Currensee is a SECURITY RISK | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Security for Ea 13 replies

Interbank Security Breach 15 replies

Security of Trader's Funds 16 replies

Internet Security 3 replies

Attachments: Currensee is a SECURITY RISK
Exit Attachments

Currensee is a SECURITY RISK

  • #21
  • Jul 4, 2010 10:09am Jul 4, 2010 10:09am
Quoting asafyigal
I couldn't find BRV but it sure seems like James16 is using this forum to attract traders to purchase his training package - ever wondered why he is not in the commercial forum? Try having him link his real account to Currensee (or other site that can show his real performance) and lets see if he can trade or not.

-- Asaf.
I'm not going to "try to have him link to your site". He has nothing to prove to you. You are the one who said you can "guarantee" that the traders Rednose referred to (J16,Merlin, Bemac, PeterFM, Ak4x, BillyRay) are not very successful traders. That statement leaves the burden of proof on you, not them. So tell us how you know and can guarantee that they are not successful traders.

Your site may be the most wonderful place in the world. It may be of even more value than you claim. But when you come here slamming this site and it's membership, and "guaranteeing" (not implying, questioning, or suggesting--but "guaranteeing") that some of our best and kindest contributors are not very successful traders (without being able to back it up), everything else you say becomes suspect. But I guess you'll never get that.
  • #22
  • Jul 4, 2010 11:31am Jul 4, 2010 11:31am
Quoting asafyigal
I couldn't find BRV but it sure seems like James16 is using this forum to attract traders to purchase his training package - ever wondered why he is not in the commercial forum? Try having him link his real account to Currensee (or other site that can show his real performance) and lets see if he can trade or not.

-- Asaf.
He is, just not in the under evaluation section like you are.. And by the way, J16 has been around this forum helping other for a long time for free.
Attached Image
  • #23
  • Jul 4, 2010 3:16pm Jul 4, 2010 3:16pm
Quoting asafyigal
...n collaboration with real traders take the leap and if you are just here to commiserate then just stay on Forex Factory.
-- Asaf.
Ahhh, what a sweet guy, and such a nice family picture in the profile, I bet he is organizing a nice 4th of July fundraiser to help needy children...but just in case I am wrong.....I say let's email some of the brokers he claims endorse the currensee site and see what the brokers have to say?
  • #24
  • Edited 4:50pm Jul 4, 2010 3:44pm | Edited 4:50pm
Quoting asafyigal
First of all regarding the broker connectivity, we only as credentials from three brokers, OANDA, Forex.com and MBTrading -
-- Asaf.
Well Forex.com does not surprise me, http://www.nfa.futures.org/basicnet/...px?seqnum=2461 (HOW COME CURRENSEE SOCIAL TRADING NETWORK DID NOT TALK ABOUT THIS PRIOR TO THE NFA STEEPING IN??? I mean, there is a self serving post on the site's blog that states that it can detect scams???http://blog.currensee.com/2010/06/sc...hern-exposure/ ) "I hate to be self-serving here, but I must. If his clients required him to register on Currensee (as a free service, I might add), these customers would have seen his real results, including win/loss P&L, trade-by-trade recaps, etc. on a daily basis, along with a detailed comparison of his business against the other traders on the Currensee platform."

But MBTrading, come on man, I use them for MT4 ECN and you have to have a security key downloaded to the MT4 directory in order to use a live account, on top of user ID and PW....that is quite surprising to say the least....are you collecting the security key file too????

"What is the purpose of the RSA Advanced Security key?
 The security of our clients, their personal information, and funds is a priority to MB Trading. As a firm it is our responsibility to take all measures possible to ensure our clients security needs are met. The MetaTrader 4 trading platform offers Advanced Security authentication, which is based on the use of 1024-bit RSA encryption. All authentic data of the account, apart from common encryption, will be additionally signed with a numeric key automatically generated the first time a customer logs into his/her account using the Metatrader Client.

Upon a client’s first login to his account, a window will pop-up with a black area in the middle. The client is prompted to hover the cursor over the black area to generate the key. Once the generation is completed a file will have been created in the following directory Crogram FilesMetaTrader 4config. This is the default installation location of MetaTrader, but a client could possibly change this during installation. However the key file will always be in the config folder in MetaTrader directory.

