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Mulder Venture

Discussion in 'Has anyone heard of?' started by Dermolikesprofit, May 12, 2010.

  1. Dermolikesprofit

    Dermolikesprofit Sergeant

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    Hello FPA members,

    I found this Company Mulder Venture, (www. mulderventure.com) who manage forex accounts and have a hedge fund account. They seem to be based in the Netherlands, Amsterdam and the founder says,

    "He studied Financial Services Management at the Hogeschool van Amsterdam, University of Applied Sciences. started his career in finance at DEX Options and ABN AMRO Bank and has gradually built his way into currently owning several financial companies.
    Throughout the years in finance he has gained substantial experience in financial markets in general and has specialized in equity markets and currency trading in particular.
    The daily operations of Mulder Venture are in the hands of Byung Koo Mulder. He manages the company and is head of a small team."

    Their hedge fund account was set up last June and to date has returned 324% 0n a 50k live account, on their site you can click a link to see their trading results so far from a broker ACM in Switzerland.
    The minimum entry is 100k euro or equivalent now and charge 30% for ROI of 0%-50%, 40% for a ROI of 50%-150% and if ROI is >150% managment fee will be 50%. But then who wouldn't be happy to pay if you could get returns like that.

    They also have an entry Managed Forex Account that has an entry from 5K euro. It is Limited Power of Attorney Account through their partner ACM.
    They have had good returns so far this year around 42%.


    If anyone has dealings with this company I would certainly like to hear your experiences.
    I am just trying to do some due diligence before I make any investments in any company, almost got burnt before but was lucky at the last minute on a bogus HYIP. Please do not get me wrong I am not trying to discredit a decent company here, as many posts seem to do, just like to find out other peoples views

    Thanks for your time and good luck with your trading or investing!
     
    #1 Dermolikesprofit, May 12, 2010
    Last edited: Jun 8, 2010
  2. MMMMM GGGGGG

    MMMMM GGGGGG Recruit

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    Strong Discourage Investment with Byung Koo Mulder

    DON'T INVEST WITH BYUNG KOO MULDER OR MULDERVENTURE.COM

    Byung Koo Mulder lost $155,000 out of $300,000 I invested with him from February 1, 2010 – June 6, 2010. He lost this money by placing a big bet that the foreign exchange market was wrong about the Euro. Byung Koo Mulder thought the Euro would increase in value at a time when commentators across the world kept saying the Euro was in trouble and would be in trouble for some time to come.



    When I questioned Byung Koo Mulder’s strategy with my account and the Mulder Venture fund, he became all emotional. The last thing a trader should be is emotional about his trading position. A good trader will be cool and calm, and willing to cut his losses. That was NOT my experience with Byung Koo Mulder or mulderventure.com.

    Aside from being emotional, he crossed the line into unprofessional behavior. Byung Koo Mulder threatened to stop trading my managed account and leave me with dozens of open foreign exchange futures positions all subject to margin calls. I had never traded FX futures before and could not have recognized key terms of the FX contracts from their cryptic names. Read Byung Koo Mulder's letter below and judge for yourself:

    From: Byung Koo Mulder [mailto:byungkoo.mulder@mulderventure.com]
    Sent: Saturday, May 29, 2010 5:59 PM
    Subject: Re: question about a new trade

    Dear Michael,

    Thanks for your email.
    I'm really consider to stop my service
    .
    Managed Accounts are I trade for my clients with my opinion and view on the markets. That's Managed Accounts and now we are on speaking terms, you interfere my trading. I respect your view and also don't happy about the performance. You could criticize me, totally understand. Only we now on breaking point, you believe me, I will restore the account balance or you don't believe it and I closed all positions or deactivate your account and you could trade FX with your view on EUR/USD. I have explained the last weeks everything and I think all of my other clients are confident to restore the drawdown in trading balance.

