ProFxCapital.com Review

so i took my money out a while back. got back like 700 or something from 2k

they havent updated their performace on their site since sept..... BLOWUP.

since then i have wisened up and am staying away from systematic trading bots. they work till they dont. profits arent made from calculations and formulas (unless you can arb of course or have inside info on the bid and ask, like a market maker).

anyways stay away. this system makes no sense watching it. their risk to reward on trades sucks. avg loss way higher than avg win. that is not a sustainable system. nice try though. im sure they made some performance fees until the music stopped.

2011-10-11 No Rating update for clarification: i deposited 2k. for a while the account was trading with a 1k added bonus from the broker. effectively this increased the leverage. this was subtracted a few weeks ago to the tune of -900. i suspect because the system shouldnt have that much leverage from a 2k account.

in any case. my account is sitting at 1150 equity with 3 open trades. so in relation to the 3k starting point, the account is down 28% since the end of june. Ill post my excel trade history since inception if i can figure out how somewhere.

2011-10-10 1Star while i do agree that 1 months performance does not equate to a justified review of system, what does qualify are a few facts based on the system in general. the first is that the trades do not match. I dont know who is smoking what with the reviews on here, but when I do an excel spread on my account and theirs, the trades taken align 50-70% of the time within a pip. other times they are way off, and worst of all, the number of trades taken differs from the two spreadsheets CONSISTANTLY. and that is a big WTF.

The other reason is why I am back on here and feel compelled to contribute. I am down 20% over night in my account. (started with 2k, account value is about 1100 as i sit with open losses) been with them since june.

Now I can take my losses, but what I have a hard time swallowing is this statement taken directly from their website: "This component is excellent at staying in trades for extended periods. Normally retail traders exit trades much too early, one of the largest single reasons for trader failure. This module seeks gains of 100pips or more."

now i have never seen a 100 pip winner over the 4 months with them. but i sure have seen some large losers. Their premise of cutting losers short to "manage risk" and let winners ride is completely reversed in real time trading execution. i see 1-15 pip winners at 80- 90 % success, and 50+ pip losers that wipe all that out in single trades. (in which the system doubles down a few times if trades keep going against, which has it go to 100+).

To be honest, I was made aware of this system in a random email sent to me somehow. figured "why not, its only 2k". WHO KNOWS if anyone was with them before they pumped their system with winning results. looks like the joke is on me, and whoever else it will be on if you throw your money at this one. just a warning out there. who knows who these people really are. nice website, professional traders though??? that leaves a question

by the way, ill come back on here with a positive review if i see trades made that correlate to the way they SAY the system is supposed to work. otherwise ill tell it like i see it.

2011-09-07 2Star I just reviewed the August statement that ProFX posted on their website. To be fair, they did accurately report all of the trades that appeared on my account and they did show a loss of 12.2% for the month. I did not go over their numbers or their calculations, so I dont know if that figure is correct, but it appears to make sense given the trades. But one huge difference that I did notice was that they reported consistent trade/lot sizes all the way through the month (3.00 lots), which DOES NOT match what was happening in my account. My trade sizes varied by as much as 100% (double), from .09 lots to .20 lots. And this was not just a one trade mistake, this was happening throughout the 2 weeks that I was hooked up to their platform. I have no idea why this was happening, but it could make a huge difference in the results.

So, ProFX does get high marks for at least accurately reporting the entries and exits and all of the trades...the good, bad, and the ugly.

But the lot size differential is a huge problem and needs to be resolved.

Finally, at least for the month of August, their performance was very poor, and in the end analysis, this is what we are after....performance (pips), right?

Based on the above, I would revise my review to 2 stars. I dont see unethical behavior here with ProFX, just bad trades. And they need to figure out what is going on with the lot sizing.

2011-08-30 1Star As a follow up to my post on 8/19/11 below.....

I have also decided to pull the plug on Pro FX Capital Management and have revoked their authority to trade my account.

After 22 trades over the course of 2 weeks, my account is down 10%, which does not included the commissions (which were very small, but still money lost). In and of itself, this is probably not a sufficient reason to pull the plug on a system.

