anyone heard of: E-Thorex

[rokro]

Hi everyone!

I am a total newbie so please excuse me if this post will end up having errors in it. I have been in contact with representatives of this company for quite some time now and their results have been excellent and the clients I talked to all satisfied with their services. I am writing this post as a final test to make sure that my money will end up in good hands.
This is a Slovenian company providing managed accounts. Everything seems to be in order, they have been operating for some six years now with steady profits. However some of the things do bother me. In their report of their MMA account there is not a single negative month in 6 years. But I will not go further with explaining things about this company as I do not want to write a whole essay of probably useless stuff. I do however know representatives of this company and its manager personally and would gladly share any additional information that might be helpful for further discussion. Thank you!

https://www.e-thorex.com

 

[Pharaoh]

The e-thorex.com website was registered in 2008. If they've been in business for 6 years, ask what their prior website was.

Bank account application form points to worldwideforstock.com, registered in 2010.

Managed accounts require bank accounts at this worldwideforstock.com website. Managed accounts have a setup fee AND a monthly fee, plus taking a percentage of any profits. There's an "expected yield", but no historical results.

The only regulatory information claims that Worldwide Forstock Financial Group is regulated by various acts. There's NO information about being registered with any regulator.

My advice - walk away from this one. If they pursue you, run away as fast as you can.

 

[rokro]

Thank you for your reply!

They are registered on FSA website, but please do look into it as I can`t tell to which extent they are regulated: FSA Register
I have PMed you their refference code just in case
I have looked into this and contacted one of their representatives and he gave me the following answer:
They have previously worked without a website so that is the reason their website is not available longer. As far as their MMA product goes, all the money goes into a single trading account. All the fees you mentioned are also applied. He has sent me their results for all the past years, I can send them to you via email, if you wish. But my main interest is in their ELF product. If you would be so kind as to look into that one more time, I could also arrange for an investor pass, as I have already seen the trading account, but am not nearly enough educated to make something out of that other than it looks fine. I would also like to mention that they are hedging AUD futures on buy with AUDUSD on sell and making a nice consistent profit, about 30% net per year. Any opinions on this would be much appreciated.

 

[Pharaoh]

Grrr... Every time I try to visit the FSA register, I get "The FSA Register is currently unavailable. Please try again later." Are they only open during certain hours?

Let's see what else I can find. First, e-thorex's security certificate expired Sunday morning. That's not a good thing.

ELF program - you get to pay them 4.9% of your investment for the privilege of letting them play with your money. You also give them 0.49% monthly for the privilege of letting them keep playing with your money. After that, the manager keeps 40% of any profits. BTW - I don't see the magic phrase "high water mark" next to that profit sharing.

Payments are only processed on specified dates (only 3 per year listed) and take 21 days to process.

All the money in one account - that's a pooled investment. Unless you have LIVE access to monitoring it, they could tell you how profitable it is while all the money quietly goes away.

I can send you results of my personal "Pharaoh Pyramid Investments Plan" if you like. Of course, that will just be numbers I wrote in a document. If you can't get results DIRECTLY from a broker, then you have no way to tell if any claimed results are nothing but fiction.

Take your money and run the opposite direction as fast as you can.

 

[okty]

Hi,

I just wanted to give a feedback on this company. I'm a happy customer since October 2007. I must admit that I've invested some funds just because the founder is a friend from childhood. They maybe dont have every single documet proving them legal, but they are making positive monthly yields since 2006. And as their customer I've always recived my payouts on my personal account. Yes, it true that it takes some time, but in 2 months time I've recived the funds.

I think you should give them a try. If I'm not wrong the minimum investment for MMA is 1000€ and that ammount isn't too much of a risk. It shouldn't be.

Kind Regards, Martin from Slovenia

 

[Pharaoh]

And what was their website before 2008?

How does any potential investor know what the real rates of returns are?

How do we know that Octy isn't really an employee of e-thorex/worldwideforstock?

 

[S900]

you need to be really careful of this company, i am trying to write a big article about them, they have screwed around 20 mil euros of clients fund and then moved on to form a new company called luxuris commodities dmcc in dubai, they have managed to run away with 15 mil euros and now are moving back to slovenia with a new name called 4-SG...

ales cebulj is the owner of the company and with only 28 years old managed to make millions ...a yacht, Ferrari , Lamborghini, airplane, villa in palm jumeirah and so on...now one can be smart o understand how a broker can make money while the investors will blead

 

[S900]

It looks like some one hacked my mails and have access to my accounts and have tried to do lot of damage, i have now changed my passwords and trying to do some damage control, i would like to comment on Luxuris Commodities

Luxuris Commodities is purely a money manager company which manages the investors fund in the PAMM structure. The client opens the account with the Broker nominated by Luxuris and transfers the funds to the broker. The fund is in segregated accounts and the client has full access to the trading and its money.

Luxuris charges the clients a performance fee based on high water mark. The clients are free to withdraw their capital at any point of time. The segregated account with the regulated broker means that the client funds is safe and is always held under the client’s name.

Luxuris has no access to these funds and cannot withdraw these funds, the client signs an LPOA authorizing Luxuris to trade these funds on behalf of the clients.

The KYC and other account opening documents are held with the broker, Luxuris acts as an Introducing broker to the Broker and only trades the fund on behalf of the clients

I hope this clears all the doubts and confusions created