ponzi is the oldest scam in the book, can’t believe so many people still fall for it.
Hi,
Yes, I did notice the big change. Anyway, I did save all the previous deposit announcements since this whole charade started. I have also located the ip address of previous CS emails, which is why i know the emails came originally from Macau.
Just to give some interesting info, in case no one notice, the signatures of directors are always the same even though they change the “directors” already. My guess, the Philippine directors are just a “silent” partners and by name only.
And isn’t it dandy that we never get to see or meet the directors ? I have emailed the NZ securities another time to seek a clarification on some of Mutalib points today so we shall wait and see what they say
Now for Mutalib’s point : - as we wait for NZ securities to anwer Something i would like to point out
1. Spot Market like Online Trading is an Open Market / Self Regulated :
- The traditional definition of a spot market is basically on the spot exchange eg. OTC at the bank, or when you exchange with money dealer.
I am just going to point out something I am sure Mr Mutalib will have nothing to say… about why i need the license number … BECAUSE…wait for it… wait for it… ITS from EDGAR HOMEPAGE>… 
“The Dealing Desk”
EDGAR’s trading desk operates 20 hours a day, from Monday Tokyo opens to Friday closes in NY. Our trading desk is staffed with some of the best foreign exchange traders and market makers available. EDGAR’s staffs pride itself on offering a unique dealing and trading environment on its desk that ensures that clients get their questions answered, and problems addressed, quickly and with straight answers.
SO… CAN I ASK… WHERE ONE EARTH IS EDGAR TRADING DESK ? NOW… this is what i have been trying to say all along…when you execute a trade it needs to go to dealing desk where it is executed. If edgar has a dealing desk to actually participate in the Forex market … THEN by common sense it should hold a license in the Securities market to actually have a dealing desk on the forex market.
NOW… all i am asking Mutalib and the GLOBAL TRADE CONSORTIUM… where is your dealing desk located and the license number given to the Dealing desk OR BETTER STILL please please… give me the dealing desk phone number so i can call the “Our trading desk is staffed with some of the best foreign exchange traders and market makers available.”
Mutalib… when i mean dealing desk, I mean the place where the transaction takes place. Remember friends ANDY can’t just place 5 million USD contract… on some itrade system the contract have to transacted somewhere.
I do share trading, I have an online share trading platform, when i execute an order, it goes to the share market floor on Nasdaq where the trading will take place, and when the order if filled, the trade will be fulfilled. Forex trading is pretty much similar in this aspect. — Which is correctly stated on EDGAR website.
Edgar and Legion SHOULD have a place to do the transaction… SO can MUTALIB kindly just give us the place and location of the trading desk, or the trading desk license number and if possible provide a phone number to call the friendly Edgar staff " some of the best foreign exchange traders and market makers available " — THIS IS FROM EDGAR WEBSITE.
Below is a definition of a trading desk… just in case Mutalib try to give his 1001 Arabian night tales
InvestorWords.com
dealing desk
Definition
Place where real time transactions of equities, fixed-income securities, futures, commodities and foreign exchange occur. Dealing desks are usually used by broker dealers that need to make instantaneous transactions and control the fixed spread during volatile sessions.
This so called claim is on EVERY GLOBAL TRADE CONSORTIUM company like legion, prince and edgar.
Have anyone actually managed to call speak to a staff of Edgar at the dealing desk in " TIMBUKTU "
PPS… ANDY is a trader who owns Eastern rich, SO cannot be considered Edgar Staff, unless Andy is part of the syndicate. Edgar Staff by definition is someone on Edgar PAYROLL…
Maybe to keep people calm ?
Subconsciously we are a bit happier !
It could buy time.
Or
He is a really reasonable person.
Who is doing the right thing.
and why he chooses edgar instead of a save place like a bank
why are they not swimming in money ?
Anyone …
And anyone knows if anyone else is receiving payment in january ?
Or is it silently going …
I have heard there are a couple of lucky ones who got their money in Jan. But it really depends on your agent if they push for it.
Suggestion is if you can’t get it from your agent go straight to Andy or jerry . Pay him a visit.
I think some “very persistent” people got their money. I wont name names here, but I think if your money come out of ledger, you will get your money in 5-10 days.
