NextGen4FX.com Review

Dear Clients,

We woke up this morning and checked on our SpartanFX PAMM account only to find that the balance was wiped out. This was not a result of our EA or any trades that were completed by us and we have informed SpartanFX to look into this. As of this morning we were told the account had been accessed by an IP in Pakistan somehow that initiated large trades that only affected our personal account.

This is not the 1st time we have experienced a problem at this broker but the last time we were assured that all was fixed to move forward. This does not seem to be the case. In fact, there have been several accounting anomalies in the past, feeds have gone offline for long periods of time that has cost some of our clients funds.

We recently found out this morning that the liquidity provided for this broker is based out of Ft. Lauderdale FL called FXDirectConnect LLC. This company headed by a person named Vern Hedquist and Frank Conlin who were also part of a former scam called Global One which ripped off clients for large amounts of funds several years ago. Even though the above named were not prosecuted in the case, this raises our concerns as we have done plenty of research to know who these individuals are.

SpartanFX overall has been a great broker doing everything they can to ensure their clients are taken care of. It seems that their liquidity provider on more than one occasion has caused problems in the systems that have directly affected their client base. For example, when you open up a trade for more than 1 STD lot, the market only on the SpartanFX platform would move against you. These chart anomalies did not appear on any other broker platform.

This company based in Ft Lauderdale has also recently denied our clients access to their funds to withdrawal. Some withdrawal requests are pending over 3 weeks. I want to express that this is the SpartanFX liquidity issue and not an issue with the brokerage or its staff as they have been doing everything they can to resolve these issues.

We are unsure how trades were able to be opened on our account since our last trading day was on December 11th. Clients that had their accounts managed last year also know that during the month of December, our trading is very short or none at all. None of the described anomalies were witnessed with this broker prior to connecting with FXDirectConnect LLC and there are even more instances of problems we have not listed such as trades that show profit when closed appear in history as losses on many occasions. SpartanFX has credited clients for this as it was quite evident from the accounting and other proofs. The big problem here is now we are being told that SpartanFX is not receiving their client funds from this liquidity provider and they have been giving excuses for weeks on withdrawal requests.

We apologize to all of our clients we have brought to SpartanFX for the problems being experienced. I have been told by the owner of SpartanFX that this will be resolved and our balance will be restored in whole within good time. We hope that the liquidity provider comes to their senses and makes good on these problems and allows our clients once again access to their funds regardless if we are compensated for our own.

Thank you,
Jack Cobb
Owner
NextGen4FX

As of 10/1/2012: There is a minimal balance of $500.00 required in accounts being traded by our systems. If your account is being traded by one of our more aggressive EAs, your minimum balance should be no less than $1,000.00 - $5,000.00 depending on your choice. The item descriptions have changed to reflect this information. We have tried several times on smaller accounts to get our more aggressive systems to work and this is not possible.

Hello,

I would like to thank everyone for the good reviews and let everyone know that the broker that we are currently working with for our new EA (statement posted on FPA) has figured out the problem in why our EA is not operating correctly. This was fixed as of Friday and they assured us we would be credited for 2 of the negative trades to the account being there was a problem with their software and not our EA.

Our trading style is very conservative with good results. Our members do not get the same results as posted here because the account we listed with FPA was a test account for one of our new EAs that will market shortly. Members always have the option to request that we test our software with specific brokers to ensure it functions to full potential.

Live results will soon be posted on our website through MyFXBook along with previous performance statements for our various systems.

Thank you,
NextGen4FX Support Team

Service is great and very profitable!

I have been testing the program since late February, and it has done very well with the returns. Nice conservative trading style.
I recommend it for everyone.