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Managed Account Question - Courtenay House Trading Group

Discussion in 'Has anyone heard of?' started by Guacamayo, Oct 8, 2016.

  1. Guacamayo

    Guacamayo Private

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    I have a question in regards to a Forex account management company based out of Sydney, Australia that I have been with for the past year (I'm not posting their name due to potential legal issues).

    The company has a physical office in Sydney, Australia, with a staff of approximately 10, around half of whom are traders. They have been operating for the past 4 years. They offer three monthly trading categories: 1.5% potential monthly profit, while risking 4.5% of capital; 4% potential monthly profit, while risking 10% of capital; and 7% potential monthly profit while risking 14% of capital. The minimum amount needed to open an account with them ranges from 50K for the 1.5% package, to 300K for the 7% package. Also, when someone new signs up they have their capital placed into separate pools within each category. Every monthly trading category consists of 5-8 groups of such pools.

    My main issue with them is that although they state in their contract that you are risking 10% of your capital per month, I have only been receiving steady profits, without once experiencing a losing month. I also have acquaintances who have been with them for 2 years and they also state that they have been receiving consistent monthly profits without once having a losing month. These people are in separate groups (within the same monthly trading package) which tells me that out of the approximately 7 groups in the same trading category as myself, 2-3 have been receiving consistent monthly profits over 2 years without a single losing month.

    When the company started up they did initially have an incentive program to get existing clients to bring in new clients, by giving the existing clients a cut of the new clients' profits. However, this has recently been stopped. They have also made it more difficult for new clients to access the categories that offer bigger returns by making the minimum capital investment amount larger. I think this may be due to the company's expansion since they have increased their staff numbers over this past year.

    They also started up a Forex long-term investment package last year which has lost approximately 50% of its value over the past year. This made me wonder how a company that shows consistent monthly losses in its new long-term Forex investment package is able to pay out its clients consistent monthly returns. I do understand that one is long-term and the other based on short-term trading results, but I figured that they should still show better performance results.

    My question to Pharaoh and anyone else who is acquainted with the world of managed Forex accounts, is how suspicious should I be of this company and what questions should I be asking of them to make sure that this operation isn't a potential scam.
     
  2. Guacamayo

    Guacamayo Private

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    I should mention that if anyone wants the name of the company they can PM me, and then they can publicly post the name of the company if they so wish. Just as long as I'm not the one disclosing the name of the company, since most of those details that I mentioned can only be obtained after signing a contract with them.
     
  3. Pharaoh

    Pharaoh Colonel

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    The fact that they won't publicly reveal such details until you've invested is a HUGE warning flag in my book. Before putting a cent in, one should be able to see how a live account is doing in real time and all the terms.

    Can you see the trades? If you can't see them as they happen, you have no way to be sure they are real.

    Physical offices are nice, but are not an assurance of the reality of the investment plan. More than one Ponzi and other styles of investment plan have had offices. Are they ASIC registered?

    PM me the name so I can do a little more research.
     
    RubixFX likes this.
  4. Guacamayo

    Guacamayo Private

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    I've PM'd you the company's details and you can post them here if you want.

    As for the trades, no you cannot see the trades, but then again I've never asked.
    At the end of every month they send an email to all the pooled members of each group, telling them whether or not that group has reached its profit target of 1.5%/4%/7% for the month. No details are given on the types of trades taken. But as I mentioned before, I've never specifically requested information about the trades and so I can't confirm or deny their existence.

    When I signed up I didn't even know that that sort of fund management company is referred to as a Forex account manager, and when I asked they just told me that they were fund managers who traded in the derivatives and Forex markets.

    I've tried searching the ASIC website to confirm if they are indeed ASIC registered, but I keep receiving an error (perhaps there's a problem with the website). I'll ring them later to confirm, but I do vaguely remember them saying that they were registered with ASIC.
     
  5. Guacamayo

    Guacamayo Private

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    Just so everyone knows, the company's name is Courtenay House Capital / Courtenay Trading House. I checked on my contract and as long as I'm not disclosing any specifics of my contract, then I shouldn't be infringing any contract laws.

    I checked on the ASIC website, and their new investment fund is registered on ASIC, but I haven't found out about the company itself.

    Also, the ASIC website listed the former names of the their new investment fund (the new investment fund isn't actually all that new as it turns out, it's simply had a new name change as of 2015) as follows:

    D&D GLOBAL MARKETS FUND
    GNS HILLIER FUND
    GNS COMPOUNDING FUND
    BRIDGE-WAY CAPITAL AUSTRALIAN EQUITY FUND
    THETA CAPITAL PROTECTED FUND
    KRH CARNEGIE INVESTMENT FUND
    HALIFAX INVESTMENT FUND

    If any of those names sound familiar to anyone then I'd be very interested to find out some more information.
     
  6. parichy

    parichy Recruit

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    i think managment account companies are fake because when you loss they disappeare.
     
  7. Pharaoh

    Pharaoh Colonel

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    I worry about any company which isn't fully upfront with terms and a prior track record.
     
  8. MarryLo

    MarryLo Recruit

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    i don't think without mentioning the company's name that it's possible to understand if the question is exact and appropriate. For the time being we only see words, and we need proof that this is a fact. You can address the regulator, but I'm not sure that that will give a result.
     
  9. Guacamayo

    Guacamayo Private

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    I mentioned the company's name a few posts above. It is Courtenay House Capital / Courtenay Trading House.

    Also, in response to Pharaoh what exactly is it about not being fully upfront with their terms on their website that makes you worry about them? Just so I can understand the reasoning. They do disclose all the terms that I mentioned prior to signing any contract (just not specifics on how many times each pool has had a profitable month), but all these terms are communicated either over email, the phone, or in person. But as I mentioned, I did not ask any specific details of them such as seeing their trades, what their drawdowns are, etc.

    I know in another thread that Pharaoh mentioned that one should be very careful with any Forex management funds that place your money into pools (which is how this one operates).

    Also, just as a brief update, they are slowly getting rid of their 7% monthly profit category (with 14% risk). They have also sent out a questionnaire to their clients asking how many more months/years they expect that the company will be paying out monthly profits and if they would leave the company if profits ceased coming in regularly. Any thoughts on how this move should be interpreted? Perhaps a sign that they're either tightening their risk-taking measures or are in some financial difficulty?
     

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