ProFXI.com Review
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Out of business
3.429 •
29 REVIEWS
Recent User Reviews of ProFXI.com
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Nashville Post
USA,
Dec 22, 2009,
Guest
http://www.nashvillepost.com/news/2009/12/7/soldier_of_forex
Soldier of Forex
Francisco Arias ran a $1.2 billion trading fund between special-ops missions. Or not.
By E. Thomas Wood
12-07-2009 12:06 AM -
He's nowhere to be found at the moment, so maybe Francisco R. Arias Jr. has gone behind enemy lines. But the 22 investors from across the United States who filed suit against Arias in Nashville late last month probably have other ideas about why he seems to be lying low.
Arias, who moved to Nashville from Florida earlier this decade, is at the center of numerous legal claims and counterclaims over his activities as a supposedly high-flying foreign currency exchange (or "forex") trader. The three related lawsuits filed against him Nov. 24 in Davidson County Circuit Court are the latest volleys in the legal battle. The investors seek $10.9 million in punitive damages for what they term "promissory fraud" by Arias.
In another case involving Arias, his father-in-law has said Arias duped him into serving as the "face" of the investment operation. You see, Arias "was in special operations with the United States Military and must keep his identity hidden," he is said to have told father-in-law Gary Doney Sr. of Lebanon. Arias even gave Doney the authority to sign documents on his behalf "in the event that something happened to him on one of his alleged military excursions."
Eventually, Doney said, it became clear that Arias "is not presently, nor has he ever been, a member of any branch of the United States armed forces."
But he did file for bankruptcy in 2007 and in May of this year, U.S. Bankruptcy Court Judge George C. Paine II issued an order finding fraud" that prevents him from discharging his debts to various investors through the bankruptcy process.
For a time, Arias had Doney and plenty of other people convinced that he was not only an international man of mystery but also a genius at making money in the notoriously volatile forex markets.
The plaintiffs in the latest lawsuits say Arias talked them into making one-year loans that offered a guaranteed interest rate of 30 percent. Doney signed promissory notes to the investors, who believed the returns would be derived from currency trading by Arias. They say he showed them false financial statements indicating that his trading company, Adieus Corp., had a net worth of hundreds of millions of dollars.
Doney, for his part, says Arias showed him "a computer screen that evidenced trading in the account reaching a value of as much as $1.2 Billion and resulting profits of as much as $180 Million." The figures were fake, he claims. But Doney would have been in a position to know one number for real: He said the total amount Arias took in from investors came to as much as $3.4 million.
The new lawsuits say Arias put out promotional materials asserting that he had a 90 percent success rate in his trades, achieved by using a proprietary software system that "minimized or eliminated investment risk."
Some of the plaintiffs say that while Arias was investing their forex funds, he also sold them equity in a new wealth management company, Reynier Holdings. He promised it would go public and make its owners wealthy.
Franklin resident Rick Mattos was one such buyer. Besides investment losses of $176,000, his lawsuit says he is out $60,000 on the equity investment.
Enticed by the high returns they believed they could obtain via Arias, some of the plaintiffs went to exceptional lengths to come up with money to invest. John and Natalia Yosco of Franklin took out a $150,000 second mortgage to fund their purchase of Reynier equity; they were eventually forced to sell the home, their lawsuit says.
Two Florida investors cashed in Individual Retirement Account funds to invest in Adieus. Each lost almost all the money invested while also incurring substantial IRA withdrawal penalties and fees, according to one of the complaints.
Nashville attorney Kevin S. Key is representing the plaintiffs in the three new lawsuits. He declined to comment on them when reached last week.
Two Nashville-area telephone listings for Arias were out of service last week. Filings in Davidson County General Sessions Court indicate he was evicted from a home on Country Wood Circle in Donelson last September.
Soldier of Forex
Francisco Arias ran a $1.2 billion trading fund between special-ops missions. Or not.
By E. Thomas Wood
12-07-2009 12:06 AM -
He's nowhere to be found at the moment, so maybe Francisco R. Arias Jr. has gone behind enemy lines. But the 22 investors from across the United States who filed suit against Arias in Nashville late last month probably have other ideas about why he seems to be lying low.
Arias, who moved to Nashville from Florida earlier this decade, is at the center of numerous legal claims and counterclaims over his activities as a supposedly high-flying foreign currency exchange (or "forex") trader. The three related lawsuits filed against him Nov. 24 in Davidson County Circuit Court are the latest volleys in the legal battle. The investors seek $10.9 million in punitive damages for what they term "promissory fraud" by Arias.
