Not only did they claim it in multiple forum posts they even published it on their secondary website - I have taken a copy for the FCA.
Good luck trying to make a complaint with redress from the UK via ASIC.
If you do not use a UK FCA Authorised firm in the UK you are not Financial Services Compensation Scheme (FSCS) covered & you are not covered by the Financial Ombudsman.
Further to your question, “but do control the trading accounts and how the money is traded”, read up on the Financial Services Act 2000.
Further guidance is here in the perimeter section - handbook fca org uk/handbook/PERG/
And your answer becomes clear.
But ignore all this and you could give your money to a bunch of 20 year old broker affiliate scammers because you are desperate to fund them.
Everyone who signs up with prophet does so via IC Market and IC Market is FCA regulated.
Prophet can’t touch your money, you only copy the trades from their master account
Sometimes there are dumb 40 years olds and extremely smart 20 year olds and vice versa.
Your smear campaign is not going to work because I found out from a trusted source and aquantance. I signed up with little research as she has her head screwed on. A trusted recommendation is worth gold (literally in this case)
Friends and family of investors sign up.
Happy to provide evidence that I am real, a client since Dec 2019 with happy results so far.
This is hilarious. I have been with prophet for over a year and returned well over 100%. I know it is hard to swallow that a bunch of kids can do more in the FX space in no time at all than you have achieved in your whole career. I personally don’t like the way they run their company, very unprofessional and they have loads of bellend clients. But it is not a scam. I didnt even use their referral code with the broker when I opened my account since I already had an IC markets account, so there is your theory on that out the window. Moreover, as a member of IC markets IB program myself, there is no upfront reward for new accounts, only commissions on trades, and frankly they are pathetic. Why are you so determined to hate this? Heres a suggestion, sign up as a client with them and do some proper research.
More lies from ProphetFX.
It should be abundantly clear this yet another burner/fake account hit job - within minutes of each other - they are not very smart.
See the lies?
1. IC Markets is not FCA regulated.
2. ProphetFX TradehuntFX FrontlineFX are not FCA regulated.
3. You are not protected by the Financial Services Compensation Scheme FSCS nor the Financial Ombudsman.
4. I am an investigative journalist who has just had Ashley Richards / James Watts taken down by the BBC.
ProphetFX - Jack Harwood and Edward Elford prey on people in forums claiming high returns and that your money is safe.
They are master manipulators using fake screen shots, fake videos - its all lies.
This is a group of 20 year old scammers running a broker affiliate scam - you have been warned multiple times so if you lose your money its your own fault.
You can either believe fake/burner accounts run by ProphetFX & TradehuntFX & FrontlineFX or you can believe me, someone taking these scammers down one by one.
IC Markets is regulated by the FSA of Seychelles. What a joke. I would never deposit money with a firm based outside the UK and definitely not one based in the Seychelles.
You are a clown with psychopathetic tendencies (evidenced by the amount of energy you are chanelling into this all over the net and your obsession with prophet fx). Or someone nasty who has a personal Agenda against them.
You couldn’t even spell right on the prophet fx trustpilot page and full of anger and bullshit…
No way are you an investigative journalist who tool the BBC down. If so provide evidence. If you are a REAL investigative journalist you would have tried to contact the various clients and heard their stories… You are a full of hot air.
I hope prophet Wil sue you for all its worth.
Ask me what evidence you need from me that I am a real person, a real client with a real track record of profits (as all the other clients)… While you are just hiding and making up lies
I think we can draw some conclusions here, prophet are only a trade copying service essentially, you take the risk of accepting their trades when you sign up, if you aren’t happy with trusting their system then dont…
this isn’t a high flying top investing company , this is a small company who are just starting out, you aren’t protected by all the financial backings but me and everyone else involved is very much aware of this. Even my revolut bank account isn’t protected by the FSCS scheme, i never dreamed that this sort of thing would be. Just because they don’t have everything you would want from a financial investment doesn’t mean they are scammers, this is the risk you take when going for these types of investments, i would never have gone for it based entirely from online insight and knowledge. I had a good friend i could see in person who had been involved for several months… the choice is yours… you do your research and make the risks you choose in terms of the trade signal provider and the broker you deposit with.
