NoveeForex.com

chris@noveeforex.com

NoveeForex.com Representative
Messages
3
Hello everyone, I am the Managing partner at NoveeForex.com.

We currently trade with a highly monitored Maringale system with very conservative stop losses. We are managing just under $250K, and our YTD monthly return is around 10%. We've had some higher floating losses in the past, however we have always closed in profit. Our Trading partner has also revamped our system starting 4/8/2013 which has resulting in significantly less floating loss and risk.

Please check us out at Managed Forex Trading | Novee Forex !

If anyone has any questions about our managed account services, please feel free to ask!

Warm regards,
Chris
 
Last edited:

chris@noveeforex.com

NoveeForex.com Representative
Messages
3
Monthly gain update

Hi guys, I'm going to try and start posting more here as this is a great forum, I've just been so busy I haven't had much time. Anyways, below are our recent monthly returns. If anyone has any questions or would like more information, please contact me at info@noveeforex.com or feel free to post in the forum here with questions or comments.

June 11.46%
July 11.87%
August to date (Aug 14th) 4.34%

NoveeForex Hotforex - FXSTAT

Warm regards,
Chris
 

amo1ro

Private
Messages
13
Hi Guys,

I was one the Noveeforex investors and the account just got blown up yesterday as 09 Dec 2013..huge draw down...I am not blaming them because of this but we had a 50% account protection agreement which of course somehow didn`t work.

Here is the short story.

I have (had) a PAMM, managed account with them there is the trader who is authorized to place the trades, NoveeForex as the Broker and me as a Client I have a 50% Account Protection Agreement in place with the Broker however my account just right know has been blown up.

Of course someone forgot to notify me about lifting up the protection agreement...I mean they did when the account had larger drawdown than 50% even though they informed me because I asked them where the hell is the 50% Account Protection agreement. Now everyone is blaming on everyone...What is more the Broker said that the account protection has to be adjusted according to the account size periodically which based on their statement hasn`t been done since the very beginning when account size was 10K USD. but finally I the client I`m the biggest looser of this...account size of 281K USD diminished to 0...

Any suggestions, ideas are welcome! This is too much to swallow and simple walk away without doing anything...

Thank you in advance!

My concern with all of this is as I am an investor I don`t have a clue and don`t have time to deal with daily news whatever so either it is the responsibility of the Broker (as far as have the agreement with them) or the Account Manager, I mean the trader who is expert in trading! The account protection in my opinion is useful tool and should be executed or either the broker or the account manager should have been notify me before lifting up.

Thank you very much!
 

chris@noveeforex.com

NoveeForex.com Representative
Messages
3
Hi Guys,

I was one the Noveeforex investors and the account just got blown up yesterday as 09 Dec 2013..huge draw down...I am not blaming them because of this but we had a 50% account protection agreement which of course somehow didn`t work.

Here is the short story.

I have (had) a PAMM, managed account with them there is the trader who is authorized to place the trades, NoveeForex as the Broker and me as a Client I have a 50% Account Protection Agreement in place with the Broker however my account just right know has been blown up.

Of course someone forgot to notify me about lifting up the protection agreement...I mean they did when the account had larger drawdown than 50% even though they informed me because I asked them where the hell is the 50% Account Protection agreement. Now everyone is blaming on everyone...What is more the Broker said that the account protection has to be adjusted according to the account size periodically which based on their statement hasn`t been done since the very beginning when account size was 10K USD. but finally I the client I`m the biggest looser of this...account size of 281K USD diminished to 0...

Any suggestions, ideas are welcome! This is too much to swallow and simple walk away without doing anything...

Thank you in advance!

My concern with all of this is as I am an investor I don`t have a clue and don`t have time to deal with daily news whatever so either it is the responsibility of the Broker (as far as have the agreement with them) or the Account Manager, I mean the trader who is expert in trading! The account protection in my opinion is useful tool and should be executed or either the broker or the account manager should have been notify me before lifting up.

Thank you very much!


Hi there,

We absolutely suffered some miscommunications in regards to the hard stop agreement, and for this I sincerely apologize to all investors. We also did have a margin call, however we have been in contact with our investor above and we are optimistic we can recover all sustained losses given time and the chance.


Just for clarification, we are a managed account service, NOT a brokerage.

Thank you and we look forward to working with you and all our clients for a successful and profitable 2014.


Any questions or comments, please kindly email me directly at info@noveeforex.com


Warm regards,
Chris
 
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