Unbiased Forex Broker Experts

Currensee.com Review Visit site

Updated: Jul 17, 2016
2.912 · 28 REVIEWS
Is this your company?

Live discussion

Join live discussion of Currensee.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

Court cases

File a case

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty0
2.912 · 28 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

greece, Greece,
Sep 15, 2014,
Guest

very poor performance while most of leaders have a winning ratio 80 or more percent in my account im losing money.they have not a risk reward ratio winning traades are closed to 20 or 40 pips while losing ones are left to 600 or 700 pips.i dont see any strategy to their entries as soon as you add a leader to your portfolio they open a trade.most of my trades are against the current trend.liwwk.q cost me the most loss.when you are 50 or 60 pips down they open a new trade just to add to your loss.i had a trade with them with total loss of 2000 pips.i doubt if there is a broker out there that wait 600 pips to turn in their favor.and i dont see why oanda which is the best broker ever add this s..t to their site.there are other programs like zulu trade with more profits and way more followers.just dont throw away your money go buy something or trade it by yourself
Jacksonville, USA,
Jul 15, 2014,
Guest

Oanda bought Currensee. I'm up 3% on my account balance after one month. LW Trading is the only trader that is producing results that satisfy me (their 'Q' strategy). I'm giving it a 'wait and see' approach, but so far consistent small daily gains. Alpha Harvest is good, but too few trades, run too long, and overly conservative for me. Agree with other comments - their platform is buggy, and they dodge the real issues. But I can see clearly on the Oanda platform what is happening, and am satisfied so far.
Dublin, Ireland,
Apr 5, 2013,
Guest

If you're in a hurry: DON'T GO NEAR THESE THIEVING B******S!

If you're not: First of all, they charge success fees for successful trades but nothing happens when trades are unsuccessful, which means that, say, you break even at the end of the year according to their figures, but because you got charged for successful trades you have to be doing a lot better than break even to actually break even.

In other words, if percentage-wise you are at 0% you'd think you haven't made or lost anything but you still have to deduct all of the success fees which means you have to be up a good few percents to not make any money at all. Keep this in mind when they tell you how great it is that you're only charged after successful trades.

Secondly, don't even dream of getting accurate and transparent records of your trades unless you log in to several different places and download several files and copy and paste and fill in forms and so on and so forth. Again, the numbers you see on your profile page are cosmeticized.

To give them their fair due, they are quick in responding to emails and explaining why they're taking your money for doing a lousy job.
NY, NY, USA,
Dec 13, 2012,
Guest

This box says to give my honest opinion so lets start from the top.

The trade leaders as they call them are extremely volatile, and are not experienced fund mangers by any means. For the most part they are just one guy in China or Eastern Europe that trades a few minutes a day. The most popular trader they have is called Joiny Jiang, it is very likely he wouldn't even pass the smell test for a serious institutional investor. The rest of the trade leaders are cut from the same cloth, one man operations, barely any assets, and volatility that a river boat gambler couldn't even stomach.

This firm claims to have uncorrelated returns, and holds it's self out as an alternative investment opportunity, but in reality there are so many reasons to stay away from this company. The performance number they post are all GROSS of fee's, the spreads are VERY high compared to market rates, and the worst part is the slippage. The performance numbers they post are not only gross of fee's but they are not even returns generated in a clients account- they are performance in the managers account. After the trades get routed and executed in your account, after the slippage, after the management and performance fee's are taken out, you are left with a FAR lower number than they claim. It is VERY unethical and sleazy to post numbers Gross of fee's they haven't even been generated in a client account. There have been incidences where the trade leader made 30% in a month according the firm, but the investor or you the client actually LOST money. They are selling you on over inflated performance numbers to give the WOW factor to the retail investor that has no experience and strives for huge performance numbers.

Their marketing materials show the performance of all their traders versus an index like the S&P, and it shows something completely ridicules like 60-100% a year if you were to be invested in everyone of the traders. Here is where they trick you- they take out managers that they kicked off the platform, so they are showing a historical number that has been fluffed up, and is more deceiving than a back tested pro forma number. On top of not including the managers that were removed, all the numbers are gross, don't include any of the really high fee's, any of the slippage, and it just is there to trick any investor into thinking that he can somehow generate monster returns simply by following these so called "vetted" traders. For example: If 3 months ago you got material showing overall performance of their program was 1% in January, now this month you get the same material but performance for that January is now 8%, because they removed a trader from the platform, and removed his back performance as well. By removing this trader it makes all their numbers look better. Smart institutional investors would not be mislead- retail investors I can't say the same for.

