galleonfx.com Review

I have to thank these guys for finally putting me off managed accounts completely. Now I am doing it myself - but guys (and gals) it is a long road to successful DIY trading and I am only just getting there.

I watched Galleon for over a year before putting in any money. April 2007 started me on a bumpy ride but delivered 62% profit by the end of that year. A generally pleasing performance. Then the trading strategy changed and the losses started to mount. A check on their website revealled that they had stopped quoting monthly performance figures and now list only previous years (positive) performance on a yearly basis, that is one way of hiding the current malaise. Eventually I quit for an overall loss of 25%.

If you read back you will find all the posts ending December 2007 are really happy with the performance. This year it has been bad news pretty much all the way. To be fair the forex market has been awful at times - but a trend following system should be able to cope with down-trends as well as up-trends. Stay out until there is some more positive news on their trading performance.

account down more than 30% now

2007-12-09 5 Stars account has up around 12% now

2007-11-17 5 Stars just funded, have read through and found this is one of the best. 0 work needed just wait for profit. will update here again.

Opened account in mid Apr with $4000...about even so far. Tried to inquire about affiliate program and got vague answers. Someone named Ben answers emails, until you ask hard questions.It seems if you sign on without a referral, Ben & someone called Xen are given your account & receive 5-6% of your profits. When you look at their performance claims, be eware that their chart does not account for the 25% perf fee. It can amount to more than 25% annually, if you have a good month or two...pay fees & then a losing month. You can pay the performance fee and lose 30% of your account value. You can be sure no one is giving back the fee.

I'll wait & see. Maybe they will make me lots of money. That will more than make up for lousy customer service.

I gave them a call to ask some questions about their program. At first i thought someone answered me, but then i realized it was a machine that was pretending to be a live person. It doesnt say anything unless you say something. then it goes to say the phone system is down so i should try the email. I dont know but i personally do not trust any company that refuses to speak to you in person. not sure if anyone else had a similar experience with them.

They started trading my account for 2-3 weeks ago and right now I am 30% down. And therefore I have just canceled the management.
30% drawdown in 2-3 weeks is in no way acceptable. So that was just a bad experience for me and I do not advice anyone to join them. Sure you could get some profits with them. But if you join them at the wrong time(like I did) It would take over a year to get over the surface again.

These donkeys ended up costing me money. I dealt with a guy called Ben gave him all my details and at no point did he tell me UK citizens can't have managed accounts. I spent time and money setting it all up with id etc only to be told once my money had been taken I couldn't have it. On top of bank charges I ended up on losing on the refund of my money as the curreny went against me. Bunch of unprofessionals be aware !

These guys obviously do not know what they are doing. We are in a 50% drawdown that started in January. No professional managed fund would have such a sudden drawdown, period. Stay far away from these gamblers.

Started with $1,000, current balance is $597.
Lowest balance $576 Draw down of about -43%.

Followed thes guys since the beginning when all they had was "backtested results". Joined when the had the "$1000 special entry" some months ago. Results have been ok - up 30% one months - down 30% the next. Track record is accurate and quite good OVER TIME. Drawdowns can be large so be prepared.

I have dealt in multifacited financial projects for over 25 years. I haave never been involved with a company of such integrity. Theycontinue to increase the performance of their superb automated trading system even as it outperforms the others attempting to mimic their results. Their track record speaks for itself as far as returns to clients for many years.
The brokers used are also of the highest integrity which is critical when dealing in such a volitile atmosphere. I alute those responsible for such a quality operation and ask that they please keep up the good work.