    It's possible EUR/USD will drop to 1.20, but also a chance the answer is no. So if you short EUR/USD at 1.22 and hope see 1.20, you will short more than 600'000 EUR/USD for a little bit of profit. That's 12'000 USD. So that don't will restore your account.

    EUR/USD next week, maybe one time to support level of 1.2150(possible) but further higher.

    Last note: margin call is above 6%.

    Please think about it and we will talk on Monday.
    Best regards,
    Byung Koo Mulder
    Investing in Forex | MulderFX.com


    So what Byung Koo Mulder threatened to do was walk away from the job and leave me stuck holding dozen of open FX futures contracts, which I had never traded before. That is equivalent to an auto mechanic walking off a job once he has torn apart a car engine, but before he reconnects the parts. Alternatively, it is comparable to a lawyer abandoning a client in the middle of a court room trial, with two or three days remaining on the trial. Such unprofessional behavior deserves a significant punishment. In my opinion, his license to serve as a fund manager should be revoked.



    But what can an American do? I am in the USA, and Byung Koo Mulder is trading FX currencies for my account held in Switzerland. The Swiss financial regulating authority most likely would not care. They would incorrectly assume I was upset about trading losses, when the gist of my complaint concerned highly unprofessional conduct.

    What is more, mulderventure.com and Byung Koo Mulder's returns shown for the Mulder Venture Fund are very deceiving to me. I had a net loss in my account with Mulderventure.com in each month: February, March, April, May, and June 2010. Yet the charts on the mulderventure.com web page make it appear as if Byung Koo Mulder was earning profits on his funds in each of those months. I asked about the difference. He said it was because he had pre-existing futures positions in his account that paid off in February, March, April, etc., that I would not have in my account, because I joined the fund around February 1, 2010.

    In America, when an investor buys into a mutual fund, he is taking a small piece of equity in the entire fund. If the fund goes up 10% the next month, the investor expects to see a 10% return in the value of his own account that next month. But not so with Byung Koo Mulder. A new investor could not duplicate the returns shown on the Mulder Venture.com web page, because he or she would not have all the prior future positions in his or her account.

    After leaving mulderventure.com, I decided I would never again invest with any fund manager who tried to predict the movements of foreign exchange (FX) markets and outsmart the markets. I can just hear Byung Koo Mulder saying "FX markets very dumb, Byung Koo Mulder very smart." To me that strategy is like a ticking time bomb just waiting to explode. I would much prefer to have my funds invested in programmed trading that go in and out of the currency markets dozens of times each day based on technical conditions in the market, but which completely remove the human element so prevalent in Byung Koo Mulder's strategy of trying to outsmart the market.

    I would strongly advise any American investor, and any non-American investor for that matter, to avoid trading or investing with Byung Koo Mulder or mulderventure.com

    If you wish to ask specific questions, please send me an email message using the button located on the main domain page on this website. Please put "Byung Koo Mulder opinion" in the subject line of your message.

    TWO UPDATES FOR MARCH 2011: Another person involved in investing in the Netherlands wrote me. You can check out his link here: Ed Kiers | LinkedIn He told me people like Byung Koo Mulder give the financial world a bad name. Why would Ed Kiers say that about a colleague in the investing community? Don't just take my word for it, contact Ed Kiers.

    Second update, Byung Koo Mulder wrote me on March 10, 2011, and said the broker ACM will no longer trader my account. I closed my account after this huge loss, but I find it strange that ACM claims to be an independent brokerage firm that has even been purchased by a company with a Swiss banking license -- yet ACM allows Byung Koo Mulder to decide who can and cannot hold an account at ACM? That seems very strange to me indeed. In the USA, this kind of nefarious connection between a trading firm and a bank, where the trading firm can blackball a client at the bank would seem to violate banking law. ALL OF THIS CONFIRMS WHAT I HAVE SAID ELSEWHERE, DO NOT INVEST WITH BYUNG KOO MULDER UNLESS YOU WANT TO WORK WITH A SPITEFUL, PETTY, ARROGANT TRADER!!!
     