Clients will only be able to login to their account with their Master password on a computer that has the key file in their config folder. However they can use their investor password (read only) on any computer."
http://www.mbtrading.com/metaTrader4.aspx
  • #25
  • Jul 4, 2010 6:42pm Jul 4, 2010 6:42pm
Quoting asafyigal
None of the brokers pay commission for the traders in Currensee - we don't make a dime from the free community this was all done to help traders communicate better.
Got a statement from the brokers to prove that? If you got some kind of agreement term with them this must be written somewhere. Prove it.


"Social network for currency traders Currensee has raised $8M in Series B funding led by prior backer NorthBridge Venture Partners and joined by new investor Egan - Managed Capital."...more here.

So you are doing all this charity just to help people make money huh?

I bet you are.... but the ones who gonna make money are not the traders right? or have this companies gave you this 12 MILLION dollars to help retailers make money?

Hard to believe.


From here:

"Deal structure

Our investments typically take the form of Convertible Preferred Stock with the traditional protections afforded institutional investors like us. These include Registration Rights, Voting Agreements, etc. Since providing assistance to our portfolio companies is such an important part of our investment philosophy, we nearly always require a board seat. We find that by being an active member of the Board of Directors we are in a position to share our insights and participate in the strategic direction of the Company."



Quoting asafyigal
I got it and yet they cannot be discussed on a demo graph .... so yes set ups on Demo are not even close to reality
Do the FIB tools work on DEMO? are candlesticks patterns recognizable on DEMO? Can you draw trend lines on DEMO? etc..etc..read the words : IDEAS/CONCEPTS. I don´t need a real account statement to know if what someone is telling/showing me makes sense or not.

ps- A little disclaimer at your page :

2010 Currensee, Inc. | Currensee is member #0403251 of the National Futures Association (NFA) | Please note that over the counter retail foreign currency (Forex) may involve significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Even with login/account information??


Quoting asafyigal
...that you don't know if the person is taking the trade and how he manage the risk while in the trade. When you have a set up that you believe in and you trade in a real account and after the first hour your account is down $1000 you are starting to think that might have been wrong, in a demo you close the screen go have dinned and come back to a winning trade - so yes set ups on Demo are not even close to reality.
If I tell you for example that I use a SL from X pips and after X pips I trail my stop on X pips or take profit at X pips...do you need a real account statement to understand it??
It is not that hard is it?...and again: "I don´t need a real account statement to know if what someone is telling/showing me makes sense or not."


Quoting asafyigal
Nop - These are bloggers not traders and I didn't ask them anything - just been following their blogs - is this wrong?
You are the guy claiming that if I don´t know if a guy is "real" trader by seeing his real account statements I should not trust him and you are telling me to take advice on trading matters from a blogger?...get real..

Quoting asafyigal
How many times can I say - I am not here to recruit anyone - we don't make money from the traders - I am just here trying to answer the question of security and privacy and you are attacking me.
From your posts:

asafyigal
Commercial Member
Member Since Jul 2009
11 Posts

http://cdn.forexfactory.com/images/icons/icon1.gif What information are you looking for?
You can join for free and see all the information you need.

-- Asaf.


asafyigal
Commercial Member
Member Since Jul 2009
11 Posts

http://cdn.forexfactory.com/images/icons/icon1.gif You've read our mind
We're developing a way to automatically replicate trades from successful Currensee users. Stay tuned.

-- Asaf.




asafyigal
Commercial Member
Member Since Jul 2009
11 Posts

http://cdn.forexfactory.com/images/icons/icon1.gif You can Friend me on Currensee and I will recommend a few traders to you
Search me - Asaf Yigal

-- Asaf.

Want more? read your own posts!




Quoting asafyigal
I also don't think that people here are idiots, in fact most of traders that come to Currensee indicate in their registration that they are from FF and apparently were disseminated by the lack of transparency.
Please try to be direct and find some intelligent answers.


Quoting asafyigal
Well - There is only one solution to it - have them sign to Currensee with their real accounts and lets see if they are any good - and I am not trying to convince them to join or you or anyone else and we're not making more from a FREE social network but there isn't anything out there today that can capture performance from real accounts like we do - so if you find something else refer them to that place and take a look.
No. Your sliding the point. YOU said you can guarantee! So now do it or apologize to them like a real man.


Quoting asafyigal
I don't judge FF or the people here

"I can guarantee to you that people here that are trying to help others are trying to build a business to themselves, which there is nothing wrong with that, but it means that they are not very successful traders. "

Your own words...

