forexmanaged.eu SCAM

[manny0709]

Forexmanaged.eu Issues

Has anyone had any issues with this website. I opened an account with them last november, we agreed a stop loss of 25% of the Account. he has blown 50% in the space of 4 days, when i questioned him regarding what happened he is blaming the broker first, for not excuting his orders correctly, the broker has not had any complaints from him to date. he is now saying his computer crashed and he has lost all his data, but he still cant explain to me why he was still trading after the acc had 25%DD which was the limit agreed.

I've the log and he was trading 20 lots even though he told me the maz risk he takes 1.75%.

 

[Pharaoh]

Sounds like typical overtrading by an account manager who can't follow his own rules.

Is this guy also serving as your IB? If so, he's getting a commission on those big trades, win or lose.

Computer failure isn't an excuse. An account manager should have hard stops in place so that losing connection to the broker doesn't do significant damage to the account.

 

[manny0709]

yeh is he serving as my IB, he says he is registerd with the NFA, i will report for for churning my Account, what else can i do to try and get this money back, as she not have gone over the max DD i allowed.

 

[Pharaoh]

I'm not sure I understand. You agreed to SL at 25%, but 50% of the account has been blown and this is not over the max DD?

Number one, check and see if that NFA registration is for real. It's amazing how many people and companies claim to be NFA registered and aren't. Some will claim that the paperwork is still being processed. The reality is that once the initial application is submitted, the information goes into the NFA Basic database, so pending applicants are listed.

 

[manny0709]

he told me nowm, that he is not registered with the NFA, i meant to say the max i allowed him to lose was 25% but he has lost 50% and it blaming the broker. but the broker is saying he has not contacted them regarding any issues.
the below is what he told me

Unfortunately trader can do nothing when platform simply disconnected of order simply not executed or executed by different price. Stop orders used, sometimes by standard platform command, sometimes as a MT4 script

 

[Pharaoh]

First, it sounds like he falsely claimed to be NFA registered. If so, report that to the NFA immediately.

Hard stops would be honored (possibly with some slippage) even if his computer was run through a meatgrinder. Claiming disconnect is no excuse for not using a stoploss.

Find someone at the broker who is willing to get into a 3 way email discussion with you and him. That should make quick work of any bogus excuses.

 

[manny0709]

I've tried donig a 3 way email but he does not respond. I've emaield NFA to tell them his saying he falsely registered. what else could i do?

 

[manny0709]

i opened an account with them, they blew 50% of the account in 4 days then blamed the broker. the broker advised me that they have not had any contact with them regarding any issues. he keeps on blaming the broker without actually telling me what happened. he also told me he was NFA registered which he is not. when i ask him why he never stopped trading once the acc hit 25% loss as agreed, he blames the broker! he is a complete liar. i have emails and trading ac history to prove his is a total scam and liar.

 

[Pharaoh]

see if you can get a broker rep into a 3-way email conversation with him. That should put an end to that excuse.

 

[manny0709]

i tried that, i emailed a 3 way conversation but he never replied back, replying only back to me saying he has issues, i then forward that to broker who has said they did not receive any contact from him regarding any problems, its been a month nearly as he has still not contacted them. he just told he concentrate on recovery! i've stopped my Account with him