Long Vision FX Review: Scam? Let’s Find Out

Long Vision FX Review: Scam? Let’s Find Out

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In this review, we will be talking about one of the most followed trading accounts on myfxbook. This is known as Long Vision FX. The website hosting the service can be found on this domain–

The trading system in question is intended to provide traders with mid to long-term growth. How do they intend to achieve this? By introducing a system that follows various parameters on different currencies and trading styles.

The main foundation for this trading system focuses on keeping DD very low while not impeding the growth of the account overall.

So, how is Long Vision FX intending to make this goal a reality?

long vision fx review

Long Vision FX review

It appears that Long Vision FX is dependent on a strategy that utilizes diversification of currency pairs traded.

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The developer behind Long Vision FX is called Feycox Development S.L. They are based in Pamplona, Spain, thanks to a physical address which they have published on their site.

Other than this, there is very little information concerning this company or the developers involved in its trading operations.

However, we also see that Long Vision FX has some affiliations with a Forex VPS provider called VPSEnry. But since this website is economical with information, we are not told any more details concerning the developer in either of the two sites. In other words, once we discovered this relationship, our investigations stopped becoming fruitful.

The creator also provides an email address on their site to facilitate communication with their clients. We never attempted to establish contact with them, so we are clueless on the average length of time that their support takes to reply to emails.

It’s also important to note that the Long Vision FX program is not an expert advisor. You should therefore not assume that this is an expert advisor which you must purchase in order to trade Forex successfully.

Just in case you need working expert advisors that make money, please use this list of trading products to search for your preferred product. Otherwise, continue reading.

The services offered by Long Vision FX

Basically, this is a managed Forex account that can be followed on Myfxbook or on their official website, Fey Cox.

For you to take part in their MAM account, you will have to deposit a significant amount of money. This makes it a riskier proposition because there is no saying whether or not your money will make profits for you.

At this point in time, we should mention the exact amount of deposit required to join Long Vision FX program. To be exact, they are requesting for €10,000 or its equivalent.

Now, this is a significant amount of money. We have issues depositing this sum of money to any Forex brokerage firm out there.

However, to counter this fear and ensure that their customers are at ease, Long Vision FX says that they are working with a Forex broker called STO UK. This Forex broker is 100% regulated by the FCA in the UK. Well, this gives us some confidence. But we are still not 100% sure whether we should continue with this service yet.

Once you’re done with signing up, the Long Vision FX program will inform you that they will be keeping 30% of your profits. On top of that, they will charge a commission fee and a 0.2 mark up pip for all trades that are run through their hands. These fees are supposed to be charged on a monthly basis.

However, Long Vision FX does not state whether or not these fees are charged based on high water mark. This makes us wonder. What exactly happens when you experience a losing month? Do they charge the fees anyway? Or is that fee rolled over to the next month when you will have recovered from that loss?

The point is, this area is not clear. It’s the type of question we would be asking them the first time we get into contact with them through email.

It’s important to realize that Forex managed accounts are only good when high water mark fee is involved. Otherwise, it would be unfair to charge a fee even when the account is losing instead of growing.

Break down of product/service features

The traders who run this service use Trend Based High Volatility strategy to trade the Forex market. The time frame used was not disclosed.

They also trade all the major pairs in the Forex market. This means that traders do have a chance to grow their balance on a frequent basis since the more diverse the pairs, the more trade opportunities that show up.

Long Vision FX mentions that their trading strategy works best during times when the market is highly volatile and is trending solidly.

But sometimes they also use different strategies to take advantage of ranging markets, although this is quite rare.

All in all, it’s good to see that these traders are able to recognize and take into account the various market conditions. This can only help them in furthering their goals as far as long term trading is concerned.

Trading results

Over time, we have realized that most trading systems on Myfxbook start very strong and then ease out. In other words, they start with huge profits. But as time goes by, these systems become less productive

long vision fx trading results

However, this is not the case with these traders. We observed that this account was created back in December 2013, and has gained slightly over 600% in a span of 4 years.

When investigating the monthly change section, we see that this system started out with losses before it finally resumed to profits.

This is quite a rare observation because most trading system developers will subject themselves to unnecessary risks in the beginning just to grow their accounts quickly. The higher the equity curve, the more business they get. It’s very logical.

Now that we are in 2017, this system is yet to record a losing month. The best month was in July 2017 where this system netted again of 9.65%.

Long Vision FX by month

Although their managed account service trades most pairs that you are familiar with, we see that this system tends to show bias towards EURUSD, GBPUSD, and USDJPY. This is because nearly 90% of trades taken were initiated on these currency pairs.

But there are also a couple of times when Long Vision FX traders attempted to test different pairs, then failed and opted to stick to the aforementioned pairs.

What this means is that these developers/traders are good at making swift changes when they detect problems. Again, it could mean that the strategies which they use are not as profitable in some currencies, hence they find it convenient to stick to the pairs we just mentioned above.

Our best advice for you

Generally speaking, there are some positives here and there concerning the Long Vision FX program. However, we are still concerned with managed Forex accounts especially when they demand a higher upfront amount.

The thing that you need to realize is that trusting a strange broker with your $10,000 deposit isn’t easy. Also, we’d like to trade 80% or the whole of our deposit using Forex expert advisors, not through Forex managed accounts.

As of now, it is still difficult to give a concrete answer as to whether or not this service is good. We will need more research.

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One Reply to “Long Vision FX Review: Scam? Let’s Find Out”

  1. I have used this particular broker, they do infact charge a high upfront deposit, which for new traders is quite a lot of money! I would say to avoid this broker, they were not exactly that great and there are a lot more user friendly options out there for both new and advanced traders.

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