Edgar International

Beginner Questions
65

Dear friend,
The best way is to contact your agent who will give you the instructions.

Rgds
Pipface

66

Heard tat now it takes more than a mth 4d withdrawal 2 transfer into client’s bank a/c. & trading is cut into twice weekly, even no trade 4d entire mth…investors start 2 make withdrawal over d past 2 mths… & now Edgar promises more than double profit in tis Oct???

67

[B]Hi Friend,
The company only advised investors to withdraw funds once a month. They are trying to clear the backlogs accumulated since July 2010. They also said that they will try to do 15 trades for Oct 2010.
Rgds,
PipFace[/B]

68

All of these partnerships operate their forex management services without any license from Bank Negara Malaysia.

Their directors show the company registration certificate issued by the Company Commission of Malaysia to the staffs, and tell them it’s the license issued by the Central Bank of Malaysia – Bank Negara Malaysia.

Fix spread give you an edge when trading at news announcement period.That is the sole advantage of fix spread compared to variable spread of ECN. However, only the partnerships’ computers can access the trading platform during this period.

The order execution time lag sometimes reach 5 seconds when in heavy news.

Profitable account ledgers of new account use to entice the staffs open an live account. This ledgers show only the first two months of trading transactions. It would be great if ledgers of old accounts having trading transaction history of more than 5 years can be show to the prospects. The prospects just need the first and the last page of the ledgers.

The main prospects is the staffs. The “teacher” will conduct a test after two day simple training. The test consist of 7 short questions. The last two questions requires the staffs to disclose the persons that they informed about this “great investment opportunities”, their reaction and comments. Those staffs that did not answer the last two questions or don’t have prospect will be told that there are failed in the test, and no need to show their face in the next morning. This is the typical con man screening process. The partnerships don’t waste their time on staffs that did not open live account or not having prospect at all.

The “teacher” will do the first round of sales to the staffs. No word of invest mentioned. The staffs hear only"you can open a live account with just RM10K. Management or director will take care of the account for two weeks. Joint venture of four persons is allowed"

Some partnership directors claimed that they attended the basic forex course. They wiil show the staffs the copies of basic course note. Most of the staffs then simply assumed that the directors had attended the advance course. Some staffs even folked out RM10K just want to learn this secret of trading forex. For The Star readers, they will knew that plenty of advance forex course offered below RM5K. For casual internet surfer, they knew they can get the knowledge free by joining the forex forums all over the world.

Another director will brain wash the staff that are hesitating to open an account. The targeted staff will bring to the director’s office. The director ask the staff FEROCIOUSLY,“XXX, you promise you want to open an account. When are you going to bank in the money?” That staff will enter in a low mind energy condition. He or she will forget how they rejected the first round of sales by the “teacher”. The staff will thought themself really did the promise and hence opening an account is a must. The staff forgot the fact that he or she actually did not make the promise. For nobody would wait even a second when come to money matter. The poor staff influenced by the FEROCIOUS words came out from the serious face of the director. Only few staffs are saved from this kind of brain wash sales tactic. This is a very effective con man sales tactic that every salesman ought to learn. Con man did not smiles at the prospects and explains the advantages of the products or services one by one.

After one profitable trading made on the staff live account, the director will ask the staff to top up another RM10K. Because RM10K is actually not allow to open an account. Staffs are allowed to open account only if they can top up become RM20K account in one or two weeks. All of this conditions are not disclose during the first round sales. No cooling down period given. No explanation on risk involved. Caveat emptor.

Most of the staffs that brought their laptop to the office will fall victim of the RM10K live account. Those are eager to learn the forex. Their eagerness exploit by the partnerships to generate sales. The partnerships office only have one computer inside the director’s office. No computer found outside the director’s office. Instead, WiFi is set up to screen staffs that are eager to learn.

A Daily Sales Progress Report was designed to forced the staffs to do the sales in their family or relatives. Hence, the office is usually empty after 9AM.

