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this the email I have just received form David Mcewan....I still dont trust these oak guys but will have to wait until next week

"Hi Mark

Yes, I understand all clients who have experienced large open positions or have been closed out will be given financial assistance to get up and running again.



Kind regards
 
um why?

this the email I have just received form David Mcewan....I still dont trust these oak guys but will have to wait until next week

"Hi Mark

Yes, I understand all clients who have experienced large open positions or have been closed out will be given financial assistance to get up and running again.



Kind regards


Why would I wanna trade again? It doesnt work. They dont know a thing about trading from the conversations ive had.

Plus I havent even heard back. Ill join the protest instead.
 
Hi everyone, this is David McEwen

The majority of comments here are missing a key point - that any investment comes with risk.
Those who make any investment need to weigh up the risks and returns before committing themselves. Nobody ever said investing in foreign exchange was risk free or that returns are guaranteed - anybody who invests in any asset with either assumption is a fool.
I have researched OakFx extensively over the past two years and believe the returns are attractive relative to the risk.
Any investment - even putting money in a bank - runs the risk of a capital loss. That includes New Zealand where the government has just passed a law allowing for bank depositors to take a 'hair cut' on their life savings in the event of a bank failure.
The most money an investor in OakFx can lose from a standard trading account is the capital they put in - usually A$15,000.
The value of someone's house or stock market portfolio can lose that much in a day - yet I don't see protestors outside real estate agents or stock brokers.

I am willing to assist anyone who has any questions or comments regarding OakFx. A contact number can be found at Acorn Publishing
 
A response to your sheepish comment.

You Make ME LAUGH!

Advertised and sold as microtrading and micro risk where as i had a margin call because of very large single trades.

a $2000 loss in one trade is not micro trading? THen you are trying to suggest its our fault for not understanding risk vs gain??

I would suggest the system might bluff its way through trading for a year.....with a slow decrease in equity.
the it fails. i wouldnt think anyone has returned the buy cost 24700????? not to mention the 15000 trading account.

I urge anyone to prove me wrong! IF not the only person making a profit is you DAVID
 
David, how much did you make on this deal? Did you investigate this company before promoting it?


Ryanjo, I see you are online. I asked you some questions back on May 22nd. Can you answer those and update everyone on your experience?
 
A message to Scammed...., you will be aware of the common phrase in investing that ‘past returns are no guarantee of future returns’. The OakFx system is designed to make small trades but extreme volatility in a couple of currencies early this year caused some open positions to blow out. Extreme events are hard to guard against with any investment and it was just such unusual and unforeseen circumstances that caused banks to fall on Wall Street, dozens of finance companies to go under in New Zealand and Greece to go bankrupt for goodness' sake.

The algorithms have now been adjusted in a bid to prevent a recurrence and trading to date with the new system has been strong with very low levels of open positions. You are again welcome to visit us so that we can assist you with this upgrade and the re-setting of your account. In some cases the Developer even offers a rebate to assist in this so there is every reason for you to get in touch, assuming your issue is genuine.

I am somewhat surprised however that you prefer to post negative comments anonymously when I have given you the opportunity to contact me directly to discuss your account. I can only assume that you have not been in touch for a reason, and that raises the question of why. I am not a frequent visitor to blogging sites but I have heard that some unscrupulous businesses use them to attack their competitors. I sincerely hope that is not the case here.

To the two people who have been in touch, I am pleased to have been able to assist in resolving your issues. The offer remains open to anyone else who wishes to make contact.
 
A Response From Phoenix Forex

Thank you for your comments, some of them were quite constructive and we have taken them onboard. We certainly attempt to reply to enquiry in a timely fashion, notwithstanding the current workload as a result of increased buyer enquiry. Where we fail we want to improve and will endeavor to do so rapidly.

It is a priority to us that all of our clients are happy with the product and its returns. On the rare occasion a customer has notified us otherwise we have worked with them to find a solution.

Anonymous blogs really don't help us help you, or get any traction. If you have a genuine issue we would love to hear it and work it through with you to fix it.

Ultimately, as I'm sure everyone here knows, anyone can say things behind an alias without having any responsibility to be accountable for what's been stated. We on the other hand are very real and easy to find as David McEwen has himself invited people to contact him who have questions or need assistance. We can't do much more than that until you do.

