Hello, I thought that I would give an update on my situation with Amasis Capital. I was part of a trade group (Collective Investment Company) who invested into the Managed Acconuts of Amasis Capital traded by Michael Atkins (matkins@amasiscapital.com).
Luiz Sanchez from Dukascopy recommended Michael Atkins from Amasis as one of the best traders he had seen in years. Luiz Sanchez no longer works at Dukascopy I believe. For starters, my group was not allowed to see live trading. Only statements at the end of every month. That should have been our first warning sign right there. But we (stupidly) persisted. We did find out that drawdowns were dipping over -50% at time. But still let the investment go with expectations that the DDs were rare. Then, we attemped to get statements from both amasis and dukas, and didnt get any response for a very looooong time. We then found out that the accounts were blown out !! finally after many attemps to speak to amasis through Alexandria (Amasis's secretary), since Dukas took zero responsibilibty, we got ahold of them (MIchael). He told our group that the only way he could continue trading was to do the right thing and restore the loss simply because he didnt want to tarnish his reputation (fyi, he blamed the blow out on dukas, where they said it was all him). He said he was switching to new brokers after this because Dukas was negligent, but now says he is starting again back at Dukas. Why would you do this, if you blamed a margin call on them?? MmmmK. Anyways, I know of at least 4 other groups who Atkins has been stringing along for the past 10 months now, with the promise to restore accounts. Every month its "almost there" and big apologies. Guess we will see if he is a man of his word, or just another FX rookie liar, who has no business managing money in the first place. I am not expecting him to deliver, and do not think that he is a man of his word. Thankfully we were not to heavily invsted with him. We were going to put much more in because of the dukascopy hype. The sad part is that I believe he is still soliciting client funds.
So... did Michael Atkins blow out the accounts? Not 100% but close to 90% yes (-89%). Does he have to legally repay the loss? No, of course not, he just promised all his investors he would becuase of his novice and reckless trading, and to protect his reputation. Has he done this yet? NO! Has he been promising for a year now that he would? Yes! Will he ever do it? Probably not. If he did, it would show he might have some honesty and character in him. But i really dont think he will. No, Atkins will not know my name, as i am invested indirectly through a CIC (collective investment company). Those that have asked if there was a stop trade agreement in place for -25% no there was not. Hence the -90% blow out. Would I ever invest with him again? Not a chance after seeing how reckless his trading was before and how large of a loss he had on our account. Not to mention all his lies and promises about refunding all the losses he endured on all cleint accounts. Really there is no one to blame but ourselves for trusting and believing in Michael Atkins from Amasis. Please be careful out there people.
