Well the inevitable appears to have happened…as we had been warning throughout this review and particularly in recent updates that this looked like a possible scam – so it now seems.
Payouts had been getting increasingly smaller over the last few months and there had been large gaps appearing with no payout for days or even over a week. There has been no payout since 10th October…
On days when there was a payout, it was normally just 0.01
Well now when going to try and withdraw we are only able to withdraw $2.49 rather than the $124.74 we should be able to withdraw.
Here is a graph of the balance going slowly down:
It also states the drawdown on our account is 98%.
So this is a definite FAILED rating and is one to comprehensively avoid.
We had stated at the outset our skepticism that they were actually doing what they claimed, which is using the rebates from forex trading to generate a steady profit, aiming to just make a break-even on the actual trades.
It is one of those cases of “if it was that easy, everyone would do it.” We couldn’t see realistically how you could make enough from the rebates to cover all the transaction costs and still pay out as much as they were.
We asked repeatedly for evidence of the forex trading supposedly going on and the rebates being earned, but such evidence was never provided.
In reality it was probably just another Bitcoin scam. They would only take payments in cryptocurrency, which seemed odd given they are supposedly trading forex.
You can keep a scam like this going for a while crypto prices are going up, but when they crash like they have recently they you can no longer afford the payouts.
So we’ll call this a day now and reiterate our warning to avoid it.
FX Scalper Fund – Results Update
31st July 2022
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, the returns have dropped even further with just $0.33 profit made since our last update.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $28.71 in profit.
You can view full results here.
As mentioned last time, the returns have fallen quite dramatically recently, and have been just $0.01 per (week)day for the last few months – apart from one day, which was $0.03.
So we are still suspicious of the platform and will now try a withdrawal to see if at least we can still get funds out.
We will report back soon on whether that has been successful. In the meantime we would treat FX Scalper Fund with caution.
FX Scalper Fund – Results Update
10th June 2022
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, the returns have continued to really struggle with just $0.17 profit made since our last update almost two months ago.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $28.38 in profit.
You can view full results here.
As mentioned last time, the returns have fallen quite dramatically recently, and have been just $0.01 per (week)day for over a month now.
We now feel this needs an official warning – we have suspicions this project relies on cryptocurrency prices (hence payments needing to be made in Bitcoin) rather than the “forex rebates” it says it does.
The low payouts would correspond with this theory, as the crypto markets have crashed in recent months, where as if they relied on forex rebates there would be no reason for payouts to have dropped so dramatically.
In any event we may never know, but we would put the highest level of risk warning against this project now.
FX Scalper Fund – Results Update
27th February 2022
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, the returns have continued to struggle with just $1.39 profit made since our last update almost two months ago.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $27.93 in profit.
You can view full results here.
The returns have fallen quite dramatically recently, with some days providing just $0.01 or $0.02 in returns, which is well below the average for our trial. With compounding the returns should be increasing not dropping, so this is not a great sign.
FX Scalper Fund – Results Update
27th February 2022
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, the returns have dipped a little with $1.55 profit made since our last update.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $26.54 in profit.
You can view full results here.
The concerns we expressed last time about a lack of updates and the slight drop in returns have continued. This does heighten our worries about the platform and whether it is legitimate or not.
So at this stage we would caution anyone considering this to be careful, there are some warning signs there.
FX Scalper Fund – Results Update
21st January 2022
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, it’s the same story with more steady gains and $2.27 profit made since our last update.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $24.99 in profit.
You can view full results here.
The payouts have continued to go down which is giving us cause for concern, as is a lack of emails and updates on our account.
These could just be short-term issues but could also be warnings of deeper problems. As always it is difficult to tell from the outside, but as expressed in many of our updates below we have never been comfortable this is a genuine project and those concerns have only heightened recently.
We are reminded of one of our foremost concerns, which is that deposits have to be made in Bitcoin even though the supposed project has nothing to do with Bitcoin, it is supposed to be forex trading. If on the other hand they are reliant on an increase in the price of Bitcoin in order to make payouts then the recent drop in the price of BTC could be a problem.
As we say it is impossible to know from the outside if this is the case or not, we are just speculating. But we have seen this in now defunct platforms and so are alert to the danger here.
FX Scalper Fund – Results Update
28th November 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, it’s the same story with more steady gains and $1.64 profit made since our last update.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $22.72 in profit.
You can view full results here.
As mentioned last time, the payouts have somewhat stagnated lately which is surprising given we are reinvesting our profits. We would have expected some more growth as we’ve been reinvesting for over 10 months now, but if anything the daily payouts have been going down.
The year as a whole is also down compared to last year base on the results on their website, but we have not seen an explanation of why that is.
FX Scalper Fund – Results Update
7th October 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, it’s the same story with more steady gains and $1.14 profit made since our last update.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $21.08 in profit.
You can view full results here.
