I'v reported DepthTrade. Does anybody know who DT ?

[BSD]

This isn't my style at all, and unbelievably I have never reported DT to date.

But because he just simply isn't letting up, and because I am just sick and tired of having a guy here who wants to manage other peoples money but is unwilling to provide any proof that he has ever traded profitably in his life, I have - after ages - gone the final step and reported him.

The email I sent to the NFA today was this:


Dear NFA team,

I am a member on a financial traders board, T2W Day Trading & Forex Community

There is another member here who goes by the name of DepthTrade who is a US citizen and is not authorised or registered by you, who does not have an audit of his past performance, yet is trying to attract people here to invest with him by constantly posting about alleged returns that he claims to achieve on the currency markets.

In the last week he has removed these claims, but he had a signature that clearly stated:

"Hello and welcome to T2W.
Professional, legal currency management.
Please see my profile for more information."

In his profile - which has also been edited by now - he stated this:

"Top-Tier FX account management.
The strategy that I use is one derived from centuries old techniques, synthesized with modern computing and charting.

Providing 'Click & Go' currency positioning. Retain all financial access. Manage personal banking, transfers and fx trading via your linked online cash account.
Client phone support.
Fee: 3.65% A.P.R. of balance, plus 25% of profit.
Targeting 1% per week."

Is this legal ?

Can anybody just register on a message board and post alleged unnproven returns to attract other investors without being authorised or registered by you nor be able to provide proof of past performance ?

Here is a thread questioning the legality of his actions:

http://www.trade2win.com/boards/gen...liciting-funds-here-without-registration.html

Here is his thread where he posts his alleged daily returns which he is posting in an attempt to attract investors:

http://www.trade2win.com/boards/forex-news-analysis/21295-classic-forex-82.html

Here he solicited funds outright:

http://www.trade2win.com/boards/com...advice-forex-managed-accounts.html#post394351

Thank you and looking forward to your reply.

Markus



The response came just a few hours later, Joe from the NFA wants this additional info:

Markus,

Your email has been forwarded to me for reply. I reviewed the website links you included and was unable to establish definitively that the individual referenced is a US Person. As you point out, DepthTrade does not appear to be registered with the CFTC or an NFA Member. NFA's jurisdiction only extends to its Members; as such, the only action we can take in this matter is to refer it to regulatory authorities with jurisdiction over non-registered firms.

If there is additional information you could provide concerning this individual (name, website address, other promotional materials, etc.) that might further establish that he is engaging in fraud or other activities that violate CFTC Regulations, I would be happy to accept them.

Kind Regards,

Joe Patrick
Manager
NFA Compliance


So if anybody knows Depth Trades URL or identity etc etc please send info here to the responsible US regulators:

[email protected]

People, lets get real.

If anybody has a profitable track record they would have that audited as the best proof and marketing material for their fund imaginable.

Anybody who wants to manage your money but can't prove they have a profitable trading past is just going to con you.

That's just clear as mud !

 

[BSD]

I belive what the NFA simply want is Depth Trades URL.

If one can walk the talk, this would never have happened !

 

[searchlight]

This isn't my style at all, and unbelievably I have never reported DT to date.

But because he just simply isn't letting up, and because I am just sick and tired of having a guy here who wants to manage other peoples money but is unwilling to provide any proof that he has ever traded profitably in his life, I have - after ages - gone the final step and reported him.

The email I sent to the NFA today was this:


Dear NFA team,

I am a member on a financial traders board, T2W Day Trading & Forex Community

There is another member here who goes by the name of DepthTrade who is a US citizen and is not authorised or registered by you, who does not have an audit of his past performance, yet is trying to attract people here to invest with him by constantly posting about alleged returns that he claims to achieve on the currency markets.

In the last week he has removed these claims, but he had a signature that clearly stated:

"Hello and welcome to T2W.
Professional, legal currency management.
Please see my profile for more information."

In his profile - which has also been edited by now - he stated this:

"Top-Tier FX account management.
The strategy that I use is one derived from centuries old techniques, synthesized with modern computing and charting.

Providing 'Click & Go' currency positioning. Retain all financial access. Manage personal banking, transfers and fx trading via your linked online cash account.
Client phone support.
Fee: 3.65% A.P.R. of balance, plus 25% of profit.
Targeting 1% per week."

Is this legal ?

Can anybody just register on a message board and post alleged unnproven returns to attract other investors without being authorised or registered by you nor be able to provide proof of past performance ?

Here is a thread questioning the legality of his actions:

http://www.trade2win.com/boards/gen...liciting-funds-here-without-registration.html

Here is his thread where he posts his alleged daily returns which he is posting in an attempt to attract investors:

http://www.trade2win.com/boards/forex-news-analysis/21295-classic-forex-82.html

Here he solicited funds outright:

http://www.trade2win.com/boards/com...advice-forex-managed-accounts.html#post394351

Thank you and looking forward to your reply.

