In focus: Club Fx, A Program By PeterB

by Tony Clifton   [Your Program Focused]

Look what I found for your this time :-) A program which I would normally write off seing it's website. But I did not, because there is something which makes it look better. It is run by someone who many of us know for long time - PeterB from goldentalk.com forum. I know we have seen several scams run by "trusted forum members", but to be honest, none of them really had the reputation of PeterB. So Club Fx Trader deserves a deeper look for sure (of course this does not mean we should rush to throw our money inside).

The Details
The minimum investment is only $20. The ROI is 1% per business day, can be withdrawn once per month. The program is supposigly based on forex trading and the admin is the trader as well. There is temporary referal bonus of $5 for each refered member.

As I said above, I would normally spot Club Fx as scam if I had to decide only on the website. The design is ugly and cheap. It uses the goldcoder's script. Pays daily. Accepts $20 deposits. Quite repulsive, isn't it? Ok, but here comes the name of PeterB and more than that.

Another even more respected member of GoldenTalk.com - the moderator PeterG has done Due Diligence on PeterB's personal details. He confirms that he is really the person he present himselfs to be.

And more. PeterG said that the Club Fx admin has run a program before. It didn't work fine and PeterB refunded all members and even paid their profits made so far. Asked about that program PeterB was forthcoming and straight and gave the details ("sagoldexchange", based on e-gold exchange). Ok, all this is well enough for me to do some basic investigations.

The investigation
First, it is easy to find out details about that past program. PeterG's word worths a lot, but we still need to verify such program existed and really refunded its members. A fast search easy brings us to this thread in TalkGold about it. There you can find it was paying 0.5% - 1.75% daily for 30 days. It started in December 2005. Unfortunately this thread ends with the program launch and looks like noone has invested? Same goes with the thread in MoneyMakerGroup. Whereever you look, you won't find any info about what has happened. Most probably the program was closed pretty soon after oppening so the weight of the refund might be quite minor.

The who-is information for Club Fx shows that the website is hosted in USA (possible problem!) on a shared hosting with another ~900 domains (in this case checking for scams on this IP is useless as obviously there are just so many sites there). Nothing can be said based on this except that PeterB may have problems with the hsoting company for hosting a HYIP (it is illegal in USA).

The screenshot he provided as a proof of trading looks good, but of course is far from proof. (You know screenshots can be faked easy). There is another problem with it - althought the percentage of winning trades is impressive, the ROI is 52.96% for 169 days. This is very good ROI but it is still too far from 20% and more monthly. Would be interesting to understand on what PeterB has based his expectations for the ROI. Just received responce: He has added funds during these 169 days so the ROI calculation of course goes down (makes sense). In the screenshot you can really see the amazing returns for July and August (44% and 93%).

Conclusion
Although there is no real trading proof, I must say PeterB is much more reliable person than other forum members who ran programs. Adding the moderator PeterG's word doubles his credibility. Also, the checks for sagoldexchange has shown for sure than noone is complaining for being scammed of it. Still, I would eventually wait for either more DD (althought the admin said he won't allow anyone log into the live trading and reveal his strategy) or for longer trading records before puting large funds. The program has fair chance of being real, but I am not sure it can achieve such good ROI.

On the other hand, the minimum is just $20, so why not to give it a try. For sure it is more promissing than 99% of the programs out there.

Published at Aug, 28 '06 ; read 1451 times;

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