aum108
Sergeant
- Messages
- 137
Don't know. But for me it's enough information about Synergy FX to not get involved and waste time and money.
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I asked if along with Tiger there is another strategy that is no longer used. The reply:
"yes I think you are probably asking about the Lion fund..this was actually very successful but it proved too volatile after Brexit so we stopped offering it to investors.
Just on that point,here at Equitimax we are constantly doing research and trying to develop new strategies so as to offer the best we possible can for our investors..without question there will be more "released" as we go forward..this is a very important part of what makes us successful."
They did own up to Lion specifically without my saying Lion.
aum108
Sergeant
- Messages
- 137
Well, they call it volatile....
I remember that Lion FX fell like a rock within the first few weeks.
I wouldn't call that succesfull, otherwise it would be still available.
Anyway, it's your money. You decide.
Dear friends ,
Is there anyone who is registered in the company and we can confirm that the results from here equitimax.com/combined-results are real ?
I ask support why not provide myfxbook link for the strategies , and here is the answer :
"Any results that you see published have been checked,verified and the document produced by an FCA regulated third party (under FCA regulations)I include a link below where you can see them.
FCA regulations do not allow us to link with myfxbook or similar sites because (in their words not ours) such sites link directly to MT4 and this leaves results open to manipulation..this doesn’t mean that the FCA are suggesting they WILL be but that the possibility is there..this makes it against regulations.
I’ve pasted the results link below for you along with the accompanying notes,I hope this explains properly.
Here is a link to the combined results for both Equitimax Oysterand Equitimax Castle strategies : equitimax.com/combined-results
Please note the results documents have not been produced by Equitimax, they have been produced by 4X Asset Management.
4X Asset Management is an appointed representative of Stargate Capital Management, which is authorised and regulated by the Financial Conduct Authority No.191763.
The Equitimax strategies have been licensed to 4X Asset Management and 4X Asset Management confirm the results published within this document represent the current position of what the strategy has achieved.
At the end of the results document you will see a projection table. The projection table outlines the anticipated end account gross balance before 30% performance fee for this monthly period.
I hope all that is clear for you,please let me know if you have any further questions.
Kind regards
David – Business Development Manager "
So ,dear friends what you think about this response ? Can we trust in this company ?
Is there anyone who is registered in the company and we can confirm that the results from here equitimax.com/combined-results are real ?
I ask support why not provide myfxbook link for the strategies , and here is the answer :
"Any results that you see published have been checked,verified and the document produced by an FCA regulated third party (under FCA regulations)I include a link below where you can see them.
FCA regulations do not allow us to link with myfxbook or similar sites because (in their words not ours) such sites link directly to MT4 and this leaves results open to manipulation..this doesn’t mean that the FCA are suggesting they WILL be but that the possibility is there..this makes it against regulations.
I’ve pasted the results link below for you along with the accompanying notes,I hope this explains properly.
Here is a link to the combined results for both Equitimax Oysterand Equitimax Castle strategies : equitimax.com/combined-results
Please note the results documents have not been produced by Equitimax, they have been produced by 4X Asset Management.
4X Asset Management is an appointed representative of Stargate Capital Management, which is authorised and regulated by the Financial Conduct Authority No.191763.
The Equitimax strategies have been licensed to 4X Asset Management and 4X Asset Management confirm the results published within this document represent the current position of what the strategy has achieved.
At the end of the results document you will see a projection table. The projection table outlines the anticipated end account gross balance before 30% performance fee for this monthly period.
I hope all that is clear for you,please let me know if you have any further questions.
Kind regards
David – Business Development Manager "
So ,dear friends what you think about this response ? Can we trust in this company ?
Last edited by a moderator:
Pharaoh
Brigadier General
- Messages
- 20,308
Ask them to provide a link to the exact regulation which forbids them from sharing these results. If they can, post it here so we can all take a look at what it says. If they can't, I'd consider that to be strong evidence that there is no such regulation.
Rebuttal - Head Office
The results published on our website are fully verified by a 3rd party called 4X Asset Management. 4X Asset Management Limited is an Appointed Representative of Stargate Capital Management Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 191763). Should anyone reading this post have any concerns over the results on our website, we encourage you firstly to contact 4X Asset Management who will be able to provide you with access to all verified trading statements and secondly contact Infinox (the broker) who will also be able to verify the results.
