Scam and Unethical Practices by KEON CONSULTANCY

KennethL

Private
Messages
32
Not only does the scammer Anand has zero integrity, I am also seriously questioning his intelligence.

He posted my email to the broker on this forum. My email shows my request for the revocation and the fact THAT HE DISAPPEARED.

LOLLL HEY THANKS INDIAN SCAMMER. The email you posted here helps me prove my case!!

So it’s now a fact that you disappeared because it’s documented in my email to the broker. You disappeared and abandoned my account, which till now you have avoided any explanation and pretend that it didn’t happened.

Even if you refuse to explain (instead, you came up with lies and lame excuses), the reason IS OBVIOUS. You destroyed my account and did not want to manage the mess anymore.

YOU WANT PROOF? My MT4 screenshot above shows how you destroyed my account before I decided to revoke the POA.

So don’t talk crap about how I’m not respecting the “our risk management“ by requesting for the trades to continue running.

Once I decided to revoke the POA, what has my decision to keep the trades running GOT TO DO WITH YOU???? HELLO??? DID YOU FORGET YOU WERE THE ONE WHO MADE A >80% DRAWDOWN ON MY ACCOUNT AND DISAPPEARED?? YOU TALKING ABOUT AGREEMENTS NOW???

You were the one who left all the trades running in huge losses, then disappeared while my account hit margin calls 4 times. Now you’re saying I’m not respecting risk management by letting the trades run after the POA is revoked?? Are you seriously mentally retarded????

For Christ’s sake, you are not even trying to help yourself by speaking logically LOLLL.

Well done scammer for helping me prove my case. Let me clap for you.

Today my account balance is more than $20,000 and it’s doing well. I’m just chilling here to see what lies and stupid things you’re gonna say so that I can continue to show the world the kind of CHEATER, LIAR, SCAMMER, and STORY TELLER that you are. I’m waiting.
 

Pharaoh

Colonel
Messages
19,959
Two things:

1. Never sign an LPOA without a full understanding of how the brokers handle these. I have seen some broker refuse to cancel an LPOA if any traders are opened, and the account manager deliberately left one small trade active to prevent cancellation. If you understand the brokers LPOA terms, then you can decide for yourself if those put your account at excessive risk. If I ever were to sign off on an LPOA for trading, I would personally only do that at a broker with terms that permitted me to cancel the LPOA immediately without regard to the whims of the account manager.

2. I'd like to hear from Anand about the pre-revoction drawdown on the account.
 

KennethL

Private
Messages
32
Two things:

1. Never sign an LPOA without a full understanding of how the brokers handle these. I have seen some broker refuse to cancel an LPOA if any traders are opened, and the account manager deliberately left one small trade active to prevent cancellation. If you understand the brokers LPOA terms, then you can decide for yourself if those put your account at excessive risk. If I ever were to sign off on an LPOA for trading, I would personally only do that at a broker with terms that permitted me to cancel the LPOA immediately without regard to the whims of the account manager.

2. I'd like to hear from Anand about the pre-revoction drawdown on the account.


Yup, I did not understand the full conditions of a revocation. Revocation should be immediate without delay if anyone wants it. I will be more careful from now. In my case, the scammer Anand took his own sweet time to acknowledge the revocation. During that time, my account continued to go downhill, with no one taking care of it.

My FXPrimus manager even told me that the scammer Anand was already contacted and was aware that I'm waiting for him to respond to the revocation. The FXPrimus manager even said Anand would contact me. BUT HE DIDN'T. (I have all Whatsapp chat history from my client manager)

Anand's acknowledgement was the first time I heard from him in more than 3 days after he disappeared. Even then, he still did not offer any EXPLANATION FOR WHAT HAPPENED.

My investment capital was $15,000. My trading account equity went to as low as $800! And realized capital went to below $3000 after 4 margin calls! And I still couldn't do anything because I got back control of my account only after 29 hours from my revocation request, and more than 72 hours after he disappeared. I have all these as proof to show. Now Anand is saying he has been practising 3% risk per trade and kept DD below 30%. Even my dogs can lie better than that!