Quoting asafyigal
- it's obviously a successful place - but for a lot of traders especially the professional ones this is not the solution.
What the hell are you talking about? the solution for what? Professionals come here to share and hear IDEAS/CONCEPTS I doubt that some of them take they trades based on someone else´s analysis. That´s what they teach here: DO YOUR OWN RESEARCH, DON`T TAKE TRADES BASED ON SOMEONE ELSE`S VIEWS ALONE, some of the traders that you mentioned as not profitable don´t come here to share signals they explain why they took the trade, doing so anyone who read their posts can make his own decisions. Others take a fee for other services and they are on the Commercial forums after sharing theyr knowledge for FREE for so many years.

Did I made myself clear now? got the drift?



Quoting asafyigal
Well - all I can say is that I am lucky that you are not my boss ;-)
You bet you are.


Quoting asafyigal
I never said that people here are idiots and I don't think that - I do think that in the financial world collaboration without transparency is lacking and misleading and if there is another FREE alternative then why not.

-- Asaf.


I´m done with this.
.
  • #26
  • Jul 4, 2010 7:46pm Jul 4, 2010 7:46pm
Quoting Rednose
...

So you are doing all this charity just to help people make money huh?.....

"Deal structure...
[i]Our investments typically take the form of Convertible...
Ahhh, the new Wall Street, venture capitalists giving millions in seed money to altruistic startups. The brave new world. I bet Gary Gensler is proud of currensee.
  • #27
  • Jul 4, 2010 10:35pm Jul 4, 2010 10:35pm
Quoting wwwin
Well Forex.com does not surprise me, http://www.nfa.futures.org/basicnet/...px?seqnum=2461 (HOW COME CURRENSEE SOCIAL TRADING NETWORK DID NOT TALK ABOUT THIS PRIOR TO THE NFA STEEPING IN??? I mean, there is a self serving post on the site's blog that states that it can detect scams???http://blog.currensee.com/2010/06/sc...hern-exposure/ ) "[i]I hate to be self-serving here, but I must. If his clients required him...
I am as surprised as you to find these things about Forex.com - I have been working with them for years and wouldn't have suspected them for doing that.

As for the MT4s - Currensee have a unified solution to all of them regardless of the broker - it's a simple EA installation that can run using investor credentials and sends the information to us.

Quoting wwwin
But MBTrading, come on man, I use them for MT4 ECN and you have to have a security key downloaded to the MT4 directory in order to use a live account, on top of user ID and PW....that is quite surprising to say the least....are you collecting the security key file too????
We don't collect any security files - see MT4 solutions.

"What is the purpose of the RSA Advanced Security key?
 The security of our clients, their personal information, and funds is a priority to MB Trading. As a firm it is our responsibility to take all measures possible to ensure our clients security needs are met. The MetaTrader 4 trading platform offers Advanced Security authentication, which is based on the use of 1024-bit RSA encryption. All authentic data of the account, apart from common encryption, will be additionally signed with a numeric key automatically generated the first time a customer logs into his/her account using the Metatrader Client.

Upon a client’s first login to his account, a window will pop-up with a black area in the middle. The client is prompted to hover the cursor over the black area to generate the key. Once the generation is completed a file will have been created in the following directory Crogram FilesMetaTrader 4config. This is the default installation location of MetaTrader, but a client could possibly change this during installation. However the key file will always be in the config folder in MetaTrader directory.

Clients will only be able to login to their account with their Master password on a computer that has the key file in their config folder. However they can use their investor password (read only) on any computer."
http://www.mbtrading.com/metaTrader4.aspx

-- Asaf.
  • #28
  • Jul 4, 2010 10:36pm Jul 4, 2010 10:36pm
Quoting wwwin
Ahhh, the new Wall Street, venture capitalists giving millions in seed money to altruistic startups. The brave new world. I bet Gary Gensler is proud of currensee.
I never said that we're helping people make money - All I said is that we're helping real traders communicate in a trusted and transparent environment.

-- Asaf.
  • #29
  • Jul 4, 2010 10:55pm Jul 4, 2010 10:55pm
Quoting Rednose
Got a statement from the brokers to prove that? If you got some kind of agreement term with them this must be written somewhere. Prove it.
Call up any broker and ask them if they are paying us to become a member - send me an email to [email protected] and I will give you all the phone numbers for all of our partner brokers.

Quoting Rednose
"Social network for currency traders Currensee has raised $8M in Series B funding led by prior backer NorthBridge Venture Partners and joined by new investor Egan - Managed Capital."...more here.

So you are doing all this charity just to help people make money huh?

