Need advice if I should continue investing in a forex group
Good day! Would like to seek advice. I have invested in a certain group of forex traders which gives you a certain percentage of your investment every month. In the end of contract you should have received all the promised returns + the original capital, more or less doubling your money. My experience so far has been positive and didn't experienced any delays and fully received all agreed returns + initial investment. I would love to invest again because it is passive income. My only concern is it has been flagged by the SEC (Securities and Exchange Commission) as illegal and any person involved might be at risked to be investigated by BIR or worse, imprisonment. The forex group's explanation is that 1) their name was used by a third party and they were wrongfully accused and 2) PH does not recognize forex trading yet and they are legit in the other country they are operating in. I trust a lot of people involved with them that is why I was not hesitant in investing the first time. Just want to hear some thoughts from a separate entity. Especially how the PH government recognizes forex trading in general. And help me clear my doubts in investing again. Thank you!
Is it normal for a forex broker to investigate a client's account when they are profitable?
Hi if some of you in here are into trading I just would like to know if some of you ever had your accounts investigated by a broker because u were making too many withdrawals. cause I just started with this other broker then I was very profitable and just this week couldn't withdraw cause my account is being investigated.
Housemate potentially involved in a Forex MLM/Ponzi scheme
I’m curious if anyone here has heard of or is familiar with the company KOT4X? I have a housemate who claims to have made over $10 million from this website in a few months which I find utterly ridiculous. This all began with him trying to get the rest of us signed up for his “company” which I overheard him tell someone else is KOT4X. I did some digging on them but all I’ve been able to uncover is that the “company” is sketchy as hell. It’s registered offshore (St Vincent and the Grenadines) and makes some pretty serious promises regarding how much money can be made. The catch, of course, is that it costs ≈$250 to create an account (and I would imagine there are further monthly fees associated with this). He has mentioned that there are several hundred videos that teach how to make significant money off of Forex trading, which leads me to suspect this specific website is some iteration of IMAcademy. Needless to say, I didn’t take the bait or really remark on it but now I’m thinking I should have. This housemate has not yet paid his share of the rent for the month; he keeps saying that he has and it’s “processing” and that his low standard of living given his supposed wealth is due to the fact he is “humble.” Coupled with this, I am fairly certain this housemate stole about $120 from my wallet along with my AirPods from my room, which I would imagine he sold for cash. He of course denies this and it’s frankly impossible to prove without either catching him in the act or seeing him use the AirPods, which hasn’t happened yet. If he doesn’t pay his rent within the next few days, I have all intentions of doing everything in my power to get him kicked off the lease and evicted from the house because I frankly don’t feel comfortable living here. I’m in the process of finding someone else to take my spot on the lease, but it’s not promising at the moment. Really, I’m just looking for any help or advice anyone can give regarding this supposed “company” and what I can do to stave off what I imagine will be further acts of desperation to come. I’m happy to answer any questions anyone has about it to the best of my ability, but I really don’t know much more than what he has told us. Is it possible to report him specifically to the SEC or another agency for investigation? Ordinarily I’d be inclined to try and talk him out of it, but given the theft I’d just like to see him gone and never see him again.
I think that my friend is in a forex trading pyramid scheme "Walking ATMS"
My friend asked me if I wanted to join a group of people meeting and recruiting people for what seems like a pyramid scheme. They have videos on youtube (https://youtu.be/x5w02T_3JiI) he doesn't seem to have paid in yet but I'm worried that more people will be affected by this anyone else seen anything similar?
Got an offer from a Forex account manager, highly sceptical about this whole thing
So I'm 19 and a university student, I got a DM from this "account manager" from Forex, who went into a long spiel about the merits of trading, and so on. From what I've read in this sub, around 90% of people who trade their money through Forex lose more money than they invest. The only way to be part of the successful 10% is to basically study how the stock market works, which takes months (if not years) to get the hang of. What do you guys think? Is my judgement accurate?
Broker stats show that majority of accounts, ~70+%, lose money. I wonder how much the rest earn, if they're just about breaking even or earn really small amounts. I understand there will be bell-curve and I wonder what would be the middle of the earning bell curve look like - what percentage on average the winning accounts earn each month.
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