I'm sure many would agree though that complaining online or making false statements behind a fake name while trying to rally the troops to walk up and down outside our office is not going to get anything done. Given the time required to conduct an account audit and create a solution for you with the Developer, we will simply not be able to address your concern in that forum or without an appointment.

It would be far more productive to make an appointment and come and see us one on one, having the conversation face to face and allowing us to research your account and find a solution for you.

IF your account is genuine and has issues we WILL, to the best of our abilities, fix it and have you trading profitably again as soon as possible.

Sadly many of the statements made on this thread have been completely out of context and without any evidence to prove they have a drop of truth to them - perhaps this is most likely the reason why no names or contact numbers are available. The very few accounts that have a higher than usual number of open trades are being addressed and we have communicated this directly to the account holders recently. We do of course have an upgrade to get these accounts trading at full potential again and this was also communicated to them.

Our product is outstanding when compared to other opportunities available in many aspects. It comes with minimal requirement for risk capital, the returns are attractive and consistent and all clients get a money back guarantee which is almost unheard of in this industry! Further, we even allow potential purchasers to speak with existing clients in some cases before coming on board and we show them historical data and live trading. All of this, and our extensive purchase documentation (which also discloses risk) is designed to offer a potential purchaser all of the information they may require to make an informed decision.

We feel we are going above and beyond the call of duty in working with this small minority of accounts, in some cases offering Developer rebates, to reset their account and get them trading again.

If you were to lose money in almost any other investment available, we would be very surprised if the response was anywhere near as helpful as ours. Try calling Telecom for example (if you can get through) and ask for the 75% of equity they would have lost you in last 10-12 years and let us know how you go. Or more recently Facebook (which would have burnt 50% of your equity in just four months post launch). Both of these examples would have required a much higher level of investment and thus significantly higher losses, often in the many tens of thousands of dollars per investor or millions in the case of the many institutions that lost fund money with both. More locally, had you bought a house in Auckland in 2007 it would have just recently regained its value, some 6 years later... Assuming of course it was not newly built and plagued with leaks or used as a P-Lab by your tenants.

All investment carries risk. Even traditional, "rock solid" investments such as bluechip companies and real estate. The difference here is that any loss with OakFx is mitigated to a maximum of $15k, which we also work tirelessly to avoid. If some positions have become high, as stated above, through events outside of our control, rather than run and hide behind signed customer documentation and disclaimers, the Developers, through Phoenix Forex, seek to work with people for a productive resolution and a happy customer.

We have hundreds of customers who are happy with their purchase and returns thus far, and many have purchased multiple licenses and/or referred a friend or family member to come on board.

We are unaware of the 8 unhappy customers you claim to have rallied and would love to speak further with them as we believe in our product, back it 100% and want these clients to enjoy the same returns as the other accounts. If you are genuinely aware of anybody that has had a bad experience with OakFx please do them, and us, a favour and give them our contact details or urge them to call us today so we can make an appointment to sit with them, conduct an account audit and help them reset and upgrade their account to the new platform.

We currently have some exciting things happening at Phoenix Forex regarding OakFx including a new trading strategy which means significantly reduced risk and open trade levels per pair. In many cases this has resulted, not only in a much smaller draw down but in increased returns. The release of Oak+ which adds a Gold and Silver trading module further enhances returns for account holders who add it.

We thank you for the opportunity to respond and look forward to assisting you should you contact us.

As this response is full and final we will not be posting any further comment on this thread.

Regards,

Phoenix Forex
 
An "oustanding product" that costs a huge pile of money and doesn't seem capable of shutting closing trades that end up in large loss due to unexpected volatility.

Hello people! It's called a STOPLOSS. Yes, there can be slippage during times of volatility, but if your trade volume is reasonable, this will protect you from blowing an account.

I have an "outstanding product" for Phoenix Forex, and it's 100% free. It's a simple set of instructions about risk management:

https://www.forexpeacearmy.com/fore...2272-how-manage-risk-while-forex-trading.html

I recommend reading the article before creating and selling another high priced "outstanding product" so you can learn some basics about how to design the product so it doesn't have a built-in potential to wipe out client accounts.
 
Even in tough times, OakFx high frequency micro-trading creates a steady income. It helps YOU make a profit - even while you sleep
 
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