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FX Intelligence

Discussion in 'General Forex Talk' started by euroforex, Nov 21, 2008.

  1. euroforex

    euroforex Private

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    I was wondering if anyone has heard of FX Intelligence: FX INTELLIGENCE - ABOUT US
    which is an FX Managed account platform based in Hong Kong. What it does is set ups a POA arrangement with you bank to access your banking account directly for trading FX spot market currency pairs. I wonder just how legal this is - and/or safe; though they profess risk management on your account. Min account balance is $10M - though inside sources tell me you can start with $50K. Curious as I've not heard of this type of set up before.
    Best,
    euroforex
     
  2. Pharaoh

    Pharaoh Colonel

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    In theory, you can have a POA with someone from just about anywhere in the world and have them manage your account.

    You need to go through that POA with a fine toothed comb. If you plan to risk $50k or more, pay a lawyer to check it and consider paying for some background investigation on the company too.

    The website says their Chairman formed the company in 04, but the domain wasn't registered until 07. That's not a deal-breaker, but it is enough of a caution flag to warrant further investigation.

    The company is supposed to be in Hong Kong, but the server hosting and domain contact is in Australia. Once again, not a deal-breaker, but just something that needs to be explained.

    The Chairman (Berwin Chase) supposedly retired from UBS in 1980. According to one of the tiny number of mentions of him on the web, he was in school until 1970. That was a short career. How he stayed off google's radar other than his own website and LinkedIn (Berwin Chase - LinkedIn). There's one other place he comes up. Someone asked about him and another person quoted the info from the FxIntelligence website. (Banking Forum - Bankers' Message Boards and Financial Forums: info please)

    I would definitely want to know why the Chairman seems virtually non-existant. I would want to know who some of the other major players in the company are, and if they are a bit less invisible online.

    One thing - if a company can't give a complete and convincing answer to any questions about any nagging little inconsistencies or if they try to say such things aren't important, take your money and run in the opposite direction.
     
  3. euroforex

    euroforex Private

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    Thx

    You covered FX Intelligence with great recon! The Chairman won't answer these questions - as a client of mine wanted me to set up a few bank accounts... but I begged off not feeling exactly secure with his objection to be vetted. The technical analysis algorithm is interesting... which captured my attention initially. I know of one client who seems happy - having made about $70K out of a $100k deposit - however, he owes the Chairman a substantial performance fee. Still, the NFA regs makes me very cautious working offshore with no transparency.

    Thanks again for taking the time to repsond. I'm sure we'll hear about this platform in the future.
     

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