GUILTY Case# 2014-110 | Trader00 vs

Based on the available evidence, do you believe that alphatradingcm is guilty?

  • Guilty

    Votes: 45 100.0%
  • Not Guilty

    Votes: 0 0.0%

  • Total voters
  • Poll closed .


Original FPA Traders Court Submission:

I am submitting the case against:

My Case is: Hello traders.
It upsets me when after all I have been through, after all my efforts people still deal with this fraud company which goes under the name Alpha Trading CM. After I was victimized I did everything I could in the legal field, posted reviews, and wrote countless letters to the company with zero result so far. I didn’t want to open a case here because I thought I could deal with the problem myself. However seeing people still trusting this company with their money like I once did and seeing how forex industry is full of scam and fraud I finally decided to make an input and open a case for your (hopefully fair) judgment.
The case involves a corrupt Forex Broker operating from within the USA.
Phone: 1-617-701-3458
Fred Velez, CEO
Dana O’Keefe, co-conspirator
Alpha Trading CM performed unauthorized trades in my account on New Year’s Eve 2013 that were specifically designed to destroy the entire equity in my account, resulting in a total loss of more than $77,000 of my capital.
I opened a trading account with them in June, 2013. My initial deposit was $10,000. I was unhappy with the trading conditions they imposed upon me right from the start. I decided to, and requested a withdrawal of my funds and the closure of my account, but the company denied this action claiming I was now under an AML investigation that has locked and frozen my assets for 6 months! (Please note that opening to a client that he or she is or might be under AML investigation is a criminal offence by itself).
I am an honest individual trader with 9 years experience, and have nothing to do with any money laundering. I considered this a false pretense designed to prevent me from obtaining the return of my capital. Seeking some resolution, I requested they unlock my account so that during this period of investigation I could at least be permitted to trade, and would accept terms to limit withdrawals to only such profits I could generate, if any. To this arrangement they agreed. And along with that they talked me into investing $10 000 more.
So from June to December 2013 I managed to grow my account from $20,000 to over $77,000. When I sent another withdrawal request to them in late November they again rejected it, stating they would not process it until January 1, 2014.
My final trade for 2013 was placed though my VPS on December 19, 2013, prior to the Christmas and New Year holidays during which I choose not to trade. When I logged into my account on January 1, 2014 I was shocked to find a series of high risk, unauthorized losing trades were performed in rapid succession at false prices, each during the final minutes of trade for the year in extremely illiquid conditions and at an hour when nobody would likely notice. These trades were not generated by my CPU or VPS as the log files I retain prove, and were done without my knowledge or consent and solely for the purpose of wiping out my account.
The series of 6 supposed trades were executed and stopped out sequentially all within one 15-minute period just prior to midnight December 31, New Year’s Eve. Each risked 50% of my account, and after 6 losing trades my balance was reduced effectively to zero. Please see the attachments for precise details. When comparing execution prices against other brokers, these executions can clearly be seen to be fabrications, and do not at all resemble any trades I have, or would ever place.
After discovering this erroneous activity in my account I contacted the company repeatedly by email. They refuse to acknowledge the deals were fake, and accused me of performing them myself. I demanded a thorough investigation be performed and transmission to me of a full accounting, including the IP addresses from which these trades were received. They have not complied with any of my demands for accounting records, correction, restitution, and withdrawal. They continue to deny their participation in this activity. In fact, they have never sent any account statement during the entire period I have had an account with them. To date, I have not received any of my funds, nor have they provided any explanations to my questions regarding the AML investigation, or the fatal executions.
There are at least two other clients that I am aware of that were also victimized by this company:
Mr. Casper, South Africa, see
Mr. Albert Fash, Nigeria.
Here I enclose supporting documents. A print screen, an account statement and a screen shot from alpari with black rectangle indicating were the price was at the time. The red line indicates a price at which they performed those fake deals.
Before pressing guilty or not guilty please study again the unrealistic fake price behavior that occurred and that can be clearly seen from the print screen. Some of you might say that the volatility and spreads differ from broker to broker but check with your own account with any broker and you will see that not only the price was so out of market but I ask you to pay a thorough attention to the price behavior itself (how according to them it moved back and forth 12 times in 15 minutes), not even the rates. If you have any questions regarding this matter please do not hesitate to ask.
Thank you.

p.s. Below attached you will find my own pieces of evidence and I also add files from another person who was victimized.
Please also check videos here:

New thread in the Scam Alerts Folder:

Review is submitted by Askar on 02/12/14

The company was first contacted about the issue on 01/01/14 the last contact was on 05/14/14

Details: There were many meaningless replies. So I will post just the latest one.


