Okay so here's the whole story.

This guy is an Indian student that's been trading for five years now.

He is 17 this year.

He opened a company called EmpireFX which I never heard of it before.

This company is about forex trading one.

He told me that :

-His company under dcw (DCW) Prestige
-His company got New Zealand license for FX
-Minimum investment is 1000 USD
-Not guaranteed profit
-Uses MT4 (wth is this) to trade


Because he's introduced to me through a good friend of mine,

so he's offering me to only invest RM500 in this .

The balance of RM3.3k will be paid back once my account starts to generate profits (if possible) .

The profits generated by my account will be split 50:50 .

Once I managed to pay back the balance of 3.3k, he'll not split anymore the profits.

The catch :
-I must pay him the RM500 by Sunday.
-I cannot touch the MT4 account before I"m good with it.
-Google search shows nothing about this (0r maybe I sucked at searching).


Sifu-sifu sekalian out there , please shed some light !
I dw to waste RM500 because I'm still a student and RM500 means a lot to me !


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Update #1 : https://forum.lowyat.net/index.php?showtopi...post&p=74673588

This post has been edited by Y.J.S: Jun 1 2015, 12:47 PM

No, don't waste a cent.

MT4 is a Forex trading platform. If you don't know what it is, and he hasn't given you any more information, you are guaranteed to lose money.

Save your RM500, and you need to pay me only RM5 for that advice. (just joking).

if donno / not sure, better to avoid from joining it....

enuf said

Can you explain more for the bold part?

He said he's a good trader wor

Some more himself will also deposit RM3.3k inside my account (because min amount to open acc is 1000 usd = 3.8k) so if lose money how I repay money back to him ??

he start trade from 12 years old ?

5 years so must be from 13 because including his 5th year mah

Btw he told me his company , EmpireFX just opened 4 months ago under dcw prestige.

He previously worked in isc (wth is this)

In MT4, he can give you access to an "investor" account where you view-only his trading activities, live, as it happens.

If you see him consistently making money with a real account, you may decide to invest then.

So ask him for an investor username/password and see for yourself.

But what if he gives me an investor username/password that doesn't belong to him ??

Anyway to verify ?

Doesn't matter.

Let's say he gave you a username/password that doesn't belong to him, BUT you see the profitable trades being done (by someone unknown), you can copy the same trade using your own account.

But don't worry, if someone actually has access to a profitable system, they would be too busy making money instead of wasting time trying to sell you something.

Yeah something is suspicious.

At first he said RM1800 is okay, the balance RM2000 he can pay for me.

But the condition is I have to clear the sum of RM1800 by Sunday.

Then I said I have no money nor impossible to acquire RM1800 by Sunday because my cash left RM500 only.

Then he said ok again RM500 no problem but have to pay by Sunday .

And as for the trading pattern, I don't know anything about Forex and I don't know how to use MT4.

Can you gimme an easy way to login investor account if there is any ?

Thank you !

Don't put money into what you don't understand.

To invest, first you must understand what you are investing in. There are no short-cuts.

My advice is focus on your studies.

You don't understand ...

My school fees cost a bomb and my parents are getting angrier at me for spending so much ...

I do understand. If there is a fast and easy way to pay school fees, I'm not aware of it.

But I'm sure if you put money into this, you will be even worse off. The rest is up to you.

smells fishy

Then don't cost them more, Forex is not a get rich quick method,
and Rule.2 Don't ever use money you CAN'T afford to lose,
Empire FX or FX Empire? Both different sequence but big difference,
ask him show you his so called website, is he desperate for your funds?
Keep pestering you to deposit? Stay away then, But I cannot make assumptions,
maybe he's a 17 year old forex genius, ask him to provide verified track record

Here's the fkin obvious big catch, I can tell you I'm a fkin good trader too,
and I say hey let me top up funds so you can earn money!
ask yourself:
1) Why would someone wanna help me earn money instead of earning it himself?
2) He trades and he loses money and you need to be a freaking scape-goat to pay for his so called pro trading losses!?
3) How you know he's a good trader when you yourself don't know what trading is?

sorry for double posting anyway, save the 500, invest in yourself,
study more, learn more and good luck

Us that rm500 to enter basic forex classses
Heck,u can find free classes if u search enuf

Get a detailed statement from his MT4. Then show it here, I will tell you if it is a risky investment.

