FxStay - so many signs of scam
Thank you for your press release and the time you put to write it
Thank you for repeating your claims so that I can again point out the flaws to warn investors about how to see through your lies and spot how something that sounds too good to be true is really nothing more than a carefully crafted advertising campaign designed to entrap victims.
but i dont have time to answer you several times .. Only for real investors :
You NEVER answered important questions even once. Instead, you keep spouting the same unsupportable lies to lure in real victims.
1- all managed accounts open by investors with any broker they want and only investors can do withdrawal .. all accounts are segregated [/B]
2- all accounts get 20% bonus [ for limited time ]
You cannot legally place real money into another person's account at any properly regulated broker. Even some scam brokers don't allow this sort of AML violation.
If the 20% of money coming in is just a bonus, how can FxStay force "any broker" to give a 20% bonus? Oh, that's right. It can't be done.
Personally, I suggest all traders avoid bonuses at any broker. There are almost always too many strings attached.
3- we guarantee loss up to $100k
Too bad you have failed over and over again to explain where this money will magically appear from. There is also no information about how this guarantee works on the Fx Stay website. If this claim was true, you would have given details the first time I asked. Instead, this claim is obviously a lie to lure in the unwary. It's a common tactic of account management scams.
I have never seen a company make a promise like this honor it. Instead, once things go badly enough, the company then disappears.
4- we trade with safe risk
No. FxStay's own website shows that the account managers there do not use any real risk managent. The limited trading results on FxStay's site show a massive number of positions all being opened at about the same time. Those that go into profit are closed. Losing positions were allowed to rot for quite some time before being closed.
5- we just get money if we make profit and no hidden fee
Assuming people don't sign up via your affiliate links, this may be true. Still, there's an easy way for an account manager who tells lies to steal from clients:
Divide clients into 2 groups.
Open large trades on correlated pairs. For group 1, go long. For group 2, go short.
Price moves. One group makes a profit. Collect the performance fee from the profitable group and tell the losing group it was a rare bad month. Promise to trade it back.
Repeat as necessary.
We also provide the investor password of real accounts for investors
Real investors will want to perform due diligence. That means viewing this information before putting one cent under your control. Real account management companies understand due diligence and will quickly and professionally answer all questions.
Scam companies will side step questions over and over again, will make outlandish promises (like a $100k loss guarantee) with nothing to back up those promises, and will always attack anyone who dares to point out these issues.
Again, I warn traders to avoid doing business with FxStay. The company obviously has no method in place to honor their claimed $100,000 guarantee against losses. Screenshots of trading records on FxStay's own website show a complete failure to have any form of risk management plan.
Watch out for other websites related to FxStay.com. These include:
forexsq.com
miniforex.com
topforexbrokers.com
forexmanagedaccounts.biz
I suggest real investors treat FxStay like a case of leprosy - something to be avoided at all costs.
