efa-FX
Private, 1st Class
- Messages
- 40
Any relation with HonestFxSignals (Tony J. Lazzaro)?
-
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Info on broker: BankDirectFX
- Thread starter RussG
- Start date
-
- Tags
- bdfx bank direct fx
nakachalet
Recruit
- Messages
- 10
i have asked nick several times, just a simple question--which u.s. based financial institutions do you use for clearing?
most fx so-called proprietary trading companies use overseas clearing for many shady reasons than serious traders wish to know.
for myself, if a company can not use the u.s. based clearing houses which there are many, that in more way than one, shows that--that
particular company could not meet the financial standards required by the clearing houses. therefore, overseas, like australia, they go and hide deeper.
and that means CAUTION my trading friends.
i do not mean to disparage any fx company, any individual, any highly esteemed trader of any fx funds or fx funds manager or anyone legitimately associated with any profitable fx operaton and company.
i always humble ask myself--if a person is profitable and consistently so, why is there any reason to beat the drum attracting uncalled for and undue attention.
everyone here and every aspiring fx or other trader ought to exercise due diligence to the extreme.
outstanding spreadsheet that every chief trader relied on so much trying to pry your money, as everyone knows; does not worth a dime under any name and by anyone.
ANOTHER QUESTION that i asked that no proprietary trading firm would want to respond to is--
just show me your live trading screens for a few days and i'll be more than convinced of your performance
and pay you whatever you ask, based on your live on screen and not on your spreadsheet performance.
to this request and question, there are even more chief traders and their corporate objections than anyone
could ever image, citing privacy and federal rules and regulations about past performance....
yes, y'all, i know, trading is tough, and forex trading is just as difficult if not more so, so pls do not fall prey....
pls everyone, do your own due diligence to the n-th power, before sending them a few thous alright?
best wishes to everyone
most fx so-called proprietary trading companies use overseas clearing for many shady reasons than serious traders wish to know.
for myself, if a company can not use the u.s. based clearing houses which there are many, that in more way than one, shows that--that
particular company could not meet the financial standards required by the clearing houses. therefore, overseas, like australia, they go and hide deeper.
and that means CAUTION my trading friends.
i do not mean to disparage any fx company, any individual, any highly esteemed trader of any fx funds or fx funds manager or anyone legitimately associated with any profitable fx operaton and company.
i always humble ask myself--if a person is profitable and consistently so, why is there any reason to beat the drum attracting uncalled for and undue attention.
everyone here and every aspiring fx or other trader ought to exercise due diligence to the extreme.
outstanding spreadsheet that every chief trader relied on so much trying to pry your money, as everyone knows; does not worth a dime under any name and by anyone.
ANOTHER QUESTION that i asked that no proprietary trading firm would want to respond to is--
just show me your live trading screens for a few days and i'll be more than convinced of your performance
and pay you whatever you ask, based on your live on screen and not on your spreadsheet performance.
to this request and question, there are even more chief traders and their corporate objections than anyone
could ever image, citing privacy and federal rules and regulations about past performance....
yes, y'all, i know, trading is tough, and forex trading is just as difficult if not more so, so pls do not fall prey....
pls everyone, do your own due diligence to the n-th power, before sending them a few thous alright?
best wishes to everyone
Barry Donaldson
Recruit
- Messages
- 1
PrimeFundFX Scammed Me
I joined PrimeFundFX Aug 1 2013. The first month was great with a 600.00 increase in my 3000.00 account, with a drawdown sitting at about 150.00. However, after that initial month, things changed. The account balance increased to 4600.00 with the drawdown increasing to about 1700.00, basically retracing all the gains of August. I sent Lucas several emails about the large drawdown, and he responded about aggressive trading. I should mention that the number of lots traded for all open positions ranged from .01 to 1.3 lots, with some positions being held for well over 2 months.
Late last week, I indicated that I was not going to watch my account disappear and that I was prepared to terminate the LPOA and take control of my own account. That very night all hell broke loose. At 0235 Oct 18, 2013 three separate positions of 2.60 lots each selling the AUD/USD were opened All 3 positions were closed at 0546, about 3 hours later, with losses of 306.80 per position for a total loss of 920.40. not bad for 3 hours, right. Well the worst was yet to come. At 0547, a further 3.80 lots selling the AUS/USD was opened. This position was closed at 0550, with a loss of 554.80. This position was held for 3 minutes. A total loss of 1475.20 in a little over 3 hours.
