FB Trading

The following is from a comment by one reader on another page on this site, but it tells all about his experience with FB Trading.
They have been on our radar for some time but regrettably we haven’t done a write up.
They had been ringing around trying to sell their automated trading platform.
As always with these things, they have a high buy in value, no verified live trading account record. They only offer a brief trial period..days, rather than months.
Sounds like they mislead and also keep milking for more money by the following commentary:

Hi regarding FB Trading.
Anyone else had bad experience with the company?
I have spoken to the following employees, Mark (who also Known as Kal) Isaac, Tracey, Joanna, (Sean & Denis managers)
Nov / Dec 2018 I was another person who was took their trial offer of $1000 and the broker was Berndale capital. I have a claim with ASIC for my funds and when I spoke to Mark he said I should get my money back from ASIC but still waiting. I have a claim with ASIC who is investigating Berndale.
Then I to was mislead & roped into buying a auto bot system 15 pairs for $12100. Normally $28600. In Jan 2019 then 2 weeks Later they offered the other 64 pairs plus 5 Crypto currency For $10000.
Please keep in mind I was new to forex. They set up the system Vortex FX bot as they are the experts and followed there advise. They set up with not stop losses in place. They said (Mark) that’s how the system works the best this way and the market will correct it self.

I was told that I didn’t have enough funds to open all the pairs only 10 pairs were switch on. Hence I brought a product that I can only a small % of. Once it started trading, The system In most of the cases, will have up 5 of the same pair opened in the same position and if it went the direct of the trade in the positive way it would take profit of a small amount. However with no stop losses in place it would have a greater loss amount. I ask them to stop the trading and let the 50+ opened negative position to closes off. I had Isaac give me their Alpha program (normally $100k to buy) for free. Because it had stop losses in the system. I found out later the vortex system could have stop losses in place. He switch it on and lost more of my funds. I told him it doesn’t work. He opened a demo acc $50k to prove to me the Alpha system works. But the demo account is at $41k loss plus floating at -13000k equity around the $31k Earlier this year they told me they didn’t have a demo account To show me only the trial offer. I told Isaac to Stop trading again and now I’m waiting for 8 positions to trade out. They have been opened from early 2019.
I was sold a total system that I could not use all the pairs because of my Trading account Was to small. No one told me until after the fact. Once they got there funds. Mark guaranteed me over the phone I would pay off the system in 12 months. It was an average return b/w 7-10%. Per month & A min of 1-3% per month. Listening to the video and looking at their (I believe Now a fake) trading history Data (which has no Swaps or spreads showing looking back at it now once learning and educating myself, should show the swaps and spreads.

Please share any thing regarding your experience with Fb trading Pty Ltd / FB markets Pty Ltd or Fibonacci Trading Pty Ltd.

Update, May 2020: FBM Expert
It appears they may be trading with the name: FBM Expert , still under FB Markets Pty Ltd.

14 thoughts on “FB Trading

  1. Tim

    FB Traders are a scam. They keep up selling with promises that never happen. The same story and sales pitch to every person. Just have to put $1000 into a trading account. Then you find out it costs $3300 for 3 pairs. You start losing your funds and when you call them, the reason is that you need more funds deposited. When that doesn’t work it’s because you don’t have enough pairs trading down you need to purchase more pairs. Always a new person looking after your account that has just been promoted upstairs and can do so much more for you, but you have to commit more funds to do so! It’s a scam!!

  2. Brad Post author

    Yes I lost $9k in trading losses after paying $4.5k for the automated forex pair trading . I had to call charter prime to shut down my account as it was in free fall heading for a margin call . Great talkers at FB Experts . Always a reason for their failures and they would tweak things to get me out of trouble . An embarrassing scam that I fell for . Don’t like to tell people how they reeled me in like a true sucker and hit my cash . Needless to say do not deal with them . Waste their time like they wasted mine and others . Never called me when the proverbial hit the fan . Was never in a profitable position the whole time but Simon was a good talker . “ come on mate , I really like you and want to help” we’ll give me my money back I would say “ I would if I could . Grubs

  3. Steven Post author

    I am taking legal action against FB Markets – previously known as Fibonacci Trading Pty Ltd as a result of my losses on their vortex software. I had a similar experience as some of the others who have posted on this forum.

    1. Doris

      Hi Steven
      How did you go with your legal action. We also lost $15,000 in 2019 – 2020. What a scam.