Some investors will give, some don't. Assuming that he doesn't want to give, you ask him these 3 things:
1. How many percentage could he make a month.
2. How many percentage is his maximal drawdown.
3. Briefly describe his strategy.

Forex is a very high risk investment. Be careful.

A good forex trader can make rm500 in no time. He can just wait for a week and get himself the rm500 by trading, so why even need you?

my advice.. keep your RM 500..

U cant take the heat of forex...

Still a student but want to find fast money. What a joke.
Now I understand why Ponzi schemes still can stand until today.

I know EmpireFX and FX Empire are both very different things.
His is EmpireFX which I never heard of and probably he doesn't even have a website

But why he needs only RM500 for me ? strange

Alright , will ask

Btw how do I know if he really opened an account for me in MT4 that has 1000 USD in it ?

Yeah why ??

If you want a ponzi scheme that need rm50 to start, I can introduce you.

Sure or not ??

On your previous post you already mocking my stupidity ler

I never mock you, it is the dirty fact that youngsters like you sure will deny.
Ponzi schemes in this world are developed to cheat money from low income earners till high income earners.
When a website can't find anything, it is already known to be scam. But yet just because your intention still want to make fast money, that's why you are trying look for people to support your move.
Already got few people warn you on this with the soft way but yet you refuse to understand them. So I'll just be the "bad" guy to wake you up.
Under such ponzi scheme, nobody is mocking up your stupidity, is you your self that mocking your self up.

Sorry to say Forex isn't a kids game (you sure its not his dad's account?), if his good at it where is his potential customer & testimony? And for you please continue your study & stop thinking of earning quick money from all this, you can work part time at night if you are willing.

Hi bro,

The rule is the higher the returns, the higher the risk. I know of one personally that by depositing in RM1000, you will get RM100 back the next month. So assuming no loss, you make 120% in a year. Sounds good eh? But let me tell you. Instead of you earning RM100, you can just lose RM1000 just like that. No refunds nothing. And that one my friend admit is a scam. But he knows when to pull out and when to dive in. He lost almost 90% before.

That's why if I were you, I will stick to the safe ones. FD, ASX, Reits. Their returns maybe small but returns is still returns. Golden rule is SAVE If you like to buy new phones every year, hanging out in pub/club/karaoke/frequent mamak/frquent movies, you need to cut back and start saving. Let your friends do that. In the end, you will have the last laugh as you have more money than them.

Ok ok so any reputable schemes that come with a website?

A lot of my friends told me he brought his laptop to school to show off how he makes money off MT4 .

That's why it is quite persuasive but maybe he's just being lucky, idk

What's the min amount for Fixed Deposit?

Edit : I think I should save another RM500 for this : https://ringgitplus.com/en/fixed-deposit/Ma...ed-Deposit.html

This post has been edited by Y.J.S: May 30 2015, 09:54 AM

May I add a little spice on that....
NOT just SAVE but, "Save and Invest wisely"......because

“Which investor gets rich by putting all his / her monies in savings accounts?” – Dr. Tan Chong Koay

If you look at kids these day, only know how to party/watch movies/drinking starbucks like drinking water, you will be surprise any of them have any savings at the age of 30.

As what some people said, concentrate on your studies.
Playing with forex need a lot of time, it won' do any good for you.
I have a friend that open his account by his own and he is making rm30-40k a month. But when he lose money, the amount are not small also. Yet, he is still a millionaire.

Luck does not play apart in Forex, he brings laptop to school what is there to show during that time of the day? trade only starts around midnight our time. Are you sure his not playing with the Test simulation?

