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fx-auto.com Review

Overall Rating: (3.500)
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Total Reviews: 11
Last Updated: 2014-09-21
Special Notes:

FX-Auto was a retail version of the Tradency platform.  It is no longer available as a retail product.  Tradency is now offered only by brokers, and is listed here in the FPA's reviews...

http://www.forexpeacearmy.com/public/review/Tradency.com

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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2006-06-06
Review: We do not have any experience with this company. If you do, please kindly submit your review.

Phill, USA

Rating: No Rating
Date of Post:2007-12-02
Review: ok... well after reading all the reviews on this whole site i'm coming to conclusion that most traders that posted their reviews are plain amatures. common have you read some of the reviews " yeh, i'm losing money with this signal provider or broker so this broker/signal provider is a scam" OH MY GOD. Grow up you loosers. first of all if you can't trade on your own and make money then you SHOULDN'T BE IN THIS MARKET, plain and simple. why do so many of you relly on other success and then ruin their name because of your incapability to make money or because they didn't meet your expectations. i respect the purpose of this website but with the way its going i would say 90% of people shoulnt be in forex. FIRST LEARN TO MAKE MONEY/TRADE ON YOUR OWN AND THEN RATE OTHERS. but most of you cant trade so you try to make a quick and easy buck. Loosers.... thats all i have to say.

Anonymous, US

Rating:
Date of Post:2007-11-23
Review: I expect here to see ratings from smart people like you, but you have missed the biggest point... Dear co traders, the majority of customers at the end of the day lose money with fx-auto, because when u see your equity curve, the drawdown does not include the pnl from open positions. Yes that's right. When a trade is losing 1,000 pips, and suddenly closes at -500 pips, fx-auto does not report a 1,000 drawdown, but only 500 pips for the trade in closed status. I'm very well connected with the industry and you have to make sure to find a service that when it mentions about drawdown, it calculates open positions as well. If it doesn't you will wipe out your account with a margin call. This is something I learned the hard way with FXDD and Fx-auto, and honestly this is a scam. The whole performance is a scam, when you really don't know how much equity you should put. Imagine me opening a 10 lots of EURUSD trade long, and suddenly when the trade is open, is losing 3,000 pips, but the market turns again, and the trade closes break even. According to fx-auto the drawdown is 0. Amazing.

Lily, usa

Rating:
Date of Post:2007-10-22
Review: I have been on and off using fx auto for almost a year. I dont have much complaint about the service, except that I really have to pick the right vendors carefully. My other concern actually is not the fx auto itself but the fxcm. One time, around 3 minutes after a report released, I saw the position that I had long before the news in the fx auto platform jumped from pre news profit of +69 pips to +134 pips, then i decided to close the trade manually at +134 pip profit, but I was not allowed to close the posiiton, and I saw the retracement coming and my pips were decreasing. 4 minutes after I had pressed the close trade button, fxcm chose the price that they liked to close for me, it was exactly the same price of the pre news price of +69 pips. Since I had pressed the close trade button, I could not take it back and had to let the fxcm to pick the closing price for me. Therefore, if you use the fx auto and want to close a profitable trade manually, think before you do it, you may end up giving the chance to fxcm to pick the closing price for you.

As for fx auto service, I really dont have much complaint about it except that I think the ways it shows the performances of vendors are not as detailed and transparent as the collective2.com, so I would give the fx auto a 3.5 stars, but I can't find any half star available, so I give it a 4.

darell shaffer, minneapolis

Rating:
Date of Post:2007-10-13
Review: I signed up for fx-auto about a month ago, to autotrade a signal service called pips-expert that I knew was profitable but I kept missing trades because I didn't have time to monitor the site and set up the trades. I found the staff at fx-auto less than helpful when I was trying to set up. For example, the pips-expert website said they were available for autotrading of fx-auto, but when you opened the trading platform they did not show up in the portfolio options. I finally had to call Isreal, which is where fx-auto is actually run, to get it straghtened out.

