# $5000 a month - Formosa Auto Trade System



## gdavies2

I've googled a lot but can't find any internet info about the Formosa Auto Trade System for which I've been passed a flyer.

Package One talks of $1000 profit a month and the package costs $15980.
up to
Package Turbo talks of $5000 profit a month and costs $23100.

I've attached the two page document I've received.

Does anyone have any info about this as it's one of those things that seems to good to be true?


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## luke256

Never heard of them before.

It does sound too good to be true:

....will receive a laptop which after they turn it on will automatically trade the funds in broker account.

No knowledge or effort is required, only work required...... is to contact broker to transfer profits.


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## jersey10

If they can prove to you that it works like they say it does i would gladly handover the money.  I bet they can't though.


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## KurwaJegoMac

Why would they sell you something that actually worked that well? 

I know i'd buy 1,000s of these laptops with this 'amazing autotrade system' and then compound my gains and make billions every year.

Seriously i can't believe people still fall for this c***.


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## gdavies2

Has anyone heard of Bold Capital who seem to be the one's issueing the licence to the salespeople?  Or even the names of the Directors - Phillip Burton and John Wyke.

I really want to make sure all the info is here for everyone to see before they hand over any money to these people.


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## nunthewiser

YOU too can be like me .

Xmas special .. $ 15,999..........The traders Guide to pimpness


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## macca

Hmmmm,

20% a month, instos will pay billions for that knowledge, why muck about with retail peons who need to be guided all the way, just sell it to a big bank for 10 billion and retire, to easy 

A fool and their money deserve to be parted


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## Julia

gdavies2 said:


> I really want to make sure all the info is here for everyone to see before they hand over any money to these people.



Does this mean you are actually considering accepting this 'offer'???


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## Vicki

> Has anyone heard of Bold Capital who seem to be the one's issueing the licence to the salespeople? Or even the names of the Directors - Phillip Burton and John Wyke.




This could be Bill & Andrew's new gig!
As their old one is now well & truly exposed!..lol.

Free lap-tops..Ironically, 21st c.a.[Jamie Macintyre] is offering a similar thing now.
Pay I think 6k [which you will never see again] & you get a 'free' lap-top when you attend his seminar!

HMMM. Exspensive lap-top! 


Hey Nunthewiser, that was a funny post, love that humour.
Maybe the above opperators could supply a groovy out-fit like the one you pictured & let everybody 'feel da munny' to.

Maybe, if these guys do exist, they could give us here, a run down of how it all works?
I suspect not?


OOOH spooky memories of when some guy "Andrew Dimitri" told us:
 "Hey guys, I've like got this really grouse new strategy, I call it.. like da Dimitri strategy, I've got it all thought out, I sell a put 'den I buy a put, & presto, retirement,,honestly you can't go wrong!"
 Then add the 'clown'  Bill, who did his darndest to keep 'the dream' alive [shudder].

Vicki


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## So_Cynical

The depths of human stupidity and gullibility never cease to amaze me  even the most stupid and transparently improbable, non sensical get rich quick scheme will still pull in one idiot in every 500.


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## Buckfont

When I was little I was always told not to play with matches and they were never left lying around.

I guess there`ll always be latent pyromaniacs who cant resist seeing things go up in flames. Nothing worse than being in a burns unit when you can`t move and all is lost.

Warning


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## gdavies2

Julia said:


> Does this mean you are actually considering accepting this 'offer'???




lol, NO!, but I know someone who was considering it before they showed it to me.  I thought I would be able to show them on the internet that there had been people who had fallen for this but my searches have come up with nothing which is why I started this thread.


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## Vicki

Hi guys,
My friend rang mr cockburn named on the document, & chatted with him for approx. 20 mins....6.15pm.
He sounded very convincing, so my friend politely informed him of this thread, & whilst on the phone, the gentleman registered on this forum right there & then, 'cause he was interested in explaining what the 'product' was about.

Am genuinely interested in what he has to say, as he was very well spoken & informative.

Vicki


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## MACD

Sounds like a scam to me......................................


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## Alpha_Bet

I'd go for package 2.
Package 1: $15980 and $1000 profit per month.
Package 2: $23100. Only 7 odd grand more but 4 grand a month better off. $5000 a month have package paid off in 5 months.


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## nunthewiser

Alpha_Bet said:


> I'd go for package 2.
> Package 1: $15980 and $1000 profit per month.
> Package 2: $23100. Only 7 odd grand more but 4 grand a month better off. $5000 a month have package paid off in 5 months.






HAHAHAHAHHAHAHAH 

which brings me back to this.......


