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3TG FX - Warning.

mlawson71
Sep 03 2016 at 09:45
1487 posts
togr posted:
mlawson71 posted:
The same company has a branch or an affiliate in Hungary called 5Gulden Corporation. The Hungarian National MNB recently issued a warning about them for not being registered and authorized to trade in the country. (https://smnweekly.com/2016/07/26/hungarys-mnb-warns-forex-broker-5gulden-corporation/). Hungary’s central bank conducted a market surveillance procedure and established that the two companies managed $6.3 million worth of client funds on a multiple-account-manager (MAM) account and warns investors not to do business with unauthorized firms.


I recall I was watching account named 5gulden with impressive results before 3TG FX crash
https://www.myfxbook.com/members/macskassy/5gulden-managed-account/1126270


That's interesting. They stopped trading back in June though. 3TGFX is also mentioned in their account description.

vontogr (togr)
Sep 04 2016 at 06:56
4862 posts
mlawson71 posted:
togr posted:
mlawson71 posted:
The same company has a branch or an affiliate in Hungary called 5Gulden Corporation. The Hungarian National MNB recently issued a warning about them for not being registered and authorized to trade in the country. (https://smnweekly.com/2016/07/26/hungarys-mnb-warns-forex-broker-5gulden-corporation/). Hungary’s central bank conducted a market surveillance procedure and established that the two companies managed $6.3 million worth of client funds on a multiple-account-manager (MAM) account and warns investors not to do business with unauthorized firms.


I recall I was watching account named 5gulden with impressive results before 3TG FX crash
https://www.myfxbook.com/members/macskassy/5gulden-managed-account/1126270


That's interesting. They stopped trading back in June though. 3TGFX is also mentioned in their account description.


The same scheme I suppose

LLewis
Oct 25 2016 at 06:39
35 posts
Thank you all for sharing about this FX scammers! Not sure how actually the regulators allow such companies to start operating at all!

Once a trader, always a trader!
jason538
Dec 29 2016 at 09:27
1 posts
Hi Guys,

For those who have lost their money with 3tgfx 5Gulden and or Perfecto should read this.

According to the Hungarian National Bank they have fined 3tgFX with a penalty of 675 Million Hungarian Forints.
They operated and managed the funds without any approval from the MNB (Hungarian National Bank)

In this article, https://www.portfolio.hu/befektetes/hetszaz_millios_gigabirsag_az_mnb-tol_ket_brokercegnek.3.241936.html?utm_source=index_main&utm_medium=portfolio_box&utm_campaign=portfoliobox if you can read Hungarian you can read the whole story.

At the bottom, the Hungarian Police is still investigating this issue as you can read and they say that everybody who has lost money with them should report it to the Hungarian Police ASAP.

' akiknek az érintett piaci szereplőkkel szemben befektetésükből fakadó követelésük van, azt - a nyomozó hatóság munkájának elősegítése érdekében - haladéktalanul jelezzék a Budapesti Rendőr-főkapitányságnál.'

Good luck to all of you.
I hope many other countries will follow what the Hungarian Government is doing to step up against scammers this big.

FTDFX (eruditeX)
Dec 29 2016 at 11:56
52 posts
I invested perfectofx in 2013-2014, when they were growing..

I couldn't believe the way they traded, because i tried to test the entries with my other brokers side by side. it was impossible. Since i was able to see the history and timing of trade and the charts.

After few months in, and 50% success fees, i cut the losses and withdrawn my investment successfully, when they just revamped perfectofx with 3tgfx together into a shared crm system in it.

In jan 2015, SNB CHF event caused massive flash crash to the market, and even top brokers like fxcm and alpari were hit badly due to risk management, even saxobank were chasing after the clients over negative balance.

Since then, most brokers including asic ones and others started to react to the risk management, and always advice traders to reduce leverage into big events or stop certain currencies from trading and reduce leverage as well.

I remembered correctly despite 3tgfx was in NZ as what i think i know, my money was wired to malta or spasse or something which i couldn't make sense.

Luckily, i was able to move my funds out noticing something was fishy. So the performance fees was 50%, and along with 5% penalty for early withdrawal but overall i was nett, so never really make or lose much, just wasted time and telegraphic charges.

So this year Brexit was the excellent and PLANNED timing for them to hit a homerun.

Despite having a 50% stop out level meaning if you invest 10k, your max lost was 5k, it went even deeper into margin call.

The risk management was horrendous because most of the time, their trades were in seconds, and almost not much possiblities of hitting such a massive drawdown.

Its pretty much a planned incident.

and FYI, afaik, Most brokers which are registered in NZ are not regulated by local authority, and auditors and corp sec services have told me it's almost impossible to get a bank account in NZ if you are forex broker.

So this is very much a due diligence process that's lacking for the victims on this case.

On the very next day when perfectofx failed, 3tgfx just washed hand and go into liquidation.

Regards


FTDFX (eruditeX)
Dec 29 2016 at 11:57
52 posts
the perfectofx trios were will be back again.

they were from swissquotes, then 3tgfx.

they will be back again :) with another broker, trust me.

Mitchel (mitchel14)
Dec 29 2016 at 20:46
58 posts
santitacoronte posted:
IS really bad I lost not only the money of the brexit scam but also all my capital and profits that were with the broker.
I hope they will go to jail!



Really? That is truly unacceptable ... have you heard anything more about these scammers?

hodias
Dec 29 2016 at 21:57
37 posts
But I imagine that with so much information on the internet people should note which brokers are safe, or rather trustworthy, and which are not...

jannel
Jan 02 2017 at 08:45
28 posts
togr posted:
mlawson71 posted:
togr posted:
mlawson71 posted:
The same company has a branch or an affiliate in Hungary called 5Gulden Corporation. The Hungarian National MNB recently issued a warning about them for not being registered and authorized to trade in the country. (https://smnweekly.com/2016/07/26/hungarys-mnb-warns-forex-broker-5gulden-corporation/). Hungary’s central bank conducted a market surveillance procedure and established that the two companies managed $6.3 million worth of client funds on a multiple-account-manager (MAM) account and warns investors not to do business with unauthorized firms.


I recall I was watching account named 5gulden with impressive results before 3TG FX crash
https://www.myfxbook.com/members/macskassy/5gulden-managed-account/1126270


That's interesting. They stopped trading back in June though. 3TGFX is also mentioned in their account description.


The same scheme I suppose



Wuao! These people are deceitful predators.

FTDFX (eruditeX)
Jan 02 2017 at 09:12
52 posts
Just avoid NZ for now.

There's no such thing as regulated forex broker there.

UNless you are a local, and able to vouch and show information of such stuff there.

If the local banking don't even support banking accounts for the forex brokers, just stay out.

alot of these bucket shops are funded by rich china and cis billionaires/millionaires.

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