
Furthermore, pending orders must be strategically placed at selective points far enough in proximity to important support or resistance levels to ensure any re-entry into the is not made in vain. Therefore, equity will bleed in nominal, successive amounts until the proper, successful corrective point is reached. Under typical market conditions, the average trend-based price movement which would necessitate the employment lasts but 1-3 days and requires no greater than 1-3 releases prior to successfully identifying the correct turning point necessary to remove clients from trades intact.
We continue to face a global economic climate of unparalleled proportions since the Great Depression and have chosen to participate within the most volatile, risk prevalent market out of all the financials. As such, and when combined with notoriously thin, unfavorable summer market conditions and a unique disconnect of customary inter market behavioral correlation losses uncharacteristic of standard performance within ideal conditions do occur.
Although it will be no consolation to your frustration, it is of paramount importance you understand that we have endured, as a world society and global investors, a first-time global market climate and world economic condition absolutely unmatched in decades. This marks a unique juncture in this Manager’s 3 year record flawless aggressive trading.
Based upon our longstanding, personalized communication with one another, I'm confident you will recognize the fact that I am sincerely regretful of having had clients, including yourself, eliminated from market participation. Your ongoing recognition and understanding of current conditions as well as the unwavering state of my dedication with the sincere best interest of clients at heart is both valued and appreciated.
For these reasons, I must reiterate that I am genuinely apologetic in having to inform you that the entirety of your risk capital was depleted by the Lion Fund Manager.
Should you have any additionalquestions or concerns regarding these very unfortunate market events, please be sure to follow up with me. I will remain readily available and sincerely dedicated to assuring your inquiries are immediately and thoroughly answered.
Sincerely,
Alex
Wonder what should I do next?Anything I should do. Any advice?
#369 minutes ago
Reply
Hello,
I hope you've been well since our last correspondence. That being said, and when considering the current issue at hand, it will be necessary to recognize, acknowledge, and understand the fact that we are participating within the most risk-abundant, highly volatilefinancial market in existence during a time in which we are currently enduring a global economicDepression and underlying climate of unprecedented nature on a worldwide scale since the Great Depression.
As such, we have recently experienced inevitably difficult market conditions, based on unprecedented changes for the first time since 2008. This hastranspired on a magnified scale, which has catalyzed unfavorable results uncharacteristic of the achievements the Lion Fund Trade Managers contracted to oversee the program, as well as all global asset managers, have experienced within a customary economic climate during ideal market conditions. Within such an atypical world environment, unorthodox losses oftentimes result in ultra-aggressive, overly speculative novelty programs such as Lion Fund.
This unfortunate development has combined with your account having experienced severely inopportune market-entry timing in proximity to the initiation of this recent unfavorable markFet state.
On that note, I find it very important I address your important concern in comprehensive fashion. The Lion Fund Manager was utilizing a verysophisticated, methodical employment of within client accounts so as to effectively mitigate what otherwise would have been an instantly catastrophic, adverse price movement across all major currency pairs.
Of course, it is a physical impossibility to successfully accomplish negative trade eradication without the necessary periodic release of said positions in strategic fashion at prospective turning points in price action so as to allow corrective price moves to neutralize open draw down while being offset by realized profits generated through theaforementioned orders. Whenpositions are released, it is necessary to allow price movement to "breath" and illustrate directional bias.
Furthermore, pending orders must be strategically placed at selective points far enough in proximity to important support or resistance levels to ensure any re-entry into the is not made in vain. Therefore, equity will bleed in nominal, successive amounts until the proper, successful corrective point is reached. Under typical market conditions, the average trend-based price movement which would necessitate the employment lasts but 1-3 days and requires no greater than 1-3 releases prior to successfully identifying the correct turning point necessary to remove clients from trades intact.
We continue to face a global economic climate of unparalleled proportions since the Great Depression and have chosen to participate within the most volatile, risk prevalent market out of all the financials. As such, and when combined with notoriously thin, unfavorable summer market conditions and a unique disconnect of customary inter market behavioral correlation losses uncharacteristic of standard performance within ideal conditions do occur.
Although it will be no consolation to your frustration, it is of paramount importance you understand that we have endured, as a world society and global investors, a first-time global market climate and world economic condition absolutely unmatched in decades. This marks a unique juncture in this Manager’s 3 year record flawless aggressive trading.
Based upon our longstanding, personalized communication with one another, I'm confident you will recognize the fact that I am sincerely regretful of having had clients, including yourself, eliminated from market participation. Your ongoing recognition and understanding of current conditions as well as the unwavering state of my dedication with the sincere best interest of clients at heart is both valued and appreciated.
For these reasons, I must reiterate that I am genuinely apologetic in having to inform you that the entirety of your risk capital was depleted by the Lion Fund Manager.