After he acknowledged the revocation, he was still trading on my account and he blamed it on his "master account" still linked to my account (Again, I have the chat history to prove) He even said that he's now using a "new strategy", and if I want to recover my account, I should not proceed with the revocation. HAHA!!!

I have to say this again before Anand start spinning lies: The only reason why I revoked the POA was because he disappeared and was uncontactable. On top of that, my account was in >80% drawdown. (I already provided MT4 evidence above). Anand said the drawdown was less than 30%. Well, yes, but he's referring to the capital. But look at my equity!!! And who the hell calculates drawdown on capital and not equity??? A scammer named Anand, of course. Because he can't trade for nuts.
 

KennethL

Private
Messages
32
Two things:

1. Never sign an LPOA without a full understanding of how the brokers handle these. I have seen some broker refuse to cancel an LPOA if any traders are opened, and the account manager deliberately left one small trade active to prevent cancellation. If you understand the brokers LPOA terms, then you can decide for yourself if those put your account at excessive risk. If I ever were to sign off on an LPOA for trading, I would personally only do that at a broker with terms that permitted me to cancel the LPOA immediately without regard to the whims of the account manager.

2. I'd like to hear from Anand about the pre-revoction drawdown on the account.

Sir,

Anand has repeatedly refused to address his disappearance, let alone talk about the pre-revocation drawdown and massive losses.

I would like to escalate this matter as a scam.
 

KennethL

Private
Messages
32
Not good...

You're damn right it's not good.

If you look back at old reviews and on the forums, there already have been reports of Anand blowing many accounts and disappearing. He would block his victims after he destroyed their accounts.

Always take these reports seriously and run away! People report them for a reason!
 

sam.peters

Corporal
Messages
84
Appreciate you taking the time to document this as thoroughly as you have.
Wish you the best of luck in getting a positive outcome.
 

KennethL

Private
Messages
32
The broker, FX Primus, just told me that the scammer Anand had ALSO told them that I revoked the POA because I was unhappy with his trading performance. hahahhaha.

Look at this guy. Going all around to cover his tracks.
 

KennethL

Private
Messages
32
This was my email to that scammer soon after he disappeared.

If you don't want to fall into a scam, avoid this indian cheater like the plague.



p1.pngp2.png
 
Messages
2
Below is the same 1-star review that I have posted on the review page. Extremely unethical. They trade for you through a MAM arrangement with LPOA, goes against all that was agreed (risk, no grid trading, etc), then when the losses get too big, they abandon your account with a huge floating loss and refuse to acknowledge the revocation of the LPOA. Thus, holding your account hostage while you can only look at the losses.

I am only wondering if FX Primus has a part to play in this. Here's the situation: I am required to inform the MAM Manager (Keon Consultancy) that I'm revoking the LPOA. They have to respond before the revocation can be done by the broker. But if they do not respond within 24 hours, then FX Primus will proceed with the revocation. But the problem is while waiting for this scammer MAM to respond (which he refuses to do so although he's been informed by phone from the broker), my trading has been running into a margin call and in the process, been losing thousands of dollars. I am wondering if FX Primus is encouraging the scammer MAM not to acknowledge so that I can lose as much money through the margin call. This would definitely benefit the broker, and maybe the broker would pay a cut to the scammer MAM.

This is my money that I am talking about. It is my trading account. I don't understand why an acknowledgement is even needed for the revocation to proceed, and while waiting for that, my account suffers a great loss. It doesn't make sense.

It seems that this scammer MAM has bust people's accounts many times and then disappears, or trade recklessly just to earn the IB commissions. This is a rouge trader who uses people's money!

I want Keon Consultancy to be listed as a scam. Please read on my experience. The whole experience wouldn't be so bad if he simply admits that he sucks trading, and then move on. Instead, he holds my account hostage while playing the disappearing act, and meanwhile the broker benefits from my losses which I cannot control.

