Finanzas Forex - high yield forex investment on Page 3 at Nobullshit Network Forum

vicimi · 02-21-2008, 09:56 AM

...part three...

Quote:

1 National Commission of Values is part of the Council of Coordinacio'n Financiera (CCF), who is assigned to the Ministry of Economy and Finances as coordination organism and consults of the financial sector and which is integrated by Minister of Economy and Finances, Minister of Commerce and Industry, the Superintendent of Banks and the Commissioned President of the National Commission of Values, and has put under the CCF the discussion on the FOREX subject in order to regulate this activity and to guarantee the due protection to the public investor, being who this subject is not regulated by any sector, and is not competition of the CNV.

In the opinion request it has not been distinguished to what type of license talks about, however, within the analysis we left from the described activity to determine if it is framed or not within a type of license that grants the CNV.

Thus the things, we considered opportune to mention here the following definitions that the D.L. contains, of 1999 in its article 1:

"Article 1. Definitions
House of Values are all person who dedicates itself to the business of purchases and of selling values, or on behalf of third or by own account. This expression does not include the stockbrokers."
Administrator of investments is all person to whom an investment society delegates to him, individually or altogether with other people, the faculty to administer, to handle, to invest and to have the values and the goods of the investment society. The investment administrators will be able to serve administrative, such as services of accounting, secretariales, benefit of address or directors, handling of relations with shareholders, of payment, similar registry and transference and other administrative services, does not constitute the person who lends in administrator of investments"

The previous definition consists as well in article 1, numeral 2 in 2004 agreement 5.

In agreement strictly to the description of the activity that the Panamanian society will execute, that is to say, an activity outside the Republic of Panama that is not administered in or from Panama and that the services are not offered to Panamanian nationals or resident people in the Republic of Panama and, will solely catch money by means of "banking transference" in the accounts of the Panamanian society, we considered that it is not framed within the requirements that it demands to him to obtain license of Administrator of Investments or House of values.

In effect, the article 1 of the Decree Law 1 of 1999, in the definition of Administrator of Investments who reiterates article 1 in Agreement 5 of 2004, specifically indicates:

"Article 1. Scope of application.

2.... the single benefit of these administrative services, such as services of accounting, secretariales, benefit of address or directors, handling of relations with shareholders, of payment, similar registry and transference and other administrative services, does not constitute the person who Consequently lends them in administrator of investments",

and we reiterated, based strictly on the tenor of the request of Opinion, this Commission agrees with the criterion of the applicant Cambra the Duke & Co, in the sense that some does not require license to grant by the National Commission of Values.

Legal Foundation: Decree Law 1 of 8 of 1999 July, Agreement 2-2004 of 30 of April of 2004, Agreement 5-2004 of 23 of 2004 July, Agreement no. 1-2006 of 6 of February of 2006. Given in the city of Panama, Republic of Panama, to the ten (10) days of the month of July of year two thousands seven (2007).

I already posted the links where you can check that Evolution Market Group Inc. is registered in Panama and that registration is still valid, but here it is again, step by step.
This is the link http://www.registro-publico.gob.pa/ - go to Servicios – click Consulta de Informacion Registral – go to Mercantil – click Sociedades Anonimas – click por Ficha – in the field enter 558703 – and there it is!

There you can see that status of EMG Inc. is vigente, translated effective.
Also there you can see that their agent is Cambra Duke & Co., relates to the above given opinion by CNV.

Please give me your opinion!

Regards
vicimi

**allinvain** · 02-21-2008, 10:49 AM

Hmm, interesting info. Well, that warning doesn't necessarily make Finanzas Forex a scam, but it certainly will deter a lot of people from investing with them; - especially if they don't do some research into the issue as you've done. I was initially surprised to see the notice as well, hence my "lol..lovely" comment. However, having said that, being a legally registered company is not the ultimate proof of legitimacy.

One thing that I'm curious is if Evolution Market Group Inc. has obtained a license to accept third-party funds. A while back I've been doing some research into what is required to legally have third party funds in an IBC's bank account and I've found out that in Panama you have to get a "financial services license." This is particularly pertinent to investment clubs and other such companies that need to accept money from third parties.

To be more specific this license allows a Panama IBC to do the following in addition to the usualy activities allowed under Panamanian corporate law:

1. Open corporate banks accounts and accept 3rd party funds.
2. Manage and invest 3rd party funds through licensed brokers; receive returns and dividends and pay out to the 3rd parties.
3. Act as a payment Intermediary.
4. Provide financial consulting and advisory services
5. Conduct precious metal trading (gold, silver, platinum) over the internet.
6. Factoring.
7. Leasing (requires the company to have a capital of US$ 100,000 and pay an additional Government tax). Contact Maritime International Ltd if you wish to offer leasing services.

