Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • MatthewAinsworth
    • By MatthewAinsworth 17th Oct 16, 1:53 PM
    • 2,243Posts
    • 908Thanks
    MatthewAinsworth
    Suspicious forex scheme
    • #1
    • 17th Oct 16, 1:53 PM
    Suspicious forex scheme 17th Oct 16 at 1:53 PM
    One of my assistants told me today he's looking into and preparing to invest in forex using software called 4x-dat. He reckons he can avoid losses completely by 'hedging' - but that doesn't make sense to me as if you completely hedged your position you'd make no profit. I asked him if its through use of future contracts, he said no, so I'm not sure how he's actually planning to hedge it. He wasn't great at explaining it and I felt quite bamboozled

    Like a scammer would he told me great stories of profits so I asked him if there were mutual funds doing this, because I said there would be a great incentive for them to manage other peoples cash if what they do really is profitable, and he said not for what he's looking at

    Does anyone know if it is a scam? 4x-dat? My instinct thinks it is
Page 1
    • bigadaj
    • By bigadaj 17th Oct 16, 4:13 PM
    • 7,866 Posts
    • 4,797 Thanks
    bigadaj
    • #2
    • 17th Oct 16, 4:13 PM
    • #2
    • 17th Oct 16, 4:13 PM
    You have assistants?
    • MatthewAinsworth
    • By MatthewAinsworth 17th Oct 16, 4:21 PM
    • 2,243 Posts
    • 908 Thanks
    MatthewAinsworth
    • #3
    • 17th Oct 16, 4:21 PM
    • #3
    • 17th Oct 16, 4:21 PM
    Yea assistants/minions
    • Pincher
    • By Pincher 17th Oct 16, 4:26 PM
    • 5,864 Posts
    • 2,146 Thanks
    Pincher
    • #4
    • 17th Oct 16, 4:26 PM
    • #4
    • 17th Oct 16, 4:26 PM
    Taylor Swift making tentative steps into finance:

    "~X@//$! That's coming out of your wages, you utter moron!"

    I want Nock Broomfield to make the documentary.
    What happens if you push this button?
    • Malthusian
    • By Malthusian 17th Oct 16, 4:55 PM
    • 1,196 Posts
    • 1,583 Thanks
    Malthusian
    • #5
    • 17th Oct 16, 4:55 PM
    • #5
    • 17th Oct 16, 4:55 PM
    No, not a scam. It's gambling and the house always wins. Your assistant is a mug.

    Hedging in this context most likely means that when you place a bet on red you place another one on black. Which means you can't lose! What do you mean, "there's a zero"?

    That's one possibility but quite frankly it could mean anything as your assistant has no idea what he's talking about.
    • badger09
    • By badger09 17th Oct 16, 5:43 PM
    • 4,266 Posts
    • 3,480 Thanks
    badger09
    • #6
    • 17th Oct 16, 5:43 PM
    • #6
    • 17th Oct 16, 5:43 PM
    No, not a scam. It's gambling and the house always wins. Your assistant is a mug.

    Hedging in this context most likely means that when you place a bet on red you place another one on black. Which means you can't lose! What do you mean, "there's a zero"?

    That's one possibility but quite frankly it could mean anything as your assistant has no idea what he's talking about.
    Originally posted by Malthusian
    Wonder who they work for
    • MatthewAinsworth
    • By MatthewAinsworth 17th Oct 16, 6:07 PM
    • 2,243 Posts
    • 908 Thanks
    MatthewAinsworth
    • #7
    • 17th Oct 16, 6:07 PM
    • #7
    • 17th Oct 16, 6:07 PM
    I definitely won't be touching forex, like commodities i can't see where an amatuer would really expect to make money without dividends

    I suppose you could have a cash account abroad if its a good rate but it wouldn't beat equities anyway
    • MatthewAinsworth
    • By MatthewAinsworth 17th Oct 16, 6:17 PM
    • 2,243 Posts
    • 908 Thanks
    MatthewAinsworth
    • #8
    • 17th Oct 16, 6:17 PM
    • #8
    • 17th Oct 16, 6:17 PM
    I have peers and we share the same pool of assistants, I used to be one till recently when my boss retired
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,364Posts Today

6,013Users online

Martin's Twitter
  • Going to a very exciting premier right now... with Mrs and mini MSE, to the screening of "we're going on a bear hunt"

  • No. Not a huge fan. Never claimed to be.Just a fan. And one who choose to prioritise family time with his little gi? https://t.co/lZ9uUylk2U

  • I've just checked the score. You're right. What happened? https://t.co/5E7y52r47o

  • Follow Martin