However, what I have observed during this time period is that the trading methodology seems to be premised on buying tops and selling bottoms of ranges. All of the trades I have seen have been like this. This may work well in strongly trending markets. But what happens when the market stops trending and goes side ways or choppy (which is the normal state of most markets)??

I also noticed that they are employing a Martingale type strategy, where, with each successive (losing) trade, the lot size got bigger and bigger. This also results in bigger commissions to the broker. This may be a profitable strategy over the long run, but I am not inclined to give these guys a long leash to run off with my account and trade it to zero in order for me to find out whether their system works or not.

All of this, together with the comments from the rest of you all (below) - which seem to be based upon real trader experiences, was enough to convince me that this system is not right for me and that I should pull my account and take my business elsewhere.

I look forward to comparing my live account results with their monthly results for August. I will report back later with my findings.

2011-08-19 No Rating I just finished my first week with these guys. My account is with FinFX. All of the trades this week were in the EURUSD and GBPUSD - 10 trades in all. The result is that my account is down about 4%. Londoner and Garrett seem to be right on with their reviews and assessments. All I see is trades opening at the tops (long) and bottoms (short) of ranges. 4 very small winners. The rest losers (of course) with one (the GBPUSD long from 8/18) being almost 4x as large as my biggest winner. I am 100% in favor of letting the expectancy of their system play out, but so far - especially after reading what you all have posted - I am not very optimistic.

What I would REALLY like to see is the statement that ProFXCapital will post and compare my trades to theirs. This is where the rubber will meet the road. I mean, are they accurately reporting the same trades that are being placed in our accounts? Or will they just say that it is a problem with our broker and that they had a winning month. That will be the turning point for me

Hello, I am also invested in ProFxCapital since the end of July. The first days have been great. But in August it was really hard for them. I have chatted with them a lot via Skype. September looked really good until the last days, were they had some loss trades. Now the first week in October is over and I think they get back to old performance, before the loosing month ( August ). ProFXCapital is really honest. The trades they show in their performance are the same that have been traded on my account. So they dont hide any loosing trade. The losses in August arent nice, but I think everyone who has traded Forex, knows that you cant make profits every day, week or sometimes month. That's Trading !!! But the most important thing for me during these loosing weeks was, that my account was at no time near to be killed. So I am really happy with them !!!

Hello,
Our reporting is based on our master account. Every trade is like for like on client account.
Whilst we concur that gains or losses can be marginally greater on client account due to account size,
For example, position sizing on $2k account can be more exaggerated eitherway due to min lot size of broker, (10k).
Like for like, in profitable months the smaller account would have seen larger gains, this is fact.
August was tremendously difficult with the breakdown in equity markets that spiralled trades. We continue our profits in Sept and our core performance will be still hugely profitable over 2011, without doubt.

We never churn trades on client accounts and taking one months performance in Forex is a futile exercise.
We will be trading accounts for a long time in the future,

We wish all FPA members a profitable last quarter in 2011.
The best from ProFx.

Will Steven,
Client Relations,

I just reviewed the August statement that ProFX posted on their website. To be fair, they did accurately report all of the trades that appeared on my account and they did show a loss of 12.2% for the month. I did not go over their numbers or their calculations, so I dont know if that figure is correct, but it appears to make sense given the trades. But one huge difference that I did notice was that they reported consistent trade/lot sizes all the way through the month (3.00 lots), which DOES NOT match what was happening in my account. My trade sizes varied by as much as 100% (double), from .09 lots to .20 lots. And this was not just a one trade mistake, this was happening throughout the 2 weeks that I was hooked up to their platform. I have no idea why this was happening, but it could make a huge difference in the results.

So, ProFX does get high marks for at least accurately reporting the entries and exits and all of the trades...the good, bad, and the ugly.

But the lot size differential is a huge problem and needs to be resolved.

Finally, at least for the month of August, their performance was very poor, and in the end analysis, this is what we are after....performance (pips), right?

Based on the above, I would revise my review to 2 stars. I dont see unethical behavior here with ProFX, just bad trades. And they need to figure out what is going on with the lot sizing.


