hi guys
my friend just forwarded me one of the accounts with Gold Tinkle (Genesis Business Group 创峰) which blew up and LOSS ALL FUNDS IN ONE TRADE !!

yes, all gone in one trade.  and of course the money game scammer will try to blame it on IT problem, blame it on the trader or they will even blame that account has been hacked.......

haha this sounds familair right?  just right MIAFX or JJPTR

we have seen it before :

step 1. scammer show very good profit results...........
step 2. scammer posts the execellent results on myfxbook
step 3. scammer rolls out attractive monthly return
step 4. scammer rolls out strong "marketing plan" for investors to refer multi-level friends to earn more commissions
step 5. once scammer has collected enough money in the ponzi/pyramid scheme.........suddenly ONE or TWO LARGE ORDERS to wipe out the entire account of all investors and take all money and say bye bye
what are all the warning signs :
1. the platform is new and not famous at all - check on forexpeacearmy  - has zero ranking
2. the platform or the HQ of the company is not based in stronger regulation countries like Singapore or Australia but in far remote small countries
3. VERY IMPORTANT : check on lowyat forum Dr FX scam list  !!
4. VERY IMPORTANT : check with trader friends - NO ONE has heard of and NO ONE has used it before for real trading.......it seems as though the platform for created purely for the investment plan
5. VERY IMPORTANT : they will never dare to show live trades at all to anyone because they can not make money in real trades

hopefully in time, more people will become more aware of the advacned warnings given in lowyat forum Dr FX list

No, they didnt renew their license

Yes, AxiTrader ASIC license is valid. They also have UK FCA and Dubai DFSA license.

You can open an account here for 20% credit.
http://www.axitrader.com/int/live-account?promocode=871263

Due to Australia regulator new upcoming policy, many AFSL brokers no longer accept foreign investors/traders including IC Markets, AxiTraders, FXCM, MexExchange, FXTrading.com, Trademax, etc. Same happened to UK in the past when ESMA limit the leverage to 1:50 for retail clients, many UK brokers move foreign investors/traders to offshore but maintaining UK license.

These brokers are forced to migrate and accept foreign investors under offshore license with insurance protection. As long as they are big and reputable brokers, nothing to worry about. They are required to comply to UK or Australia ASIC rules to maintain their licenses.

AxiTrader has seperated their web site into few different division. You can find out their licenses detail on these web site.
https://www.axitrader.com/uk
https://www.axitrader.com/au

Trade with Pepperstone if you prefer your account to stay with Australia ASIC for the time being. Not sure when they will follow the new policy as well.

Pepperstone
http://trk.pepperstonepartners.com/aff_c?o...45&aff_id=16162

hi guys, recently was approached by an old friend. He shared me this:

https://www.myfxbook.com/members/sealarkfth...-usd-5k/7481507

Anyone heard about this slk thingy?

Never try before. It's an old branding that used to be very active in Malaysia among Malay friends.

What are you looking for?

There are better brokers for self trading.

Anyone here able to verify authencity of FDX Capital??
Victimised before? Unable to withdraw? Wanna do a background check on it

We never try this broker before. It is an UK FCA broker. Any special offer from this broker?

Yeah bro,

My friend kept asking me to invest since Nov 2020. Said he had invested for over a year already. Showed me some LIVE trading videos & just to oblige him, I also joined a few weekly zoom meetings to listen to the presentation & testimony from other members. Even told me that he has met the country 'manyzer' from Penang before. In April, I had lunch with him & told him something is really 'off' about this investment scheme. There was very little accountability. I felt uncomfortable.

Firstly, he told me YURI is a new investment plan. GM1 & GM2 + other fanciful naming plans, already full liao. Then when I probed further about the trader's profile, he said YURI is actually not a specific individual, but a group of traders trading under the YURI banner. Oh, how convenient, so now we have a bunch of faceless, nameless traders, but we're to fully entrust them with our funds? Easier to pull an exit plan, eh?   

He unfriended me that very same afternoon! WhatsApp also block. Profile can't see liao. Msgs also single grey tick only It's been 2 months since. A friend that I've known for 20 years. I guess he took offence, when I questioned his investment decisions.

I've been doing fx for more than 15 years, & I didn't quite understand how you could scam through PAMM. Then it hit me, in order to manipulate data, you basically need to fully own the brokerage, in order to purchase MT4 from Boston Technologies & have full control over the back office, front office, basically a top-down operation.
It always begin with 'testing the water' with a small amount. No harm, right?

Then, when they give you a few cycles of returns, it reinforces you with fake confidence & you plough in more capital. It sucks you in. That's when you'll get badly burnt. All ponzi schemes practice the same MO. They will collapse, once payouts exceed deposits. That's why they have to actively recruit, incentives paid in the form of referral fees from the 'pool'. In the mean time, they put you on a 'slow drip' of 5-7% paid out, only every 5 weeks.

Heck, my 'ex-friend' kept reinvesting his returns, hoping to compound his profits. Everyone wants the snowball effect. So in reality, how many actually withdraw anything? Some do, but majority of the investors don't. Because until you see $$$ in your bank account, the profits paid out to you, are just 'numbers' shown on their software. They're just 'numbers'. A few clicks later, & you have just 'reinvested' & got your funds locked in for another cycle.

It's a psychological aspect that these scammers use to their full advantage. They know that most people are greedy by nature.

1 cycle every 5 wks. They give you 5-7% ROI. So how many months are they actually paying you profits, from your 'own' money?

Regarding the funding account part, I personally has FXTM account, and the funding method using local online banking is pretty much the same with the one you illustrated above. They use PayTrust88, and same thing it didn't redirect  to the banking side but require me to enter baking username and password. For security reasons, I always change my online banking password after transferred the money into my FXTM account.

Furthermore , one thing quite funny was the transaction appear at my baking statement will show funny company name.

It is recommended to give your credit card bank a call before you make the deposit to let them know that you are going to perform the transaction.

Remember to keep your record or letter that your card has been terminated in case any withdrawal required in future.

I have deposited several times to Pepperstone and IC Markets using Citibank credit card. So far everything fine.