Managed Forex With Us is a managed account service that promises easy returns via its diverse range of services. The company provides copy trading and signals, besides its managed FX account services. It terms its service as manually managed robotic trading and claims to have a unique diversified risk process where the risk and reward are distributed among the entire participants of the account service.
The company is led by Norbert Zoltan Nagy and other team members including traders and programmers. Images of the team members along with their email addresses are present on the official site. However, the company does not provide a location address or phone contact. To get in touch with support we have to fill out their online contact form.
Features
The main services offered by this company include managed FX account, development of EAs or robots, Trade copying, and signal generation. Besides these, the firm also offers an affiliate program and services to FX brokers. The managed account is the main focus of this firm and it requires users to furnish their MT4 account details wherein the service manages the account for a specific fee. There is no mention of the strategies used by this firm or an explanation of the trading approach.
Instead, the founder Norbert Nagy explains how the strategies of the manual traders are converted into FX robots to eliminate the emotional quotient in trading. With the input provided by the manual traders, the programmers can make changes in the automated systems, which make them successful in any market condition as per the claims of the developer.
How to start trading with MFWU (Managed Forex With Us)
On the working method, the vendor states that on contacting them, they will provide a broker link and you need to just give your MT4 login credentials and they will take over the managing of the account. As for the charges, the vendor does not reveal the exact price or percentage as is common with such services. Instead, the company mentions that the fee is negotiable. For the trade copying and signal services, the company charges a subscription fee of $50 per month. No other details are present regarding the services they offer which makes us suspect this is not a reliable firm.
Backtests
Proof of performance is vital to place your trust in a service. Backtests and verified track records are two important aspects that such services provide to prove their efficacy. This company, however, does not provide backtests.
Strategy tester reports are based on historical data and are not predictive of future performance. But traders look for the backtests as they provide a good insight into the system and its efficacy. The absence of backtests makes us suspect this is not a dependable service.
Unverified trading results of MFWU (Managed Forex With Us)
For performance proof, the firm provides links to the systems used by each of its team members. Here is a screenshot of the performance report of the combo system found on the Forex Peace Army site.
The report indicates trading done from October 2020 up to December 2021. For a deposit of $15008.91, a net profit of 30913.03 is present and the maximal drawdown is 20.50%. The total number of trades executed is 2526 with a profit factor value of 2.03.
We can see that the profit trades make up 81.71% of the total trades. From the given stats, it is clear that the system has average profits and not the high returns that the vendor promises. Furthermore, the sample size is very small so the actual performance cannot be assessed from it.
Customer reviews
We found three reviews for this firm on the Forex Peace Army site. Here are a few of the feedbacks:
From the user feedback, we can see that the account management is not good and that the user’s account was blown fully with the firm not refunding the loss. Another user is satisfied with the performance and recommends it.
Is MFWU (Managed Forex With Us) a viable option?
From our evaluation of the service, we do not find it a viable investment option. Here are the main reasons for our decision.
Advantages
- Offers a diverse range of services
Disadvantages
- Does not divulge the strategy used
- No verified real trading results
Conclusion
MFWU is a service that offers a combination of robotic and manual expertise to its clients. Our assessment of the service, its features, price, and other aspects reveal that it is not a trustworthy service. The failure of the firm to reveal verified trading results and the absence of backtests indicate it is not a reliable system. Furthermore, the lack of transparency in the trading approach and price also indicates this is not a firm you can trust.
