Kevin James Forex - fraud?

Kevin James Forex Signals and PAMM Accounts… Are they a fraud?

There seems to be a lot of discussions going on right now on Facebook about Kevin James Forex signals. The rumors says that PAMM accounts have been completely destroyed in 2 days, signals have not been given for weeks and people have lost everything they invested. Now I want to see the entire picture and discuss Kevin James Forex Signals and PAMM Accounts.. Are they a fraud?

My first impression of Kevin James as a Forex Trader

I wrote two articles not too long ago when this website first opened about Kevin James signal services.  So what is this all about? This Forex Trader provides Forex signals through Telegram on a daily basis. They cost $100/month and going on what others were reporting as amazing successes and their accounts growing, I had decided to also take these signals.  After a couple of months my account was reaping in pips and money and as a result I wrote two articles to tell people how wonderful his service was.

Unlike other signal providers, Kevin James also provided his notes and videos on how to trade like this yourself using volume trading.  He was to provide the COT report part of the training in due course.  So far, this COT report trading has not happened. Kevin posted a client trading sheet of  “YK who was trading exactly as Kevin instructed and made huge gains”.  When trying to access this page now, you get a page stating “the account you are trying to access was removed or does not exist.”

Kevin James Forex - fraud?

Kevin James brings up his personal situation – will this affect his trading?

What has happened after enjoying monthly profits, which I became comfortable with, is the end of the month of June/July/August and with it the promise of profits, which I was relishing after coming from another Forex copier with huge losses the previous year.  The signals came out and I placed the trades.  On June 29th we received a message from Kevin via the Telegram messenger that his wife was in the hospital and he needed our prayers.  This was her first pregnancy and she was having difficulty.

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July 3, 4 & 5 we continued to receive signals and instructions regarding the market.  July 6th we received more signals and a picture of the emergency room that Kevin and his wife were in.  Through facebook messenger Kevin explained what was wrong with his wife, what the doctors were doing and we discussed the pregnancy problems right up until August 1 where we all received a pic of the baby.

He would ask me how my mother was doing, how I was doing. In one message he asked if anything was wrong I did not seem like myself … There was a concerted effort and concern to talk to a client that he knew would never be able to invest in his PAMM account. Life was good after all I surmised.

Kevin James – or what is his real name?

On July 7th, Kevin reported that his wife was doing better and thanked us for our prayers and that his PAMM account was in profit reporting a 4% gain in it.  Kevin went on to post his “Rules for Trading” which is also posted as a pinned message at the top of the Telegram Messenger account and his email and bitcoin address for members to submit their payment to.

When I send payment via Skrill to Kevin the address shows a “Sajid Ahmed” as the recipient. Am I surprised at the name difference?  No.  Many facebook people who have “Anglo” names I find are actually Middle Eastern, or East Indian, a few Chinese as they feel they do not experience discrimination this way and feel people relate to them better.  It is becoming more common, however it was not hard to determine Kevin was “Middle Eastern” of some sort as through his writing as his accent came through.

Still hoping that the Forex trades will be profitable…

We received signals, encouragement, market break down throughout this period.  On July 20th, Kevin advised us to “buy” dollar pairs.  Buy eur usd, gpb usd, nzd usd, aud usd .. in other words there was going to be dollar weakness and for us to start scalping but also advising us to “trade with less risk so your trading may not give you stress”.  I had been doing this all along to attempt to grow my account with some success.  I was trading at a smaller lot size than I would have normally and scalped along the way using Kevin’s trades for direction.

He posted the results of his PAMM account and asked us to go to his facebook page and give him a 5 star rating.  July 22nd he posted his PAMM account again and actively asked if anyone was joining his PAMM account, now was the time to do so. July 23rd Kevin posted that it was time to “join the dollar sell party again” … add more trades of USD sell positions. July 25th, more postings of the PAMM account and encouragement to hold all accounts as they are longer term trades and scalp on your own. July 25th, Kevin posts that “the dollar analysis is playing as predicted. Hopefully it will break the last week low with strong candle with high volume to confirm long term bearish trend.”

