You are using an out of date browser. It may not display this or other websites correctly.

You should upgrade or use an alternative browser. Discussion in ' Forex Basics Boot Camp - Fx Articles by Pharaoh ' started by Pharaoh , Jun 12, Complete Forex Trading Course by Pro Banker Shoulders of Giants Market Analytics Daily Forex Trading Signals Forex Glossary. Scam Alerts - Read and Report Forex Traders Court Community Forums.

Search titles only Posted by Member: Separate names with a comma. Search this thread only Search this forum only Display results as threads. Forex Peace Army - Your Forex Trading Forum. This site uses cookies.

By continuing to use this site, you are agreeing to our use of cookies. How Not To Lose All Your Money With A Managed Forex Account Discussion in ' Forex Basics Boot Camp - Fx Articles by Pharaoh ' started by Pharaoh , Jun 12, Oct 3, Messages: Azizhasnal1 and AliKhan like this. May 29, Messages: Have read several of your posts-all have been excellent! By the way-I have lived in South Florida for 24 years.

Some times it is too "sunny". Well, this should teach me to take a little more time researching articles. There's yet another way for account managers to extract money. Some of them charge a fee "per lot traded" in your account.

This means that churning accounts isn't just limited to account managers with an IB relationship. A friend also pointed out to me that there may be more exemptions to NFA registration requirements for account managers in the spot forex market than I thought.

The regs clearly state that forex account managers must be registered with the NFA, then list a pile of exemptions. Personally, I'd feel safer with a registered account manager if the company is in the US. My friend had a second suggestion. Some forex account managers or account management companies are independently audited. This is definitely a good thing. Just check to make sure the auditing company is truly an independent auditor and not really a company either working for the account manager or a company that's getting a commission for referring new clients for forex managed accounts.

Jun 29, Messages: Only works with one brokerage and not a well rated one. Contact page lists the broker's phone number and street address, but only email addresses for HGNFX. Do these people even have their own office? I can understand minimums for managed accounts, but these seem awfully high. Claims 5 years experience, but the website was registered in Feb.

There are some account statements that go back 5 years, but there is no way to verify the authenticity of these. Website is full of typos and grammatical errors. Surely a company with over 5 years experience and millions of dollars under management could pay someone a few hundred bucks to fix this.

They claim to be regulated by the Swiss Federal Department of Finance, yet also claim that all client funds are held by the Swiss Federal Department of Finance.

Claims to be audited. Searching the audit company's website shows no data on HGNFX or their broker.

Forex trading | CFD trading | Trade FX Online | Currency Trading |zuwywakybobu.web.fc2.com UK

What's the point of being audited by an independent company if that independent company doesn't show the results on their website? Claims your money is held in an independent account, but you are not allowed to place any trades. I might have considered looking at their LPOA and other agreements, but these are only available via email, not via download.

Maybe they are legit, but so far, I feel very far from being convinced. Oct 2, Messages: The account will be in your name , and he just trades that account. After that you can start from the begenning. He cant withdraw any profit from you, and you will be the one who transfer him his profit via wire banking, or by western union, He has a proven record in Zulutrade - Forex Online Trading Systems.

Autotrade Forex Signals by specialists, Manual Forex Trading, plus rewarding Forex Introducing Brokers Program.

You can join him through zulutrade by opening an FXCM account, but he wouldnt take care about drawdown or how many lots your account can handle. So i personally tried both, in zulu and directly with him, and i see letting him taking care of the account is better, as he knows how much i have in my account, and he opens the lots accordingly. For me i considerit the best account manager, as he survive from trading and comissions, and not just from a pip commission if he was an IB of a broker.

Anyway, in case you are interested, and you need more details , let me know. Those actually sound like very reasonable terms. Since the payments are handled externally to the account and you chose your own broker, there's no significant risk of fraud from the manager's side.

Managed Forex Accounts - a must read to avoid being a victim of forex fraud

I would still want to see his performance over an extended period, and to discuss risk management and other issues first. I would also want to have a better understanding of the whole ZuluTrade operation. Do they act as IBs in this case?

Metatrader Expert Advisors, Forex Robots, Forex Signals and Managed Accounts Tests.

If so, that would result in some limitations on the range of brokers, and would give them at least some motivation towards recommending managers with a tendency to overtrade. I don't know enough about them to know if they would give in to such temptation or not. I started with the minimum of USD10,, until i can be sure what is he doing, he just trade 1 mini lot, and maximum 5 to 8 mini lots, which is fine, and u can handle a hundreds pips drawdown I would still want to see his performance over an extended period, and to discuss risk management and other issues first.

Aug 20, Messages: Recomendation I am looking for a very secure account manager, Could you please tell me how to contact this guy?

I am looking for a very secure account manager, Could you please tell me how to contact this guy? You must log in or sign up to post here. Share This Page Tweet. Soehoe is a website scam Sairoong posted Jun 30, FxMaster posted Aug 13, Pharaoh posted Mar 8, Pharaoh posted Jan 10, Pharaoh posted Sep 28, Title Start Date Replies Views Last Message.

Wealth Protection II Pharaoh , Sep 28, FX Brother Jul 15, Striking Back — Ethical Vengeance Against Scammers Pharaoh , Aug 13, Make Your Trading Truly Worthwhile Pharaoh , May 7, Ponzi Schemes and HYIPs - Free Money Traps Pharaoh , Feb 11, Forex Detective Dec 17, Wealth Protection Pharaoh , Sep 22, Currency Strength and Weakness for Monday 29th May — Strength in the NZD pairs for Monday Andrew Mitchem , May 28, Andrew Mitchem May 28, FOREX PRO WEEKLY, June 05 - 09, Sive Morten , Jun 3, After Spike Trade Plans for Week 22, May 28 — Jun 3 Peter O , May 28, Currency Strength and Weakness for Tuesday 30th May — The CHF remains weak Andrew Mitchem , May 29, Andrew Mitchem May 29, Review Moderation or Kindergarten?

AsstModerator , Jun 9, FOREX PRO WEEKLY, May 29 - 02, Sive Morten , May 27, Sive Morten Jun 2, Currency Strength and Weakness for Wednesday 24th May — Time for the EUR to fall? Andrew Mitchem , May 23, FOREX PRO WEEKLY, June 12 - 16, Sive Morten , Jun 10, Sive Morten Jun 16, at 2: AssarV10 EA AlainShm , May 27, AlainShm Jun 21, at 9: Shalaby , May 30, Cheating by XM Ming Thoo , Jun 19, at 6: Ming Thoo Jun 21, at 4: Sanatan Jun 21, at 1: A shady operation called Alldayoption idedwards , Mar 17, AllDayOptions Scam broker - Withdrawal Issues santyforex , Feb 10, How to Build a Forex Trading Strategy Jarratt Davis , Jun 21, at Jarratt Davis Jun 21, at Cheating by Octafx in trade Execution.

XTrade XForex Fraud Ramin , Oct 12, Ramin Jun 21, at 9: FxMaster Jun 21, at 9: Your name or email address: Do you already have an account?

No, create an account now. Yes, my password is: Members Online Now Ming Thoo , mparama Total: Home Contact Us Help Terms Privacy Advertise About Top. We are committed to the fair handling of reviews and posts regardless of such relations. All rights reserved under US and international law.