Once I was up and running I love the service. I don't miss trades on a service that I have a lot of confidence in. On another note, if you look at the equity curve of many of the services out their, it would be hard to believe that they have a positive expectancy. My only other gripe is that the way the platform is setup, the mechanics of browsing through systems and comparing equity curves is slow, cumbersome, and time consuming. What they ought to have is a page with equity curve thumbnails so you could rapidly scroll down and find a decent system.

So I'm giving them a 4, although in some regards for my needs they are a 5.

Ross, Canada

Rating: No Rating
Date of Post:2007-08-10
Review: ---Update 08.27.07-----------------------------
I was finally refunded most of the lost pips due to thetechnical issues. I decided to stop trading with FXDD since many of the technical issues still persist. e.g. Unfortunately the portfolio items still keep disappearing out of my FXDD demo platform and I didn't have access to the demo account for days again.
I am demo trading with FXCM and the platform seems to be more stable.

---Original review-----------------------------

Absolute nightmare,

I don't know where to begin.I opened an account 4 weeks ago. selected several systems I was trading on demo for 2 months.And 1 day into trading I noticed that:
1: the trades executed on live account were different then in demo that i had open at the same time with the same portfolio and also on the performance page there were different trades posted. in one instance only for one system the difference went in 1000 pips. I had at the end of first week -544 pips as oppose to 554 pip positive booked on the performance page.
2- the technical side of the whole technology is still costly unreliable. Just one day after I opened my account I couldn't access my account for days and then some of the function in the platform did not work and then systems I had not in my portfolio start executing trades on my account and then could not close positions, and then the systems I had deleted from my portfolio showed up the next day again and executed trades on my account etc.. etc..
3-you never get to speak to someone from fx-auto when you dial their number- the outfit running fx-auto is located in Israel and even when I tried to get someone on the phone during their office hours got only voice mail. FXDD customer service is answering and they give you message to someone that phones you back, although politely they try to solve your issues, but I am still no where with them.

I finally stopped the whole thing after only one week trading and 1800+ pips loss in mostly faulty trades. I was very much disappointed to learn about all these problems in an expensive way. although they have offered to refund almost 500 pips , but it is far from the 1800 loss pips and the process is very lengthly and time consumingly slow.

If you need more info you can PM me at Forex Factory. Good luck
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SJM, Tokyo

Rating:
Date of Post:2007-07-01
Review: Have been with fx-auto for about 1 month. So far everything seems as advertised. The best part is the transparency regarding results of the various signal providers. I also like their various choices for money management. Overall I am very satisfied. The only reason for not giving them 5 stars is because I found the application process frustrating. Initially it was not clear from the websites whether I should be applying to fxdd.com or fx-auto.com (fx-auto apparently is a department within fxdd). And, after doing the application process just as their support operator advised, they ended up mistakenly opening a self-traded account for me rather than an auto-traded account. It took about one week to untangle that mess and get my account converted to autotrade. But since then, everything has been smooth sailing. I am looking forward to proceeding cautiously with them.

Ashraf, Egypt

Rating:
Date of Post:2007-06-27
Review: Fx-auto is providing an invaluable service for traders . If you don't like some of the results you see, thank fx-auto for showing the truth! Remember that 1 pip service fee per trade is deducted for the autotrading service and is not included in the pip results, but it is simple to note the number of trades and just subtract.I made $1000 profit in about 6 months, my capital was $2000. The diffucult thing is to chose the signal providers.

FX245, Belgium

Rating:
Date of Post:2007-06-10
Review: FX-auto is an excellent way to auto-trade on the fx, using a large portfolio of different signal providers. I have now used them for 1 month with a real account, and have find it so far to be an excellent service. I believe fx-auto will fundamentally change the way people invest in forex.

paul, toronto

Rating:
Date of Post:2007-03-16
Review: DD (draw down) is misleading, it shows the realized DD. DD will = 0 if the trade is never closed. tried to manually close a trade, didn't work. Went from 5 pip profit to 70 pip loss. Can't set Stoploss ahead of time, I would like to set 100 pip Stoploss (max)regardless. Exporting the "Performance" list would allow me to filter better.
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