Today I’m looking at one of the most followed trading accounts on Myfxbook, Long Vision FX. This trading system is intended to provide traders with mid-to long-term growth “using strict parameters and a wide diversification of currencies and trading styles.” One of the main aspects of their trading methodology, is to keep a very small drawdown without sacrificing account growth.
The creators of the software are Feycox Development S.L., C\ Concejo de Egüés 24, 3ºB, 31016, Pamplona, Spain. There is very little information about this company online, or the developers. I found that they have some sort of affiliation with a Virtual Private Server company called VPSEnry, but that’s where my research stopped becoming fruitful. If you have any further questions, you can always email the creators, at firstname.lastname@example.org.
Long Vision FX Review
Unlike most of the systems that are review here at Forex Robot Nation, the Long Vision FX program is not an EA. This is a managed account that can be followed directly on Myfxbook, or accessed via the Fey Cox website. To become part of the MAM traders are required to deposit a significant amount of money, which makes this a riskier proposition.
In order to qualify, traders are required to invest €10,000. Personally, I have concerns investing such large amounts of money with any brokerage, but they do claim that the STO UK brokerage is 100% regulated by FCA (UK). This does some to put my mind at ease.
After signing up, Fey Cox will keep 30% of all profits, a basic commission fee and a .2 pip markup on all trades. This fee is calculated on a monthly basis. The one question I would have regarding these fees, is if there is a losing month I wonder if that is rolled forward to the upcoming months to ensure that commission isn’t taken until the losses are recovered. This should be the type of question I would certainly email about before registering with this Forex managed account.
- Type: Managed Account
- Price: €10,000 Deposit
- Strategy: Trend Based High Volatility
- Timeframe: Undisclosed
- Pairs: EURUSD, AUDUSD, CORNSE, EURAUD, EURCAD, EURGBP, EURJPY, GBPCHF, GBPJPY, GBPUSD, USDCAD, USDCHF, USDJPY
According to the sales page, the Long Vision FX performs best when the market is showing high volatility and the trends are strong. The traders at Fey Cox also tell us that they will sometimes utilize different strategies that can take advantage of ranging markets, but this is less likely. It is good to see that they have the capabilities of trading and recognizing different market conditions because this will certainly help them in the short and long-term.
Most of the systems that I analyze on Myfxbook have a very common thread. They start very strong, and then over time get less and less productive. This doesn’t seem to be the case with Long Vision FX. The account was created in December 2013, and shows a gain of 217% in the following 4 years. In looking at the monthly change section, we can see that the system actually started off with a couple of losing months before hitting profit. Again, this is very rare to see as most system creators will frequently take big risks in the first few months to try and bolster their accounts. In 2017 the system has yet to show a losing month, with July being their best at 9.58% profit.
The managed account attempts to trade different currencies, but for the most part focuses on the EURUSD, GBPUSD, and USDJPY. These currencies account for over 90% of the total trades taken. There are a couple of occasions where the account managers tested different currencies, failed and then decided to stop trading those currencies. This shows that the Fey Cox traders make swift adjustments when currency pairs aren’t proving to be profitable.
There are certainly positives to be taken about Long Vision FX, and the Fey Cox development team. My only real concern has to do with managed accounts in general. Personally, I don’t have a lot of faith in trusting $10,000 deposit with brokers that I don’t currently have experience with. For the most part, I want 80 to 90% of my total deposit to be traded by Forex robots because that’s where I am most comfortable.
Please let me know if you have anything you would like to add, and hopefully we can hear some experiences from real clients.