I bet you are.... but the ones who gonna make money are not the traders right? or have this companies gave you this 12 MILLION dollars to help retailers make money?

Hard to believe.
Currensee makes money in the following way:
1) We are an IB for a very small number of traders - probably less than 50 the last time I looked. These are all traders that we introduced to brokers
2) We sell products in the Currensee marketplace - some products are third party like signals, charts etc and in the future we will be selling some that are developed by Currensee like advanced charts, advanced social indicators, market depth etc.
3) We are about to launch an auto trading service very similar to KaChing and Covestor but in Forex obviously and we're going to charge management fees for that service for any investor who wishes to participate.
4) We sell some advertisement space but it's very limited.
[/quote]

Quoting Rednose
Do the FIB tools work on DEMO? are candlesticks patterns recognizable on DEMO? Can you draw trend lines on DEMO? etc..etc..read the words : IDEAS/CONCEPTS. I don´t need a real account statement to know if what someone is telling/showing me makes sense or not.
If you find it helpful for you then good luck.

Quoting Rednose
ps- A little disclaimer at your page :

2010 Currensee, Inc. | [b][color=#000000]Currensee...
I didn't get the joke here - but it doesn't mean it wasn't funny.


Quoting Rednose
If I tell you for example that I use a SL from X pips and after X pips I trail my stop on X pips or take profit at X pips...do you need a real account statement to understand it??
It is not that hard is it?...and again: "I don´t need a real account statement to know if what someone is telling/showing me makes sense or not."
Well, pips don't really mean anything, every pair has a different pip price and every trader uses different position size.


Quoting Rednose
You are the guy claiming that if I don´t know if a guy is "real" trader by seeing his real account statements I should not trust him and you are telling me to take advice on trading matters from a blogger?...get real..
I didn't tell you to take his advice just read his opinion you obviously have your own opinion about things and it works great for you.


Quoting Rednose
From your posts:...
People here asked questions and made suggestions - what would you want me to say? Don't friend me and find your own friends? or "Ask Rednose he seems to know all about Currensee?".




Quoting Rednose
No. Your sliding the point. YOU said you can guarantee! So now do it or apologize to them like a real man.


"I can guarantee to you that people here that are trying to help others...
You are such a sweet man, I remember being as naive as you - "Professionals come here to share and hear ideas/concepts" you are just too funny man!

The reason I can guarantee they are not good traders is because I've been in this business for several years now and I got to personally know a lot of the people that come to forum to "help other traders" - the problem you are having is that you have blind faith in people you don't even know just because they write a lot in these forums and it seems to you they write interesting things - if this works for you, by all means, I wish you good luck - there are plenty of traders that it's not working for them.

-- Asaf.
  • #30
  • Jul 4, 2010 10:57pm Jul 4, 2010 10:57pm
Quoting wwwin
Ahhh, the new Wall Street, venture capitalists giving millions in seed money to altruistic startups. The brave new world. I bet Gary Gensler is proud of currensee.
The advantage of being a VC backed company is that we don't need to make money early on and we can focus on building an innovative product that solves a real problem in the market.

-- Asaf.
  • #31
  • Jul 4, 2010 11:09pm Jul 4, 2010 11:09pm
Quoting billflet
I'm not going to "try to have him link to your site"....
Ok,

I take what I said back - I've looked up these people that you mentioned here and at least 4 are also members of Currensee and it seems like at least one of them is actually a good trader.

-- Asaf.
  • #32
  • Jul 4, 2010 11:12pm Jul 4, 2010 11:12pm
Quoting wwwin
Ahhh, what a sweet guy, and such a nice family picture in the profile, I bet he is organizing a nice 4th of July fundraiser to help needy children...but just in case I am wrong.....I say let's email some of the brokers he claims endorse the currensee site and see what the brokers have to say?

Please do - if you can't find their emails - email me at [email protected] and I will make the introduction to all the brokers you need.

But - make sure to come back here and tell the class what you found.

-- Asaf.
  • #33
  • Jul 5, 2010 5:43am Jul 5, 2010 5:43am
I´m not arguing with you anymore, you just answer (in a very slippery way) the points that you want to answer and seems to me that you are unable to understand what I´m saying so I let the readers of my and specially YOUR posts made their own mind.

Over and out.
  • #34
  • Edited 12:49pm Jul 5, 2010 12:05pm | Edited 12:49pm
Quoting asafyigal
Please do - if you can't find their emails - email me at [email protected] and I will make the introduction to all the brokers you need.

But - make sure to come back here and tell the class what you found.

