The Wolf of Wandsworth

Some of you may have seen the debut of Channel 4’s ‘Rich Kids Go Shopping‘, and found it as equally tacky and tedious as one would expect. The tale of the 21 year old Londoner  Elijah Oyefeso will have no doubt caught the eye of every university student procrastinating their way through the mid-year assessment period.

We found ourselves immersed in the life of a University drop-out who hadn’t squandered his student loan on his umpteenth Papa John’s pizza, but had actually ‘traded’ his way towards owning a Lamborghini. Only to be disappointed because he couldn’t yet afford his own jet. If there was a quintessential example that money can’t buy class, this guy would be it:

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That bodywork should be reserved for C3PO.

In a bad month Elijah is making more than the average UK citizen does per annum. However a good month can see him raking in between “£70,000 – 80,000”, an amount that will surely see him jetting off to Vegas in a diamond encrusted G6 in the near future. Before you tell me that this is just a case of sour grapes, or a jealousy fuelled rant about a lifestyle I can’t ascertain; you’ll be pleased to hear that Elijah is also a bit of a philanthropist. Astonishingly enough. Elijah has the time after his busy “hour a day” trading to help get your bank balance looking less like Chelsea’s points tally this season, and more like a telephone number.

Intrigued as to how Elijah was going to transport me from the wrath Storm Desmond to a beach in St. Lucia, I took a little look into what he ‘trades’. Elijah and his newly formed DCT group – a name worthy of a group just about to drop the sickest album of 2k16 rather than topping the FTSE, are trading in Binary Options. I’m not about to go all Financial Times on you, but I will give you a simple introduction. One of the most common forms of Binary Option trading is High-Low.

Lets say a fictional company, Ridiculously-decorated Lamborghini (RDL) stock is valued at 1500 at 11am. After my analysis I predicted that after 3pm it will be higher than when I called the option, because I correctly predicted the final outcome I’ll make 70% on top of my initial investment.

If it finishes lower than when I called, I’ll lose all of my investment. If this sounds a lot to you like gambling, that’s because it pretty much is. The brokers even have an edge on you, you have to be correct 55% of the time just to breakeven.

It’s not even a form of investment, you won’t physically own any stock. Gordon Pape contributing to Forbes online states “no one, no matter how knowledgeable, can consistently predict what a stock or commodity will do within a short time frame”. This is essentially the story of the guy who watches Rain Man and suddenly thinks he can count cards, then heads to Vegas to bring down the house.

Don’t have any knowledge or experience of the stock market but want to recreate the scene from above – and also not win an oscar either (Sorry Leo)? Just when you thought I might be dashing your hopes of ridin’ dirty in your Rolls Royce blasting Big Sean, don’t sweat it. Elijah and the boys down at DCT have just the solution. If you join their ‘team’ you’ll be entered into their WhatsApp group that they use to broadcast exactly what trades to make, even boasting a 70 – 80 % success rate *cough bullshit*. You don’t even have to get out of bed! I’ve always found that if something seem like it’s too good to be true, it usually is. There must be a catch right?

That’s when I started to dig a little deeper…

DCT1
Yeah course bro, would love to me old mucker.

The thing that strikes me about this all, is that they’re all very keen to let everyone else in on their big secret, I mean I guess it could just be an innocent noble act right? I’m sure once we’re on the inside we’ll get a better insight. After I declared my interest in joining the team, I was instructed by more than one of the DCT team to set-up a trading account with one particular broker. This broker was OptionsXO, so I gave them a little Google search:

Screen Shot 2016-01-10 at 00.16.17.png
Surprise, surprise.

This is horrifying as it is hilarious, the Twitter feeds of these guys consist of nothing but the announcements of new members to the team, i.e. people have just deposited a minimum of £170 into scam brokerage accounts. One of the methods Elijah uses to entice people in, aside from his social media presence resembling the life of Jordan Belfort (The basis of the Wolf of Wall Street), is to screenshot his ‘success stories’. However many of these successful students, I found to be spam accounts. In addition, after your free trial of tips has ended you will then be charged £107 a month for them, but there seems to be even more to this one.

After having agreed to become part of the team, two DCT members were extremely keen to have me screenshot the deposits I had made into the brokerage account.

DCT2
I played hard to get.