Should you have any additionalquestions or concerns regarding these very unfortunate market events, please be sure to follow up with me. I will remain readily available and sincerely dedicated to assuring your inquiries are immediately and thoroughly answered.
Sincerely,
Alex
Wonder what should I do next?Anything I should do. Any advice?
#369 minutes ago
Reply
luckyluciano
Recruit
- Messages
- 3
Oh my god...I can´t believe these guys are still stealing money from investors! Check out this email sent LAST YEAR as an "apologyze" for having depleted my account in 3 days. It´s almost a copy paste of the text they sent you:
Fortress Fund <tradingdesk@fortressfxfund.com>
12/23/15
to me
Hi Luis,
Thank you for following up in provision of the opportunity to further assist you with respect to your important questions and concerns.
I sincerely appreciate your patience and professional courtesy in awaiting a comprehensive response to your important concerns. That being said, and when considering the current issue at hand, it will be necessary to recognize, acknowledge, and understand the fact that we are participating within the most risk-abundant, highly volatile financial market in existence during a time in which we are currently enduring a global economic Depression and underlying climate of unprecedented nature on a worldwide scale since the Great Depression.
As such, we have recently experienced inevitably difficult market conditions, based on unprecedented interest rate changes for the first time since 2008. This has transpired on a magnified scale, which has catalyzed unfavorable results uncharacteristic of the achievements the Fortress Fund Trade Managers contracted to oversee the program, as well as all global asset managers, have experienced within a customary economic climate during ideal market conditions. Within such an atypical world environment, unorthodox losses oftentimes result in ultra-aggressive, overly speculative novelty programs such as Fortress Fund.
This unfortunate development has combined with your account having experienced severely inopportune market-entry timing in proximity to the initiation of this recent unfavorable market state.
On that note, I find it very important I address your important concern in comprehensive fashion. The Fortress Fund Manager was utilizing a very sophisticated, methodical employment of positional hedging within client accounts so as to effectively mitigate what otherwise would have been an instantly catastrophic, adverse price movement across all major currency pairs. When hedges are in place, equity remains intact.
Of course, it is a physical impossibility to successfully accomplish negative trade eradication without the necessary periodic release of said hedge positions in strategic fashion at prospective turning points in price action so as to allow corrective price moves to neutralize open draw down while being offset by realized profits generated through the aforementioned hedge orders. When hedges are released, it is necessary to allow price movement to "breath" and illustrate directional bias.
Furthermore, pending re-hedge orders must be strategically placed at selective points far enough in proximity to important support or resistance levels to ensure any re-entry into the hedge is not made in vain. Therefore, equity will bleed in nominal, successive amounts until the proper, successful corrective point is reached. Under typical market conditions, the average trend-based price movement which would necessitate the employment of positional hedging lasts but 1-3 days and requires no greater than 1-3 hedge releases prior to successfully identifying the correct turning point necessary to remove clients from trades intact.
Unfortunately, we have been faced with an astoundingly resilient multi-day directional trend based price movement of unparalleled nature resulting from these FOMC announcements. Your account did not sustain the necessarily successive (and extensive within these circumstances) release attempts and equity "bleeds".
We continue to face a global economic climate of unparalleled proportions since the Great Depression and have chosen to participate within the most volatile, risk prevalent market out of all the financials. As such, and when combined with notoriously thin, unfavorable summer market conditions and a unique disconnect of customary inter market behavioral correlation losses uncharacteristic of standard performance within ideal conditions do occur.
Although it will be no consolation to your frustration, it is of paramount importance you understand that we have endured, as a world society and global investors, a first-time global market climate and world economic condition absolutely unmatched in decades. This marks a unique juncture in this Manager’s 3 year record flawless aggressive trading.
Based upon our longstanding, personalized communication with one another, I'm confident you will recognize the fact that I am sincerely regretful of having had clients, including yourself, eliminated from market participation. Your ongoing recognition and understanding of current conditions as well as the unwavering state of my dedication with the sincere best interest of clients at heart is both valued and appreciated.
For these reasons, I must reiterate that I am genuinely apologetic in having to inform you that the majority of your risk capital was depleted by the Fortress Fund Manager.
Fortunately, the broker's Negative Balance Protection saved your account from total depletion and automatically stopped-out the trading at 90%.
Should you have any additional questions or concerns regarding these very unfortunate market events, please be sure to follow up with me. I will remain readily available and sincerely dedicated to assuring your inquiries are immediately and thoroughly answered.
Sincerely,
Ethan"
Come on, when is some regulator going to crack down this shady firm??????
Fortress Fund <tradingdesk@fortressfxfund.com>
12/23/15
to me
Hi Luis,
Thank you for following up in provision of the opportunity to further assist you with respect to your important questions and concerns.
