Phoenix Group

A victim emails about the dodgy OakFX ratbags

We have covered the demise of OakFX extensively, but the carnage left behind by these ratbags is starting to emerge.

One victim emails so that the footprint of their damage is larger.

David McEwen

David McEwen

Dear Mr “Whale Oil” “etc”

I’ve just read your remarks on that toxic product OakFX & re: your invitation to any other victims to share their own disastrous experience, may I share ours with you.

First an Oakfx cold call came from Aaron Hinks then later, a followup so decided no harm in having a look as Hinks acted on a referral from David McEwen who gave an address at the NZSA conference 2 years or so ago, where Brian Gaynor also spoke. Impressed, I had since then subscribed to the weekly McEwen MIR & held him in high regard.

So, back to Oakfx, McEwen & Mark Brewer conducted the sales interview. I felt uneasy about Brewer but my existing respect for McEwen & then his “glowing” Oakfx reports in “Investor” magazine etc was the key reason we coughed up NZ$24700, the Oakfx“licence fee”. They repeatedly emphasised the well-proven record (over several years)  of the totally passive (“earn while you sleep”) hands-off computerised algorithmic forex MICRO TRADING system. My wife & I were reassured when they stressed that micro trading meant tiny trades with  small gains& losses with never more than 15% of our capital in the market thus  giving better control over risk.  Read more »