I had been investigating joining a managed fx program but so many of them out there are just scams. Then I heard about PM.
I did pay the 2k for Prophetmax but did not fund my account. As soon as I had paid, I felt that there was just not enough facts to go on. I did not feel comfortable with the brokerage that was being used. Felt it was too new and therefore too risky for my likings. Also did not like that one was not to contact the brokerage directly....and why would that be? Was this brokerage the one that would be used by these clients that had millions?
It is too bad that people can't get the 2k refunded tho as it would appear that losses incurred from trading are lost forever. And clearly, these losses should not have occurred. The above post by Carel Pieters indicated that they contacted PM the day before when trading could have been halted and losses been less but no action was taken and trading continued.
As I searched online for a managed fx company I would be comfortable with, I actually came across the company that PM was using for the trading. And that was before PM revealed who they were using. I actually contacted this group before I knew of their connection to PM but at that time, they said they were not taking any new clients. I wondered if there was some connection between this company and PM because the results posted on their website were very similar to what PM stated and they used the same brokerage in NZ.
I eventually did find a managed fx company I felt comfortable with and using a well known brokerage. And any dealing with this brokerage is done entirely on my own, unlike the system PM uses.
I put 10k in last week and am up 3.1% (less the eventual 30% Performance fee). I have had 11 trades with 2 losses. I have had a lot of contact with the main money manager - again, something not allowed within PM. So I feel comfortable with the company trust wise but I also know this is high risk but also high reward, if the trader's practice good money management which is imperative to succeed in FX trading.
I did pay the 2k for Prophetmax but did not fund my account. As soon as I had paid, I felt that there was just not enough facts to go on. I did not feel comfortable with the brokerage that was being used. Felt it was too new and therefore too risky for my likings. Also did not like that one was not to contact the brokerage directly....and why would that be? Was this brokerage the one that would be used by these clients that had millions?
It is too bad that people can't get the 2k refunded tho as it would appear that losses incurred from trading are lost forever. And clearly, these losses should not have occurred. The above post by Carel Pieters indicated that they contacted PM the day before when trading could have been halted and losses been less but no action was taken and trading continued.
As I searched online for a managed fx company I would be comfortable with, I actually came across the company that PM was using for the trading. And that was before PM revealed who they were using. I actually contacted this group before I knew of their connection to PM but at that time, they said they were not taking any new clients. I wondered if there was some connection between this company and PM because the results posted on their website were very similar to what PM stated and they used the same brokerage in NZ.
I eventually did find a managed fx company I felt comfortable with and using a well known brokerage. And any dealing with this brokerage is done entirely on my own, unlike the system PM uses.
I put 10k in last week and am up 3.1% (less the eventual 30% Performance fee). I have had 11 trades with 2 losses. I have had a lot of contact with the main money manager - again, something not allowed within PM. So I feel comfortable with the company trust wise but I also know this is high risk but also high reward, if the trader's practice good money management which is imperative to succeed in FX trading.