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## Vicki

It appears mr Cockburn doesn't want to discuss his wares?

Odd how they sound so convincing over the phone, how they spent millyuns on developing a program by an entity on the gold cost...A program similar to 'robots' or some such?

Disappointed, as he seemed very eager to talk?

Vicki


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## ColB

Vicki said:


> Hi guys,
> My friend rang mr cockburn named on the document, & chatted with him for approx. 20 mins....6.15pm.
> *He sounded very convincing*, so my friend politely informed him of this thread, & whilst on the phone, the gentleman registered on this forum right there & then, 'cause he was interested in explaining what the 'product' was about.
> 
> Am genuinely interested in what he has to say, as he was very well spoken & informative.
> 
> Vicki




Mr Cockburn is on THE CURRENT REGISTER OF BUILDERS, Builders Registration Board Western Australia, Registration Number 6056 - Cockburn Stephen Edward – Individual - 91 Rosedale Street FLOREAT PARK 6014 17/12/81 7315 Relative Pty Ltd MS

Operates a business called "Cd Constructions, 358 Salvado Rd, Floreat, WA 6014
Perth Western Suburbs p: 08 9387 2424

He also has a 1.650 million dollar property for sale on an island near Mandurah WA with its own deep water jetty if you're interested.  See http://www.noagentproperty.com.au/p.../11293/location-Outer_Perth-Mandurah-Wannanup


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## ColB

gdavies2 said:


> Has anyone heard of Bold Capital who seem to be the one's issueing the licence to the salespeople?  Or even the names of the Directors - Phillip Burton and John Wyke.
> 
> I really want to make sure all the info is here for everyone to see before they hand over any money to these people.




gdavies2 here is *Bold Capital*.....[From their website]

Bold Capital Pty Ltd is a financial services company providing advisory and execution services across a range of investment markets. We are able to select a strategy to suit your individual requirements, manage your investment portfolio and provide solutions for your equities or derivatives requirements.

We specialise in:

•Equities
•Derivatives
•Foreign Exchange 

Bold Capital Pty Ltd is also able to provide clients with access to trading platforms and online trading education services. 

P. 07 4957 2163
F. *07 4957 2171*
info@boldcapital.com.au
www.boldcapital.com.au

Bold Capital Pty Ltd. ABN 130 879 122 is a Corporate Authorised Representative 345604 of Avestra Capital Pty Ltd AFSL 292464

Bold Capital's phone number *07 4957 2163* is linked to The Key Equity Fund & Global Market Trader in Spring Hill, Queensland [see  http://globalmarkettrader.com/files/Key Equity Education SFSG.pdf]

SIGNAL SYSTEMS AND SUPPORT PTY LTD has a registered office in Main Beach QLD 4217 previously known as BURJI IMPORT & EXPORT PTY LTD


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## lindsayf

Is having a sticky where links to all the 'scam' threads are listed a good idea.  It would serve a few purposes.  People considering buying a product could go there to see what ASF has to say on it...and it would be very entertaining - I mean that B Stacy thread was better than anything on tv this year.


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## So_Cynical

lindsayf said:


> Is having a sticky where links to all the 'scam' threads are listed a good idea.  It would serve a few purposes.  People considering buying a product could go there to see what ASF has to say on it...and it would be very entertaining - I mean that B Stacy thread was better than anything on tv this year.




Great idea  would also help make those more inclined to give the sprukers money, more aware of just how many new threads like this we get...and just how similar they all are.


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## Market Depth

The least these Scammers could do is wrap it up in a 'Glossy Bochure' 

Where's the 'Bling for my buck'? 

Looks like something you find under your windscreen wiper. No imagination


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## Julia

lindsayf said:


> Is having a sticky where links to all the 'scam' threads are listed a good idea.  It would serve a few purposes.  People considering buying a product could go there to see what ASF has to say on it...and it would be very entertaining - I mean that B Stacy thread was better than anything on tv this year.



 Excellent idea.   The same sticky should include the thread "Professional Advisor Fees".

Joe, what do you think?


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## gdavies2

Thanks everyone for all the responses.  I'm glad this is being publicised a bit.  My worry with this is that the people being targeted are those who know nothing about Forex or where to start looking up info about it.
I'm sure that this builder - who according to the phone mentioned is a good talker - is a good salesman and this could lead to some people falling for this.

I also posted the original question on a couple of other boards but this one had by far the most response.
Thanks again.


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## TulipFX

Where is the evidence that their system makes the returns quoted?