“Keep the trades until they hit target or stop losses”

August 1st Kevin post “By the grace of God I am blessed with a baby boy!” and a picture of a beautiful sleeping baby.  August 5th Kevin advises that he has been in the hospital as his wife had complications and had to undergo major surgery which went well and she has now been discharged from the hospital.

He states he was unable to watch the market all week, however to hold all trades until they either hit target or stop losses.  He was confident in his analysis and that we always hold trades until they hit target. On August 7 we received one signal to buy Silver.  On August 8th we received a message that he was busy with his wife, baby and guests.  He would return on Monday and one signal to buy GBP CHF which stopped out later that same day.

Kevin James Forex signals – not a one man show?

On August 13th we received a message via Telegram from Kevin that he had returned to work and was surprised to see the PAMM account in such bad shape.  He went on to explain that he had left the account to another team member to look after for him while he was home attending to his new family and returned to find this team member had placed 30 trades on the nzd usd without stop losses.

He had let the account run without hedging or taking small losses.  Kevin explained that he had traded this account himself for the past 40 days with mini and micro lots and had gained 21 % with a 1.5% drawdown.  In one day this team member had not only destroyed the PAMM account but he also had destroyed Kevin’s reputation as well as doing similar damage to another large account Kevin was also trading. Kevin states his money is also gone as he is required to fund the PAMM account with his own money and he posted his accounts showing huge losses.

He points out that many investors were happy with his signals over the last 6 months and vows he will replenish the accounts of the investors first through trading without performance fees being applied.  He also reports that someone has reported his facebook account as fake and therefore is unable to access it.  He provides an email where he can be reached.  I sent an email today, August 13rth and at the time of writing have not received a reply back as of yet.  I am sure with the amount of damage Kevin reports it will take him awhile to repair all of this.

No transparency in Kevin James forex signals

Many investors are still skeptical of Kevin’s rendition of what happened.  They have gone from asking how can you leave an inexperienced person to trade our accounts to flat out calling him a fraud.  They point out that there has not been transparency from the beginning.

It is more than apparent that Kevin James is not his real name, however at no time until the very last post of explaining what happened to the PAMM account, was it disclosed that there was a team of people rather than Kevin himself although it appears Kevin traded the accounts up until Aug 9 or 10th when he asked this team member to take over for him until Monday, Aug 13th.  One potential investor states he knew the CPA/VSA/VPA system that Kevin uses is sound, however he did not like the evasiveness and inability of Kevin to answer his questions on loss mitigation with the PAMM account and this was enough for him to decide not to invest in PAMM.

As others point out, no one really cared in the beginning as many had come from a severe bruising from another copier and were just plain hungry to have something replace some of what they had lost there. As long as the pips were rolling in, no one really cared too much about transparency.

Below we have taken a screenshot of Kevin James Forex Results that he posted on Facebook on July 7.

Kevin James Forex Results

How does a PAMM Account work?

Here is a short description of what a PAMM Account really is:

Percentage allocation management module, also known as percentage allocation money management or PAMM, is a form of pooled money forex trading. An investor gets to allocate his or her money in desired proportion to the qualified trader(s)/money manager(s) of his or her choice. These traders/managers may manage multiple forex trading accounts using their own capital and such pooled moneys, with an aim to generate profits.

Source: Investopedia


As one investor who phoned Swiss Market himself states “You can’t steal money from a pamm account. Especially one that is regulated. The money is only available to the account holders and payable by the same method in which it is deposited. I talked to Swiss market yesterday not disclosing why I was asking. It is pretty difficult to open a pamm account.

Not only do you have to trade your own money by depositing in the account you have to submit your trading strategy for review for approval. The process takes more then a month.”  However, as another investor points out, you can trade against the PAMM account which would take several groups, sacrificing one group against the other until in the end all the groups have lost money to the manipulator. This would require a broker who is part of the fraud to accomplish the final result.

kevin james forex pamm account

In this infographic example, there are four investors each with a different amount of risk capital that choose the same money manager. The money manager trades the entire capital, $100,000 total, on one master account (the money manager can only trade the accounts; no access to the investor’s funds is permitted to withdraw any money).

