Ibiza Traders is down.

Dear Investors,

In spite of our efforts we unfortunately have to inform you that Ibizatraders didn’t make it. By the end of November we had to report you a big draw down. If such a draw down has to be made up during a 2 to 3 months period it is obvious we had to take substantial risks in our books. As per the end of December we positioned ourselves for a big move up in all currencies against the US$, such according to general market expectations at that moment. Surprisingly to the markets and ourselves such moves did not materialize. In fact just everything one can trade against USD went down, from currencies to commodities, from precious metals to energy. Although we had our stops somewhere down the line this couldn’t prevent us taking big losses again. The situation got desperate and we were, unfortunately forced to finish our operations.

We understand that most of you are very disappointed and some even angry or frustrated. Well, so are we. I know it offers very little solace but we have been working for almost a year now on Ibizatraders (including the preparations). The undersigned also spend a lot of money and time on this project and never earned a penny neither. In fact he lost most of his savings as well in trading. Apart from the material aspect he also lost the most precious of all: his reputation, which can’t be expressed in money!