In another case involving Arias, his father-in-law has said Arias duped him into serving as the "face" of the investment operation. You see, Arias "was in special operations with the United States Military and must keep his identity hidden," he is said to have told father-in-law Gary Doney Sr. of Lebanon. Arias even gave Doney the authority to sign documents on his behalf "in the event that something happened to him on one of his alleged military excursions."
Eventually, Doney said, it became clear that Arias "is not presently, nor has he ever been, a member of any branch of the United States armed forces."
But he did file for bankruptcy in 2007 and in May of this year, U.S. Bankruptcy Court Judge George C. Paine II issued an order finding fraud" that prevents him from discharging his debts to various investors through the bankruptcy process.
For a time, Arias had Doney and plenty of other people convinced that he was not only an international man of mystery but also a genius at making money in the notoriously volatile forex markets.
The plaintiffs in the latest lawsuits say Arias talked them into making one-year loans that offered a guaranteed interest rate of 30 percent. Doney signed promissory notes to the investors, who believed the returns would be derived from currency trading by Arias. They say he showed them false financial statements indicating that his trading company, Adieus Corp., had a net worth of hundreds of millions of dollars.
Doney, for his part, says Arias showed him "a computer screen that evidenced trading in the account reaching a value of as much as $1.2 Billion and resulting profits of as much as $180 Million." The figures were fake, he claims. But Doney would have been in a position to know one number for real: He said the total amount Arias took in from investors came to as much as $3.4 million.
The new lawsuits say Arias put out promotional materials asserting that he had a 90 percent success rate in his trades, achieved by using a proprietary software system that "minimized or eliminated investment risk."
Some of the plaintiffs say that while Arias was investing their forex funds, he also sold them equity in a new wealth management company, Reynier Holdings. He promised it would go public and make its owners wealthy.
Franklin resident Rick Mattos was one such buyer. Besides investment losses of $176,000, his lawsuit says he is out $60,000 on the equity investment.
Enticed by the high returns they believed they could obtain via Arias, some of the plaintiffs went to exceptional lengths to come up with money to invest. John and Natalia Yosco of Franklin took out a $150,000 second mortgage to fund their purchase of Reynier equity; they were eventually forced to sell the home, their lawsuit says.
Two Florida investors cashed in Individual Retirement Account funds to invest in Adieus. Each lost almost all the money invested while also incurring substantial IRA withdrawal penalties and fees, according to one of the complaints.
Nashville attorney Kevin S. Key is representing the plaintiffs in the three new lawsuits. He declined to comment on them when reached last week.
Two Nashville-area telephone listings for Arias were out of service last week. Filings in Davidson County General Sessions Court indicate he was evicted from a home on Country Wood Circle in Donelson last September.
M
Mikey
FL,
Jan 16, 2009,
Guest
According to Mod, cisco was the owner of profxi and fxinsights.
1) How can the owner be fired?
...
Mod said that he owns everything to cisco and that cisco is the trading god.
2) How can cisco's people talk bad things about cisco?
...
The company filed for bunkrupcy.
3) How can they manage thousands of dollars in their accounts?
Using demos?
If they are the trading gods they say...
4) How come they use retailers account like FXCM, interbankfx? They should have direct access to the FX market but they don't...
Get answers to this questions and get the facts...
1) How can the owner be fired?
...
Mod said that he owns everything to cisco and that cisco is the trading god.
2) How can cisco's people talk bad things about cisco?
...
The company filed for bunkrupcy.
3) How can they manage thousands of dollars in their accounts?
Using demos?
If they are the trading gods they say...
4) How come they use retailers account like FXCM, interbankfx? They should have direct access to the FX market but they don't...
Get answers to this questions and get the facts...
M
Mac88
Canada,
Dec 20, 2008,
Guest
Hi,
Just a comment on their unethical behavior in the past ( I'm not reviewing their trading performance)
First i would like to say something about fxinsight the site shutdown without any notice or update, just complete stupid act behaving like a naive. How many traders had hope and believe in them a lot of them and these trading gurus the God's of EUR/USD just vanished it's like lets pack and go. Why this company thinks they are the people who will make us follow them being so rude. We are not your Puppets, talking of Integrity, Professionalism, Code of Ethics.
They never apologized for it, never discussed the situation with traders it seems to be ok for them to conduct such an arrogant behavior to their Customers.
Just a comment on their unethical behavior in the past ( I'm not reviewing their trading performance)
First i would like to say something about fxinsight the site shutdown without any notice or update, just complete stupid act behaving like a naive. How many traders had hope and believe in them a lot of them and these trading gurus the God's of EUR/USD just vanished it's like lets pack and go. Why this company thinks they are the people who will make us follow them being so rude. We are not your Puppets, talking of Integrity, Professionalism, Code of Ethics.
