I did contact Pepperstone as they are the broker that is recommended, the reply from them:
"I apologise that I don't have any information regarding the funds claims of past performance. We allow clients to open an account through us to be traded by them and your funds are held in our bank account and trades executed on our servers, but other than than I encourage you to contact them to verify their performance and any third party referrals"
The results do look very impressive and they encourage you to invest $15k... that is the average investment... however the minimum is $3k...
Any information anyone else can find would be appreciated.... still trawling trying to find out more..
I ignored the emails from this company. The last stated the following.
"We are very excited to announce that our fund AUM has reached $5M as of the morning broker deposits credited to our master trading platform.
Therefore, we won't be accepting new applications for some time to allow time to build relationships with new clients, and secure the trading methodology continues to perform impressively."
I had anothe unsolicited email from them to a different email address of mine (today) That one said.
"Please note: FX-Trading-Account.com Is Accepting A Limited Number of New Clients
During This Limited Time Promotion. We Are Almost Full."
This does not inspire confidence. I wouldn't waste your time researching them.
Excuse my ignorance, but I was wondering if someone could help me understand how "scams" work. Hypothetically speaking, let's for arguments assume that FXTA.com is a scam (I don't know if they are or aren't, but just trying understand what occurs in this situation). How does the "scam" (again I am being hypothetical) actually work?
1. Does the underlying broker need to be complicate for it to work? I.e. how do they actually syphon off funds?
2. If the underlying broker is solid, would that make it harder to get the underlying funds?
3. What about FXStat - is it possible for FXStat to verify accounts that are fake?
Sorry, I am being a bit clumsy here, but trying to wrap my head around how FX scams work. Again I am not implying that these guys are scammers, just want to understand the process.