Forex Peace Army Members Forums>

[ian s]

I was approached by Atwood & james of New york/Rio de janeiro about forex trading. The broker went carefully through the process of options trading, and after a bit of due dilligence I took their advised trade of 3 calls and 2 puts. This hit its strike price and turned a 7000 dollar investment into 9000 dollars, which they duly sent me. Then they assured me that they had an absolute certainty of a trade where only puts were required. The strike price was never reached and the trades expired virtually worthless, turning a 14,000 dollar investment into 125 dollars!! When I rang to ask what had gone wrong I was told that the strategist (Joel Firestone) has made a bad mistake and had been sacked. Yet he apparently still works for A&J. They have since lost another trade for me, turning a 1,400 dollar trade into just 25 dollars.

I would offer a word of warning to anyone thinking to invest with A&J: beware! they are very nice people to talk to, but they are just not very good at what they do, and their advice on so-called "absolute cert" trades is not worth listening to.

I don't think this was a scam - but then I may be being vary naive here. Has anyone else had a similar experience???

[Pharaoh]

According to the CFTC, Atwood & James is a complete fraud. It looks like no real trading ever took place. They would pretend to make some money to build confidence, then would inevitably pretend to lose ALL the money on one trade.

Another Company the FPA is Investigating Faces Fraud Charges