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CapitalBlu.com (profxalerts.com) Review

Updated: Aug 14, 2017
SCAM
2.862 · 22 REVIEWS
Is this your company?

WARNING: The CFTC has charged this company with fraud. Please read the discussion thread for more info.

This company is now blacklisted by the FPA and is considered to be a SCAM.

Feb 2011 Update:  The CFTC won the case.  Click here to read the press release.

Website is down.  Company shut down by regulatory action.

CapitalBlu.com (profxalerts.com)

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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
20092009-04-28FPA Scam Confirmation against CapitalBlueguilty

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Scam!
2.862 · 22 REVIEWS
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hardtime,
Florida,
Feb 4, 2011,
Guest

FYI... Don and Damien just lost the civil case brought by the CFTC. As of February 3, 2011.

Review Moderation Team Note: Thanks for the update. Here's the link...

http://www.cftc.gov/PressRoom/PressReleases/pr5980-11.html
FPA Scam Investigations Committee,
USA,
Apr 28, 2009,
Guest

Issue escalated to Traders Court FPA Scam Confirmation against CapitalBlue | GUILTY
The CFTC has charged this company and it's management with fraud. This matches the more recent complaints in the reviews.

More. Community discussion of this issue >>

James J Gross,
Pembroke Pines, FL,
Feb 9, 2009,
Guest

I have submitted $100,00 check to Cap Blu on 05 AUG 08 and never have heard from them again. Not even a single statement, but, of course the check is cashed. Now they are under investigation. They apprarently weren't even registered in the state of Florida to offer these services. It seems no shortage of crooks or frauds and the "enforcers" are always "catching up", after the fact.
RB,
USA,
Nov 20, 2008,
Guest

Arizona Greg. are you part of the Fund or were you just a managed account? i ask because there seems to be a big mix up of who affected what. are you looking for folks related to the Fund, managed accounts or both? i think the managed accounts are hard pressed for retribution (due to risk dislosure), but the fund might be a different situation. i'm not a lawyer so i couldn't say but i've been down this road and its' a steep one. interested to hear your response.
Greg In Arizona,
Arizona,
Nov 12, 2008,
Guest

WARNING Blaine Davis is a liar and so is Damian and Don. They set me up with an account that was managed starting at $405,000. Within 3 months the account hit a low of $7000 after the Aug 8th drawdown. I was promised it would be brought back to the starting value by the end of the month. Fat chance. They took fees that were not due and never paid them back, they leveraged the account way higher than I gave authority to do so which is part of the massive loss I took. This money was all that I had and these dirtballs I understand are out looking for new investors (suckers) to rip off. If anyone would like to join forces and sue the c*** out of all of them all, I can lead the charge. They need their mercedes and Bentleys and homes taken away from them. My email is gregamstutz@hotmail.com. Once I have a large enough group to go after them, I will notify you and we can discuss the costs of an attorney in Florida. In the meantime, everyone keep your cool, and we'll get these dirtbags thrown in jail. If everyone passes, we will not get squat and you lose it all in the end. Lets get these guys!!!
Current CBM FX Fund Client,
USA,
Oct 2, 2008,
Guest

The NFA took an emergency regulatory action against Capital Blu on Sept 16, freezing all their brokerage accounts. It appears that client funds were either lost or transferred out prior to this action, leaving basically no money in the frozen accounts. Capital Blu is now under investigation by the CFTC as well. When I called Capital Blu a week or two ago, they referred me to their attorney, who of course did not return my call. Now phone calls are answered by voice mail and you're asked to leave a message. Thus far, I have had no success in recovering any funds. If any funds are recovered, any movement back to clients would now be under jurisdiction of the federal agencies conducting the investigation. The amazing thing is they are still sending out their ProFX Alerts, so they evidently aren't totally shut down.
CL,
Texas,
Sep 25, 2008,
Guest

I have suffered an 80 % drawdown of from Capital Blu in the first month of trading. I previuosly posted a good rating since Blaine Davis promised to make me whole. Now Baline Davis has been fired. You can go to the following link to read my story.Capital Blu has refused to make my account whole as they said that they would.

www.mthebrongroup.com/capitalblu

2008-08-01 4 Stars I posted previous concnering my drawdown in Capital Blu.

