FXLiberty.com Review

Oh man, what bad timing for my previous review.
FXL got in on the wrong side of the eur/usd trade. Kept adding to a loosing position and lost what must be a record 96% of one of my acct. They said their computers froze but more likely they were desperate and added more positions, either way, it's done.
In hindsite perhaps they used a martingale trading style which worked well for 4 months.
They also said they are getting out of the forex business but I think they will probably retool and try and try it again.
I think I'm done with forex too.

2010-04-28 11:10AM 4 Stars I started two accts with FXL in January
forex.com acct. has consistently made 10% to 20% each month.
fxopen acct has also made 10% to 20% each month however I too lost 70% in February. FXL said the acct. settings were incorrect which I can believe but can’t confirm. I re-deposited and have since made back half my loss.
Overall, between the two accts and taking in consideration for the loss in February , I’m up over 40%.
Pros. Excellent customer service. Paul is quick to respond and knows his stuff. Consistent returns. DD not too steep
Cons. Statements from forex.com can be inaccurate.

I had an account with these since the end of January. And up until 5th May they had impressed me by turning 10000 into 14000+. But by the end of 7th May all that was left was 700+ !!!!!
It's unfortunate, as I can tell that these fund managers are very nice,well meaning people, and I may have thought they had conquered the martingale system that their fund was focussed on. Indeed , they had said that it should be safe for any movement up to 500 pips. Unfortunately, the euro has moved around a 1000 pips this pass week, which shows how vulnerable martingale funds can be. If only they had taken a more cautious approach, one that would close all positions,for all pairs automatically once a 10/20% drawdown was reached. Then start again 1or 2 days later. There is an ea out there that does this. If only they had it. Goodbye FXliberty.

In response to Davy.

Clients that open an account with Fxopen are required to use 500:1 leverage MANDATORY. For some reason we have 3 accounts using 100:1 leverage Mr. Davy account was included. He was instructed specifically to keep his leverage at 500:1. But, unfortunately his leverage was set at 100:1 and that caused the drawdown on his account and other two accounts. Ever since, we have included leverage detection on the software (we get an alert if account has the wrong leverage) and his claim that he lost 75% is absolutely false. He made withdrawal everyday after he was earned he made with withdrawal every week. As you can see from our statement the account that has the right leverage setting was never affected and the software has been improvement dramatically ever since for optimum performance and flawless trading.

Thanks.

why was my review not submited ?

i lost 75% of my account with these people , and i have the statements toprove it ......

i posted a rewiew a few weeks back......

In response to Chico Bonzia:

In fact, let the exceptional service and the satisfactory comments of our clients and the Live Account statement here justify our record and performance.

FX LIBERTY TEAM

it looks as though they were using a stepped martingale on this, which would blow any account up,and now it looks as though they have upgraded the system to include a hedge bet once it has 3 or 4 trades going the wrong way.....am I right....perhaps if I am then it might be worth a punt.....best to see if it still pulls the pips as wildly after another week or so...though it looks as though it will

Had a $2,000 account with them for a few weeks. No significant profit until one night when I opened the account platfom to see how it was doing. Their EA had gone nuts and opened up a half dozen losing positions. My account was trashed. They said they were sorry, but that was it. I'll never go with an EA or managed EA again.

I have been scammed several times, I am about to give up on forex when I met this guys and the experience have been excellent. They are sincere, trustworthy, polite and above all they are professionals. You will appreciate their service if you give them a try, I give them 5 stars for their excellent service.

Attention Fellow Traders,

You are most likely here looking for an opportunity to diversify your investment goals, we employ you to join our team today. We used our revolutionary trading software to manage client's funds effectively, applying advanced money management techniques to achieve positive results.

We have the longest running positive demo account balance here at FPA started July 26th, 2009. We provide an outstanding customer services via email and live chat. We respond to emails within 24hours. Join the winning team today and you will be glad you did.

However, we encourage you to monitor our live/real money account posted here at FPA. We look forward setting up your account soon.

Have a wonderful moment and happy trading.

FX LIBERTY TEAM

These guys are simply amazing, my account made over 30% profits for the past 2 months. I will recommend their service to anybody and also they render super fast customer support. Keep up the good job guys