volumeprofile
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Hi to all,
This is on the same topic as the thread about Exential Managed accounts in Dubai: https://www.forexpeacearmy.com/community/threads/tadawulme-exential-group.35478/
I am not from the region but I also have a friend invested in another Managed account in Dubai, and while we are at the subject (and a lot of people in the Exential thread seem to be from Dubai/UAE) it might be interesting to see what we might find out about this one and to me, especially if anyone from Dubai knows anything about the company? There are some similarities with Exential, but a whole lot of differences aswell.
First, the brand name is "Tradex Markets" and the company name is "AE Global Ltd" and webpage: http://tradex-markets.com/
The webpage doesn´t say much, so no red flag-ish punch lines like "we guarantee XX % each month" or similar.
They do offer managed accounts and a 1-month trial with only 500EUR. The reason for having such a low initial deposit is to have the investor try the account and getting used to the trading before getting bigger (fair enough). After 1 month, the account minimun is 5000EUR. Regarding past performance, they claim to have a strict internal policy, never to show any numbers, simply because they so easily can be manipulated (like we all have seen before). Instead they want to build a relation to the client, hence the trial accounts and quite small initial deposits. They did however market the past performance in the 3,2 % in average each month during the last 18 month period (before perf. fee, 35 %) with a DD lower than 5 %. My friend thought 500EUR was small enough to try it out and both performances have been good so he decided to try another 5000EUR.
So far all has been good. There is a steady growth, but not too good to be true. I am a trader myself so I know what´s reasonable and what´s not. Gaining almost exactly 10 % each month, like Exential is highly unlikely and I have never seen any trader or system being that frequent over time (big red flag to me). Tradex has been net positive on a monthly basis for at least 5-6 months now in the region of 1-5 % each month which is certainly not impossible. The service and support is also good and professional with most guys from western countries (UK, US etc). Also, the owners/founders are from UK according to what have been said.
There have been no issues with either deposits nor withdraws, and all have been handled professionally. The wires are done to Mashreq Bank, which is Dubai´s third largest bank. They claim the funds are segregated and ring-fenced for trading only, but like for every other broker you never know this for sure.
I don´t know much about the analysis in itself, but the main criteria’s for the trading strategy are quite simple. Only one trade is placed each day, in either EUR/USD or EUR/GBG. There is a SL on 15 pips and a TP at 25 pips, which makes a decent R/R with (historically) approx. 65 % winners. If find the “strategy” very appealing since it´s easy to monitor the risk (no big open DD:s or swift turns in the P&L like for grid or marts or even strategies with many open positions etc). Of course there´s a more complex strategy behind this, since you don´t deliver those returns if you don´t have a clear edge (or are a scam).
Risks and potential red flags:
- No trades in real time. They claim this is because they don´t want copy-cats which is fair, but perhaps not good enough. You can view all trades with a lag of a couple of hours, logged in to their Managed Account portal. However, they claim they will give access through “retail services” shortly, like a live trading room and a text message service (entry/exit) following the same traders as the ones running the Manages accounts. Also, they have notified their clients about a fund launch in Q4 and if this is the case, they step into a more regulated area of the financial industry, which might remove some doubts.
- The broker and the “Managers” are the same entity, Tradex Markets, which theoretically makes it quite possible to fabricate results since there is a lag. Is this even legal at all?
- I find it very hard to understand how the laws and regulations work in the region (Dubai, UAE). They claim they are RAK registered and regulated by RAK FSA but since this is clearly an offshore zone, it´s very hard to get any solid information about the company, AE Global Ltd or exactly what RAK does and what it means for the investor in terms of regulations and security. http://www.rakoffshore.org/
Questions:
- Has anyone heard about the company, or are invested themselves and can bring some light to this?
- Does anyone know anything about RAK and also how the regulatory system works in Dubai?
- Anything more that might be worth to bring forward?
Take care!
This is on the same topic as the thread about Exential Managed accounts in Dubai: https://www.forexpeacearmy.com/community/threads/tadawulme-exential-group.35478/
I am not from the region but I also have a friend invested in another Managed account in Dubai, and while we are at the subject (and a lot of people in the Exential thread seem to be from Dubai/UAE) it might be interesting to see what we might find out about this one and to me, especially if anyone from Dubai knows anything about the company? There are some similarities with Exential, but a whole lot of differences aswell.
First, the brand name is "Tradex Markets" and the company name is "AE Global Ltd" and webpage: http://tradex-markets.com/
The webpage doesn´t say much, so no red flag-ish punch lines like "we guarantee XX % each month" or similar.
They do offer managed accounts and a 1-month trial with only 500EUR. The reason for having such a low initial deposit is to have the investor try the account and getting used to the trading before getting bigger (fair enough). After 1 month, the account minimun is 5000EUR. Regarding past performance, they claim to have a strict internal policy, never to show any numbers, simply because they so easily can be manipulated (like we all have seen before). Instead they want to build a relation to the client, hence the trial accounts and quite small initial deposits. They did however market the past performance in the 3,2 % in average each month during the last 18 month period (before perf. fee, 35 %) with a DD lower than 5 %. My friend thought 500EUR was small enough to try it out and both performances have been good so he decided to try another 5000EUR.
So far all has been good. There is a steady growth, but not too good to be true. I am a trader myself so I know what´s reasonable and what´s not. Gaining almost exactly 10 % each month, like Exential is highly unlikely and I have never seen any trader or system being that frequent over time (big red flag to me). Tradex has been net positive on a monthly basis for at least 5-6 months now in the region of 1-5 % each month which is certainly not impossible. The service and support is also good and professional with most guys from western countries (UK, US etc). Also, the owners/founders are from UK according to what have been said.
There have been no issues with either deposits nor withdraws, and all have been handled professionally. The wires are done to Mashreq Bank, which is Dubai´s third largest bank. They claim the funds are segregated and ring-fenced for trading only, but like for every other broker you never know this for sure.
I don´t know much about the analysis in itself, but the main criteria’s for the trading strategy are quite simple. Only one trade is placed each day, in either EUR/USD or EUR/GBG. There is a SL on 15 pips and a TP at 25 pips, which makes a decent R/R with (historically) approx. 65 % winners. If find the “strategy” very appealing since it´s easy to monitor the risk (no big open DD:s or swift turns in the P&L like for grid or marts or even strategies with many open positions etc). Of course there´s a more complex strategy behind this, since you don´t deliver those returns if you don´t have a clear edge (or are a scam).
Risks and potential red flags:
- No trades in real time. They claim this is because they don´t want copy-cats which is fair, but perhaps not good enough. You can view all trades with a lag of a couple of hours, logged in to their Managed Account portal. However, they claim they will give access through “retail services” shortly, like a live trading room and a text message service (entry/exit) following the same traders as the ones running the Manages accounts. Also, they have notified their clients about a fund launch in Q4 and if this is the case, they step into a more regulated area of the financial industry, which might remove some doubts.
- The broker and the “Managers” are the same entity, Tradex Markets, which theoretically makes it quite possible to fabricate results since there is a lag. Is this even legal at all?
- I find it very hard to understand how the laws and regulations work in the region (Dubai, UAE). They claim they are RAK registered and regulated by RAK FSA but since this is clearly an offshore zone, it´s very hard to get any solid information about the company, AE Global Ltd or exactly what RAK does and what it means for the investor in terms of regulations and security. http://www.rakoffshore.org/
Questions:
- Has anyone heard about the company, or are invested themselves and can bring some light to this?
- Does anyone know anything about RAK and also how the regulatory system works in Dubai?
- Anything more that might be worth to bring forward?
Take care!