*When looking at anything in this game make sure there is evidence, evidence, evidence.*

In addition, they talk about returns of 10-50% per month, but do not mention what risk there is to make those returns.

If something is too good to be true, chances are it probably is.


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## jackpot666

I know it sounds too good to be true but one of my friends has bought a package and was able to withdraw money above his original $10k bank amount after the first month. I am waiting to see what will happen after the 45 day guarantee period is finished which will be in a week or two. I have seen his daily reports and live trades and they seem realistic. Still have to say that it is too good.


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## TulipFX

jackpot666 said:


> I know it sounds too good to be true but one of my friends has bought a package and was able to withdraw money above his original $10k bank amount after the first month. I am waiting to see what will happen after the 45 day guarantee period is finished which will be in a week or two. I have seen his daily reports and live trades and they seem realistic. Still have to say that it is too good.




I don't believe you. Thank you for creating an account especially to spam us though.


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## Vicki

I think his name is Steve.
My friend e-mailed him last night, to encourage him to post here instead of just e-mailing the info.
I could pos. post the e-mails here if he doesn't mind.

Vicki


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## jackpot666

TulipFX said:


> I don't believe you. Thank you for creating an account especially to spam us though.



Dear Tulip - I have seen his laptop with live Trades -and it is as I said -  I have no interest in the company except that I have been considering it - but as I said It sounds too good to be true and I have been bitten before so will continue to watch and would appreciate any and all feedback from other forum members!


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## Liar's Poker

jackpot666 said:


> Dear Tulip - I have seen his laptop with live Trades -and it is as I said -  I have no interest in the company except that I have been considering it - but as I said It sounds too good to be true and I have been bitten before so will continue to watch and would appreciate any and all feedback from other forum members!




Jackpot,

You must appreciate that the majority of members on this forum will not entertain a statement or idea unless unequivocal evidence is presented to support it.


-Liar-


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## jimmyizgod

jackpot666 said:


> Dear Tulip - I have seen his laptop with live Trades -and it is as I said -  I have no interest in the company except that I have been considering it - but as I said It sounds too good to be true and I have been bitten before so will continue to watch and would appreciate any and all feedback from other forum members!





note to self when spamming a thread: stop using the phrase "too good to be true" lol.
im just amazed you get a free laptop even when on page two it says all the trading is done on online servers so it doesnt matter if your computer is not connected to the internet. 
sounds like another scalper bot like turbofap etc.


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## TulipFX

jimmyizgod said:


> note to self when spamming a thread: stop using the phrase "too good to be true" lol.
> im just amazed you get a free laptop even when on page two it says all the trading is done on online servers so it doesnt matter if your computer is not connected to the internet.
> sounds like another scalper bot like turbofap etc.




I don't know what it uses, as there is no evidence but the Asian scalping systems are dead. The market has changed and they simply struggle nowdays.

As an illustration:


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## jackpot666

Liar's Poker said:


> Jackpot,
> 
> You must appreciate that the majority of members on this forum will not entertain a statement or idea unless unequivocal evidence is presented to support it.
> 
> 
> -Liar-




Sure I would agree with that - so I am watching my friend with interest for awhile to see if he can keep withdrawing money from his profits. If he can it would justify me looking further at it. He is usually very cautious so i was surprised when he told me that he had bought into this programme.
jackpot


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## goldmine

jersey10 said:


> If they can prove to you that it works like they say it does i would gladly handover the money.  I bet they can't though.



I would love to prove to you that Formosa Auto Trade does what you have heard and more! I am their Product Manager. If you would like to contact me on #########, I would be only to happy to set up your computer screen. so it can see mine and I will show you a $5,000 trading account in action, a $10,000 account and a $25,000 account.
Yes, the guarantee and Signals, Fystems and Support paperwork which is posted here is our paperwork.


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## TabJockey

These threads are hilarious. There should be a special section for them though.


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## goldmine

jackpot666 said:


> Dear Tulip - I have seen his laptop with live Trades -and it is as I said -  I have no interest in the company except that I have been considering it - but as I said It sounds too good to be true and I have been bitten before so will continue to watch and would appreciate any and all feedback from other forum members!






gdavies2 said:


> I've googled a lot but can't find any internet info about the Formosa Auto Trade System for which I've been passed a flyer.
> 
> Package One talks of $1000 profit a month and the package costs $15980.
> up to
> Package Turbo talks of $5000 profit a month and costs $23100.
> 
> I've attached the two page document I've received.
> 
> Does anyone have any info about this as it's one of those things that seems to good to be true?
> 
> View attachment 40498
> View attachment 40499




Please allow me to help you, I am Product Manager for Formosa Auto Trade, if you would like to see our accounts, showing all the details from starting date to the present
I am only too happy to set up your computer screen so you can see every trade that has been done. You will see the difference between a $5000 tading account, a $10,000 and a $25,000 account, We do not have a website, as our product sells itself! Call me on ** phone number removed **.


