I had an ex-friend get into business with a lady who promised the exact same returns, but with options trading. She’s been charged by the SEC for fraud a few times over now.

Take that as you will. Everything is POSSIBLE. But it’s highly improbable. I suppose if he’s not constantly looking for new investors that might mean he doesn’t need to pad losses like scammers usually need to. People who are running you for your money usually pay out old investors with new ones to keep the scheme going.

I don’t know what registration requirements futures-trading funds have but I would look those up to make sure he’s actually compliant.

I’d be skeptical as hell but if it keeps going long term, I can’t exactly hate on it.