Hsfxasset.com Review

I heard that Hermann Greb Netto has been terminate by HSFX due to his irresponsible trading. All his fraud trading is based on legal way agreement. I heard that he makes commission by anyhow trading client's account. Each trade he earned commission by hidden fees. Also heard that Dukascopy still recommended him as a money manager for their clients. This is very weird. it looks ike hermann makes money by losing people's money in forex broker or he has dealed with Dukascopy with this..Hm weird. Now, HSFX has new trader which I think will be much better than him.

Over the last 2 weeks we have seen the biggest fiasco with this company that I have seen.
First we had our accounts decimated by the trader using huge size trades shorting Eur/USD against the trend. He refused to take a loss, instead betting that the market would come back down, before accounts were margin- called.

We then got emails from HSFX saying that the trader had been fired due to unethical behavior.
This was followed by emails from the trader, saying he was actually the owner of the business, and the emails were unauthorised from an admin employee who he was then going to fire. He tried to blame this admin person for the bad trades.
Claim and counterclaim followed.

I believe both parties have not been fully honest.

The trader has now asked me to allow him to continue to trade what is left of the account, but has said he will trade with a quarter of the leverage he used previously. At least he has finally realised that his approach was reckless. It was a pity he didn't do it before he had destroyed my account. I now have ever more doubt about the honesty of his track record?

2009-09-18 1 star This is a reckless trader who uses excessive leverage, trading against the trend. My account is currently down around 75% during the last 3 days, and at an 85% drawdown since I opened at the start of the year. Do not trust him with your money!

2009-03-30 1 star I find it interesting that a company that claims to be honest and up-front, is so deceptive with there track record. The dukascopy statement they publish which they claim is there track record, only ever seems to get updated after they have a few winners? Needless to say it has not been updated since the 10th of March!
Not that it is worth much. It only started in October of last year, despite their claims about a 3 year track record.
I also found it did not accurately reflect the same performance of my account????

2009-03-16 1 Star BEWARE : Last week my account lost more than 50% on one trade. To risk that amount on one trade shows the trader is irresponsible and cannot be trusted.
So far over the last 2 months my account is down more than 60%.

Like many others I opened my account after the consistently good reviews on this site.
There are a number of concerns. The claims on there website regarding the risks taken per trade (max 2% risk), and the max loss before trading stops (which others have highlighted). The track record results that they quote, are different to the performance of real accounts. Even without such poor performance over the past week, these issues suggest this service should be avoided.

I must congratulate HSFX on being able to manipulate this site to get the 5 star rating, and hence numerous new accounts who have now all been decimated. The fake reviews that were removed, and the numerous fake reviews on other sites should have been a give away, but I have to say they got me!

Just in case the reviews were genuine who said this system must be good because they use Dukascopy - wake up to yourselves. Dukascopy go to great lengths to distance themsleves from the performance of the system. It doesn't matter which broker is used. If you have a bad trader that risks too much an any one trade, then nothing will save your account.

I can not understand these people telling it about this company. i m -7%, not big DD. I see that have people inside company wanting put down everything.... i can

Any body want to let this company managed their account must think twice.Read the below correspondent e-mail with them than decide....

From: Hermann Greb (mannher@gmail.com)
Sent: Tuesday, 15 Sep, 2009 9: 52 AM
To: xxxxxxx


Hello Mr. Tang,

You are correct ! Do not worry, we will have consistent profits. I can understand you, but please be patiente.

Have a great day and trust us.

Hermann


On Mon, Sep 14, 2009 at 10:40 PM, xxxxxxxxx wrote:

Dear Sir,
Do not forget the money management that didn't control at proper way will again hurt the client account ,i think most of the clients can't affort to lose big amount one time and constantly because not much fund left in the account. Which pair of currency do have the vialility periad and risky to trade,espeacially EUR/USD these day.

