Hi everybody,

I am here to warn you with my experience with www.amasiscapital.com. They claim to work with Dukascopy. After long delays in correspondence I have invested 25100 CHF. After just two days only 19144 CHF were left, -23% in two days. I am a beginner in forex trading, but with my stop loss I have never lost more then 5%. After long delay in getting the portfolio statement, (it's clear why) I got the answer from the “Representative Office in Indonesia”! Dukascopy and Amass should be in Geneva, Switzerland! The explanation was: it's not just one trade as stated in the report and the next month will correct the loss. The next month the low was 19278 CHF.
Now I'm closing the account and I'm very suspicious how it will end.
So this is a managed account with high losses. In the same time others are achieving great forex results.

Dear Simpa

Your post is extremely negative and might put off other Forex newbies from putting their money with Amasis to their potential cost. Although it's hard to imagine anyone taking it too seriously it deserves an informed response. I am a highly satisfied customer of Amasis of 6 months standing - Feb 08 to date. This span must cover the period of your investment with the company. In that time I have enjoyed an average monthly ROI of 10.05 percent. Each separate monthly ROI has been positive. I consider that a great result and I believe any mature investor would agree. You seem to have one major and one minor 'issue':

1. 'Loss'. You state you lost money. Given my monthly positive ROIs during the same period - why did you lose money? (if in fact you did?). The only way you could have done so is if your account was opened towards the end of the month and suffered some late 'loss' days. See the relevant extract from the company website QAAs below where potential customers are cautioned that such an occurrence, or it's reverse (which I presume you would not be complaining about) might take place*. The following month, as best I can tell from your not too clear post, you did not make up your losses. You then choose to close your account before your losses could be regained. Or to put this more simply:

a. You made an initial opening loss (as you had been warned might occur) and then posted your negative comments.

b. You then withdrew your money before the company could make good the loss within their stated outside target of 2 months.

I still find it hard to understand how you made a loss. I am guessing, based on my own returns in that period, that by the time your account was closed you had made up the loss. If that's the case it might be fair minded of you to amend your post in accordance with the facts. And if you didn't make up the opening loss than it would be fair minded of you to acknowledge that your loss was because you choose to close down your account before the company could make it good for you - as it would have swiftly done judging by my ROI.

2. Jakarta. What is your problem with a company having an office in Jakarta? I work in SE Asia for a highly reputable international financial organisation and many major international institutions such as HSBC, Citibank, Ernst and Young et al maintain offices in Jakarta. Have you not heard the expression 'the global financial market'? And why are you surprised that Amasis has an office in Jakarta given the company website states it has a representative office there and gives the address of that office as the Indonesian Stock Exchange in Jakarta?***

To conclude: I feel your negative comments are extremely 'disinformative'. The root of your complaint seems to be your own inability to read and/or understand the company's FAQs and your lack of judgement in closing your account early. I note you state that ' ...with my stop loss I have never lost more then 5%'. Well done you. With Amasis I have never experienced less than a 10.05% gain averaged over the same 6 month period within which you claim to have a made a loss.

My advice to you is as much about life skills as forex trading:

Preparation. Read company FAQs before you invest.

Comprehension. Try and understand those FAQs. Get advice and/or translation if necessary.

Acceptance of Consequences. Accept that losses may occur in the initial opening month (or anytime) exactly as you had been properly warned*.

Patience. Be patient while the company achieves recovery** and allow it's skills to come to play over a monthly period. Don't 'post' until the facts are known - you may end up looking foolish.

Cast off Prejudices. It's a changing world and adopting Eurocentric prejudices may prove a hindrance to you in trading (as in life).

Demeanour. Your tone is a little petulant. Be more charming, I'd respectfully suggest, and not so fast to question others expertise or integrity most especially when you can present no supporting evidence. You state you are 'suspicious'. Sorry to say: The only suspicions your post may arouse in it's readers are likely to be about your judgement.

All the best with your future endeavours

SA

Extracts from Amasis FAQs below:

www.amasiscapital.com

* ... a client may experience a negative monthly return because the account was activated in the middle of the month and shortly after activation, we incurred losses from
our trading from which we did not have sufficient time remaining in the month to recover the losses for the client.

**... recovery time may take anywhere from 1 week to 2 months. Please note that no one can guarantee against loss in the financial markets nor that any losses incurred can ever be fully recovered... cannot guarantee that any losses incurred during a given calendar month will be recovered in time to maintain a positive monthly return at the end of the month.

*** Amasis Capital Management SA is headquartered in Geneva, Switzerland at 56 Rue de Lausanne. We also maintain a representative office located at the Indonesian Stock Exchange Building Tower 2, Fl.17, Jl. Jend. Sudirman Kav. 52-53, Jakarta, Indonesia. By locating offices in both Europe and Asia, our team is able cover events in the major trading sessions beginning with the Australian & Asian session, continuing through the entire European session, and ending after the first half of the US trading session.

Hi Simpa,

I'd also like to take a brief opportunity to respond to your post about Amasis Capital Management. I've had my money invested with Amasis since January 2007. More than 18 months later, my original investment has more than quintupled. My average monthly return since investing is 13.5%, and my average monthly return during the past 12 months only is slightly less at 13.23%. In 18 months, my statement has *never* posted a negative return. My principal balance is high enough now such that I can withdraw a monthly living allowance from my Amasis account, and my lifestyle has lately improved from that of a struggling graduate student (with just enough funds to cover my research and cost of living expenses) to a frequent flyer around the world and the ability to diversify my investments into less "risky" venues other than forex (though Amasis, so far, has posed no risk) such as real estate, mutual funds, and simple time deposits at my bank.

I have to agree with SEAsia who has concluded that you did not wait long enough to recoup your short-term losses at Amasis mid-way through the month, as advised in the Amasis FAQ website. For my part, I look forward to watching my investments continue to grow and diversify in the months and years to come, and all this is thanks to my impressive returns from Amasis.

Sincerely,
"kopyor"