  3. MulderFX

    MulderFX Recruit

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    Story from the other side

    We are transparent and I don't discuss here that the losses are not true. Indeed in May last year we believed that the EUR/USD from 1.20 level the movement was up. After two months we saw 1.42.
    We publish every detail about our return on our website Investing in Forex | MulderFX.com.
    Also when the return is bad, like in 2010, but in 2009 en 2011 the returns are very good.

    The setting is totally different/the half of the story, what the previous review doesn't say and doesn't publish is that he at least every day in that period send an email, sometimes three a day and that we had several skype calls. In every conversation we told him again that we believe in our strategy and that there could be volatile times in Forex trading.
    After 2/3 weeks of correspondence about this, we decided to give him a choice. Read CHOICE: Or you believe in our strategy or trade on your own or close your account. We told him again that we believe in our strategy and after two months EUR/USD indeed rallied. But after maybe 20/25 conversations, the client still didn't believe us. It was the client own decision to stop not ours.

    About Ed Kiers, I have contact him about this, because it is very strange indeed. He worked for me but after a bad result at work we decide to fire him.

    About ACM and not accepting him als client, again, half story. ACM has been taken over by Swissquote last year. Because of all bank licencies and other rules about the SNB, no American can be client through a money manager by ACM. Not only this client, all americans.

    ACM didn't accept this client because of the SNB regulation, we do not have an effect on who ACM accepts as a client.

    For all clients who would like more information, please contact us. We still have all email correspondence with the previous client. Only we decided that we do not publish private emails on the internet.
     
    #3 MulderFX, Mar 14, 2011
    Last edited: Mar 14, 2011
  4. Dijkstra

    Dijkstra Recruit

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    van Tobias Dijkstra
    aan Mulder FX <info@mulderfx.com>
    datum 14 maart 2011 11:30
    onderwerp Betr: Quitte
    verzonden door zenway.com

    details verbergen 11:30 (13 uren geleden)



    Beste mensen,

    Momenteel speel ik ruim quitte met mijn investering in de Managed Account FX van u.
    Van harte proficiat.

    Groet,

    Tobias Dijkstra

    an Mulder FX <info@mulderfx.com>
    aan Tobias Dijkstra
    datum 14 maart 2011 17:01
    onderwerp Re: Quite
    Afbeeldingen van deze afzender worden altijd weergegeven. Vanaf nu niet meer weergeven.

    details verbergen 17:01 (7 uren geleden)

    Beste Tobias,

    Bedankt voor je bericht. Wij zijn zeker tevreden over de recente resultaten, alleen we willen dit natuurlijk graag voortzetten.
    Bedankt voor het vertrouwen in ons, ook na vorig jaar. Laat 2011 in zijn geheel een mooi jaar worden.

    Met de bijstorting zal rekening worden gehouden met de performance fee berekening. We houden alleen performance fee in over het netto gerealiseerde rendement.

    Mocht u een positieve recensie willen achter laten op internet over resultaat en/of contact met Mulder FX, dan kunt u dit doen op de volgende websites:
    MulderFX Discussion | Myfxbook
    http://www.forexpeacearmy.com/forex-forum/has-anyone-heard/9922-mulder-venture.html

    Bedankt voor uw medewerking en mocht u nog vragen hebben dan horen wij dat graag.

