The Fxkeys.com to Ruining Your Account 1

By | September 9, 2014

Update May 2016: Fxkeys.com have re-branded themselves into LuckScout.com. Different name, same junk.

This is a great example of why having my own site to freely express views and thoughts is important to me. I was made aware of fxkeys.com, a website run by one Chris Pottorff with supposedly 23 years of trading experience. Judging by the articles’ titles and the comments left by readers it is aimed at novices. So far, so good. The problems started after I read a few of those articles and found a lot of  bad information and outright lies. I tried to point this out in a couple of comments, but guess what, they weren’t approved. You can see them waiting for moderation in the picture below:

Unapproved comments

Unapproved comments

After a little while they just disappeared. I urge any trader who tries to apply anything seen on that site to think twice. Just in one article there are several falsehoods, as evidenced not only by the fact that my comments were removed, but by common sense as well. Taking advice from someone who so blatantly lies is a sure way to ruin your account.

1. We opened a $1000 account and then started trading with it using our shared trade setups. The account turned into $100,000 in 14 months. That was a great achievement, not because of turning a $1000 into $100,000, but because of the lesson we learned.

I’m not saying this isn’t possible, given a very favorable trading environment (think the dot com bubble). It’s just extremely unlikely.

2. One of us who was used to have a million dollar trading account, withdraw the money and left only $10,000 in the account. For him, who was used to have a million dollar account and make a reasonable profit every month for several years, $10,000 meant nothing. Trading with a $10,000 account had no risk for him at all. He turns his $10,000 account into a million every 2-3 years.….. He has raised his trading capital to a million dollar few times so far. This is what many of our other team members are doing, but just with different amounts of money and account sizes. This is what I have been doing for several years too.

This is where the plot thickens and the bullshit becomes real. No one can grow an account 100x times every 2-3 years. Not even one person, let alone several as this guy is implying. Anyone with half a brain would have no difficulty in seeing through these lies.

At this point it doesn’t seem to be a fully fledged scam as there doesn’t seem to be any services for sale. But beware, with that kind of statements, my guess is that we have a scam in the making.

236 thoughts on “The Fxkeys.com to Ruining Your Account 1

  1. Mark

    FxKeys performance:

    May 0% or (-4%),
    June 0%,
    July 0%,
    August 0%,
    September 0%,
    October 0%

    EUR/CAD long – still open

    “Making a 20% monthly profit for those who really pass the learning stages is a piece of cake. When I started writing on FxKeys and I talked about making this amount of profit, some people criticized that it is not possible to make this profit every month and professional traders say that even 5% monthly profit is too much. However, as I kept on writing on FxKeys, those traders who followed me precisely admitted that it is possible to make even 30% profit every month only by taking the 100 score setups.)”. Chris Pottorff/Vahid Chaychi

    Reply
  2. Mark

    FxKeys performance:

    May 0% or (-4%),
    June 0%,
    July 0%,
    August 0%,
    September 0%,
    October 0%,
    November 0%

    EUR/CAD long – still open

    “Making a 20% monthly profit for those who really pass the learning stages is a piece of cake. When I started writing on FxKeys and I talked about making this amount of profit, some people criticized that it is not possible to make this profit every month and professional traders say that even 5% monthly profit is too much. However, as I kept on writing on FxKeys, those traders who followed me precisely admitted that it is possible to make even 30% profit every month only by taking the 100 score setups.)”. Chris Pottorff/Vahid Chaychi

    Reply
    1. Linz

      FXKeys trading signals 0%
      RXKeys trading recommendations 0%
      FXKeys trade following service 0%
      FXKeys subscription fees 0%
      FXKeys trading strategies, up to you
      FXKeys trade exits, up to you
      FXKeys risk/ reward ratios, up to you
      FXKeys member’s real profitability data uncollected
      FXKeys methodologies and technical data are free and not prescribed
      All information is at trader’s risk as defined by law so up to you to decide if useful or not

      Therefore a 0% win rate statistic is a theoretical pissing in the wind 100%

      Reply
      1. Mark

        FXKeys trading signals – as much as one can see in FxKeys performance analysis.

        RXKeys trading recommendations – FxKeys trade setups. It’s up to FxKeys followers if they want to follow Chris/Vahids trade setups or not.

        FXKeys trade following service –1) The First Risk Free Program – came to nothing. 2) The FxKeys Millionaire Club (the Second Risk Free Program) – came to nothing.

        FXKeys subscription fees – The FxKeys Millionaire Club – 100$ monthly pay.

        FXKeys trading strategies – Bollinger Bands Breakout.

        FXKeys trade exits – 1st. position 1:5, second position bigger.

        FXKeys risk/ reward ratios – 1st. position 1;5, second bigger.

        FXKeys member’s real profitability data – the same as in FxKeys performance analysis.

        FXKeys methodologies and technical data – It’s up to FxKeys followers if they want to follow Chris/Vahids trade setups.

        All information is at trader’s risk as defined by law so up to you to decide if useful or not

        Therefore a 0% win rate statistic is the FXKeys member’s real profitability data.

