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01-08-2009, 09:41 PM
The same thing happened to my friend who paid upfront money for them to trade and get insured.. But to be honest, I told my friend beforehand that this contract is a clever ploy to get investors money so that they can screw client.
They tend to make good trades at first but thats down to luck. And then when they had enough, they will hedge to make it look like they have made good amount of profit on balance.
It is rude for any professional to put the phone down on a client. He only thinks that dollar is king and investors are slaves.
I told my friend why pay 3500usd up front to trade when he could have tried investing this money with a company i invested in for a few years now. That way, he could have seen how his small investment would have done over the months and then could have invested bigger. But sometimes,, friends dont listen to friends.
A word of warning and a lesson for everyone. Do not get greedy. If someone says to you that they can make huge profits, then walk away.
Profits that are realistic, they are the best options to go for. All quality fund management firms typically make around 20% - 60% profit yearly. Someone to say that they will make 300% is crazy and you know full well they will either blow your account or make you this amount with a considerable luck.
You can contact me if you have any concerns. PM me
I have asked my friend to contact his lawyer to find a way of getting his money back
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