Today I’m looking at a managed account service the promises to trade on your behalf while splitting profits, FX Viper. This is a service that will require traders to invest their funds directly with them, and then split the generated profits on a “30/70 basis,” in which the trader gets to keep 70% of the returns. It’s certainly an interesting endeavor considering the popularity of the my FX book account, but it takes a lot of confidence in the creators in order to invest directly with them, because they would be in full control of your funds.
The managed account was made available through ForexSignals.com which is owned and operated by ThinkHuge Ltd. The location of the offices aren’t disclosed, but it’s been rumored that the creator of the managed account, Jeff, is located in Toronto, Canada. To get in touch with support, traders can contact email@example.com.
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FX Viper MAMM Review
This managed account service has been running since early 2013. Yet, as I’m doing my research on FX Viper today, it seems as though the service is “discontinued until further notice.” While this is the case right now, I will continue with the review because they have left the door open, so it’s very possible that they will resume accepting retail clients in the near future. With that being said, there is an article with 5 tips for traders that want to trade Jeff’s strategy. In this article he mentions that traders need to understand the fundamental drivers, avoid greed, acquire large account, find a trading partner and “a wife that lets you do whatever you want.”
- Type: Forex Managed Account (MAMM)
- Price: 30/70 Profit Share
- Strategy: Technical
- Timeframe: Undisclosed
- Pairs: EURUSD
The entire concept behind this managed account was the phrase “if you don’t make money, we don’t make money.” The traders at ForexSignals.com stated this frequently in the advertising of this managed account service.
The only mystery now, is why this successful service has been discontinued. They have more than enough followers to continue providing the service, so I would have to assume it has something to do with the provider, Jeff. The man who is behind the trading.
Managed Account Results Overview
One of the main reasons for doing this review today, is because the FX Viper Live Master Account is the most tracked trading system on Myfxbook. It’s actually, the only manual trading system in the top 10. This account is showing a gain of 133%, with a drawdown of 12.81%. It’s been running since June 20, 2013, and is still actively trading today. There are currently 31 open trades for drawdown of -10.49%, but the fact that the account is still being traded leads me to believe that this service will likely be available again at some point in the near future.
In all of the months this strategy has been around, there is only been one losing month, July 2014. Yet, the monthly gain has been quite moderate since 2014. In the first 2 years, this system gained much larger monthly percentages. Whereas now, the Viper grows accounts on average .5-1% per month. Any gain is good gain, but this is not the type of results that gave the managed account service such a big name in the first place.
Well, at this point there aren’t really many options for the conclusion. Considering this managed accounts isn’t available at the moment, we couldn’t recommend the service if we wanted to. So in that case, I’ll be coming back to this review when the managed account service is back up and running to let the Forex community know if I trust this trading strategy or not. It certainly shows promise, but I would like to know some more information about the viper trading strategy in 2017, and what type of approach they will be taking to deal with future market developments. I will be watching Jeffrey Shear’s YouTube channel for updates.
Thank you for reading this review, and please let me know if there is anything you would like to add. I always appreciate your contributions here at Forex robot nation and hope that you decide to come back again soon to learn what’s working for us.