I sincerely appreciate your patience and professional courtesy in awaiting a comprehensive response to your important concerns. That being said, and when considering the current issue at hand, it will be necessary to recognize, acknowledge, and understand the fact that we are participating within the most risk-abundant, highly volatile financial market in existence during a time in which we are currently enduring a global economic Depression and underlying climate of unprecedented nature on a worldwide scale since the Great Depression.
As such, we have recently experienced inevitably difficult market conditions, based on unprecedented interest rate changes for the first time since 2008. This has transpired on a magnified scale, which has catalyzed unfavorable results uncharacteristic of the achievements the Fortress Fund Trade Managers contracted to oversee the program, as well as all global asset managers, have experienced within a customary economic climate during ideal market conditions. Within such an atypical world environment, unorthodox losses oftentimes result in ultra-aggressive, overly speculative novelty programs such as Fortress Fund.
This unfortunate development has combined with your account having experienced severely inopportune market-entry timing in proximity to the initiation of this recent unfavorable market state.
On that note, I find it very important I address your important concern in comprehensive fashion. The Fortress Fund Manager was utilizing a very sophisticated, methodical employment of positional hedging within client accounts so as to effectively mitigate what otherwise would have been an instantly catastrophic, adverse price movement across all major currency pairs. When hedges are in place, equity remains intact.
Of course, it is a physical impossibility to successfully accomplish negative trade eradication without the necessary periodic release of said hedge positions in strategic fashion at prospective turning points in price action so as to allow corrective price moves to neutralize open draw down while being offset by realized profits generated through the aforementioned hedge orders. When hedges are released, it is necessary to allow price movement to "breath" and illustrate directional bias.
Furthermore, pending re-hedge orders must be strategically placed at selective points far enough in proximity to important support or resistance levels to ensure any re-entry into the hedge is not made in vain. Therefore, equity will bleed in nominal, successive amounts until the proper, successful corrective point is reached. Under typical market conditions, the average trend-based price movement which would necessitate the employment of positional hedging lasts but 1-3 days and requires no greater than 1-3 hedge releases prior to successfully identifying the correct turning point necessary to remove clients from trades intact.
Unfortunately, we have been faced with an astoundingly resilient multi-day directional trend based price movement of unparalleled nature resulting from these FOMC announcements. Your account did not sustain the necessarily successive (and extensive within these circumstances) release attempts and equity "bleeds".
We continue to face a global economic climate of unparalleled proportions since the Great Depression and have chosen to participate within the most volatile, risk prevalent market out of all the financials. As such, and when combined with notoriously thin, unfavorable summer market conditions and a unique disconnect of customary inter market behavioral correlation losses uncharacteristic of standard performance within ideal conditions do occur.
Although it will be no consolation to your frustration, it is of paramount importance you understand that we have endured, as a world society and global investors, a first-time global market climate and world economic condition absolutely unmatched in decades. This marks a unique juncture in this Manager’s 3 year record flawless aggressive trading.
Based upon our longstanding, personalized communication with one another, I'm confident you will recognize the fact that I am sincerely regretful of having had clients, including yourself, eliminated from market participation. Your ongoing recognition and understanding of current conditions as well as the unwavering state of my dedication with the sincere best interest of clients at heart is both valued and appreciated.
For these reasons, I must reiterate that I am genuinely apologetic in having to inform you that the majority of your risk capital was depleted by the Fortress Fund Manager.
Fortunately, the broker's Negative Balance Protection saved your account from total depletion and automatically stopped-out the trading at 90%.
Should you have any additional questions or concerns regarding these very unfortunate market events, please be sure to follow up with me. I will remain readily available and sincerely dedicated to assuring your inquiries are immediately and thoroughly answered.
Sincerely,
Ethan"
Come on, when is some regulator going to crack down this shady firm??????
Last edited by a moderator:
Arsus Kickus
Private, 1st Class
- Messages
- 31
Unfortunately, the broker is NOT regulated in any jurisdiction, regardless of what their copy says ... there is enough anecdotal evidence to show that Knight and Fortress/Lion are interrelated, and many of us have been burned. Token amounts have been returned to placate a handful of people (shame on you FPA for even framing these activities in a neutral to positive light!), but that is it. Together we have lost many thousands of dollars in dodgy dealings with them. These experiences should be enough for everyone to stay clear of them.
Arsus Kickus
Private, 1st Class
- Messages
- 31
Bloody hell I HATE not being able to edit my posts (GRRRRRRR) ... this was supposed to be attached to the previous post ...
Arsus Kickus
Private, 1st Class
- Messages
- 31
They are NOT registered with ANY authorities, except as an International Business Company (IBC). There is NO transparency to their operation. I spent months researching them, even sending a friend in Finland to visit their supposedly registered address. No office existed (it was a managed office location of many corporations), and I checked with the Finish regulators and there is no record of their tax ID (which is required to do business in Finland). When I find the people behind this, and I will, I promise you that I will break their legs ...
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