Easy Capital

[dowzkeh]

Hi fellow edmw-ers, i recently got to know a friend who was introduced to this FX platform (Easy Capital[/url]).... and i want to ask if any of you have any reviews or comments. My friend is not very sure how it works, but is willing to try, i'm not doing a good job convincing my friend to wait and learn so hope people can give me more convincing reasons or tell me that i'm wrong.

(1) 0 brokerage ( assume spreads would be lousier since brokers need to make some money)

(2) Amount deposited is locked for 18 months and gives 4% interest PER MONTH (wow? that's 48% SIMPLE interest) I wonder why is this not raising a red flag to my friend, but never mind....

(3) capital protected by ASIC

I raised that the broker is probably using their money to invest and trade on their own, and if that is the case, unlikely to be protected.... but somehow, i fail in convincing my friend.

Any one have come across EasyCapital and can give some reviews etc? And FX trading brings a lot of risk i do know that

 

[guowei]

Hi fellow edmw-ers, i recently got to know a friend who was introduced to this FX platform (Easy Capital).... and i want to ask if any of you have any reviews or comments. My friend is not very sure how it works, but is willing to try, i'm not doing a good job convincing my friend to wait and learn so hope people can give me more convincing reasons or tell me that i'm wrong.

(1) 0 brokerage ( assume spreads would be lousier since brokers need to make some money)

(2) Amount deposited is locked for 18 months and gives 4% interest PER MONTH (wow? that's 48% SIMPLE interest) I wonder why is this not raising a red flag to my friend, but never mind....

(3) capital protected by ASIC

I raised that the broker is probably using their money to invest and trade on their own, and if that is the case, unlikely to be protected.... but somehow, i fail in convincing my friend.

Any one have come across EasyCapital and can give some reviews etc? And FX trading brings a lot of risk i do know that

not even under MAS... even oanda is a much better choice. tell him dont waste money liao, use local company safer and easier to handle if cant withdraw money.

 

[Shiny Things]

Never heard of them before. Their website is gibberish. They're offering 48% per annum interest. And they're all "To meet the requirement s of foreign exchange customers for convenient and safe foreign exchange capitals during trading, Easy Capital provides multiple solutions" as if they're saying "come and tax dodge with us".

Normally I say that if an FX company is regulated by ASIC they're fine, but these guys sound like shysters. Run a mile.

 

[bullsback]

best is to be regulated by preferably USA CFTC, take a look at this list.

http://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata0614.pdf

Even if regulated by MAS, it may not mean alot. The case of the 2008 subprime products which sold by singapore banks, how many investors gotten back all their money?

Maybe someone can post some information from MAS website citing the adjusted net capital of the brokers housers licensed by them if available, similar to that by CFTC? i not familiar.

CFTC is a tougher authority.

But big ones like refco or the MFglobal had fallen before, so what abt smaller ones.?

in that list, the biggest and confirm buay toh is goldman sacs, adjusted net capital @ 14 billion, Interactive brokers @ 2.2 billion, 20% that of the Goldman, Oanda @ 116 mio 5% that of interactive brokers.

Hi fellow edmw-ers, i recently got to know a friend who was introduced to this FX platform (Easy Capital[/url]).... and i want to ask if any of you have any reviews or comments. My friend is not very sure how it works, but is willing to try, i'm not doing a good job convincing my friend to wait and learn so hope people can give me more convincing reasons or tell me that i'm wrong.

(1) 0 brokerage ( assume spreads would be lousier since brokers need to make some money)

(2) Amount deposited is locked for 18 months and gives 4% interest PER MONTH (wow? that's 48% SIMPLE interest) I wonder why is this not raising a red flag to my friend, but never mind....

(3) capital protected by ASIC

I raised that the broker is probably using their money to invest and trade on their own, and if that is the case, unlikely to be protected.... but somehow, i fail in convincing my friend.

Any one have come across EasyCapital and can give some reviews etc? And FX trading brings a lot of risk i do know that

 

[guowei]

best is to be regulated by preferably USA CFTC, take a look at this list.

http://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata0614.pdf

Even if regulated by MAS, it may not mean alot. The case of the 2008 subprime products which sold by singapore banks, how many investors gotten back all their money?

Maybe someone can post some information from MAS website citing the adjusted net capital of the brokers housers licensed by them if available, similar to that by CFTC? i not familiar.

CFTC is a tougher authority.

But big ones like refco or the MFglobal had fallen before, so what abt smaller ones.?

in that list, the biggest and confirm buay toh is goldman sacs, adjusted net capital @ 14 billion, Interactive brokers @ 2.2 billion, 20% that of the Goldman, Oanda @ 116 mio 5% that of interactive brokers.

ya loh, after that got some changes liao. MAS state that company like this gotta have reserve and be able to pay back the consumer if anything happen.

"Deposit insurance, which is an explicit guarantee on deposits, provides a payout of up to S$20,000 to each individual depositor per bank. "

Response to Safety of Bank Deposits Should be Guaranteed
Response to Safety of Bank Deposits Should be Guaranteed