The money manager then makes a profit of $12,500, and because in this example the commission fee is 20% that equals to $2,500 in commissions for the money manager. This leaves $110,000 in the master account. The $10,000 profit made will now be credited back to the investors accounts based on the percentage of their share of risk capital in the pool.

Source: Wikipedia

The ultimate PAMM Account scam?

The jury is still out on Kevin James.  Will he replenish the accounts as he said?  He had no reason to come back and make that statement, he could have just disappeared.  Will he disappear and resurface under another name and start a new group?  Will those who complained to the authorities be successful in finding out the truth of what happened? As one investor told me, he has very little trust in any of these “groups or guys who market themselves with such good results” that is the draw, the signals doing so well is the bait for the ultimate PAMM account scam.

Then the inevitable “emergency” that could not be controlled and suddenly everything disappears. What is truly puzzling is this.  Obviously these “people” can trade with amazing results. They prove that with 6 months worth of signals and a happy clientele.  It would take a group of people to realize a scam like this to fruition so the money they gain would have to be split among them.

Do they really get that much money for the time and effort they go through instead of just using their brains to trade and gain their money where they have no one chasing them and they legitimately keep their profits for themselves?

Kevin James Forex Pamm Account

Stressed, but still confident on his Forex signals

I sent Kevin an email as per his Telegram message to the email he provided for clients to contact him as “someone” reported his facebook account as a fake and he was unable to access it as well.  On Tuesday, I received a reply from “Kevin” thanking me for the concern for his family and that he was under a great deal of stress.

He urged me to keep the trades re:  dollar weakness as he was sure of his analysis and confident the trades would turn around into profit .  Because of the stress he did not want to plan out trades just yet.

“Losses will be recovered soon”

On August 15 Kevin sent out another reply via telegram to his subscribers.  He explained he has had a huge drawdown as a result, he has been busy with his wife and his baby is not doing well.  He states to his clients not to worry, losses will be recovered soon, that he is not going anywhere.

He made 40,000 pips in the last 6 months and will again.  He Thanked everyone for their support and emails and will answer everyone individually.  “We will earn back everything we lost. I will also help my pamm clients recover their losses. Don’t worry I am with you guys.

I hope you will understand going through 450k loss and will stick with me in my difficult time.”  Kevin closes by stating he will compensate the people receiving signals with 2 weeks.

Kevin James Forex Fraud

Is Kevin James Forex Signals worth another chance?

There are those who are willing to give Kevin another chance.  There are those who state they want full transparency.  If not a live video stream where they can talk to Kevin and ask him questions and get replies then at least a video of him so that they can see who he is.

They want his “real” name, what country he resides, what city, down to his address.  They also want the “real” name of his team members and the same information as well as having them on either live video or a video.  In short they want full and complete transparency. Then and only then will they trust him any further.

There are as many legitimate questions and theories on both sides of the argument as to whether you should or should not trust Kevin.  Each person will have to make up their own mind.  Personally I have only the signal services so my risk is simply the $100 monthly fee at the most.  No matter if you receive signals or have a Pamm account, the ultimate decision of trades rest with the investor.

If you accept the signals, you have done so with the experience and knowledge of being a trader yourself, albeit not as good as Kevin, however if anyone feels a particular signal is not sound, they have the choice to simply not trade it.  For those in the Pamm account, they have contracted to put their money in the account with the full knowledge, consent and trust that the trades placed by Kevin are sound and they are in agreement to allow him to trade without interference.

Conclusion – there is still hope

My personal hope is that he does come back, trade the Pamm accounts back to not only replenishing them but a profit as well.  That he again regains his confidence and furnishes us with the signals that we know he is capable of.  That we have full transparency and are able to enjoy a trader/client relationship that will last for a long time.

Are you afraid of forex fraud? Would you like to learn more how to avoid Forex scam? You can also check out our guide where to find professional Forex signals. Have you any experience with scam traders?  Share your Forex experiences on our Facebook page.

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