KiteForex.com Review
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1 REVIEWS
Out of business
Updated: Apr 13, 2022
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Out of business
KiteForex.com Performance tests
| Status | Account | Product | P/L Weekly,% | Weeks tested | P/L Gross,% |
|---|---|---|---|---|---|
| Managed Fx Account by KiteForex | -18.48 | 21.1 | -98.658 |
Please click the Product name to see detailed test analytics, trading statement, and use our Performance Simulator.
1 •
1 REVIEWS
Recent User Reviews of KiteForex.com
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Fabio Araujo
Novo Hamburgo, Brazil,
Feb 19, 2012,
Guest
Please take note that in their account - http://www.myfxbook.com/members/nirmladevi1212/40562/218325 - they deposited about $17k and have about $19k. Their absolute gain was 14%, very different from the 350% currently shown by FPA. I think FPA is counting their deposit made in Feb 9 and 10 as profit.
Review Moderation Team Note: The programmers tell us that deposits and withdrawals are dealt with a a time weighted fashion. This can cause a temporary spike in profit or loss percentages, but that should usually smooth out within a week.
Review Moderation Team Note: The programmers tell us that deposits and withdrawals are dealt with a a time weighted fashion. This can cause a temporary spike in profit or loss percentages, but that should usually smooth out within a week.
F
Reply by Kiteforex.com submitted Feb 19, 2012:
Hi there Fabio
I agree that 350% is wrong calcualtion. But 14% is also not absolutely correct because the capital of now was not the capital of initial date of trading. Actually, myfxbook calculate the profit/loss of each trade based on capital/balance of that time. So according to % profit of each trade as per balance of that time , the total profit generated is shown as Gain +54.44%.
Absolute gain is calculated on the basis of total deposit and total profit . So it does not provide actual profitability report. Because you know that $17004.70 is the total deposit but it was not the deposit from the start of very first date of trading. I hope you can understand difference between GAIN and ABSOLUTE GAIN.
J
John Taylor
US, USA,
Feb 18, 2012,
Guest
I would urge EVERYONE to look at the ACTUAL statement on the LIVE account with a fine tooth comb. Note regular deposits being made during the 12/22/2011~2/17/2012 test period. For instance, deposits of $1,000 were made on 2/12/2012 and 2/9/2012. In addition, there were deposits of $4,000 made on 2/10/2012, $1007 on 2/10/2012, and $2668 on 2/7/2012, among others. On the other hand, there are no substantial withdrawals during this period. So, the so-called $2,380.06 “profit” as of 2/17/2012 or a total of 339 pips during the 2-month period is misleading. I certainly would like to see what the numbers would look like without the periodic deposits.
This is in contrast to the real account of Swiss Combo, showing an initial (and ONLY) deposit of $5985 in 2/1/2012, which garnered $952.83 or 1,468 pips in REAL profit as of 2/14/2012, with a very smooth equity curve, which is VERY impressive.
In any case, I would like to report the misleading information presented by KiteForex Managed Fx to FPA.
This is in contrast to the real account of Swiss Combo, showing an initial (and ONLY) deposit of $5985 in 2/1/2012, which garnered $952.83 or 1,468 pips in REAL profit as of 2/14/2012, with a very smooth equity curve, which is VERY impressive.
In any case, I would like to report the misleading information presented by KiteForex Managed Fx to FPA.
J
Reply by Kiteforex.com submitted Feb 19, 2012:
Hello there John
We are not misleading. Actually the growth, pips and profit is calculated by FPA, we don't calculate anything in this matter. We have just given account no. and investor password to FPA. If the calculation of profit is wrong, then i hope that FPA will rectify it soon.
And, this is a PAMM manager's account, So deposits by clients are added to this account . Also in future, more deposits will be added. The More clients will join our PAMM group, the more deposit will be added.
Please read about PAMM system and you will know the rest info.
For exact calculation of profit/growth and pips of profit, you must visit 'statement page' of our website where you can find myfxbook statement.
Thus your 1 star review regarding this is irrelevant and i urge FPA to moderate your rating.
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Francis
Santiago, Chile,
Feb 15, 2012,
Guest
This looks like keonconsultancy reborn. Please compare the websites keonconsultancy.com and this one. Identical ads, identical structure to the site... They may well take down the keonconsultancy site because they all all investors money. I would be very careful with KiteForex
F
Reply by Kiteforex.com submitted Feb 18, 2012:
Hello there Francis,
What's wrong if some other websites are taking our 'fund management service'. Even if you have a website and you want to publish our ad , you want to take our services and if you want to work as HFaffiliate with our fund management services. You can do this. Any person or website can hire us , can take our services and can ad for us.
There are a lot of traders and fund managers who have appointed us for their clients. And they are free to get business from their own site with our services. They work on revenue sharing basis.