This absolutely smacks of an affiliate scheme, these guys aren’t buying their luxuries with their winnings! They’re buying them with the commission they’re earning every time some unsuspecting person deposits a substantial amount of money into these scam brokers. The thing that disappoints me almost as much as the con artists themselves, is that almost all media outlets in the country were peddling this nonsense. With each article contributing further to the facade.

For those of you who saw all of the luxury watches, fancy dinners, sports cars on Channel 4 or on social media, and then question if I’m right… That’s the point! There are marketers who’s sole job it is to conjure up an image that attracts people to pour their money into: false profiles, false reviews, false social media accounts, demo trading and fake screenshots. Social media can make it extremely difficult to perceive what it is genuine and what is not.

So before you go dropping out of University at the thought of your mid-year assessments to start ‘trading’, be careful.

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34 thoughts on “The Wolf of Wandsworth

  1. I found this article painfully cringeworthy to read. Perhaps if you had wrote it without all of the unnecessary insults and uncanny remarks it would be taken a bit more seriously. It appears as though you are disturbed by something other than your findings.

    You also still didn’t explain how he managed to earn so much money so quickly? So what if he is on various affiliate programs, it is not a crime, why must you discredit his entire success?

    Like

  2. Wow, nicely written Haydn. I had an inkling it seemed to good to be true and did my research too. Social media is the biggest endorser of false hopes. Hope others get to read this and think twice before investing their money in someone else.

    Liked by 1 person

  3. Haha I love it. Pondered for ages on whether to invest with this guy, and after questioning him for around two weeks and trying to get a phone call with him I told him I was interested today (07/02/16). He told me to invest in either ‘Benedict Morris Binary Option’ or ‘PwrTrade’ as brokers; both aren’t registered with an official regulation body, and PwrTrade definitely has bad reviews online. He’s clearly moved on from the other scammy brokers he was affiliated with to new scammy one’s. Overall watch out – him making me deposit $250 without even trying his supposed ‘free trial’ sends off its own alarm bells. Glad I didn’t believe in this get rich quick scheme, and did a good bit of research about both him and the brokers before investing.

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    1. Glad someone else did some research too, just this evening I saw a feature on a flagship show for the BBC about someone who had been scammed into trading in binary options… there’s clearly not enough education out there.

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  4. Like a fud I kind of got sucked in. I was going to start binary trading and decided to use their signals. Ive used their signals for 3 weeks and honestly they are successful in 35% of the time. However if i tell you £1 will be worth between 1 cent and $50 every day I would be correct 100% of the time. That is basically what they do. I used a different broker ( who you forgot to mention need a photocopy of your passport and credit card) They received $300 for me signing up. Have you seen their sales guys on twitter? WTF!! Elijah ( for it is he) yesterday showed a phot of 2 lambourghinis then put the text “keep it real” and “stay humble” ! Also while im thinking about that programme did you see the part when he was outside the shop buying clothes for the “POOR”? when his little future cell mate offered a passerby an umbrella and the passerby refused, Did you hear him saying “scum”? and they both laughed? If anybody need more information about this then please let me know. i will fill you in any details you dont already have

    Liked by 1 person

    1. Sorry to hear about your experience man, but thanks for spreading awareness. It’d really help quantity and evidence the risks of DCT if you responded to the following:

      So to clarify, by “their signals”, you mean Elijah Oyefeso’s DCT signals right?
      And did you stick to his signals exactly?

      Especially if you did stick to his signals exactly, would you provide screenshots of the signal messages and actual results?

      Could you also provide the exact percentage of successful trades, assuming 35% was an exaggerated understatement?

      And when you said you’d be correct 100% of the time, did they give a large range to accept? Screenshots of such messages, or general correspondence would be helpful

      Cheers,
      Investigator Brows

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  5. I was scammed by this Elijah fat fool aswell. They will block you from Whastapp signal group and twitter once you realise the scam. The fake broker “huge-options” will never give you your profits/withdrawals. They even called me to offer $10000 worth of trading signals lmao
    Anyways i’m reporting to ActionFraud now.

    Liked by 1 person

    1. Would you be able to provide screenshots of correspondence, including the signals?

      And if you followed his signals exactly, would you be able to screenshot the results?

      It’d really help others quantify the DCT experience.

