Fortress Fund & Knight Capital

After numerous (over one month ) of e-mials , phone calls and complaints to KCM and FF I still can not get my funds withdrawal processed from KCM . They claim that 2 small hedging positions (which run open for over 5 weeks now and which make no profit) block my withdrawal request . I have more than 10K USD free margin available on my trading acc and I the MAM agreement I agreed to does not place limits on withdrawals (attached).

Martin

Tell KCM to block further access from Fortress and change the master password. If you can't reset the master password, demand that KCM assist you in this. Then close the hedged positions and try to withdraw all of your funds.
 
I am highly suspicious Fortress Fund Set and KCM are one and the same, I don't think contacting one independantly of the other will make any difference.
 
I can't believe people still are gullible enough to invest in fortress
Sometimes people just get sucked in by the hype - tthey often think 'well even if its only half as good as they say it then its worth while" I'm getting spammed spammed by them at the moment. My personal yello a lert is when you get emaisl from multiple different senders promoting the latest and greatest broker/robot
 
After another attempts (e-mails and calls) of getting my funds back and positions closed I am still in the same place . I can not get my withdrawal processed .Now FF said that my opened positions are part of long term strategy when few weeks ago they claimed my positions should be closed relatively soon .I attach my acc positions .
If anyone else has got issues with funds withdrawal please e-mail me, martin818181@yahoo.co.uk so we can make list of people with withdrawal problems and maybe come up with some solution .

I appreciate Your support .

Martin
 

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IMPORTANT INFORMATION FROM KNIGHT CAPITAL / KMS.ASIA BROKERS LTD.:

We have been in communications recently with FPA to bring our attention to the clients on this thread -- Knight Capital is actively assisting clients of the "Fortress" Funds managed [MAM] account program to assist in account detaches/ withdrawals etc. We are fully aware of the major downturn in trading this fund took in late Dec 2015 after 3 years of successful trading. If you have a current account in DD and need assistance - please contact us immediately.

International Support info: https://www.knightcapitalmarkets.com/contact-us.php

Kindly include your account number as well in email header communication for fast communications.

Additionally, it will be noted as we have noted privately that we are NOT associated with Fortress Fund directly besides their being one of our Fund clients, just like 300 MAM funds currently at our brokerage.

We are here with full intention to assist clients as we do 24x5 for the last 8 years.


Hiroko Watanabe
Admin
www.KMS.asia
 
Thank you, we will now see what happens over the next few days as my month old string of e-mails (to Knight Capital) were refreshed this morning and your reaction to that will put me in a position to comment of the validity of your statement above.
 
I emailed KCM and this is their response. What a joke. I did not signed any MAM Agreement when open my account. There are still two open trades in my account which were open back in Nov 2015. No other trades since then. FF has abandoned trading in my account since I requested to have it close in Nov 2015.


Date: Thu, 4 Feb 2016 03:57:26 -0500
Subject: Re: Withdrawal
From: clients@knightcapitalmarkets.com

Hi Chu,

Thank you for contacting us in response to the recent post on Forex Peace Army, which was made to ensure all of your concerns are comprehensively addressed. Please allow me to express our genuine appreciation toward any unnecessary frustration you may be experiencing as a result of your important concern.
However, and as you may recall from our previous correspondence, your account is unable to be detached from the MAM while open trades exist pursuant to Clause 10 of your MAM Agreement. This policy, which is not unique to our brokerage, is necessary as a result of technical limitations in the MAM plug-in we utilize. We utilize a very popular MAM plug-in employed by many brokers. This policy is implemented in order to ensure client detaches do not affect the remaining existing clients on the MAM. We apologize for any confusion or inconvenience this necessary policy may have caused.
We maintain revocation requests on file until that time in which the account is flat (no open trades exist). At which point it will be automatically executed. Although we appreciate your dissatisfaction with your third-party manager's trading, we are nonetheless unable to intervene in their management of your account. You should direct your trade-related inquiries toward them, specifically regarding their management of the open positions on your account.
Sincerely,
Oliver
 
I can now report that Knight Capital has refunded my entire investment of $ 3,000.
Fortunately Fortress crashed before they could employ my funds and after some communication between me and Mr Hiroko Watanabe above, I received the last portion of my refund today. Thank you.
 
IMPORTANT INFORMATION FROM KNIGHT CAPITAL / KMS.ASIA BROKERS LTD.:

We have been in communications recently with FPA to bring our attention to the clients on this thread -- Knight Capital is actively assisting clients of the "Fortress" Funds managed [MAM] account program to assist in account detaches/ withdrawals etc. We are fully aware of the major downturn in trading this fund took in late Dec 2015 after 3 years of successful trading. If you have a current account in DD and need assistance - please contact us immediately.

International Support info: https://www.knightcapitalmarkets.com/contact-us.php

Kindly include your account number as well in email header communication for fast communications.

Additionally, it will be noted as we have noted privately that we are NOT associated with Fortress Fund directly besides their being one of our Fund clients, just like 300 MAM funds currently at our brokerage.

We are here with full intention to assist clients as we do 24x5 for the last 8 years.


Hiroko Watanabe
Admin
www.KMS.asia
Dear Sir, I have posted on FPA that you refunds are now complete. Thank You.
 
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