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Services Offered FxStay- PROBABLE SCAM - Professional Forex Manaegd Account, Guarantee Main Investment Up To $100.000

Discussion in 'Classifieds' started by forexguy1, Apr 10, 2014.

  1. forexguy1

    forexguy1 Very Suspicious Person

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    The Fxstay team forex broker provides guarantee to its clients forex managed accounts up to $100.000.00, The guarantee include the main investment clients investing in a managed account with Fxstay broker for trading by its professional manageres, To make it clear for you let me tell you example: For example a client investing $100.000 with Fxstay broker and for any reason the traders making loss but as your main investment is guarantee you will get all $100.000 back in your account .

    This happens for the first time in managed forex account industry that a fx broker guarantees main investment of its clients

    Visit:

    fxstay.com
     
  2. Pharaoh

    Pharaoh Colonel

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    I haven't yet seen any sort of "insured" account balance that wasn't either a worthless marketing gimmick or else a deception of some sort meant to lure in traders.

    So, please explain exactly how investors would be compensated if their managed accounts sustain significant losses. Where is the money for this supposed to come from?

    Here's another oddity of these managed account.

    Medium risk promises 80% annual returns.
    Safe risk promises 100% annual returns.
    Super safe risk promises 120% annual returns
    Super safe risk (2) promises 150% annual returns

    So, we're supposed to believe that lower risk results in higher returns.

    Personally, even without those HUGE cuts of the profits, I doubt that any of these accounts could double each year with any degree of risk control.

    Here's a Pharaoh Challenge for you. Be aware - so far, no one has ever succeeded in passing a Pharaoh challenge. If you do, you'll gain instant fame.

    Submit a $10,000 or larger live account to Performance Testing at the FPA to show how safe and profitable this trading really is. If you can sustain an annual return of 100% for 18 months (not even including your 50% or so profit sharing) with low risk and low drawdown (let's say no more than 5% at risk at any time and no more that 20% drawdown), I'll personally endorse your plan. If you can show 100% return to an investor done safely while removing the monthly performance fee during that time, I'll open an account with you and actively recruit investors.

    Succeed and you'll be famous. Try and even come close and you'll gain more clients. Find an excuse not to try and you'll be admitting that these managed accounts can't possibly have returns anywhere close to what you claim.
     
    #2 Pharaoh, Apr 10, 2014
    Last edited: Apr 10, 2014
  3. forexguy1

    forexguy1 Very Suspicious Person

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    Fxstay team dose not link to third party history and the history is on the site ..Past performance dose not indicative future result .

    To trust their traders and trading strategies are profitable they invest 20% in the clients accounts and they guarantee %100 money back guarantee up to $100k .
     
  4. Pharaoh

    Pharaoh Colonel

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    Wow, such a quick FAIL on everything I asked.

    Past performance can be used to tell how risking the strategy has been. Plus, it can be used to verify performance claims.

    Anyone can claim to make a lot of money. I wouldn't turn one cent over to someone who can't prove that they've already been able to do this in a safe way.

    So by performing some unspecified investment of 20% of client finds, you claim you'll be able to make up any losses up to $100k in all client accounts. I asked for details and you provided none. This sort of completely unsupported claim is typical of a scammer who wants to reassure clients who don't understand investing.

    This reminds me of some scams that claimed forex accounts were completely safe because some of the money was used to buy gold. Unless the part of the account in gold gained value faster than any losses, any such claim would be a complete lie. As it turned out, the money wasn't used to buy gold or anything else. The whole thing turned out to be a Ponzi scheme.


    So, let's summarize.

    1. There's no real evidence that FxStay ever has made a profit for any investor or that FxStay has the ability to make any profit. Further, you refuse to take any steps to show evidence that the trading ever has been profitable or that risk is controlled in any way.

    2. Other than a meaningless 20% investment claim, you've provided Zero details of where money for this so-called $100k guarantee against losses will be funded.


    Based on this, I personally recommend everyone avoid FxStay. I believe there is a significant chance that Fx Stay is a one-way ticket to unrecoverable losses of client funds.

    If real information about how this 20% investment will be so amazingly safe, secure, and profitable that it can protect $100,000 of funds can be provided, I may revise my opinion. On the other hand, if there really was a way to have $20,000 invested to provide absolute protection of $100,000, why not put the whole $100,000 into that investment?
     