      Cheers,
      Investigator Brows

      Like

      1. hmmm…..are you legit though. I dont want to send you personal information if you have no solid proof of your investigator status

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      2. No I am not a ‘legitimate’ financial investigator.
        I was looking to assess, quantify and possibly publicise your experience.

        This was to spread publicity, help others make a more informed decision, prevent others being scammed (if that has happened), and possibly use this evidence to prevent media (TV, newspapers, etc) from giving further publicity to a scam artist (assuming that has happened).

        But one cannot judge if DCT is real or fake without fair evidence.
        And, random unverified claims posted onto blogs do not amount to ‘fair evidence’.

        If you do choose to email me, I will not be exposing your personal details. Feel free to censor these out if you do send anything.

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  6. After notifying huge-options (DCT’s broker) that i have been in contact with the FCA, ActionFraudUK and my bank’s fraud dept, They blocked my account.
    I then got to talk to them on the chat room, and this was their reply “Dear user, our risk dept. have blocked your account because we think it is a fraudulent account, your deposit have been returned to you”
    Although nothing is yet to be returned to me, i then asked why my winnings were not returned to me rather than just my deposit. They once again replied stupidly, saying it was their policy for fraudulent accounts and ignored my question to describe what a fraudulent account is.
    NB their terms & conditions have no mention of a risk dept or a fraudulent account.
    It must be a 12 year old running huge-options

    Liked by 1 person

  7. I am so disapointed with myself, for the fact i did not read this before i signed up to DCT! I too watched this programme and thought ….. WOW id love to make a massive secondry income. So there i was signing up to the free trial when i get a call from one of the ‘team’. He instantly became friendly with me and it was almost as if me and him were best mates. I deposited my £300 into the broke UTRADER. The first day i made £25 -nothing major but i thought its okay it can only pick up! And it all went down hill from there, when they sent out signals…. even if they were wrong theyd still make out as if it had won! I couldnt believe it! The real kick in the teeth was when i decided to cut my loses with £200 left in my account………. i requested my withdraw and i get a call from my ‘senior broker’ at UTRADER …. he seemed really annoied at the fact i wanted to withdraw my money and even REFUSED to give it back to me! I was outraged! It took me a further 2 weeks of online chats and numerous legak threats for me to get my money back! DCT and UTRADER are SCAMS! Do not go near !!!!!

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  8. *THIS LETTER IS NOT DIRECTLY FROM ME, I AM SIMPLY PASSING IT ON FROM EMAIL FORMAT*

    Dear Thread Author(s):

    This law firm represents Elijah Oyefeso. If you are represented by legal counsel, please direct this letter to your solicitor immediately and have your attorney notify us of such representation.

    You are hereby directed to

    CEASE AND DESIST ALL DEFAMATION OF
    ELIJAH OYEFESO’S CHARACTER AND REPUTATION.

    Elijah Oyefeso is an educated, respected professional in the community. He has spent years serving the community in his profession and building a positive reputation. Mr Oyefeso has learned that you have engaged in spreading false, destructive, and defamatory rumours about him and his business interests.

    Under the UK legislation of ‘Defamation Act 2013’, it is unlawful to engage in defamation of another’s character and reputation. Defamation consists of

    (1) a statement that tends to injure reputation;
    (2) communicated to another; and
    (3) that the speaker knew or should have known was false.

    Your defamatory statements involved comments being made on the following forum thread:

    http://spifftv.com/Sick-Life-of-a-London-Trader–Elijah-Oyefeso-buys-a-Rolls-Royce-for-his-Mum

    Accordingly, we demand that you (A) immediately cease and desist your unlawful defamation of Elijah Oyefeso & DCT Trading Group and (B) provide us with prompt written assurance (via email) within ten (10) days that you will cease and desist from further defamation of MR OYEFESO AND DCT TRADING GROUPs character and reputation.

    If you do not comply with this cease and desist demand within this time period, MR OYEFESO is entitled to seek monetary damages and equitable relief for your defamation. In the event you fail to meet this demand, please be advised that MR OYEFESO has asked us to communicate to you that she will pursue all available legal remedies, including seeking monetary damages, injunctive relief, and an order that you pay court costs and solicitor’s fees. Your liability and exposure under such legal action could be considerable.

