FX Managed Accounts is another pyramid scheme that is only after traders money. The company alleged founder is Tom Flora. He brags of having adequate knowledge in Forex trading. Additionally, he credits his team for working with him in developing trading strategies and programming EA.
Unfortunately, on their website, they do publish the team of experts that he is boasting about them. Without having a portfolio that shows the background of these workers, we can only term this as false allegations.
Tom additionally assures Forex traders that he provides them to acquire adequate knowledge by teaching them how to acquire a trading skill. For novice traders, they offer learning lessons which they use simulators which teaches how to trade individually. After finishing the lessons, traders can choose if they want to proceed with FX managed account or even trade for themselves.
The company charge a certain monthly commission of 40%, which depends on the high watermark. If you do not make profits, FX managed account does not take a cut from your earnings. The platform utilities the expert advisors and manual trading to achieve high returns in their trading activities.
The founder of this company does not reveal the trading condition. We are not aware of the risk or the safety that the platform offers to users. It is also unclear if Tom is working with other traders. The least amount that you can deposit in FX manage accounts is $10000. Despite this being a scam platform, the owner mocks those who cannot raise the amount by stating they should not be trading.
The statement is very negative and misleading since they are many legit Forex trading brokerage the market taking less than this amount. The brokerage are also genuine and offer better quality services.
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The average rate is $250. It is ridiculous that this company has no reputation or trade history, yet they brag that they are the best in the industry.
Tom is misleading traders with his statement since many people have been able to make a decent return just by trading smartly. There’s no evidence that FX managed accounts are paying traders. We should not struggle to look for success stories from this brokerage.
For starters, it’s a big fat joke that the founder of this company asks for a very high initial capital that is hard for the majority of traders tirades. Considering that the company has no reputation, no expert trader would risk such kind of money in this pyramid scheme.
Tom expect us to believe his word blindly. To hide his inability to provide his performance report, he states that past performance does not represent features performance. The statement is true, but since he’s selling his services to the public, it should not be an excuse.
Performance report gives you an insight into how a company has been faring on in the past months and years. Additionally, Tom brands of trading since the 90’s logically speaking anyone who has such an experience should know better than mock traders who cannot raise a ridiculous amount as capital.
He should be helping them to gain knowledge in trading. Anyone who has been in the market this long should be able to comprehend and put down facts on Forex trading. Tom is only after traders money. Even his financial narrative does not make sense.
FX managed accounts only have sales content on their web page; no Forex services are being offered. The website also seems it was designed in haste. Tom failed in spending time professionally compiling the information.
The platform brags that they offer excellent customer support services. The information they have on their website indicates they are a profitable investment destination.
They fail to disclose the monthly profit that traders expect from their trading activities. The States will charge 40% of the total earning. Sadly, there is no information on their model of trading. All this loophole shows that this is not a trustworthy Forex brokerage firm.
The company does not show the currency pairs or the leverage that they offer clients. Without knowing this better, you look for other entities.
The company is located in the US. Tom is ready for business as he has provided his Skype and telephone number that clients can use to contacts the support.
The telephone number they have displayed is 251-591-2181; the email address is [email protected] Additionally, you can mail them at PO box 13 Dryden VA. 24343
However, we do not know the response rate of customer support. This being a pyramid scheme, there is a high likelihood of losing your money. Hence, they will only respond when they want you to cash more funds. They will blacklist you after they are done scamming you.
FX managed accounts is operating against the law. They are not on FCA, NFA, ASIC, or CySEC list of regulated companies. They don’t have a licence that permits them to carry out their financial activities.
It means that your money will not be safe in the hands of these fraudsters. Once you deposit money, there’s no method of getting it back. Since you’re sending it to anonymous people and directly to their account, you need to perform a due diligence test before venturing in an online platform.
The person who is behind the operations of this Ponzi scheme is somewhere in the US. The company was registered on February 2011 and will expire on January 2021. Unfortunately, the founder’s information is hidden from the public.
As you can see, FX managed accounts has been in the industry for the longest time possible. Refrain from trusting them with your funds is there is no proof there are any investment services taking place.
There is nothing legit about FX managed account. It will be unwise to trust Tom Flora with 10k without having a track record in Forex trading. The amount that he asks you to deposit is too large, and the majority of traders cannot afford it so
Furthermore, traders who can afford this amount of money will shy away from trusting an anonymous person. The founder target people who have no adequate knowledge of Forex trading. Despite this being said, they do not disclose the returns that you will receive as maturity period.
It is almost a decade since this platform was launched. We find it ridiculous that it does not have any performance links. Fund managers in the industry need to show that they can handle investors money and even give them reasonable profits in return.
FX managed accounts does not have live trading proof. Invest in a company that can link their performance. Myfxbook accounts will help you to determine how the platform is doing in the market.
FX managed account is a Ponzi scheme, so that is operating anonymously. They said that their owner is Tom, but they don’t even provide substantial evidence or the qualification that he process to gain the trust of traders.
Venture with a top Forex brokerage firm in the market that have a history. The founder asks you to deposit a large amount of money so that they can steal it all.
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