This post has been edited by IccyAsd: May 30 2015, 10:03 AM

So ... is majoring in Econ/Finance best choice to enter into trading world?


Yeah no idea

They said he brought 1 day then another day came back with profits (something like that)

Just look at Lowyat FD threads. Good info. Also if you have time, read Gen-x's blog from the first post. If you have a speciific skill, you can work on the go. Eg designing, writing. I have a friend who earns in USD just by working part time. She found jobs online. She saves every sen of it to buy a house. Still far but at least I think she can afford 5% of the house already.

and also, possibilities due to High cost of leaving, poor public transport system leading to need to drive, need of networking for career/business (linkages) gatherings.....
pay - EPF - tax-car loan/expenses - others = not much left to save....
some end up joining MLM and ended up worst...cos convinced that their MLM products EVENTHOUGH more expensive but are "better" and "worth it"...thus spend more.
some end up joining quick rich schemes because convinced that their scheme are good and genuine....."some" ended up scammed.
some end up joining the investment world because convinced that their investment vehicle are "sure bets"...eventhough with limited knowledge they processes.....thus ended up....

This post has been edited by yklooi: May 30 2015, 10:31 AM

I saw a lot terms about 3 months 12 months to get a certain percentage of returns.

What does the "months" means ?

Is it I have to deposit for say RM1000 for 3 months straight (=RM3000) to get the returns ?

Usually these "money managers" have 2 approaches in managing investors money.
1. They pool all the money and place it in one account.
2. They separate the accounts for each investor.

Since he didn't ask you to set up an account under your own name, I am assuming that he is putting the investors' money into one account (under his name/ his company's name). If this is the case, it is difficult for you to know if your money is injected into the account even if he shows you the account. If he has 5 million in the account, how will you know if your 500 is in there? Not possible.

some screenshots


Attached thumbnail(s)

Anyway sir he replied me saying that I should create an account in MT4 under my name.

But then he'll trade for me and show me some techniques before I get to trade by myself.

So if the account is mine, am I able to monitor the process and know how much is it in there right ?

Awww so mean

Don't la, be patient you know

save one life can prevent from entering hell

That's good because he cannot withdraw your money. But he can definitely lose all your money. Judging from the way he talks (from the screenshot), I doubt his professionalism. Just my thoughts, he might be a genuine one.

Yes, you can see if your money is there.

Check this link:
http://thefxview.com/2013/08/05/difference...-pamm-accounts/

I personally will not invest until he shows me his myfxbook account or his MT4 Detailed Statement.

This post has been edited by carrer: May 30 2015, 11:57 AM

The bold part is the important one , right?

I'll try to ask from him,

If he gave me ler, I show you okay?

Okay, you can PM me if you don't want to put it here.

Detailed Statement

carrer

This post has been edited by Y.J.S: May 30 2015, 12:51 PM


Attached thumbnail(s)

Based on this statement I cannot judge. A detailed statement has to be generated from MT4.

Looks like he is scalping (taking small profits). So, I really cannot tell you.

EDIT:

I have checked his Instagram. He probably doesn't need your money (500). If he needs your money to invest with him, something is really wrong.
He could make USD 500 in a few minutes, why would he need your 500?

This post has been edited by carrer: May 30 2015, 01:18 PM

Nope, gambler.
Need to got on econ for forex and stocks? You are wrong.

What might gone wrong?

Maybe he's just helping ?

Because as I mentioned earlier, he was introduced to me by a good friend of mine (which happened to be a gangster) , so maybe he's scared of offending me and my friend ?

main point.. TS please take note.. tis is your answer

pening kepala ni

If you are willing to risk your 500, then why not.

No pain no gain. If it turns out to be true, you will be richer. If it turns out to be a scam, well, you learned it the hard way. Next time you will be more careful.

Either way, "you win".

Roger that !

Yeah

As for now, I'll study first

Let us know the outcome!