They never apologized for it, never discussed the situation with traders it seems to be ok for them to conduct such an arrogant behavior to their Customers.
P
Pipjunkie
SoCal, USA,
Dec 18, 2008,
Guest
I recently rejoined this service after a 3 month hiatus. I lost alot of money with the Cisco ProFXI but that was then and now that Mod is running the show things are much better.
First off I want to comment on how much more professional it is operated. The results are updated quickly and there are no more phantom accts that are shown to subscribers. The chat room is now alot friendlier and more inviting. The old room was tense and people did not like to ask questions. The pips are consistent to say the least, without the huge drawdowns of the past. The daily updates are in-depth and give us traders an insight into what Mod is thinking and seeing in the markets. The money back guarantee is nice too.
Overall a marked improvement and I hope things continue in this direction. Good work Mod and all that got ProFXI to where it is today.
2008-07-19 5 Stars I have been with ProFXI since it's inception. It is a remarkably profitable service. This is not like most other "signal" services in that not all trades are the same. Some are very high risk, some such as trade team calls have a 90% profit rate. Not all trades are sent via SMS/email, only trade team calls. This is NOT a place for beginners to learn the ropes. You will only aggravate the entire room and the trade team with newbie questions. Some trades will go into extreme DD. I have had one trade go down by 450 pips. It ended up being profitable. I am extremely happy with this service. It is very profitable but it is not for everyone. I would not recommend this site unless you are an experienced trader. Newbies will not like this site. Money Management is KEY. .5% entries are recommended. Cisco did get MC'd but as stated has made back nearly all of what was lost. I have no regrets.
First off I want to comment on how much more professional it is operated. The results are updated quickly and there are no more phantom accts that are shown to subscribers. The chat room is now alot friendlier and more inviting. The old room was tense and people did not like to ask questions. The pips are consistent to say the least, without the huge drawdowns of the past. The daily updates are in-depth and give us traders an insight into what Mod is thinking and seeing in the markets. The money back guarantee is nice too.
Overall a marked improvement and I hope things continue in this direction. Good work Mod and all that got ProFXI to where it is today.
2008-07-19 5 Stars I have been with ProFXI since it's inception. It is a remarkably profitable service. This is not like most other "signal" services in that not all trades are the same. Some are very high risk, some such as trade team calls have a 90% profit rate. Not all trades are sent via SMS/email, only trade team calls. This is NOT a place for beginners to learn the ropes. You will only aggravate the entire room and the trade team with newbie questions. Some trades will go into extreme DD. I have had one trade go down by 450 pips. It ended up being profitable. I am extremely happy with this service. It is very profitable but it is not for everyone. I would not recommend this site unless you are an experienced trader. Newbies will not like this site. Money Management is KEY. .5% entries are recommended. Cisco did get MC'd but as stated has made back nearly all of what was lost. I have no regrets.
M
Marc Levigne
Reston Virginia,
Dec 17, 2008,
Guest
I am speechless with Mr Mod (David) he pull a miracle in market today trading E/U. Mr Mod is call +1741 E/U pips thus week !! In market and E/U he sees what we do not see, it can not explain. In history book will Mr Mod be written with Soros. The living legend we are greatful for. God bless Mr Mod long life to Profxi. I give 5 stars to Profxi.
F
FX232
Toronto,
Dec 8, 2008,
Guest
a lot of relevant points of already been made regarding this sight which replaced "FX Insights". there were lots of confusing aspects regarding the trading styles of the "traders" etc. and you generally do receive extremely harsh responses from the "traders" if you ask questions which could bring their strategies into question.
my time in the chat room and reading the forums unfortunately exposed the harsh reality of forex trading. a lot of people who don't have the slightest idea about the markets who invest a tremendous amount of money into an account, looking for a easy way to get rich. unfortunately, life just isn't as easy as that. i give the "traders" at fx insights credit in that they at least did attempt to educate people with some basics about market fundamentals and why markets sometimes react the ways they do. the fx knowledge the traders possess can be obtained by anyone who takes the time to read a few books. all their insights into the market are taken from various books, websites etc. sometimes they'll talk about something "fancy" (i.e. libor) but if you really ask them detailed questions you won't get far.