My review is as follows:

This is going to be a very detailed review of an unethical business. All their dirty tricks unfolded before my eyes in less than a month. Before you think that the recent reviews in 2019 and 2020 are good, go way back to 2011 and read the FPA forums here https://www.forexpeacearmy.com/community/threads/keonconsultancy-com.13808/ , or look back at older reviews dating back to 2011. If you think 2011 is too long ago to make an impact, you are wrong. Keon Consultancy, namely Anand the main culprit, is still the same guy who does not know how to trade profitably and loses your money very quickly. In this review that I'm going to write, if anyone wants to know more, such as verifying my text conversations with Keon Consultancy (KC), or look at trade records, drop me a PM and I will gladly share. Nevertheless, I would be sharing the details of all the events that happened right from the beginning till I found out that Keon Consultancy (KC) is actually managed by unethical individuals. The main culprit is Anand, who would probably be the one who entertains your questions. If you want to know more about his team and the false claims they make, go look at their website.

Before I begin, do note that Anand's definition of drawdown is defined as the reduction of REALISED CAPITAL. Many of us define drawdown as the reduction of UNREALISED EQUITY. There is huge difference; with Anand's definition, you could have only a 1% drawdown on your CAPITAL but a massive drawdown on your unrealised equity. That would be disastrous anyway, and he uses it to his advantage. However, he promised to take only a 3% risk on each trade. With such a disciplined risk management, the drawdown on the equity should not differ much from the realised capital. It would only hurt your account if they suddenly stop adhering to their risk management plan, WHICH WAS WHAT THEY DID EVENTUALLY (more on that below).

From the beginning when I researched on KC, the impression was good. But don't be fooled. A company with a website that provides trade analysis of all their trades is not necessarily a good one. In fact, I realised later that for all trades that resulted in loss, they would either leave the trade analysis published on the website, or simply delete it. I have a screenshot evidence of a particular trade analysis that was deleted if KC wants to dispute my claims. Keep this particular trade analysis in mind because I will be talking more about it in this review. On hindsight, it was the biggest red flag. It is obvious that their trade analyses were copied wholesale from another website. Don't be fooled!

From my first contact with them to signing up of my account with their affiliated broker, everything was smooth and went well. I deposited $15,000. I'm fortunate that I'm doing well financially, and I was actually looking for various instruments to invest $500,000 to diversify my wealth and returns. Forex was one of my options, and I found this horrible animal named Anand. I thought I could probably invest up to $50K with him if he continued to do well. However, things started going downhill when he started trading on 4 August 2020. Why do I say that things started going downhill? Because now looking back, their win rate is less than 15%. Now, remember this, when you see the first 2 trades going into a loss, you would not think it's bad. Because in forex, there will be losses. I wasn't too concerned at the beginning. But after the first 3 trades hit stop loss by 7 August, with each trade carrying a 3% risk, there was already a 9% capital drawdown on my account, not including unrealised losses on open positions. So I sent a text to Anand to ask if he has any MyFXbook or trade history where I could refer, just to see how he did in the past. He said he doesn't use MyFXbook or any third party sites (REDFLAG!). I then commented "Not a very good start for this month, isn’t it?". Anand gave his assurance and I was convinced that he was in control. I was curious why the trades were hitting Stop Loss so quickly and then reversing. I discussed with Anand on the possible reasons such as Stop Loss hunting by the broker. At this point, I even told Anand that I would be depositing another $10,000 soon. I was ready to let them manage more funds to increase the returns. I still had the confidence in that bastard.

By 20 August, there were 13 losing trades out of 16 trades in total. Drawdown on my capital was now 16.3%, not including unrealised losses on open positions. I sent a text to Anand and told him to stop trading if capital drawdown hits 20%. Anand, as usual, came back with a ton of assurance telling me how each month's profit ranges from 9% to 50%. He also said that because I agreed to a maximum of 30% drawdown, I should stick to the plan. He said that KC has never hit 30% drawdown so there was nothing to worry about. Even if 30% drawdown was hit, there would be a recovery plan. Again, I agreed to continue.