After that, all positions were closed liquidating the large drawdown. My account balance went from 4600.00 to 1277.00 in about 3 hours.
There are a couple things to keep in mind here. First, this is supposed to be a hedge trading program. These positions were not hedged. They were entered naked and without stops. Second, these sell trades were entered on the AUS/USD which has been in a very clear uptrend for the last 2 weeks, at least. In fact I have an indicator attached to my chart and it gave a buy indication on Sep 30 and it has not been reversed.
I have a strong suspicion that PrimeFundFX and BankDirectFx are in some sort of cahouts and this was the methpd used to, not only, wipe out my profits, but also my account balance. I can`t prove it, but at least the trades made by PrimeFund FX are very suspicious.
It also shows how they calculate their very large returns. Lucas kept telling me that my account had gained about 40%. He only used the account balance and kept saying that the large drawdown was irrelevant. It is not hard to make massive gains if you ignore all the open tades that are losing money.
This is a pretty long message, but if it saves one other person from getting scammed by these guys, it is worth it. If you have any further questions, you can email me directly at bld23ca@yahoo.ca
thanks, Barry Donaldson
I joined PrimeFundFX Aug 1 2013. The first month was great with a 600.00 increase in my 3000.00 account, with a drawdown sitting at about 150.00. However, after that initial month, things changed. The account balance increased to 4600.00 with the drawdown increasing to about 1700.00, basically retracing all the gains of August. I sent Lucas several emails about the large drawdown, and he responded about aggressive trading. I should mention that the number of lots traded for all open positions ranged from .01 to 1.3 lots, with some positions being held for well over 2 months.
Late last week, I indicated that I was not going to watch my account disappear and that I was prepared to terminate the LPOA and take control of my own account. That very night all hell broke loose. At 0235 Oct 18, 2013 three separate positions of 2.60 lots each selling the AUD/USD were opened All 3 positions were closed at 0546, about 3 hours later, with losses of 306.80 per position for a total loss of 920.40. not bad for 3 hours, right. Well the worst was yet to come. At 0547, a further 3.80 lots selling the AUS/USD was opened. This position was closed at 0550, with a loss of 554.80. This position was held for 3 minutes. A total loss of 1475.20 in a little over 3 hours.
After that, all positions were closed liquidating the large drawdown. My account balance went from 4600.00 to 1277.00 in about 3 hours.
There are a couple things to keep in mind here. First, this is supposed to be a hedge trading program. These positions were not hedged. They were entered naked and without stops. Second, these sell trades were entered on the AUS/USD which has been in a very clear uptrend for the last 2 weeks, at least. In fact I have an indicator attached to my chart and it gave a buy indication on Sep 30 and it has not been reversed.
I have a strong suspicion that PrimeFundFX and BankDirectFx are in some sort of cahouts and this was the methpd used to, not only, wipe out my profits, but also my account balance. I can`t prove it, but at least the trades made by PrimeFund FX are very suspicious.
It also shows how they calculate their very large returns. Lucas kept telling me that my account had gained about 40%. He only used the account balance and kept saying that the large drawdown was irrelevant. It is not hard to make massive gains if you ignore all the open tades that are losing money.
This is a pretty long message, but if it saves one other person from getting scammed by these guys, it is worth it. If you have any further questions, you can email me directly at bld23ca@yahoo.ca
thanks, Barry Donaldson
onlinediscuss
Recruit
- Messages
- 2
BankDirectFx is absolute scam
BankDirectfx is absolute scam. These scammers had become even smarter and advanced. They open their own fx broker and use the PAMM to suck out your money. Logically, the scam of PrimeFundFx tells us a very clear story. PAMM and fx broker work hand in hand to scam investors' money. In fact, I believe they are in the same gang.
They are really smart to avoid any legal aspect of the scam they conduct. They use PrimeFundFx as the third party so that BanDirectfx will be free of any legal issue.
It is really amazing to see how the scam in Forex retail world has evolved.
BankDirectfx is absolute scam. These scammers had become even smarter and advanced. They open their own fx broker and use the PAMM to suck out your money. Logically, the scam of PrimeFundFx tells us a very clear story. PAMM and fx broker work hand in hand to scam investors' money. In fact, I believe they are in the same gang.