one thing i always found suspect regarding pro fxi and fx insights is that for traders who apparently are "the best in the industry" and who claim to manage accounts well into the high six figures why would they be using retail forex brokers??? i guess the point i'm trying to make is that if these guys were as good as they claimed to be and managed the amounts of money they claim to they wouldn't be using retail fx platforms for the a variety of reasons (slippage, company reliability, investor protection etc.) they'd have the real fx platforms that REAL forex traders use. i asked that question once in the chat and got booted out. but you have to wonder...
at the end of the day, they are another fx signal company trying to make profits from the average joe. there's nothing wrong with that, far too much blame gets put on the providers of these services when the blame should sometimes (not always) be put on the people that pay for them, the biggest problem with retail fx trading is the majority of people thinking this will be the magic way you'll become a millionaire and quit your job to trade from home.
i will disclaim my post by saying that I do not pay for the pro FXI service and never will. But what've I've seen off the website and the comments read here the site is basically the same as the free FX Insights sight which mysteriously disappeared except your paying for it. I found the old FX Insights more intriguing than helpful, you were seeing thousands of people signing up, visiting trading seminars, following blindly the advice of market experts. it was a fascinating insight to how desperate so many people are to be successful in fx trading.
my time in the chat room and reading the forums unfortunately exposed the harsh reality of forex trading. a lot of people who don't have the slightest idea about the markets who invest a tremendous amount of money into an account, looking for a easy way to get rich. unfortunately, life just isn't as easy as that. i give the "traders" at fx insights credit in that they at least did attempt to educate people with some basics about market fundamentals and why markets sometimes react the ways they do. the fx knowledge the traders possess can be obtained by anyone who takes the time to read a few books. all their insights into the market are taken from various books, websites etc. sometimes they'll talk about something "fancy" (i.e. libor) but if you really ask them detailed questions you won't get far.
one thing i always found suspect regarding pro fxi and fx insights is that for traders who apparently are "the best in the industry" and who claim to manage accounts well into the high six figures why would they be using retail forex brokers??? i guess the point i'm trying to make is that if these guys were as good as they claimed to be and managed the amounts of money they claim to they wouldn't be using retail fx platforms for the a variety of reasons (slippage, company reliability, investor protection etc.) they'd have the real fx platforms that REAL forex traders use. i asked that question once in the chat and got booted out. but you have to wonder...
at the end of the day, they are another fx signal company trying to make profits from the average joe. there's nothing wrong with that, far too much blame gets put on the providers of these services when the blame should sometimes (not always) be put on the people that pay for them, the biggest problem with retail fx trading is the majority of people thinking this will be the magic way you'll become a millionaire and quit your job to trade from home.
i will disclaim my post by saying that I do not pay for the pro FXI service and never will. But what've I've seen off the website and the comments read here the site is basically the same as the free FX Insights sight which mysteriously disappeared except your paying for it. I found the old FX Insights more intriguing than helpful, you were seeing thousands of people signing up, visiting trading seminars, following blindly the advice of market experts. it was a fascinating insight to how desperate so many people are to be successful in fx trading.
A
Alf
Philippines,
Dec 6, 2008,
Guest
Hi,
I have been a member of Profxi since this site started its beta-testing in late April and I have no plan of cancelling my membership.
I was also a member of Fxinsights.com from November 2007 until the site went down recently. I have heard that this site was discontinued since it was owned by Cisco and operated by Mod. When Cisco left Profxi he also apparently closed down the FXI site.
My main reason for being a member of these sites was to learn more how to trade Forex. Secondary reason was to make money, of course.
During this time my trading capabilities have greatly improved and I am now making a consistent profit.
I really don't understand those who complain about losses in forex. The warnings are all over the sites, and at FXI it was even stated: "Don't trade forex. Trading forex is crazy"
During my time as a member on these sites neither Cisco, Mod nor anyone else came into my office and pushed the buttons on my PC keyboard. I did!
People who lose money and want to blame others for their losses should quit trading forex immediately in my opinion. It is NOT for people who cannot control and detach their emotions from the process of trading. I don't know of any serious trader who has not taken his/her losses at times.
It has been a long time since I abandoned the idea that someone else was going to make money for me! In my experience that is never going to happen. I have to make my own money and I am doing this right now in forex trading.
I am a member of various forex forums and I take them all for what they are worth: A source of information and advice that could help me to improve my trading skills.
By rating these forums I have to give the "new" Profxi the highest rating possible.
I have learned a lot from the traders on this site
I have been a member of Profxi since this site started its beta-testing in late April and I have no plan of cancelling my membership.
I was also a member of Fxinsights.com from November 2007 until the site went down recently. I have heard that this site was discontinued since it was owned by Cisco and operated by Mod. When Cisco left Profxi he also apparently closed down the FXI site.
