blueseaforex.com

[UnForex2]

I too have replied back last night to the email from David Jones, expressing my anger at why SL were abviously not used and why the trader was allowed to build up such huge losses.
I do agree with the thread that would be some liability for Blue Sea to investigate why SL were not used.

 

[oportunis]

I think this was made intentionaly, sice this trader gets % from broker anyway. If you opened trough his link, he gets some % from you depositing on that broker and he gets some % from making the profit in your case, he got something from 21k he made and than he drowned the account. Why the SL was not used, why the trader didn't stop trading if equity went bellow 75%, those questions have to be answered by them.

 

[UnForex2]

I don'y fully understand the thinking of either the trader or BSF in this short-term gain view.
Potentially, if both BSF and the trader managed our accounts properly, they would have made far more profit from our growing gains.

The projection figures I had drawn up were showing that as well as my account balance having compound gorwth, the trader and BSF would too have made 000's within the next few months.

Not sure where I go from here now.
Have you now retracted the LPOA from FXCM?

I really do think that the concept of a professionally managed Forex account, that uses robust trading practices and SL mandatory on every trade, is still a great model for those of us who do not have the time or understanding to monitor the forex markets and trade.
Just need to try and find a UK based management company that has a good track record.

 

[EricBubb]

What are the chance of obtaining these answers I am in contact with Danny Gakmyan <dgakmyan@fxcm.com> of FXCM and so far all I got is thank you for letting us know

 

[Jamilo]

Hello
These people are not based in Australia
their address
Bader Hilal
House 47, Avenue 35, Block 433 Jeblat Hibshi Bahrain

On emails with me he uses the name David Jones

This is the standard email used when he empties your account
I am sorry to what happened to your account, I am very disappointed with our trader’s performance. I told the trader to discontinue trading in your account to stop further losses.

Best Regards,
David Jones

These traders are called "FLUSHER" , they "FLUSH" your account to the brokers and split the money with them , and the brokers are approving this practice as the actually do not process the orders and they wait for the market to start trending them the go against the trend to make you loose all the money to the broker.

notice also how FXCM gives BSF a "special " link for the investors to open the account ??!!


this clearly shows FXCM are separating those accounts from others (for a specific reason )

scamming on the forex market always start from the BROKERS

 

[Pharaoh]

Complaints - Eric started in the right place - Notify the broker. This won't get your money back, but may help prevent this from happening to other traders.

Next, ask Blue Sea about getting compensated for anything beyond the 25% they said they could lose. If the response is anything short of "please tell us what method you want the money sent by", followed by them sending the money immediately, it's time to take thing as far as you can.

https://www.forexpeacearmy.com/fore...ave-you-been-scammed-how-complain-manual.html

You want to complain to the authorities in Bahrain, Australia, and your home country. If your account was with FXCM in the US, let the CFTC and NFA know. If the UK branch, report the situation to the FCA.

You should also file a complaint with econsumer.gov - Your site for cross-border complaints.

I agree that some brokers may use "flushers" but doubt that FXCM would do this. Anyone who signs up as an IB or account manager can get a special signup link.

What this person could be doing instead is running a second website offering managed account services, probably at a second broker. Once he has several accounts at each, he goes super-heavy in one direction on one set of accounts and does the opposite on the other. One set of accounts is wiped out (and people get suspicious of the broker). The other set makes big profits and he collects his management fees from some very happy clients.

The reason for a second broker? If the first broker locks him out, the second one won't know about what happened and will still pay him.

BTW - Never ever let your account manager also be your IB. Even if your account isn't wiped out, he'll still be getting a cut of the spread on every trade, win or lose. This provides incentive to place extra trades. Look up "Rizwan Awan" inside the FPA's forums and reviews. When he got short on cash, he'd just make large numbers of random trades to generate IB commission for himself.

 

[EricBubb]

Thank you for your advice. My reason for posting my experience on Forex Peace Army is :- This is the only website I trust. I hope to stop other people investing with Blue Sea Forex and Forex Peace Army saved me from investing with the "Vista FX Trading Group" which is another scam trader.

 

[oportunis]

Hello, I think this page is owned by the same people: Home | Best Managed Forex Accounts
They both have increase from 10k to 50k in August, the template is almost the same plus I started asking the same questions as in bluesea and they didn't even reply. So everyone beware of them!!!

 

[Pharaoh]

That's a possibility. Both registered via namecheap and use whoisguard. That could be coincidence, but taken with other similarities the odds of some overlap between the two seem to be growing.

 

[EricBubb]

On LPOA your are asked to sign the trader is "bader hilal" his website which is not completed is baderhilal.com. Investors are Sucked in on Blue Sea Forex Managed Accounts | Managed Forex Accounts I am waiting for them to post their July performance figures.

I agree best-managed-forex-accounts.com looks very simuler to Blue Sea Forex "Bader Hilal" Right down to their claimed performance figures.