Beware Asia Forex

[marc walton]

Hi, just a quick post as I am waiting for more information but please be VERY cautious if you are approached by a company called asia forex xxxxxxx (for legal reasons I have omitted the last word).

A friend of mine told me about this shower a few months ago. They claimed that they were a group of experienced traders with outstanding results (the blurb DID look good) and they were going to make you all very rich- oh dear where have we heard that before

They did admit it was a high risk strategy, but another "member" had this to say " ...after I signed the LPOA and passed my password to him , he become uncontactable ..trade without stop loss just keep floating never have a profitable trade until burnt..

My friend is normally fairly cautious but his philosophy with this was it did look good and if you are going to test it then demos are not for him.

You can see here how they managed to decimate a small live account ($850) in just 6 days where they didn't manage one single winning trade.

He also says that email support was poor & that was before he joined!

MT4i - Statement for afl_live

[raa]

Hmm Marc, sounds like a scam. Did they insisted that account should be opened at their broker only, and that nobody heard of this broker before? Then it makes a perfect sense to lose everything - everything trader lose, broker gains. Just two sides of one scam.

[LEIGH58]

thank you marc for the warning.

[marc walton]

Hi Raa, The broker was ok on this Asian Forex service, but I do remember a scam that I saw recently where you had to open an account with some unknown broker, minimum deposit was $2000.

A member tried to contact the broker during business hours and it was on answer phone all day!! I cant' remember the name of the service or broker but I read a peacearmy reviews of the broker saying that it was impossible to get money out of them.

It smelled very fishy and seemed to me that the signals were merely a front to get $2000 off people.

As we all know when swimming in the murky waters of forex there are lots of sharks out there, as always buyer beware, Marc