        Reply
  3. Linz

    Mark, if that’s your real name, I am grateful to FXKeys for the trading info provided free and you also are probably still a member albeit undercover so you will not get excluded from any benefits you might receive from whom you criticize so readily.

    I really don’t know what the intentions of FXKeys were or are but you seem to know everything. The risk free program of obtaining revenue from advertisers’ on that site and members being able to tap into that on a points system for real trading was an interesting new idea on face value, but apparently met technical difficulties. You can presume other reasons but that’s just a guessing game so I refuse to get excited about stuff that may or may not be real. That includes the so called Millionaire’s club. My only hesitation was paying for something which contradicted the ‘risk free’ philosophy stated from the beginning. I think many members felt that but it was never officially released (because of criticism or why I know not but you will) and it was an idea that has not yet got off the ground therefore no harm done.

    So I have to judge only on what actually exists at this point, and that is there is no trade copying service or fees to pay therefore the owner of the site is answerable to no one and is entitled to do or say whatever he likes including analysis which members can follow or not. And you can keep posting monthly % win/lose rates based on imaginary entries if you have the time. I suspect you lost money and blame FXKeys for that, hence the bitterness.

    Meanwhile I would rather put energy into mastering trading. You can carry on with being a master sleuth if you want, but you are wasting your time in my view trying to prove a point until you have some real evidence of ill intent and injured parties there are much more important concerns in this world.

    I wish you trading success

    Reply
  4. Mark

    FxKeys performance:

    May 0% or (-4%),
    June 0%,
    July 0%,
    August 0%,
    September 0%,
    October 0%,
    November 0%,
    December 0%

    EUR/CAD long – still open

    “Making a 20% monthly profit for those who really pass the learning stages is a piece of cake. When I started writing on FxKeys and I talked about making this amount of profit, some people criticized that it is not possible to make this profit every month and professional traders say that even 5% monthly profit is too much. However, as I kept on writing on FxKeys, those traders who followed me precisely admitted that it is possible to make even 30% profit every month only by taking the 100 score setups.)”. Chris Pottorff/Vahid Chaychi

    Reply
    1. Kenny

      Mark,

      Can you explain how you derived those results? If you look at “Chris'” articles, he did open some trades according to his analysis. Surely there are some profits from one of those set ups and also mentioned by him?

      Like many, I want to understand and get balanced views of Fxkeys. Cheers.

      Reply
      1. Sohai

        Hi Kenny,

        No matter how, Chris is a liar. But what is good is he is willing to share his knowledge to us and thus it was benefited. His contribution (hook) had lost its magic to pull us in to his fraud.

        Regards

        Reply
        1. Noeng

          Hi all,,
          I am also a FXkeys follower, so far I feel an incredible sensation of FOREX trading, Chris and Colleagues tutor very useful , also very precise analysis .
          If you want to know my transaction history based on the FXkeys analysis , please email to ” noengdema@gmail.com
          I will be send my CSV File :
          – Historical analysis of FXkeys by Chris Pottorrf -period Feb’13 to Jul’15)
          – History of my demo trading -period Apr’13 to Oct’14
          – History of my real account -period Jan’15 till now
          If you want , i can send you my micro lot account number and password
          — From $10 to $82 , in six month —

          In my experience, the first year with demo Account is not very good, but in 2014 there was a fairly rapid development, so in 2015 I decided to open a real account with an initial deposit of US$ 1000.
          Its growth is very impressive, now my account is already a US$ 37 852.

          There is wrong with that ????
          Is there an advantage for FXkeys or Chris Pottorrff and Colleagues ??

          Why are you so giddy about who’s Chris ///??
          Why do you have to insult us in FXkeys ///??
          Why you so naive about who’s Chris and how he ///??
          This Earth is not your mom’s ,, anyone can Comment and Analysis ,,

          Bravo FXkeys
          Happy Trading

          Reply
      2. Mark

        FxKeys’, Chris’, Vahid’s last trade setup was this:
        http://www.fxkeys.com/nzdjpy-weekly-chart-retesting-of-the-broken-support-line/

        “EUR/CAD has also formed a long trade setup by 2015.06.29 candlestick on the daily chart. This setup is so similar to EUR/AUD, but it is stronger. The 2015.06.29 candlestick has closed above middle band while the market is bullish. The candlestick strength and Bollinger Lower Band breakout it has formed, plus the market direction on the daily chart, have formed a 100 score long trade setup”.

        The first target reached. The second still open and it is looking very good so far.

        Since that day Chris/Vahid has not published any trade setup because the system he uses has not given any 100% trade setup except (if I remember) one but he missed it.

        Reply
  5. Mark

    FxKeys performance:

    May 0% or (-4%),
    June 0%,
    July 0%,
    August 0%,
    September 0%,
    October 0%,
    November 0%,
    December 0%.

    2016
    January 0%

    EUR/CAD long – still open

    “Making a 20% monthly profit for those who really pass the learning stages is a piece of cake. When I started writing on FxKeys and I talked about making this amount of profit, some people criticized that it is not possible to make this profit every month and professional traders say that even 5% monthly profit is too much. However, as I kept on writing on FxKeys, those traders who followed me precisely admitted that it is possible to make even 30% profit every month only by taking the 100 score setups.)”. Chris Pottorff/Vahid Chaychi

    Reply
      1. Sohai

        Actually can not said it was 100% BS. There are something useful and kind of encouragement was giving in the articles.

