josephwatch
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Hi Can I use my account with VantageFX Australia?
'Impossible'? Maybe 'unprobable' is more honest. Just remember that the Titanic was unsinkable!
Cheers, simplex
Hi Can I use my account with VantageFX Australia?
5 minutes walk from Soi Cowboy. Know it? Anyway, central Bangkok. I have an apartment at Wind Condominium.
ISP is True in Thailand. The Vantage FX platform froze here AND in London simultaneously.
In London I'm on T1 Global Switch 2, which is Europe’s largest purpose built data centre.
However, my contention is that due to this your questions are irrelevant. It was either a failure of the Vantage FX platform or a deliberate action by Vantage FX. Whatever it was makes Vantage FX a poor choice to execute trades reliably.
Hello 4evermaat,
The average Risk to Reward for the Striker is 55/35 - it is structured in this way so that the Striker EA, in terms of probabilities would reach extreme levels if the Striker EA lost 7 straight trades. The maximum it has lost to date has been 6 (there has been well over 1,000 trades). A risk to reward of 55/35 would never experience 20 straight defeats - probabilities deem it impossible. The reason the Striker EA applies risk to reward in this manner is to ensure that when winning runs occur, compounding is experienced through the 5% of account balance risk per trade.
If risk to reward was 50/50 (risk 50 pips to win 50 pips)... Probabilities would struggle to reach 20 straight defeats. Flip a coin; the chances of 20 straight Heads is almost impossible and winning runs would be much fewer. We need to shift the risk/reward to increase the number of consecutive wins - it is these consecutive wins that push the account balance onto fresh profit/loss highs and show the true potential of the Striker EA.
Jasondask: We have a partnership with Vantage FX, UK – although both share the same company name they run very differently; almost as separate entities. Additionally, the Striker EA is programmed to calculate lot sizes based on the price GBP/USD because it only trades EUR/USD (pounds converted to Euros etc). It also allows for much more efficient server/platform management in terms of upgrades if we have single platform (broker) for all.
We have several clients from Australia who happily use Vantage FX, UK. We have found there to be no issues with this. It’s not uncommon for clients to have accounts with other brokers from different countries/currencies. Sometimes a change from the norm can be positive
Vantage FX, UK we have a very close relationship with and each of our clients has their own contact at Vantage FX who is fully aware of our software and its capabilities. Customer service is first class, withdrawals with no additional fees and some of the most competitive spreads on the market in particular for our chosen currency EUR/USD - just 1 pip. I haven’t received a single complaint about the service they provide. Granted, they are not (yet) one of the top brokers but in my experience (and we tested many brokers) their customer service is unbeatable; extremely competitive spreads are also a bonus.
WhyLose: I'm afraid, to protect our Striker EA Signals Service we cannot install any form of Trade Copier on our servers. Additionally, to preserve server performance, it is best that we avoid external communications from our servers - this may affect the performance for other clients who share the same resource. I understand this is not ideal for your circumstance but I am confident that your Live Account Statement will suffice.
ThaSniper: Let me share with you and everyone the history of the Live Account we have on FPA. We began the Live Account with a balance of 1,800 - within several weeks the profit reached 2,400. The Striker EA, as you may know, risks only 5% per trade... During this winning period our lot size was increasing nicely; we topped up the account to 5,000 and took the dip in form at the highest possible lot size. We are not concerned about this loss as we always maintain a long term stance for the software and remain confident that the Striker will push on again. We invested money into this account as an investment - the way we believe trading should be... Not topping up trading accounts every few months and trying something different. Good systems, like the Striker, need time to come to fruition.
To summarise, the Striker EA is a genuine product - all of the results we publish on our website haven't been manipulated in any way; we believe in providing an honest & reliable service to clients. The Striker EA is an opportunity at low risk, a long term investment; we never guarantee clients profits because we simply can't but we can guarantee that we have worked extremely hard to create the Striker EA designed from many years of commitment and dedication to the subject we are completely passionate about.
Please feel free to respond to this thread with any questions you may have.
Michael
I don't think it was the broker's end; ultimately I think the problem lies with the signal provider (Striker EA) which I will go into a bit later.
Do you have a contact with VantageFx (UK or AU), familiar with Striker EA, that you can share with us?
A signal copy service is fully controlled by the end user (which is you in this case or whoever is broadcasting the signal). Most of the popular account copiers are very light on resources. The latency is negligible, especially if the customer's VPS is hosted nearby.?
2) An EA should not be so specific that it can only be successful at 1 specific broker. EAs like this usually fall into the following categories:
a) They are taking advantage of a loophole at the broker (fake orders, hacked platform, etc).
b) The broker and/or ea seller is making commissions off the partnership, either on the spreads or sale of the EA . This isn't a bad thing, but the relationship can be toxic if...
c) The broker is assisting the EA vendor in faking live account statements, such as this recent example.
d) The ea is HFT or floods the broker with multiple orders simultaneously in a short period of time.
Do you have any 3rd party validation of these results, such as MyFxBook, Tradeo, FxCopy, etc, with full history of trades available?
Yes, they are here on the Forex Peace Army website.
Hello 4evermaat,
Thank you for your extensive feedback. Having read your post very carefully your understanding of our Business Model/Striker EA product is seriously flawed. In fact, on closer inspection you are making some serious claims and uneducated assumptions.
An example of an uneducated assumption (above quote) - On the above quote you are referring to WhyLose and his comments about a suspected crash in his Vantage FX platforms. Your comment suggests the problem lies with the signal provider (Striker EA) - how could this be when the Striker wasn't installed? Additionally, the Striker EA is not a signal provider, it is an Expert Advisor which is attached directly to the chart of the trading platform.