Regards,
Tang Ai Lin

-3 083.55 USD 7 466.68 USD
Settlement for EUR/USD -3 083.55 USD 1.0000 -3 083.55 USD


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Re: Worry!‏
From: Hermann Greb (mannher@gmail.com)
Sent: Wednesday, 16 Sep, 2009 10: 15 AM
To: xxxxxxxxx

Tang, i understand about it and everything about our Drawdown. We will use less leverage and use different strategy after this orders. Do not worry !
We know the DD, but we are in middle of the month, so we have 2 weeks to close this orders positive and bring the profits again. The Eur/Usd is overbought and will recover the price, please stay patiente because we ll get profits yet.

Regards, i hope you understand and give us the last chance.
We ll make better !
Please Trust us !

Hermann


On Tue, Sep 15, 2009 at 10:43 PM, xxxxxxxxwrote:

Dear Sir,
We left the fund with you since last unproper maney managment trading case ,given you the chance to correct your trading style. Took around half year to slowly collect the profit .The fund of my account from around 7000to 11000.It is all right even slowly than your promise perioad to recover our fund but constantly taking back our investment fund. Even do have the other clients complainted you are too slow to collect back the loose of our fund than your promise, for me my thinking is different,trading carefully with proper money management better than aggressive without consider the fund amount that left no much in the account and can't afford big dawndown hurt for twice. Took half year collecting back 4k of my fund but fews days loose more than that, i believe not me only, most of yor clients will lost all the confidence and trust and very worry going to loose all the fund later......... Thank you!

Regards,
Tang Ai Lin

-722.85 USD 10 550.23 USD
Settlement for EUR/USD -722.85 USD 1.0000 -722.85 USD
14.09.2009 Daily Change -3 083.55 USD 7 466.68 USD
Settlement for EUR/USD -3 083.55 USD 1.0000 -3 083.55 USD
15.09.2009 Daily Change -1 973.70 USD 5 492.98 USD
Settlement for EUR/USD -1 973.70 USD 1.0000 -1 973.70 USD
16.09.2009 Daily Change -476.76 USD 5 016.22 USD
Unsettled EUR/USD -476.76 USD 1.0000 -476.76 USD
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Profit & loose‏
From: xxxxxxxxx
Sent: Friday, 18 Sep, 2009 4: 23 PM
To: mannher@gmail.com

Dear Sir,
You already loose too much of the clients fund ,now i see the profit is there,for me i took it first ,it may bounce back to 1.4700 something , ( or u have very specially strategy ,can u explain it),for me you are too confident to short this pair when the timing is not mature,or can said the short signal is not very strong when you short it few days ago.and trade too heavy of the lot ,you seem put all the eggs in a basket,very risky .I don't understand sometime do have quite a lot of profit you don't take it,but let it become loose trade ,not even use trailing stop.If loose all the clients fund ,i think u should compasation of our lost of fund from your last time promise to us.

Regards,
xxxxxxx.



Until today 19/09/2009 they didn't reply me to explain to and aplologies for their second time big drawdown ,for few days they lost nearly USD 8k, my initial account from Nov 2008 is 16k, 4 month later until Mar 2009 they earn for me around 4k. Deducted the performance fee my account do have around 18kplus .From 18kplus become around 7kplus in Mar big drawdown. My account until this August they slowly recover it to around 11k. But Until 19/9/2009 (Friday) my account balance is around 3k. Why type of change trading style that promised from the last drawdown ?????!!!! So think twice who going to put fund to them.

My Stop (20% recommended by HSFX) was around to reach, but the market back and with some orders hedging, we are going to become positive again. Nice good ! I hope finish this month positive. I will say later .... Excellent yet.

2009-08-20 5 stars I m happy with August profits, 13% for me till now. I hope HSFX Trader stop trade this month. jejeje
Lets see next months...hehehe... 5 star this month

Good Luck !

2009-08-15 5 stars Nice Customer Services, Nice Support from HSFX and Dukascopy, Nice profits for me since last year.
Thank you HSForeX

Update to my review on 2009-08-24

Apparently my autolot was not set correctly and my account hit the 20% stop loss. HSFX assured me that this was fixed and they assured me that everything will be ok. Well the next trading day for HSFX my account hit the 20% stop loss again! The trader told me he is having a bad month.

