Financial Intelligence Complaints & Reviews

Mr Fayaz had contacted me, after I had posted this complaint and offered to pay me back the capital amount ( Rs 5, 00, 000/-) invested by me. As promised, he has paid me back the capital amount ( Invested amount Rs 5, 00, 000/- less the amount he had paid me as payouts in the first few months . I had accepted this settlement.

I am another victim of Fayaz Sadik Sait. In june 2015, he joined Michael Freeman’s Secret Binary Options Signal group on Facebook. He came with a Facebook profile named Tec Trader. This profile was shortly after reported and he changed to a new profile named Fayyaz Tec Trader. Traders of Binary Options including myself have mostly no knowledge of trading and he came there and showed Michael Freeman’s group his charts and some instructions. Some of the members including me was amazed by this and wanted to learn from him. He created a separate group chat with 20 people from all around the world. He said his name was Fayyaz and that he preferred to remain anonymous. He chose me to be the administrator of the group and he said he would train us in his system and we would create a company with him and in his words: “ it will be booutique style brokerage were we make client trade based on our advise, something like a Goldman Sachs private wealth consulting, 2nd in line is a online school for traders, third is active and successful traders will be roped in where I get to invest my money and take advantage of their skills and also the very brilliant ones will get roped into the brokerage business. Within a year we will have at least 1m$ in revenue” He said we were all shareholders in his company. In his words: My plan is we will form a group company and we will divide the stake in this order - Me = 50%, You = 25% and rest 25% will be distributed as stakes to the rest of team members” He said he had been a successful trader for the past 5 years in Forex and he tested binary options to see what kind of people were trading there and to look to gather a team. He had also bought the domain for the company which he was to create with us named tectraders.com. He had plan to register the company in Malaysia.

After 4-5 weeks he disappeared without any notice. He returned every few weeks for 5-6 months having one accident after the other as excuse for his absence.
He wanted me to maintain and train the group while he was away. At first he said he lived in Dubai but due to incidents he had to go back to India. He had a baby boy September 15th or 16th where I sent flowers to the hospital Sundaram Medical Foundation, Chennai, India.

In February 2016 he returned to Facebook, and were talking to me every day since. He had then created a third profile named TecTrader Fs. He did not want to talk to anyone else but me in the group again. He wanted the group smaller. Some had left as time went by and some I had to eliminate.
I got paid zero for running this group but he assured me I would make so much money if I just stick to him. And I did. I ended up abandoned the entire group. He gave a few manual trade suggestions to me but they were much more losses than wins. I thought I was just unlucky. I had stopped trading binary options and did only CFD forex trading like him. On my account I was mostly breaking even trading by myself and according to him I should double my account fast without a problem. In April 2016 he asked me if I wanted to connect my account to his personal account so that all trades he took would be copied on my account automatically. I was thrilled by this offer. I registered as he advised with the broker ADS SECURITIES in Abu Dhabi through an IB Link he gave me with the name Mohammed Salman Mirza. He said it was his friend who didn't need this commission (rebate) money, I would earn a rebate refund on $12 per standard lot traded. I invested $5000 in this account and he started trading it May 9th 2016. In 6 weeks he did over 600 trades on my account and the account balance were going lower and lower. He assured me “my life would change “. Halfway down on my account he assured me this was just the beginning and we were just wasting time having huge losses open WITH NO STOP LOSS on 90% of the trades he excecuted.

Before the British EU Referendum my account had only $1000 left and he said he would transfer me $20.000 so we could trade BREXIT with “mutual benefit”. Money never came, only excuses.

After 6 weeks my account was all gone, just $7.79 left and final 4 open trades were closed by broker after margin call. He didn't even send me a message to apologize. In fact I sent him a message 2 days later wondering if he were ok as I thought most people would be hurt and ashamed by wasting other people's money. I was still just being nice and loving with him.

I had after 8-9 weeks not received any of the weekly lot rebate of $12 per standard lot he promised. Few days later one of the former group members figured out his full name had to be Fayaz Sadik Sait, as he spot his name in a screenshot he posted 12 months ago, this also coincident with the first email address he gave me which started with fss. Then we found this complaint article. We also found he had registered more companies in India; UNILIFE HEALTHCARE INDIA PRIVATE LIMITED and FIS TRADING AND INVESTMENT SOLUTIONS PRIVATE LIMITED. We found his twitter account and and on his google account it says he lives in Dublin.
When I found out all of this I wrote him a harsh message asking for “justice” and my rebate but I did not mention this article or that I knew his real name. He got mad at me and claimed I was not able to deal with losses.
He had claimed to own several properties, having staff and drivers and live a very wealthy life. I was not worried he would appreciate me and my past 1 year effort with that group so much that he would at least refund my lost investment of $5000.
After uncomfortable messages and phone call I ended up apologized and played again nice and dumb so at least he would send the rebate as agreed from the beginning. The rebate earned due to extremely high spread (in reality there is no rebate it's baked into the spread) was $1559.
He send me thru PayPal from yet another name which was Mohammed Althaf $1500. The fees of total $76 I had to pay for (!). He did not even have the dignity to send me the entire $1559 and cover the fees.

This was the final drop for me and I am going viral with all information I have on him and all names connected to him.

He wasted ONE YEAR of my life and 19 other people's life where some quit their jobs or didn't take job offers due to his promises of partnership and fortune.I trusted this man who claimed trading was so easy for him, he said it was just a “habit.

He also claimed to have an autotrader(a machine doing trades automatically) and in february he send me a MT4 Statement of 2700 trades over 5 weeks with a $5000 investment growing into $24.000. The name of this statement however was Md. Azad Tarafdar. He told me to get ready to make the fastest $1million in my life. Again empty words.

We are 19 people who have been taken advantage of. We have learned to trade the hard way, but some o[censored]s have got into serious problems having no job or money due to his promises, and we are going to warn everyone about such scams in this industry thinking they can walk away without consequences.

THE RESPONSE TO THIS ARTICLE IS JUST THE BEGINNING OF WHAT I WILL PUBLISH.

Heidi Thoresen, Oslo, Norway

I would also like to add that there were one other person from the group whom also connected his FX account to Fayaz Sadik Sait. He also lost his entire account investment of $26.000 over a period of 10--12 weeks.

When Fayaz called me up 2 weeks ago to sort out the "rebate" he admitted to have blown several accounts, and said he had 12-15 months of major challenges personally and proffesionally.

Heidi Thoresen, Oslo, Norway