After speaking with Capital Blu's Senior partner Blaine Davis and Joe Mills (Chief of Marketing), I have been assured that they are going to make my account whole. There was a techincal problem with the account and they are working overtime to remedy my account.

At this point, Capital Blu has assured me that they will find a remedy to this situation. I will post the outcome.


2008-08-15 1 Star I invested 41000 with Capital Blu Bwnchmark Options account mid July. they posted 6 months track record of audited performance. The account immediately was negative. they explained that the boptions were out of the money, when indeed they were in the money. They said wait until they expire. To my shock yesterday my account had drawn down 85% with no recourse. This has been a very costly lesson. I revoked the LPOA with 8500 left in the account. Consider yourself warned !!!
Current CBM FX Fund Client,
USA,
Sep 12, 2008,
Guest

Capital Blu has frozen their premier CBM FX Fund. Statements are currently unavailable. Capital Blu says they will give us more detail on a conference call next week. I recommend not committing new funds until the current situation is resolved. The projected freeze period is through the remainder of 2008. I am hoping funds will exist in January 2009 to retrieve for current clients. It seems Capital Blu traders for the CBM FX Fund possibly got caught on the wrong side of the recent dollar move without appropriate risk management in place, and may have taken significant losses to which they haven't fully fessed up yet. This scenario would be consistent with the previous posting. I understand a complaint has been opened with the NFA. I will update this rating in January, 2009.
Oscar Gomez,
Sao Paulo,
Aug 17, 2008,
Guest

I am professional FX trader since 2002 and using ProFX Alerts since June 2008. I am pleased with the results and the professional traders at ProFx Alerts identify profitable trades better than anyone I have used and even better than I can do. I spend 12-14 hours a day trading FX and my results on the accounts I manage have gained more in 3 months using ProFx alerts than in 12 months before using their alert service. But Pro Fx Alerts is very good at identifying profitable trades, they exit their trades too soon. My results have been far better than their results because I will keep my trades till their target. I do not know why they exit too soon, but most of the trades reach the target. Also, I read their blog several times a day and this helps me alot. But here I confused, because on August 6 they recommended several trades, one in specific was the USDCHF buy with a 1.1012 target. So, I bought USDCHF on August 6th at 1.0585 and closed it August 15 at 1.1000 for +415 pips. Please ProFx alerts, help me know why you close your trades too soon.
SC Marler,
Oklahoma City, OK, U.S.A.,
Aug 9, 2008,
Guest

I just started trading these signals a few days ago. I am not quite ready to assign them a rating just yet. I have to say that I am impressed with some of their identified trades, but so far it seems I have been unable to replicate their results to my liking. By the time I get the signal and enter the trade (which is as fast as I think a human being can do - I am constantly glued to my screen), and then again exit on the close-trade alert, it seems that a shift of roughly 5 PIPs has transpired consistently in the negative, resulting in small losses where they record small gains, and lesser gains and greater losses than what their history reflects It is a rather small and almost menial change, but with so many trades resulting in low totals (either way) I could see how it could really add up over the month.

I would certainly not call them dishonest - if anything I might accredit some of this to the difference in price my broker (Alpari-U.S.) is quoting than their's (apparently FOREX.com). I like their signals and would love them I should think if only I could get my results closer to their's consistently. i would be happy with a 1-3 PIP deviation.

As for the signals themselves - I think they could improve upon the actual alert tones a bit, but it isn't a very significant issue. What I would rather see them do actually is leave closed trades on the alert screen for a short while, perhaps shaded or highlighted in red or something to indicate the position having been closed, rather than instantly relegating it to the history screen. The reason being that if there are three or so positions open, and one closes, precious seconds are spent after the alert tone ascertaining which pair was exited and then closing the position on your terminal platform. Again it isn't like it takes very long, but every second counts when you are scalping, I'd submit.

Overall I am eager to get more data and be able to form a more thorough overall opinion. I hear they are intending to release a black-box platform of some sort in the coming weeks - I will look forward to seeing that product with great interest indeed. It may be exactly what I'm in sore need of to alleviate my initial concerns.

-SC