  5. forexguy1

    forexguy1 Very Suspicious Person

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    i answered all of your questions but you said cheap comments ..past performance is on the site: fxstay.com/managed-account-types.html

    another important thing is fxstay invest %20 cash in its clients account that no company do it .. This means If you invest $25000 in a forex managed account with Fxstay team they will invest $5000 from their own money in your managed forex account so you will have totally $30000 in your account ready for trading.
     
  6. Pharaoh

    Pharaoh Colonel

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    Your "results" are nothing more than some image files of a limited amount of account activity. There's no way to verify that they aren't carefully selected to show only a few days were trading was far above average. There's no way to verify that they weren't photoshopped.

    So, based on 5 old and unverified screenshots, a client is supposed to believe your promises of results so unbelievable that even Bernard Madhoff wouldn't have made them.

    You now claim you'll add 20% to the account. If this is a broker's bonus, I'll believe that. If you are claiming that FxStay will deposit real money into a trader's account, please explain how a broker will get around AML laws by adding money that does not belong to the account owner.

    Since this 20% appears to have nothing to do with the claim that losses up to $100k are covered, please explain exactly where the funds to cover losses are supposed to come from.
     
  7. forexguy1

    forexguy1 Very Suspicious Person

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    you can thing anything you want like its photoshop or fake or whatever but we can give investor password to check for each investors really want to invest however past performance does not indicate future results and its not important at all as we guarantee main investment of our clients .

    we can give 20% as bonus or cash directly to the investors to invest in the managed account .

    We did nt made any big loss yet that we couldn't afford it as we have professional team and prefect dedicate trading strategies that is why we guarantee main investment .. if 1% we make loss we will pay back all the amounts .

    By the way do you want to invest ?
     
  8. Pharaoh

    Pharaoh Colonel

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    I do not trust FxStay

    It looks to me like you want the world to trust you while providing no proof of your wild claims.

    1. Only the account owner is allowed to deposit or withdraw funds. The only other withdrawal possible is an account manager's performance fee specified in the LPOA. The only other deposit possible is various credits the broker itself gives. If a 3rd party deposits money into a traders account, that would appear to be a clear a violation of AML regulations. Why don't you invite your favorite broker to join this discussion and explain how FxStay can deposit real money into a 3rd party account without breaking the law?

    2. No independently verified account statistics to show proof of ever once having made a fraction of the insane profit projections on FxStay's website. You keep saying that past performance doesn't guarantee future results. Although this is true, I don't think anyone here would invest if they saw an account lose 5% every year for 5 years in a row alongside a claim that the account could probably make 180% profit the next year. Seeing the trading records would clearly indicate how risk is being handled, which is a very good indicator of the chances of an account suffering a sudden, catastrophic loss.

    3. You claim to offer some magical source of insurance to cover losses up to $100,000, yet you still have not bothered to provide even one tiny scrap of information about who or what would provide this money if all the accounts under FxStay's management suffered large losses tomorrow. If this offer was real, you would have provided details of exactly how it works the first time I asked. Since you continue to avoid explaining how it works and where the money comes from, I can only conclude that this claim is nothing more than a cheap lie designed to lure in unwary investors.


    I laid out the terms of what I'd want to see, not just to invest, but to actively promote FxStay. You've failed across the board over and over again. Too bad. I'd have happily assisted you if you could have backed up your assorted claims about FxStay. Instead, it looks to me like most or all of those claims are completely fake.



    My best advice to investors is to avoid FxStay. I personally recommend against placing 1 cent under their control.



    A good place to find verified results of forex account managers (which don't prove future results, but at least show risk management and information about trading style and skill) is here:

    Forex Managed Account Performance on Live Forex Account.

    No matter how good the results are or what other promises are made, please read my advice here on how to investigate an account manager to help make sure the offer is legitimate:

    http://www.forexpeacearmy.com/forex...ose-all-your-money-managed-forex-account.html


    If anyone really believes you can get "insurance" to cover losses in a trading account by an account manager, call up a licensed insurance agent and a regulated stockbroker and ask. Be prepared to be laughed at.
     
  9. forexguy1

    forexguy1 Very Suspicious Person

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    it seems you are not investor and just want to show all brokers as scam one .. fxstay team is in the industry since 2008 and you cant find any one we scam ... below is our benefits:

    1- all managed accounts open by investors and only investors can do withdrawal .. all accounts are segregated
    2- all accounts get 20% bonus [ for limited time ]
    3- we guarantee loss up to $100k
    4- we trade with safe risk
    5- we just get money if we make profit and no hidden fee
     
  10. Pharaoh

    Pharaoh Colonel

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    FxStay - poor risk managment and no evidence to back up other claims

    I am a trader and an investor. Unlike many gullible investors, I prefer to perform due diligence on any potential investment in order to avoid putting my money with either scammers or incompetent companies. A critical part of due diligence is verifying the claims from the company that wants me to invest.

