700% yield in one and a half year. Can this be true?
This week, I received a newsletter that offered a managed account. The e-mail contained very nice results, that sparked my interest. I invested on the basis of similarly good data into an account previously, that lost half of my capital (PrimeFundFx). I am writing this only for you to understand why I’m very careful.
I checked their website (www.fx-trading-account.com).The first remarkable thing was that it has won an award already. But anyhow I tried to find it, there was no information about any award called best managed fx program on the Internet, at least, it was not reported who received it, in which year. Global Forex Award has not awarded managed accounts either.
There is no information about the company on the Internet when looking for the exact name between quote marks. What is also disturbing is that this domain name was registered on December 23, so less than a month ago, and the name of real owner is not revealed. The companies I currently work with regarding managed accounts, are all registered companies, even if they work offshore.
Unfortunately, we are not allowed to see much useful information on the FXST account statement, although especially the list of transactions could say a lot. The average yield and the drawdown are OK. Floating is not displayed, but it is quite sad data that the average transaction length is 155 hours! So, a big floating can be expected, since the strategy is sitting out the wrong-way movements. I think, this may be the weakest link. I believe the monthly return of 60% was calculated on the principle of compound interest, because I have not seen so high monthly returns in the report.
Further details can be requested by e-mail, which I did, but have not received a substantive reply yet.
I do not dare to join this on the basis of my current experience. If you get a feel to it, or received information that strengthens confidence, I would be happy if you could share your experiences with me, maybe we’ll be smarter. I am interested in everything from account opening until the results.