powerforex.com Review

As one guy summarized, nice guys, well administered and TERRIBLE results, also another one of these that has a new strategy every 3 months as old ones disappear off internet page. Would not recommend.

2008-01-17 2 Stars Pretty large drawdown around 30% gave back all previous gains and then some. Shutting down 5X system, keeping select at ITFX as smaller account.
Does not do well in current swinging market.

I have been with powerforex for about 2 months now and have had excellent returns, the most I have seen my account draw down was about 30%, but all in all im up about 18%.

WARNING! I had money with them. They lost nearly 25% of my account in a matter of hours on VERY HEAVEY trading! FUNNY those trading results have mysteriously disappeared from their web site, wonder how that happened? They claim not to be descreational traders yet they have full descretion over their "System".

I think these guys are a little slippery. I joined in mid June and lost money that month even though they were up for the month. It was down hill from there although I did have an increase for a few days over my initial start up of $12,500 to over $13,800 which quickly faded away. I did not join for a 30 day run.
In mid Aug they started trading in hit or miss fashion and when asked about it they admitted they were not getting good results and were working on getting the system performing properly again. In Mid Sept I rescinded my limited power of attorney my with them and asked why they were not trading. They responded that they were trading the "new system" and they just never told me. I was down by this time over $2,500. They have never posted the results for the old system for the 1st 2 weeks of Sept even though they did trade some. I challanged them and they were freindly but, were only apologetic for not telling me of their new system.
Result, Mid June to Mid Sept. loss of over $2,500 out of an innitial start up of $12,500.
Reccomendation
PowerForex.com Look Elsewhere in my opinion.
FXCM is fine and a positive experience.

Friendly staff, excellent customer service, incredibly poor performance. I understand the risks associated with Forex trading, but started in May 2007, deposited $7,000.00, and today I am cutting my losses with a remaining balance of just over $4,400.00. Not a positive experience.

I opened my account in the end June. My account balance has been down, down, down further and further down. The balance was from $10,000 (open) to $7083 (9/18), 30% loss in 3 months. Finally, I stopped the trading on 9/18, but the last day trading loss was more than 10%, down $832 to $7083. Don~{!/~}t even think about this company for currency trading.

I joined them for more than three months and monitored them daily and noticed they execute stupid transactions.
Avoid Avoid Avoid

low minimum account size, quick replies to questions. Systyematice trading with many systems over various currency pairs. The returns are volatile, but honest. Use of PAMM so you aren't penalised for small account sizes.

I opened an account with FXCM and gave Powerforex trading power after checking back with FXCM. I started with 2000 $ on 6th of June and am now at 2384 $. The results are published on their website and there was a big drawdown in May. But for me everything seems alright, my money can be withdrawn anytime according to FXCM. When I mailed to clarify I got serious replies in 1 day or so.

I signed on (Mini 5K Account)with these guys back in March/07. In april they closed the mini down and transferred my funds into their 10K IAM account. Since this time they dropped their minimum from 10K to 2K. The jury is still out on their performance, although their published historical performance is really good. In May they had a big loss 18.36% but have recovered and right now I am approximately even. I have not withdrawn any $$ so i don't know how difficult ir is to get out. Does anyone have any information on Horizon FX investments? They don't promise the sky, average return is 1%/month