    Met vriendelijke groet/Kind regards,

    Byung Koo Mulder
    Directeur Mulder FX

    Herengracht 442 T: (+31) 20 820 23 76
    1017 BZ Amsterdam
    I: Investing in Forex | MulderFX.com
    E: bkmulder@mulderfx.com

    Mulder FX

    ------------------------------------------------------------------------------------------------------------

    Dit bericht (inclusief de eventuele bijlagen) is vertrouwelijk. Wanneer u dit bericht ten onrechte heeft ontvangen, dient u de afzender hiervan onmiddellijk per kerende e-mail op de hoogte te brengen en dit bericht te verwijderen uit uw systeem. Elk onbevoegd gebruik en/of onbevoegde verspreiding van dit bericht is niet toegestaan. U wordt erop gewezen dat e-mail berichten aan wijziging onderhevig kunnen zijn. Mulder Venture B.V., statutair gevestigd te Amsterdam en ingeschreven in het handelsregister van de Kamer van Koophandel onder nummer 34348408, is niet aansprakelijk voor de onjuiste en onvolledige overdracht van de informatie in dit bericht noch voor mogelijke vertraging in de ontvangst van dit bericht of schade aan uw systeem als gevolg van dit bericht. Mulder Venture B.V. staat er niet voor in dat de integriteit van dit bericht behouden is gebleven noch dat dit bericht vrij is van virussen, niet is onderschept of vatbaar is geweest voor tussenkomst (door derden).

    ------------------------------------------------------------------------------------------------------------

    This message (including any attachments) is confidential and may be privileged. If you have received it by mistake please notify the sender by return e-mail and delete this message from your system. Any unauthorised use or dissemination of this message in whole or in part is strictly prohibited. Please note that e-mails are susceptible to change. Mulder Venture B.V., which has its seat at Amsterdam, the Netherlands, and is registered in the Commercial Register under number 34348408, shall not be liable for the improper or incomplete transmission of the information contained in this communication nor for any delay in its receipt or damage to your system. Mulder Venture B.V. does not guarantee that the integrity of this communication has been maintained nor that this communication is free of viruses, interceptions or interference.

    ------------------------------------------------------------------------------------------------------------


    Bespaar papier - tenzij hiervoor anders vermeld- is het niet noodzakelijk deze mail te printen. Don't waste paper- before printing this email- think about the necessity thereof.
    Twitter Latest tweet: While EUR/USD holds above the short-term support line at 1.3855, it can return to last Monday's high of 1.4040, says Societe Generale.
    Follow @MulderFX Reply Retweet 12:43 Mar-14
     
  5. Dijkstra

    Dijkstra Recruit

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    Good experience with Mulder FX Managed Accounts

    I gave Mulder FX a chance to change their trading policy after the results in the autumn of 2010 were bad.
    I invested some extra money they asked for.
    I think you have to trust people. Of course control and transparancy is the best. I know this. But the basic, almost religious principles like loyalty and trust are important.
    People gain confidence then and are going to work for you.
     
  6. Jay Glazer

    Jay Glazer Recruit

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    In investing not everyone's experience will be the same but there are some facts you just cannot deny....here is a sequence of events. Make your own summation;

    1. After Mulder's 1st losing mth of 2010 (-26%) he started off June’s return on a new page for reporting thereby removing the -26% return from easily being seen.
    2. The rest of 2010 saw a series of poor performances. However he did not report Dec (-42.8%) and 2010's (-77%) return until the 2nd wk into Jan ’11. Prior to this he reported daily and normally promptly at month's end! The same day he posted Dec and 2010’s return he shifted his performance tracking pages for the 2nd time by reporting by calender yr which meant he removed 2010’s return (-77%) from being the first reporting page you will see. You had to access the archive returns to view it.
    4. His typical wkly/mthly commentary for Dec was also delayed with the returns as he posted it along with Jan’s first wkly commentary (which was up) which effectively buried the commentary addressing Dec and 2010's return. To see Dec’s commentary you had to go into the archive.
    5. He started off 2011 with a new starting balance of $5000 (whatever happened to the quest for 1 million??) for 2011 but still reports overall returns from inception – i.e. incl. 2009 & 2010.
    6. He religiously posted performance 2x daily for 2011 (which saw a +35% for Jan & 39% for Feb) and began also posting those returns on his homepage in March. March was up as much as close to 30% but it fell down and had a updated return of -14% a wk ago - then he stopped reporting the daily returns on his homepage and began posting the YTD return - which incl Jan & Feb’s good returns.
    7. After the fallout of the YEN last wk there was no update for a few days until today (Wed's 23rd) and which currently is down almost 70% for March alone!