        Reply
  6. Sohai

    Hi Guys, I think we should gather all the fxkeys members somewhere else. Hope you guys see this message.

    Reply
  7. Sebastian

    I’m very sad that FxKeys went down. I tried to suggest to establish an alternativ a few weeks/months ago but unfortunately people hoped that the website owner would come back. I do not know what happened – maybe the owner died and contracts were quit – because fxkeys.com the domain cannot be resolved anymore – so the web hosting provider deleted everything as it seems. It does not matter what happened, there were some great people like Raj who did an excellent education in the forums. Just write here if you find this – let’s see how many members really find that page here in order to evaluate if it’s worth it to put up a forum alternative.
    Sebastian

    Reply
    1. sohai

      i think he didn’t die because he had replied someone message in his fxkey facebook page.

      Regards.

      Reply
  8. Sebastian

    Hi Sohai,

    I entered the facebook group I found on that blog, that would be a good way to get in touch again, but I’m not sure how many fxkeys member will find these comments here, because some may be insulted and not continue reading when seeing the article.

    Could you please link the facebook page you meant where he replied someone’s message?

    That someone might have passed away was an idea, because the website was unfortunately a one-man show so if something happened to that person, after several months contracts would get quit including the web hosting stuff.

    Reply
  9. Sebastian

    Thanks, It doesn’t seem anybody reads the stuff in here.
    The fxkeys.com DNS name cannot be resolved anymore, this does not usually happen by a technical error – so somebody put the whole stuff offline on purpose.

    Any ideas for other forex communities to share trading ideas? I don’t want to pay for yet another course (e.g. learnToTradeTheMarkets.com etc.) they all have communities but you have to buy the course which is useless unless you’re a total beginner.

    Reply
  10. Sebastian

    Keith nice to see you, if you like to publish your e-mail address I’ll write them all down – let’s give it one week or so to see if more people find their way here.

    Reply
  11. Graham

    Hello Sbastian

    Very sad to hear of the close down of FXkeys site. It seems to have been on the cards for some months. Just when I joined the site. I didn’t get any feedback from the owner(s) of the site on my couple of enquiries. I got plenty of useful, and well-intended feedback from the sincere members.
    As you know, I have found the information on the site to be very useful. I had intended this week to review much of it, as I think going over it a few times helps to cement the ideas in your mind. Initially, I found the Bollinger band break-out strategy to be extremely successful. Of late, I have struggled to stay at break-even over a period of around 2 weeks. This, I believe, has been due to the fact that I have been “bending the rules” in order to take more trades. This is also, in itself, a valuable learning exercise. “Discipline” is key!

    I am all for trying to gather the former Fxkeys guys together into another forum of some kind. So I am happy to hear about this connection here. Let’s hope we can manage to salvage the “good things” from this mess.

    I would like to add that these insulting comments posted by several critics and supporters to only contribute to the bad taste that the mention of Forex Trading leaves in many people’s mouths. I would be inclined to put some credibility to people who put forward logical arguments without resorting to insults and name-calling. All that stuff is very off-putting, and of extremely limited value. I hope we can keep future communications of this kind on a professional footing, and, more importantly, with a sincere intent to assist all members of the trading community, especially the newbies.

    Best wishes

    Graham

    Reply
  12. basharat javed

    Hi, sabastion
    genesis is right .we should get together on some other forum.

    Reply
  13. Mark

    FxKeys website has been removed from the internet so FxKeys performance analysis won’t be continued, it is going without saying.

    Hi Vahid,
    I hope you will come back one day as Vahid Chaychi, the best trader I have ever met. It’s over to you.
    Best regards

    Reply
  14. Tom

    It is with sorrow that I find fxkeys has gone off the air.
    After downloading a few articles for study purposes, the process became addictive.
    After Anglicising Chris’ English, reformatting much of the prose, highlighting salient points and adding comments of my own in a blue text colour, I formed quite an extensive library of his ideas.
    The spread of so many different topics led to my having numerous files on different aspects.
    I am now ruing the fact that I didn’t download more articles on salient ideas.
    The comments under articles provided numerous gems, which would be cut/pasted to the relevant file, while irrelevant “Thanks” etc would be deleted.
    Despite the negative comments of some critics and name-callers, whom I suspect have not been successful in their own FX endevours, nobody has had anything intelligent to say about perceived errors in the system proposed on the fxkeys website. “Methink he doth protest too much!!!”
    What scammer would dedicate so many hours to writing well-researched, detailed and time-relevant articles, without ever asking for any recompense than the appreciation of those whom he was helping – and he has helped so many people, by inspiring them to get off the ‘victim’ list and get the self confidence to ‘have a go!!!’
    Fxkeys will be sorely missed by so many, as is obvious from comments on this site – Thanks must go to JL for allowing us to use this site to vent our sorrow over the loss of our lifeline. I was directed here, when looking for a reason for the absence of the fxkeys website.
    One of you tech-savvy youngsters must set up a site dedicated to promoting the simple trading system and providing a forum site for mutual self-help, where old fxkeys articles can be posted once again from our individual archives. I’m sure I’m not the only one who studied and annotated the articles. Since the origin would be credited and since it is for ‘educational and review purposes’, it would probably be ethical & legal. I’m sure Chris would have no objections. In fact, he would probably be flattered to know that he is missed.
    Personally, I cannot understand how such a wealth of educational material has been allowed to disappear.
    What has happened to Kamel, Salmaan, Peter Wagner, Michael etc???