All contact details for 4 X Asset Management and Infinox can be found by visiting the FCA registry as they are both regulated companies.
For your reference there are very few FCA regulated RETAIL managed trading services in the UK (please feel free to carry out your own due diligence on this matter), therefore perhaps for some of you you may find it strange that results are not published on sites like MY FX Book or FX Blue but it is a regulatory requirement for Regulated Asset Managers to only reference their data to ensure compliance with regulation. The reason for this is because this is the only way a Regulated Asset Manager can be 100% confident that the results shared are reflective of the actual trading delivered to clients.
It is important, confusion does not occur when comparing a regulated managed trading service against unregulated opportunities because it is the unregulated opportunities where it can be common to see results published on 3rd party websites like My FX Book or FX Blue.
The FCA are the strictest regulatory body in the world and require that any marketing information shared to potential investors has to 100% accurate.
The legal structure operating here is that we are the trading partner, we provide our trading services to 4X Asset Management and they then deploy our trading onto a clients account. This point is very important, because 4X Asset Management have overall control over the trading to comply with FCA regulation. Trading from our end occurs on a Master Account. However 4X Asset Management reserve the rights to adjust the trading that is passed through to clients to ensure they meet the risk settings set by a client.
Unlike unregulated trading services, when operating under a regulated environment the FCA insist on very strict risk procedures which is determined by a client when completing their KYC information, therefore if we used the Master account to display the results on MY FX Book, the results will not always be consistent with the trading clients received and therefore at this time this will fall outside the regulatory requirements of ensuring all marketing information is 100% accurate.
Any client that joins the managed trading service is provided with a login to an online portal that is controlled by 4X Asset Management. Inside this portal a client can view all trading history and all trading that occurs daily but each clients performance will be based around the risk settings they set when they joined.
Furthermore (and this might come as a shock to some), MY FX Book and FX Blue display results straight out of MT4 which can be altered and manipulated by individuals with the required expertise. Before any trading strategy is put live for clients, all our trading has to occur in a sandbox environment where 4X Asset Management monitor the trading for a significant period to ensure the trading is accurate, they will not accept a statement from MT4 or a MY FX Book link because this is open to manipulation.
We fully appreciate the need to validate the information is accurate, and therefore we urge anyone who is reading this who has any concerns to contact the relevant regulated companies to confirm the situation.
Please do not get us confused with unregulated providers / signal services that are able to publish results on these 3rd party websites without any issue.
For any traders looking to join our trading team, please be aware that MT4 Trading Statements and links on MY FX Book will not be accepted as proof of your competence for the very reasons explained in this post.
The legislation related to ensuring marketing material related to FCA regulated companies is accurate can be viewed within the Policy document of 4X Asset Management which is provided to trading partners like us and reads as follows....
"The effect of section 21 of the Act (Restrictions on financial promotion) is that in the course of business, an unauthorised person must not communicate an invitation or inducement to engage in investment activity unless either the content of the communication is approved for the purposes of section 21 by an authorised person or it is exempt. Under section 25 of the Act (Contravention of section 21), a person commits a criminal offence if he carries on activities in breach of the restriction in section 21 of the Act. A person who commits this criminal offence is subject to a maximum of two years imprisonment and an unlimited fine.
1.1 A financial promotion is an invitation or an inducement to engage in investment activity.
The term therefore describes most forms of marketing in financial services. It covers traditional advertising, website content, postings on social media, telephone sales campaigns and face to face meetings. The term is extended to cover marketing communications under the EU Markets in Financial Instruments Directive*(MiFID).
The purpose of regulating financial promotions is to ensure that the information provided is fair, clear and not misleading (Principle 7 of the FCA’s Principles for Business), and to ensure that customers are treated fairly (Principle 6 of the FCA’s Principles for Business).
" 3.2 Past Performance
The only information and statistics to be used for Past Performance must be provided by 4XAM, no other data or information is acceptable.
For the avoidance of doubt – no data may be used or displayed from any other application, specifically including “myfxbook”.
For online promotions a ‘widget’ is available from 4XAM that will provide current and up-to-date Past Performance information.