As mentioned last time, the payouts have somewhat stagnated lately which is surprising given we are reinvesting our profits. We would have expected some more growth as we’ve been reinvesting for over 10 months now without seeing much improvement in the daily payouts.
Of course in theory this could be down to them not making as much on their rebate activity, but it does seem a little strange to us in any event.
FX Scalper Fund – Results Update
7th October 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, it’s the same story with more steady gains and $1.88 profit made since our last update.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $19.94 in profit.
You can view full results here.
The payouts haven’t really increased much despite us reinvesting most of our gains. We would have hoped for a little more gradual growth resulting from the compounding but that doesn’t seem to have happened.
FX Scalper Fund – Results Update
9th September 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, things keep moving steadily along with another $1.56 profit made since our last update.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $18.06 in profit.
You can view full results here.
The payouts over the last week or so have dropped quite a bit. We are not given an explanation as to why, although it could just be natural variation and may bounce back again soon. We will just have to wait and find out…
FX Scalper Fund – Results Update
13th August 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, things keep chugging along with another $1.20 profit made since our last update.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $16.50 in profit.
You can view full results here.
The total profit for the year now stands at 14.78%, which isn’t too shabby at all. Most months have been 1-2% so with compounding there is the ability to build the returns with this service.
As stated before though without seeing proof of how the returns are being generated we can’t be sure it is sustainable.
FX Scalper Fund – Results Update
27th July 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, things keep chugging along with another $1.56 profit made since our last update.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $15.30 in profit.
You can view full results here.
Just to say they now accept deposits in Ethereum and Tether as well as Bitcoin, although there is still no option to deposit by debit/credit card or bank transfer, which is a little suspect to us. The trading would obviously be done in fiat currency so why do they require deposits in cryptocurrency? It all just seems a bit strange and obviously cryptocurrency is harder to trace.
It just adds to the idea of a lack of transparency and the overall concerns we have about the platform.
FX Scalper Fund – Results Update
7th July 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, things keep chugging along with another $2.00 profit made since our last update.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $13.74 in profit.
You can view full results here.
The daily payouts have been fluctuating a little lately at anything between 0.09 and 0.14 per day territory, but as we say overall it continues to move along in steady fashion.
The website has been upgraded recently but still very little in terms of transparency about the trading.
FX Scalper Fund – Results Update
12th June 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, since our last update we have made a further $2.03 profit.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $11.74 in profit.
You can view full results here.
The daily payouts have been picking up a bit lately and getting into 0.13 and 0.14 per day territory, which is encouraging. There was a little dip at the start of June when we only received 0.02 and 0.08 but it appears that was just a temporary blip.
As we’ve said before this is slow and steady but so far is performing as advertised.
FX Scalper Fund – Results Update
18th May 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, since our last update we have made a further $1.45 profit.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $9.71 in profit.
You can view full results here.
We have seen a slight uptick in returns over the last week or so, although it’s unclear if that is just a temporary bump or a sign of improving returns going forward. We are reinvesting our returns but it is likely to take some time for that reinvestment to really come to fruition.
FX Scalper Fund – Results Update
28th April 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, since our last update we have made a further $1.20 profit.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $8.26 in profit.
You can view full results here.
They have a new website – or homepage at least. There is still no proof in terms of the revenues they are generating or the kind of transparency we are looking for.
Until we see that we cannot really approve this service, even if the returns are solid.
FX Scalper Fund – Results Update
9th April 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, since our last update we have made a further $1.49 profit.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $7.06 in profit.
You can view full results here.
As we mentioned last time, it doesn’t feel like the rewards are worth the risk with this platform.
The reinvestment strategy is starting to slowly push up the daily rebates we are receiving slightly, but our overall returns here are still only around 7%. We may run this trial a little longer, but overall we feel there could be better uses of our funds.
FX Scalper Fund – Results Update
2nd March 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, since our last update we have made a further $1.15 profit.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $5.57 in profit.
You can view full results here.
At the moment it doesn’t feel like the rewards are enough to justify the risks, in the sense of not knowing if this is a scam or not.
There is still very little transparency on the platform about how they are generating the rebates, from whom they are getting them and there is no evidence provided of the actual returns generated. Until that changes we will remain sceptical of this project.
FX Scalper Fund – Results Update
2nd March 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
Anyway, since our last update we have made a further $0.85 profit.
That means that after an initial deposit of $100 (which has to be made in Bitcoin), we are now $4.42 in profit.
You can view full results here.
We made a withdrawal of $10 on 11th February and whilst that did take a while to be processed, it did finally arrive in our Bitcoin wallet on 26th February, which is fifteen days later.
It does say on the website that it can take up to 10 business days to process transactions, so that is probably just about on that timescale.
Anyway, the returns do feel a little underwhelming here, certainly compared to platforms like Yield Nodes which we will be reporting on shortly.
