Problem Apiary Investment Fund - Too good to be true??

[BigT1]

Nate contacted me again today and confirmed he is in the process of arranging access for me to begin evaluating the Apiary system, within 24 hrs.
I urged him to come forward now, make a personal introduction here where he shall be well received, and begin to tackle the questions that have been raised in the past.
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Please stay tuned and give them a chance to show their metal.
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AI

 

[BigT1]

So, my refund request due to their contractual failure is unfulfilled. Just another in a series of disappointments from apiary. They have not provided coaching, they have not assisted me in my style of trading and they have not provided me a funded account to my satisfaction. I'm dissatisfied on all three accounts. They continue to be in denial of their failure to meet commitments. I can no longer pay technology fees after a year with no promised assistance from them. CFTC filing will likely be fruitless as well.

Hello buzzsaw,
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I am confused as to why you expected Apiary to coach you to trade your own style, when the clearly communicated message they present states they will train you in their methods from the ground up? Am I missing something?
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Additionally, can you see you way clear to post your MT4 Detailed Statement for your demo account during the membership period?
Apiary states that if you had more wins than losses, your ratio of $win/$loss was greater than 1.5:1, you held your position size to risk less than 2% of your account on any one trade, and did not have negative outliers, you will become a candidate for the real money account management program funded entirely by them.
Can you demonstrate that you met those criteria, yet were denied?
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As you have read previously, I am embarking on an independent evaluation of this product that will span several months.
Today I received full access to the system from Nate as promised recently, when they reached out to me to do a fair analysis.
If you prefer to communicate privately, just send me a private message.
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Nate has told me that he is drafting a proper response to the issues raised on this forum, and will be introducing himself here personally, soon.
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Stay tuned.
Anthony Ingrassia, CTA
NFA ID#: 0278164

 

[Pharaoh]

Buzzsaw, there is only 1 way to be sure that a complaint to the CFTC will never go anywhere. That's not to file one. If you feel that Apiary truly deceived you, then you need to report this to the CFTC and SEC.

Are you saying they failed to coach you and assist you at all or that they failed to coach and assist you with your own trading style? These are two very different things.

 

[BigT1]

Buzzsaw, there is only 1 way to be sure that a complaint to the CFTC will never go anywhere. That's not to file one. If you feel that Apiary truly deceived you, then you need to report this to the CFTC and SEC.
Are you saying they failed to coach you and assist you at all or that they failed to coach and assist you with your own trading style? These are two very different things.

Pharaoh,
This firm is attempting to develop a novel "Distributed Computing Model", something quite different from what is considered standard in the industry.
Apiary wishes to grow a very wide group of initially small-value traders, each having been pre-screened for a demonstrated high-probability of success emploiyng their predetermined trading methodologies in demo trading.
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In order to generate a successful and growing real money fund valuation, their model requires each trader contribute to the growth of their fund, once promoted to trade real money for them.
In order to achieve such status, Apiary contracts to fund promising demo traders that have joined, trained, and demonstrated the willingness and capabilty to trade according to those rules they assure you shall work.
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Their payout ratio favors the successful individual trader who can benefit without risk and not the fund, whilst trading the Apiary Fund capital assigned to them.
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In order to qualify to enter their "Proprietery Trader Shop", each trader must first demonstrate their ability to demo trade profitably and in accordance with their trading parameters.
Without evidence to the contrary, I will accept their challenge and subject myself to their unique "training", demo trade for them, and publish my audited results for all to see.
As a CTA with 25 yrs experience, I will be most interested to see if I can actually qualify for a real money Apiary Trading Account; and later perform as an Apiary Fund Manager using their methods.
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Stay tuned.
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AI

 

[Pharaoh]

Fascinating. At least some questions answered.

This still leaves many critical questions unanswered, such as "where does the money to be traded come from?"

 

[BigT1]

Pharaoh,
By selling memberships to prospective traders, they fund their educational site, their training staff, and their on-line trade analysis platform.
When you join them by purchasing their educational series for $1000, you gain access to a library of recorded videos, live trainers, a scheduled online real-time coaching series, along with their online performance analysis software, which makes your results visible to you and them again, in real-time.
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As a member learns and trades a demo account with their independent broker of choice, they produce a forward track record with them that is then published to the Apiary Fund account analysis module, via the Publisher feature of the MT4 platform.
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If successful in the manner previously described, the Apiary Fund then promises to allocate each sucessful trader a minimum $2500 real money Apiary Fund Propietery Trading Account, to be operated by the individual member. This account will be continuously analyzed on a daily basis, grown, removed, or limited, based upon the pre-determined criteria previously described.
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Successful traders that adhere to the Apiary Fund's money management requirements, and who experience a positive win:loss ratio and achieve a positive net$/trade, are sid to have qualified to have additional capital to ne allocated to the account, up to $50K.
As the individaul Apiary Fund Proprietery Trading Account manged by the Trader grows, the trader shall be awarded increased% payout of winnings.
Such payouts start at 60/40 of profits based upon a $2500 initial deposit by Apiary, and top-out at 85/15 in favor of the trader once a $50K input from Apiary has been achieved.
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At no time is the client/trader ever asked to personally fund, nor is he ever responsible for any losses incurrs in the Apiary Fund Real Money Account assigned to him.
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Stay tuned, more to follow.
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AI

 

[Pharaoh]

So all the original trading funds are from tuition for the classes? They'd have been in trouble if 2 of the first 3 students did well, since they'd have only collected $3000, but would be obligated to provide $5k to trade.

I'd like to know how many people they have at each level. They'd need a lot of failed students as well as some very successful ones to raise enough money for multiple $50k accounts.

I'd also like to know if the standards for achieving each level are clearly and exactly laid out.

 

[mtuppers]

just attended, for you to using their money to do trade you have to have following

1. more winning trades then losing trades. (of course)
2. average winning pips must be greater the losing pips.
3. min. 300 trades
4. need to trades more then 90 days

they are saying an hour live trading a week. they show breakout system. and note: the software or script will closed all your open order if loss is more then 5% seems like price just want up.

 

[ExChief]

I'm new here and looking forward to your analysis. I found this forum because I was considering Apiary but wanted to do some due diligence first. It has been extremely difficult to find valid information on trading companies and educational systems. I'm still looking. Retired about 6 months ago and want to learn to trade, and supplement my retirement income a little.

 

[BigT1]

I have logged-in, downloaded their Platform and begun their program just like any other newbie.
Tonight I attended a first live webinar.
Though plagued by a 40 minute delay due to technical issues, their presenter Layne was competent, prepared, and responsive to questions.
He eventually did a good job of intro-ing their modus operandi.
More to follow. Stayed tuned.
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AI