These are not institutional traders and are far from the caliber of an experienced fund manger. The performance claimed by the firm most likely will never be what is generated in your account. The management of this firm clearly knows absolutely nothing about this industry, and is more suited for selling used cars than a self proclaimed alternative investment product. They have no high caliber fund managers to offer, nobody with pedigree, just a bunch of gross numbers, and performance that wan't generated in any client accounts. In my opinion stay away from this place, far far away.
Turin, Italy,
Sep 15, 2012,
Guest

Currensee looks to be well organized and indeed you can easily choose and change the Trade Leader (TL) you prefer to use. You get good online reports, you can change your risk limits, lot size, and so on. But these are the only positive things I can say. Trade Leaders have very poor performances, in spite of what is shown as past results. Probably most of them are EA’s (robots) not even manually monitored, and this can explain some very awful trades. In addition, many TL add positions to loosing positions (much like to the risky martingale methodology), so when they take the wrong direction the loss is very big. I strongly do not suggest to use Currensee.
Vancouver, Canada,
Jun 12, 2012,
Guest

I used Ava FX as my broker, I will review them separately.
This service sucks. The reported results didn't marry my performance at all. I only selected traders showing a 'high' rating which I was told meant that what they traded and what I traded were supposed to be highly correlated. Not in my experience. High number of small wins on the trader's part looks like a nice 5-10% increase on his but at +1-8 pips it was death by a thousand cuts on my account after the margins, spread fees etc. Only one winner here and that was the broker.

None of my traders stayed enough in the black for me to pay any commissions and then all three had major brain farts and had drawdowns of 10-20% overnight. Funny how they never let the winning trades run as long as the losing ones.

Poor, inexperienced traders (which my friends had told me would be the case - wish I had listened now).

It is too good to be true guys, steer well clear. There were only twos winner in this game - Ava Fx and Currensee, Two out of three IS bad.

Ironically the Image code below here that I need to read to get this review posted is MUG 92. How appropriate.
Colorado, USA,
Jun 11, 2012,
Guest

DON'T DO IT! IT IS A TOTAL SCAM! ACCOUNT WENT FROM $5K TO ABOUT $1700. YOU WILL NOT HAVE THE SAME RESULTS AS THEY POST.
US,
Sep 17, 2011,
Guest

Very underhanded - they do not admit they widen spreads on your account so they can skim more out of it with extra commission. I actually talked with higher ups (VP level) and they lied to me with no compunction. They take their performance fee separately which is calculated as a percentage of funds.
Secondly - intratrade drawdown is hidden. In other words if a trader holds a position to -1000 pips and then waits it out for a year and closes at breakeven the -1000 pips will never show in the system as drawdown.
I pointed out a system to them (that i had chosen based on description) that stated -100 pips emergency stoploss. Well the system kept position at -250 pips and when I asked them how they could allow this they said "we don't get involved in how the system is described".
The bottom line is they are not interested in whether your account is traded safely as long as they get their share - commission AND management fee.
There are many other issues with this service that are of technical nature that also make it a bad decision for managing money long term but the lack of ethics in this company in the way they handled these issues outlined above for me was clincher. I am out after 3 months.
UK,
Aug 22, 2011,
Guest

I followed Currensee for 12 months, whilst I was trading full-time myself. Early this year I took another job and thought that this would be a good time to use Currensee.

Setting the account up with them and FXCM was easy enough. I did get a wierd out of hrs email from the sales guy at the weekend asking me - how much I deposited. I ignored his query.

I allocated my £10k amongst 5 diferent traders based on their bio and trading style. First 2 weeks was fine - up 2 % and going well. So I left to auto pilot and went on vacation.

That's when the issues started. Whilst on the sun lounger I accessed my account with FXCM and my charts to see some pretty horrible position on USDCAD that was being carried over the weekend. OK I thought, this is not my trade technically, I will wait for the trader to make his call. As the week rolled on and I took a look at the charts it was clear the trader couldn't pull the plug and take the loss - down the price went passed 3 support zones without him closing out the trade.

When I got home I started paying more attention to the trades taken. Most were quite bizarre and made very little technical sense. It was also clear that not one trader I used in 2 months used Stop Losses. I found hope in almost every losing trade.

When the the market crashed in early August one of my traders brought the AUSUSD 3 times on the way down - trying to average our his loss and losing 4 % on one trade strategy.

The maths on the equity growth for each trader do not make sense either - and cannot get an answer from Currensee to explain it.

Most wins I had were very small and the losses big. So the winrate was a meaningless figure.

When I used the Customer Support one day this guy had no idea about forex trading and didn't know the difference between EURCAD and AUDCAD.....he couldn't help my query regarding one of the positions that had been placed. In the end he hun up on me.

Currensee didn't work for me - down 10% in 8 weeks.
I can do that thanks!
USA,
Jul 8, 2011,
Guest

I have been with the TLIP for 4 months and enjoy my 4 to 5 % per month performance. I think it is a shame that people from other firms can bash companies like currensee to try and help their own businesses.