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## lindsayf

each year ASF could do a 'Top 20 trading scams' with awards for the \
most blatant
most unbelievable
most ridiculous
most entertaining
most persistent
most convincing
and..?

we may have a nominee?


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## lindsayf

Hi Goldmine

Could you please give us an idea of your methodology and money management technique?  Dont give away too much, just general descriptions will do

thanks


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## Market Depth

I'd like to see it trade in person if I may? A plane ticket is cheap. Where abouts on the Gold Coast are you?


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## nunthewiser

unreal


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## Vicki

goldmine said:


> I would love nothing more than to prove to you that Formosa Auto Trade does everything you have heard and more. I am their Product Manager and you can contact me on ** phone number removed ** if you would like me to show you on your computer screen our different size accounts in action, listing all trades conducted since trading commenced.




I think the moderators of this forum would welcome the oppertunity for you to post your trades here, for all to see, & discuss.
A good oppertunity to show a lot of people what your system can do.

Vicki


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## jimmyizgod

Did Jesus give away his secrets of how to walk on water? No. Cmon guys leave him alone and just trust that the software will earn you thousands a month while doing nothing. 
Believe.

Plus what's the worst that could happen? You loose all you capital and pay a couple of grand for a 400 dollar laptop.

Im gonna buy the top package three times


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## nunthewiser

HAHAHAHAHAHAHAHAHA

can i have permission to swear Joe?


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## TulipFX

goldmine said:


> Please allow me to help you, I am Product Manager for Formosa Auto Trade, if you would like to see our accounts, showing all the details from starting date to the present
> I am only too happy to set up your computer screen so you can see every trade that has been done. You will see the difference between a $5000 tading account, a $10,000 and a $25,000 account, We do not have a website, as our product sells itself! Call me on ** phone number removed **.




www.myfxbook.com


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## Joe Blow

Just a reminder to vendors and company representatives what their rights and obligations are when participating in threads about their product or service here at ASF.

1) You are entitled to correct any misinformation or challenge any statement made about your product or service. You are also entitled to respond to any questions.

2) You are not entitled to directly promote your product or service (i.e. no sales pitches!)

3) You cannot make any claims about performance without being first prepared to forward supporting evidence to ASF by mail. Any evidence forwarded to us must be certified by a Justice of the Peace or equivalent.

4) Participation in a thread about their product or service by a vendor or company representative means that they have an obligation to make an attempt to respond to every legitimate question posed to them by ASF members.

...and no swearing Nun!


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## Joe Blow

This thread has turned into a spam magnet and I have decided to close it permanently.

After some research I have become concerned that this thread and another started at another forum with a virtually identical first post, may be an attempt to raise the profile of and get some free advertising for a product which apparently has no website to promote it.

It also appears that an individual directly associated with the product may be posing as a satisfied customer in the thread started on the other forum, a tactic that we see regularly here at ASF and one I find particularly unethical and dishonest.

The phone numbers posted by a company representative have been removed from all posts in this thread where they appear.


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## jackpot666

Please be aware that this Formosa autotrade system has caused a number of people to lose all of their capital. If you are contemplating a purchase ask a couple of questions -
1) Have any members/purchasers lost all their trading capital?(They have!)
2) Does their money back guarantee cover the trading bank as well as the fee? (It doesn't!)
3) How does the system cope with large movements caused by Banks and / or Governments dumping currencies - it doesn't!!!
4) What forex expertise do the distributors have - they appear to have none!
5) If you are offered the chance to look at trading accounts make sure you check out every loss from beginning of feb 2011 till now and you won't be impressed!

The system does APPEAR to work well for awhile but thennnnn!!!
Buyer Beware

jackpot666

After some research I have become concerned that this thread and another started at another forum with a virtually identical first post, may be an attempt to raise the profile of and get some free advertising for a product which apparently has no website to promote it.

It also appears that an individual directly associated with the product may be posing as a satisfied customer in the thread started on the other forum, a tactic that we see regularly here at ASF and one I find particularly unethical and dishonest.

The phone numbers posted by a company representative have been removed from all posts in this thread where they appear.[/QUOTE]


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## The General

Hi All,

This is my first post, so please go easy on me !