I had been waiting for an opportunity to deposit the additional $10,000, but I couldn't bring myself to do so because of consistent losses. So on 23 August, when capital drawdown was, by now, 20%, I sent a text. I said "Anand, when is a good time to pump in more funds?" But this time, his colleague, Manish, which I think is Anand himself, replied me. Manish told me that any time is a good time to deposit. He said that if I deposited now, and when we recover from the current 20% drawdown, my new deposit would have made 20% profits. Now, anyone with a brain would instantly know that Manish's statement has no logic, because depositing another sum of money does not cause any profit to be made on that deposit UNLESS new trades are made. Correct? This is just basic mathematics and common sense. So my reply to Manish was "It depends if there will be new trades to be opened".

To make things very clear here, here is the context of my reply to Manish and it should sound like this: "It depends if there will be new trades to be opened (ON THAT DEPOSIT)". You might be wondering why I needed to make this point explicitly clear. This brings me to my next point. Read on.

That very same day, with already a 20% drawdown on capital and a further drawdown on floating equity from open positions, I noticed a new NZDUSD position was opened, and a rather large position. As usual, I went onto KC website and I saw a trade analysis in relation to this NZDUSD position, complete with Stop Loss and Take Profits level. I was quite pleased that despite the bad performance for the past 3 weeks, the team at KC was still doing their due diligence to trade. I was still confident that with good analysis, the probability of good trades would eventually outweigh the bad ones.

However, other positions were in bad shape. The losses on these positions continued to increase till the drawdown on my equity has reached 30%!! You would remember in my earlier paragraphs I mentioned that if the risk per trade is adhered to, the drawdown on equity would not exceed 30% because your losing trades would hit stop loss and you would be in control of the drawdown. But this time, my equity drawdown was more than 30%. This means the trades are running on more than 3% risk, or worse, no Stop Loss! This was when I noticed that open trades that were already more than 3% in loss ARE NOT CLOSED. Where was the risk management that was agreed upon??

I sent a text to Anand and complained about this. NOW HERE'S THE BEST PART: (and if anyone doubts my story, send me a PM and I will show you the full Whatsapp conversation).

Right off the bat, Anand told me that I pressured his team to open more trades. I told him all I asked was about the best time to deposit more funds. But he continuously accused me of pressuring his team to open trades, WHICH CAUSED HIS TEAM TO OPEN THE NZDUSD TRADE which I mentioned just 2 paragraphs above. WOW I COULDN'T BELIEVE WHAT I WAS READING FROM ANAND. I asked him how could my simple question about deposit even caused his traders to open a new position, and there was even a trade analysis published on his website regarding that trade! Anand said I asked for more trades. Now if you need a recap, re-read regarding my conversation with Manish above, and you will see that I didn't ask for more trades. I asked when was a good time to deposit more trades, and I said "It depends if there will be new trades to be opened (on that deposit)". Anand went on to tell me how my feedback on 7 August and 20 August pressured his team to the point where it affected their performance! He couldn't stop accusing me of being the cause of the poor performance. CAN YOU BELIEVE IT?? Anand continuously put the blame on me to have caused the NZDUSD trade to be opened. He said he doesn't agree with the NZDUSD trade but his traders felt pressured by my question about the deposit and thus "forced opened" a trade. WOW. I didn't know you could force yourself to come up with an analysis which subsequently forced you to open a trade. At that time, I knew he was just trying to find excuses for a bad trade and put the blame on someone. But Anand put on a very fake front, acting like he has high morals and integrity, telling me that he is responsible for the actions of his traders. He said his team will not run away from difficult situations and will do their best to recover from the current mess. You know, all that usual "I'm a gentleman bull****". Do note that the current mess was created by his team. Even if we were to take away that NZDUSD trade which he accused me of pressuring his team to open, it is still a fact that my whole account was already in a mess because of their horrible performance. Very shortly after, the NZDUSD trade analysis was deleted from the KC website! I have the screenshot of it so let me know you doubt my words.

