Managed Forex Ltd is a new MT4 based managed account service looking to provide traders with impactful trading systems and “alpha returns.” Their fully automated trading approach utilizes an institutional class expert advisor, which they believe gives traders the opportunity to make use of their “experience, knowledge and professionalism.”
The team is located at 50 Clooney Terrace, Londonderry BT47 2TQ, UK, and can be contacted via email, email@example.com or phone +44 (0) 2895817456. They’ve been established in the Forex market since 2014, with contributions from their CEO Greg Hay, senior trader Kyle Hay, and HR manager Ian Wallace.
Managed Forex Ltd Review
The creators of the Managed Forex Ltd service feel that there are 3 important elements they accomplish, that other managed account programs fail to offer. The first, is their low minimum startup which is €5,000. While this may seem expensive, it is actually below the market average for managed accounts. Traders are also able to add funds to their account at any moment in time. The second, is their transparent fee structure. This service is provides a clear breakdown of their fees, and have no problem explaining them in full detail via phone or email, much like TopstepFX. Lastly, is there promise of competitive returns. The team claims to provide a 4.5% average return per month, with a drawdown below 20%.
The Managed Forex Ltd system utilizes what’s described as a “100% automated Metatrader 4 based algo strategy.” With this approach, the system is designed to trade specific assets while following the built-in money management rules. They followed an 8 step process in the development of their strategy, “(1) Formulation, (2) Specification in computer-testable form, (3) Preliminary testing, (4) Optimization, (5) Evaluation of performance and robustness, (6) Trading of the strategy, (7) Monitoring of trading performance, (8) Refinement and evolution.”
The strategy itself isn’t specified in much detail, but it is a positive aspect that the management group claims that they train the client on using the software via Skype and email.
- Type: Forex managed account
- Price: Performance fees
- Strategy: Algorithmic
- Results: Undisclosed (requested)
In terms of price, the Managed Forex Ltd service charges no management fees, just performance fees. They tell us for, “accounts €25,000 up to and including €250,000 performance fee rate is 25%. For accounts greater than €250,000 the performance fee rate is 20%. There is no detail as to what the performance fee is for accounts below €25,000, so this is likely something you would have to email about before signing up. Based on the numbers I’m seeing, I would assume that the performance rate for accounts around €5000 is around 30%, which is quite prohibitive.
In order to gain access to the Myfxbook accounts traders have to send in an email request to firstname.lastname@example.org. There is no real explanation as to why these accounts aren’t provided upfront, but it’s likely just a way to get in contact with more leads. That being said, there are screenshots of a Myfxbook account on the website, but when a direct search on the Myfxbook platform comes up empty when looking for this user, or system, which is concerning. Below is the screenshot, but this is not verified, so don’t rely on the image as proof.
In order to complete this section of the website, we’ve sent in an email request, so hopefully we get access to these results soon, as we have received results in the past from other vendors like Shamayal and FTMO, successfully.
Thus far, their client feedback is very positive with a 4.4 rating over 27 reviews.
The one negative review (source: fpa) does shed light on the trading results issue. Firzjoe writes I “Don’t understand reviews with five stars about the way they trade? We can not see the trades… Broker Tell me to talk to managedforexltd to have access of the trades.. Managedforexltd tell me to talk to the broker to see them”
This trader is voicing displeasure in the fact that he can’t seem to get access to the vendor trading results. Hopefully this isn’t the case, because we are expecting to add these performance numbers to this review as soon as we receive them.
The recommendation for the Managed Forex Ltd really comes down to one aspect, the performance results. At this point, we don’t have access to any of their trading records, but hopefully this is provided by the vendor soon, and then we can add it to the review. Without seeing how the accounts have performed since 2014, there is no way to draw any real conclusions. It’s worth noting that the vendor is professional, and the website is well put together, but these are more tertiary aesthetic elements. They are significant, but not overwhelming in the final determination of a Forex managed account service.
If you have anything you would like to add, please leave a comment with your remarks and experiences.
Managed Forex Ltd Performance Fee
- Price - 65%65%
- Strategy - 65%65%
- Trading Results - 25%25%
- Client Feedback - 95%95%
- Customer Support - 85%85%
Low minimum deposit
Vague strategy explanation
These people are a scam. Within 2 days I lost nearly a third of my account. Don’t believe their myfxbook accounts and don’t believe anything Ian Wallace tells you. Stay away.
AGREED, SAME HAPPENED TO ME.
Think this offer better than 6.7
Doesn’t cost anything to join so price is zero.
Not many better managed account that I found after many years
Please show us your results.
FRN admin please contact us email@example.com
We will give you myfxbook access so you can update your site.
Please provide it here.
performance at 2.5/10?
Must be a mad mistake. this track record is 4+ years with 5% month,…….
More like 9.5/10
Feel free to show us those results via Myfxobok Lars. The reason for the low rating in this 1 category, is the lack of transparency.
Who cares about myfxbook. Fxblue is better for exporting.
There are some strange FX Blue accounts, we prefer Myfxbook for verification.
no i cant share my account because i dont have investor password to publish it.
But in the broker user area I see trade history and balance, open trades etc.
they cant give client investor password because client use history for other social trading sites….etc
But the performance is very good, i think better than 2.5/10 :):)
Hi Mastro, yes the 2.5 was due to not seeing any results. It will be increased. Thanks for your feedback.
yes, they used to do myfxbook but they wrote me and said they get over 300 unique IPS logins to Mt4 account when they enter investor password. So they said it not secure, they are sharing the password and making a copy trade, so they will not use it again.
I got used to fxblues now.
That’s interesting, but it doesn’t make a lot of sense to me. I don’t see that as a valid reason not to use Myfxbook.
Yes, because they use myfxbook for 2015+2016, then they switch to fxblue in 2017 and 2018.
I have small account there (€6.7k)and does be the same as fxblue…so i think its not a problem for me.
At end of day, if they have a grudge or something against myfxbook, i have to respect their choice.
But results are good,this is what count for me.
Is it possible for you to share your personal account? That would go a long way here.
They have public performance here.
Pin is 0300.
I track it all the time.
They are real figures.
They have myfxbook too they sent me but they prefer to share fxblues.
This looks good but I prefer Myfxbook, can you share that Mastro?