4x Asset Management-Financial promotions and Social Media Policy V4.0 Page 4 of 18Data must always be for the full period that data is available for the strategy. This will include:
· Reference of the time period the data is from
· A warning that “Past performance is not a reliable indicator of future results”
· Confirmation of the data source – “All data used to provide these statistics is from 4X Asset Management”.
No performance data must ever be referenced for a defined period that is not the whole period of data available"
Yours Sincerely
Equitimax
The results published on our website are fully verified by a 3rd party called 4X Asset Management. 4X Asset Management Limited is an Appointed Representative of Stargate Capital Management Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 191763). Should anyone reading this post have any concerns over the results on our website, we encourage you firstly to contact 4X Asset Management who will be able to provide you with access to all verified trading statements and secondly contact Infinox (the broker) who will also be able to verify the results.
All contact details for 4 X Asset Management and Infinox can be found by visiting the FCA registry as they are both regulated companies.
For your reference there are very few FCA regulated RETAIL managed trading services in the UK (please feel free to carry out your own due diligence on this matter), therefore perhaps for some of you you may find it strange that results are not published on sites like MY FX Book or FX Blue but it is a regulatory requirement for Regulated Asset Managers to only reference their data to ensure compliance with regulation. The reason for this is because this is the only way a Regulated Asset Manager can be 100% confident that the results shared are reflective of the actual trading delivered to clients.
It is important, confusion does not occur when comparing a regulated managed trading service against unregulated opportunities because it is the unregulated opportunities where it can be common to see results published on 3rd party websites like My FX Book or FX Blue.
The FCA are the strictest regulatory body in the world and require that any marketing information shared to potential investors has to 100% accurate.
The legal structure operating here is that we are the trading partner, we provide our trading services to 4X Asset Management and they then deploy our trading onto a clients account. This point is very important, because 4X Asset Management have overall control over the trading to comply with FCA regulation. Trading from our end occurs on a Master Account. However 4X Asset Management reserve the rights to adjust the trading that is passed through to clients to ensure they meet the risk settings set by a client.
Unlike unregulated trading services, when operating under a regulated environment the FCA insist on very strict risk procedures which is determined by a client when completing their KYC information, therefore if we used the Master account to display the results on MY FX Book, the results will not always be consistent with the trading clients received and therefore at this time this will fall outside the regulatory requirements of ensuring all marketing information is 100% accurate.
Any client that joins the managed trading service is provided with a login to an online portal that is controlled by 4X Asset Management. Inside this portal a client can view all trading history and all trading that occurs daily but each clients performance will be based around the risk settings they set when they joined.
Furthermore (and this might come as a shock to some), MY FX Book and FX Blue display results straight out of MT4 which can be altered and manipulated by individuals with the required expertise. Before any trading strategy is put live for clients, all our trading has to occur in a sandbox environment where 4X Asset Management monitor the trading for a significant period to ensure the trading is accurate, they will not accept a statement from MT4 or a MY FX Book link because this is open to manipulation.
We fully appreciate the need to validate the information is accurate, and therefore we urge anyone who is reading this who has any concerns to contact the relevant regulated companies to confirm the situation.
Please do not get us confused with unregulated providers / signal services that are able to publish results on these 3rd party websites without any issue.
For any traders looking to join our trading team, please be aware that MT4 Trading Statements and links on MY FX Book will not be accepted as proof of your competence for the very reasons explained in this post.
The legislation related to ensuring marketing material related to FCA regulated companies is accurate can be viewed within the Policy document of 4X Asset Management which is provided to trading partners like us and reads as follows....
"The effect of section 21 of the Act (Restrictions on financial promotion) is that in the course of business, an unauthorised person must not communicate an invitation or inducement to engage in investment activity unless either the content of the communication is approved for the purposes of section 21 by an authorised person or it is exempt. Under section 25 of the Act (Contravention of section 21), a person commits a criminal offence if he carries on activities in breach of the restriction in section 21 of the Act. A person who commits this criminal offence is subject to a maximum of two years imprisonment and an unlimited fine.
1.1 A financial promotion is an invitation or an inducement to engage in investment activity.
The term therefore describes most forms of marketing in financial services. It covers traditional advertising, website content, postings on social media, telephone sales campaigns and face to face meetings. The term is extended to cover marketing communications under the EU Markets in Financial Instruments Directive*(MiFID).
