Pharaoh's Financial Blog
SCAM * HYIP * PONZI BUSTER

Pharaoh is one of the first members to sign up at the FPA. He's written some of the best advice available for forex traders. Read Pharaoh's articles and you're less likely to get scammed. If you've already been scammed bu a forex, binary options, or cryptocurrency company; he's written some advice on how to complain in ways to make the scammers sorry for what they did to you.

Recent

The End of a Scam

The End of a Scam

Two FPA members fell victim to the scam at Legend Trader Limited, a managed forex accounts service based in Hong Kong.

2529 Views
Wealth Protection for Traders and Investors II

Wealth Protection for Traders and Investors II

Three years ago in September of 2008, I wrote an article on Wealth Protection. It was a general overview of how to keep your money as safe as possible in the uncertain economic times during the banking crisis of 2008. I’m saddened to report that the world economy and the world of forex doesn’t seem to have settled down and looks even more dangerous than it was back in 2008. Let’s check up and see how things are going.

778 Views
How to trade the FPA’s Forex Daily Trading Signals

How to trade the FPA’s Forex Daily Trading Signals

Certain questions about how to interpret and trade the Daily Trading Signals come up over and over again in FPA’s forums. I’ve answered a lot of these at various times, but never put all the questions and answers in one place before.

1388 Views
How Not To Lose All Your Money With A Managed Forex Account

How Not To Lose All Your Money With A Managed Forex Account

Managed forex accounts present a decent opportunity for those who don’t have the time to learn how to trade forex or enough time to actually trade their own forex account to still make some profits from the forex market. They also open up investors to the triple threat of scam, incompetence, and bad brokers.

managed forex
15964 Views
Striking Back – Ethical Vengeance Against Scammers

Striking Back – Ethical Vengeance Against Scammers

I really like helping out the FPA’s investigators from time to time. They all try their best to help traders. When a company won’t cooperate in the face of evidence that money is owed to a trader, they file a report with the full Scam Investigations Committee and a Scam Confirmation is issued. They try hard to not label companies as scams, but some companies seem determined to gain that label.

forex scam
2121 Views
Wealth Protection for Traders and Investors

Wealth Protection for Traders and Investors

I’ve given advice on how to reduce your chances of getting scammed buying forex products, I also told you a method for picking a forex broker that meets your needs, I’ve given you advice on how to avoid losing everything to bad account management, and even warned you how improper risk management can wipe out your account even if you have a successful trading system. One thing I never talked about was what to do to protect your money if you become a very successful and wealthy forex trader.

1547 Views
Ponzi Schemes and HYIPs – Free Money Traps

Ponzi Schemes and HYIPs – Free Money Traps

With the collapse of Bernard Madoff’s 50 billion dollar investment fund, Ponzi schemes are very much in the news. Recently, the FPA investigated CRE Capitol Corporation and the TradeLite HYIP, both of which turned out to be Ponzi schemes. I’ve covered some of this before in my article about managed forex, but since so many people have lost so much money to both classic Ponzi schemes and HYIPS, I thought this style of scam deserved a more in-depth analysis.

9682 Views
Big, Swiss, and Safe?

Big, Swiss, and Safe?

Crown Forex should be one of the best brokers out there. It has a large customer base and is supposed to have a lot of money in the bank. Unlike a lot of “semi-Swiss” brokers that just have a virtual Swiss office, Crown has a real office in Switzerland and is a member of ARIF.

883 Views
How to select a forex broker

How to select a forex broker

Most recently, I wrote about how to avoid getting scammed while buying forex products. Finding a good forex broker is even more important.

forex broker
9050 Views
Make Your Trading Truly Worthwhile

Make Your Trading Truly Worthwhile

Back when the FPA was new, there was one unique bit of Felix’s philosophy that really struck me. What caught my attention was that he talked about always donating 10% of his trading profits to a worthy cause. He said that when he did this, new opportunities opened up, and when he didn’t do this, good opportunities were few and far between. This helped to resolve a deep ethical dilemma I have had with the whole concept of forex trading.

5495 Views
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Author Profile

Pharaoh

Pharaoh

Pharaoh is one of the FPA's oldest members (he claims to be about 4000 years old, but we think he's exaggerating a little). He says he created the world's first trading pair (Cow/Goat) while ruling ancient Egypt. Although there are no archeological or historical records to support this claim, we can't find anything to disprove it. Although he's not as active at the FPA as he used to be, he still holds the highest post count of all FPA members.

We don't understand how he does it, but Pharaoh has an uncanny ability to spot scams faster than anyone else we've seen. He claims to have known a number of companies were HYIP scams just by their domain names and that each time an examination of the website proved him right. He's also famous inside Forex Peace Army for warning about Ponzi schemes, even ones run by large and well established companies. He's been in a number of threads trying to warn people away from active Ponzi schemes. In spite of the efforts of shills and those gullible enough to believe in free money to discredit his words, he keeps up the warnings. In each case, the company ended up either disappearing with all client money or being shut down by the authorities.

In addition to investigating scams, Pharaoh has written a number of articles on a wide rage of trading topics, including forex broker selection, risk management, and how to select a good account manager. He's also covered other items of interest to traders, such as protecting wealth and purchasing precious metals.

Pharaoh claims to be a business consultant, but says he makes most of his income by running a globe-spanning hamster smuggling operation. If we are to believe him, he's currently working on a network of hamster tunnels under southern Europe.