My main reason for being a member of these sites was to learn more how to trade Forex. Secondary reason was to make money, of course.
During this time my trading capabilities have greatly improved and I am now making a consistent profit.
I really don't understand those who complain about losses in forex. The warnings are all over the sites, and at FXI it was even stated: "Don't trade forex. Trading forex is crazy"
During my time as a member on these sites neither Cisco, Mod nor anyone else came into my office and pushed the buttons on my PC keyboard. I did!
People who lose money and want to blame others for their losses should quit trading forex immediately in my opinion. It is NOT for people who cannot control and detach their emotions from the process of trading. I don't know of any serious trader who has not taken his/her losses at times.
It has been a long time since I abandoned the idea that someone else was going to make money for me! In my experience that is never going to happen. I have to make my own money and I am doing this right now in forex trading.
I am a member of various forex forums and I take them all for what they are worth: A source of information and advice that could help me to improve my trading skills.
By rating these forums I have to give the "new" Profxi the highest rating possible.
I have learned a lot from the traders on this site
W
William
FLORIDA,
Dec 6, 2008,
Guest
I was a member of the free site FXInsights for a long time before the ProFXI site launched. I learned alot from this site from mod and the other members. I joined ProFXI when it started and at first things were going well, then as you have read in the other reviews, it all started going downhill with Cisco's calls and massive Drawdown. After losing a majority of my account, I cancelled my membership. After recieving and email explaining that Cisco had be let go and Mod was promoted to head trader, I was inclined to rejoin the site on Nov 25th. I'M GLAD I DID!!! I have already banked over 200 pips in less than 10 days! And that was only about half of what I could have made had I traded all the calls that were made. Mod is a highly talented trader. He is very knowledgeable when it comes to the EUR/USD pair! I would trust anything he said about that pair. He stays on top of the market 24/7....... I dont even know when he sleeps! In any case, if you were a former member or looking to become a member, I highly recommend joining ProFXI...... You will be glad you did!!!
Fireslayer2618
Proud ProFXI Member
Fireslayer2618
Proud ProFXI Member
B
Beth
SoCal,
Dec 5, 2008,
Guest
Dale says:
N
North49canuck
Calgary Alberta Canada,
Dec 4, 2008,
Guest
Well, what an experience it's been. First and foremost I must say that up until I joined FXInsights and ProFXI I was a trader that was consistently losing in this market. Than I heard about a group that was just starting out (FXInsights) that provided a free EUR/USD signal so I decided to check them out. I joined the group and started testing their signal. To my surprise 10 out of 10 winning trades some with some drawdown but not to bad. I than started trading with real money and became a consistent winner. I had to get used to the drawdown but with their guidance they showed me how to use this DD with proper money management to make even more pips from where the signal was triggered. I couldn't believe it, from consistently losing trades to almost 95% winning. I would have been 100% if I didn't lose my nerve on a couple of trades, but I was using proper money management so I was OK.
I went to one of their free seminars (2nd one) to learn more about their trading techniques and believe me I learned allot and it was free. Just had to pay to get there and hotel and food.
I than joined their paid site ProFXI. It was profitable for me in the beginning, but to be honest I had allot of trouble following Cisco's (than head trader) trading style. But the point is I was profitable and making far more $ than the $200/mo. fee they were charging.
Than, things went wrong. Extreme drawdown and consistently losing trades due to the seemingly haphazard way Cisco seemed to trade. He didn't like to answer any questions without a bit of a temper tantrum. So I stopped trading just to watch and see if things would turn around. Just as I was about to pull the plug and leave this group Cisco was fired and Mod was put in as head trader. This was the guy I learned the most from since the beginning because he took the time to teach his trading techniques and explains things in a way that
I went to one of their free seminars (2nd one) to learn more about their trading techniques and believe me I learned allot and it was free. Just had to pay to get there and hotel and food.
I than joined their paid site ProFXI. It was profitable for me in the beginning, but to be honest I had allot of trouble following Cisco's (than head trader) trading style. But the point is I was profitable and making far more $ than the $200/mo. fee they were charging.
Than, things went wrong. Extreme drawdown and consistently losing trades due to the seemingly haphazard way Cisco seemed to trade. He didn't like to answer any questions without a bit of a temper tantrum. So I stopped trading just to watch and see if things would turn around. Just as I was about to pull the plug and leave this group Cisco was fired and Mod was put in as head trader. This was the guy I learned the most from since the beginning because he took the time to teach his trading techniques and explains things in a way that