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Global FX Trading Scam or Not??

Discussion in 'Has anyone heard of?' started by mohbinzzar, May 3, 2014.

  1. mohbinzzar

    mohbinzzar Recruit

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    I have been contacted via phone from a trader called John from global fx trading in Dubai.
    They are offering me a trial managed forex account for £1000 with returns of up to 18% per month and if i am happy I will have to add a further £9k after 30days it sounds TO GOOD TO BE TRUE so i am asking here if anyone has done any business with this company??

    I work in IT and I have looked at their website .globalfxtrading.com it seems to be a very basic Wordpress template.

    Should I run for the hills or give it a go??

    thanks
    Mo
     
  2. Master Yoda

    Master Yoda Captain

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    are they regulated anywhere?

    Basically, anyone who promises a return is a liar
     
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  3. ilearn2t

    ilearn2t Sergeant Major

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    Hello mohbinzzar

    Managing Director: Amir Jalal, states Global Fx Trading (GFT) have a 10 year track record defined by achievement and consistency in customer satisfaction.

    Media Contact :
    Global Fx Trading
    Boulevard Plaza Tower 2
    Emaar Boulevard,
    Downtown Dubai
    PO BOX 124342
    Domain Name: GLOBALFXTRADING.COM
    Registrant Name: David Allen
    Registrant Organization:
    Name Server: NS5.COGWIRE.NET
    Name Server: NS6.COGWIRE.NET
    DNSSEC: unsigned

    For further information please contact David Rossenberg at GFT on +971-4-409-6732 or pr@globalfxtrading.com or contact@globalfxtrading.com

    Good luck
    Liz
     
  4. Pharaoh

    Pharaoh Colonel

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    10 year track record? There's an easy way to test if this is a fabrication or not. Ask for investor access to an account funded with at least $10k that has been traded by them for at least 1 year.

    If they decline, post the excuse here.
     
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  5. mohbinzzar

    mohbinzzar Recruit

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    Waiting for a call!

    I am expecting a call back from these people soon.

    Any ideas of questions i should ask them so i can determine if they are scammers or not?

    I wouldn't want to rubbish the name of a legitmate company, BUT if they are scammers (I'm 95% there) then we must do what we can to remove them.
     
  6. Master Yoda

    Master Yoda Captain

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    As I said before, there is no 100% promised profit in investing otherwise why would they need your money and invest their own money instead? :)
     
  7. Pharaoh

    Pharaoh Colonel

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    Unless you went to their website and shared your phone number with them, the initial phone call would be considered a "cold call", also known as "telemarketing". Legitimate financial companies have no reason to use this sort of tactic.

    If there was a company making 18% per month each and every month, they'd be so famous there would be no reason to advertise.

    Let's crunch some numbers.

    18%, compounded monthly turns $1000 in to about $7000 in a year. 1 million would turn into about 7 million.

    Obama took office in early 2009. That means he's been in for 5 years. Naturally, he'd be able to use the vast resources at his disposal to find anyone who could make 18% per month.

    Using this plan, $1,000,000 turns into over $16 billion in 5 years. By year 8, he'd have over 5 trillion. why hasn't he announced this as a way to fix the US economy?
     
  8. mohbinzzar

    mohbinzzar Recruit

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    Hey Liz

    Still waiting for my call back, but i guess I won't be receiving it...

    Scum Bags :mad:
     
  9. michaelG

    michaelG Recruit

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    www.globalfxtrading.com - Investment SCAM???

    Can somebody with experience take a look at this company Global FX Trading Dubai, Managed Your Forex Accounts they cold called me offering an opportunity to open a 30 day trial account for £1000 and after the 30 days if im happy ill have to add £9000 to it.

    They say they will make me up to 18% return per month, 8% sounds a little steep but 18% come on.

    I think they are scammers and warn anyone away from these people.

    Michael G
     
  10. Pharaoh

    Pharaoh Colonel

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    Red flags:

    1. Cold call - an investment as good as this would have no reason to use telemarketing.

    2. 18% per month - impossible to sustain. Demand investor access to a live account that's been achieving this. Then watch the excuses.

    Contact the financial regulators in your country and let them know about this.
     

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