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Another Sure Investment Gone Amuk

Discussion in 'Scam Alerts' started by Scam Investigations Committee, Mar 18, 2009.

  1. Scam Investigations Committee

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    Imoktrade looked like another safe and sure investment. The initial investment was guaranteed. The return ranged from 3.1% per day up to 5.1% per day.

    For the record, the higher the return, the higher the risk. Anything paying 3.1% per day is going to be very risky. Any company offering returns this high and guaranteeing the principal has something seriously wrong. They even claimed that returns would be generated on weekends when markets were closed.

    All of this plus the way the website was structured pointed to one conclusion. Imoktrade is a HYIP. So far, every HYIP that the FPA has investigated has turned out to be a scam.

    FPA member Natzmclean placed some money with them. She got a few small payouts for the first few days, then nothing else. There was no response to her emails, and none when Lt. Gerard tried to help her communicate with Imoktrade.

    Originally, the FPA recommended caution dealing with HYIPS. Later, we recommended extreme caution. Now we would just like to recommend not placing any money with any HYIP ever.

    Someday, we may go back to only recommending extreme caution. This will happen if someone can show us a HYIP with 2 or more years of consistent payouts and legitimate trading records showing how the money is earned. We don't think this will happen.

    In our opinion, Imok has gone amuk. We consider it to be a scam.


    Official scam finding against Imoktrade

    Natzmclean's original complaint against Imoktrade

    Article giving general warnings about HYIPS.
     
    #1 Scam Investigations Committee, Mar 18, 2009
    Last edited: Mar 18, 2009
  2. miskec

    miskec Recruit

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    would you mind if i used this as an article material for my blog at Forex News. i was planning to write about forex scams so this fits perfectly.
     
  3. MasterTech

    MasterTech Recruit

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    Here a Ponzi, there a Ponzi, everywhere a Ponzi Ponzi! Can you say, "Bernie Madoff"?
     
  4. Stewart Mcleod

    Stewart Mcleod Recruit

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    Re Scams

    Hi,
    Regarding the email I received about scam firms who claim to pay 3.1% per day, what about www.investment services ltd.com? This firm gurantees 40-70% pay back plus principle after 15 days!!! This cannot be achievable - has someone dealt with them?
     
  5. adesi godwin

    adesi godwin Recruit

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    smile, your money mgt should be treated with care here as it is too good to be true.g

    :hissyfit:
     
  6. PistolDave

    PistolDave Corporal

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    I agree. There are several "hyip" sites where people are claiming to pay outrageous returns on your investment. Virtually all of them are little ponzi schemes and money games. And you will usually end up losing all the funds you send them. Do your homework first -- or be sorry. :unhappy:
     
  7. AftabKhanYusufzai

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    avoid

    To Stuart McLeod

    I think you should avoid this company since i would not wish you to lose your money. Gaining a few hundred pounds or a thousand is not worth losing your money and becoming the unlucky sucker to be ripped off ...
     
  8. ChrisEccles

    ChrisEccles Private, 1st Class

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    Are we traders REALLY that gullible ?

    I can understand it when FPA point up the lesser breeds of broker
    and market-maker. This service helped me a great deal when choosing
    with whom to work (Eventually went with GFT, who are 100% kosher).
    -
    But, honestly, is anyone who trades FX and has taken the time, effort,
    learning curve, hard knocks and sheer bloody hard work to become
    reasonably proficient at this game going to be so absolutely, 24-carat,
    plain STUPID as to send off their money to a HYIP ?
    -
    Please tell me "NO". :unhappy:

    -
    Chris
     
  9. vincenta

    vincenta Recruit

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    Chris

    That IS the problem! Folk don't want to do the hard work, and at the end of the day not everyone who ventures into trading, with the best training and mentoring in the world will succeed. Not becuase there's something wrong with what they're being taught or even how it's been delivered, but because the student does not really want it.

    Many learners don't realise what it takes to be a profitable trader and if they did, they'd find a good money manager and leave their money with that person. Just mho!
     
  10. SAMMYFX

    SAMMYFX Corporal

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    nice piece!

    Thanks for taking the pains to warn young and even "matured" soldiers.
     

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