  4. Brock

    Yes variously Sean, Isaac and Sharif have conned me into buying their automated FB trading software. Like others here I had no knowledge of FOREX trading but was assured that their software did all the trading, it was automated and all that was required was to leave the computer on Automatic Trading.
    At various stages, someone from FB has instigated trades and they purport to be making money, in fact at one stage I was $3,000 up in my Trading Account. So far I have invested over $13,000 to buy the software plus my working capital – close to $20K all up.
    I became suspicious when the trading stopped at the end of May and the unclosed (losing) positions were obviously in deep water and unlikely to be traded. I am in that situation now. When I log onto Charterprime I am told that it is an invalid account. To be honest even now I assume that I was seeing a demo account because its only when I log into Live Trading that I get the invalid account message which auto switches off the automatic trading.

    None of the eight phone numbers that I have for FB Markets, FB Trading, FB Experts connect or answer now – they have obviously done a runner. However Optus must have some details on who owned these mobile phone numbers. I am prepared to chase these people down if there are others who want to join me. That includes recovering cars and any other assets as proceeds of crime – as is legal in Australia.

  5. Dave

    Lost a lot of capital using FBM.
    11k invested capital in platform + instruments.
    1k initial trading fund investment during 7-day “trial period”.
    2.3k extra investment added to trading account to adequately fund margin for trading.
    2.3k is gone in just under 2 months.
    The auto-trading algorithm is broken or set to lose, OR
    Someone is siphoning by setting up trades for failure and collecting on another system.
    The auto-trading software has on several occasions placed very suspect trades at ridiculous opening positions.
    The auto-trading software has on several occasions closed trades with -ve profit/loss, without passing stop-loss OR take-profit settings.

  6. Michelle Peters

    FBM Expert, FB Markets PTY LTD, Fibonacci Trading and FB Trading Pty Ltd….they are all one and the same scammers. They cold call and harass you to trial their EA software. You are given a one week trial and then they demand a ridiculous amount of money to keep trading…….promising you that you’ll make that money back in 6 to 12 months (apparently you are paying for trading pairs and software). Once you pay the money, another person will call and harass you, wanting you to put more money into it. They do not take no for an answer and even suggest you borrow the money if you don’t have as much as they are wanting from you!! I had no idea what Forex Trading was and I was told by Dane at FBM Expert that I didn’t need any knowledge as the software does it all. The software is to be left running 24/7 and needs absolutely no input from outside. So, I had FBM Expert set up the account and software, didnt touch anything – just let it run. I then found out that the software didn’t trade for two months. FBM Expert ignored what I said and kept talking about the VPS and having the computer on 24/7….they keep saying that you can leave the software to run without any interventions BUT will not acknowledge that without interventions, I would not have known my account was not trading. Finally, the brokerage group emailed to say that my account was a mess and needed to be fixed. I had no idea what to do. I was told to leave the software alone, not to change anything, and just let it run. All of which I did but I still had problems in my account. So, I cannot just let the software run and trade. I need some knowledge of Forex Trading and I need to monitor the account. So, the software does not do as I was told it would. I would not have purchased the software if I knew that I needed to have some knowledge of Forex Trading and would have to monitor my account. I have asked for my money back but was told this is not possible as I signed a contract stating no refunds. Then they ignored me stating the software does exactly as said…..ignoring the fact that I did not trade for 2 months while I left the software alone to do its thing. I have been doing my best to notify the World of what scammers FB are by posting on sites like this. FBM Expert phoned once they were made aware of my posts. They were willing to give me three more trading pairs…..if I take down all the stuff online. I said that I want my money back. The software does not do as stated so why would I want to keep trading? I don’t want to trade. They only deal via the phone so there is no trace of their lies. And, they are full of them. Fair Trading could not help. I am trying ASIC now and then QCAT. They are scammers and they need to be shut down! Avoid at all costs….

    1. Karl

      I started trading using the FB Markets platform in January and have made 2.5x the capital I invested. The software is generating great results for the money I invested. I cannot see why people are complaining about their returns with this company.

  7. Jan

    I lost $25k not to this company but another. Police, ASIC were not interested. I kept getting false promises
    My heart still bleeds. Sorry for your loss to these unscrupulus pieces of crap.

  8. Paul Woolley

    Berndale have been closed by ASIC the latest news from the administrator is that you probably won’t see a cent of your funds. Forex trading can be lucrative but the 2 things that are critical are 1. the broker, (pepperstone and IC markets in australia are good ones) and 2, the strategy. Ea,s (expert advisors) or automated robots can be helpful but you must have a verified trading record one such place to see tests on them is myfxbook, you can buy better bots with verified trading histories for $300 or less
    FB markets or Fibionnaci Trading as they have called themselves are a copy of the lay trading software style scams that fleeced people early 2000s headed up if you can believe it a former police detective Mick Featherstone. FB markets is another scam stay clear from these crooks.


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