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Prime Eagle Funds

Discussion in 'Scam Alerts' started by B.Schonewille, Sep 22, 2012.

  1. B.Schonewille

    B.Schonewille Recruit

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    I want to warn others for this company!

    I participated in the "Pure managed FX fund" from Prime Eagle Funds (Website Disabled) in july 2012. The broker was FinFX. I funded my account with $11000 and after 2 months my account went in 2 days time to $1600 !!! I really get the impression they were trading against me with all losses in a row! I have prove of this.
    In the beginning they promised me that they were really trading with very low risc with a stop loss of 30% and TP and that the account would be traded by an expert: Stavro D 'Amore. This turns out not to be true.The name on my LPOA was Ahmed Abd Rapo, so he was the trader. They had a trackrecord of 15-22% per month (if this is true).

    I tried to complaint to FinFx but they say they can't do anything. I emailed Prime Eagle funds and they only said that the markets worked against them! Further they could not do anything for me. They say they close their company now, but I'm sure they will start again. Maybe under another name!?
    I'm sure there are more victims like me. So please look into this!

    The company is called Prime Eagle Funds
    The trader that signed the LPOA is called: Ahmed Abd Rapo
    Sarina Bailey is the service Consultant
    Address: 3 The Quadrant Coventry
    UK CV1 2DY
    tel: +442476980932
    Website Disabled
    info@primeeaglefunds.com


    P1100177. P1100176.
     
  2. BigT1

    BigT1 Sergeant Major

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    Hello B.Schonewille,
    I am personally forwarding a request to the Senior Management of FinFx (with whom I am acquainted), asking them to review your account, your complaint, and the PAMM Account they hosted for your apparently incompetent expert trader: Ahmed Abd Rapo.
    I am asking them to post here the results of their general investigation as legally permitted, and to consider banning this trader from future Account Management through their firm.
    Please be advised that "Stavro D'Amore" himself has been discredited for disasterous trading and removed by FPA as a Special Consultant.
    Please search his record here on FPA for more informations.
    .
    Be advised that FinFX (in my opinion) is a reputable Broker-Dealer, but is not technically responsible for Gains or Losses from trading activity conducted honestly through their brokerage under an LPOA agreement. However, they do have the moral responsibility to the public to properly vett the money managers they host.
    This is most important for their own reputation, and obviously is critical to their forex customers' satisfaction.
    It does an honest broker absolutely no good to have their clients' accounts placed with a hosted Money Manager that loses their clients' money.
    .
    Please wait patiently a few days for a reply from the FinFx Management, or for my next post here.
    .
    Anthony Ingrassia, CTA
    NFA ID#: 0278164
     
    #2 BigT1, Sep 22, 2012
    Last edited: Sep 23, 2012
  3. RP1

    RP1 Corporal

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    Sorry for your losses here and I hope somehow you get this sorted out .
    That was some maniac trading your account there, looks like he doesnt have a bloody clue .
     
  4. dkami

    dkami Sergeant

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    #4 dkami, Sep 23, 2012
    Last edited: Sep 23, 2012
  5. siriyke

    siriyke Banned

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    I am sorry to hear this news but one thing you should understand is that most mm deceive traders with stored performances and not active trade performances. Moreover traders are one of the impatient investors all over the world:D . Sometimes they may lose 50pips and decided to sacrifice 99% margin to recover the loses and end up crashing the account. If you want to survive this crazzy market you must have endurance and patient.
     
  6. Pharaoh

    Pharaoh Colonel

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    Trading without a hard stoploss means that there is no guaranteed risk control. If the trader sleeps, steps away from the computer for a moment, or loses internet connection for a moment, and the market takes a sharp turn, then the account can be wiped out.

    Looks like no stoplosses were employed. :(
     
  7. BigT1

    BigT1 Sergeant Major

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    Hello again B.Schonewille,
    I have conversed with FinFx Executive Management regarding your particular situation, your account history, and your selected LPOA trader.
    One of the firm's three managing partners is now fully aware, and is reviewing this matter internally.
    I assure you, he is as disturbed by this as you are; and has assured me he is undergoing an internal review of how their firm might improve the situation for their clients who choose to engage money managers operating within their brokerage environment.
    .
    There may or may not not be much that can be done for you personally, today; but your bravely bringing this atrocity public may serve as a catalyst to help develop investor protections in the future (at least at this young, growing, honorable Finnish broker-dealer) endeavoring to become a world leader; who needs not this kind of black mark.
    .
    Feel free to contact me privately, for more detailed information that may not be shared publicly.
    .
    Regards,
    Anthony Ingrassia, CTA
    NFA ID#: 0278164
     
    #7 BigT1, Sep 24, 2012
    Last edited: Sep 24, 2012
  8. B.Schonewille

    B.Schonewille Recruit

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    I want to thank Anthony Ingrassia for bringing my issue to FinFX.
    This really must stop, otherwise these criminals will make more victims!

    Before this Prime Eagle case I lost €40000 in another managed Fx- account due to criminal activity. This was with Senen Pousa from Investment Intelligence Corporation and IB Capital as a broker. Most people lost 65% in two days here!!!
    Last week the FIOD (Fiscal information and investigation service of the Netherlands) were here in my home to look at all the evidence I have as a witness against IB Capital. In America they also started an investigation. A lot of people were victims here!. So there are more criminals out there then I thought!

    But where are the companies that are trustworthy and provide a managed account? I hope to find one to invest a little (!) amount of money in this time.
    On this forum I saw FX Solutions from Vaults FS and Private Forex Trader Superior. Does this mean I can trust them? Does someone know these companies?

    Kind regards,
    Ben
     
  9. JMBlom

    JMBlom Private, 1st Class

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    And another scam by Stavro is born: HybridCorp - Financial Engineering

    I also urge everybody to read the Prime Eagle Fund threath:
    http://www.forexpeacearmy.com/forex-forum/forex-signals-services/12802-primeeaglefunds-com.html
     

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