But there are still old bad trades in my account and they continued to accumulate losses! In a matter of hours, the loss on the NZDUSD trade AND ALL OTHER TRADES continued to multiply. At this time, the drawdown on equity is way above 30%. We went into the weekend with a huge floating loss. I was extremely uncomfortable throughout the weekend not only because of the huge floating loss, but because of the fact that the 3% risk management plan is no longer followed! If that 3% risk was followed, there would not be this huge floating loss in the first place. I texted Anand again with the intention to ask him if it was intentional that the 3% risk rule wasn't followed. I still gave him the benefit of doubt and with good faith that he knew what he was doing. But I did not get a reply. It was the weekend anyway so I did not want to bother him. But I got a hunch that he ignored my message.

The following week, on a Monday, I texted Anand again asking if he was available. I needed to know why the 3% risk is not adhered to, and what his plans were. For hours up till now, there has been no reply. It became very clear then that he had abandoned my account. He abandoned my account after realising that the mess is too great and troublesome to recover. Furthermore, he wouldn't recover his mess because he has no ethics in what he does. He doesn't get money out of recovering an account that is full of losses, no less caused by him. So the easy way out is to abandon the mess, get another client, and hope for the best. If just 3 days ago, he could praise himself as someone who is responsible and full of integrity and abandon your client 3 days later, what kind of despicable animal is that?

My account is managed by that scum through a Limited Power of Attorney, which gives him full control of trading on my account, and I do not have trading rights. He left the losing positions running and abandoned it, leaving me unable to do anything with my account unless the Power of Attorney is revoked, which takes time for the broker to process. The broker requires him to acknowledge through email that I want the POA revoked, but the scum refuses to acknowledge. He was even contacted by the broker and was told to acknowledge, but he chooses to remain silent while holding my account hostage. Why is he doing this? God knows. As of now, he IS STILL HOLDING MY ACCOUNT HOSTAGE. Alternatively, if he continues to remain silent. I have to wait for 24 hours before a revocation can be done.

Having typed this review, it occurred to me that the despicable animal Anand would most probably respond to it, based on the history of his replies on this website. And knowing the kind of despicable and lame person he is, I would not be surprised if he would twist his words to say that he had no intention of abandoning my account. I'm sure he would come up with some unfathomable excuses again, such as me jumping to conclusions too quickly, or he did not receive my text, or something about his (non-existent) team members again.

Let me make this clear: Keon Consultancy IS UNABLE to make 9-50% profits per month. THEY DO NOT FOLLOW THE RULES THAT WERE AGREED UPON, such as risk management. Their trade analyses are copied from another website, which they then use to place the trade. They don't know how to trade and they don't care. All they care is the IB commissions and if luck has it, commissions from your profits. On good days, everything seems fine. When **** hits the fan, they will run faster than you know it. Their win rate is less than 15%. So no matter how perfect they are at following DD or risk management (which they don't follow anyway), you are only going to lose money eventually. By following a set of rules, you are only losing your money slower. Oh yes, they do grid trading, which they lie and say they don't.

Conclusion: If Keon Consultancy had the decency and ethics to stay on despite the mess they created, then their bad point would be their incompetence in trading (less than 15% win rate), which is horrible and embarrassing enough. In reality, they are a bunch of crooks who don't know how to trade to save their lives, and they operate with unethical practices (blaming clients for poor performance) and certainly without morals (copying trades from other websites and abandoning clients' accounts).

There already have been countless complaints about KC abandoning and blocking clients after losing all their money. It's up to you if you want to be the next victim. Do not be fooled by the positive reviews on FPA. They may be true, but Keon Consultancy, especially Anand, is a ticking time bomb. Things may go well today and very quickly turn ugly for you tomorrow. Then you will find yourself as the next abandoned victim. Forex trading is already high risk. Don't gamble your risk anymore with this time bomb called Keon Consultancy.

FPA needs to move Keon Consultancy to the Scams category. I hope the admins or moderators can consider doing that to help more people from getting scammed by KC. There are already countless who lost their savings to them and got set back financially for years. I will be sure to start a thread in the Scams page to start the ball rolling. Again, if anyone has the slightest doubt about what I said today, drop me a PM anytime. I will be very glad to share all trade history, email and text conversations, including conversations with the broker, and all matters relating to that scum named Anand.
Me too has been cheated by this scumbag named Anand and has lost $5000 within month.
 
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