In terms of this particular offer, I know nothing about it but I must agree with other posts that question the amount of research that potential clients perform into trading related products and services. The list of questions above is very sensible but failing that, the one SINGLE question that I would ask in such a position would be 'What experience does the vendor have in the trading industry ?'. The vast majority of such vendors are 'self-taught' and although this avenue may have provided a good education for some who are selling products and services, this is in the vast minority.

I would always ONLY consider products and or services offered by vendors who have actually worked for a number of years in the industry (eg for investment banks, funds etc.).

Also, FWIW, vendors with this experience always mention it, so it wouldn't be that hard to determine if this is the case or not...

Just my 2 cents...


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## DB008

LOL!


http://www.sportsbettingchamp.com/?hop=costanova


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## TabJockey

DB008 said:


> LOL!
> 
> 
> http://www.sportsbettingchamp.com/?hop=costanova




Wow that page was so longgg, and the testimonials so wierd! At least it was a bargain though I hope he emails me soon...$197...bargain


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## TulipFX

http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/13119-formosa-auto-trade-system-3.html


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## DB008

Forex Fools and Liars
Why Everyone In This Business (Including Me)
By Jason Fielder

PDF
http://fpa.s3.amazonaws.com/forexfoolsandliarsreport/ForexFoolsAndLiars.pdf


Hubert Senters from _Trade the Markets_ does a quick web cast (4 minutes long). Interesting and l recommend a quick viewing (link below).
http://www.tradethemarkets.com/public/Is-the-Retail-Forex-Markets-Rigged.cfm


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## jackpot666

*Re: $5000 a month - Formosa Auto Trade System - Paycheck Autotrade system*

Hi All please be aware that the Formosa auto trade system is now called paycheck auto trade. I have to admit I bought a system and lost MORE than my bank!!! So I am very dirty about that. 
Others have lost all their money too so anyone contemplating buying in should consider this - the system does work as it should MOST of the time but it can not handle big fluctuations - i have proof.
Also one thing the distributors will not tell you when they say you have a money back guarantee is that the guarantee only covers you for the purchase fee not your bank. So if you decide to pull out within the guarantee period you may get your fee back but your Axitrader account could be in major drawdown which you will lose if they stop your programme trading. I believe the guarantee is not 45 days anymore either.
I challenge any of the formosa/paycheck distributors or directors to challenge what I have just said please?



DB008 said:


> Forex Fools and Liars
> Why Everyone In This Business (Including Me)
> By Jason Fielder
> 
> PDF
> http://fpa.s3.amazonaws.com/forexfoolsandliarsreport/ForexFoolsAndLiars.pdf
> 
> 
> Hubert Senters from _Trade the Markets_ does a quick web cast (4 minutes long). Interesting and l recommend a quick viewing (link below).
> http://www.tradethemarkets.com/public/Is-the-Retail-Forex-Markets-Rigged.cfm


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## Plumber1

*Re: $5000 a month - Formosa Auto Trade System - Paycheck Autotrade system*



jackpot666 said:


> Hi All please be aware that the Formosa auto trade system is now called paycheck auto trade. I have to admit I bought a system and lost MORE than my bank!!! So I am very dirty about that.
> Others have lost all their money too?




These guys are moving targets. They change their business names faster than I change my underwear. 
Can you tell us who the Directors were and where they operate from?


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## jackpot666

*Re: $5000 a month - Formosa Auto Trade System - Paycheck Autotrade system*

Hi - sorry to take so long to reply. The directors are John Wyke and Philip Burton - they have moved offices and I am not sure of their new address but will track them down. The company trades as signal systems and support pty ltd. ACN 111711472
cheers





Plumber1 said:


> These guys are moving targets. They change their business names faster than I change my underwear.
> Can you tell us who the Directors were and where they operate from?


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## Plumber1

*Re: $5000 a month - Formosa Auto Trade System - Paycheck Autotrade system*



jackpot666 said:


> Hi - sorry to take so long to reply. The directors are John Wyke and Philip Burton - they have moved offices and I am not sure of their new address but will track them down. The company trades as signal systems and support pty ltd. ACN 111711472
> cheers




Some photos of John Wyke and Philip Burton would be nice.   
They sound like real nice types. Some others probably would really like to know what they look like.


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## Forex Dan

haha, there's so many dodgy companies out there these days. hard to tell the **** from the bull**** :

i had a friend actually work inside one of these 'top name' mobs and they charge $X for a robot/signal, not one of them in the building (over 20 employees including director/floor manager) were traders. They were all sales reps. 

Save your money and head to http://www.babypips.com they have a school for free. Never fork your hard earned cash to these dickheads


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