They are not “scammers” though, just guys who are very clever making their way in the industry. Maybe they or someone working on their behalf has simply been misleading people with the facts you have listed and that is Something i imagine they now regret. With all the real forex scams out there i don’t think its fair to label these guys as one just simply because they don’t offer the same protection to your money as a bank, i think you are trying to hold them to a higher standard than is practical, but thats down to the individual to decide upon before investing with anything.
Nice try James, its clear you are in bed with them more than you let on from you whimisical posts/discussion designed to play the devils advocate - of course its all BS isn’t it James as I have already discussed with you.
You are not some random speculator that happens to turn up on the forum where ProphetFX have been exposed are you James?
Stating you are FCA regulated when you are not is fraud. End of.
Actively trading on behalf of other is FCA regulated activity and you know it.
Its not signals - yet more lies.
You only have to watch their online activity - fake videos and Martingale EA’s sucking people in to realise this lot are simply broker affiliate scammers.
Its exactly the same format as Ashley Richards, James Watts & Daniel Legg.
Trying to pass this off as some innovative little investment company when Jack Harwood has a trail of companies with no money passing through when hes clearly making hundreds of thousands scamming and his history of selling the now banned binary options is disgusting.
Jack Harwood (ProphetFX / Prophet Enterprise Limited / TradehuntFX / FrontlineFX) is a scammer.
ProphetFX is a scam - the evidence is here and via Google for all to see. As always everything is on the blog - I have simply copied and pasted the evidence.
You can tell who are truly novices when it comes to financial investments clearly. If a service ever claimed to be regulated and they weren’t there’s nothing to say after that. Not only is the site horrid as hell but so far all the defenders are people who literally have less than 10 post. If you guys want to prove it’s true then POST PROOF just like the OP posted PROOF dictating what they’re doing is shady. We aren’t going to listen to any of you random guys until you post proof to back up your point. Not some random statements saying we signed up and have been making money since whatever. Something that we can say ok maybe their legit. Other than that you guys keep coming to defend prophet without dropping any semblance of legit information to help others make informed opinions on this company.
If the above wasn’t enough – this is.
Truth always finds a way and here it is.
This is irrefutable evidence on how they are gaming myfxbook, false advertising, lying and committing serious fraud.
These are not allegations/accusations – this is solid fact.
All of this information has been copied, saved and stored offline away from harm, away from me and for the authorities to view/use. I know that Prophetfx will delete this and any record/evidence as soon as this post goes up. Further, their backers/associates have been asking for my address to cause me harm – I have evidence of it.
You will have read in the main article that I have a great deal of experience in MT4 and using Myfxbook.
Well I knew that Myfxbook is a notoriously poor product.
I knew that Metatrader 4 can be gamed – either via the MT4 broker server scam or by people using demo accounts.
In this case ProphetFX are using a real account. Edward Elford had locked down the account so the only data I had to use was the Trade Summary.
It wasn’t enough data.
Here is the Edward Elford of ProphetFX myfxbook account;
This took some extra investigation to work out how and what ProphetFX are doing to achieve these huge gains…
Luckily, in their stupidity – they left one of their TradehuntFX accounts open.
Here I am able to show you what and how ProphetFX are false advertising, lying & committing serious fraud.
If you look at the TradeHuntFX Website Myfxbook page – look what you see…
This is from the TradehuntFX (same lot as ProphetFX) website
What is the ‘TradeCopier’?
The TradeCopier facility is an empirically proven and exhaustively tested system that mirrors Forex trading activity from our master account and places trades onto your account. This enables consistent and incremental account growth to all connected clients.
How does it work?
The system carefully analyses market movement and volumes within any given pair we are trading. If price moves against us in one direction, the system will begin a process to ‘hedge’ itself out of that trade and close with a profit. The exact system methodology is of course confidential, but the full results from the TradeCopier past activity are available for scrutiny.
How much profit can I expect each month or average over a year?
Our month on month target growth is circa 15%-20%, some months may be less, and others more. Forex accounts do not grow by an identical amount each month but our past results do demonstrate consistent growth over a rolling period, which is our core aim. All TradeCopier clients see the exact same % increase, no matter if you have a £1,000 account, or £100,000.
