FxSpotDesk.com Review

These guys wouldnt return emails. Performance became very poor.

I signed up for this service in May and lost badly following their signals. BEWARE!

Here are the results as posted on the website:
May -148
Jun +127
Jul -87
Aug -352
Sep -323

Thats -783 pips!

The "Supplemental Trades" lost 181 pips in April, lost 344 pips in May, lost 97 pips July, and lost 153 pips in August, while making 475 pips June.

Don't be an idiot and sign up for this service!

For anyone considering using FXSPOTDESK.

If you sign up but later decide to discontinue using the service, please ensure that you stop the recurring payment as close as possible to the time you inform them that will are cancelling. You may think that if you cancel their services that they would stop deducting from your account - but you would be wrong!! They will go right on taking from you. I discovered this myself. When asked for a refund - no answer. I also discovered that the phoner number they listed as their own is NOT for them, because I tried to call them. In Latin they say CAVEAT EMPTOR - let the buyer beware.

Hi,
good service, EURUSDI not doing well, but daily reports and the Ea you get as member is superb!
really happy, making money so cannot be anything less than 5 stars.

Amir

This is the best $179.00/month I've ever spent. The service is very honest, straight-forward, no-nonsense, easy-to-follow and (in my opinion) conservative and consistently lucrative. I have spent FAR more money on other services and products that have resulted in FAR less than what I feel I am getting from FXSpotDesk.

It is not a stretch to say that trading FOREX based on this company's signals involves rather about five minutes per day of time from the end-user, and could legitimately supply a return easily sufficient as a primary source of income, assuming a high enough account balance to permit sufficient Lot-sizes is enjoyed.

Truth be told, I feel rather like I'm paying them a lot less than what I'm getting for my money - but I realize that that may not be the case for those not trading on a Standard Account with a significant balance. But for me, I couldn't be happier.

Cheers,

-SC Marler

Pros
Timely notification & specific entry/exit points. Read access to their trading account, where one can view their positions. Precise reporting of P&L.

Cons
They appear to be having quite a tough time generating profits in non-trending markets. e.g. their primary strategy on EUR/USD has not been profitable recently, since the currency pair has been more range bound as opposed to steadily trending upwards. It's always more difficult to make profits in such periods, but I guess for a $179/month subscription, one would expect the service to better negotiate such markets & remain profitable. It's only been a couple of months, so am not casting strong judgment one way or the other.

I've been using them for almost 2 months. Reporting is real. But I am down a few hundred pips. From januari they made less profits (now even losses) every month. So if you ask me they maybe were profitable but aren't at the moment. Set and forget is hard in a market that is not trending.

They didn't blow up my account but i'm not paying $179 to make losses.

Saight

Hi,
Nick you must not use Mt4 with trailing stop, the performance is 100% replicable.
Very solid, I am up over 50% with trading conservatively.
May was poor but June looks like a 600pip+ on all 3 systems.
Only provider i see that post a statement.
Great++++++++++

Update....I have canceled this service for severe performance differences. 50% of the time my stop loss is clearly hit, but the service stays in the trade.

2008-06-12 2 stars
I joined this service 2 weeks ago and am having severe performance differences. On two separate occasions my trailing stop was hit, but the services was not and it ended up with good profits. At this point I am down 15%. I will remain for the entirety of the month, but my hopes have been dashed.

This signal provider recommends that we trade their signals for at least two months. Well I did just that, trading their signals for all of April and May 2008. Per the performance listed on their website, they were +195 pips in April and -148 in May for a grand total of +47 pips. Not exactly stellar. During those two months, the EUR/USD went from a high of 1.6018 to a low of 1.5283 and back to a high again of 1.5817. These were big moves and yet their system was not really able to capture them and kept getting whipsawed. Also, from April 15th to May 19th, I reached a drawdown of -346 pips which is a bit higher than their historically worst drawdown.

I do agree that they are professional and honest in their reporting of the results, which is why I will give them three stars. They may well go on to have better months ahead, but I am afraid that I am not that patient for results.