I've been approached by a company called Strategy Markets who are offering a fully automated trading portfolio they call "SWP Portfolio".
It's their own software and that runs trades based on their own rules. You have no control over what or how much is invested in each trade.
They are claiming average monthly returns of 3% using their fully automated portfolio, and they want an initial £20,000 deposit with inability to withdraw for the first year.
As a complete newbie to forex/binary options, I thought it wise to ask what are your thoughts are?
Are these returns realistic? Does anyone have any experience with Strategy Markets or their SWP Portfolio?
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Comments
You see, you can already know it's a scam based on your first sentence:
"A company approached me"
This is how easy money scams usually start, a company approaches you somehow, through email or cold calls.
Next warning sign is:
"they CLAIM to have 70% success rate"
third warning sign is:
"they have some magic software" yeah right... all the scammers online have a magic 70-99% winning software.
Final verdict, big scam and thanks for sharing here. Also mention which company it is, it might save lots of people
lots of money
//Thanks for the company name, edited the link - Mod.
what happened to them so they really get the picture!
They may wipe out whole investment during 60 days notice by trading on which we do not have any control
The so called trade is not executed via automatic trade it is manual trade executed by the trader on Binary option.
So the conclusion is Strategy Market is big scam and 100% lost of investment if you pay once. You do not have any legal recourse against them. It is unfortunate Uk regulatary have no control against them
I have suffered with Strategy Market heavily. My advice to stay away or contact me if want more info. Please convey on the Social media to save other investor from suffereing
Website: strategymarkets.co.uk
Scam: similar to what other users have reported: you invest in a managed account (the one working with the algorithm). Things go well at the beginning and that invites you to invest more. As soon as you ask to withdraw some of the gains, a series of negative transactions bring the total amount down and you essentially lose money. On top of that, the company also deposits random "bonuses" in your account: apparently, they cannot invest their own money and use your accounts to do that. As far as the account is profitable that seems to be a win-win situation: you keep the additional profit and they make 10% on money which they could not otherwise invest. When the account loses money, however, you have to return the bonus (e.g. £5k). It seems a very easy way for the company to make money out of thin air: a bonus is nothing but a transaction in your account, whether the money was really transferred and traded you do not know. No T&Cs can be found or are shared regarding how they handle bonuses.
The address in the website's footer (51 Marshall Street, Island Suite, Soho London W1F 9SF) does not exist, I live not far and verified personally. The address on the contact page is a virtual office: incidentally, I have also opened a small company there. Now they claim they are based in Geneva, and the reason for moving there is that the UK government ha changed regulations and will tax the profits from high-frequency trading. I don't know if that's true, but after calling the number on their website (0800 031 5292) I was redirected to a Swiss number (08715101360).
The main website (strategymarkets.co.uk) and all the websites on their press page (https://strategymarkets.co.uk/press-release/) are registered with godaddy, not unusual if you consider that godaddy is the largest registrar in the world. However, they all use a private domain mask (Proxy LLC) and that looks a bit odd.
As I said, I'd be willing to get in touch with other people that find the all situation quite dodgy and evaluate together the options we have.
Thank you