"The Company also may not advertise and/or sell stocks, bonds and other investment instruments to the general public directly. It can only buy and sell stocks, bonds, etc. through a licensed broker;"

#2 is particularly relevant here.

okosh · 02-21-2008, 12:28 PM

Quote:

Originally Posted by allinvain

Hmm, interesting info. Well, that warning doesn't necessarily make Finanzas Forex a scam, but it certainly will deter a lot of people from investing with them; - especially if they don't do some research into the issue as you've done. I was initially surprised to see the notice as well, hence my "lol..lovely" comment. However, having said that, being a legally registered company is not the ultimate proof of legitimacy.

One thing that I'm curious is if Evolution Market Group Inc. has obtained a license to accept third-party funds. A while back I've been doing some research into what is required to legally have third party funds in an IBC's bank account and I've found out that in Panama you have to get a "financial services license." This is particularly pertinent to investment clubs and other such companies that need to accept money from third parties.

To be more specific this license allows a Panama IBC to do the following in addition to the usualy activities allowed under Panamanian corporate law:

1. Open corporate banks accounts and accept 3rd party funds.
2. Manage and invest 3rd party funds through licensed brokers; receive returns and dividends and pay out to the 3rd parties.
3. Act as a payment Intermediary.
4. Provide financial consulting and advisory services
5. Conduct precious metal trading (gold, silver, platinum) over the internet.
6. Factoring.
7. Leasing (requires the company to have a capital of US$ 100,000 and pay an additional Government tax). Contact Maritime International Ltd if you wish to offer leasing services.

"The Company also may not advertise and/or sell stocks, bonds and other investment instruments to the general public directly. It can only buy and sell stocks, bonds, etc. through a licensed broker;"

#2 is particularly relevant here.

Have you not seen enough red flags??
You also think the numbers are real??

Maybe you want to buy a bridge??

**allinvain** · 02-21-2008, 12:54 PM

Honestly, I did not look in detail at al the info provided by vicimi, but yes, I'd like to buy a bridge - one made out of popsicle sticks

vicimi · 02-21-2008, 04:36 PM

Quote:

Originally Posted by allinvain

However, having said that, being a legally registered company is not the ultimate proof of legitimacy.

I totally agree with you!
Nevertheless, this warning was released nine months ago, so I wanted to show to the readers that Evolution Market Group Inc. is still active.

Quote:

Originally Posted by allinvain

One thing that I'm curious is if Evolution Market Group Inc. has obtained a license to accept third-party funds. A while back I've been doing some research into what is required to legally have third party funds in an IBC's bank account and I've found out that in Panama you have to get a "financial services license." This is particularly pertinent to investment clubs and other such companies that need to accept money from third parties.

Evolution Market Group Inc. doesn't need to obtain that license
-this is from my post - part three

Quote:

In agreement strictly to the description of the activity that the Panamanian society will execute, that is to say, an activity outside the Republic of Panama that is not administered in or from Panama and that the services are not offered to Panamanian nationals or resident people in the Republic of Panama and, will solely catch money by means of "banking transference" in the accounts of the Panamanian society, we considered that it is not framed within the requirements that it demands to him to obtain license of Administrator of Investments or House of values.

Because all funds goes to TradexWorld SA., from the USA accounts.

The thing is, when you invest or if your investment reaches the amount of 4000US$, your back office isn't only related with FinanzasForex site. When you reach that amount you have back office with TradexWorld SA.(in March 2008), through secured link - tradexsuisse.com. They bought that domain, and the name Tradex Suisse.

I have been explaining about business activities of TradexWorld SA., in earlier posts, here it is again

Quote:

to carry out all operations on the foreign exchange market and to carry on all financial activities, in particular council and management of fortune, services financial, studies and councils as regards placements, execution of mandates and investments; acquisition of a holding in other companies like all movable and real financial commercial deals.

This company is regulated by the laws of Switzerland and their Financial Association - ARIF. TradexWorld SA. is a member of ARIF, link ARIF members list

Regards
vicimi

vicimi · 02-21-2008, 05:11 PM

History of Finanzas Forex (translated with Babelfish)

Quote:

FinanzasForex is property of the company Evolution Market Inc. Group, created legally in the Republic of Panama. Separated 0823-04450 Panama, Republic of Panama Mercantile registry nº 558703.

