Great shout for posting on the forum, hope there aren’t too many people being burnt.
I can’t see how this group will last. Hopefully because FI will close the accounts down, but they’re obviously a greedy bunch of bastards out to make profit. But, and here’s the kicker, someone in that group is likely to lose out. Say you have 10 people all purchasing 1000 futures. The first person gets in at 25p, and the price increases to 26p. The second at 26p, third at 27p and so on. The last person is buying at an already inflated price. First one who cashes out will most likely make the most profit, but if the last one in is also the last one out, they will have to sell at a deflated price once the other 9 have taken their money, and it’s likely most will be IS’d, so the spread also comes into play too, not to mention the commission. This is not likely to be profitable, at least not all the time.
Going back to the point about them all being greedy, every one of them will want to be the first out to make the most, it’s likely that some will go behind each other’s back to do so too. The same greed that brought this group together is the same greed that is likely to break it up. As money is involved, it will probably break up some friendships too.
Karma, as they say, is a bitch.