Got already 6 trades for this month.
Recent withdrawals are better, the delay is when the money came out of the ledger but go to the bank faster, at least it is still traded, rather than b4, money came out of ledger right away but the deposit to receiving bank is delayed. My chosen friend also got his money last month w/n 3 days after coming out of the ledger, manual withdrawal.
Hi Philip,
Are you able to provide some info how you got the money withdrawal and how long it took ?
Couple of my friends still waiting they have large sum of money tied up. They are with different sub-agent. But the ones that directly deals with Jerry rather than through singapore, got some of their money back.
It makes me wonder, if some sub-agents are not really doing anything.
Apparently, from conversation with the KK staff, they say they have not receive withdrawal request from the Singapore sub-agent. So if you are from Singapore, have anyone receive their money ?
From Singapore no one get any money because CPIB already got case file on this issue. Some people already taken in for questioning.
Hi Master Asia, sorry to say that you being deceives by kk staff? As you know everybody so eager to get their money back? you are thinking Singaporean so rich don’t need money? Sure they have submitted. But don’t know what is the issue for Andy or Jerry keep on don’t issue out to them?
Maybe you are right, Singapore Agents not work hard enough to pressure them?
So conclusion no CNY already…
Still on the “chosen one” basis. Not only one withdrawal was filed together maually last month. Sadly only one was chosen. If they got direct comm with Jerry then the facilitation of their withdrawal is better.
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Spot Fx are not self-regulated based on willing buyer and sellers basis. As they are not the open market themselves third party regulators like government body enhance business and volumes.
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Spot markets are what traders associate with the likes of FXCM ,IBFX, FXpro etc. Hello, aren’t they regulated by CFTC(USA), FSA (UK) , ASIC 9Australia)? These are merchants and they can have retailers with clients in the forex business. New Zealand had not but now implementing laws to regulate forex. That’s why you apply for licence.
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CME= Chicago mercantile Exchange. Exchange regulated, right on and preferred by banks, Why? Because banks are managing ppl’s money? Increase confidence and thereby business as well.
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MasterAsia was right on margin and leverage. Stay in context, what ducks and eagles are Mutalib talking about? If you(anybody) buy say Euro/USD on margin and leverage at USD 1.35000 you advance $135 for a contract the size of 10,000 units Euro which is worth $13,500 ( 10,000 X1.35000). You pay only $135 because your is leverage 100 times. ( 100 x $135 = $13,500) .
When do you take delivery of the 10k units of Euro? On the ‘spot’ in your pocket? No, you wait till say the Euro appreciate to say $1.36000/Euro in some month,weeks, days, hours, minutes or seconds time. Then you sell and take profit without taking delivery. Isn’t the buy contract held for sometime whatever the time frame while waiting for a change in prices? That is the intent of the law as stated by Hayden best but ironically quoted by Mutalib to contradict himself. -
Compare to money changer you take delivery on the SPOT.There are no leverage and margin given in advance of time. That’s why broker require you to ‘advance’ a margin i.e., ahead of time. Likewise you can do the above item 4 with futures market like the CME instead of say FXCM and it is never spot.
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[B][U]Time define whether an order is future or spot.[/B]. What is spot if you don’t get your Euro immediately? A market order is a contract to buy or sell.
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The so called spot markets merchants or retailers trade on the CME or with other banks. Say when you place a buy order for 1 lot with FXCM. FXCM takes up your order and sell 1 lot to you. You deal directly with the merchant. You are not trading in the open market with banks or CME. Company like FXCM will in turn trade in the real market. Forget about the trading floor. Just compare to other merchants quotes if you are afraid they quote you after the facts.
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NZ may be easy to sell banks’ product needing a licence. Likewise it is easy to open a bank with the word BANK on your company in USA but it does not mean they need not be regulated. See what happened to Lehman Brothers and the rest when they were deregulated to great extent. NZ is easy then why apply licence since you got a company registration number and trading software solutions. What business are you in, software or forex?
Who believe you don’t know? -
Why are ppl so afraid of getting regulated, audited say by CFTC? Try open a branch in the UK and be regulated and audited by Financial Services Authority. This way your business will be bigger than the 10 top banks in the world.