Please share us the technique he uses in trading for us to study too if it's working...

Problem is I don't know how the whole MT4 platform works.

How to put 1000 USD to create an account ? What account ?

How to see the losses and gains ?

How to enable this EmpireFX to trade my account without able to withdraw the money ?

Why dont you try it yourself using mt4 demo account?then you will know the ins and out of it.

Just download it, free for everybody.

This is what happened.

Nothing to show up.


Attached thumbnail(s)

looks like the thread is getting more interesting

Try clicking on different timeframe, H1 or D1.

And for fund management I think you will need a license
in malaysia, anything happens maybe you can sue him LOL

In Malaysia, you will not get the license easily. Unless you know 'somebody'. I have never heard of any hedge funds in Malaysia. To set up a fund, Singapore is a better place.

I know right... what could possibly go wrong with giving money to an someone you meet through a gangster?

Market closed, no updates on weekends.

Wait until Monday morning. If still a problem, you have to close and re-open those "waiting" windows.

Short sell is not allowed in Malaysia mah

Bless me please

Alright thanks

Update :

Just met the leader 20 minutes ago.

Paid RM250 . He's giving me 2 weeks time to pay the remaining RM250.

He'll open an account for me under my name and my bank account.

Leader LOL when did his status upgraded, good luck anyway

met the leader

I'm his downline calling him leader sounds good , ain't it ?

btw i'm shocked to see many of my members are under him

And one of his 3 partners live 8 houses away from me only OMG what a coincidence

Then he must be an IB (Introducing Broker). He gets commissions on every trade that you make. That's how he earns.

EDIT:
Example:
http://www.fxprimus.com/en/partners/introducing-broker


This post has been edited by carrer: May 31 2015, 11:31 PM

ya ya he said that ! Every lot I profit will earn him 2% commission !

Getting popcorn ready...

Is this true ?


Attached thumbnail(s)

Yes, you have to key in during the withdrawal. But before that it has to be linked. You cannot simply key in any bank account number.

But I can only use the same bank account permanently ??

I have a junior savings account now but after 18, i am not eligible for it anymore

Usually they will allow you to add more than one bank account. However, it's better for you to create a new savings account.

how did u registered for an account without knowing the broker's name???

Thank you
Will open a joint savings account this Friday

Yes, I do. I know the broker's name.

Do you have access to your account?

Normally you can just sign-up yourself, so why the need for 3rd party?

Yes, I can access my account.

Because if sign up under a broker, he can earn commission so do I if I ever introduced anyone under me.

i think u better bkful with this. cause a real forex don't require such amount of investment. I had form a /k forex group with several /k members with me.

im not broker either I'm just a normal trader and we all are. those kind of forex is a scam. u might not get back a single cent later.

And they will be angrier once u throw away RM500

I'm trading via Phillip, per trade is 100,000 units for online, and 300,000 for call in.

margin is 5%

typical spread for my USD/MYR is 25~50

I dont see how the amount of investment can be small... I easily need to put 5 digit USD in to have a workable margin to cushion the movements

thats standard account, u might need search some broker provide micro account for traders. I don't work on standard lot size account, we trade small earn small. i believe u might have sleepless night during your trades

Not really no.

I'm used to trading commodities.

If really cannot afford to cushion, put stops lor.

invest on stock thn forex la..
how many people can earn alot in forex??
first show u earning unrealized profit before u go sleep..once u wake up u loss everything..

Can add me into the group? I wanna learn more

Phillip is a Singapore broker, MAS limits their leverage. That's the maximum they could give you, 5% or 1:20 leverage. But other brokers outside Singapore offer more leverage, some 1:500. So, they don't need much capital. Some brokers also offer Mini or Micro account, even smaller capital is needed.

I also only trade gold. But I make sure my account have 100 times more than what I trade. Trade $10.. I'll make sure my account have $1000 to back up.

Cause sometime market go havoc, we will need back up. Hehe