I got scammed!

ScalpTrooper since: 19 Apr 2020;

  26 Feb 2021, 01:10
I got scammed!

I was copying a strategy which was averaging 140% per week then all of a sudden it makes many(>30) trades at once and lose 98% in seconds. I wonder how the scammer profits with this... Also, beware that there are many scammers like these.

**** UPDATE ****

The strategy was Eu-Scaping(3%/day) and the scam was based on volume fees. In this particular case the scammer traded XAUUSD, it was not scalping, contrary to the name, but a high leverage mean reversion strategy with around 5-10 trades per day. He waited for 1 month and 14 days, blew the accounts (~1000) of whoever was copying the strategy and cashed in more than $222.000 in volume fees.

renatinhobsb since: 23 Feb 2021;

  23 Feb 2021, 03:04
RE:

jrriemann said:

I was copying a strategy which was averaging 140% per week then all of a sudden it makes many(>30) trades at once and lose 98% in seconds. I wonder how the scammer profits with this... Also, beware that there are many scammers like these.

Was it Eu-Scalping (3% Dia)?

I believe it is something related to the volume rate that he manages to apply the fraud.

a lost $ 1300
 

ScalpTrooper since: 19 Apr 2020;

  23 Feb 2021, 03:11
RE: RE:

renatinhobsb said:

jrriemann said:

I was copying a strategy which was averaging 140% per week then all of a sudden it makes many(>30) trades at once and lose 98% in seconds. I wonder how the scammer profits with this... Also, beware that there are many scammers like these.

Was it Eu-Scalping (3% Dia)?

I believe it is something related to the volume rate that he manages to apply the fraud.

a lost $ 1300

yes! I've lost 1500 pounds, half of my account :( can't imagine how to explain this to my wife.

I understand now, they cash in volume fees. 

saulotav since: 23 Feb 2021;

  23 Feb 2021, 03:51
RE:

jrriemann said:

I was copying a strategy which was averaging 140% per week then all of a sudden it makes many(>30) trades at once and lose 98% in seconds. I wonder how the scammer profits with this... Also, beware that there are many scammers like these.

Eu tambem cai no golpe, Perdi 2300,00

Como e possivel existir lucro encima de loss.

email.roshanw since: 23 Feb 2021;

  23 Feb 2021, 04:21
RE: RE: RE:

I had the same thing.
He has done it purposely.
I think responsible people should do something about these type of scams.

It can easily identified looking at the trades he did.
VERY BAD !!!

WinFX since: 04 Jan 2020;

  23 Feb 2021, 08:20
RE:

jrriemann said:

I was copying a strategy which was averaging 140% per week then all of a sudden it makes many(>30) trades at once and lose 98% in seconds. I wonder how the scammer profits with this... Also, beware that there are many scammers like these.

Yes the same strategy provider. Blew my account completely today. This is terrible. 

WinFX since: 04 Jan 2020;

  23 Feb 2021, 08:40
RE: RE:

renatinhobsb said:

jrriemann said:

I was copying a strategy which was averaging 140% per week then all of a sudden it makes many(>30) trades at once and lose 98% in seconds. I wonder how the scammer profits with this... Also, beware that there are many scammers like these.

Was it Eu-Scalping (3% Dia)?

I believe it is something related to the volume rate that he manages to apply the fraud.

a lost $ 1300

There is a major loophole in the ctrader copy platform that the scammer strategy provider has exploited and drained our money in minutes. The ctrader/spotware should do something about this. stop the release of payment to this provider and atleast get our principal money deposited with the strategy back.

abondi since: 28 Dec 2019;

  23 Feb 2021, 08:53

Same here, I lost 777,91 Euro on it. Sort of luck it happened last night as I was thinking about investing a lot extra today.

I wonder why they give the option for strategy providers to charge per volume as well, it does not make any difference for the provider if they open positions of 1K or 100K.

In my opinion it only opens an easy way for fraud without an easy way to protect yourself as copier from it, for certain strategies you cant set an equity stoploss as their strategy needs a lot of "breathing" room.

milanlehovic since: 23 Feb 2021;

  23 Feb 2021, 09:46

What kind of bastard can make scam like this? Lost almost 80k. I can’t understand this. When he was making good traders with profit, he was profiting aswell. This was very expensive night. 

ScalpingSniper since: 23 Feb 2021;

  23 Feb 2021, 10:31
RE:

milanlehovic said:

What kind of bastard can make scam like this? Lost almost 80k. I can’t understand this. When he was making good traders with profit, he was profiting aswell. This was very expensive night. 

Well you guys better dont invest in strategies with volume fees and that not passed 3 month of existance. These accounts will likely be blown, just wait for enough data over month and invest in those who are serious.

i mean why people still falling for those scammers.... its the greed of high roi. Be happy with 20-30% and a consistent trader, thats more than you will ever get regulary