    Reply
    1. Linz

      You would have to check out copyright issues on articles before you publish anything, a lot of his writings were not all his apparently, like Peter Wagner’s compilation. Peter was an independent contributor while I believe Kamel was a “trading buddy”. Don’t know if he was part of a team or an individual but there certainly was a lot of sincere people on the site and Chris put in a lot of time and always was very polite to me and always replied to my queries. Like a family which has it’s emotional connections and therefore it’s vulnerabilities. Because Chris never had an identity but rather an avatar was a problem for me because he could have solved that although a photo, still is not guarantee of real ID., video would be simpler. Also the site had no address, but like you do in a court of law people are always innocent until proven guilty and he may have had reasons unknown to me so that’s the position I took. And I didn’t like damning him and using him at the same time. The analysis and articles were always interesting and an easy read. Most people would have downloaded the 5 Easy Steps, so perhaps that’s all you need. The FB page which I did not know about says the site will be back, so time will tell but other than that there was no communication or announcements of any kind on his site, not even a goodbye which was disconcerting if it now is final. Thanks to JL also for providing the website for discussion and never deleting any posts and a few did not like JL too! Very important to have checks and balances. Cheers to all.

      Reply
  15. Chip Rivers

    I am guessing that Chris is in Jail. It’s a just a guess. I used to work for a gut that was perhaps like Chris. He thought he was brilliant, when in actual fact he just used to rip people off. He eventually ripped off the wrong people. They apparently cut off his head and he was found headless in a dumpster. True story!
    Either way if he goes around ripping people off, then he is going to make people angry. They will find him him and get the law onto him or administer their own version of it on him. Either way ripping people off is a very dumb idea and why most people don’t do it. You might get temporary gratification but the pain you get down the track will be alot worse and last a whole lot longer.
    Sad. I tested one of his systems and it was profitable

    Reply
    1. Linz

      You have links? If not then that’s just presumption and a sensational story. There are no facts of and no rip off or injured parties that I know of. Just a mystery and am happy to leave it there.

      Reply
  16. Sohai

    Now the fxkeys changed name to luckscout… Weird.

    Reply
  17. Henry Grayson

    Lucky they included the second “c” in “luckscout” :)

    Reply
  18. Mark

    luckscout.com (fxkeys.com)
    (…)We are a team of forex and stock traders who have been working with each other for years. We have regular meetings and are in touch through the Internet to share our knowledge, experience, and also the trade setups we locate. LuckScout was created by me, Chris Pottorff(…)

    forexoma.com
    (…)Forexoma.com was originally established by Vahid … Through professional collaboration he was joined by some of his trading buddies and together they helped him achieve this goal. Like many individual traders, all of them wanted to have their own brokerage service for their own trades, and at the same time, a reliable brokerage service for everybody (…)

    “WARNING: Forexoma Runs Away With Customer Funds

    Friday, August 23, 2013 10:28 am

    Forexoma, an online forex training and trading company seems to have disappeared into oblivion, along with exorbitant amounts of Customer Funds.

    At this very moment, efforts are being made to establish a contact with the ownership of Forexoma, however from the looks of it, chances are high that customers may never see a dime of their hard earned money – but then they say – Never Say Never. We at National Forex surely hope this to be true.

    National Forex News Desk team tried to load the Forexoma.com website, but not to our surprise, we found that the entire content of the website has been removed with little chance of customers accessing their online information”

    Reply
  19. Christopher

    No you’ve got it all wrong. Chris Porttoff is actually Bill Gates. And because I said so you have to believe me that it’s true. Bill Gates owns Forexoma. I can’t actually show you and legal document from a governing body proving that but I swear it’s true. Just look at all these articles that Chris Porttorff wrote on Fxkeys, they are exactly the same as these other articles that Bill Gates name is on. So you see it must be true. And beware of Luckscout because for the last couple of years they have been peddling money from new traders and selling courses, training, signals and even recommending brokers where they get referral fees from. It’s true, oh hang on, oops I got that one wrong. None of the above have actually happened but let’s keep accusing them and talking about them as if they do do that :)

    Reply
  20. Christopher

    http://www.luckscout.com/forums/topic/perseverance-and/page/27/#post-70043

    This guy has a couple of threads and has posted several myfcbook accounts showing a 1-2% profit everyday for a couple of months. He’s trying to discredit lucks out in his threads in hope people there will let him trade there money.

    Firstly, if he can consistently make 1-2% a day trading the 1 min chart then he doesn’t need anyone’s money because he will be a billionaire shortly ?

