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Knight Capital Markets & Fortress Fund (Warning)

  • I want to share with You my thoughts and WARN You about KCM and Fortress Fund and how they handle their clients :
I have invested in Fortress Fund and I opened and deposited funds with Knight Capital Markets broker as directed by Fortress Fund.
I am in FX market for over 8 Years and I had many FX account with many brokers but I really made big mistake opening one with Knight Capital Market (KCM)& Fortress Fund.
I deposited 10000 USD 2 month ago and I was able to withdraw 1000 USD (after 2 weeks which I received within few days ) but after I decided to withdraw more (6000 USD) and I asked KCM to cancel my MAM agreement with Fortress Fund problems started .I applied for withdrawal over 3 weeks ago and still I can not get my withdrawal form accepted and I can not get my MAM agreement cancelled.The facts are below :
1) The MAM agreement which was seen on KCM website when I opened my acc had 11 clauses when now they (KCM and FortressFund) claim I signed 12 clauses MAM agreement which has additional clause which disables client to withdraw funds and cancel MAM agreement when there are opened positions on their acc . This is total lie .
I received 11 clause MAM agreement signed and dated 22 October by Fortres Fund via e-mail which clearly has only 11 clauses and does not limit withdrawals / MAM cancellation. When I sent such info to Fortress Fund they said that 11 clauses signed by FF MAM agreement was only for illustrative purposes :) Can You believe that ? Looks like they can sign and amend any document according to their own will without any consequences . I am 100% sure that I would not agree to any MAM agreement which limits my withdrawals from my individual trading account and which could limit cancellation of such agreement when positions are opened which can only be closed by Fortress Fund. Off course I contacted Fortress fund by e-mail (as I was unable to speak to anybody from trading floor if any such exists in the first place) and asked them to close my 2 small 0.23 lot hedging positions which were opened over 3 weeks ago so I can withdraw my funds but Fortress Fund said :"The open positions will be liquidated at their natural closure points pursuant to the underlying strategy being applied to your account. " . As I can not close / open positions on my acc since MAM agreement is in place I am left for sake of Fortress Fund to close my remaining positions and I have no clue when that can happen (maybe few weeks time or maybe few years to close 2 small hedging positions )
2) When I observed their trading style they opened positions only during night hours 00:00-05:00 am UTC time and sometimes I was able to see trades appear and disappear from mt4 terminal trading history which looked like trade manipulation on KCM side (I would not be surprised if both Fortress and KCM were same people). Although during course of 3 weeks they made like 10 % profit on my account I really doubt those trades were real trades. Additionally KCM EUR/USD prices are away from real market by 2-3 pips. This is impossible if they claim they are true ECN/STP.
3) KCM broker is not regulated. They claim they are Finland based company when in reality their company is registered in Middle Street, Kingstown St. Vincent, West Indies Company Number 22309 IBC 2014 according to their TERMS and CONDITIONS . Do You really want to send and hold Your funds in such offshore ,unregulated company .In my opinion if FF was serious and real they would at least hold clients accounts with reputable , regulated brokerage .
4) Their online customer support is not able to help almost in any matter all they say is that they are mere customer representative and You need to send e-mail to clients@knightcapitalmarkets.com . This is the only e-mail available and You can not obtain any other e-mail to legal department or accounting department.
5) When You call their customer support there is same bloke answering the phone and introducing himself as different persons like : Bernhard, Noah , Jeremy :)
6) When You ask for any kind of facts or if You want to speak to someone from management/accounting there is no one else to talk to .
7) I called Fortress Fund like 15 times now , I was trying to speak to anyone from trading floor/desk but each time nice secretary lady says that unfortunately there is no one to pick up Your call at the moment and I was told to leave my phone number (which I did 15 times) and no one bothered to call me back so far.
8) When You want to make deposit to KCM You need to send fund to Mistral Pay LTD company . When I asked KCM why do they require to send funds to Mistral Pay LTD instead of their own company name "Knight Capital Markets" they said : "Mistral Pay is the beneficiary payment service used on behalf of Knight Capital for purposes of directly aggregating client capital to our liquidity providers and being a true brokerage technically provider and true ECP brokerage." this at first seemed fair to me but when I think about it now it does not look that good ........
9) I really doubt in validity of their FX awards both KCM and Fortress Fund. I contacted both award companies asking about KCM (which do not look much convincing)and I had no reply from them . As discussed before already in this Forum award brokerage name "Knight Capital" is not same as "Knight Capital Markets LTD"

I lost plenty of nerves , time and money investing and trying to get my funds back.So far it does not look that I will recover my funds without taking the company to court.
Please make Your own conclusions before You decide to send or invest funds with KCM and Fortress Fund.
If anyone else has live account with KCM and FF please get in touch with me so we can bring this whole case to justice !!!
I am willing to share my bank acc transfer confirmations and trading history statements if needed.

