Helena Izotova
History always gyrates, which means there will always be ups and downs, clear trends and periods of standstill. For all FX traders out there, it is all about timing. In other words, it is important to join and leave the trend just in time.
A company’s name reflects its aspirations and prospects. That is why they founders called their company Forex Trend. The company’s history over the last 5 years is a crying example of a classic Forex trend with momentums and retracements.
In 2010 through 2014, Forex Trend saw an uptrend allowing its clients to make millions of dollars. In early 2015, the trend slowed down and a retracement followed, which reflected in some major difficulties for the company and its clients.
However, a new uptrend is coming, thereby giving Forex Trend clients hope for the better. The new uptrend for the company and its clients is expected to start in September 2015…
The thing is that Concorde Capital, one of the biggest investment companies out there, decided to purchase Forex Trend, thereby giving all of its clients to get the frozen funds back and make new profits.
Bitter Lessons Learned by Forex Trend
Success 2010-2014
Forex Trend was founded in 2010. Over a relatively short period of time, it became a major FX broker. In 2012, it was considered one of the industry’s leaders in terms of PAMM investing. It introduced a lot of innovative investment solutions including PAMM indexes. Even Forbes interviewed the company’s most successful managing traders. In July 2014, Forex Trend and Forbes launched a joint contest for PAMM managing traders, which was an unprecedented event.
Hundreds of Forex traders and investors posted their success stories all around the web. Most of them were happy to share their success – 50-90% a year as passive income within the scope of PAMM investing. All profits were easy to withdraw or reinvest. In 2014, Forex Trend started expanding worldwide – Europe, India, China, New Zealand.
All of that success resulted from a number of key factors:
1 – Innovative solutions that chanced the global FX PAMM investing industry, including PAMM indexes making it possible to generate stellar profits at reduced risks at the expense of 5 or more FX traders managing investor funds collectively and using various strategies and approaches to reduce the overall exposure and risks. The indexes proved really efficient. Over the course of 3 years, Forex Trend investors enjoyed over 100% of annual ROI.
Later on, the PAMM service was improved by introducing PAMM 2.0 – a system, where each managing trader was financially responsible for losses. At the same time, Forex Trend was the industry’s first company to start insuring FX PAM investments.
Moreover, over the course of these years, Forex Trend managed to hold several contests for managing traders to distribute millions of dollars between them as investment pools.
2 – Forex Trend was transparent and open to the public. The company’s management arranged a series of webinars for traders and investors, answered endless questions and applied multiple methods of an efficient marketing policy.
3 – A pretty wide choice of investment solutions allowed Forex Trend to cater to the needs of sophisticated and demanding clients. The PAMM investment system was truly flexible since it allowed to build a portfolio of various strategies – from conservative to aggressive – brining from 30-40% to 70-100% a year and even more.
4 – Licenses in many countries, including the EU, Russia, Ukraine, China, India, New Zealand.
5 – Forex Trend was among the leaders in various Forex ratings.
In other words, Forex Trend had everything to keep on succeeding and expanding. So why did the company see a retracement in its personal trend of development?
Retracement 2015
In early 2015, Forex Trend started losing its ground, which came as a surprise to all of us. The headlines cried about cases of non-payment, scam, account blocking etc. The wave of disgrace in mass media started AFTER Forex Trend had difficulty withdrawing client funds. Were there any hints that could tell traders and investors to take profit and withdraw funds before it all happened? Market Leader says there were some of them.
In January 2014, Forex Trend changed its top management. Those who founded the company resigned while the new managers made a number of big mistakes leading to disastrous consequences for the company and its clients. Some of the biggest mistakes concerned risk management amid the devaluation of the Russian Ruble and the Ukrainian Hryvnia against the U.S. Dollar and other majors.
Anyway, a change of top management is always a wake-up call for investors and shareholders. Still, Forex Trend Traders and investors had nearly 12 months to reduce their exposure or withdraw completely. All those guys who previously invested in Western investment funds withdrew shortly after the news while the others simply ignored the fact.
The second wakeup call was the fact that Panteon Finance went bankrupt. The thing is that Panteon Finance and Forex Trend had a common shareholder. This provoked panic among the company’s clients, which resulted in a liquidity crash for Fore Trend. As you know, even major banks can crash if most of the clients start withdrawing their funds at the same time.
Under such circumstances it would be wise to suspend financial withdrawals (the way it was don in Greece in advance of the referendum). However, the company’s new management ignored this fact and kept on withdrawing millions of dollars in February and March 2015. That was a huge mistake.
There is one thing thing that still keeps the company’s reputation alive. That thing is that the polices investigated into the matter to find out that not a single cent was suspended outside of withdrawing funds to existing clients. That is why Forex Trend hasn’t been subject to any legal action so far.
Still, this undermined the company’s image. It still cannot function properly. However, the solutions is found. As we have mentioned, Concorde Capital (the leader in M&A deals in the CIS’ financial sector) purchase Forex Trend’s assets and is going to found a new FX broker.
Should We Join the New FX Trend?
It is a difficult question to answer. It is completely up to you to decide wither to join it or not. Still, before, making up your mind, please make sure that you have taken into account the following factors:
The new company is going to be based on Forex Trend’s assets and give Forex Trend clients open accounts on privileged conditions to quickly recover losses.
In 2014-2015 there were many financial bankruptcies. However, Forex Trend is the only company to be interesting to a major investors trying to save the day for the company and its clients. This means that all Forex Trend clients applying for compensation until August 15th, will get a chance to recover their losses and become a client of a new FX broker embracing the benefits and advantages of Forex Trend and Concorde Capital, a major investment company.
Some rivals started making fake clones trying to ruin the attempt to revive the company. That is why, Concord Capital warns that its only official website is concorde.ua.
Helena Izotova