    Secondly, he’s a scammer and is trying to manipulate newbies on luckscout and simply there is a lot that he claims that just doesn’t add up, let alone the fact that myfcbook can’t be trusted anyway, that’s a whole other scam on its own, particularly with his broker oanda.

    He claims he trades like floor traders (fx)that work for banks. Well there are no fx floor traders mark, because there is no floor in forex. Also he goes on about 1500 floor traders that citibank(might of said another bank), well once again, no floor traders. They might have 1500 people taking currency orders, because they are a bank but that’s different from trading for profit.

    Anyway I thought I’d better bring this up somewhere so all the luckscout people reading this, have some common sense, don’t be fooled by the prospect of riches

    Reply
  21. mofviop

    Hello could someone explain for me why fx keys is a scam? the article doesnt make any sense to me.

    Reply
    1. JLTrader Post author

      It’s a scam because the guy(s) behind it use a fake name and pretend to be what they are not. Moreover Chris aka Vahid blatantly BS his readers (see the 2 articles I wrote). He also has a history of scamming (in the truest sense of the word) people, google forexoma broker

      That’s anybody’s guess. Once you gather a large enough following of gullible people, there are many ways to fleece them.

      Reply
  22. mofviop

    Thank you for answering that quick.
    Maybe forexoma was a scam as the reviews says but still, what do you think he is up to?
    He is giving knowledge for free. What could possibly go wrong? Have you noticed any flaw in the trading system he uses?

    Reply
    1. JLTrader Post author

      No, he writes some text on a website for free, that’s what he does. What can possibly go wrong when you learn something from a fraudulent, zero credibility source? You tell me.

      Reply
      1. Christopher

        I don’t agree that he is fraudulent. He hasn’t yet ripped off anyone as far as I know. I’m not saying he is honest either, I’m just saying it’s still speculation at the moment.

        Having said all of that, to answer your question movfiop,

        The harm comes from new traders getting unrealistic expectations. Besides the forum where it’s the blind leading the blind, the major issue with the site and some of those free articles is that there is no information on the success rates of real traders, both professional and retail. This is what gives the reader an unrealistic expectation of trading. One of the articles in mind mentions one of his students who turned $5000 into $45000 in 40-50 days in a demo account. Whether or not this statement provided in the article is true or not is irrelevant. The real issue is that’s not real trading and those kinds of results don’t happen to most, if not all professional traders. The whole idea of been 70% accurate (which is also mentioned) just adds to the misconception. If read about any professional trader, both past and present, they almost always fit in the 40-60% range. And on a side note, you can have a low success rate and still make lots more than someone who has a much higher rate of success. Most people on that site think they can make a million in a year or less from 1-5000. Although possible history has proven time and time again that it never really happens. My own trading strat yields about 40% success rate and I can go as low as 25% before I end up in the red (statistically, not talking about draw downs) and yet I’m still doing quite alright, making money slowly but surly.

        Anyways hope this helps

        Reply
  23. Christopher

    Well it’s pretty much official now. Luckscout has become what was predicted, and I had hoped so much it wouldn’t.

    http://www.luckscout.com/luckscout-millionaires-club/

    This program is meant to be getting launched and explained shortly. I don’t know what it’s about but there are some obvious red flags like $99 per month, join and become a millionaire :) etc etc.

    Such a shame, I learnt a lot from the early days of that site.

    Reply
    1. Medasculo

      Yet there are still suckers that believe in Chris/Vashid. I guess that if one sooo naive and stupid as to not see the obvious, it’s better to lose your money on the scam and learn from that. Some people need to learn the hard way.

      Reply
  24. Christopher

    http://www.luckscout.com/time-to-take-big-steps-are-you-ready/

    Just an update. Lot of people are blindly signing up and those who are asking the right questions are getting the ring a round with answers.

    No track record, no indication as to what you will actually get for the money you spend, a lot of talk about a program but that means nothing. Even the other scammers out there give more detail as to what you’re purchasing.

    ‘ Soros is worth 24 billion, does that mean he should do everything for free and not be paid for his services?’… Well no Chris he should be paid for his services but he also has a track record and you don’t!

    Are the lies! So many honest people getting shafted, such a shame.

    Oh yeah one more thing. Apparently the fees are to pay all the support staff/ mentors and tech for the program and to promote the program. Now according to google and Chris,luck scout has around 20000 followers, so if 1000 of them join the program at $99 per month, that’s $100k a month or 1.2 million a year revenue. That’s a lot of support staff lol

    Reply
  25. Alper

    Hi jl trader , I think , you have to open a new topic on google like” fxkeys ruining your trade account ” luck scout ruining your trading account.

    Because when anybody search that fraud website on the net , he should see similar connection in search results ” luckscout a fraud website ” like fxkeys And find an opportunity to read realities about luckscout

    So I think main reason to change website name from fxkeys to luckscout is make a barrier for new members to see warnings about that fraud website ….

    Reply
  26. Mark

    “Who Is Behind LuckScout Millionaires Club?
    As I have explained here, we are a big team of successful traders, investors, businesspersons and entrepreneurs who many of them love to share their experiences with people who are interested”.

    Hey The LuckScout People! Are you sure? Are you a big team of successful traders…? Aren’t you and your boss Vahid Chaychi money suckers and forex scams? What about Forexoma? Tell us the truth? Are you a real men or cowards?