MARTIN
 
Hi Martin,

It would be great if you could keep everyone up to date with your progress. there are many of us on here that have invested with Fortress Fund and could do with knowing for sure if it a scam or not.
 
Hi Martin,

It would be great if you could keep everyone up to date with your progress. there are many of us on here that have invested with Fortress Fund and could do with knowing for sure if it a scam or not.

If there is more people who invested and have problems withdrawing their funds please step up and write Your issue on the Forum. It will be nice to see how many of us is having problems with withdrawals what KC excuses are and maybe come up with some sort of court action and make future warning for other investors .

Martin
 
Of course, you can write in this forum. Then I suggest that you all be careful if you want to invest. If you can look for bonus pay capital from the forum. Do not let your money is lost, then you can save in the form of gold bullion.
 
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It's not uncommon at all for a broker to mandate the Fund Manager closes positions before you can make withdrawals. Pepperstone and Alpari do this as well.
I would not worry :)
Cheers.
 
It's not uncommon at all for a broker to mandate the Fund Manager closes positions before you can make withdrawals. Pepperstone and Alpari do this as well.
I would not worry :)
Cheers.

And is it common for them to unilaterally alter MAM agreements?
Is it common for trades to appear and dissapear?
ref post 71
 
Hi Martin

I am in the same situation as you are. I deposited the fund and when I request to withdraw some fund they said I cannot due to open positions in my account. I have been monitoring my account the last few days to make sure that remaining two open trades are closed and will request to withdraw the money again. I never receive the MAM agreement when open my account with Knight Capital Markets (KCM). I somehow feel this is another scam and want to warn others to stay away from KCM and Fortress Fund.

There is a similar thread on this forum about KCM and Fortress Fund Knight Capital Markets https://www.forexpeacearmy.com/comm...ht-capital-forex-brokerage.43159/#post-224443

Before I decided to open the account with KCM, I did some research and found KCM and Fortress Fund to be trustworthy. Here are the links I used to make my decision.

newsletters.getresponse.com/archive/forexverified/Fortress-Fund-221372703.html
mainspot.net/fortress-fund-program-review/
binaryoptionsheriff.com/2015/11/20/fortress-fx-fund-for-serious-traders/
badforpeople.org/fortressfxfund-coms-ethan-cooper-helps-reduce-forex-scams-fortress-fx-fund/
forexleaks.info/fortress-fund-review-fortress-fx-fund-is-not-scam/
binaryoptions2016.com/fortress-fund-review/

