The next Toptrader / 1st Floor Investments

Hey there,

I just received this email about "the next toptrader" (similarities to certain TV shows seem to be intended), claiming that the winner receives EUR 1 million in prize money (interesting) and a job as a fund manager (not so interesting after getting the EUR 1m).

Unlike other trading contests, this one is with real money. You have to fund an account at Alpari with EUR 1,000 (however, you can compete with 4 accounts - each funded with EUR 1,000 - with different strategies, if you wish). Trading starts early Oct. and ends end of Dec.

The company offering this is 1st Floor Investments, a seller of MetaTrader EAs.

Now my question: Does anyone of you know anything about this company?

As the company is registered in Panama, this gives me an odd feeling about the whole thing. In addition, I asked myself, where they did get the EUR 1m from (from selling EAs???)? And what is their benefit from this, except for some commissions from Alpari (can these be so huge?)?

On the other hand, I do not see how they could harm the participants (... except for the time wasted with a EUR 1,000 account).

Here are their websites:

The Next Toptrader - you can be the next!
1st Floor Investments Inc. expert advisor metatrader trading

What do you think about all this?

Best regards,
K*

karoshiman said:

As the company is registered in Panama

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FX Bucket shop + Panama + Talk of big money = :cheesy::cheesy::cheesy::cheesy::cheesy:

anley said:

FX Bucket shop + Panama + Talk of big money = :cheesy::cheesy::cheesy::cheesy::cheesy:

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Are you referring to Alpari with the "FX Bucket shop" comment? Why? Could you please explain your experience with them?

karoshiman said:

Are you referring to Alpari with the "FX Bucket shop" comment? Why? Could you please explain your experience with them?

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Russian, based in Cyprus. Isn't that enough?

'Next Top Trader' website http://the-next-toptrader.com/ is registered to

CEO the-next-toptrader
the-next-toptrader
World Trade Center Calle 53
Panama City, 5300, PA
email address [email protected]

That is the same registration details (address, e mail address) as Pantyhose clips - Pantyhoseclips | search for free pantyhose movies

Now do you really think they are going to give you a million euros? Seriously, you dont think this just might be a bit of a con?

anley said:

Russian, based in Cyprus. Isn't that enough?

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Russian companies often are registered in Cyprus due to tax reasons. I did work with different russian companies and they all wanted to have a Cyprus based company for any transactions. So, this alone and their origin is not a reason for me...

Actual cases of fraud would be more helpful.

I have an account with them since June or so and had no problems so far. They are far better/faster with their executions compared to, for instance, Saxobank, where I (still) have my second account (besides the fact that the Saxobank platform sucks compared to MT4).

By the way, MetaQuotes - although no broker - is also based in Cyprus and they have also a Russion/Ukrainian background. Are they fraudulent due to this too? There are 1 or 2 people out there using their software...

Anyway, back to the original questions of my initial post above.

Any other "qualified" comments to my original post?

pboyles said:

'Next Top Trader' website The Next Toptrader - you can be the next! is registered to

....

Now do you really think they are going to give you a million euros? Seriously, you dont think this just might be a bit of a con?

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Hmm... why do you think I've posted this question on this forum? Because I am sure that they are able or intend to give a million euros to anyone?

The point is, I just do not understand the con - if any.

As said in the original post: "I do not see how they could harm the participants (... except for the time wasted with a EUR 1,000 account)."

But thanks for the email address check... this just adds to the "odd feeling"...

karoshiman said:

Hmm... why do you think I've posted this question on this forum? Because I am sure that they are able or intend to give a million euros to anyone?

The point is, I just do not understand the con - if any.

As said in the original post: "I do not see how they could harm the participants (... except for the time wasted with a EUR 1,000 account)."

But thanks for the email address check... this just adds to the "odd feeling"...

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They will get a slice of commission from Alpari when people open accounts, they'll take that and then the winner will be announced. I'll give you a clue, it wont be you but you'll have been paying commissions to Alpari and a percentage to the pantyhose people for a year.

pboyles said:

They will get a slice of commission from Alpari when people open accounts, they'll take that and then the winner will be announced. I'll give you a clue, it wont be you but you'll have been paying commissions to Alpari and a percentage to the pantyhose people for a year.

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Yeah, I think they are even just going for the commissions for the period of the contest. If enough people participate, this will be quite an amount of money. They won't pay out anything to anyone... and if the winner tries to sue them... well, try to sue a company located in Panama... good luck! ;-)

Nah... going to skip this one! ;-)

karoshiman said:

Yeah, I think they are even just going for the commissions for the period of the contest. If enough people participate, this will be quite an amount of money. They won't pay out anything to anyone... and if the winner tries to sue them... well, try to sue a company located in Panama... good luck! ;-)

Nah... going to skip this one! ;-)

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Exactly, the winner will be Mr John Smith from London, either that or Juan from Panama, either way it wont be you.

pboyles said:

Exactly, the winner will be Mr John Smith from London, either that or Juan from Panama, either way it wont be you.

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Hmm, i ordered the Forex Octopus automatic Trading System some weeks ago at the Companys website 1st Floor Investments Inc. expert advisor metatrader trading

I ordered it because they show a verified real money account from myfxbook.com there which works very well. And it is not possible to fake a verified myfxbook real money account. I have nearly same profits with this system on my own account. So from my point of view everything is o.k. Panama o.k. this is something thinking about...

But i think this location of the company is due to tax reasons and law reasons. Panama makes everything quiet easier...

So from my point of view i will take part in this contest and lets see what happen... What can i loose? The account is on my name and i trade every day. why should i not trade with the chance of 1 million? :clap:

Can you please post the link for the myfxbook account ?