I am moving my funds somewhere else. I cant risk another 20% this fast.

2009-08-24 No rating I finlay have an account opened with HSFX. I have to say there support so far is very good. Dukascopy was a little painful to get going. I was notified promptly after my funds were received with an email stating they will contact me within 2 days. Week later, still no call. I sent in a inquiry and shortly after Dukascopy called. Took another 4 days to get my login information. After activating my account with HSFX via dukascopy it took another 4 days for HSFX to accept my activation. The month of August for HSFX has been outstanding with there return. To bad I was only able to catch the end of it! 2 trades in, Account is profitable by small amount. Besides the drag of getting the account active, everything seems to be going ok. HSFX so far has been the most positive side of everything.

DAVID, Everybody know that 3 to 10% monthly is not easy to do. HSFX Trader makes our objective monthly (3 to 10%) so after that he only put order if get nice and low risk entrance, This month HSFX Trader opened order 3 to 6th and 17 to 19th because got nice entrance with low risk, off course if our objective monthly (3 to 10%) not occur when start the months, HSFX trader will work hard during the month to get it. I hope you understand. We are REAL Forex Managed Account, we are not joking here with clients money but growing our clients money that today is over 20Million. GOD BLESS US !
Our Clients from 2004/2005 made much money with us, they withdrawn much money before some problem, we are not worried with negative people, but we are worried with our positives clients that trust us. Only for you know, August already around 12% and every week news clients with great amount starting, we are so happy. WE ARE HAPPY !!!!!! Good Luck for you David and we hope you back to invest later with us.

There is no way the last poster has made money if he was with them since last year because of the huge loss they had in March. Do the calculation yourself and see. Anyone that has joined them through Dukascopy before march is in the red, even those that started with Dukascopy since day 1 are in the red. Perhaps those that were with them since MIG might be at break even or better but then again I havn't followed them since then so wont comment.

What I will say is that I agree 100% with the other poster that the trader barley trades. He takes on large over leveraged trades at the 1st of the month and if he is "lucky" , stops trading for the rest of the month! He does not consistently trade, which is what real good traders do. They seem to care too much about having a consistent track record (despite there 60% loss) then to really trade properly. I hope the management reads this and changes, I am sure they can grow better when they start really trading vs stop trading once they are in the green for the month because everyday isnt related the day before it if they are good trades they wouldn't stop trading so early in the month.

If they loose money on the trades early in the month then they keep trading until they are in the positive. All that matters to them is making their performance look good and consistent. Which is wrong and which is why I closed my account.

Hello Customers and Partners,

We are happy because we are getting new clients weekly. God is blessing us !Our news !

Now with our managed account you can block your funds for non-trading any time with your login/password.Our clients have total control. No more High DrawDown. Come to embrace the safety of managed account with us. We recommend you put 20% S/L Drawdown in ukascopy broker new function, so you will never lose more than 20%. Safe is investment with us !
July/09 - Our minimum a while is $10 000, come to grow your funds with us and bring your friends too, so you can earn commission. !
July already 8,3% profits

Come to grow your funds with us !

You are welcome !

RG, USA, we can understand what you are saying, but we can not get high risk for our old and new clients. We get clients weekly, We ll be the best managed account for public investors next years, trust us and you will see. We know our mistakes, but you can see that we are consistent, we are real, we post only real past results, please look our % last 3 years... Our old clients never told us bad words because they know our potential, they earned much money with us withdrawing money and bringing clients. Everybody know that 3 to 10% monthly is not easy to do. HSFX Trader makes our objective monthly (3 to 10%) so after that he only put order if get nice and low risk entrance, off course if our objective monthly (3 to 10%) not occur when start the months, HSFX trader will work hard during the month to get it. I hope you understand. We are REAL Forex Managed Account, we are not joking here with clients money but growing our clients money that today is over 20Million. GOD BLESS US !