2011-08-30 1Star As a follow up to my post on 8/19/11 below.....

I have also decided to pull the plug on Pro FX Capital Management and have revoked their authority to trade my account.

After 22 trades over the course of 2 weeks, my account is down 10%, which does not included the commissions (which were very small, but still money lost). In and of itself, this is probably not a sufficient reason to pull the plug on a system.

However, what I have observed during this time period is that the trading methodology seems to be premised on buying tops and selling bottoms of ranges. All of the trades I have seen have been like this. This may work well in strongly trending markets. But what happens when the market stops trending and goes side ways or choppy (which is the normal state of most markets)??

I also noticed that they are employing a Martingale type strategy, where, with each successive (losing) trade, the lot size got bigger and bigger. This also results in bigger commissions to the broker. This may be a profitable strategy over the long run, but I am not inclined to give these guys a long leash to run off with my account and trade it to zero in order for me to find out whether their system works or not.

All of this, together with the comments from the rest of you all (below) - which seem to be based upon real trader experiences, was enough to convince me that this system is not right for me and that I should pull my account and take my business elsewhere.

I look forward to comparing my live account results with their monthly results for August. I will report back later with my findings.

2011-08-19 No Rating I just finished my first week with these guys. My account is with FinFX. All of the trades this week were in the EURUSD and GBPUSD - 10 trades in all. The result is that my account is down about 4%. Londoner and Garrett seem to be right on with their reviews and assessments. All I see is trades opening at the tops (long) and bottoms (short) of ranges. 4 very small winners. The rest losers (of course) with one (the GBPUSD long from 8/18) being almost 4x as large as my biggest winner. I am 100% in favor of letting the expectancy of their system play out, but so far - especially after reading what you all have posted - I am not very optimistic.

What I would REALLY like to see is the statement that ProFXCapital will post and compare my trades to theirs. This is where the rubber will meet the road. I mean, are they accurately reporting the same trades that are being placed in our accounts? Or will they just say that it is a problem with our broker and that they had a winning month. That will be the turning point for me.

It seems as if the website has been moved or relocated . doesnt sound too promising either. Trading volume has significantly decreased over the past week or so. last trade entered was yesterday for EURUSD. my account is down, Their website is down and their skype is also down , i'm also feeling down so im pulling out.

2011-08-11 2Star I was up at most $600 and now down $150 - $75 for the management fee. they blame the market. After observing they trade syle they seem to be buy at extreme highs and sellling and extreme lows. hmmmmm. we shall wait and see

I started with them 2 weeks ago - and after 2 weeks of trading have lost 10% of account....auch....

Oh, and their homepage have been hacked, and is currently down too. - Guess convenient since they do normally post mid month results and Aug not pretty (from start August they are down about 11-12%).

NOT their month.... I will give them a bit more time - at least the bounce back will mean no performance fees charged until in the black again.

Also; they have been fairly responsive on their Skype - so I do give them credit for that.

Cheers!

I am curious to know what the management says - are losses a result of changes in management or changes in the market making the strategy difficult to operate?

I understand that a FX strategy can result in some profitable months with an occassional losing month (hopefully a small loss) - there should be some explantation why, in any case. It worries me to have losses that are 4 times the size of the winners - plus the ratio of winners to lossers during the 1 month and a half I had this account has fallen from 80% of total to a 66%. Not a good sign.

Hi all!

Thanks to ProFx Capital I am finally making the results I've been looking for with Forex trading.

At last a money management service that does what it says!

I've had excellent service from both ProFx Capital and my chosen broker FXCC.

Keep up the good work guys!

Thanks to FPA for this opportunity to make my experience known.

Yamas,
George

Meet these guys and opened $5,000 account. Now at $6275.
Sound traders and account matches site (FXCC account)
So far so good.

4 star for now, 5 if they keep up performance later.
All the best FPA.

Yes, I agree with John. Very good traders.
Trying to get them to manage my spreadbet account, so fingers crossed.
Added another $2,000 this week to my account in FinFx for profx to manage.
4 stars for now until they do managed spreadbet account.
Performance is very, very consistent, no wild swings.

BJ, Geordie Land.