Forex Global Solutions is a managed account service and “alternative investment firm that provides a range of financial services to a diversified client base which includes individuals, institutions and corporations.” They base their service on transparency, fast execution and security. They ensure that the account can only be accessed by the client, so that there is no risk of the funds disappearing. Today we will be providing a review, analyzing the performance reports and letting you know if this service is still viable.
The FGS team established their firm in 2007 based out of the Bahamas, and now claim to have “an established network of agent partners and sales personal in centers around the world.” They are located at 203 lagoon court Nassau Bahamas, and Watercrest Lane Boca Raton Fl 33498. There is a “who we are” page on the website, but there is no clear introduction to any of the traders or analysts. Considering they built this service on transparency, we expect to be introduced to the traders that are managing the accounts. When it comes to services like these, it is imperative that we know who is in charge so that we can verify who they are and determine if they are trustworthy or not.
To get in touch with support, traders can email info@ForexGlobalSolutions.com or call +1-561-807-1969.
Forex Global Solutions Review
The first thing we notice about the Forex Global Solutions website is that it no longer seems active. The last time they posted on twitter was over a year ago, and their last blog post was over two years ago. We understand that this sort of activity isn’t a requirement, but it does give some cause for concern. Ideally, you want to sign up with a managed account service that is active, and vibrant. It is worth noting that the performance reports are still being updated, although they are two months behind in that regard as well.
The FGS team currently offer five different managed account options, and one alternative investment (though this page does not load). The managed accounts are labeled Apollo, Orlando, Cornerstone, Lantana and Danbury. Each of these accounts has a different trading approach, which we will discuss in the trading strategy section of the review.
We do appreciate that the Forex Global Solutions team does provide some detail about each managed account trading strategy. In our past reviews, we’ve found that many service providers gloss over this very important information. The bottom line is, we want to know everything there is to know about a service before we consider signing up.
As for specific strategies, the FGS programs all have different methodologies, listed here:
- The Apollo service looks at key data revolving around interest rates, economic crises, central bank intervention, instability and more to determine market direction.
- The Orlando service uses technical and fundamental indicators as well as alternative data sources to find opportunities.
- The Cornerstone service aims to provide consistent returns but doesn’t tell us how.
- The Lantana service uses a breakout algorithm that makes use of virtual orders when trends appear. It is a trend following approach that will only keep trades open around 24 hours in length.
- The Danbury service trades less common pairs like XAU/USD, but the strategy isn’t flushed out for us.
- Type: Managed Accounts
- Price: Deposit Requirement Undisclosed
- Performance fee: 30%
- Strategy: 5 Different
- Founded: 2007
As it stands, the performance fee for the Forex Global Solutions managed account service is at 30%. This is a normal number, but we don’t have any real specifics of how / when they take it. We would really like to know what the deposit requirement is as well, but there are quite a few aspects that remain unclear.
There is a performance report page, which shows the return statistics for all of the Forex Global Solutions plans. None of these results are verified by any third party, so they have to be taken with a grain of salt. If this vendor wants to be taken serioustly, they will have to upload their accounts to Myfxbook. As, currently they can simply be putting whatever numbers they want here without any reprecussions.
Based on the numbers provided, the Orlando service makes around 15-20% per year, the Apollo the same, the Cornerstone around 30-40%, the Lantana 50-100% and the Danbury 10-20%. All of these numbers are impressive, but again, without any verified results we cannot trust them completely.
Overall, the Forex Global Solutions managed account service has promise, but there are some questions we need answers to. We want to know why their website and socials aren’t being updated, as well as see some real verified trading results. When this is done, we will revisit the review and update our findings.
If you have anything you would like to add to the review, please do so now.