They are really smart to avoid any legal aspect of the scam they conduct. They use PrimeFundFx as the third party so that BanDirectfx will be free of any legal issue.
It is really amazing to see how the scam in Forex retail world has evolved.
odysseus11
Private, 1st Class
- Messages
- 46
Very sad and very true, but it isnt really the same "gang" its really the same one guy, Ryan O Rourke, living in his moms basement in Carolina I think it was - all the data is here in the thread. And now after all of his nonsense people ARE beginning to feel the tail end effects of the scam, which of course was inevitable, it was in fact planned - he is *so angry* that we blew it up somewhat and likely scared off some of his would-be victims - wish we could have warned ALL of them. Anyway, I have also been receiving PMs from others feeling the effects of the scam is it winds down and their money is lost - again, predictable but sad, please all victims please consider opening a scam report and also contacting the authorities in belgium and the NFA/CFTC because Ryan belongs in Jail.
efa-FX
Private, 1st Class
- Messages
- 40
I strongly underline the importance for victims to react to odysseus11's advice! The FSMA will not investigate if they do not receive complaints!
Contact us - website FSMA
Forexsleuth
Recruit
- Messages
- 1
The first indications that not all was good with this company was in the Australian Securities and Investment Commision
website https://www.moneysmart.gov.au/scams/companies-you-should-not-deal-with
Here bankdirectfx has been direct calling Australian residents without the required liscence. This is a fair giveaway that
this could be a fraudulent organisation. I say COULD be.
The next step was to run the website through scamadvisor.com
The result was a 100% trust score with the domain age being 11 Years, 115 Days
However why was the first review on forexpeacearmy.com was 4th September 2003?
So I did a check on them using the followink link bdfx.com - bdfx book binding photography camera lens fx Resources and Information. This website is for sale!
This showed that on February 2013 the domain was for sale and bankdirectfx as a forex broker did not exist yet. Not even 1
year let alone 11 years 115 days.
Still not proof of any meaningful desire to deceive.
Lets keep digging a bit further shall we?
The clincher comes on this page of their website https://www.bdfx.com/direct-interbank-access.html
Here they claim that their primary mt4 server is located London, UK and the secondary server located at Ny USA REALLY???
Sorry guys but that is an out and out lie. I downloaded their platform and navigated to where the server files are located
C:\Program Files\BankDirectFX MetaTrader 4\config and opened the live srv file ... the following IP address
(176.124.191.149:443)is the primary and ONLY live server. I entered that ip address into the following
IP Address Locator - Enter an IP address to find its location - Lookup Country Region City etc and voilla WARSAW POLLAND is the location of
their ONLY server. Not London or New York or any where near the "Equinix LD5 and NY4 data centre facilities located in
London and New York City" as claimed on thier website.
No your hard earned money is residing on a Laptop somewhere in Warsaw!!! Bugger all slippage there!!
My advise get your money out NOW. Do not invest one cent with this bucket shop. You have been warned..
Pharaoh
Brigadier General
- Messages
- 20,308
You've got 2 IPs there.
176.124.191.149
180.150.144.201
Geolocation is not an exact science. 176.124.191.149 shows as being in Poland on Geobytes, bit shows up as being with PrimeXM.com in the UK on MaxMind.
180.150.144.201 shows as Altay, China in Geobytes and as a Rackspace hosted server in Hong Kong on MaxMind.
That list of unlicensed companies soliciting in Australia is interesting. Here's the direct link for BDFX:
https://www.moneysmart.gov.au/scams...ith/unlicensed-companies-list/b/bankdirect-fx
If BDFX was really dealing with high net worth institutional clients until recently, why would they lower themselves to unsolicited advertising?
176.124.191.149
180.150.144.201
Geolocation is not an exact science. 176.124.191.149 shows as being in Poland on Geobytes, bit shows up as being with PrimeXM.com in the UK on MaxMind.
180.150.144.201 shows as Altay, China in Geobytes and as a Rackspace hosted server in Hong Kong on MaxMind.
That list of unlicensed companies soliciting in Australia is interesting. Here's the direct link for BDFX:
https://www.moneysmart.gov.au/scams...ith/unlicensed-companies-list/b/bankdirect-fx
If BDFX was really dealing with high net worth institutional clients until recently, why would they lower themselves to unsolicited advertising?
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