How much does it cost?
There is a small monthly fixed charge and then a profits based % commission charge. However for THFX members we have removed the charge and the commission charge is reduced to 30%. Non members are charged £10 a month with a 45% commission charge. Billing is completed at the end of each calendar month. You then have 7 days in which to settle your bill. Failure to settle your account will result in it being disconnected.
How much can I lose?
The maximum drawdown that has been recorded is 7.8%, but this does not mean that higher drawdown will not happen, this is not something to be concerned by. This is just how the system operates, in fact it soon recovered after this. The market is very unpredictable at times, we have carried out extensive amounts of back testing and have never lost an account to drawdown/market conditions. Please refer to our full risk disclaimer.
When can I withdraw the profits?
You are able to withdraw at any stage you wish, however there are times when it is not advisable to withdraw such as when there are live trades open. All we ask is that if you wish to withdraw it’s always best to speak to Edward first. Please ensure you are able to make the due commissions payment based on the profits so far. Otherwise you will be disconnected.
Who can handle my funds?
Funds are held in your own IC markets account and only you are able to with withdrawn or move them. We will never ask for your Broker account log in details ever. We only need your MT4 trading account details so that we can link your account to the TradeCopier master account. Individual trading account log in credentials give us ZERO access to your personal funds.
What about a large unexpected market movement?
Our exposed risk is so small that even during large moves we are not reaching high DD. 300 pips the otherway and we are around 7% DD, so it’s totally within out risk settings to be able to deal with a 500 pip spike or market crash.
It is the VERY SAME red line and yellow line (we are told its an EA, the yellow line confirms its the very same underlying data) – but what is the glaring difference? – That huge line up on the ProphetFX chart in September 2019 is absent from the TradehuntFX Myfxbook page.
This excel spreadsheet is the underlying data from TradeHuntFX Myfxbook (remember the very same “EA” that ProphetFX is)…
Oh damn guys and gals what is that???
That is TradehuntFX(ProphetFX) gaming MyFxbook results.
They are withdrawing and depositing to game the Myfxbook Growth graph.
They hit a win, leverage up then withdraw from the account to give the impression of huge gains.
Note aspects of Myfxbook are locked down on both ProphetFX and TradehuntFX so you cannot actually see what is going on?
Well as above – they TradehuntFX Myfxbook has elements left open. We can see in the excel sheet data that they are withdrawing and depositing to show huge gains.
In the case of Edward Elfords ProphetFX Myfxbook you can see this is how he has created a massive 426% gain from September 16th 2019 – September 20th 2019.
This is done by ramping up winning trades then withdrawing money from the account so it looks like you have had a massive win – clever huh? Yes, except when you are selling off the back of this.
It gets worse because we have already seen in the literature from ProphetFX, TradeHuntFX & FrontlineFX that this is risk averse and no major drawdown – so what do you also see in the data?
So there you go – Drawdown was so bad they had to fund the account.
Yet another dimension to the level of fraud committed by ProphetFX, TradeHuntFX & FrontlineFX.
This happens over and over and over. There are withdrawals & deposits over and over to make this look like they made huge gains - its all lies.
Not only are they on a 500:1 ratio account with IC Markets, they are even withdrawing and depositing on top of that - and even screwing that up.
So reality is – ProphetFX/TradehuntFX/FrontlineFX is/are actually terrible at trading, not to mention a total scam.
I am not even sure the ‘results’ are an EA anymore. What I do know is, this lot have now been caught with their pants down.
So to recap;
1. The Myfxbook graph is lies by gaming the growth graph by withdrawing and depositing – the use of it as sales material is false advertising & committing fraud.
2. Hiding true trading results is false advertising & committing fraud.
This lot thought they were untouchable – their stupidity has exposed them for who they really are – fraudsters.
I’m glad you posted all these details even though we knew they were frauds from day 1.
The sad thing about this is they’re truly hardworking people trying to make some side money through honest means that get bamboozled and this will change their outlook on potential opportunities like these. I had a friend a few years back that had invested in a forex scam which made me very skeptical once I first started. Until I did my research and understood just like any industry or business their are some small crooks chasing after your pennies. Anywho can’t wait to hear the response to this from the young mates.