FX Scalper Fund – Results Update
11th February 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
In any event, so far after an initial deposit of $100 (which has to be made in Bitcoin), we have made a further $1.62 in profit since our last update.
That means we are now $3.57 up for our trial overall.
You can view full results here.
We have just requested a withdrawal of $10 from our account (which also has to be made in Bitcoin). According to the website it can take up to 10 days to process but we will report back on the progress of that withdrawal in our next update.
It is usually a good sign if withdrawals are processed successfully and promptly in schemes like this and would certainly be a big red flag if there were any problems processing withdrawals.
FX Scalper Fund – Results Update
24th January 2021
FX Scalper Fund is a platform that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
In any event, so far after an initial deposit of $100 (which has to be made in Bitcoin), we have made a further $1.13 in profit since our last update.
That means we are now $1.95 up for our trial overall.
You can view full results here.
We have been actively invested in the service for over a month now, so the monthly return is in the 1-2% range at the moment. That is fine in itself, but its questionable whether that’s worth the risk when there are considerable doubts about the legitimacy of the platform.
Anyway, we will continue tracking the performance and provide any updates as we see them.
FX Scalper Fund – Results Update
5th January 2021
FX Scalper Fund is an idea that revolves around using the rebates on forex trades to produce a regular income. It aims to just break even on its trades but to make an income from the rebates.
We like the idea of it, but at the same time are a bit worried it could be a scam due to the lack of transparency around the service.
In any event, so far after an initial deposit of $100 (which has to be made in Bitcoin), we are a grand total of $0.82 in profit.
You can view full results here.
We have been earning rebates since 14th December, although you do not earn rebates at weekends or on public holidays as there is obviously no trading with markets closed.
So even if this is a genuine service and not a scam, the returns so far have been modest, equating to just over 1% per month for our trial to date. If they could get back to the returns of early last year of over 4% that would make it more appealing.
We are reinvesting our rebates for the time being so that should speed things along a bit, but even with that reinvestment it has been pretty slow so far.
FX Scalper Fund – New Review
11th December 2020
Today we are starting a new review of a passive income scheme called FX Scalper Fund.
This is quite an interesting and innovative idea that revolves around using the rebates on forex trades to produce a regular income.
They aim to simply break even on their trades, but produce returns through rebate schemes that are paid on trading volumes.
Here is the FX Scalper team themselves explaining a bit more about how it works:
As you can see it is a really interesting concept and we like the idea of it supposedly being low risk and using something besides trying to guess the direction of the market to produce returns.
Now we have to say we also have some concerns this might be a scam. There is very little transparency on the platform about how they are generating the rebates, from whom they are getting them and there is no evidence provided of the actual returns.
We requested this from them but all they have responded with is that their “technical team is now working on all trade history and further reporting.” That was back in May and we haven’t seen anything substantive on this front since then.
Another red flag for us is that used to have two options for depositing: via bank transfer to a broker called Globex360 (Pty)Ltd, through which presumably the trading would happen and rebates paid. However, now the only option for depositing is via Bitcoin, which is worrying.
There have been a huge number of scams involving Bitcoin, primarily because it provides scammers with some anonymity and an ability to avoid going through traditional banks and the checks that would be involved with opening an account and transferring large sums of money.
So we do have worries about this site, although would love to be proved wrong because as we say it’s a really interesting concept.
The results reported on their website aren’t totally outlandish, for 2020 at least:
| Month | 2019 | 2020 |
|---|---|---|
| Jan | 11.04% | 4.56% |
| Feb | 8.12% | 4.54% |
| Mar | 9.37% | 2.89% |
| Apr | 13.91% | 2.05% |
| May | 9.22% | 1.57% |
| Jun | 14.51% | 1.90% |
| Jul | 15.83% | 1.25% |
| Aug | 21.18% | 1.75% |
| Sep | 19.00% | 2.85% |
| Oct | 21.56% | 3.02% |
| Nov | 13.46% | 3.11% |
| Dec | 4.63% | 0.73% |
| Total | 161.83% | 30.22% |
Anything promising returns of 1%+ per day is obviously a Ponzi scheme and should definitely be avoided, so it’s good at least that these returns are more like 3% per month for 2020 rather than 30%.
And we have been tracking the service (without depositing funds) since April this year so the fact it is still going is at least something as many scam sites don’t even last that long.
So we have deposited $110 worth of Bitcoin into FX Scalper Fund today and will run a review here to see what kind of returns (if any) we achieve.
As we say, we are a little dubious about this one but let’s see how it plays out. We will provide regular updates here on how things are going.
In the meantime you can check out FX Scalper Fund for yourself here.
The contents of this website are intended for educational and information purposes only and do not constitute any form of advice or recommendation and are not intended to be relied upon by you in making (or refraining to make) any specific investment or other decisions. Appropriate expert independent advice should be obtained before making any such decision. We cannot and do not offer individual investment advice.
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