Karloz's hyip blog

My Experiences with High Yield Investment opportunities

Tuesday, August 08, 2006

Ibiza Traders - addition

As you can see I recieved a comment on my last update regarding Ibiza traders. The person informed me about some comments from Jude from nobshyip after he verified the Ibiza Traders trading account. The basic issue that hits me in the face is the fact that the trading account has been verified but there is little trading activity to verify. This offers very little when trying to assess the trading risk or even if indeed the program is going to be backed by forex trading. I could open an account with a forex broker, stick $50k into it then make a couple of trades, anybody could do it. It seems the proof of trading we have at the moment for Ibiza Traders is worthless. At this point in time there is little evidence to suggest that Ibiza Traders is anything other than just another fraudulent ponzi and I beleive it should be treated as such. If Clifton/nobs are allowed to audit the account at regular intervals to assess the quality of the trading and the level of risk the trading involves we could perhaps make a different analysis. I will probably contact the admin in the future and try and some my own DD on the trading, if it indeed there is anything to see. I just thought I should write this to warn others who may have got a good feeling from the article I wrote yesterday. We have nothing really to suggest it is anything more than a ponzi, yet. Thank you to the person who brought this to my attention, I won't mention who you are as you left the message anonymously.

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