Marcelo Rosa
Master Sergeant
- Messages
- 265
Dear members, another company to be investigated: Fx Limitless
This is the FB page: https://www.facebook.com/FXLimitless1/
Apparently it's in Dubai - UAE.
Those are the myfxbook links:
http://www.myfxbook.com/members/FXLimitless1/fxlimitless1/1802790
http://www.myfxbook.com/members/FXLimitless1/fxlimitless3/1720287
http://www.myfxbook.com/members/FXLimitless1/fxlimitless2/1754748
The broker behind is Alpari Russia.
They have a PAMM account and they will launch a website on NOV 15th: http://www.fxlimitless.com
My opinion:
Performance is about 10% a month and one of the account generated +48% in one single month, with a risk of about 50% of the capital, this is too much in my opinion.
Everything is set to privet on myfxbook, so you can't really see the trades, but I noticed that the equity sometimes is not aligned with balance, this means there were opened trades that were generating losses (up to 50% in one account) and eventually it reversed and became positive, in this situation, a crash in the market (which it can happen), can wipe out the whole account. It doesn't show good equity management to me.
As far I know, Alpari is no longer regulated under FCA. This is the description from the Russian website:
Apparently there is a trader in Dubai, but I'm yet to find more information about it.
I would rather trade with companies regulated under FCA or NFA, anything outside those regions should be treated with caution.
Let me know your opinion. Take care everyone, invest wisely
This is the FB page: https://www.facebook.com/FXLimitless1/
Apparently it's in Dubai - UAE.
Those are the myfxbook links:
http://www.myfxbook.com/members/FXLimitless1/fxlimitless1/1802790
http://www.myfxbook.com/members/FXLimitless1/fxlimitless3/1720287
http://www.myfxbook.com/members/FXLimitless1/fxlimitless2/1754748
The broker behind is Alpari Russia.
They have a PAMM account and they will launch a website on NOV 15th: http://www.fxlimitless.com
My opinion:
Performance is about 10% a month and one of the account generated +48% in one single month, with a risk of about 50% of the capital, this is too much in my opinion.
Everything is set to privet on myfxbook, so you can't really see the trades, but I noticed that the equity sometimes is not aligned with balance, this means there were opened trades that were generating losses (up to 50% in one account) and eventually it reversed and became positive, in this situation, a crash in the market (which it can happen), can wipe out the whole account. It doesn't show good equity management to me.
As far I know, Alpari is no longer regulated under FCA. This is the description from the Russian website:
- Alpari Limited, Cedar Hill Crest, Villa, Kingstown VC0100, Saint Vincent and the Grenadines, West Indies, is incorporated under registered number 20389 IBC 2012 by the Registrar of International Business Companies, registered by the Financial Services Authority of Saint Vincent and the Grenadines.
- Alpari Limited, 60 Market Square, Belize City, Belize, is incorporated under registered number 137,509, authorized by the International Financial Services Commission of Belize, license number IFSC/60/301/TS/16.
- Alpari Research & Analysis Limited, 17 Ensign House, Admirals Way, Canary Wharf, London, United Kingdom, E14 9XQ (financial research and analysis for the Alpari сompanies).
Source: alpari.com, "PAMM Account FXLimitless"
Apparently there is a trader in Dubai, but I'm yet to find more information about it.
I would rather trade with companies regulated under FCA or NFA, anything outside those regions should be treated with caution.
Let me know your opinion. Take care everyone, invest wisely
