NOTES: Managed accounts appear to require opening account using affiliate link to broker This would mean that AlonFx gets a cut of the spread on every trade in addition to a performance fee on new profits.
Disaster. Everything gone now. Stay away.
2010-12-23 2 Stars I started a managed account with AlonFx on the 11th of November with around $1,560 USD (at the peak) and sadly the account dwindled very quickly but at the start of December it fought it's way back to parity then surged as high as $1,840.
Unfortunately, now it's down to nearly $1,200 USD. I'm hoping things turn around in January. Will keep you posted.
Opened an account 30/10 on Dec 2010. One month later it was 35% down and the changed it to Frequency Account. Today it is 97% down with no possitive month. Stay away
I started Frequency account last november, and the first two months were positive. Starting from January they started to loose money more and more, making very awful trades. I closed my original 23000$ account on March, with a loss of 3000$ dollars. Very bad experience.
I also opened 3 accounts, All were an unmitigated disaster. I also suspect they dont know what they are doing. Taken all my funds out at a great loss.
I have a previous review posted on this subject which had a five star rating attached. Since I posted, my account started to diminish rapidly. I got the impression that whomever was making the previous good trades had left the company and whoever was left were just gambling with little idea of money management. The losing trades were going way over where their brochure indicated as their strategy, they closed trades with things like $0.08 profit. I closed my accounts about $800.00 in profit after five months. They made more money out of my accounts than I did. Judging from other posters experiences after I closed my accounts, I was lucky to get out when I did.
2011-01-11 5 Stars AlonfX Premierx account.
Current Balance $15041.16
Opening balance October 01 2010 $9965.0
2010-12-21 4 stars I opened an AlonfX managed account at Fxcbs with an initial deposit of $9965.00
first traded on October 01 2010. Current balance is $13174.43.
Profit = $3209.43 after their profit share take of 30%.
Looks good so far but of course the if next few trades are negative they can reduce the balance, but so far the positive trades have exceeded the bad
I opened an account with them and over a 3 week period my account has dropped more than 30%. No explanation, no communication at all. It makes it very hard to believe their past preformance claims.
The Frequency account is back down below October levels now having nothing happen -3.69% in January and 0.53% in Feb, then -20.98% in March and -14.43% so far in April.
I put in $1,500 into to ill fated 10/30 system, which when that lost over 30% with multiple neg months they closed down and offered to move my balance to Frequency now since I was put in there that has dropped close to 40% so not sure these guys now what they are doing.....http://www.myfxbook.com/members/alonfx/frequency/76384
I have had a pretty miserable time with these managed accounts. I opened 3 with alonfx. One of them, the 30/10 scalping account dropped by 40% or so, so they converted it to another type of account which has since kind of stabilized.
The worst performer by far though was their 'premier' account which started @ 10K and is now barely above 8K after only a couple of months. STAY AWAY from this for now...their numbers last year looked too good to be true, but they have had a miserable miserable journey since late last year.
I don't know if there's any kind of scam going on, but at best it has been hugely disappointing. I have tried to email them to try to see what their excuses were but haven't heard anything back...today the account dropped $427 so I'm shutting it down.
I'll keep my other two accounts for now, they total about 3K.
2010-12-24 3 Stars I opened a 30/10 scalping account with AlonFX back in Oct 2010 I think with $1000.00. wild swings. Up to 1200 3 days ago, then over two days, down to $800.
I don't see how it could be a scam though unless there's some weird collusion with the broker or whatever you call it (FXCBS) as they make their $$$ off of the high-water mark from the account.
The documentation they offer looks good too. Yesterday I opened two more accounts with them, I'll report back. Kind of hard to guage so far, I'll give them an average so far,though my only traded acct is down 20% so far.
Super managed account. I use frequency and am my account stands at 4124 US Dollars,starting with 2500.
I sent 3 friends there also.