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www.best-managed-forex-accounts.com SCAM

Discussion in 'Scam Alerts' started by vanbuylaere, May 3, 2011.

  1. vanbuylaere

    vanbuylaere Recruit

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    With claims of making +50% average per month, max drawdown of 7%... and a message saying, minimum account USD 10.000, will be increased next month (seems to be updated month after month...) you are guaranteed to loose at least 50% in the first month.
    Stay away from this guy, major looser...
    Hope this will help some of you
     

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  2. Pharaoh

    Pharaoh Colonel

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    Was there an LPOA contract? If so, did it specify the drawdown?

    You should notify Oanda of this. Maybe they can save some other clients from suffering the same as you did.
     
  3. vincam

    vincam Sergeant

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    That is your account? Managed by this guy? Holy crap, lost 65% of your account in five trading days. Did you have some kind of contract with him as Pharaoh asked?
     
  4. wuhongfa

    wuhongfa Recruit

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    You save my life

    Thanks a lot, I almost had wired my money to finfx if I haven't checked your comments here.

    I will keep away from this guy.
     
  5. Pharaoh

    Pharaoh Colonel

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    Even when the FPA can't recover lost money, just having the warnings here can save others from the same fate and make it harder for companies like this to keep wrecking people's accounts.
     
  6. BPC

    BPC Recruit

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    I was just wondering if anyone knew what the "scam" here was other than piss poor trading? How can this guy be profiting? Does he get some sort of deposit bonus or commission even from bad trades?

    I almost got sucked into this one myself..
     
  7. Pharaoh

    Pharaoh Colonel

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    There are 2 easy ways a bad account manager can still make plenty of money for himself:

    1. He's a referring IB and is getting a commission on each and every trade.

    2. He splits his clients into 2 groups. Group 1 places heavy long trades on a pair. Group 2 places heavy short trades. If price makes a solid move, one of the two groups makes profit and he gets a performance fee from them. The other group is wiped out. The group that makes a profit recommends him to friends, so he gains clients and repeats the split the next month.
     
    WilsonW likes this.
  8. marx27

    marx27 Recruit

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    I have the same problem just like you vanbuylaere but I lost a little amount money because I do not invest too much
     
  9. Pharaoh

    Pharaoh Colonel

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    Another reason to research before placing money.
     
  10. BigT1

    BigT1 Sergeant Major

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    What has this case got to do with FinFx?
    No doubt you should stay away from this trader, but what connection does this have to FinFx?
    Please be explicit, concise, and accurate, as your remarks effect many members.
    You have an obligation to explain.
    I am an NFA registered CTA, who has used FinFx for my own and client accounts.
    I consider them competent and professional brokers.
    What is the connection here?
    .
    Anthony Ingrassia, CTA
    NFA ID#: 0278164
     

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