Forex Mutual Group

[daley]

Does anyone know anything about them, sent support an e-mail and they reply with in 30 minutes. Had same very good answers to all my questions. (addy removed - This site as it claims on its own behalf, still opens itself for membership somehow and is thus a Program of a kind).
daley

Edit: Trusted Email address/Website Referral reference are allowed when you use the Email & Website links provided for the purpose within your Profile page (User CP), your displayed addy / Url / Ref.link was removed. MOD – YB

[Tradewinds]

Smells like seafood.

They claim to pay your entire principal back after 1 month, 50% every month thereafter (if I understood correctly). They use a 200-1 margin so they say they only have to make a .5% return per month to achieve that (which mathematically makes sense). Using these high margins is obviously very risky.

In addition, this website was created 2 days ago. Are they willing to give us the 'private member website' URL for verification? Their terms seems to be legit though it could be a copy&paste job.

My opinion - At first glance, this looks like an HYIP cleverly hiding behind a good name and a non-typical website. I could be wrong. The only thing that really gets me is the ridiculous returns. They have to be running a very risky strategy to come out with those kind of returns, forex just doesn't work this way. I'm going to email them, i'll keep you updated.

[whois.enom.com]

Registration Service Provided By: Registerfly.com
Contact: [email protected]
Visit: http://www.registerfly.com

Domain name: forexmutualgroup.com

Registrant Contact:
Forward Productions
Diana Ward ([email protected])
+1.7076721001
Fax: +1.7755219025
232 Q Street
Unit D
Eureka, CA 95501
US

Administrative Contact:
Forward Productions
Diana Ward ([email protected])
+1.7076721001
Fax: +1.7755219025
232 Q Street
Unit D
Eureka, CA 95501
US

Technical Contact:
Forward Productions
Diana Diana ([email protected])
+1.7076721001
Fax: +1.7755219025
232 Q Street
Unit D
Eureka, CA 95501
US

Billing Contact:
Forward Productions
Diana Ward ([email protected])
+1.7076721001
Fax: +1.7755219025
232 Q Street
Unit D
Eureka, CA 95501
US

Status: Locked

Name Servers:
ns1.aqualityhost.us
ns2.aqualityhost.us

Creation date: 13 Sep 2005 22:50:08
Expiration date: 13 Sep 2006 22:50:08

-Trade

[daley]

I have been doing some DD on them and got some more questions answered by support, very nice lady named Linda. I think I'm going to invest a little with them.

[Tradewinds]

I've been looking further into it myself. On second thought, this could be legit. The scary part is that another forex trading company I am involved with has a secretary named Linda and the CEO is named Greg (FMG's CEO is gary)! I feel like im in the twilight zone :)

Gary responded to my first email very kindly with this letter with clarifies some things (I got permission to post).

--------------------------------------------------------
Hello Mr. ******,

First let me introduce myself to you, My name is Gary Johnson CEO and Head Trader for Forex Mutual Group, I would like to Thank you for your interest in our group. I will try to answer your question with out give out all of our secrets.



1. There is no contact information listed on the site (besides email)?

This is correct the only way you can contact us before GP3's launch is by e-mail, we have hundreds of member with large investments with us that have earn the right to be able to call us at anytime and have to call answered. If we gave out our contact info such as phone numbers, then our phone lines would became over loaded. Forex Mutual Group is not a large company like T. Rowe Price and some of the others; this is one reason we can offer the higher returns (low overhead cost).



2. The returns are higher than any other I have come across in the area of forex trading?

Our returns are very fair and within a very safe margin. Let me give you an example of how we can do this:



Over a 30-day period we pay out 1.67% each day to member, however member only get paid every 30 days. The 1.66% stays in the trading accounts each day for 30 days.

1.67% X 30days = 50% return or $100 X 1.67%= $1.67/account or $10000 X 1.67%= $167 for the group as a whole. That money is then compounded and the account grows very fast over the 30 days cycle.

