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CompassFX.com Review MT4 - MetaTrader Platform Trading Room

Overall Rating: (4.132)
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Total Reviews: 39
Last Updated: 2014-11-24
Description: CompassFX are forex brokers. Compass FX offers the MetaTrader4 top online forex trading platforms. CompassFX.com offers over 20 currency pairs for your personal investment and trading options.
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Fred, Tver, Russian Federation

Rating:
Date of Post:2014-03-20
Review: CAVEAT EMPTOR

I have had dealings with CompassFX for some years. They are nothing than a marketing machine, and are proud of their 70,000+ "membership".

They are into money "management", most recently their man in the hot seat has mis-managed accounts downwards to the tune of >40%.

The are into selling "course" having brought the infamous Steve Mauro to the fee-paying public, followed by Kevin Lowry, just to name a couple. Each course is hosted by Kim Pingleton who thinls everybody likes to hear her voice as much as she does. She must read from a script as in each "course" the same over-hyped, fake excitement is broadcast, telling attendees that "now I can really see and understand what the market is doing..."

They are into hooking people into a never-ending drip of taking a few hundred dollars here and there, without the slightest shred of evidence that that which they are providing is valid.

They are NOT into showing any proof that anything they offer is accountable, or genuine. Their most recent "teacher" has apparently been a trader for almost 30 years. They refused pointblank to show any proof of his track record. Emails inferred that staff of the company had seen income tax returns, apparently proving his worth. They refused to show any corroborative evidence by way of a trading account.
Their trade rooms are the leftovers of "classrooms". Once the teacher has left, so do most of the "students", those left soon start to change the rules. A perfect example was after Mauro shared his "wisdom" in December 2010. The affiliated chat-room was full of people asking for clarification, which was never given. It was truly pathetic.

Like many webistes claiming to give the key to untold wealth, CompassFX refuses to part with ANY evidence that following anything they say will be of value.

CAVEAT EMPTOR

Jane Z, Austin, TX, USA

Rating:
Date of Post:2013-10-14
Review: I've been using Compass FX for at least 5 years. Last September I purchased DOTS and found it a little difficult to understand clearly the exits. A few months later Dean Malone offered a Guppy add-on as well as some training. WOW, what a difference. It's my favorite tool now! He just released a new upgrade 4.01 with alerts to all of his existing customers at no charge! Who takes care of customers like that anymore? Any other company would have charged for such an upgraded version. I don't understand "Bob's" comment since they always offer a satisfaction guarantee on their software products and their customer service is quick, professional and friendly even on weekends. Dean Malone himself has even responded to some of my questions. Thanks Dean and Compass! Keep up the good work. ~Jane Z

ed, , Greece

Rating:
Date of Post:2013-07-15
Review: I cant recall how I found Compass FX but I did join the trading room when it was a paid service and I learnt useful insights from indicators to how not to trade and how to get out of trouble from a bad trade and a lot more.

Now some people claim Dean Malone and compass FX are anything from scams to rip offs to much worse and as I have used much of the systems and continue too and make money with them then I can say I very much impressed with Dean and the company.

Im trading live over 5 years and anything Dean does is with the upmost integrity.

Although I have not used the DOTS system I cant give any personal experience ratings on it but as I know the firm is also NFA regulated ect and firms I spent lots of money with over the years were not the best experience and at best entry level scamers to big scamers.

Any beginners and Intermediary traders I recommend taking commit time to Dean and Co because you will learn and you will not look back.

My credit and thanks to Dean Im alive in the game and I dont trade the 3 months of summer or 2 months of winter.

I dont trade last few days of month or trade live on a mon or Fri, but these days I will still practise on demo and monitor trades Im already in.

This year has been very tricky but Im still ahead by 68% growth this year which is the worst but Im still able to take time off and start trading again Sept.

If its a scam then run to NFA and report it and thats my say.