Yes we do. Happy to share it offline: michael@theforexpolice.com - All of our clients have their own dedicated contact at Vantage FX as and when they need it. Vantage FX are fully aware of the Striker EA - one of many reasons why we chose a single broker. Clients feel confident in the product when the broker understands the product they are investing in. By working closely with a single broker we can also share ways to help improve the service on a number of levels.
We do have a Striker Signals Service - this is an additional service (we have 4 service options in total). Perhaps a link to our full range of services would help clear up any confusion: The Forex Police - Striker EA Activation Options
The Striker Signals Service send emails to clients with trade information from the Striker. For example, this morning the Striker EA sold EUR/USD at 1.3360 and closed with profit at 1.3326 (on all trading accounts). The signal would have been sent (by email) to clients who have subscribed to this service... The Signal: "Sell EUR/USD at 1.3360 | Stop/Loss: 1.3416 | Limit: 1.3326" - this service is designed for those who prefer to manually open trades.
I ask questions as needed in an attempt to seek clarity. I did not intend to offend you. I did not guess anything; just showing what has been done in the past, many of the tactics I list have been revealed on FPA and other forums as well as my own personal observations of past forex and futures trading products. If you are not doing any of these things, then you have nothing to worry about. The product performance will be able to speak for itself.I'm sorry 4evermaat but once again you have shown more uneducated statements derived from your head and only your head. To be frank, I find your quote above very insulting and offensive to say the least! Your statements are complete nonsense and unfounded but moreover they are a concoction of your own which has absolutely NO substance to it. In essence you are claiming we could be faking live statements and the broker is "churning" on our accounts; on the basis of what? A GUESS!
Why don't you just ask the questions instead of fabricating words aimed to make you appear knowledgeable when in reflection, these words just make you look silly and uneducated.
If you said, "Why do you only partner with one broker?"
We partner with one broker because...
(i) It is much easier to maintain client accounts when the brokers are the same. We have many clients using the Striker EA - maintenance must be seriously considered (server, platform updates etc).
(ii) There are differences across brokers in terms of price/time etc, the only way we could be truly transparent is if we can guarantee (as best we can) that our clients and ourselves trade at exactly the same times and have exactly the same account history. We win and lose together.
(iii) From a retail perspective, it provides security and consistency when partnered with a single broker. Communication between us and clients work better with a single broker. Relationships with other brokers could lead to confusion & inconsistencies.
(iv) We earn profits from the spread costs which are effectively Vantage FX's profits - we earn a small percentage from Vantage FX's profits... not the client. Like most brokers, Vantage FX earns revenues from spreads and as you well know everyone pays spreads to trade Forex.
(v) Software updates to the Striker EA are much more effective to carry out with single brokers. If we had 6 different brokers we could potentially require 6 different versions of the Striker because client A has a mini account with company X and client B a standard account with some other broker. Time differences are crucial to us as the Striker will only trade at specific times during the entire day - differences in broker = differences in time = different version of the software.
(vi) Introducing new brokers would mean extensive product (Striker EA) testing. We would prefer to invest our time into improving the Striker and the services we provide rather than needlessly investing time in other brokers. We don't feel it necessary as we are confident 100% in the service provided by Vantage FX.
I understand that you weren't directly accusing The Forex Police or Vantage FX of any wrong-doing but know that your assumptions can be enough to stigmatise both companies unfairly. We have worked extremely hard to preserve our reputation, hence the reason why we are completely transparent about all of our operations... I am sure if you properly read all of the posts in this thread and the content on our website you would realise that; we hide NOTHING. We've answered every question put to us honestly and with integrity. I found some of your comments to be inappropriate - particularly when you are guessing at what our operations might be rather than just asking the question. I could understand your response had we been reluctant to share information about us; you well know we haven't.
Please provide a link to these stats. Or if one of the mods can, that is fine also.
If you would please, I need the email address ending in @VantageFx.com , @VantageFx.com.au, or @VantageFx.co.uk
I did take a look at the url about activation options from earlier in the thread. The email signal service, in my opinion is not worthwhile unless you can see how the system works to make profit. It appears to be a black box signal service. These type of systems in my experience are extremely risky because the trader cannot be confident on how reliable the signal is until after the fact.
The other options you propose, 1) the live option that is some sort of proprietary copy service. This is free for 3 months, but the user has no idea of how the product works. So why risk live funds on this type of system?
2) The demo account option....but only you can setup the demo. Why doesn't the user setup their own demo account? How can the user verify the trading.
3) The access to the Striker EA live trading account. This one seems to be sensible. Is this like downloading the mt4 terminal for VantageFX and then login to your live account using the investor password? Does the user have access to the full history of the live account?
I ask questions as needed in an attempt to seek clarity. I did not intend to offend you. I did not guess anything; just showing what has been done in the past, many of the tactics I list have been revealed on FPA and other forums as well as my own personal observations of past forex and futures trading products. If you are not doing any of these things, then you have nothing to worry about. The product performance will be able to speak for itself.
You make some good points about partnering with a single broker in terms of simplicity on your end. As I said earlier, an EA or any mechanical trading system designed for a trading platform should not be so unique that it can only be profitable or credible with one broker. This is very inconvenient for the client, who for various reasons may want to trade with another broker. This is purely your choice from a business perspective, but the EA should have merit based on the profits it makes for the client, not only the introducing broker commissions earned by the EA developer/vendor.
I have not assumed anything yet, only stating observations. VantageFx is a regulated broker, and is capable of clarifying its position on the Striker EA product. It has to be clear with all of its product offerings and partnerships, as an improper association could potentially jeopardize its regulation.