    Reply
  27. Sohai

    Luckscout aka fxkeys is still very active nowadays. What is the millionaires club member about?

    Anyone who joins can share about it?

    Reply
  28. J.C

    I posted here back in December 2014 in regards to being absolutely convinced that this so called chris portoff -operating at fxkeys- was actually that idiot scammer (who thinks himself smarter than everybody else) VAHID CHAYCHI. Glad that it looks like now everybody is onboard with the truth. This fraud deserves to be exposed for who he is so as to never again be allowed to use the internet to scam and rob people of their hard earned money. Ah.. and one more thing… Vahid, if you’re reading this, sorry pal… it looks like you’re not that smart after all, in fact you’re also a failure at being a criminal.

    Reply
  29. Linz

    “Hi all,

    We regret to say that LuckScout Forums will be retired and closed in 1 week.

    We are sorry about this, but this forum always makes technical problems that affect all the other parts of the site and users.

    Thank you for your understanding. ”
    2017.05.18

    Sadly it looks like the days of open discussion and trader interaction have gone…. perhaps seeking a more controlled environment.
    Furthermore any new forex technical posts are really old posts. I have seen contributions I have made a couple of years ago in the feedbacks looking as if it is current discussion. Of course new participants would not know this because the dates are removed. Generally FXKeys have morphed into a business advice club boasting 20,000+ readers, and has a subscription price, completely contrary to the old promises of FXKeys. While the new advice may or may not be useful, the sensational promises of how one can make millions by joining the “Millionaires Club” look suspect to me. I gave FXKeys/Luckscout the benefit of the doubt for a long time but can no longer.

    Reply
  30. Chop sticks

    Hi Linz. I agree with you. They closed it most probably because people would comment bad things as they have realized that this was lies.

    Personally I would advice everyone to STAY AWAY from millionaire club and DT program.

    This DT program (affiliate marketing by joining a company) is not worth it, total scam. It’s brainwashing. It’s ripping off people’s hard earned money very easily. Many people have lost thousands of dollars which is so sad. You can easily find reviews about this if you google it.

    Everyone who reads this please take my advice. DONT JOIN. SAVE YOUR MONEY. THERE ARE BETTER THINGS IN LIFE. Sorry for uppercase letters, it’s important to highlight this.

    I knew from the very beginning that there is something wrong, I knew something like this would happen and now it’s really happening. Hey JLTrader you are right when you say “we have a scam in the making”

    Anyone who wants to get rich quick, there is no souch a thing. Hard work is the way. If you want easy money in a honest way you can start a business the traditional way AND grow it, you just need to do what is necessary and the beginning is hard but not impossible. When it comes to forex I have no idea, it might work but I am not experienced.

    Some people might not believe this and are thinking like “why would luckscout have so much good knowledge and be a scam at the same time”. Well, the best way to deceive someone is to win his trust. Luckscout reveals good information about the forex world including some “secrets”. And their way of writing is very special and almost innocent. All this makes the reader feel trust. That’s when the game of deception begin, which means whatever they say later on, the reader who trusts luckscout would easily believe a lot of stuff they say, including giving away their money.
    On the internet there is a lot of liers. Remember, when someone makes you feel trust, think again. And never ever give away your money or personal details.

    Reply
  31. Alps164

    Part 1

    There are serious doubts about the allegation that Forexoma took clients’ money.

    I do not know Mr. Chaychi, have never met him; just someone who likes to remain objective and not blindly follow anyone’s narrative.

    All I could find on the Internet about the case were four complaints on forexpeacearmy.com, all claiming to have lost money to Forexoma. Why only 4?

    1. Is it possible Forexoma had only four clients at the time when it ceased operation? One would think all clients were affected and they would have tried to locate others in the same boat and would have joined the four. Where are the other customers? How did it happen that everyone else received their money back but not these four?

    2. There was no record that I could find of any law enforcement or regulatory action against Forexoma or any of its principals, nor of any hearing on the matter.

    And none of the victims ever told his or her own story with details on what was done afterward to try to recover the money – nothing in social media. Had they ever contacted any Canadian authorities (could be as simple as writing a letter, even just making a phone call)? If not, why not? Had they tried filing a claim in a small-claims court?

    It seems they were only interested in spreading the news (or rumor) of a scam in the traders’ community through a traders’ website, not in getting their money back. I can’t imagine none of the Canadian authorities would do something if they were alerted of the situation.

    3. Given the above, how can we be sure the claims made on forexpeacearmy were genuine with real victims behind them? These days, it is a fact that anyone can claim to be anyone and post anything they want almost with impunity in cyberspace.

    But let’s assume for a moment these claims are truthful. One claimant had a few hundred dollars in the account, another claimant had several open positions (These could be from the same complaint and I can’t remember.) Now, if the open positions were winners, the complaint would surely have trumpeted that fact; so it is almost certain the open positions resulted in a net loss, reducing the equity in the account. Bottom line is, when we add up the equities in all 4 accounts, it could only be a very moderate sum, hardly enough motivation even for the most unambitious scammer.

