Berndale Capital

EdBeg

Private
Messages
10
Anybody have an info on Berndale Capital, In Australia.
They appear to have a lot of the same employees from FXTG.
Stavro D'Armour seems to be involved with them. Ex CEO of FXTG.
Claim to be an old unit of Merrill Lynch.

berndalecapital.com/
 
Last edited by a moderator:

jprize

Recruit
Messages
9
Actually their intentionally deceptive statement on their website says that the defunct Berndale Securities was a division of BOA/ML...and Berndale Capital has no association with BOA/ML.
 

Stavro D'Amore

Former FPA Special Consultant
Messages
547
Hello All,

I'am Stavro D'Amore, you may know me for being at Merrill Lynch, Working at Forex Peace Army or as the previous CEO of Forex TG, I'am now the CEO of Berndale Capital and Berndale Group. I'm happy to clarify the above. Because there seems to be some miss information above that are not clarified which I just read above, so i will give you a quick run down.

Berndale Capital Business Goal is not to be another Forex Broker but to be the leader in FX by providing customer service, Best possible pricing technology, personal relationship mangers to cater with full transparency for your trading requirements with full education arm and General Advisory for the forex space.

1) Yes I was the CEO of Forex TG and resigned in April 2015 and went to Berndale in April 2015 and we went live as a separate company not linked to Forex TG.
2) As natural when a CEO leaves a company, I hand selected quality staff that I wanted and approached them to join me Berndale Capital.
3) Berndale Capital and Berndale Group is 100% Australian owned and all operation's including technology and customer service is located here in Australia.
4) Berndale Capital purchased Forex TG in November 2015 client base only and the licence, NOT there technology as it was not owned by them, and have branded the company as Berndale Group as we are Not associated with Forex TG.
5) We have Berndale Capital the retail side and Berndale Group the wholesale division.
6) We do not claim to be Part of BAML or Merrill Lynch yes we do have staff here that have previously worked in the old Berndale Equity division. and our website clearly says the following: (we have had clearance for this by BAML compliance team so there is no confusion)

"Berndale Securities Limited is Australian subsidiary within the Bank of America Merrill Lynch group. Prior to 2012 Berndale Securities Limited provided third party clearing and settlement services to equity & options exchange market participants and advisory groups in Australia. It served both a retail and institutional client base.

Berndale Capital Securities Pty Ltd was formed in 2012 and is not part of Bank of America Merrill Lynch group. We are a separate brand and business and are not related to the Bank of America Merrill Lynch group.”


I en-devour this clarifies the above, and look forward to New clients who want full transparency trading, cutting edge pricing with excellent fills, we accept all type of traders, and all funds are segregated and regulated by ASIC., in addition We have Same day withdrawal policy and also 24/6 Support, for further information you can visit us directly at www.berndalecapital.com.au


warm regards

Stavro D'Amore
Chief Executive Officer
Berndale Capital Pty Ltd
 

FXken

Recruit
Messages
6
Hello All,

I'am Stavro D'Amore, you may know me for being at Merrill Lynch, Working at Forex Peace Army or as the previous CEO of Forex TG, I'am now the CEO of Berndale Capital and Berndale Group. I'm happy to clarify the above. Because there seems to be some miss information above that are not clarified which I just read above, so i will give you a quick run down.

Berndale Capital Business Goal is not to be another Forex Broker but to be the leader in FX by providing customer service, Best possible pricing technology, personal relationship mangers to cater with full transparency for your trading requirements with full education arm and General Advisory for the forex space.

