Forex trading is hard and fairly easy at the same time. With proper tools that have been tried and tested, you can turn it into a profitable business.
However, the problem is that many investors somehow don’t get access to these tools: reason? They get overwhelmed by information overload — most of which is propagated by scammers and a few greedy fellows.
So, what happens when an investor with lots of money is desperately looking to make a quick buck in Forex?
But sometimes those scams become quite apparent so that there’s not a shadow of doubt about them.
That’s why we are reviewing a ‘managed Forex account service’ called Trade4Me.
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It’s an offshore Forex investment scheme based in Nigeria with offices situated in eTecHone INTERNATIONAL: Suite 35, Anike Shopping Plaza Alegongo Bus-Stop, Off Akobo Road, Nigeria.
Now, think about it. Trade4Me is based in a country that has, for a long time, carried a bad reputation with internet scams. Redeeming their image or changing this public perception is going to be a tough job for as long as scams continue operating there.
Besides this, Trade4Me operates with a set of policies which automatically make it a high-risk venture for investors who want to make money trading the Forex market.
Thankfully, our investigations have unearthed some disturbing facts about Trade 4 Me service.
It’s basically an off-shore boiler-room operation. The ”physical” address which you’re seeing above is nothing more than a showpiece of credibility.
They have a website which can be accessed here – Trade4meservice.com. However, if you go through the content of that site, you will quickly realize that those terms are not favorable to investors.
This is quickly overshadowed by promises that investors will make a 300% return while being relieved from the hardships that come with Forex trading.
Trade 4 me appeals to investors by telling them that their starting fee is quite low, and that they (investors) can make money even if they know nothing about Forex trading, thanks to their efficiently managed account services which ensures that risks are properly contained and profits maximized.
Investors who want to use Trade4 Me services must part with a minimum fee of $250. It’s not clear how high this can go because it varies.
Since it’s an advanced fee scheme, Trade4me aims to persuade all investors to pay them upfront so that they can take advantage of their ”professionally managed Forex account services” — which promise 25-30% monthly return.
This is just too good to be true. We don’t know of any straight-forward managed Forex account provider who currently generates this kind of return for their investors.
Secondly, Trade4Me does not operate this business on the principle of high watermark. At least this information is not cited anywhere in their policy.
So, what does this mean to investors who are itching to kiss their dollar goodbye?
It means that Trade4Me will deduct a certain amount of profit each time a trade becomes successful. This will happen regardless of the account size or previously incurred losses.
This model does not compensate previous setbacks before a percentage of your profit can be deducted. You are obviously disadvantaged in this scenario.
At no instance did Trade4Me mention an LPOA document. This is yet another terrible mistake. We will discuss this later.
Nonetheless, realize that Trade4Me website is asking investors to consolidate funds into one account so that they can trade those funds in a single account instead of multiple managed Forex accounts.
Do you have an assurance that these funds will be invested in the Forex market? Well, Trade4me does not mention anything to do with proof that your funds will be used in Forex trading and nowhere else.
This is a fraudulent website at its best. Without an LPOA document, you are essentially giving up control of your money and putting it into the hands of a stranger, hoping that they will multiply it.
You are actually getting caught up in the hype, and this can cloud your judgement.
We can bet on the fact that Trade4me website is not operated by Forex traders. Instead, it’s operated by rogues who know nothing about trading.
It’s the reason why Trade4me can never produce any track record of their success.
In fact, a track record is the last thing they want to hear. It’s the reason why our probing questions have since been ignored. The words ”track record” or ”verifiable performance record” is simply a taboo and an anger trigger.
You, as the investor of Trade 4 me will get nothing. You will lose the fee and if you are foolish, you will lose the sum ”invested” as well.
Actually, you bring the funds, and the Trade4me scammer stashes it inside a mattress, or uses it to purchase marquee liquor, an expansive mansion and a yacht — or puts it in a private investment scheme elsewhere for a rainy day.
As if that is not enough, Trade4me is telling their ”investors” that profits can only be withdrawn after the investment cycle which ends in 12 months — although trading statements can be requested at any time.
That’s a huge red flag. No managed Forex account will restrict you to such a shrewd business model. Remember that an LPOA is not required. This means the scammer can withdraw your money at any time they wish.
As a matter of fact, Trade4me ”professionals” will not even invest your funds in the Forex market. Ask them for proof and you will be surprised that there is none.
65% profit is supposed to be awarded to the investor depending on his share in that pool of funds. Even if it was true that Trade4me is an honest managed Forex account provider, I wouldn’t recommend it to investors because this is a rip off.
It’s too pricey to have these guys ”managing your money”. Not to forget that their reputation is already wanting.
Who owns Trade 4 Me? Apparently, it’s owned by a ”team of professional traders”. What’s their names or backgrounds like? No one knows.
Can they be accessed using a working phone number. Apparently yes. However, these phone lines are just a show piece of credibility. Nothing authentic about them. Even scammers use active phone support.
How is their support like? Do they promptly reply to emails? Of course yes. But if you approach them from the perspective of a naive investor. If you go our way, your probing emails will be quickly flagged as spam.
These investment hustlers and charlatans operate two other scam websites going by the name Autofxalert.com and Autobinaryalert.com. Be warned that those sites are out to attract gullible investors with no sense of caution.
One thing we noticed is that Trade 4 me is the first ”managed Forex account service” to use Bitcoin as a form of payment.
Be warned that using Bitcoin in this scheme is the quickest way to lose your money for good.
Trade4me is a very dangerous website. With a faceless owner behind the scheme, coupled with unfavorable terms which make it easier for you to lose money, the stage is set to con you of your hard-earned money. Avoid.
On the same note, try out these Forex products because they are tried, tested and more transparent since their owners have nothing to hide.
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