For the staffs that brought personal laptop to the office, they are told to open their live account in the laptop. For staffs that don’t have laptop, they are told to manage their own account because the director is always not in the office. Since then, those who open the live account at laptop will keep on doing this. And those don’t have laptop will manage account through the director’s computer. They thought this is the way of live training. All the live accounts eventually get the margin calls after few days of trading. The director just points the finger to the respective staff: It is the staffs fault! The director cann’t manage the account because the staff open the account in their laptop! It is because the staffs choose to manage their account themselves!

For those who chose their account to manage by the management of other partnerships. Their accounts fate are no better. Average one trading done in few weeks. Each trading brought in one or two pips profit. At the end, trading brought more losses than gains.

The staffs forget their initial intention of looking for a job, not to become an investor at that time being.

Staffs that have plenty of “potential prospects” are promote as assistant manager or manager. They are given chances to interview job seekers. They are told to recruit only the job seekers that have big potential to open an live account.

Directors and managers did not enter their intials in the Daily Attendance Book. They are always late to office. They will call one the staff before come in. Asking them the condition of the office. They are affraid of being “catch” by the authorities.

Most of these partnerships didn’t display signboard. More often just a piece of A4 paper with the name of the company printed on it sticks at the entrance.

These partnerships change their location of operating office within the city every few months,lasted few years.

Their so called “money changers” change frequently too.

For those who have capital of RM500K and above, you have the chance to join Top Star Development Co Ltd as business partnership. Anyone?

69

Topstar Development is the head of all the ponzi scams mainly to target M’sia market. Nobody in the UK or overseas have heard of these companies. To be a forex broker you need to have a licence with the country’s securities commission and central bank or the futures association otherwise you are not “connected” to the financial market.

Topstar together with its other shell companies listed below, use the same software - itrader. All the feeds and news are sourced from one website - mp1.exchange.bz. The software is just a demo account with live price and chart but fake money. They act like an illegal bookie, give you fake credits after you wire-transfer to them. Once you lost money by trading on your own, they’ll offer to manage the account for you. And they’ll deliver superior results with the statements as proof. The truth is, their system is never connected to the real financial market, so all the trades are fictitious and never exist. They can manipulate the profit and loss and statements in the system just to convince you that you are making money so you can pump in more capital or refer to your friends.

70

Hi, I am a trader my self and I trade for living for about 4 years now. I have some friends keep on asking me regarding edgar. These are my comments:

  1. website unprofessional. come on, dealing with such kind of business with an armature websites??? ok, don’t judge book by its cover… next.

  2. what the… its unregulated??? Yes the company account is registered but not registered under any financial bodies such as The Securities Commission of new zealand. Example, if a bank is not registered under bank negara, do you think it is safe??? OK, to be fare, why not open an account with other legitimate broker like fxcm, ibfx,… and ask them to trade… I mean, at least if we made losses, its more transparent isn’t it…

  3. how can they simply say 30% profit??? go ask any professional trader and they only can give you the estimation not simply put 30%. sounds like those ponzi scheme huh… swisscash example… wow, in Switzerland, money safe heaven, easy income… these are all in people’s head during those days… after more then a year… gone… I have the feeling that edgar is using forex as just cover up…

  4. broker company have their customer support at least 24/5 at the website… how come email only? short of workers??? and yeah, its fishy when its from new zealand broker but only in sabah majority knew about these especially in keningau…

  5. how come after so many -ve words about edgar and the boss didn’t even have the guts to reply a few??? I only notice his disciple backing him up in this forum. why be afraid to come forward if he thinks that his edgar really legit? something to hide???

  6. yes, those who have small account and have withdrawn their profits… please… don’t take for granted to deposit more… because the small2 profits the gave might be a bait so you may want to consider deposit more. remember… edgar is not a regulated broker… bigger possibility its a ponzi.

Lets think of these…

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” - Warren Buffett

and do not invest on things we don’t have any education with it. people might talk a lot kinds of risk to persuade you to invest on what they think might bring profits. But its best when you really know what risk are you in to and to control it. thats why its better to invest things that we know.

to those who have already invested, my opinion, take out all your investment… go and look for a regulated broker and then if you think that guy really can trade, go a head… as long as your money is much more secure. I also know that 1 person who tried to withdraw usd 30k, but haven’t got it… so beware…

these are my opinions and i might be wrong. but please, again, do your own research before jump into any conclusion.

market will open about another 11 hours, good luck and happy trade.