    4. Meanwhile Mr. Chaychi appears to be very active with his name all over the Internet – he is definitely not in hiding. Why is he not even concerned that the authorities might be going after him? After all, he is in Canada, not in, say, Macedonia. Even if Forexoma was not a registered brokerage, the police could still go after him for racketeering and theft, if indeed money had been stolen, as people here are so quick to assert.

    Mr. Chaychi is being called a scammer and a criminal here. If that is not defamation, I don’t know what is. When and where, pray tell, was Mr. Chaychi ever tried and convicted in a court of law where both plaintiff and defendant have to prove their case, and where plaintiff’s own statement on the Internet is not admissible as evidence?

    I have my own theory of what really happened. Forexoma might have closed after only a short notice to its clients. Not surprisingly, there were people who missed the deadline and had their trades closed involuntarily, likely large losing trades, and they were not happy. It is also possible some clients had lost big portions of their accounts or even all their money trading in the markets. Some of them simply chose to blame the losses on the broker, claiming the broker took their money, which was easy to do when the broker was no more.

    People can make up their own minds, but I’m not convinced there was any wrongdoing involved, which explains why Mr. Chaychi apparently didn’t deign to respond to forexpeacearmy’s inquiry knowing the claims were bogus. Moreover, dissolving a business is never a simple and easy matter and I can understand why those involved had chosen not to comment, especially when no one was obligated to talk to a rep from a website.

    Unfortunately, Mr. Chaychi’s reticence had allowed people who had an axe to grind to really run with it. Chief among them were those who had been banned from his sites or had their comments removed and they were resentful. These days, people are easily offended and some will go to great length to exact their revenge for the pettiest of reasons.

    Frankly, it is hard to imagine how a truly disinterested person (a bystander) could have such strong hatred as exhibited by some posters here toward someone who has been providing valuable information for new and experienced forex traders alike, and even for non-traders, through his site everyday. We certainly didn’t hear such level of vitriol even from the ‘victims’ of the alleged scam. By the way, has anyone noticed the ‘victims’ had all but vanished?

    Some posters here believe Mr. Pottorff of Luckscout.com should confirm for us his identity, otherwise it is somehow dishonest. If they truly believe that, then they are overlooking the obvious: they should be clamoring for the owner of this very site to reveal who he or she is (I believe it’s a ‘he’).

    After all, for an attack site like this, how can we be sure the person behind it is not an old enemy of his target, especially since the reason given for creating the site is tenuous – no wrongdoing, just something he allegedly didn’t like, but enough for him to claim fxkeys and luckscout will ruin people’s accounts.

    How strange considering the fact that businesses everywhere are making outrageous and patently false claims everyday in order to sell products.

    To the site owner:

    1. Something that is impossible for you could be perfectly possible for someone who is more capable than you. In fact, a successful and ambitious trader will tell you the return figure Mr. Pottorff posted is pretty conservative. Rate of return to a large extent depends on position size, and a consistently profitable trader can simply adjust the position size to achieve any desired rate of return. The relationship is not linear because of other variables but that’s the general idea.

    2. The removed comment that started all this clearly shows you were not looking for answers or any intelligent response; you were looking for it to be removed – that’s right, the whole thing is nothing but a ruse.

    You made your comment so nasty it would have been removed on any decent site, since it would lower the standard for everyone. Then you took a screen shot right after posting it fully expecting it to be removed; and when it did happen, you feigned offended, when in fact it was the plan all along, and you got what you thought you needed to launch your little dark site.

    Anyone with an average IQ and who is truly objective would have reached the same conclusion.

    Reply
  32. Alps164

    Part 2

    Here are some thoughts on some of the other criticisms of Luckscout.com that I saw here.

    Since when is it a wrongdoing for a free site to start charging? We always have the option of going elsewhere if we don’t like it, but we are not entitled to anything for free on any site.

    Then people are not happy about having to read old articles. The reality is, even a very successful trader cannot come up with new material everyday for years on end, unless daily market analysis is considered new material. Moreover, since forex strategies are not time-sensitive, and new traders are coming into the market everyday, posting select past articles from time to time could be a welcome thing for them, in addition to being a necessity as just explained.

    If only people are more appreciative of the fact that even updating and posting old articles requires time and effort from someone, they would not be so quick to complain when they aren’t being served new articles everyday. Again, nobody owes us anything unless we paid for it.

    Someone would need to elaborate what exactly is the problem with old comments appearing in recently posted articles. After all, forex topics are timeless and all comments could prove edifying for the readers based on their contents alone, regardless of date posted. I agree the dates should stay for the sake of completeness, but if that’s the decision of the site owner, I respect it and it’s easy for me to do, since I really can’t see any problem as a result of it. But if anyone disagrees, he/she could take it up directly with the site, keeping in mind it is the owner’s prerogative to organize the site however he sees fit.

    The forums might have been discontinued due to the simplest business reason of low participation, and therefore not worth the effort. Why is it even news?

    Luckscout is clearly not just a forex site anymore like fxkeys was. Changing its name is completely appropriate and it occurred right as fxkeys emerged from a hiatus, during which presumably much preparation and reorganization took place – so even the timing of the name change is logical and unassailable.

