ProphetMax, Senen Pousa - any info?

thepixelpusher said:
Excellent digging on this.

BTW, wasn't Senen supposedly getting his own Bank anyway? He said that he got a verbal go ahead in the first promo webinar, and that his Bank was soon to have it's mark on the world with features not seen in any bank.
Click to expand...

Yep, you only see features like this in a bank during a meltdown :confused:
 
I'm trying to ascertain on whether we're dealing with a poorly run managed service, that was illegally promoted in Australia. OR an outright scam where client money was siphoned away offshore from day 1.
 
I'm confident that this will be deconstructed on this thread over time and the answers revealed. We have some intuitive thinkers here that don't stop until the answers are found.
 
GFM trades also for Futures Trading Strategies, url : http://futurestradingstrategies.org/category/managed-trading-accounts
with the same "deal" they have with PM.
Through Whois, the website is registered as GB based and the owner (?) has an email.
I wonder if Futures Trading Strategies has known the same problem as PM members. If yes, then it is a GFM issue. If not, it's either a PM isuue or a GMF/PM issue.
Anybody has a way to dig into this ?
 
It's just very strange that no-one seems to know where they sent their money. No-one has confirmed they completed account forms or received disclosure docs from IB Capital. It's my fear that clients funds weren't wired to IB Capital, and there are in fact no legitimate accounts. For the benefit of all involved I hope I'm wrong.
 
ProphetMax Member said:
He was taking the position of, 'I'm with you all'. The purpose of the webinar was to field questions to compile for Monday's webinar.
Click to expand...

Just a question. Is Mike Dillard doing all the setup hosting and coordination for Senen's webinars as well as his ProphetMax marketing? I only found the promo Senen webinar through EVG/Mike Dillard. Senen seems to not have any coordinated company and yet he has daily webinars. Who is helping Senen with this webinar stuff? If Senen is Mike's paying client, how tough will he be on him?
 
thepixelpusher said:
I'm confident that this will be deconstructed on this thread over time and the answers revealed. We have some intuitive thinkers here that don't stop until the answers are found.
Click to expand...

There was a comment made much earlier in this thread along the lines of, if a client contacts the broker or discloses the name of he broker, they will forfeit all their funds.

A registered legitimate broker can't steal your funds because you rang them. In fact they have obligations to provide adequate customer service to all clients. This may be an attempt to control clients on Sennen's behalf, or an indication that funds never made it to a legitimate broker.
 
SonicSunburst said:
Joining the dots, It appears that Sennen and Dillard promoted the services of Global Forex Management, who In turn have an introducing broker arrangement with IB Capital. Clients must have granted POA to GFM to trade their account with IB Capital.

Can anyone confirm this?
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i thought the broker was dealing though fxcm globalforex.com who incidently are also the managers Global Forex Management Online Brokers, FXCM / Managed Foreign Exchange Trading Markets who appear based in cayman islands http://www.ip-adress.com/whois/globalforex.com

there's no evidence of any regulatory info on either site?

ib capital i thought were the new zealand bank account merely holding the funds.

can't find much on ib capital lp ... linky anyone?
 
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The unraveling of this bull hockey is going to take time; and it's being slowed down by those who willingly suspend disbelief to pacify Dillard.
 
Lightning McQueen said:
i thought the broker was dealing though fxcm globalforex.com who incidently are also the managers Global Forex Management Online Brokers, FXCM / Managed Foreign Exchange Trading Markets who appear based in cayman islands http://www.ip-adress.com/whois/globalforex.com

ib capital i thought were the new zealand bank account merely holding the funds.

can't find much on ib capital lp ... linky anyone?
Click to expand...

If you try to open an online account from the global forex management website it links to an IB Capital registration page. But the page header mentions FXCM, so perhaps they have recently switched from FXCM to IB Capital and neglected to change the website code?
 
SonicSunburst said:
If you try to open an online account from the global forex management website it links to an IB Capital registration page. But the page header mentions FXCM, so perhaps they have recently switched from FXCM to IB Capital and neglected to change the website code?
Click to expand...

indeed it does (y)
 
Lightning McQueen said:
no, we are off on a bit of a tangent there, fxcm aren't in anyway involved other than being introduced by globalforex.com
Click to expand...