71

I agree with PipsConqueror. Edgar International may be registered in NZ, but the website is mostly visited by users from Malaysia, which is very weird for what is claimed an international company.

Check out from the web information company, Alexa. They have a statistic on web traffic for websites. alexa.com/siteinfo/edgar-international.org# Click on “Audience”.

It says “Edgar-international.org’s three-month global Alexa traffic rank is 2,879,155. We estimate that 86% of the site’s visitors are in Malaysia, where it has attained a traffic rank of 20,290. Visitors to the site view an average of 1.6 unique pages per day. Visitors to it spend about three minutes per visit to the site and two minutes per pageview”

Check out also on the fax number stated on Edgar’s official website. You’ll be surprised if you google their fax number (copy, paste and google the fax number that ends with 2727). Alot of companies sharing the same number. It could mean it is a number provided by virtual office management. i.e There is no real office, just virtual office.

Virtual office for financial service company which is not licensed by central bank? You really need to have great faith in them in order to do business with them, as they can always close down and disappear anytime leaving no trace behind. Like the musical chair, the music will stop anytime…

73

Edgar’s virtual office is provided by a company called Servcorp.
Search in google for: servcorp auckland PWC

Check out the fax number and office address of Servcorp, NZ. Exactly the same as Edgar’s.

From as low as NZD100 per month, they have people answering phone calls and accepting fax on your company’s behalf. There’s no real office. So where is the server, trading room, dealing desk? Everything done at the boss home?

Did the trade really exist or did they manipulate and backdate the data in the system?

Only the boss got the answer. The music will stop anytime…

74

i have a strong doubt that recently edgar is promoting to trade 12 time per month from Oct to Nov… will it be a final destination for them to attract those investor to invite more of their friends to invest and once they got the max investors they will just closed down and left no trace even those broker agent will not know what going on…

75

Hi mate, please check below CFTC Monthly Reports as of September 2010,

31 EASY FOREX US LTD N NFA: 08/31/2010 2,985,657 1,000,000 1,985,657 0 0
32 ELECTRONIC BROKERAGE SYSTEMS LLC Y NFA: 08/31/2010 8,272,427 1,000,000 7,272,427 0 0
This is a report to show all FCMs trading volume monthly, if Edgar truly invest their client’s investment fund in financial market, then Edgar should be in name list of this report. According to sorting of alphabetical arrangement, Edgar should be in between these two business entities (FCMs), which have reference number 32. However, you won’t find Edgar in this report. We don’t need to spend so much effort to find evidence to prove Edgar is a legitimate company. But, a monthly report from CFTC did explain everything. Like what pay and pay said, Edgar is not an investment company but just a ponzi game. All Financial Capital Market (FCMs) need to registered with financial market in order to trade, CFTC is the main forex futures market for the world. Thanks.

76

hi bestwishes, the information shown in CFTC under FCMs is all the gobal trading company registered under financial market in order to trade???

77

Hi
I believe CFTC is a US government body which monitors the option and futures trading in the US only. One of the markets they monitor is the US Futures Exchange.

NZ and Australian brokers are usually monitored by their respective Securities Commission. For example LatitudeFX, a forex broker based in NZ, is licensed both under Securities Commission New Zealand and Australian Securities and Investment Commission (ASIC) as futures dealer. Another broker, based in Australia, OZ Forex, is licensed by ASIC only.

But Edgar International’s name couldn’t be found in any of those securities commission’s website. The authenticity of the company as a forex broker remains a doubt. This also leads to the question did the trade really exist?

The fund manager is so good yet nobody knows who he is nor heard of the company’s name. If you google in alexa.com you’ll find edgar international website is visited mostly by Malaysian.