Bob, Dallas,Tx, USA

Rating:
Date of Post:2013-01-16
Review: Just a word of warning. Their new DOTS trading system is nothing but a scam. It's not anywhere near worthy of the price ($295.00). And forget customer service, money back guarantee or follow up. These thing would just be too honest. Save your money...you would do better letting a monkey trade for you.

Nathan, Austin, TX

Rating:
Date of Post:2011-03-03
Review: I really appreciate the friendly people at Compass FX. I've been with several companies that did not seem to give a damn about me and Compass clearly takes a different attitude with their customers. I've now moved all of my accounts under them with any clearing firm that they work with. I highly recommend using them as your introducing broker.

John , USA

Rating:
Date of Post:2010-12-18
Review: I have been in trading forex for 5 years, some success, alot of disappointment until I came across CopmassFX. CompassFx invited me to join the free live trading room several months ago. They have several trading rooms and as soon as I joined this room I was immediately impressed and began following the trades and teaching. The room I joined has several moderators and is open for live trading from 2 AM EST to noon each day, M-F, and is free! The instructor/moderator named Ronnie goes over the charts, discusses the market and shares his strategies. He is very intelligent and knows more about the market than anyone I know or have ever heard. Before joining this room I had bought just about every trading course out there and have been to every webinar that I was invited to, and most , and in fact, with the exception of 1 or 2, all were dissapointing and all were taught by guys who never trade the market and spend all their time teaching. That should always be a warning, never trust the guy who only teaches but doesnt allow you to watch him trade live... Ronnie not only teaches you how to trade but you can watch him trade his live account....it is this along wth his experience and knowledge that sets him apart from all the others. He is very humble, polite and calm, even when things go bad as they occasional do, but only occasionally. He teaches wave theory, fibonacci. trends, technical indicators, moving averages, forecasting and is very, very good. He has his own custom indicators and you can watch him trade his live account in the room seeing and hearing everything he does....He picks very good trades, winning about 85% of the time and he has done very good this year. I have been following him for several months and I am having my best year ever. This room and Ronnie's instruction has given me new hope and has made a huge positive impact on my financial situation.
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Mr. Krebs, Switzerland

Rating:
Date of Post:2010-09-27
Review: CompassFx, Traderoom 3, 4 (Ronnie)

About me: Trading for more than two years on daily basis, mostly unsuccessful. I've seen many methods, rooms and signals. You can see also other reviews of mine at FPA.

Found this trading room and joined about two months ago (Room 3 is free). This is a room with trade calls and general market commentary, live thru the whole day. Ronnies comments and insights are just great and everyone can learn about. He's a trend trader managing around three millions with great success AND great quality - no junkie going in and out, very serious and this is what I do like very much!!!!

He offers Room 4 for less than 300 USD one time for around two months of mentoring. We have daily wrap ups and weekly wrapups. He shows and gives all his simple but very effective indicators and how he uses them.

I honestly encourage EVERYONE to at least visit this Room 3 which is for free and even with that only you'll become a better trader.

Ed Bender, Chicago

Rating:
Date of Post:2010-09-22
Review: Here's an updated review of Ronnie's trade room at Compass.

1. With the improved volume and trending in September, Ronnie is having greater success. The pip count is still not up there with his performance at the beginning of the year but it'sa lot better than the summer. We're noticing thst the US session in particular is more active and we're getting more trades in.

2. They are offering Mentoring Sessions now and they are excellent. This is really why I gave them 5 stars. You have to pay for the mentoring but it lasts about a month. It's $295 for the first one you take and $195 after that. What is great is that Ronnie covers in Great detail a trending strategy, a Fib strategy and a scalping strategy (my favorite). There'sanother long-term positional strategy that will be offered in the next session. What I find is that I can trade Ronnie's calls or I may pass if I look at the setup and decide I want to wait. In other words you're not just getting black box calls. Thanks to the mentoring you understand why he's making the call. You can decide to take it or not. You also get access to a separate mentoring room, a daily recap seesion and a Saturday forecasting session. I've found the forecasting session to be very helpful as Ronnie goes through his assessment of the EU - where it's at now and where it'slike to go. By watching the process you can apply it to any pair. All sessions are recorded and you get the set-up indicators.

