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problem with managed forex account

Discussion in 'Scam Alerts' started by ian s, Mar 8, 2009.

  1. ian s

    ian s Recruit

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    I was approached by Atwood & james of New york/Rio de janeiro about forex trading. The broker went carefully through the process of options trading, and after a bit of due dilligence I took their advised trade of 3 calls and 2 puts. This hit its strike price and turned a 7000 dollar investment into 9000 dollars, which they duly sent me. Then they assured me that they had an absolute certainty of a trade where only puts were required. The strike price was never reached and the trades expired virtually worthless, turning a 14,000 dollar investment into 125 dollars!! When I rang to ask what had gone wrong I was told that the strategist (Joel Firestone) has made a bad mistake and had been sacked. Yet he apparently still works for A&J. They have since lost another trade for me, turning a 1,400 dollar trade into just 25 dollars.

    I would offer a word of warning to anyone thinking to invest with A&J: beware! they are very nice people to talk to, but they are just not very good at what they do, and their advice on so-called "absolute cert" trades is not worth listening to.

    I don't think this was a scam - but then I may be being vary naive here. Has anyone else had a similar experience???
     
  2. Pharaoh

    Pharaoh Colonel

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