• Please try to select the correct prefix when making a new thread in this folder.

    Discuss is for general discussions of a financial company or issues related to companies.

    Info is for things like "Has anyone heard of Company X?" or "Is Company X legit or not?"

    Compare is for things like "Which of these 2 (or more) companies is best?"

    Searching is for things like "Help me pick a broker" or "What's the best VPS out there for trading?"

    Problem is for reporting an issue with a company. Please don't just scream "CompanyX is a scam!" It is much more useful to say "I can't withdraw my money from Company X" or "Company Y is not honoring their refund guarantee" in the subject line.
    Keep Problem discussions civil and lay out the facts of your case. Your goal should be to get your problem resolved or reported to the regulators, not to see how many insults you can put into the thread.

    More info coming soon.

Senen Pousa and ProphetMax FX

I had been investigating joining a managed fx program but so many of them out there are just scams. Then I heard about PM.

I did pay the 2k for Prophetmax but did not fund my account. As soon as I had paid, I felt that there was just not enough facts to go on. I did not feel comfortable with the brokerage that was being used. Felt it was too new and therefore too risky for my likings. Also did not like that one was not to contact the brokerage directly....and why would that be? Was this brokerage the one that would be used by these clients that had millions?

It is too bad that people can't get the 2k refunded tho as it would appear that losses incurred from trading are lost forever. And clearly, these losses should not have occurred. The above post by Carel Pieters indicated that they contacted PM the day before when trading could have been halted and losses been less but no action was taken and trading continued.

As I searched online for a managed fx company I would be comfortable with, I actually came across the company that PM was using for the trading. And that was before PM revealed who they were using. I actually contacted this group before I knew of their connection to PM but at that time, they said they were not taking any new clients. I wondered if there was some connection between this company and PM because the results posted on their website were very similar to what PM stated and they used the same brokerage in NZ.

I eventually did find a managed fx company I felt comfortable with and using a well known brokerage. And any dealing with this brokerage is done entirely on my own, unlike the system PM uses.

I put 10k in last week and am up 3.1% (less the eventual 30% Performance fee). I have had 11 trades with 2 losses. I have had a lot of contact with the main money manager - again, something not allowed within PM. So I feel comfortable with the company trust wise but I also know this is high risk but also high reward, if the trader's practice good money management which is imperative to succeed in FX trading.
 
I eventually did find a managed fx company I felt comfortable with and using a well known brokerage. And any dealing with this brokerage is done entirely on my own, unlike the system PM uses.

I put 10k in last week and am up 3.1% (less the eventual 30% Performance fee). I have had 11 trades with 2 losses. I have had a lot of contact with the main money manager - again, something not allowed within PM. So I feel comfortable with the company trust wise but I also know this is high risk but also high reward, if the trader's practice good money management which is imperative to succeed in FX trading.
Please, send me a private message with this company's details. Many thanks!
 
the company you found

As I searched online for a managed fx company I would be comfortable with, I actually came across the company that PM was using for the trading. And that was before PM revealed who they were using. I actually contacted this group before I knew of their connection to PM but at that time, they said they were not taking any new clients. I wondered if there was some connection between this company and PM because the results posted on their website were very similar to what PM stated and they used the same brokerage in NZ.

I eventually did find a managed fx company I felt comfortable with and using a well known brokerage. And any dealing with this brokerage is done entirely on my own, unlike the system PM uses.

I put 10k in last week and am up 3.1% (less the eventual 30% Performance fee). I have had 11 trades with 2 losses. I have had a lot of contact with the main money manager - again, something not allowed within PM. So I feel comfortable with the company trust wise but I also know this is high risk but also high reward, if the trader's practice good money management which is imperative to succeed in FX trading.

Send me a private message also about the company you found and using now. thanks
 
I eventually did find a managed fx company I felt comfortable with and using a well known brokerage. And any dealing with this brokerage is done entirely on my own, unlike the system PM uses.

I put 10k in last week and am up 3.1% (less the eventual 30% Performance fee). I have had 11 trades with 2 losses. I have had a lot of contact with the main money manager - again, something not allowed within PM. So I feel comfortable with the company trust wise but I also know this is high risk but also high reward, if the trader's practice good money management which is imperative to succeed in FX trading.

I would appreciate knowing who this company is as well if you would kindly PM me.#

Thanks
 
No disrespect to Nemo100, but come on people. A guy with 4 posts claims to have found a reliable account manager and everyone is begging him for more info. :confused:

Maybe Nemo100 really has found a good account manager. On the other hand, one of the best ways to get victims for a managed account scheme is to post something about having found a good one in a thread where victims are talking about a bad one.
 
No disrespect to Nemo100, but come on people. A guy with 4 posts claims to have found a reliable account manager and everyone is begging him for more info. :confused:

Maybe Nemo100 really has found a good account manager. On the other hand, one of the best ways to get victims for a managed account scheme is to post something about having found a good one in a thread where victims are talking about a bad one.

No offense taken Pharaoh. Everyone should proceed with extreme caution.
 
A couple of updates to the Senen Pousa Saga ...

1. The Australia Corporations watchdog, the ACCC, has taken control of funds that have been paid in by members. Not sure if it is only the membership fees, or if it also includes other monies. According to the local papers, members of the Prophetmax system lost upwards of $70,000,000 on that fateful May day.

2. The Elevation Group has lodged a class-action lawsuit in Austin County, Texas. I believe it names Investment Intelligence Corporation (Prophetmax, Australia), IB Capital Co. (NZ), and trader (whose name I forget) as defendants. Apparently, the trader was not even registered with the CFTC.

3. Mr Pousa has been busily blaming IB Capital, claiming that every trade was done without authorisation. This includes trades that made gains.

4. Apparently, Mr Pousa's USA connection, Mr Joel Friant has fled Seattle WA, and is now holed up somewhere in Mexico. Convenient, huh?
 
Back
Top