    Anyone putting money under someone else's control without performing due diligence is just begging to be scammed. For some reason, you don't even seem to understand the concept of due diligence, or is it just that you don't want people to bother performing due diligence?

    Repetition of "trust us" doesn't make FxStay trustworthy. Evidence proving claims is all that matters.

    Segregation and preventing 3rd party withdrawals are both functions of the broker selected and has nothing to do with FxStay. The problem is that you already claimed to be able to deposit cash (not a bonus) directly into a trader's account. This appears to violation AML rules against 3rd party deposits. If there is a simple bonus, that again is a function of the broker.

    You have failed again and again to explain where the $100k compensation for clients will come from. Do you have that money sitting in an escrow account somewhere? If 10 people sign up tomorrow with $100k accounts, will you immediately add $1 million to that escrow account?

    I've watched the claims of account management companies like yours for years now. So far, all claims of insuring losses turned out to be lies. Amazingly, not one manager yet has managed to clearly and convincingly provide details of where the compensation money will come from.

    I can only conclude that your claims are 100% false. I believe that if a client did sustain a large loss, the real "insurance" would amount to nothing more than either endless delays and/or a promise to "trade it back".

    If such a guarantee against loss was real, a proper explanation of how it worked would be a valuable selling tool. A company would have to be run by idiots to really have such a function and not be able to explain it the first time someone asks.

    I wish you did. Unfortunately, 5 old screenshots (3 heavily edited) only covering a small amount of trading days provides nowhere near the amount of evidence any investor would need to be certain that this a claim of good risk management is true.

    What those screenshots do show is that your company trades without hard stoplosses. A loss of internet connection at an inopportune time could lead to the inability to close trades during a sudden move against client positions. Some trades are held over weekends, meaning a price gap in the wrong direction could seriously impact clients.

    Further, one of the accounts shows 5000 going in, and the biggest loss is $270.22. Do you call blowing 5% of the initial investment on a single trade good risk management? That trade also shows a negative swap of $29.23 and the trade was held from June 11 until June 27th. This looks to me like a simple case of a trader being unwilling to close losing trades. All the larger losses on that image show the same pattern - open on the 11th, close on the 27th with large losses enhanced by negative swaps. Total damage for trades closed on the 27th comes to over $850.

    Worse, look at the opening times of all those trades. HUGE numbers of trades opened very quickly. Then trades that go into profit are closed and losing trades are allowed to run. It looks like the total risk to the account from having so many SL-free trades opened at the same time was very large.

    I do see that all the trades on that page do sum up to a profit, but the way those losses were racked up clearly shows little or no attempt at risk management. Too bad - if the trader had used real risk management, the losses would have been smaller and the profits would have been larger.

    I'm attaching a copy so that you can't later swap out the file on your server and deny it.

    FxStay_image_2.

    This is good, but it would be better if several your websites didn't also include IB links to at least one broker. Clients who sign up from such a link could be paying you a commission whether the account makes or loses money.


    Two points:

    1. FxStay is an account management company, not a broker, even though one of your other websites (TopForexBroker.com) lists FxStay as being a broker.

    2. I regularly point out scam and potential scams to try to protect traders. I don't call companies a scam for no reason. I gave you every opportunity to show that your claims about FxStay were true and even promised to personally invest and endorse you if you could prove them. You failed miserably to provide any proof other than repetitively stating that your claims were real.

    So, if I've seen number proven managed accounts scams that ripped off lots and lots of money from traders making claims nearly identical to yours, and all those companies also failed to back up their claims with simple evidence (while saying things like "trust us, we've been in business a long time"), why exactly should anyone accept any of your claims with no proper evidence?


    As long as your answers remain the same, my advice remains the same:

    I believe that the claims of covering losses up to $100,000 are completely a lie designed to lure in unwary investors. Further, some of the limited trading records available for viewing on FxStay's website show trading methodologies that make the kind of mistakes I would expect of an amateur, not from a professional forex account manager.

    I warn all traders not to use FxStay to manage accounts.
     

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