Steady Capture FX focuses on providing Forex trading signals and managed Forex accounts. They tell us that their trading strategy is based on a principle of consistency and professionalism. Since Steady Capture FX has been around for some time (we have been hearing about this name for a long time), we figured out that it would be best to review it here so that we can also provide you with an opportunity to leave your reviews and feedback as well. We always encourage constructive criticism.
The first thing you will notice is that the developer or Forex signal provider is anonymous as their information cannot be traced anywhere on the internet. The only thing that we know is that these guys have been operating under the Steady Capture FX brand since the year 2011. They appear to be based in Canada. We also came across an article which was explaining that “the best Canadian FX Trader on ZuluTrade. All support is provided by a well reputable website called Forexsignals.com. This means that there is no way to reach out to the trade manager at Steady Capture FX unless you contact them through the Forex Signals website. In the meantime, we are advertising those of you looking for alternative Forex trading tools to visit this link.
Having said this, it is in our best interest to analyze this website in details just to find out whether or not it can provide a valuable service.
The team behind this website tell us that they are trading all currency pairs using technical analysis and fundamental analysis. The team has also added silver and gold and also expanded their trading strategy to include multiple time frames. They explain that the reason why they included multiple time frames in their trading is to take advantage of quick scalping opportunities. The Steady Capture FX method is most effective when the markets are ranging, as this is when the software can open very short and effective trades.
The sales page explains that some times trades will last for a week but this is a rare occurrence as most trades are closed within 12 hours of placing them. They tell us that the goal is to maintain a draw down percentage that is 30% or less. They achieve this through excellent money management and stop loss that is employed on every trade. They also tell us that they are utilizing a leverage of 150:1. We need to know how they are managing their risk because there are many different ways through which risks are managed in Forex trading. One of them is through stop losses and another method is through using excellent risk and reward ratio.
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After going through their sales page, we realized that there was no specific price for their Forex signals. Instead, they have provided a guide to the pricing structure of their managed Forex account service. The minimum that these managed accounts provide is accepting as the deposit is one thousands US dollars. At the end of the month, they are talking 30% as commission which is deducted directly from the profits for the month. Our hope with this managed Forex account service is that they will never charge a commission in a losing month because surely a time will come when the money manager is not making any profit. In this case, they should not charge any fee until they have recuperated from the previous losses. But since they have not talked about the method which they are using to deduct a percentage of their investors’ profits, there is no way to tell. We are hoping that they will soon include this information on their sales page. This is good for building trust. Recently we reviewed another service that provides a very similar service to Steady Capture FX. This service is called FX Viper and we are advising you to read this review in order to make up your mind.
The Steady Capture Myfxbook account has been running since early August 2015. In this time, the account has gained 44%, with a drawdown of 7%. In looking at this account, it’s quite clear that the strategy is very low risk. In the 2 years, there have only been two significant drops, but neither of them has been above 7% obviously. In looking at the most recent open trades, I do have a little bit of confusion. These trades are showing over 8000 pips in current profit, with one of the trades showing a gain of almost 12,000 pips. Yet, when I look at the history, the average win is in close to this. In researching further, it does come across like the strategy will from time to time to leave trades open for extended periods of time. The average trade length is 4 days, but this is adjusted drastically by some trades that go for almost an entire year.
If they are holding trades for a long time, then this means that the traders behind this website are swing traders who use long term take profit levels for purposes of maximizing their profits.
We would also like to mention that this team has collaborated with Forexsignals.com. The traders who work here are very reliable and we are thinking that if this corporation is real, then traders should be able to reap good results from the Steady Capture FX team. At the moment, we only need your feedback regarding this service. We see that there is an element of honesty in this operation and it is only a matter of time before we find out the truth.
Managed Forex accounts and signals are a different kind of product. Those who need automated Forex trading tools will definitely go for trading robots. Havings aid this, the service comes across as very low risk and reliable. Only time will tell whether or not we can fully trust them. In the meantime, you can explore these trading solutions to see whether they fit your needs.
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