Performance Tests vs Reviews of the Forex Services and Products

Forex88

Recruit
Messages
5
Hi,

I'm new to trading (I have traded stocks, and made some profits) and very new to Forex.

I'm looking into an Expert Advisor or Managed Account, so that I can make higher passive ROI than putting the money on my bank account.

When I look into the Performance Tests and Reviews on this site, I find that some programs have 5 star reviews, but scores bad on the tests, while others have 3 or less star reviews, but scores high on the tests.

I personally rely more on tests than on reviews, but what do you think one should rely more on? Tests or reviews?
 

NicholasM

Corporal
Messages
100
Hi,

I'm new to trading (I have traded stocks, and made some profits) and very new to Forex.

I'm looking into an Expert Advisor or Managed Account, so that I can make higher passive ROI than putting the money on my bank account.

When I look into the Performance Tests and Reviews on this site, I find that some programs have 5 star reviews, but scores bad on the tests, while others have 3 or less star reviews, but scores high on the tests.

I personally rely more on tests than on reviews, but what do you think one should rely more on? Tests or reviews?
Hello Forex88, in my opinion, it could take more than just looking at these ratings. If you are looking to open a fully managed Forex account, then perhaps the basic concepts will be good enough for you, But personally I would recommend that you try to understand the market brick & motor because in the ned you may want to do it yourself. There are several online resources some free others premium where you could get to advance your skills, and as you point out, checking ratings from various review sites including FPA is just the first step.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,572
You need to look at the tests and the reviews together.

A successful test doesn't mean much if the company won't help clients get set up with the product. A negative review after a small drawdown could just mean that the reviewer signed up just before those losses happened. Older positive reviews during a profitable period don't mean much if the test then shows large losses.
 

Pharaoh

Colonel
Messages
19,771
Too many reviewers will rate a tested item based on only a few days of performance. Look for the reviewers who have left followups - those are generally more reliable. Also, each test and review page has a discussion thread. Some are empty, but others are very active and may even have the owner of the reviewed site active in the discussion.
 

Vo32ss

Private, 1st Class
Messages
40
Oh, why do you even need any passive formats? I think the market needs to keep everything under personal control so that you can manage your own money. Even if you're having a hard time right now, don't give up, you can handle the market. Everyone started somehow.
 

Martinvarg

Recruit
Messages
3
This is a good advice to start over by yourself. You would be in a better situation to manage your money instead of someone else. It seems complex at the starting but once you get into it - your interest in trading will keep on increasing. If you have some spare time, then you should start with the basics of Forex.
 

Spellkiller

Private, 1st Class
Messages
56
I think we should look for feedback and also check for regulation and license. Plus, you need to get some kind of contract that regulates your rights and safety.
Because trusting other people with your money is always a big enough risk!
 
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