world4x.com

[petersurrey]

I would be grateful to hear if anyone has heard of the above outfit. They claim to have the best forex autotrading system and have posted some impressive results. However i am always suspcious of sites which put up a profit calculator. They are based in Canada and say that their system will be available in Mid may. All that is required of from the trader is that you deposit your funds with them and they take 10% of any winning trades in commission. Another worry would be entrusting my fuinds with a realtively unknown company. The trading is done via their system and each account is traded seperately so that funds can be accessed any time. :?:

 

[Roberto]

I haven't heard of them and am casting no specific aspersions.

All that is required of from the trader is that you deposit your funds with them and they take 10% of any winning trades in commission.

It would be terribly easy, given such an arrangement, for the "manager" to clean up, n'est-ce pas?

All they have to do is trade 50% of the accounts in one direction and 50% in the opposite direction, entering trades as often as possible in whatever market looks most volatile. They make a steady, reliable 10% of 50% of all trades they do. Risk free. Hmmm ... I am in the wrong business ...

(Of course, you can only do that trick if each account is traded separately!).

 

[petersurrey]

Very clever Roberto -you are definately in the wrong business :cheesy: What I also question about these sites is when they have multiple links to other sites in direct competition to them -i assume they get a tiny commission or each hit?

 

[Roberto]

... when they have multiple links to other sites in direct competition to them -i assume they get a tiny commission or each hit?

I'm not sure if that's how it works. I think it might just be that they get their website supplied and hosted free if they agree to display those "Google ads" ... have never really been clear how these things work, myself ...

Regarding world4x specifically, I've just noticed that there's a 5-page thread discussing them over at fx-review.com .

 

[sr3d]

i agree with Roberto. A real professional should not have those GoogleAds on the side. If you do big money business, why bother with pennies?

I'm reading the fx-review page now and see what people think of that service.

 

[sr3d]

well, it seems to be a legitimate service and the guy named Rick seems to be nice too. I will definitely watch it and see. I still feel that it's too good to be true, even when an average of 20-25 pips per day is possible.

 

[petersurrey]

sr3d -my browser won't accomodate fx review for some reason -what makes you/them think it's legit and do they know which broker is involved at this stage? By the way fxwintrades.com takes some beating if you are looking for an excellent signal service-not yet autotraded however.

thanks!

 

[sr3d]

based on the questions asked on the FX-Review forum and the answers provided by Rick, who stated that he's the owner of the service, I feel that he's quite honest about the service. However, he doesn't explicitly say what broker he's using for the service besides that fact that he mentioned his broker offer a spread of 2 for some pairs.

If it's possible, can you start a new post about the fxwintrades.com and keep us informed about the service? I am currently signing up for TAPSEP and probably will create a thread about its performance soon.

 

[petersurrey]

Ok thanks - looking at their results page 900 pips for just 2 weeks just seems too good to be true but who knows? I have been monitoring many systems recently as i said fxwin takes some beating and yes it's a great idea to start a new thread. They appear to have hit on the winning formula regarding great entries, careful trade management once in and incredibly low drawdown to date. They trade the EUR, CHF and GBP and the main winner to date has been the EUR.They have 6,500 members to date and this has doubled in the last few months. They used to respond to e-mail directly but now can not due to the strong interest in their service. i am not sure how so many traders may affect their long perfomance but preumably it's still relatively small amounts compared to the big boys. If you sign up they'll send you all the updates direct via e-mail. They have regular updates regarding their future plans and I am hoping they will autotrade this service so that 24 monitoring will not be necessary

 

[bigcat]

Got an email yesterday from Rick saying their registration with the National Futures Assn is taking longer than expected. New launch date is May 15.

By the way, I think the scam of trading 50% of the accounts in one direction and 50% the opposite would quickly become apparent when people checked the results posted on the website and 50% discovered theirs were wrong. If you read the fxreview forum it would plastered all over there too in short order, and likely here as well.

 

[Roberto]

sr3d -my browser won't accomodate fx review for some reason

You can try their "other url": www.geocities.com/fxreview (note: no hyphen between "fx" and "review" in this version of the url).

 

[petersurrey]

Good point big cat - but it does beg the question as to why someone would want to share such a lucrative system with us menials when they could either trade it themsleves for small fortune or sell it to an institution for squillions -I am having the same problem with fx wintrades who also offer an oustanding signals service which they are hoping to autotrade....lets asuume they are just all altruistic....

 

[petersurrey]

Many thanks Roberto -much appreciated and a very informative site for those who are interested in signals services.

 

[firedave]

You can try their "other url": www.geocities.com/fxreview (note: no hyphen between "fx" and "review" in this version of the url).

Well, that's what I got when use a free webhosting :| I should move it to the paid one