    You can make your own call and I am sure he cannot 'adjust' the wheels as he sees fit for his existing clients but for those tracking him it is obvious that he is manipulating his reporting tactics.

    I am curious to see how long they go before playing scrabble with the posted returns again.
     
  7. MulderFX

    MulderFX Recruit

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    Transparency

    @Jay Glazer

    Thank you for your post.

    First of all we are totally transparent in our communication to our clients.
    We dont scrabble with our returns like other people sometimes do.
    If we would scrabble with returns, I think we wouldn't post a loss of -70%.
    Indeed because of a movement of the YEN. Its very normal that if something like that happens, first we inform our clients by email and/or letter. Thats is exactly what we did.

    In December, the last two weeks, we indeed did not reported the return. These weeks, for most people around the world, are busy times and holidays.
    Begin of January we posted it immediately.

    We have a small team here so sometimes yes, we don't post it immediately.
    After two months of very good returns, now indeed worse after YEN movement.

    Bottom line, bad return yes but accuse us for manipulation? Totally untruth. You are not a client, so you don't know what kind of communication we have with our clients. And beside return, a lot of our clients appreciate our transparency.
     
    #7 MulderFX, Mar 31, 2011
    Last edited: Mar 31, 2011
  8. Jay Glazer

    Jay Glazer Recruit

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    Please read my post carefully - I have never addressed how you report to your clients as you are correct I am not one of them so I cannot speak on this. However there seems to be more than just a language barrier here though as I am aware English is not your first language…I have never accused you of manipulating returns as you are suggesting I am. If you read my post properly or ask someone who is familiar with the English language to read it for you I accused you of manipulating the way you report the returns. And this is confirmed today as once again you have changed the way you report the most up to date return on your homepage. You are down over -50% YTD but it is probably bad for business to showcase this figure and so you have changed to reporting by month (which is -5% for April thus far) instead of YTD.
    My issue is not your how you report to your existing clients my issue is how you are attempting to attract new clients with claims of transparency when your method of posting returns is being juggled to what works best for you. In case you are not aware transparency also involves choosing one method of reporting – either updated YTD or monthly returns and sticking to it regardless of how the results pan out. You say that in Dec people were busy which is why you posted late and when the YEN crashed you were consumed with managing your clients during that fallout. However these are 2 examples of too many occasions when your reporting has gone off the grid coincidently when returns were bad and I am not one to believe in coincidences especially when it comes to investing.
    Now I will take this opportunity to take a stab at your strategy. Most managers and forex investors I know were able to weather the YEN crash as they were all confident some kind of intervention would come. So to know that you have not recovered from this dip as everyone else did, tells me 2 things;
    1. You are really a novice outfit and panicked and sold like everyone else
    2. You were using way too much leverage that you were forced to meet margin requirements
    It could be one or both of the above but either way if you did in fact sell into the crash I feel very sorry for your existing clients.
    BTW I am curious to know why you have not responded to me mentioning you starting off with a new balance of $5000 for 2011 instead from keeping the previous balance to ensure your ‘quest’ to 1 million is still alive? Have you discarded that quest?? Safe to say it’s in the toilet??
     
  9. Dijkstra

    Dijkstra Recruit

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    Client experience

    I have invested a part of my money in Mulder FX.
    Last time I posted here I was positive about the results.
    The results are now negative.
    I hope Mulder FX will improve their FX skills further.
    I have also a Managed Account at: [​IMG].
    I have lost there. Though not so much. The strategy consists of a lot of cash on the side lines to have enough cash at hand in bet times.
    We use margin. Though not so much. Trendwatch.com is investing in spread betting stocks merely.
     

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