1) Yes I was the CEO of Forex TG and resigned in April 2015 and went to Berndale in April 2015 and we went live as a separate company not linked to Forex TG.
2) As natural when a CEO leaves a company, I hand selected quality staff that I wanted and approached them to join me Berndale Capital.
3) Berndale Capital and Berndale Group is 100% Australian owned and all operation's including technology and customer service is located here in Australia.
4) Berndale Capital purchased Forex TG in November 2015 client base only and the licence, NOT there technology as it was not owned by them, and have branded the company as Berndale Group as we are Not associated with Forex TG.
5) We have Berndale Capital the retail side and Berndale Group the wholesale division.
6) We do not claim to be Part of BAML or Merrill Lynch yes we do have staff here that have previously worked in the old Berndale Equity division. and our website clearly says the following: (we have had clearance for this by BAML compliance team so there is no confusion)

"Berndale Securities Limited is Australian subsidiary within the Bank of America Merrill Lynch group. Prior to 2012 Berndale Securities Limited provided third party clearing and settlement services to equity & options exchange market participants and advisory groups in Australia. It served both a retail and institutional client base.

Berndale Capital Securities Pty Ltd was formed in 2012 and is not part of Bank of America Merrill Lynch group. We are a separate brand and business and are not related to the Bank of America Merrill Lynch group.”


I en-devour this clarifies the above, and look forward to New clients who want full transparency trading, cutting edge pricing with excellent fills, we accept all type of traders, and all funds are segregated and regulated by ASIC., in addition We have Same day withdrawal policy and also 24/6 Support, for further information you can visit us directly at www.berndalecapital.com.au


warm regards

Stavro D'Amore
Chief Executive Officer
Berndale Capital Pty Ltd

Hello Stavro, The Berndale MT4 trading platform is decent however, I requested my first withdrawal after about 9 months of trading and still haven't seen my funds. It's been over 3 weeks now. I've requested several email status updates but only receiving replies they they're working on it. What does that mean? How long can it take? This is beyond reasonable. Would appreciate your feed back on this.
 

FXken

Recruit
Messages
6
Hello Stavro, The Berndale MT4 trading platform is decent however, I requested my first withdrawal after about 9 months of trading and still haven't seen my funds. It's been over 3 weeks now. I've requested several email status updates but only receiving replies they they're working on it. What does that mean? How long can it take? This is beyond reasonable. Would appreciate your feed back on this.
Hello all....did want to mention I received a call personally from Stavro, CEO of Berndale. He explained what the hold up was and that I should see the funds within a couple of days. And yes, I did receive the funds as promised. As long as it took, I do appreciate the follow up and the bottom line results. Thanks again Stavro.
 

Winston19

Recruit
Messages
24
In fact, I also have a rather negative experience with Berndale Group which I want to share it with you.

I have a claim against Berndale in the amount of $24,000.00 USD relating to my trading account no. 153777. To be more precise, I opened an online trading account with Forex TG Pty Ltd which is the previous name of Berndale Group (see http://www.fos.org.au/resolving-disputes/find-a-financial-services-provider/ and search "Berndale"). Having opened the trading account, I deposited $40,000.00 USD in May 2015 and in December 2015 retained the equity of $25,337.97 USD.


I placed a withdrawal request for $24,000.00 USD on 14 January 2016 which was confirmed by Berndale (back then it was Forex TG Pty Ltd) on the same day. I sent Berndale a reminder of the request on 27 January 2016 as the money was neither deducted from the trading account nor sent to my bank account. Subsequently, the monies previously available on my trading account were no longer there and I was not able to reach Berndale either. I maintain that Berndale is liable to me and made a demand for payment of $24,000.00 USD through my lawyer. Neither the initial requests nor the lawyer's demand letters made the Berndale comply with my withdrawal request.

In June 2016, I lodged a complaint against Berndale with the Australian Financial Ombudsman Service which is pending now, so I just wanted to share my story with Berndale to show other investors how it reflects against the abovementioned statements by Mr D’Amore.
 

Pharaoh

Colonel
Messages
19,689
Stavro, can you please explain exactly how you "resigned" from FXTG and then got "hired" by Berndale because those are "different companies" when the FOS clearly indicates those are the same company? Is the FOS confused or do you want to try to explain yourself again? As far as regulation is concerned, the license IS the company.

Winston, go ahead and get a thread going in Scam Alerts. It looks like Berndale may be heading down the same path as it's original name - Forex Place.
 
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