Anyone heard of Forex Briefcase? What are your thoughts? Are they legit?

Forex Briefcase (https://www.forexbriefcase.com/) is a Managed Forex Fund Investment Company. It's currently under Jin Tao (https://www.facebook.com/jindao.tai) who seems to own a MAS representative license (https://i.imgur.com/EhMiALN.png) TJD300169729.

As seen on their website, they offer "conservative" gains between 1 - 3% with overall good performance and a 3:7 profit sharing. Lockdown period of 1 year and withdrawable profits.

Brokage under SAMTRADE FX (https://www.samtradefx.com/)

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Lawrence Tay

20 May 2024

This is a open fraud. I saw the profile of this man. I invested and lose SGD 3800. Don't believe

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Samuel Yip

21 Mar 2022

Just posting as I have had tried out their echofin group.

They go by different names (LCMs trader for their Echofin group and Forex Briefcase for their MAM service). I had got to know of Forex Briefcase from their Echofin group. It would seem enticing to join FXBriefcase as the LCMS trader team would also show the results at the start of the daily currency call session.

FxBriefcase had utilised the Samtrade platform for their Managed Account services. that is, you would set up an account under Samtrade with your funds and they would link it to their managed account services. However, I am pretty sure the traders get kickbacks from the broker by doing this. Could be that the team gets commissions from placing trades using your money. And then, also taking a share of profits from you. Now that Samtrade is under MAS' investigations, investors have had their funds frozen with this broker.

They had pretty good content pushed out in the daily currency call. For example, the team would explain what the new dot plot means for the DXY currency pairs. This is a daily call summarising the economic news of the previous day. But i just thought there is more going on behind the scenes.

Else, they wouldnt be advocating Samtrade when there other MAS regulated brokers around (like OANDA, IG, SAXO).

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