3. I understand the need to privatize the chats so the distraction of a scroll of comments isn't out there. But I still feel the privatized chat itself is distracting.

4. The recording of the mentoring sessions through Omnovia does have 1 problem which they're trying to address. During mentoring there's a lot of chart reviews and examples. For some reason when Ronnies uses the pointer tool it doesn't record on their software. So if you miss the live session and have to rely on the recordings right now it can be confusing.

5. Another thing he does (for free) is show people how to trade events like NFP.

6. I think this is a legit operation with some really good value. Ronnie really seems to want to help people become independent traders. And Kim is extremely helpful.

That's it! The neat thing is you can sit in on the free trade room and get the benfit of Ronnie's calls without paying for anything. There are a lot more traders in there now that summer is over. The counter shows around 500+ in there for London and US but it can spike to over 1000 at times.

2010-08-18 02:40 4 Stars Me: 3 years of live forex trading with FXDD. I have no affiliation with Compass. The trading room was recommended to me by another trader.

This is the trading room i'm reviewing (Not Dean Malone's) http://www.compassfx.com/forexsignals/


I have been sitting in one of the CompassFX trading rooms for 1 month. This one follows the trading of a professional trader (11+years) named Ronnie. He trades a room account of $2 million and a second larger account. Currently the room is free. I did take one paid mentoring session ($299) to learn Ronnie's system. He uses MAs, a customized MACD and the RSI and CCI. He also uses multiple time frames to decide on entry. Trend trader.

My overall opinion is Ronnie is a legitimate trader and conservative in a good way. His whole thing is to minimize risk in each trade. He analyzes the market well and articulates overall market patterns very well.

I would NOT pay at this point for his trade room simply because his performance during the summer has been rather poor compared to the beginning of the year. If he started booking pips comparable to the beginning of the year (+5000 pips in January for example) I'd be willing to pay a reasonable sum ...say $97 a month. But if you're not making consistent profit with a trader why would you want to pay anything?

See the Pros below for my comments on the mentoring which I was very pleased with

Pros: It's currently free to watch his trades.
He's a very conservative trend trader
He calls his trades in advance
The open trades are shown on screen
He lists his trade history for the yea ron a month by month basis
For the current month he lists his daily trades
He trade with stops and TPs
Very transparent trading
The mentoring sessions are great. It started out as a 3-day session but Ronnie seems to have a sincere desire to make people confident, independent traders. So he'll still call us into the mentoring room. And he does weekly forecasts on Satrdays that we can attend.

Cons:

He's having a terrible August. I'd almost take the opposite of the trades he calls. I'm hoping that with more volatility in September he'll get his mojo back.

For the entire summer his pips are down monthly compared to the beginning of the year

If you don't take the mentoring session you'll have no idea why he's making the trades he calls

When a trade goes against him he tends to blame the market

The Omnovia meeting software they use sometimes freezes up and you have to reboot

Each session (London & US) is run in privatized mode. This means that you can see what Ronnie and the admins type and you can hear Ronnie. But you can't see what any of the 600+other traders type. This is both a pro and a con

Forrest, Texas

Rating:
Date of Post:2010-05-29
Review: Compass FX is an introducing broker for FXDD (MT4), FX Solutions (GTS), FX Solutions Australia (MT4) and others; Jim, Canada's comment about spreads and requotes thus does not apply to Compass FX.

Compass FX supports two other trading rooms in addition to Dean Malone's trading room. I think you can get a trial and can evaluate them for yourself. I will say that point 6 by GT3RS, UK is rubbish. Compass FX is an introducing broker; your orders do not get anywhere near them. That they are affiliated with several retail brokers speaks well - you can try out and select your preference.

I have had an account with Compass FX since the forex trade oracle, which made me money until the signals stopped working. When that happened, they shut it down, again to their credit.

Forrest

Jim, Canada

Rating:
Date of Post:2010-04-22
Review: Spreads widen on news and many requotes
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