The purpose of regulating financial promotions is to ensure that the information provided is fair, clear and not misleading (Principle 7 of the FCA’s Principles for Business), and to ensure that customers are treated fairly (Principle 6 of the FCA’s Principles for Business).
" 3.2 Past Performance
The only information and statistics to be used for Past Performance must be provided by 4XAM, no other data or information is acceptable.
For the avoidance of doubt – no data may be used or displayed from any other application, specifically including “myfxbook”.
For online promotions a ‘widget’ is available from 4XAM that will provide current and up-to-date Past Performance information.
4x Asset Management-Financial promotions and Social Media Policy V4.0 Page 4 of 18Data must always be for the full period that data is available for the strategy. This will include:
· Reference of the time period the data is from
· A warning that “Past performance is not a reliable indicator of future results”
· Confirmation of the data source – “All data used to provide these statistics is from 4X Asset Management”.
No performance data must ever be referenced for a defined period that is not the whole period of data available"
Yours Sincerely
Equitimax
Pharaoh
Brigadier General
- Messages
- 20,308
So since unlicensed people share their actual results, you can't share actual results. Oh wait! There are plenty of unlicensed companies making unverified claims on this thing called the internet. Logically, this would preclude your firm using this internet thing too. 
Since you might customize the trades based on client risk appetite, you can't share actual results.
I have a brilliant idea for you. Use FPA's Performance Testing. It's the most transparent one out there. Share the MOST conservative trades you offer to any client. If a client wants more aggressive trading, let them know that any change from the most conservative setting will mean their trades will no longer be an exact match to what is publicly shown.
Can you show chapter and verse of any regulation which would explicitly prohibit this?
Since you might customize the trades based on client risk appetite, you can't share actual results.
I have a brilliant idea for you. Use FPA's Performance Testing. It's the most transparent one out there. Share the MOST conservative trades you offer to any client. If a client wants more aggressive trading, let them know that any change from the most conservative setting will mean their trades will no longer be an exact match to what is publicly shown.
Can you show chapter and verse of any regulation which would explicitly prohibit this?
Rebuttal - Head Office
In response to Pharaoh comments.....
The suggestion of sharing the most conservative clients results is something we have considered, however sites such as My FX Book and FPS's Performance testing and in fact all 3rd party verification sites fall outside the FCA regulations.
Under COBS4.6 Past, simulated, past and future performance, it states that a regulated firm should clearly show the difference between simulated and live results when displaying performance results to potential investors.
MYFX Book (and other 3rd party verification sites) does not provide this facility for investors to differentiate between simulated and live results as they take readings directly of a master account and have no way of differentiating whether real funds of clients are actually being traded. This means should MY FX Book be used to show potential results achieved (irrelevant of whether we use the most risk advert clients account) this source would not comply with the relevant legislation and 4X Asset Management would then be in breach of COBS 4.6
This is why results published on the Equitimax website clearly show potential investors the difference between Simulated and Live Results.
We hope this clearly answers your question.
In response to Pharaoh comments.....
The suggestion of sharing the most conservative clients results is something we have considered, however sites such as My FX Book and FPS's Performance testing and in fact all 3rd party verification sites fall outside the FCA regulations.
Under COBS4.6 Past, simulated, past and future performance, it states that a regulated firm should clearly show the difference between simulated and live results when displaying performance results to potential investors.
MYFX Book (and other 3rd party verification sites) does not provide this facility for investors to differentiate between simulated and live results as they take readings directly of a master account and have no way of differentiating whether real funds of clients are actually being traded. This means should MY FX Book be used to show potential results achieved (irrelevant of whether we use the most risk advert clients account) this source would not comply with the relevant legislation and 4X Asset Management would then be in breach of COBS 4.6
This is why results published on the Equitimax website clearly show potential investors the difference between Simulated and Live Results.
We hope this clearly answers your question.
Pharaoh
Brigadier General
- Messages
- 20,308
Simple enough, ask a client for permission to share their trading account with the FPA's Performance Testing Program. Then there is NO simulated information for anyone to have to differentiate from real results. Instead, only true to life information from a genuine client account would be available.
The FPA can cover the account number and the client's name.
The FPA can cover the account number and the client's name.
