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Fxstay Review: Is Fxstay.com A PROBABLE SCAM?

Fxstay Review: Is Fxstay.com A PROBABLE SCAM?

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We subjected Fxstay to thorough scrutiny as usual, and it appears that investors are set to lose money with these fund managers who also call themselves ”professional money managers”.

Some of the claims made by Fxstay are as follows:

”We trade with safe risk.”

”We only make money from your profits, no other fees..”

”We make up to 10% return on investment for each trader every month.”

”Losses can be up to a maximum of 5%-10%.”

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”Losses are not involved because we only use a safe risk strategy 🙂 .

Please recall the last two points and see how contradicting these statements are.

Apparently, most investors who join the Fxstay bandwagon tend to ask questions that touch on those claims.

These investors usually want some sort of proof or guarantee that they will not lose money, thanks to the promises made to them above.

Thankfully, we are here today with an in-depth Fxstay review to help investors see through the lies and even think about how Fxstay website is nothing but a carefully-crafted marketing campaign aimed at entrapping victims, ultimately duping them.

Fxstay Overview: A bad idea and this is why

Fxstay is apparently a company that employs ”professional money managers” from around the world — which is the reason as to why they don’t have a physical address — so they say.

Nevertheless, there is a physical address published on the footer of the website which actually says that Fxstay brand is located at 24 Archbishop Makarios Iii Ave Limassol 4001,Cyprus.

Again, here’s a case where a purported money manager is contradicting himself, forgetting that they had stated their physical address before.

Should we believe that Fxstay is actually located in that physical address? Well, chances are that it is not.

Or maybe the issue of their location is not a big deal. Then how about mentioning the fact that you cannot contact this ”serious professional money manager?” through phone?

It came to our notice that FXstay is only supporting email communications and not phone calls.. hence the reason why they don’t have a phone number on their website.

Moreover, there are grammar errors everywhere on this website. Go to their FAQ section and you will have a rough time trying to understand whatever is being communicated there.

Is this a weird thing to happen on a website which claims to be operated by a world’s reputable money management brand?

Very soon, you will hear stories of people who got duped by Fxstay. In fact, Forex Peace Army forum already has numerous horror stories of how some clients lost money to this illegal scheme.

Past Performance and other nitty gritty details

Fxstay is the type of money management service that doesn’t show past performance results on demand.

Their excuse?

Past performance does not reflect future performance, hence there is no need to give them out.

fxstay faq page
Fxstay FAQ page. Notice no 20

Really?

In another part of the website, they claim that it is against their policy to produce past performance results.

And now we can’t help but wonder: isn’t it the right of every investor to be shown these results before they can part with a large sum of money like $100K?

It was not until we came across this page fxstay.com/open-forex-account/ that things became apparent that this money manager says one thing and does another (how much more do you think they will mess up with your capital?)

In that page, they listed ”best performing Forex managed accounts” with screenshots of their MT4 performance.

fxstay past performance
we have Performance record now

These guys just breached their ”no-producing performance results” policy.

Company is not regulated

In an ideal world, this money manager’s activities would have been subject to the requirements of a financial regulatory body.

You cannot claim expertise and professionalism in managing client portfolio when you don’t have licensing. It’s illegal.

Secondly, this licensing guarantees that client funds are sort of insured just in case things go haywire.

However, Fxstay has worked around this requirement by stating that Forex trading is a risky affair and that clients should not always expect profits.

But why did they say that their ”professional traders” only use safe risk management strategies to ensure that their clients’ funds are safe at all time?

Think about it and you will come to the realization that Fxstay is insulting your intelligence at best.

What are their products and services?

While money management is the general term used to describe what they offer, this money manager has a number of products or services for those who wish to ”invest” with them.

Accounts range from mini to Gold VIP which is the greatest of scams in human history. Why are we saying this?

Well, if you look at the features of their mini account which requires a minimum of $1,000 to get started with, you will see that this account’s investment strategy is extremely risky.

Fxstay says that they use aggressive investment approaches to double or even triple profits in the shortest time possible. That is the reason they have to risk a big amount.

Essentially, Fxstay is saying that their safe risk management strategies don’t apply in the case of clients who choose this product.

On the other hand, their Gold VIP account which requires $10 million minimum investment  is described as the safest and most profitable product to invest in.

This product obviously targets high net worth individuals who are not willing to think twice before giving their money to a ”professional money manager” who doesn’t even have a phone number on their website.

The company also claims that they often collaborate with banks and other financial institutions to open Forex accounts without cash.

That’s a very new concept to us by the way, and we don’t think it’s practically possible to trade in such a large scale on loan.

What if they lose that money? Who pays the loan? Think about it.

More lies along the way

Their FAQ page states that Fxstay doesn’t charge any fees. However, if you look at their product description, the website states that a performance fee is applicable.

That performance fee is sugar-coated as 50%-50% revenue share.

Well, if these guys are so good at making money in the Forex market as they say, why don’t they just trade for themselves instead of ”helping” other people?

Their success rate is between 80-90% — according to their claims.

Anything beyond 80% is a very very good success rate. In fact, any fund manager that can produce such outstanding results will guarantee you profits each month regardless of the amount invested.

The problem is that not very many fund managers are able to maintain such a high success rate, hence many of them earn a living by scamming unsuspecting investors.

And the game is quite simple to play. Once they gather a few investors, they divide them into 2 groups. The first group will have their accounts traded for a particular currency pair in one direction.

The second group will have their accounts traded in the opposite direction in relation to the first account.

In that sense, either of the groups have to emerge winners. That way, scammers can easily convince the winners that they have a 90% win rate and that people should trust them with their investments.

Our Best advice for You

If you’re still itching to enjoy your share of ”Forex Managed accounts profits” we advice you to do your homework well.

However, if you’re tired or are afraid that you may be scammed in the process, we implore you to use these products instead.

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