Gut feeling tells me this “game” will not last. Somebody will get hurt… those who did not manage to get out quick enough will have to say goodbye to whatever balance they have inside. Question is who will be the unlucky one and when will this happens. Next month? Next year? 5 years later? When the boss finally runs out of new money to pay the existing investors… that’s when the bubble will burst.

If you are already in the game, you have to work harder in order to keep this Edgar-mania game running. Either help the boss find more new money by getting more friends to join or pull out quick before it bursts.

78

But things is getting strange, Edgar has stop new investor to join in and stop those who wanna top up their fund. reason behind is they are short of admin stuff and they are sorting out the mass now… Anyone can enlighten this?

79

As Kiwi, I can assure you that they aren’t trading over here, all they have is a company set up in New Zealand. Anyone can set up a company in NZ, I could do it tomorrow if I wanted. Doesn’t mean I’m actually trading here or have anything to do with New Zealand. They’re using it as a front. Their office in the PWC tower is a virtual office only and requires no actual staff or physical presence. Why aren’t they trading here? I can tell you the answer but you wont like it. It’s because they’re a sham, no other reason, why else would you do it like that, seriously? We’ve got plenty of people over here to sell to but they aren’t, why, because they wouldn’t last a month before being flushed out by our securities commission once we notified them. The only reason they haven’t been is because they aren’t trading over here. We have no jurisdiction over the rest of the world. Hence, unfortunately there is nothing we can do about it. We could get them stricken off the companies register but we have no evidence over here to do that, and would that stop them anyway? No because they would just show the certificate they have anyway or change their name. Sorry guys, gotta be careful out there. Couple of rules I live by:
[ul]
[li]If something seems to good to be true it probably is;
[/li][li]If you can’t sleep on the decision it’s not worth it;
[/li][li]If an opportunity is too good to miss out on, why is it being pushed on you, instead of everyone clammering over each other to get to it.
[/li][/ul]

80

Thanks for the confirmation, one pip.

It’s good to have someone from NZ to tell us that Edgar is not trading in NZ and not at all well known to the locals there.

So what actually is Edgar? Not an “international company” as claimed but many agreed Edgar made them alot of money. So far nobody has ever lost money. So where did they find the money to pay for people’s profit? Answer is obvious, ponzi method.

And now that they have stopped accepting money? Why would they need extra admin staff? The bank will accept the wire-transfer on the company’s behalf not the admin staff. The admin staff just need to key-in into the computer system. How shortage of staff can that be until they have to stop money coming in? Could it be their Hang Seng bank acc is frozen and they have no temporary bank accounts to accept the money?

So, no more new money coming in. Can they still pay the existing investors their profit? Maybe. Depending how much cash reserve they have left before they can start taking money again. Rational investors would have pulled out by now. Irrational and emotional ones will continue to be hopeful and live in denial.

81

Apart from Edgar International, are there other companies or traders out there which/who can make us profit (trading for us) like Edgar?

Has anyone met the “Trading Manager”?

82

100% profit in 3 months, consistently for more than a year. Not even the best hedge fund can do that.

A quote from one of the forumer said “If the return is so consistent and lucrative say at 30% a month… How much do you think you’ll have 5 years from now if you invest RM1,000 today??? —> RM7,000,000,000 (7 BILLION)!!!”

Edgar should take the top spot as the best fund house in the world.

Such a genius fund manager still working for a small company like Edgar and targeting customers in Malaysia with minimum USD300 per account instead of trading for those billionaires… and the most interesting thing is nobody knows the name of this genius fund manager. Someone please invite him to share his view on Bloomberg.

Too good to be true? Does this person really exist? lol

83

Guys, edgar company has change quite a number of banks within months. From HSBC Hong Kong to Hang Seng and now currently change to ANZ BANK in NZ…

things to take note:

Before you trade in commodities or futures, know the kinds and signs of fraud and the basics of futures trading.

Protect yourself from the many types of commodities fraud that exist in today’s financial markets.

Be suspicious of a promise of high profits with low risk. Scams that falsely promise high profits with low risks are everywhere. Many are targeted at specific ethnic communities using the language of that community, from New York to South Florida, from the Southwest to California, and in other areas.

