AscendMarkets.com Review

3.857 • 14 REVIEWS
Out of business
Updated: Apr 13, 2022
Ascend Markets is in liquidation.

January-April 2015:  Multiple highly suspicious positive reviews recieved.

Website is down. Company seems to be out of business.
AscendMarkets.com
Out of business
3.857 • 14 REVIEWS

Recent User Reviews of AscendMarkets.com

P
Paul
Australia, Australia,
Aug 4, 2016,
Guest

Refunded account after 2500 loss told account would be insured
account has not been refunded now ( 4 months on conservative setting )
Jenny is refusing to insure the the account after doing to the letter as she requested .
P
Reply by Jennym submitted Aug 15, 2016:
Our lawyers will contact you, How do you have the audacity to be a non customer yet comment about our service. We already have your email & Checked out database, You are identified as a member from a competitor company. You have done the act of a Criminal offense.
M
Mike Rantala
Alberta, Canada,
Aug 3, 2016,
Guest

Ascend markets is now out of business and still owes me a refund of at least $2500 USD - which they now say they have no money to repay. Lots of excuses from these folks. Do Not Use!
B
Boon
, Singapore,
Jun 28, 2016,
Guest

I don't usually post on forum. But, I strongly feel that I have to do it this time to warning pple out there not to join Ascend Markets Managed Account scheme. What they advertised on their website on profit potential is all blown up! I joined them thru' FXChoice broker with a USD10K account in late Mar 2016. In the first month they managed to gain 10%, but in the 2nd month, they drawdown my account to more than 50%. When questioned, they will give all sort of reasons and not their fault. They promise to recover my account, but it never happen. Instead, it was further drawn down to usd123 in the 3rd month! Even though my account is set at medium risk, they took huge risk for almost all positions. These pple do not have trading skills. Don't ever believe what they say. Keep your money safe with you.
B
Reply by Jennym submitted Jul 19, 2016:
Again for this you are responsible, The problem is that customers like you don't read how the system works before investing. This is very much an autopilot system. Assessing wrong risk can falter very badly.
C
Cater Brown
Dhaka, Bangladesh,
Feb 13, 2016,
Guest

I believe in the fact that an autopilot system can provide consistent returns if they are made by people using proven technology, Ascend mostly trade autopilot, And this is why they are automatically stopping to trade each time my account is reaching 20% returns, I could have got more, But 20% on regular basis is still good on HWM fee method. What's more surprising is that I got answers to emails with In 2 hrs each time.
G
GameBoy
, India,
Jan 31, 2016,
Guest

Ascend Markets proved me wrong, They actually have sent the funds to my personal bank account rather than the brokerage account, And there was a major mistake from my part that it could take 90 working days for the funds to be credited back to my account. Since they are first Equity Management Company to reimburse the funds to me, I will now have more confidence in them, I am wiring back the funds to another brokerage under them,Lets see how it goes !

2016-01-21 2 Star Almost 70 days still no refund to my broker account Tallinex, I wonder when will the reimbursement reach to me. I was believing on their vogue talks for a long time, But now i am done. I was on conservative profile & the Nov-Dec Outrage lost my accounts due to the VPS collapse. They keep on telling that you are on que.
C
Christopher Moore
Columbus, OH, USA,
Jan 15, 2016,
Guest

I have been using Ascend Markets managed account service for 8 months now. The Broker Finfx has been able to help me in understanding and making the most of the algorithms and trading strategies. I have had over $5,000 in gains in the past 6 consecutive trades and my ROI is just over 217%. I frequently contact customer support and they've always been highly responsive and very professional in assisting me. I would recommend Ascend Markets to others hoping to achieve similar results with little to no effort!
O
Oliver
, Germany,
Dec 27, 2015,
Guest