Remember compounding only takes place in the trading accounts and not in member accounts. Members receive the same return each month but the trading accounts that feed the return grows in size.



3. I understand that you trade on a 200:1 ratio?

Yes, we do trade on at 200:1 ratio and yes it does increase the risk. However we use very tight controls over the accounts. Sorry I can’t go into our trading strategies.



4. What about that is not an HYIP?

I can understand you asking this question and I can see how you would think of Forex Mutual Group as a HYIP. There are several things that set us apart.



All HYIP pay for and need referrals, we on the other hard don’t pay referrals in any way, the only way to become a member of Forex Mutual Group is to get in when we open a new group plans.

All HYIP start paying out member on the next day or hours after, now think about it, how in the world can they trade your money and make a profit if you don’t move your investment to a trading account. This is the reason we don’t offer a return for 30-days, investments are transfer out if E-Gold to our trading accounts which takes 2-3 days and then near the end of the 30-day cycle profits are transferred back to E-Gold to pay member.



5. Can you give me the URL of the 'private members website?

Sorry I can’t give out the members URL.



6. Is this the correct address that you are running out of?

NO, this is not other address, this is the address for the company that was paid to register and host our site.



7. Have you ever lost investors' capital?

Yes, we have lost capital from the trading accounts; all traders and investments have some losses. Have we ever not paid a return to a member, no we have not.



8. Why do you set a percentage to pay each month instead of just paying out what you earn less commission?

The reason for this to make the group stable, we have two groups at this time, each group has to make it on it own. We will not take money from one group to make another group stable, so the only way to make each group stable and independent from the other groups is to increase the money in those account a fast as possible. We can’t do this if we pay all of the profits out to member. Remember our member are only at risk of losing money the first 30-days after investing, at that time all capital is returned.



9. Is it possible for one to fly up to California to visit the offices?

Yes you can fly up to California, but you wont find our office their, Main office is located in Albuquerque, New Mexico.



10. Does trading take place around the country?

Yes, we have traders all over the US.





I hope this helps answer some of your questions …



Thanks for your Interest



Gary
-----------------------------------------------------------------
-Trade

[Tradewinds]

The only thing i'm just not satisfied with is why they would pay out a set percentage. This just doesn't make sense to me and really his response to that question did not justify it at all. However I am definitely looking at this which says alot in itself. I'd have to say the strongest point is the fact that they do not pay out referal fees.

Daley, please let me know what you find out after spending with them (as it seems thats when you get most of the info) as I am considering doing so as well. The minimum is a measly 100 dollars so why not?

Thanks for bringing this to my attention daley. I wish more people on this forum had an eye for this type of thing instead of the standard come and go in and out HYIP. Keep us updated.

-Trade

[YogiBrood]

Sound and rational analysis here and should NOT be given the "Gone with The Wind" rebuke here....BUMP!!!

[cloud]

"I've been looking further into it myself. On second thought, this could be legit. The scary part is that another forex trading company I am involved with has a secretary named Linda and the CEO is named Greg (FMG's CEO is gary)! I feel like im in the twilight zone :)"

Yes Tradewinds I'm with the company you mention also and for 2 months they've been changing platforms, traders, policy, etc.....

My concern is you would think they would have worked out all the kinks before going live. I'm not sure I'm gonna stay with them, but if you or anyone else has any good recommendations on forex both managed or otherwise, please keep me posted!!! Thanks.

[daley]

I'm in, got a nice news letter and a letter from support explaining everything, looks and sounds very legit.

[Tradewinds]

Sounds good daley, i'm going to make a spend as well. According to Gary they are putting up a forum soon so that should be good. Daley if I can ask you one question, is there anything on the inside that can confirm the existence of the first two groups? Thanks.

cloud, i'm sending you a pm.

-Trade

[daley]

Tradewinds, Not sure what you mean by the inside? But the news letter does talk about two groups.

daley