    Of course, it is to be expected that everything about Luckscout.com is fair game here; but the attacks will be much more effective if they are not all based on innuendoes and nothing else.

    Bottom line: want a perfect site with everything you want? Build your own.

    Oh, and people don’t like the fact that luckscout is touting how much money people can make through its program. First, I have no doubt the people featured are real and are indeed making the kind of money they claim, since there are very successful people in any field of endeavor. They prove how even ordinary people can become rich.

    Second, there is absolutely nothing wrong with using the examples of the very successful to motivate others. Just like there are bloggers who make massive amounts of money while the majority have to make do with only a moderate sum every month. But they are all happy or they wouldn’t be doing what they do.

    If anyone joins the program thinking everyone will be able to make that kind of money, then I seriously doubt his/her ability to function in the real world, and they could do much worse than join the program.

    Reply
  33. Alps164

    Part 3

    So, one poster here is telling everyone not to join the DT program. If the DT program is indeed affiliate marketing program as stated, then I have to assume the poster joined the program at one point and learned all the details.

    I was really expecting to read a juicy exposé on some dark side of affiliate marketing, or something suspicious about luckscout’s program, or how luckscout refused to issue a refund, etc., etc.

    No such luck, there’s just the poster’s passionate rant telling everyone not to join. Of course, intelligent argument is not needed on a hate site, where the objective is simply to sabotage and take out the enemy.

    People here accuse luckscout’s owner of thinking he is smarter than everyone else (the accusation was actually dripping with jealousy, if anyone else also noticed), but they are demonstrating they themselves are exactly that – thinking they are smarter than everyone else that they can simply tell others what to do.

    How about letting people see for themselves and decide for themselves, just like the poster himself had apparently done?

    It is clear the same people who are trashing Luckscout.com and calling its owner the worst names possible are still on its mailing list following the site closely. Obviously, nobody wants to miss out on potential profitable forex strategies and money-making opportunities. These people are acknowledging with their actions that they are finding value on luckscout.com, but they don’t have the decency and the honesty to at least refrain from badmouthing the site.

    The very people who are telling others not to join could be working the DT program themselves right at this moment, who knows?

    The dark side of human nature in various forms of manifestation are on full display right here on this site.

    People can remain anonymous and hide behind their screens while they attack without proof and with abandon, at the same time while they exploit everything luckscout.com has to offer, but they cannot run from the law of nature: you always reap what you sow, count on it.

    Reply
    1. Linz

      I agree that it is bad form to bad mouth a site anonymously and still belong to it to obtain benefits. I pointed this out previously as hypocritical. I expressed my opinion using the same name as I did on FXKeys site so they could ban me if they wished. Pottorff didn’t like people contributing to this site as it brought readership to an antagonist so even if I defended him which I did, I risked being banned. I defended FXKeys for a long time as innocent before guilty as I had heard of no one being hurt.
      Currently I have no desire to join Luckscout or recommend others to stay away. I never lost money through FXKeys. I was a bit dubious of the intentions of the previous site because of the anonymity. No address , no faces to names only an avatar and no real voices but robot voiceovers on his videos. That does not mean he is fake but it would be encouraging to look more transparent. I have no problem if they ask for a fee as do others. It was on his previous site he promised he would never charge a cent but that changed. I always defended his right to do whatever he liked on his own website when there was no charge. But he certainly got discouraged when his idea of advertizing being a method of funding member’s real accounts never got off the ground. Then he just disappeared without notice leaving a lot of newbies (and oldies) who treated him like god and who were utterly dependent of his trading guidance, high and dry. People wondered if he was sick or had even died.
      I agree that JLTrader’s criticism on his site initially was a bit aggressive and said so at the time. So I was not surprised when his posts were taken down. However his were not the only posts removed. One thing in JLTrader’s favour is I have never seen a post removed. Of course I don’t know if it is his real picture, but at least there is one. If you want transparency then you have to present interactive videos and skype such as Jarratt Davis does to know you are dealing with a real person. Even then there are people that think he also is a shark. Anyway since you have mostly levelled your criticism at JL then I will let him speak for himself if he so wishes. As for Forexoma, I don’t know anything about.

      Reply
  34. Linz

    In a FB posting of 2 days ago Luckscout says:

    “You can’t become a millionaire through growing a $500 or even $10,000 trading account. This is what the retail brokers don’t let you do. Above all, the profit you will make with a small account (if you are a consistently profitable trader), is not enough to make you wealthy.
    Therefore, if you think you can learn how to trade, and then become wealthy by growing a small trading account, you are wrong. You can’t even make a living that way, let alone getting wealthy.
    Therefore, you have to choose a different wealth building strategy.”

    This is a contradiction to all the technical guidance provided for a couple of years to the family of hopefuls whereby we would be on our way if we followed FXKeys (Luckscout) and followed ” the right track.” Forex trading seems to be a minor emphasis now being superseded by other schemes whereby we will be rewarded with gold, diamond rings, cars, boats and houses provided free as rewards for following their programs and reaching certain income levels. Many videos of winners showing their spoils, not actors they say. Must be they’ve found the Holy Grail !

    Reply

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