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Discuss 4XGlobal.com (was 4xlounge.com)

General discussions of a financial company
Big, Serious Drawdown- Live Performance Tracking Cut Off by 4XLounge.

Ok, so I have been watching these guys for a while and reading the setups. The indicators look effective and I was thinking of signing up. Since Adam left and Dan took over a couple of months ago the signal results have apparently been very good. But they had another horrendous drawdown on Tuesday. So I guess he was using excessive risk to goose the results. Shortly after things started to go wrong, the public MyFxBook reporting was halted. No doubt for sudden and unexpected "technical reasons". As you can still see here it got to about -50% for the day before the plug was pulled, with several trades way down but yet to close. (I have some good images if the account gets removed, deleted or made private). MyFxBook 4XLoungeTrackingAccount ID #533267.
4Xlounge Tracking Account System | Myfxbook

Then there is the FxPeaceArmy performance live account tracking data for the signals "4Xlounge Tracking Account Real Test".
4Xlounge Tracking Account - Forex Signals Performance Test by Forex Peace Army
Notice the max-equity used of 41% with god-knows how many trades still open. In an attempt to save the account, he seems to have added some funds to try to stop margin calls. But the trades do not turn his way, and the drawdown gets even worse (-60%) before he disables the reporting to Peace Army. Pulling that plug too, presumably because the news was very bad or worse. And I’ve seen several posts on other trading websites that complain of an 90% wipeout DD and that he is deleting any negative comments on his 4XLounge forums. Any 4XL members care to comment here instead? Looks like some ugly stuff, but maybe there’s an explanation.

And now they have a temporary halt on new subscriptions. Thank flack I don’t risk any real money with them. But be warned. If this is blatant, dishonest behavior then FPA should investigate. And certainly, they should explain why the FPA live-trade verification programme was turned off at such a critical point.
 
Scam or just really bad trader!

Assaph you are absolutely correct, this is not the first time Dan has deleted myfxbook accounts (this has been done atleast 4 times over the last 12 months). I was with them from Feb 2012 to earlier this year, my account was using just their EA. He wiped out my account which was using his suggested leverage, i lost out on all my invested money and the money for my subscription. When i asked for a refund he declined making excuses that I was trying to use extortion, my advise steer clear, you may see a couple of months good trading and then massive draw downs. If you post questions on the forum asking about the missing myfxbook etc the post gets removed, i can no longer post on the forum without having my post approved on his site.
 
Assaph you are absolutely correct, this is not the first time Dan has deleted myfxbook accounts (this has been done atleast 4 times over the last 12 months). I was with them from Feb 2012 to earlier this year, my account was using just their EA. He wiped out my account which was using his suggested leverage, i lost out on all my invested money and the money for my subscription. When i asked for a refund he declined making excuses that I was trying to use extortion, my advise steer clear, you may see a couple of months good trading and then massive draw downs. If you post questions on the forum asking about the missing myfxbook etc the post gets removed, i can no longer post on the forum without having my post approved on his site.

Any active clients with this service? Really looking for a good one to join! Thanks
 
I just checked their site. It doesn't look professional at all to be honest. It doesn't even have a "Support" section.
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