Markus



The response came just a few hours later, Joe from the NFA wants this additional info:

Markus,

Your email has been forwarded to me for reply. I reviewed the website links you included and was unable to establish definitively that the individual referenced is a US Person. As you point out, DepthTrade does not appear to be registered with the CFTC or an NFA Member. NFA's jurisdiction only extends to its Members; as such, the only action we can take in this matter is to refer it to regulatory authorities with jurisdiction over non-registered firms.

If there is additional information you could provide concerning this individual (name, website address, other promotional materials, etc.) that might further establish that he is engaging in fraud or other activities that violate CFTC Regulations, I would be happy to accept them.

Kind Regards,

Joe Patrick
Manager
NFA Compliance


So if anybody knows Depth Trades URL or identity etc etc please send info here to the responsible US regulators:

[email protected]

People, lets get real.

If anybody has a profitable track record they would have that audited as the best proof and marketing material for their fund imaginable.

Anybody who wants to manage your money but can't prove they have a profitable trading past is just going to con you.

That's just clear as mud !

Since you have reported this to the relevant authorities and anybody who has an additional info can send it to them as well; hopefully this is your last post on the subject.

Searchlight.

 

[BSD]

PS, the email I sent the US regulators from the NFA was this:


Dear NFA team,

I am a member on a financial traders board, T2W Day Trading & Forex Community

There is another member there who goes by the name of DepthTrade who is a US citizen and is not authorised or registered by you, who does not have an audit of his past performance, yet is trying to attract people there to invest with him by constantly posting about alleged returns that he claims to achieve on the currency markets.

In the last week he has removed these claims, but he had a signature that clearly stated:

"Hello and welcome to T2W.
Professional, legal currency management.
Please see my profile for more information."

In his profile - which has also been edited by now - he stated this:

"Top-Tier FX account management.
The strategy that I use is one derived from centuries old techniques, synthesized with modern computing and charting.

Providing 'Click & Go' currency positioning. Retain all financial access. Manage personal banking, transfers and fx trading via your linked online cash account.
Client phone support.
Fee: 3.65% A.P.R. of balance, plus 25% of profit.
Targeting 1% per week."

Is this legal ?

Can anybody just register on a message board and post alleged unnproven returns to attract other investors without being authorised or registered by you nor be able to provide proof of past performance ?

Here is a thread questioning the legality of his actions:

http://www.trade2win.com/boards/gen...liciting-funds-here-without-registration.html

Here is his thread where he posts his alleged daily returns which he is posting in an attempt to attract investors:

http://www.trade2win.com/boards/forex-news-analysis/21295-classic-forex-82.html

Thank you and looking forward to your reply.

Markus


And thats what I got the above response from NFA's Joe to within hours,

 

[N Rothschild]

just contact that guy who he returned like 1% for in 6months, im sure he might have an idea

 

[BSD]

Lol, the amazing thing is I've never gone this far either.

But then I sit at home and think;

What do I like here ???

I like the comraderie, the good spirits, the fact that here we have a community that can and does have tremendous fun AND still do its work and make money.

So. On the one side.

Do we really need losers here who never post about anything else than their makebelieve returns and / or shooting people ???

Might just be me, but I say hastalavista to all crooks and wannabees !

 

[Neoripley]

Repost (previous disappeared?!)

Wish I could help. He intercepted a thread of mine once (or IM'd me, can't remember which) and I had a look at his profile. But to me he looks more like a part time DJ at a strip club in Norfolk than a Forex trader, so I ignored the outlandish claims. I don't like to judge on appearances but I've read a few of your 'conversations' and the guy does seem a bit

Anyway, hope you find the info you need. At the end of the day if the guy is not licensed to trade other peoples' money, he should not be doing so.

 

[belflan]

Lol, the amazing thing is I've never gone this far either.

tout

you know there are ways of dealing with people like you

 

[BSD]

Neo mate, I've got a reporter on hand who's just totally hungry for all this.

Next to the regulators, haha.

Please PM me if you remember /recall anything, particularly concerning any crooks.

 

[BSD]

Repost (previous disappeared?!)

Wish I could help. He intercepted a thread of mine once (or IM'd me, can't remember which) and I had a look at his profile. But to me he looks more like a part time DJ at a strip club in Norfolk than a Forex trader, so I ignored the outlandish claims. I don't like to judge on appearances but I've read a few of your 'conversations' and the guy does seem a bit

Anyway, hope you find the info you need. At the end of the day if the guy is not licensed to trade with other peoples' money, he should not be doing so.

Wishing you all the best mate

Gotta go out and party now !

 

[Neoripley]

Gotta go out and party now !

Enjoy! I got a big day tomorrow, so lying low tonite

 

[BSD]

Have fun mate when youre going out :cheesy:

 

[Sharky]

BSD, closing this thread, and removing it shortly. Your concerns have already been noted and we've assured you the matter will be looked into, so it's unacceptable to continue to pursuit the matter publicly.