Private, 1st Class
Seriouslly above information given by you is not going anywhere....so sadUnless they can show records directly from the broker, I'd categorize that as "CLAIM to have been trading since 2009"
The MT4Live statements appear to be of much more recent vintage.
He agrees to reimburse losses - Sorry, I've seen too many managed accounts making a promise to somehow "insure" investors against losses turn out to be scams. As far as I'm concerned, this is a solid warning sign of scam. Show me one licensed account management company operating on Wall Street that makes a promise like this and I'll rethink things.
Payments of percent of profits make no mention of "high watermark". Let's assume you have $1000, have a 50/50 split (for easy math) and the account profits $200. You pay $100 commission and now have $1100. If there are losses in week 2 that leave you with $1000, then week 3 makes $200, you again pay the commission and end up with $1100. You've just shelled out another $100 to get back to where you were. Under high water mark, you would only owe commissions on the money above $1100.
It's a pooled investment. You don't have an account with a broker. You send it all to the account manager. Even if this guy is 110% legitimate today, what happens if he suffers some sort of personal financial disaster and all that money is sitting there. Many embezzlers don't start out planning to take all the cash. They just "borrow" a little during an "emergency". If he's not legit, pooled investments are much more likely to be Ponzi schemes.
If you really want an account manager, get one that lets you open an account with a well regulated broker and sign a proper LPOA.
Seriouslly above information given by you is not going anywhere....so sad
Hello,My information is now readily available on the web and is linked to the name of the company. Anyone clever enough do to a quick google search to see if Vladimir Fx shows any signs of being a Ponzi scheme will find it. Anyone looking to see if there are other warning signs about the possibility that VladamirFx might be a scam will find it.
The "so sad" part is that most people put money into things like this and don't try to do any research until later.
I can't stop people from investing in bad companies. I can't force people to perform simple due diligence on a company before investing. I can and do put out my opinions about whether a company shows any obvious warning signs. People who listen to me are much less likely to get scammed.
It's a pooled investment. That means he's got direct access to your money.
And then there's the guarantee to cover losses. Show me even one NFA or CFTC registered account management company that does this.
Both of the above are serious red flags that can indicate a Ponzi.
The MT4 report is for one account that may or may not be related to what's being traded for clients.
Add in the flaw of not having "high watermark" in the agreement and this one looks poisonous on far too many levels.
So per your great knowledge everything is Ponzi in this world...tomorrow you will say GOD is also ponzi because we haven't seen him. LOL.
This is 100% incorrect. Pooled accounts have a high percentage chance of being a ponzi or just being stolen. Having YOUR money in YOUR account traded while using an LPOA is a 100% guarantee that the system is not a Ponzi (but it can be abused in other ways).
So far, every managed account system (Ponzi or not) I've seen guaranteeing to cover losses has ended badly for the investors.
Any profit sharing trading agreement needs to have a high watermark statement. Otherwise, you could pay fees over and over again for the same balance in your account.
I've had a front row seat to managed account scams for years now. I also follow the CFTC's enforcement actions and they perfectly mirror what I've seen in reports from real investors who lost it all. It appears that you are letting greed for good returns on your money blind you to worrying about the return of your money.
Arsh, I have a suggestion for you. You obviously seem to think that you have such great skill finding spectacular investments like this that you feel can't possibly be Ponzi scams. Since your experience in this area is so vast and you are so confident, why don't you put your money where your mouth is? Go ahead and mortgage your house, max out your credit cards, borrow as much money from friends and family as possible, and then throw it all into this system. Come back every few months and update everyone about how rich you've become.