- Sep 27, 2019
- Reaction score
Hi, yes it always helps to hear from those who have skin in the game other than the OP so thanks for your contribution.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.
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.