Paymark Autotrader

Rupert Pumpkin

If you are looking at investment websites you will likely see pop-up ads for a guaranteed passive income automated Forex trading system, now operating in Ireland. For an initial upfront investment it promises monthly returns based on a sophisticated automatic currency trading platform. Should be treated with extreme caution, and do some research on the individuals behind it.
http://www.nakedcapitalism.com/2013/12/new-zealands-latest-dodgy-export-why-fx-investors-should-be-wary-of-software-sold-by-irish-company-paymark-autotrader.html

Cute Hoor

Hmmm, had a look at the website, went into the F&Q (not sure what F&Q stands for) tab, the first line is pretty comforting, 'the only process required is to transfer 80% of closed profits at the end of each month', what's there not to like about that, you don't have to be capable of doing anything except for transferring your profits out every month. In the next paragraph of the F&Q's they state that they are 'using high speed intent links' which should provide all the reassurance one needs.

They have a pretty impressive business address to be fair and I'd be pretty confident that the regulatory authorities here are totally satisfied with their operations (the banks and CRC history should reassure us on this) so I'm in tomorrow to set up my account.

martyoo

So they have rebranded their software from Oak FX to Paymark Autotrader and are selling it from Ireland instead of NZ. Seems legit.

Although the system only makes small profits on each trade – the ability to trade many times in a day produces a high closed daily profit in relation to initial investment

Oh I see. High Frequency Trading.

So is this just another FX bot or is it a ponzi scheme in the making? Maybe Rupert will be along later to explain.