The SpiceIslander TalkShop
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Date: July 23, 2008 at 06:26:26
From: ekard
Subject: Re: S.G.L. Holdings Ltd
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Lets get some ideas flowing here, i realise some of us lost some cash here and might still be holding out for the GOOD news.
Evaluate this:
FOREX considerations to make:
1. Forex brokers - companies who provides the service for TRADERS to place their trades.
2. TRADERS - the persons who places a bid or ask on the forex market.
3. Managed forex Accounts - A forex trading account where the client uses a third party to place trades on their behelf ( dont with Power of Attorney )
4. 8% a Month is not impossible with Forex, currently the rules of FOREX has changed, but 8% over years without any loss seems to be a little difficult to believe.
5. To stick to a 20% risk rule and make 8% of your total investment, means that you will have to use make 8% four times in that month. Excluding draw downs (lost of equity).
6. FOREX is FOREX. HYIP is HYIP. Hope the 80% was not given to the trader also?
In the letter from SGL, it seems like the TRADE had actual control over the funds.
In regular practice of managed accounts it is known that a Trader has no access of the funds,h the brokage company keeps the funds, the trader trades on behalf of a client(SGL), the client(SGL) decided if and when they want to make widthdrawal.
This is done as to prevent exactly what is happening here with SGL. It means that SGL have not clearly provided evidence as to the structure that is used in Managed Forex account.
Moderated By: mod@spiceislandertalkshop.com
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