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Finding a legitimate managed Forex trading account provider is not a walk in the park.
It’s actually alarming that many people are falling into the traps laid by fraud perpetrators who end up stealing their investments in what turns out to be a ponzi scheme.
Therefore, every investor has a right to information — that is, a right to investigate and learn what a company like Best Managed Forex Accounts does.
Their domain (Best-managed-forex-accounts.com) is one of the weirdest we’ve seen in the industry.
To start with, that domain puts off prospective investors because it has so many hyphens, thus making the website look unprofessional.
In fact, we can learn everything about this company going by the domain itself.
We formed an attitude against this company the moment we saw a domain with so many hyphens.
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Secondly, this website is so new, which is an indication that the ”asset managers” behind it are also very new in what they do.
We checked their track record to see how well or poorly they’d performed since the launch of this website.
Guess what, we were treated to one hell of a joke. Myfxbook results for Best Managed Forex Accounts tells us that these asset managers have been testing their strategies for 3 months only — which is a very short time to start asking investors for $5,000, on pretext that you will trade and generate profits on their behalf.
Best Managed Forex Accounts has taken the joke too far. We’ve seen asset managers testing their strategies for at least 1 or 2 years before rolling out their services to potential investors.
However, as for Best Managed Forex Accounts, the purported results can’t be used to gauge the long-term profitability of their strategies.
These dudes were clearly in a hurry because they heard that the job of an asset manager is a fancy carrier with huge returns.
Best Managed Forex Accounts is just a group of individuals with no substantial experience in asset management.
To be honest with you, Best Managed Forex Accounts is just a case of every Tom, Dick and Harry putting up shop on the internet and offering managed Forex account services to investors who don’t have time to ask the hard questions.
We’d start by asking them a few things anyway:
(a) Company background
(d) Profit returns
(e) Cost of doing business with them
The website has an ”about us” page which we feel is not any useful as far as learning about their company is concerned.
Instead of telling us how the company started and when it launched its operations, the page is big on how they use technological innovations to address investors’ expectations.
We already know that Best Managed Forex Accounts is offering an investment service that is ”safe, high-return oriented, transparent and low-cost”.
Yet again, these statements are often used for promotional purposes, and may not represent the actual state of affairs when you sign up for their service.
Already this website doesn’t give proof that those benefits are being enjoyed by their investors. But they are hinting the fact that those are marketing declarations from people who love talking as opposed to being result-oriented.
The page does absolutely nothing to tell us about the asset managers who will be ”managing” our funds. We know nothing about their qualifications, hence we don’t trust them at all.
Best Managed Forex Accounts is not registered with any financial organization, although they claim to work with well-regulated brokers.
Again, these brokers are not mentioned anywhere on their website.
It is hard to know whether or not this is true. However, the fact that they are not licensed (yet they are dealing in a financial service) should tell you that this asset management firm is looking to cut corners just to gain a quick buck.
These are the kind of asset managers who mess around with your capital before going under.
And if you think we are overly negative about Best Managed Forex Accounts, try them and see how far you will go with your $5,000 investment.
First off, their trading strategies are not clear. Secondly, long-term profitability is questionable.
Do you expect them to offer cutting-edge performance which can be compared to those delivered by top-rated asset managers on the internet?
Best Managed Forex Accounts website never mentioned anything to do with draw down.
Remember that a managed Forex account requires a contract before anyone can actually start managing that account.
You are supposed to sign that contract only after you have seen the estimated draw down of that asset manager. Otherwise, you will be in for trouble signing a document that doesn’t tell you what to expect in terms of draw down percentage.
How can they forget to state their draw down percentage? Honestly, if an asset manager is skipping out such crucial details, it only means that they are avoiding questions, hoping that you will overlook this part.
But hey, this is your money, and you have the right to know what draw down percentage to expect.
Estimated profit returns! They love this talk because it gives every asset manager the chance to climb on top of a hill to shout unreasonable figures, hoping that a few gullible investors will fall into the trap.
And by the way, profit returns are just as important as draw down.
But since Best Managed Forex Accounts is run by greedy fund managers who have no qualms projecting a profit return of 10-25% a month, one should expect them to skip crucial details because such details raise questions.
Personally, am not willing to commit my money to an asset manager who is telling me about my expected monthly returns but is not telling me about the expected draw down which comes with the strategy they use.
It’s simply as weird as the many hyphens which they use on the domain of this website.
If anything, I would quickly blacklist Best Managed Forex Accounts because they failed to convince me of important matters such as profit returns, draw down, and company details.
Again, we see the element of greed here. See, Best Managed Forex Accounts is charging a 35% performance fee.
Don’t you think this is a little bit on the steeper end? Most asset managers charge 20% or less.
Moreover, we don’t think that this asset management website deserves to be paid that much. Unless they are willing to convince us that they are giving value for their services, there is no need to trust them with your portfolio.
Don’t be fooled by the idea of a segregated account. You will still lose money whether it’s in a segregated account or not.
This is because your asset manager earns commissions when they restrict you to their ”chosen brokers”. They have a special arrangement with these brokers which will see them mutually benefiting from each other.
As for you, they can trade with your money to profit or lose. After all, they have nothing to lose.
The good news is that we’ve been recommending these products for investors who like the idea of asset management but don’t have time or knowledge on how to trade. Sign up to start trading on automation.
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One Reply to “Best Managed Forex Account Scam: Exposing Review on Phony Asset Managers”
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I have lost about 2800 USD trusting these scam Forex experts as they cal themself. I am waiting for a legitimate one and i already have given up.