Passive Income Earner Best investment ever. Prophet trading. Automated money

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Riddler

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Hi all, it may help to hear from me.

I did decide to give this a go, after some discussion with CAS and asking lots of questions, but was sceptical so made efforts to protect myself as much as possible using a credit card and paypal to deposit the minimum £1000.

This is all I had so quite possibly a stupid move as I can’t really afford to lose it but there we are.

The account details I sent over to the team is purely for the trade copier, which is responsible for the market trades but doesn’t have access to my funds which are deposited through Paypal into ICMarkets. Which is the place to deposit and withdraw your funds and has a completely different username and password.

There was a rouge trade, I don’t understand what happened or why some people gained huge amounts of money, others lost significantly. But it the first trade on my account and wiped £510.37 from my balance in a matter of seconds. I did think I had been scammed initially, as you would.

However, I have been reimbursed the full £510.37 by the Prophet team which is now tucked in a ‘spare’ bank account. I’ve re-invested to the minimum £1000 and am waiting to pass ‘judgement’ I suppose at the end of October when I’ve had a chance to see how it goes properly.

My advice would always be if you have got any doubts dont do it. I am perhaps a fool and that’s a risk I have taken if I lose everything then I have no-one but myself to blame.

Today the system restarted for October and my MT4 is showing two trades bouncing around £2.50 up today.
Hi, yes it always helps to hear from those who have skin in the game other than the OP so thanks for your contribution.

Just so other people don't misunderstand, whether you load the account using PayPal or a credit card makes no difference, there's no contract between the parties and the FSCS do not offer protection on these sorts of ventures. Once the credit card company establishes that the bank account holder took postive action to fund the Prophet account they won't be doing anything if you lose money.

Also, you can simply withdraw your money and close your account right now can't you if you're having second thoughts? Or can't you??

And thanks for clearing up the account login details bit, the OP did so already but what he and you are telling us conflicts with what appears to be stated in the Prophet brochure, best just put that down to yet another "mistake" in the literature.

Keep us posted if you're going to be continuing with this.
 

Riddler

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I didn’t;t want to give details to my main bank account for a reimbursement so got it sent to an account I don’t use dont have the facilities for there to be any fraudulent purchases or running up of credit etc...
LOL oh dear (I don't blame you mind but yeah, not so good for ones confidence). Although, the fact that they had to ask you where to send the money is about as good as confirmation needed that they do not indeed have access to the account which you originally loaded up from which is good to know.
 

LivingBudgetLDN

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Hi, yes it always helps to hear from those who have skin in the game other than the OP so thanks for your contribution.

Just so other people don't misunderstand, whether you load the account using PayPal or a credit card makes no difference, there's no contract between the parties and the FSCS do not offer protection on these sorts of ventures. Once the credit card company establishes that the bank account holder took postive action to fund the Prophet account they won't be doing anything if you lose money.

Also, you can simply withdraw your money and close your account right now can't you if you're having second thoughts? Or can't you??

And thanks for clearing up the account login details bit, the OP did so already but what he and you are telling us conflicts with what appears to be stated in the Prophet brochure, best just put that down to yet another "mistake" in the literature.

Keep us posted if you're going to be continuing with this.
I know I have no financial protection, more so I wanted to put layers between myself and the deposits in case I had fallen for a scam. By going through a CC I could block and pay off and depositing via Paypal where I wasn’t having to process bank details, I felt I was at least giving myself some peace of mind if I was an idiot and lost the £1000 to a scam that I wasn’t instantly going to have my identity cloned as well.

Again for the reimbursement theres no credit on the account apart from the reimbursement and about £20, its easy to block and flags up transactions instantly.

From what I am aware I can withdraw from IC markets at any time but it is more complicated if I have trades open (which I currently do) as I would have to manually close them first. It seems easy enough to disconnect your profile from the master account as plenty of people did it after the rouge trade in case there was further issues.
I fully intend to leave the account open until the end of October initially and see what happens. I’m happy to update as I go along but I am not going to recommend to anyone. It’s an incredibly risky investment and if you have the slightest doubts dont do it, I realise that is hypocritical but if I lose out that’s my own fault. I’d be gutted if it all went belly up and someone else lost their money.
 
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Riddler

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It’s an incredibly risky investment and if you have the slightest doubts dont do it, I realise that is hypocritical but if I lose out that’s my own fault. I’d be gutted if it all went belly up and someone else lost their money.
Not heard this kind of acknowledgement from anyone else who is involved with this so far and we've 13 pages of chat history so kudos to you.

Fair enough re: the CC/PayPal, though be aware that if the intention of the scam was to clean you out in one hit, the money taken would be long gone before your CC provider could do a chargeback (just for future ref).
 

Riddler

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Not heard this kind of acknowledgement from anyone else who is involved with this so far and we've 13 pages of chat history so kudos to you.

Fair enough re: the CC/PayPal, though be aware that if the intention of the scam was to clean you out in one hit, the money taken would be long gone before your CC provider could do a chargeback (just for future ref).
Sorry, I should clarify ^^ I am not saying this Prophet thing is a scam (not saying it isn't either), I meant in general terms if someone was trying to scam you.
 

Trisarsk

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hi,

I am interested to know more to invest on this .
 