-- Asaf.
I already emailed MBTrading. Waiting for response.
---------------------------------------------------------------
"Thank you for your inquiry. We will respond to your request as soon as possible.

Please do not hesitate to contact a Customer Service Representative at (866) 628-3001 if you need immediate assistance.


Good Trading,
MB Trading

(866) 628-3001 Tech Support
(866) 628-3002 Trade Desk
(310) 416-1420 Fax

On Monday, July 05, 2010 you inquired:

There is a webstie, currensee.com, that to join asks for the user name and password of my MBTrading account. They say that mbtrading has approved this procedure. I would to know if this is true, and is it safe to give out the user name and password to this site, currensee.com. thanks"
  • #35
  • Edited 12:40pm Jul 5, 2010 12:08pm | Edited 12:40pm
Quoting asafyigal
Ok,

I take what I said back - I've looked up these people that you mentioned here and at least 4 are also members of Currensee and it seems like at least one of them is actually a good trader.

-- Asaf.
Hahaha, so which are the 4 that are there? and how by just the user ID at FF you know that they are at currensee too?
According to you, of these (J16,Merlin, Bemac, PeterFM, Ak4x, BillyRay), 4 are members of currensee, but you can only vouch that one of them is actually a good trader . I hope the above group of selected FF members reads this and posts to actually confirm that they are members of currensee and their experience there, or deny that they are members and put this thread to rest.
  • #36
  • Edited 12:54pm Jul 5, 2010 12:19pm | Edited 12:54pm
Quoting Rednose
I´m not arguing with you anymore, you just answer (in a very slippery way) the points that you want to answer and seems to me that you are unable to understand what I´m saying so I let the readers of my and specially YOUR posts made their own mind.

Over and out.
I agree, let's say that I did not know about this thread, and thru
Google I found out about currensee. Let's say that I might be inclined to join but have not, and then I happen to come upon this thread. After reading what a co-founder is posting here, I would definitely not join currensee.
  • #37
  • Jul 5, 2010 12:44pm Jul 5, 2010 12:44pm
Quoting wwwin
Hahaha, so which are the 4 that are there? and how by just the user ID at FF you know that they are at currensee too?
According to you, of these (J16,Merlin, Bemac, PeterFM, Ak4x, BillyRay), 4 are members of currensee, but you can only vouch that one of them is actually a good trader . I hope the above group of selected FF members reads this and posts to actually confirm that they are members of currensee and their experience there, or deny that they are members and put this thread to rest.

You can't really expect me to violate the privacy of our members and disclose their performance or their profile information do you? - they are member of Currensee and if you join you can find them too - it's no that difficult.

-- Asaf.
  • #38
  • Jul 5, 2010 12:48pm Jul 5, 2010 12:48pm
Quoting wwwin
I already emailed MBTrading. Waiting for response.

Don't forget to apologize once they tell you they don't pay us.

-- Asaf.
  • #39
  • Jul 5, 2010 12:50pm Jul 5, 2010 12:50pm
Quoting wwwin
I agree, let's say that I did not know about this thread, and thru
Google I found out about currensee. Let's say that I might be inclined to join but have not, and then I happen to come upon this thread. After reading what a co-founder is posting here, I would not definitely not join currensee.
That´s the point, anyone who has a little bit of brains will never join a company which ask for confidential personal information and the co-founder treats potential clients like this guy is doing here. Hes proving on which side of this game he´s playing. He claims "transparency" and come up with such stupid answers with a lot of words but saying nothing. Accusing people without bringing facts. Sad is that people who are already struggling to make some extra bucks at home who got trapped by media promises of "get rich quick with forex" and read all the BS at the currensee site will give their precious information away because their think it will help them to make money faster... Just think one minute about it, who makes the big money with all that "REAL" information?....Now brokers can get together and take the money out of their pockets even faster..

BTW - simple question: would you give your credit card password to someone you know through the internet?..I don´t think so.

I´m out of here...
  • #40
  • Jul 5, 2010 12:53pm Jul 5, 2010 12:53pm
Quoting asafyigal
Don't forget to apologize once they tell you they don't pay us.

-- Asaf.
Hello???? are you dumb? can't you comprehend English? I don't care and did not ask about payment...I AM TALKING ABOUT A SECURITY RISK BY GIVING OUT CREDENTIALS.

Let's see you want my name, address, BIRTH DATE, broker account number and password. Who is talking about payment here?
Rednose is corrrect, you never answer the question asked.
0 traders viewing now