Ascend Markets managed to run my account from $2500 (July 2015) down to $60 within 5 months or basically during the last two trading weeks.
They blamed the loss on two D.O.S. attacks (responsible for a 2/3 third loss), a FOMC decision(!) and on clients withdrawing money without notifying them (responsible for the loss of the last third).
They then informed me that funds are insured but since the risk of my managed account had been set to medium(!) they are unable to reimburse any funds and asked me to deposit the minimum investment again because they are sure they can make the losses back and assured me these funds would be insured.
Their trading has all the characteristics of a novice trader: overleveraging, revenge trading, no proper risk management and they refuse to take responsibility for their trading, blaming it on circumstances "beyond their control".
A money manager should act in the best interest of his clients. To take on big positions without taking into account news events and overleveraging positions just to make losses back is not what you would expect from seasoned traders.
The strategy is simple: take on high risks and earn money if things go well. If funds of clients get busted just ask them to deposit new funds so that the game may start anew. They can only win whereas the client may win but has a high chance to lose it all. That is not trading, that is gambling with the clients money.
Please draw your own conclusions.
O
Reply by Jennym submitted Dec 27, 2015:
Mr Oliver, was told several times before he started investing with us that our system is almost 80% Autopilot, We only take over generally during large news events. He invested in a mini account with a thought of making huge gains, Which comes with leveraged risk. Like any instruments that produce substantial gains can attract losses in the extent that an account can be blown. But the main reason of the loss was due to a System related D.O.S attacked which is already addressed to ally clients properly. We have a clear Contract Agreement with clients. All clients after applying for managed accounts thru their preferred brokers & signing the LPOA, Need to update the risk exposure in our back-office. Those clients that does not update this data is automatically posted under medium risk. We only cover losses when the Risk is set to conservative & The mistake was entirely on our part, And we have already done this in the past by reimbursing a list of clients falling in this category. Oliver even went further by creating stories as below: They then informed me that funds are insured but since the risk of my managed account had been set to medium(!) they are unable to reimburse any funds We never insure any client funds unless he has Deposited for the 2nd Time, It's the job of the banks to do so, I am sure No bank will insure if a client ask for 50% Return per month & thinking this as a Holy Grail, We still have millions of dollars invested under our 3rd scheme They are happy with 15% or More per month, And can be grouped under insured accounts (Commercially). Frankly speaking we also don't get rebates if clients with most of the brokers even for large lot size. Our main revenue is out of the High Watermark Profits as per industry standards. Instead of understanding , Oliver started blackmailing us telling he will post in several forums. May be its high time to give a Legal test to Him. Regards, ASCEND MARKETS Jenny M
B
Baruch Goldberg
Jerusalem, Israel,
Dec 11, 2015,
Guest

Their programming service is top notch and they have completed all the complicated jobs that I have ordered.
C
Cy Gen
New York, USA,
Dec 7, 2015,
Guest

They managed my Tallinex account since July 2015. Only one profitable month in the beginning. Struggled to make anything the rest of the months. Started with $2485. The account now has $209. This was on the conservative setting. They are horrible. Learn from my mistake. Stay away!
C
Reply by Jennym submitted Dec 13, 2015:
The info posted is correct, But did you try to contact our Highly responsive customer service to know the Root cause of this issue. The actual cause was a series of D.O.S attack on our dedicated servers. Our managed service runs on a semi-autopilot system. Some how third parties were able to run attacks on this ip & hence we were left offline & our algorithm did not function normally. Since we have 3 sets of Mam for every broker, These things happened only on few servers & Other accounts were protected. Also it is clear from your comment that you have not reviewed our Terms of Service. We are moving to a New server from New Year. And proud to service hundreds of satisfied Clients. Regards, ASCEND MARKETS Jenny
S
Subir Joseph
West Bengal, India,
Mar 8, 2015,
Guest

23 May 2013, I first discovered Ascend Markets , Since then I have never looked for another opportunity for fx managed accounts, I initially invested the lowest amount, since there were too many scams. But as i got confidence in this service, I raised the amount from my offshore bank in Dubai and funded the account with another 80,000$, since then i have got consistent returns in between 15 to 25% per month in their lowest risk profile. My account has already got doubled as i write this review. Unfortunately I cannot recommend to my friends in India, Since fx trading is not permitted here.