Riddler

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hi,

I am interested to know more to invest on this .
There's 13 pages of chat history all to do with this topic, have you read it? That would be the best way to know more. It's not really investing, you don't do any fundamentals with this, you give your money over and someone else/a robot makes trades on your behalf and takes a 30% commission in return.
 

Afcafc

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There's 13 pages of chat history all to do with this topic, have you read it? That would be the best way to know more. It's not really investing, you don't do any fundamentals with this, you give your money over and someone else/a robot makes trades on your behalf and takes a 30% commission in return.
Hello mate, I would say it is an investment even if it is a robot making the trades on the market.
 

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Afcafc

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We are currently in £35 drawdown at the moment. Will keep you guys updated!
 

Afcafc

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What does that mean? You are up £35 or down?
Hello

It just means that we are currently in a trade and if you are down you are in a loss of for example £35 like the example above BUT the trade is not closed and will stay open until we have profited from it. When you are up you are simply in a positive position and are making money. Hope that helps! :)
 

Blazerlazer

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Hello

It just means that we are currently in a trade and if you are down you are in a loss of for example £35 like the example above BUT the trade is not closed and will stay open until we have profited from it. When you are up you are simply in a positive position and are making money. Hope that helps! :)
Thank you. Let us know how you get on
 

SarahLu

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I fully intend to leave the account open until the end of October initially and see what happens. I’m happy to update as I go along but I am not going to recommend to anyone.
Thanks for providing the info about your experience, I will be interested to hear how you get on :)
 

The Reverend

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Did anyone explain what happened with the rogue trade?

Isn't everything supposed to be safe? How come not everyone was affected by the rogue trade?

Either;

a) the trading account being followed by everyone was accessed by someone who shouldn't have had access
b) the trading 'system' being used by the trading account did something wrong.

Remember, this is a scheme run by 'business minded people' and 'people with an entrepreneur mindset'. Who, apparently, have a system which doesn't make losses ever, makes everyone £££££ AND is legit, but for some reason that isn't entirely clear, is open to 'rogue trades' and hasn't been sold to an investment house for billions.

Thanks,

The Reverend
 
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Blazerlazer

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Did anyone explain what happened with the rogue trade?

Isn't everything supposed to be safe? How come not everyone was affected by the rogue trade?

Either;

a) the trading account being followed by everyone was accessed by someone who shouldn't have had access
b) the trading 'system' being used by the trading account did something wrong.

Remember, this is a scheme run by 'business minded people' and 'people with an entrepreneur mindset'. Who, apparently, have a system which doesn't make losses ever, makes everyone £££££ AND is legit, but for some reason that isn't entirely clear, is open to 'rogue trades' and hasn't been sold to an investment house for billions.

Thanks,

The Reverend
Obviously that wasn’t good but from reading the comments on here the people affected were reimbursed, surely if it was a scam or people out to make a lot of money they wouldn’t have done that? Hopefully whatever happened was a 1 off and it won’t happen again.

I’m sat on the fence at the moment and reading with interest peoples experience before I take the plunge or not.
 
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The Reverend

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Obviously that wasn’t good but from reading the comments on here the people affected were reimbursed, surely if it was a scam or people out to make a lot of money they wouldn’t have done that? Hopefully whatever happened was a 1 off and it won’t happen again.

I’m sat on the fence at the moment and reading with interest peoples experience before I take the plunge or not.
I rob people's houses.

When I'm caught, I give them their stuff back.

I'm glad that is ok.

In unrelated news, can you let me know where you live and what days you aren't at home.

The fact it happened at all should be a concern to all involved. And if I was involved I'd want full transparancy into what happened, not just a 'we will personally refund you your losses'.

:)

The Reverend
 
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Afcafc

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I rob people's houses.

When I'm caught, I give them their stuff back.

I'm glad that is ok.

In unrelated news, can you let me know where you live and what days you aren't at home.

The fact it happened at all should be a concern to all involved. And if I was involved I'd want full transparancy into what happened, not just a 'we will personally refund you your losses'.

:)

The Reverend
They said it was a 3rd party issue and are still looking into it and have put measures in to prevent it happening. In the meantime they have begun reimbursing. Trades are back open some profit made and currently in drawdown.

Will keep everyome updated!
 

wlamo

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They said it was a 3rd party issue and are still looking into it and have put measures in to prevent it happening. In the meantime they have begun reimbursing. Trades are back open some profit made and currently in drawdown.

Will keep everyome updated!
Been reading this thread and you mentioned way back in May about your deposits and withdrawals. How are you getting on since May?

I have been invited through a friend to join the party and will be depositing some funds this week. Judging by Edwards profile on myFXbook, he seems to be making gains all the time since February so I don't see this as being a Scam - maybe in the eyes of City Traders at JPMorgan, yes.

Plus my buddy has had some good returns on the small amount he originally deposited.
 
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The Reverend

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They said it was a 3rd party issue and are still looking into it and have put measures in to prevent it happening. In the meantime they have begun reimbursing. Trades are back open some profit made and currently in drawdown.

Will keep everyome updated!
So a ‘rogue trade’ can be instigated by a ‘3rd party’?

that doesn’t sound like a safe place I want put any money.
 
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