Professional Forex Union On Authorities Radar

[ICCBernd]

Another HYIP Ponzi scheme has popped up on authorities radar. The scheme is called "Professional Forex Union" and is doing business under the web address Pro Forex Union - Professional Forex Union (http://www.proforexunion.com). It advertises crazy returns and aims mainly at naive people.

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Philippines Securities And Exchange Commission Issues Pro Forex Union Warning | InternetCyberCrime.com (http://internetcybercrime.com/philippines-securities-and-exchange-commission-issues-pro-forex-union-warning/)

[littleroundman]

http://img593.imageshack.us/img593/9311/secphi.jpg

http://img33.imageshack.us/img33/3668/whoisq.jpg

[wserra]

Another HYIP Ponzi scheme has popped up on authorities radar. The scheme is called "Professional Forex Union" and is doing business under the web address Pro Forex Union - Professional Forex Union (http://www.proforexunion.com).

Malwarebytes blocks that page.

[ribshaw]

It is worth noting for anyone that is doing a little research into Forex trading, that according to an ad by Interactive Brokers, less than 50% of their accounts showed any profit at all. And they were the most profitable Forex broker listed. From there you need to pull out the people who are barely breaking even, but showing a profit, and what are known as hedgers. Quite simply hedging is like buying insurance. They may show a huge gain on a Forex transaction, but they would have a similar offsetting losing business transaction off the exchange. If that sentence does not make sense you probably should not be investing in Forex.

That brings us to the small group of successful traders, Barrons magazine reports a tracking of the most successful trading funds over 1, 3 and 5 year periods about once a month. The very best returns seldom belong to the same funds. In other words they make it big one year and give it back the next year. But none is making 1% per day or any such nonsense, and by law none is dealing with $50 accounts. In fact by law they are not allowed to advertise, and very good traders literally have millions thrown at them. They don't need uncle Joe at the corner market to do their marketing.

Save your money on Forex trading schemes.

[NikSam]

Link to SEC alert: http://www.sec.gov.ph/notices/advisory/professional%20forex%20union%20limited.pdf

[ICCBernd]

I located the real server location and IP which is "78.46.65.209". Server is provided by "Hetzner Online AG" in Germany which seems the provider of choice for big HYIP Ponzi schemes.

Source: Professional Forex Union Is Going Down | InternetCyberCrime.com (http://internetcybercrime.com/professional-forex-union-is-going-down/)

[PPBlog]

Boat-sharks looking for Profitable Sunrise blood in the water the other day were pitching ProForexUnion on a PS Facebook site. It seems to be a bit like the Club Asteria scam in that is trading in part on the name of the World Bank and also claims it is doing good deeds through the San Diego Blood Bank. (Club Asteria claimed good deeds through the American Red Cross, which later sent it a cease-and-desist letter.)

Like Profitable Sunrise, ProForexUnion also has a presence on the TalkGold and MoneyMakerGroup Ponzi boards.

PPBlog