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A company may start small without 100 % compliance with laws and requirements but your group is so big now, it can meet any regulator requirements. Surely they can hire an accountant and a team of account executives to solve their similar problems that any merchant like fxcm,ibfx,Fxpro. One even has 200,000 over account holders. Replace the CEO if he could not run a company properly. Nobody is asking you to invent something new. The softwares are all available and you claimed to be a software solutions provider. Well, then solve your own problem first and look more professional.
MasterAsia thanks for your effort and explaination so far. In law, if anybody enter into a illegal contract in the 1st place then both parties have no legal recourse. Even black market have their own jungle laws. IF the money are found in Malaysia then it can be frozen indefinely. Then nobody(including Edgar) gets anything nor can touch it. If the collecting agents were legally appointed by Edgar then it can be held responsible assuming it is not a scam. Afterall, it was Mutalib who said it was a software solution company compared to a forex company. If Edgar is a fx company, they can sue Mutalib. Sometime a small company may be good at trading but ain’t got the credentials and money to apply for licence and be sited in a highly professionally regulated region. Sometime a trader is good but the company is giving him headaches. Any other company would have kept this goose that lay golden eggs fast and numerous. Maybe you can help him start anew and everybody make money with a better regulated company. That new company will forever be indebted to you. Edgar look more like a retailer of fx than a merchant. Merchants do not charged 5 pips on top of the spread. Charging 5 pips for fund management is very reasonable for such a good record. Just my thoughts without proof. Edgar can be serious or Andy can leave so that Edgar regrets indefinely. Mutalib just shot Edgar and Andy in their legs by saying it is in software business. Alamak! Money can be lost and made back. I think Mutalib must have provoked you into taking direct action with NZ authority. What is done is done. Since Singapore CPIB has begun action I am no longer that optimistic. A good trader does NOT deserved to be brought in for interrogation just because of his forex retailer or merchant. In Sabah, most can join an fx company without knowing its background since financial expertise there is still in early development stage. Once in, one can get stuck.
Dear All:
Sad to inform you that my account being fozen as only 1 trade in Jan so far whereby my friend account got 6 trades. I tried to contact my agent, he cannot provide any answer to me and ask me to “wait”.
I got some friends from another line in malaysia got money back, but the ones that open from Singapore line nothing yet so far.
So been wondering what is the issue. Well… hopefully you guys get a good CNY
Dear Star89,
Are you in Singapore or Sabah? Did you say dirty word to Andy, Jerry, Solai, AllenLeow or Mutalib?
Your are nothing to worry about trading freeze, but you need to worry about no withdrawal process for you. With 10 million trading in your account, but $1 wired to your account, do you consider yourself profit $1 or 10 million? Think about it.
I understand this. What i mean is my accounts being frozen as no withdrawal get and now even worst no trading at all.
I am come fr Singapore, did not talk dirty word to Edgar but just keep complain abt the withdrawal in this forum.
Dear Star89
Have U Settled This? May Be They control ur AC because they already traded on ur new deposit (without receiving ur money).
Check with ur agent
I think its safe to say, those of us that were not willing to try this “joint” out. We are very safe if we read this thread.
I actually did not get into forex to have anyone do any of my positions. Blindly letting someone or something do anything for you is silly.
HERE TAKE MY MONEY! I hope you are honest and I can reap the rewards!!
Nothing will ever work that way no matter how fruitful or convincing someone or something may make it sound.
Bottom line is this. You lose control when you start throwing money at people when you don’t even know the business in the first place.
This is a very trite expression. “A fool and his money are soon to be separated”
I have been a fool in my past. I choose not to be now. I listen. read and learn what I want to know now. I do the demo accounts, I read, I ask question. I’ve even started to learn how to back test.
If anyone has learned anything from this this thread. There is no free lunch here, and if you really want to be a 5% top notch trader. You will have to put in the time and take your knocks like a big boy or girl.
few beers in me… but that’s what I have learned and my opinion.
Cheers, 
Chris
Yes, they had “withdraw” out the “deposit” from my ledger as i told my agent that i do not wish to re-deposit the amount. Since then, my account being frozen with no trading also yet to receive my withdrawing.