Your mt4 account is still opened as you still have a balance there. Our compliance department is looking into your case and has closed your dashboard, upon further review.


Alpha Information


This is a reply on why my account was disabled.

Company representatives' emails: Fred Velez <>
Dana O'Keefe <>



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Here are more files as evidence that AlphaTradingCMis involved in price manipulation


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Yo AsstMod! I spotted a comment from BigT1 on the first YouTube video. Can you grant him access to this thread and invite him in to comment. I'd really like to see more details of his opinion on all the separate issues in this case.
Hello there. It's been quite some time since I filed a case. Can any of the staff members or senior members update me on what is going on please? I read the FAQs and I am guessing the company is not responding, right? Or if there is any other reason for delays could you please update? I appreciate it. Thank you.
Trader00, I know BigT1 is very busy. Can you ask him to drop into this thread.
I contacted BigT and he said he will get to it. I don't know when exactly. So we are just waiting for his input on this matter and only then proceed?
Let me go ahead and ask a couple of questions to clarify a point.

During what they claimed was an AML-related locking of your initial deposit, did Alpha Trading specifically agree that profits could be withdrawn, even if the initial deposit was not withdrawable at the time?

Regarding the second deposit (BTW - Never give more money to a broker during a dispute over funds), did they say if it could be withdrawn or not while the claimed AML investigation of your initial deposit was still underway?
1. Yes, it was confirmed by Dana O'Keefe - Director of Operations at the time. There must be a record in our direct Skype conversations about that. If my word is enough then ok, because it will be difficult to go through Skype log, though not impossible.
2. The topic of withdrawal of the second deposit of 10k wasn't touched upon with. I guess I was stupid to believe that I could. They were very friendly with me (management: Dana O'Keefe and Fred Velez). They told me that they are on my side. For instance Dana O'Keefe told me that he was on a meeting with compliance where he convinced compliance to unlock my account for trading.

And another thing. I wasn't even thinking about withdrawal myself (until November-December 2013) because they told me that they like how I perform and want to show potential investors my account. So I was trying to make a good track record, obviously needed every penny reinvested in order to increase lots to show a good yield curve. Only when I reached certain point in money terms I decided that a withdrawal of 5k will not hurt the performance so I sent a withdrawal request to them and then it all happened.

p.s. here is a link to a page that they created on their web site about my system. It is weird but it is still there. Not sure if the text is still original though. Alpha Managed Fund 1 | AlphaTradingCM . There was also a link to my account to Myfxbook, but the next day after manipulations they made it private.

p.p.s. There is an email from them that sais that my request will be processed on January,1. But like I described and showed on print screen, you can see what happened on December, 31.
Found a Skype transmission about what you asked. Here it is

[23.07.2013 22:22:45] Askar Shomayev: I have liquid cash issues here with money commited to couple of long term deals with my bank. I have those 10k we talked about but I really need to clarify couple of issues with you first
[23.07.2013 22:23:35] FOREX Investments another 10k for that other account I opened for you?
[23.07.2013 22:24:08] Askar Shomayev: Remeber I had my account flagged. I understand that. Most of the brokers have same policies but as I will be needing a fast acces to cash I need to find out for certain couple of things
[23.07.2013 22:24:22] Askar Shomayev: Yes I wanted to fund anoyther 10 k to this account as we talked
[23.07.2013 22:25:45] Askar Shomayev: As I undersnad if its been only couple of weeks and I want to withdraw all the money it raises questions. But can you guarnatee that I will be withdrawing profits without any problems? I don;t my money frozen if you know what I mean))
[23.07.2013 22:26:30] Askar Shomayev: As I said I have a liquidity issues and hope to withdraw profits from time to time
[23.07.2013 22:26:38] FOREX Investments understand
[23.07.2013 22:26:54] FOREX Investments They will let you withdraw profits
[23.07.2013 22:27:37] FOREX Investments and will let you withdraw your total account but i think the issue was what you stated before