Surge Forex Review: Managed Accounts Scam

Surge Forex Review: Managed Accounts Scam

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Surge Forex is a company that is offering Forex account management services. The website says a team of proprietary Forex traders runs the company. Further, the team claims they develop automated trading strategies based on algorithmic trading rules. Sadly, the website does not introduce us to these traders.

Investors always want to know who is running a company and the experience they have. This certainly makes the decision-making process much more comfortable. The team at Surge Forex is not doing itself any favor by concealing who they are. Only fully transparent companies can be considered among the top Forex trading solutions.

Further, there are many other aspects to assess to determine whether a product is worth your money. Luckily, we have done the assessment for you. This review will tell you whether Surge Forex is worth investing in.

Surge Forex Review

The website for this company is very professional and aesthetic. The company does a good job of informing clients what they are offering. The website encourages investors to put their money at work 24/7. They claim their proprietary software will generate income for you without lifting a finger.

Surge Forex Review, Platform

Further, the company offers reliable customer support to its clients. You can get in touch with the company through their email at [email protected] Additionally, you can fill out a contact form on the website. Customer support is critical for any company that offers investment services. However, emails can go unanswered for days. It would be better if the company provides a phone number to call them.

Fortunately, the company reveals the physical address of their headquarters. The physical address of the company is 52-54 Broadwick Street, Soho, London, W1F7AH. This means that anyone can track down the company.

However, there is one problem we have with the physical address the company provides. In their terms and conditions, the company states the site is subject to Bulgarian Laws. The site’s use and any dispute arising from the site’s use submit to Bulgarian Courts’ jurisdiction.

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It is not clear where the company operates. If their headquarters are in London, why are they operating under Bulgarian laws? We feel like there is something this company is not telling its clients.

A company that operates in this manner makes it hard to trust them. Legitimate companies see no reason to operate in such a shady way. This company should make it clear to clients where they operate from.

Trading Strategy

There are two main trading robots that Surge Forex is selling, each using a different trading strategy. The two strategies include the Infinium strategy and the Stealth strategy. Both of these strategies are fully automated.

The Infinium strategy is allegedly used by professional money managers throughout the world. Additionally, the website states that this hedging strategy trades through quiet and volatile markets. However, there is no clear description of how the strategy works. The only thing they say is that the bot enters positions based on data from multiple indicators. The company does not say what these indicators are, or the market conditions they are based on.

For the Stealth strategy, the company says it is a 100% price action strategy. They go on to say the take profit, stop loss, and trailing stop is hidden. Moreover, they say the bot uses specific time settings. As you can see, this description gives no insight into the inner working of the bot.

The company is doing a poor job of informing clients how their trading bots work. The Strategies section is full of vague information that has no value to investors. Investors always want to know how a bot works before they invest their hard-earned cash. This is the only way they can assess whether the system suits their portfolio.

Pricing and Features

These bots cost €299 for a single license, €399 for dual licenses, and €525 for three licenses. Both of the bots offer installation support, MetaTrader 4/5 support, and lifetime updates. Moreover, the systems provide clients with automated trading.

Trading Results

Luckily, Forex Surge provides  FX Blue accounts to demonstrate the bots’ trading performance. The trading results are for the two trading bots the company offers. The Infinium bot is showing a 10.4% profit in 182 days. Additionally, we can see that the bot has an average trade time of 41.9 hours for 7.3 trades per day. Further, the win rate for this bot is 70%. The average loss is 115.91, and the risk-reward ratio has an average win of 82.82.

However, the account has a deficit. There is no record of withdrawal. So it is unclear where some of the money disappeared to.

The Stealth bot has a profit percentage of 11.7% for a period of 63 days. The win rate is 91.3%, with an average trade length of 3 days. The average loss of the bot is -78. The bot trades an average of 44 trades in a day and has an average win rate of 6.13 trades.

Overall, the bot is showing a manageable risk-reward ratio. However, we see the same phenomenon as with the Infinium bot. There is a deficit on the trading account without a record of a withdrawal. This is certainly puzzling.

Before you purchase a license, we advise that you take advantage of the company’s 30-day free trial program. Don’t make any rush investments. Try the bots first and see if they suit your portfolio needs.

Managed Account Services

It is not clear why this company claims to offer account management services. The website features no evidence that these services exist in the company. Moreover, the link to read more on these services redirects you to the robots’ page.

Why would a company claim to offer a service that they don’t? Indeed, this is confusing. At the very least, the company should know what they are doing and focus on it. We cannot trust such a confused company. They do not seem to be sure of what they are offering to clients. We cannot expect them to remain focused on satisfying investors’ needs.

Customer Feedback

Sadly, there are no customer reviews about this company. There is no better way to assess whether a product is worth your money than listening to the people who have used it. Sadly, we do not have that luxury with this company.

This is a new company that has not developed a reputation yet. It would be much wiser to wait them out before you invest. It will give you ample time to determine whether the company is worth investing in.

Final Verdict

Overall, these companies seem legit. They have done a good job of informing their clients what they offer and have provided trading results on the website. However, we cannot recommend this company to you at this time. There are a few details they need to iron out before we can fully trust them with our money.

For starters, the company needs to make it clear where they operate from. As it stands, we cannot tell whether they are in London or Bulgaria. Additionally, the company needs to make it clear what they are offering.

Until then, stick with the best Forex trading robots in the market. They will give you the best environment to safeguard and grow your funds.

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