  • I want to share with You my thoughts and WARN You about KCM and Fortress Fund and how they handle their clients :
I have invested in Fortress Fund and I opened and deposited funds with Knight Capital Markets broker as directed by Fortress Fund.
I am in FX market for over 8 Years and I had many FX account with many brokers but I really made big mistake opening one with Knight Capital Market (KCM)& Fortress Fund.
I deposited 10000 USD 2 month ago and I was able to withdraw 1000 USD (after 2 weeks which I received within few days ) but after I decided to withdraw more (6000 USD) and I asked KCM to cancel my MAM agreement with Fortress Fund problems started .I applied for withdrawal over 3 weeks ago and still I can not get my withdrawal form accepted and I can not get my MAM agreement cancelled.The facts are below :
1) The MAM agreement which was seen on KCM website when I opened my acc had 11 clauses when now they (KCM and FortressFund) claim I signed 12 clauses MAM agreement which has additional clause which disables client to withdraw funds and cancel MAM agreement when there are opened positions on their acc . This is total lie .
I received 11 clause MAM agreement signed and dated 22 October by Fortres Fund via e-mail which clearly has only 11 clauses and does not limit withdrawals / MAM cancellation. When I sent such info to Fortress Fund they said that 11 clauses signed by FF MAM agreement was only for illustrative purposes :) Can You believe that ? Looks like they can sign and amend any document according to their own will without any consequences . I am 100% sure that I would not agree to any MAM agreement which limits my withdrawals from my individual trading account and which could limit cancellation of such agreement when positions are opened which can only be closed by Fortress Fund. Off course I contacted Fortress fund by e-mail (as I was unable to speak to anybody from trading floor if any such exists in the first place) and asked them to close my 2 small 0.23 lot hedging positions which were opened over 3 weeks ago so I can withdraw my funds but Fortress Fund said :"The open positions will be liquidated at their natural closure points pursuant to the underlying strategy being applied to your account. " . As I can not close / open positions on my acc since MAM agreement is in place I am left for sake of Fortress Fund to close my remaining positions and I have no clue when that can happen (maybe few weeks time or maybe few years to close 2 small hedging positions )
2) When I observed their trading style they opened positions only during night hours 00:00-05:00 am UTC time and sometimes I was able to see trades appear and disappear from mt4 terminal trading history which looked like trade manipulation on KCM side (I would not be surprised if both Fortress and KCM were same people). Although during course of 3 weeks they made like 10 % profit on my account I really doubt those trades were real trades. Additionally KCM EUR/USD prices are away from real market by 2-3 pips. This is impossible if they claim they are true ECN/STP.
3) KCM broker is not regulated. They claim they are Finland based company when in reality their company is registered in Middle Street, Kingstown St. Vincent, West Indies Company Number 22309 IBC 2014 according to their TERMS and CONDITIONS . Do You really want to send and hold Your funds in such offshore ,unregulated company .In my opinion if FF was serious and real they would at least hold clients accounts with reputable , regulated brokerage .
4) Their online customer support is not able to help almost in any matter all they say is that they are mere customer representative and You need to send e-mail to clients@knightcapitalmarkets.com . This is the only e-mail available and You can not obtain any other e-mail to legal department or accounting department.
5) When You call their customer support there is same bloke answering the phone and introducing himself as different persons like : Bernhard, Noah , Jeremy :)
6) When You ask for any kind of facts or if You want to speak to someone from management/accounting there is no one else to talk to .
7) I called Fortress Fund like 15 times now , I was trying to speak to anyone from trading floor/desk but each time nice secretary lady says that unfortunately there is no one to pick up Your call at the moment and I was told to leave my phone number (which I did 15 times) and no one bothered to call me back so far.
8) When You want to make deposit to KCM You need to send fund to Mistral Pay LTD company . When I asked KCM why do they require to send funds to Mistral Pay LTD instead of their own company name "Knight Capital Markets" they said : "Mistral Pay is the beneficiary payment service used on behalf of Knight Capital for purposes of directly aggregating client capital to our liquidity providers and being a true brokerage technically provider and true ECP brokerage." this at first seemed fair to me but when I think about it now it does not look that good ........
9) I really doubt in validity of their FX awards both KCM and Fortress Fund. I contacted both award companies asking about KCM (which do not look much convincing)and I had no reply from them . As discussed before already in this Forum award brokerage name "Knight Capital" is not same as "Knight Capital Markets LTD"

I lost plenty of nerves , time and money investing and trying to get my funds back.So far it does not look that I will recover my funds without taking the company to court.
Please make Your own conclusions before You decide to send or invest funds with KCM and Fortress Fund.
If anyone else has live account with KCM and FF please get in touch with me so we can bring this whole case to justice !!!
I am willing to share my bank acc transfer confirmations and trading history statements if needed.