What's interesting is that here in Australia no broker will appoint an IB and pay rebates unless they hold an AFSL or are an AR. FXCM certainly won't deal with anyone in Aus without a license, so are GFM licensed? If so where? Certainly nothing to that effect on their website?

So if they aren't licensed why would FXCM & IB Capital allow them to introduce clients, trade their accounts, and receive rebates?

Something very wrong here people....
 
SonicSunburst said:
What's interesting is that here in Australia no broker will appoint an IB and pay rebates unless they hold an AFSL or are an AR. FXCM certainly won't deal with anyone in Aus without a license, so are GFM licensed? If so where? Certainly nothing to that effect on their website?

So if they aren't licensed why would FXCM & IB Capital allow them to introduce clients, trade their accounts, and receive rebates?

Something very wrong here people....
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they probably have the necessary licences, have just negleted to mention on website. fxcm and ib capital wouldn't deal with them otherwise. would they??
 
Does anyone have access to Senen's Thursday presentation? I cannot seem to get access to the recordings in Managed FX, or perhaps it hasn't been posted yet.
 
Lightning McQueen said:
they probably have the necessary licences, have just negleted to mention on website. fxcm and ib capital wouldn't deal with them otherwise. would they??
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Let's look at IB Cap. They are registered in NZ. Section 5 of the FSP Act states anyone who manages investments must be registered. There would be zero chance of IB Cap providing POA paperwork to their clients, allowing GFM to trade their account without them being registered with the NZ authorities, or being granted an exemption by the NZ authorities on the basis they hold similar registration or license in their jurisdiction.

Registration details, or the applicable exemption are gold in this industry. Highly unusual that they would have them, and not display and promote them on their website. Still I've seen stranger things over the years....

Until a client can confirm exactly where they wired their cash it's probably not worth further speculation.
 
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Here is a little something that was posted in the EVG lesson 19 discussion forum its the IB Capital Risk Disclosure:

05/20/2012 at 6:34 AM

This IB CAPITAL FX (NZ) LLP. risk disclosure statement is an integral term of the Customer
agreement
THE MAJORITY OF GLOBAL FOREIGN EXCHANGE CURRENCY DEALERS AND BANKS
INCLUDING IB CAPITAL FX (NZ) LLP., ARE COMPENSATED ON THE DIFFERENCE BETWEEN
THE BID/ASK SPREAD IN THE CURRENCY PRICE OFFERED TO PARTICIPATING TRADERS
AND/OR HAVE THE ABILITY TO ACCUMULATE POSITIONS ON A PROPIETARY BASIS AND
ASSUME THE RISK OF THE NET OPEN POSITIONS THEY CARRY.
THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN
EXCHANGE. IB CAPITAL FX (NZ) LLP. IS ACTING AS A COUNTERPARTY IN THESE
TRANSACTIONS AND THEREFORE ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER
WHEN YOU BUY. AS A RESULT, IB CAPITAL FX (NZ) LLP.’S INTERESTS MAY BE IN CONFLICT
WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT WITH IB
CAPITAL FX (NZ) LLP. OR OTHER WRITTEN DOCUMENTS IB CAPITAL FX (NZ) LLP.
ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES IB
CAPITAL FX (NZ) LLP. OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE FROM
AMONGST DIFFERENT PROVIDERS AND IB CAPITAL FX (NZ) LLP. MAY OFFER DIFFERENT
PRICES TO DIFFERENT CUSTOMERS BASED ON OBJECTIVE CRITERIA.
IF IB CAPITAL FX (NZ) LLP. ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN
YOU SHOULD BE AWARE THAT IB CAPITAL FX (NZ) LLP. MAY MAKE MORE MONEY IF THE
MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE IB CAPITAL FX (NZ) LLP. ACTS AS THE
BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY
TRADE RECOMMENDATIONS YOU RECEIVE FROM IB CAPITAL FX (NZ) LLP. OR ANY OF ITS
SOLICITORS.

Just a thought here: Senen Pousa declared, in one of the presentation videos that he works directly with the traders and therefore cuts out the market makers so nobody is "betting against" the investors. I don't know if I have a copy of that as it may have been included in one of the live Q & A sessions when they moved in for the kill (so to speak).
 
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