WinFX is an automated trading service in the Forex market that wants to empower traders with the use of artificial intelligence. The vendors feel trader should “spend less time managing your investments and more time doing what you love.”
The group is located at Moor Place, 1 Fore St Ave, Moorgate, London, EC2Y 9DT. They first established themselves in this market in 2018, and their mission is to help traders succeed at any cost. Despite images of their offices in their “culture” page, they don’t appear to provide any specific information about who they are. It would be nice to know the creators of the service, and what type of history they have in the Forex marketplace.
In order to get in touch with support, traders can email email@example.com or call (+44) 020 7164 6938.
It’s not completely clear how the WinFX service works. We know that it’s not an expert advisor or Forex robot, and the automation comes via copy trading instead. So, the service will trade for you, but not in the way that you are used to. They do have a page dedicated to “how it works” as well, which helps.
Clients choose an account type and setting, open their account, and then watch the investment grow. The team claims to have helped their clients gain anywhere froom 2.5% to 10% per month “depending on the risk-rewards settings.”
Despite reading the entire page, it still isn’t completely clear how it all works. The basics of it, is that an AI trader connects to your trading account, and trades on your behalf. Though, it would be nice to see the “settings,” and have more information about how to go about making adjustments. It’s all fairly confusing, and they would likely be better off just providing a Forex robot, like you can see from our recent reviews of Forex Olympus or Arya Trader.
The WinFX team claims to use similar technology to Google Deepmind’s AlphaGo, which uses ” a combination of deep learning, supervised learning and reinforcement learning algorithms for algorithmic trading.” Then, the system uses in-built strategy that analyzes market conditions, trading patterns and similar trading scenarios to pick winning trades.
This is all well and good, but the explanation uses a lot of buzzwords and doesn’t get into any real detail. They don’t mention any Forex methodologies, and just give a general overview of automated trading.
We would like to see something more substantial that proves this group knows there way around a Forex chart.
- Type: Copy Trading
- Price: Undisclosed
- Strategy: AI
- Timeframe: Undisclosed
- Pairs: EURUSD
In order to acquire the WinFX service, clients are required to open a new trading account. They don’t give any specifics about the account on the website, but if you go to register you will see the options available. There are three packages, conservative, moderate and aggressive. None of these packages are explained or attached to any trading results, so it’s difficult to choose from them.
In terms of the account, traders are required to deposit at least £10,000, which comes with a performance fee of 40%. The performance fee isn’t described in much detail either, but they likely just take 40% of the winnings at the end of each month. In this way, the service comes across more like a managed account program, like Top Global Traders or Xeconds.
The WinFX website has a “track record” page, but sadly this page is no longer available. They are actually linking to a page that doesn’t even work, which is certainly a shot at their credibility.
At the bottom of their site, they do link to a Myfxbook account, which shows three different trading strategies, but no systems. This means that they have done some backtests, and uploaded those backtests. In 2020, backtests are increasingly reliable, which means we require much more.
In order to be confident in a service, we expect to see some actual trading, whether that’s on a demo or a live account. This vendor isn’t providing either, which is certainly a concern.
The majority of the WinFX presentation is very professional. They provide a lot of detail about artificial intelligence, and their goals to help traders through automation. Yet, they don’t give us any real Forex strategy details, and they have no verified trading results at this time. There is certainly a foundation here, but they need to keep building on the blocks in place if they want to be taken seriously.
If you have anything you want to add to the review, please leave your comments below the article now.
WinFX 10,000 Deposit
WinFX is a managed account service with different trading approaches.
No verified results