Swindle or not?

I came across a "verified" trading account (link) at myfxbook with some interesting stats; +22% av. month and a mere 1.65% drawdown. However, the history is still in its infancy at 5 months.

The trading team employs a non-directional (fancy!) forex strategy. And they are inviting investment in various "programs" (link). Which got me thinking......

What are the objective measures that I can use to avoid being swindled?

Is the rate of return / drawdown a red flag?

Or the fact that the "trading teams" broker is offshore, regulated in St. Vincent and Grenadines?

Perhaps the fact Intelligent Capital's website has no phone contact, should raise questions?

I'm grasping at straws here. Your input is appreciated.



**btw, I have no association with the organisation in question


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Thanks. But I dont think is the same company.

 

You are right, it does sound too good to be true. However their myfxbook (link first post) says they are well on track.

Future results are another matter of course.

 

I agree greggles. The use of this broker raises a red flag that I havent been able to resolve.

As for the trading performance, I cant fault it to date.

 

Yes, more data is preferrable; plus a trust-worthy broker.

 

I hear you. But the blurb doesnt bother me.

It's the lack of data and the choice of broker.


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an email exchange with IC.

My email:

Would you consider offering Global Prime as a broker option?
They are an exceptional broker providing excellent liquidity, spreads etc.; see reviews.

To be frank I cannot proceed with your current preferred broker.​

IC reply:

OK we respect your decision.

However please understand that we are involved in professional arbitration trading. It has taken over 2 years to setup a bespoke global liquidity structure to accommodate our trading flow. We work very closely with ACCFX in this regard and this is certainly not a "rinse and repeat" operation. There is currently over $180m under management in real funds on this structure and it is unlikely that you will find anything that matches our offer elsewhere. We are trading within the understood flow limitations of the LP's we work with and it requires inside knowledge and a very sophisticated structure to do what we are doing. We have worked closely with ACCFX and we personally are happy with their service which is exceptional, despite anything you may read to the contrary.

Although Global Prime has an excellent reputation, it would take a great deal of additional dedicated additional testing to determine if our strategy would be effective there, added to which we would need to cultivate internal relationships with both the broker and the liquidities. This is is not something we are seeking to do at the current time.

We are happy to answer any further questions you may have, otherwise we wish you every success in your trading journey.​

$180m! Sounds terrific, but the statement has actually increased my doubt.
Where are the audited accounts substantiating the statement?
Why isnt there more historical data?
Where is the flood of internet chat about the fund?
etc etc


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Yes, I have seen the light.



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Your bird is not as good as his.


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