A friend of mine invested about 2 years ago...but he is a big risk taker. I held back for many of the reasons mentioned in this forum. What happens if the fund closes down? How does one get their money back? My colleague gets regular account statements since the account was first opened. Additionally, someone is there to respond to any questions. They said that they have been audited. My colleague spoke to a few of their references and everything appeared to check out. Let's just say that my friend invested very little of his net worth and feel apprehensive about dumping much more into the fund. Does anyone have any thoughts on how to conduct more due diligence before investing in the fund? What I find strange is that people on forums talk about SP TRADER, but nowhere is their a rep from sp trader posting into the forums. Is this because of certain international laws and regulations?
smallinvestorca Registered: Feb 2007 Posts: 1 New Post 02-12-07 03:41 PM A friend of mine invested about 2 years ago...but he is a big risk taker. I held back for many of the reasons mentioned in this forum. What happens if the fund closes down? How does one get their money back? My colleague gets regular account statements since the account was first opened. Additionally, someone is there to respond to any questions. They said that they have been audited. My colleague spoke to a few of their references and everything appeared to check out. Let's just say that my friend invested very little of his net worth and feel apprehensive about dumping much more into the fund. Does anyone have any thoughts on how to conduct more due diligence before investing in the fund? What I find strange is that people on forums talk about SP TRADER, but nowhere is their a rep from sp trader posting into the forums. Is this because of certain international laws and regulations? One post from this bloke above I wouldnt trust it at all stay away is my opinion these people are frauds
Bogan7. I do not know if sp trader is a scam or not, thus my original post. Can anyone recommend any additional ways to conduct due dilligence on this company? Thank you.
Mate there seems a pattern of some bloke with very few posts coming on asking innocent questions that at first glance are not a hard sell but that is the beauty of it as it gets people to look at the site. I think it is just as dodgy as the outright shills people like you are just tryin to be a little more subtle beware of this guy!!!!
Bogan7, Good insight ! Smallinvestorca just registered today. Where is this "fund" registered and licensed ? a virtual office, wouldn't have expected otherwise this is clearly a scam
have a look where a guy named laduca is spamming this "fund " http://209.85.165.104/search?q=cach...ww.sptrader.com+scam&hl=nl&ct=clnk&cd=5&gl=be http://209.85.165.104/search?q=cach...ww.sptrader.com+scam&hl=nl&ct=clnk&cd=1&gl=be These are HYIP (high yield investment "programs" = scams ) = ponzi shemes I guess "smallinvestorca" = "laduca"
I can do more than simply shout "SCAM"! I'll explain why, beyond those points which have already been raised. 1) They claim to have $170 mil in assets, yet they're not listed on Hedgefund.net. Massive Red Flag! 2) Have you seen this crap?! The novice may not pick up on the many subtle clues, but no <b>real</b> trader actually thinks or writes like that. That entire page was clearly written by some wannabe clown, who <i>almost</i> knows how to sound legit, but can't quite pull it off. 3) EDIT: Whoa! Check this out: http://www.sptrader.com/accountingsummary/index.html <b>As-Fucking-If</b> a bona fide fund, managing $170 mil, is gonna publicly call out every single trade, revealing their mega-million dollar proprietary methodology for all to see! SCAMSCAMSCAMSCAMSCAMSCAMSCAMSCAMSCAM!
Hello, NFA? CFTC? Anyone home? Excuse me, but the naive investors you're supposed to be protecting are probably getting reamed hard without the courtesy of a reach-around by these guys. Would you care to put down your donuts for a second, and shut this shit down before anyone else gets fleeced? ...or not. After all, you <i>are</i> government agents, so it's not like anyone actually <i>expects</i> you to do anything of use. But hey- just in case you're in the mood to log off from your internet porn and do something beneficial for a change, you really <i>should</i> check out that site, ok? Thanx.
Its a software programmer sorta colleague in germany...he only sent the minimum as well, he sent them to that swiss wire instruction thing.
Thanks for the post Metal...I agree, thats why I started the post, I also dont believe the results....but hell I'm going to ask my colleague who went over to meet them...what the deal was, but hell Im sure even a scam thats making that much money...can easily afford a nice fake office. Oh yes....the NFA, CFTC, FSA, BAFIN....all those regulators...I sometimes also wonder what they actually do? I met some of the NFA auditors once...and asked them about the Bayou hedge fund blow up....they just looked guilty and stupid...and didnt have an answer...haha, typical government pork barrel.