Be wary of any firm or individual offering to sell you commodity futures or options on commodities, including

* precious metals, such as silver or gold
* foreign currency, such as Euros, Yen, or Deutschmarks, or
* crude oil, heating oil, unleaded gas, or agricultural products such as corn, soybeans, or cattle.

Be wary of any firm or individual offering to trade your money for you in commodity futures or options, or to pool your money with other customers.

The commodity futures and option markets are very risky and you can lose your entire investment very quickly. Anyone who claims otherwise might be breaking the law. Always ask for proof.

Watch Out For These Warning Signs of Fraud:

* Get-rich-quick schemes that sound too good to be true. There’s never a free lunch. Be very careful if you recently retired or came into money and you’re looking for a safe investment. You could be a very attractive target for a crook. Once your money is gone, it can be impossible to get it back.

* Predictions or guarantees of large profits. Always get as much information as you can about a firm or individual’s track record and verify that information—even if you know the people involved or they are recommended by friends or relatives. If you can’t get solid information about your investment and the company, don’t invest. Before you invest, always check it out with someone whose financial advice you can trust.

* Promises of little or no financial risk. Be suspicious if the firm or individual says there is little risk. Be suspicious if someone tells you that a written risk disclosure statement is only a routine formality. Written risk disclosure statements are important to read thoroughly and understand.

* Claims of trading in the “Interbank Market.” If a firm claims that they will trade foreign currency for you in the interbank market, or that you should trade in the interbank market, be cautious. The term “interbank market” refers to a loose network of currency transactions negotiated between financial institutions, usually banks and investment banks, and other large companies.

* Unsolicited telephone calls about investing. Be skeptical if someone you don’t know calls you about investment opportunities.

* Someone asking you to send cash immediately. Be very cautious if someone tries to convince you to send cash or transfer money to them immediately by overnight express, the Internet, mail, or any other method.
84

This is getting very interesting. I think Edgar is running away from the authorities yet they want to collect more money from their investors. This time they put on a new mask, as Legion Trade Limited.

Check out the latest Deposit Advice Notice. They ask the investors to deposit into ANZ bank under the account of Legion Trade Limited. To open a bank acc in NZ, you need to be a registered company. A search in the company registrar of NZ shows this:

Company number: 1907546
Incorporation Date: 15 Feb 2007
Company Status: Registered
Entity type: NZ Limited Company
Constitution filed:Yes
AR filing month: June , last filed on 03 Jun 2010
Company Addresses: Registered Office
Bdo Auckland, Level 2, 116 Harris Road, East Tamaki, Auckland , New Zealand
Address for service
Bdo Auckland, Level 2, 116 Harris Road, East Tamaki, Auckland , New Zealand
View all addresses

Directors Showing 1 of 1 directors
Abdul Mutalib Abdul RAHMAN
House No. 66, Austral 11, Austral Park, Kepayan Ridge, 88300 Kota Kinabalu, Sabah, Malaysia ,

Encik Abdul Mutalib, someone staying in Austral Park is a director of the company that accepts all the cash on behalf of Edgar. This is so interesting!

85

The letter continued:

"In order to convenience our clients in the Asia Regions, we hereby wish to provide the following bank accounts for the purpose of collecting Cash Deposit on our behalf:

Bank Name : CIMB
Account Name : ZOOK VISION
Account Number : 14290006793052
Bank Name : CIMB
Account Name : TSL MARKETING
Account Number : 14290006881052
Bank Name : MBB
Account Name : TSL MARKETING
Account Number : 514842016562"

Asia Regions? Or just Malaysia? Where is the swift code and bank address for other Asian Regions investors who wish to wire-transfer? MBB is a short abbrev of Maybank used only by Malaysians. Obviously this account is opened specifically to target Malaysians. Any MBB or CIMB staff can check if these accounts are actually opened in Kota Kinabalu?

Anyone wants to pay Mr Abdul Mutalib Abdul RAHMAN a visit? Maybe he’s the genius fund manager we’ve been admiring at all this while. LOL