    Before taking these steps, however, my client wished to give you one opportunity to discontinue your illegal conduct by complying with this demand within ten (10) days.

    Accordingly, please provide confirmation of removal within (10) days to the following email address:

    info@dcttradinggroup.com

    I recommend that you consult a solicitor regarding this matter. If you or your solicitor have any questions, please contact us directly.

    Like

      1. Haydn, as you are probably very much aware, Elijah does not have a legal leg to stand on and this threat is pure bluster. I have had similar legal threats made against me in the past for blog posts about JA wealth and the London Fashion Exchange. I received legal advice and was able to research the legal issues thoroughly. As long as you can show that what you have written is “without malice”, and that a “fair minded” person could come to the same conclusion you have absolutely no legal case to answer. Furthermore, the last thing in the world that Elijah wants is the scrutiny that would come with a court case! Nevertheless, if you – for whatever reason – feel you have to take this post down, I will happily repost it on my blog with your permission. The good news is that, if he is resorting to legal threats, your work is having an effect, and therefore it is definitely worth keeping the post up! If you receive any threats that intimate physical violence, get in touch with the police immediately. I found the police to be very helpful when I was threatened by similar cretins.

        Feel free to get in touch by email veniamin.tal@gmail.com

        Like

      2. Ven,

        Thanks for your comments, I assumed as much especially after doing my diligence on the poster who gave me my cease and desist.

        I will continue to host it, however I would be happy if you wanted to host it too for more visibility?

        Like

    1. Nice email doesnt mean shit DCT trading group is a SCAM!!!!!!!! SO IS AKH_FUAADH and HITHER MANN they are just earning money off gullible people

      Like

  9. I’ve seen Elijah a couple of times in his Rolls Royce Wraith in London and the way he probably makes his money is by affiliate sign ups NOT by trading Binary Options. Anybody who has ever traded for real will tell you just how much of a scam/lucky dip/gamble binary option trading is. It’s essentially a coin toss and you’ll eventually lose your shirt, that’s the only guarantee here. Elijah plays the part of a trader very badly, one look at him and how he talks should set off alarm bells for anyone willing to part cash and sign up to a binary options portal. His whole ethos is to get people to sign up so he can live the lifestyle, not you. Social media has played a big part in this turkey rising to fame. Basically anybody could do the same as Elijah if they wished and i’ll include the steps below:

    1. Hire a flashy car for the day.
    2. Go and see a few nice flats up at South Kensington – if they are furnished, all the better so you can take a few good selfies and make it seem like you live there!
    3. Build a website or blog and provide signals – I would buy my signals from somebody else and resell them (Top Tip),
    4. Get an Instagram account and load it with your newly acquired wealth pics ie. Kensington flat and flashy car.
    5. Once people start to sign up and buy into your lifestyle, you’re set.

    Above is a crude version of what Elijah has done to get the ball rolling, obviously there are other things to consider such as Facebook ads and other types of promotion. Basically, once your little sales funnel of affiliate commissions start coming in, the sky could literally be the limit. Forex and Binary options affiliates are some of the highest earners in the land and 50k-100k a month is not uncommon as our friend Elijah doesn’t only collect wonga on your signup, he’ll collect it when you lose as well!

    So to sum up, is Elijah that Mr nice guy he portrayed himself to be on Rich Kids Go Shopping or is there a more devious side to him where he portrays a modern day highway man, relieving every man woman or dog of their hard-earned cash who’s willing to buy into his lifestyle and become a trader? Mmmmm, food for thought eh?

    Like

  10. i dont do binary options trading .but a friend of mine lost money for a new business .about $100k to glenridge capital, she was cheated by binary options company .they kept on making promises we searched for weeks until we found http://www.covertduty.com they have unconventional means and they got his 100% refund back .they might be able to help you too.

    Like

  11. I have no idea about trading or binary trading in particular but common sense tells me if i’d really get into trading i would go the real route, i.e. not relying on someone else’s fucking “signals” but do research on my own, get educated about what i’m planning to get into and then rely on my own gained knowledge and guts. So being in a Whatsapp group waiting for “signals” (100% surefire of course) to utilize in a gamei have no knowledge about is what makes people “traders” nowadays ?? It’s your own fault, people.

    Like

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