MARTIN
  • I want to share with You my thoughts and WARN You about KCM and Fortress Fund and how they handle their clients :
I have invested in Fortress Fund and I opened and deposited funds with Knight Capital Markets broker as directed by Fortress Fund.
I am in FX market for over 8 Years and I had many FX account with many brokers but I really made big mistake opening one with Knight Capital Market (KCM)& Fortress Fund.
I deposited 10000 USD 2 month ago and I was able to withdraw 1000 USD (after 2 weeks which I received within few days ) but after I decided to withdraw more (6000 USD) and I asked KCM to cancel my MAM agreement with Fortress Fund problems started .I applied for withdrawal over 3 weeks ago and still I can not get my withdrawal form accepted and I can not get my MAM agreement cancelled.The facts are below :
1) The MAM agreement which was seen on KCM website when I opened my acc had 11 clauses when now they (KCM and FortressFund) claim I signed 12 clauses MAM agreement which has additional clause which disables client to withdraw funds and cancel MAM agreement when there are opened positions on their acc . This is total lie .
I received 11 clause MAM agreement signed and dated 22 October by Fortres Fund via e-mail which clearly has only 11 clauses and does not limit withdrawals / MAM cancellation. When I sent such info to Fortress Fund they said that 11 clauses signed by FF MAM agreement was only for illustrative purposes :) Can You believe that ? Looks like they can sign and amend any document according to their own will without any consequences . I am 100% sure that I would not agree to any MAM agreement which limits my withdrawals from my individual trading account and which could limit cancellation of such agreement when positions are opened which can only be closed by Fortress Fund. Off course I contacted Fortress fund by e-mail (as I was unable to speak to anybody from trading floor if any such exists in the first place) and asked them to close my 2 small 0.23 lot hedging positions which were opened over 3 weeks ago so I can withdraw my funds but Fortress Fund said :"The open positions will be liquidated at their natural closure points pursuant to the underlying strategy being applied to your account. " . As I can not close / open positions on my acc since MAM agreement is in place I am left for sake of Fortress Fund to close my remaining positions and I have no clue when that can happen (maybe few weeks time or maybe few years to close 2 small hedging positions )
2) When I observed their trading style they opened positions only during night hours 00:00-05:00 am UTC time and sometimes I was able to see trades appear and disappear from mt4 terminal trading history which looked like trade manipulation on KCM side (I would not be surprised if both Fortress and KCM were same people). Although during course of 3 weeks they made like 10 % profit on my account I really doubt those trades were real trades. Additionally KCM EUR/USD prices are away from real market by 2-3 pips. This is impossible if they claim they are true ECN/STP.
3) KCM broker is not regulated. They claim they are Finland based company when in reality their company is registered in Middle Street, Kingstown St. Vincent, West Indies Company Number 22309 IBC 2014 according to their TERMS and CONDITIONS . Do You really want to send and hold Your funds in such offshore ,unregulated company .In my opinion if FF was serious and real they would at least hold clients accounts with reputable , regulated brokerage .
4) Their online customer support is not able to help almost in any matter all they say is that they are mere customer representative and You need to send e-mail to clients@knightcapitalmarkets.com . This is the only e-mail available and You can not obtain any other e-mail to legal department or accounting department.
5) When You call their customer support there is same bloke answering the phone and introducing himself as different persons like : Bernhard, Noah , Jeremy :)
6) When You ask for any kind of facts or if You want to speak to someone from management/accounting there is no one else to talk to .
7) I called Fortress Fund like 15 times now , I was trying to speak to anyone from trading floor/desk but each time nice secretary lady says that unfortunately there is no one to pick up Your call at the moment and I was told to leave my phone number (which I did 15 times) and no one bothered to call me back so far.
8) When You want to make deposit to KCM You need to send fund to Mistral Pay LTD company . When I asked KCM why do they require to send funds to Mistral Pay LTD instead of their own company name "Knight Capital Markets" they said : "Mistral Pay is the beneficiary payment service used on behalf of Knight Capital for purposes of directly aggregating client capital to our liquidity providers and being a true brokerage technically provider and true ECP brokerage." this at first seemed fair to me but when I think about it now it does not look that good ........
9) I really doubt in validity of their FX awards both KCM and Fortress Fund. I contacted both award companies asking about KCM (which do not look much convincing)and I had no reply from them . As discussed before already in this Forum award brokerage name "Knight Capital" is not same as "Knight Capital Markets LTD"

I lost plenty of nerves , time and money investing and trying to get my funds back.So far it does not look that I will recover my funds without taking the company to court.
Please make Your own conclusions before You decide to send or invest funds with KCM and Fortress Fund.
If anyone else has live account with KCM and FF please get in touch with me so we can bring this whole case to justice !!!
I am willing to share my bank acc transfer confirmations and trading history statements if needed.

MARTIN
 
newsletters.getresponse.com/archive/forexverified/Fortress-Fund-221372703.html
mainspot.net/fortress-fund-program-review/
binaryoptionsheriff.com/2015/11/20/fortress-fx-fund-for-serious-traders/
badforpeople.org/fortressfxfund-coms-ethan-cooper-helps-reduce-forex-scams-fortress-fx-fund/
forexleaks.info/fortress-fund-review-fortress-fx-fund-is-not-scam/
binaryoptions2016.com/fortress-fund-review/

Hi Chu

These are self promoting websites set up in advance of the actual launch, a common tactic to mislead people researching the product.
Idealy you would only use independant sites such as FPA when deciding if to invest.
ForexVerified used to be independant when it was run by Scott Wang, it has since been sold and become a vehicle for programs such as this. When this program is finally exposed I will call on FPA to list ForexVerified as a scam.
 
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