Warning for FX Group, blew up my managed account

Hi traders,

A trader who has a thread called the FX Group at Forexfactory:

http://www.forexfactory.com/showthread.php?t=207012

has 'managed' my account.
No more than 3% risk per trade blablabla etc.
but he managed/succeeded to blow up my account in one day trading 10 (!) lots on my $ 5,000 account....only $445,- is left. Since then he quitted trading, also left a pending order on my platform which triggered-I had to close it by myself.
He is vanished-does not reply on emails or messages, but I will find him, perhaps with the help of this forum.
Beware of this amateur!

hei Talbot, i too am interested in the managed account program offered by FXgroup. i was so shocked to read your post. would u by anychance have a proof of your statement? if u could post it here it would help everyone to not fall for it !! thanks

Alpari Statement attached.

In my humble opinion the blowing up is because a mistake (of a zero) in lot size.

Dear Amiko,

first I thought also it was a mistake, but he also traded 5 lots sometimes, it looks like a cowboy is trading

beware traders, our friend is looking for more victims:

Hello everyone,

Please find attached the updated version of the system attached, note most of you already have this, but i am still getting requests too.

Also, i have decided to open 5 more managed account positions, as the current accounts are doing really well. Please contact me for more info.
I am also offering a "special deal" on the training scheme.

Lastly, you will be able to get your free signals from me here: www.smart-signal.com

I look forward to hearing from you.

FX Group.

beware, this trader is looking for more victims:

Hello everyone,

Please find attached the updated version of the system attached, note most of you already have this, but i am still getting requests too.

Also, i have decided to open 5 more managed account positions, as the current accounts are doing really well. Please contact me for more info.
I am also offering a "special deal" on the training scheme.

Lastly, you will be able to get your free signals from me here: www.smart-signal.com

I look forward to hearing from you.

FX Group.

I thought there was something fishy about fx group.

I contacted him and requested, before opening a managed account, to have the investor login to his alpari account which shows the huge profits to verify the statements he posted were legit and not BS.

He said he would email the login to me.

Of course it never arrived.

I followed up and he said he had been sick and he would send the login details.

Never arrived..

Now he won't return my emails or Skype's.

The statements he posted on his thread are obviously fabricated.

He's just another BS artist ripping people off.

The fx group scammer could have been stopped in his tracks if human beings stopped living in hope and did some due diligence.

In post 186 of his thread:

http://www.forexfactory.com/showthread.php?p=3482836

he posted an alleged statement from his "managed accounts".

You will note that at the bottom of the statement report it states:
Largest Profit Trade: 2 558.80 Largest Loss Trade: -1 651.00

If you take time to go through all the transactions on the statement you will discover that there are no trades for these amounts.

Therefore the entire statement has been doctored and fabricated.

No wonder he wouldn't provide the investor login to the Alpari demo account.

I love post 190 on that thread. It's a guy condemning another poster who dares to question the profitability of the system.

That guy Pips Queak epitomises the whole living in hope thing. Guess he now has egg on his face.

People deserve to lose their money to scammer when they are so stupid as to not do proper due diligence.

I am here to confirm the FX Group scammer also I have his skype, if someone wants it: fx-group1 , his name is Jim. And yes he uses 10lots, 5 lots for small acounts and blew them for less than a day. If someone wants we can make an organisation and prosecute those greedy bastards!

Thanks for coming forward and daring to speak up.

It seem there's an underlying element of unquestioning worship which has pervaded these forums. Almost cult mentality.

The moment you question anything in threads, brainwashed disciples leap out and resort to personal abuse and swearing to condemn you and some "senior member" suspends your membership.. for what? wanting to verify that it is worth your time reading a thousand page thread and trialling attached indicators?

They all leap forth and say that you're stupid and have no right to ask for proof of profitability and that you should spend time reading the thousand pages and make your own mind up...

To my mind there is nothing more stupid than spending a week reading a thousand pages of a thread when the thread has zero merit. Only a living in hope fool would do so.

It's about time someone called a spade a spade and demand that these self appointed messiahs prove their credibility and track record to establish the worth of their threads, BEFORE people invest time and potentially money in them and their contents.

In any case, I think everyone now knows about "Jim" after last night trade on the public demo account which closed for a $1,200 loss.

And yes, this trader was another fool which practiced a risk:reward ratio of well over 1:1, which never works long term.

The $1,200 loss wiped out 3 weeks of profits made up of many small $50-$150 winning trades.

The problem of course is that the 3 weeks of winners enticed more people in to the trap and now they have been cleaned out.

Do your due diligence is the only answer. And stop living in hope.

They go hand in hand.

As an account manager myself, I feel for what happened to you guys, really. It's guys like this that make it tough for guys like me to recruit future clients. I did have a question, did you sign an agreement stating that he was not liable for any of the losses incurred on the account? If not, you may have some legal leverage in recouping your money. If you did sign an agreement, depending how it is worded of course, you may have to chalk this one up as a bad judgment call and just move on.

I was wondering if someone have found him already? because i have also some things to do with him

if you go to donnaforexforum you will find that he was stealing signals from one service (wfx signals?)....and was confronted and unmasked by the provider and shut down after a lawsuit was threatened....he also stole indicators from profx and used them as his trading system...total scammer and coward! Also, he stole his profile from firepips.com on facebook...."I am a 29 year old trader, blah, blah, blah"

There's no point living in hope that you will ever find him, how on earth can you even think finding him is a possibility?

If you were going to do what he did, would you have given anyone your personal details? Of course not.

The best advice is to stop living in hope that you can get something for nothing in life in finding someone to make you money while you lounge by the pool rubbing baby oil on some tasty female.

In future, DEMAND EVIDENCE of someone's claims. If someone is touting their services in the public domain you have EVERY RIGHT to DEMAND that they prove their results publicly by ALLOWING YOU TO LOGIN TO THEIR ACCOUNT via the investor password. Forget statements, they are easily fabricated as FXGroup proved.

If someone balks at giving you investor access citing "privacy" or "confidentiality" reasons, they are a SCAMMER plain and simple.

Would you buy a new car without a test drive, or take a new medicine without evidence it's safe? Of course not, yet so many people are gullible enough and only too willing to buy into the hope these scammers are peddling without any real evidence whatsoever.