TradexSuisse is property of the company Tradex World S.A., created legally in Switzerland. Registry of Commerce with nº of dossier 6812/2006. Both companies, Evolution Market Group Inc y Tradex World S.A.. they belong to the same group, presided over by Mr. Germa'n Cardona Soler.

History:
The initial idea of Germa'n Cardona at the end of 2006 was the one to create a reduced group of investors with whom to invest in the Forex Market. A market reserved to the great fortunes. Of that initial idea it happened to the idea to create a company opened to everybody, where any person could invest in the Forex Market through a bottom, with no need to have a high capital to it. Once created the company Evolution Market Inc. Group in March of 2007, with the commercial name of Finances Forex, this one it begins to develop to his activity managing the investment of capital reducing in the Forex Market and the incorporation of new investors through his plan of marketing. Thanks to this plan of marketing, also call race plan, the investors have one second possibility of business and therefore one second source of income to part of the important benefits obtained by their investments. A little later, between the months of June and July of 2007 the direction of the company decides their implantation in Switzerland by means of the acquisition of already existing a financial company in that country and whose name would happen to be Tradex World S.A. commercially called Tradex Suisse. The decision to be present in Switzerland would respond to the necessity to equip the group with a legal frame in which the investments in the Forex Market are regulated as it is the Swiss legislation. After I magnify and express increase in the number of investors and the reached capital of investment, more than ten million dollars the USA in October of 2007, the taken decision to be in Swiss was essential by all the legal advantages, corporative image and stability that with her were obtained. Thus, in the second week of October of 2007, in the occasion of the first Convention the International of Forex Finances celebrated in Jamaica, Tradex Suisse was inaugurated officially.

**allinvain** · 02-22-2008, 09:55 AM

ok I gotcha, it doesn't need the license I mentioned as it is acting only as a sort of "transfer agent" for the Swiss company.

vicimi · 02-23-2008, 05:59 PM

Today, four people from Finanzas Forex held a meeting in Ljubljana (capital of Slovenia) with a group of major investors from Slovenia, and tomorow they are coming to Zagreb (capital of Croatia) to meet Croatian investors.

I will post all updates tomorow.

vicimi

vicimi · 02-25-2008, 10:22 PM

These information, in short, were given on yesterday meeting:

FFX respectively Tradexworld SA. has in plan to become a company which will in the next few years offer Forex investment possibilities for natural persons. Fascinating information is that FFX plan is to achieve 1 bill. USD trading fund.

FFX consists of FFX (registered in Panama) and TradexWorld SA. (registered in Switzerland). FFX is registered in Panama because of easy business transactions and liberal tax laws. TradexWorld SA. was registered to work with big investors in Major Account Program, which is now on stand-by and no information on harmonization and reactivation of this program was given, except that work is being done to achieve that. The only information is that people who have transferred funds from the Major Account to Regular Program are satisfied with its 20% yield. Dukascopy is a company with the best platform to enter Forex, and that platform was given to FFX traders with modification to receive exclusive programs owned by FFX only. Crown Gold is an American company receiving the money and transferring it to Dukascopy.

FFX has 7 traders of their own who trade on Forex through Dukascopy platform. This number of traders enables maximized safety because if one trader goes negative, other 6 who work it positive cancel the loss. For comparison if a person would go directly to Dukascopy brokers with their own traders he would be assigned a personal trader who would be in charge with his capital. If that one trader should make bad transactions, the investor is at the loss. FFX trades through 7 top traders and more will be hired as the business continues to grow. For example, last month one Ducascopy trader made a -49% forcing the entire Dukascopy to revision its business. FFX neatly made 12,5%. Besides that FFX trades with far bigger amounts due to leverage therefore the yield is bigger than when trading with investors’ money only. FFX actually trades with only 5% daily of the whole sum, and this 5% is distributed between 7 traders (each of them with his own strategy). Each trader has a drawdown limitation of 10% (in Variable Program this limit is 50%) meaning altogether that one trader can in one day create a drawdown of maximum 10% of 1/7 of 5% of total investment capital.

To deposit and withdraw money it takes minimum 15 to 20 days which is impossible to shorten but debit cards work and can be ordered through the system. Many investors reported that they work on all ATM machines.

vicimi

**allinvain** · 02-26-2008, 02:42 AM

I wish I had 1 mil so I can get into Dukascopy's Managed Account offering. Ohwell...better keep on working on it.