FXRENT of Smart Management Co., Ltd., a venture corporate and business belonging to new growth engine industry, is a victim of the corporate case that has been operating illegal gambling website imitating FX margin trade rent transaction.
Cho, Jung-sik the CEO of Smart Management Co., Ltd. (FXRENT) said: “we are the victim from this gambling case being suffered from wrong information provided by the mass media.”
ba[------]sed on the FX margin trade GBP/AUD exchange fluctuation of buying position from a futures trading company, the arrested gangs had their members bet 1,000 KRW and 50,000 KRW to 1.00000 unit chart at 12:00 and had used the method when only -1, 1,000 KRW decreases after 1 minute, they had forfeited all deposits bet on buying position no matter the deposit is 1,000 KRW or 50,000 KRW, and paid all amount bet on selling position. Like this, they had been operating their website pretending to be FXRENT doing illegal acts unrelated to the actual FX margin trade rent transaction.
The FXRENT method managed by Smart Management Co., Ltd., according to the 6th clause of Article 9 in Capital Market Act, purchases 1 lot of FX margin trade (1.000000 unit) GBP/AUD derivative commodity in buying position as a normal trader, paying 900,000 KRW loan, 100,000 KRW deposit. From here, they pay 1,000 KRW financial investment brokerage fee and -50,000 KRW occurs as trading spread for financial investment dealer. From the purchased account ba[------]sed on the 6th clause of Article 9 as a normal trader, -51,000 KRW occurs, resulting the start of profit/loss in the account with -9,949,000 KRW.
For the FX margin trade derivative commodity that Smart Management Co., Ltd. had possessed, they keep 50,000 KRW as loss deposit from rent transaction member. When the -50 units decrease from exchange fluctuations of GBP/AUD 9,949,000 unit commodity occurs first from 12:00, the financial investment dealer marks 50,000 KRW withdrawal from Smart Management account, the contract is closed from 50,000 KRW loss deposit. In contrast, when the +50 units increase from exchange fluctuations of GBP/AUD 9,949,000 unit commodity occurs first from 12:00, the financial investment dealer marks +50,000 KRW deposit to Smart Management account, Smart Management Co., Ltd. returns contracted profit 43,000 KRW and unexpired 50,000 KRW deposit, closing the FX margin trade rent transaction.
Smart Management Co., Ltd. only rents in the range of the FX margin trade lots they actually possess, and the arrested gangs are reported to have been operating their corporate imitating the method used by Smart Management Co., Ltd.
Smart Management Co., Ltd. is planning to intensify their monitoring towards illegal gambling corporates imitating FXRENT trade and continuously take legal actions more actively towards those false corporates.
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