A 50 percent welcome bonus is available for anyone who signs up with Managed Forex Ltd. Before starting the signing up process, and there are a few issues to note with this Forex service provider. What looks like a legit and worthy managed account service provider is far from transparent. After getting a few complaints from members, we decided to investigate the platform. A few disgruntled members are hoping to straighten things out. Read this detailed ManagedForexLtd (Managedforexltd.com) review for more.
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About Managed Forex Ltd
At first glance, one would think that this is a professional-looking website. We do not doubt it as the aesthetic is appealing to the eye. The web design is enough to make anyone less suspicious of the outcome of signing up. One way to spot the problems with the website is by clicking on the various pages. All the pages redirect users to the homepage, which is far from professional. When you click on the about us page, it doesn’t show any vendor’s background or history.
We don’t have any information on the trading background of the platform. Even the website is far from having any updates as the last update was in 2019. From the look of things, the platform claims to be located in London, UK. These are claims that are unfounded as we don’t have a visual of their offices. Another problem with the platform is the lack of proper information concerning their services.
Algo Strategy on Automated MT4 trading platform
The vendor is utilizing what’s described as a 100 percent Algo trading strategy. With this system, the strategy trades on specific assets while following built-in money management rules. There is an 8-step process to follow with this trading platform. These steps include formulation, speculation, preliminary testing, and optimization. The other final four steps include evaluating performance, trading of strategy, monitoring trading performance, and refinement. With these steps, the vendor is promised a full and profitable trading experience.
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Available 50 percent bonus
When we saw the welcome bonus, we immediately knew that this was a crowd puller. Most unregulated entities will try and bring in clients with a welcome bonus. The industry has time and again warned users from signing up with such entities. And the results speak for themselves as more and more complaints pop up. One reason why bonuses are a bone of contention is during withdrawal. The vendor will dictate terms depending on the welcome bonus offered to the client. There is no withdrawal unless you deposit the equivalent bonus received by the vendor.
As we have said, there has been a lot of chatter in regards to this service provider. Users should note that the vendor has also posted some positive comments on their homepage. What looks like a real trading platform is nothing but a shambolic excuse of a managed account. These are paid comments from non-existing users. The vendor has added words into the conversation from his mind.
According to the domain checker, their website went live on 1st October 2014. It means they are over five years old in the industry. It begs the question as to why there is no professionalism on their platform. With over five years in the game, one expects the platform to have leaped through boundaries. With over 12 unique changes on their servers, their servers seem to be a huge problem. And this is another pointer that we are dealing with an indecisive forex managed account provider.
Features of Managed Forex Ltd
Managed Forex Ltd is a forex managed account that uses the algorithmic strategy. We don’t have any trading results with this platform as they remain undisclosed. The price depends on the performance of the account. According to their website, there are no management fees on their accounts. The performance rate for all accounts is set at 25 percent, which is a bit too high. If the owner gets a profit of $100, the vendor takes 25 percent of it. And this is way too high considering the industry’s set standards.
Managed Forex Ltd is by far an unregulated entity that spells doom for users. With unregulated entities comes the uncertainty of security. There is no security of funds with such a platform, which is a bummer. Those who deposit funds with the vendor should know there is no insurance cover. With regulated entities, they must deposit an insurance cover with the regulators.
The problem with unregulated entities is that they tend to find ways to steal from users. A good example is the huge performance rate. With a regulated entity, the regulator would already flag it as a problem. When one deposits with the vendor, they are not sure who handles funds. The vendor might decide to close down the shop at any given time. If the vendor does not update his website, what will stop him from selling it? We have seen such scenarios, and it’s best to protect users.
Pros and Cons of Managed Forex Ltd
It seems that Managed Forex Ltd is furnishing users with four different account types. The vendor fails to describe the names of these accounts. They list the available depository amount from @25,000 to $250,000, which is the maximum. The chat tab was not of any help as we didn’t get any response from the vendor. This vendor plans to hide a lot of details from users. Kindly stay away from such a platform as the risk involved are high than the reward.
Contact and support
Even now, we have not received any feedback from either of the avenues. It seems the website is using a bot to ask for contact details. One has to leave their names and email address before adding their message. It looks like we are dealing with a platform that is harvesting data. Ensure you use a vendor who protects your privacy.
Performance and trading results of Managed Forex Ltd
Managed Forex Ltd is not producing any results of their live accounts. We could not see any profile from myfxbook, which is another problem. According to some users, the platform is using FX Blue as their main platform. We could verify it as none of the members have sent any screenshots. It seems the vendor is trying as much as possible to keep the results away from public eyes. And this is a pointer that we are dealing with a platform that has no trading etiquette.
Scam or Legit Managed Forex Ltd
Managed Forex Ltd is a platform that has a nice outlook with no actual performance to show. And this is a problem as we only recommend vendors who are real and offer transparency. Those who have signed up are yet to show any evidence of withdrawing funds. We have seen vendors who hire freelancers to post positive reviews on their behalf.
We will not be recommending this forex managed account provider for the above reasons. Please stay away from it.t. Unless they come up with real trading results that are verified, our stand remains the same.
Make sure to sign up with vetted trading robots that have years of trading experience. Experts and seasoned traders back these robots. The robots protect your interest as they help produce passive income.
Our entire team wishes everyone a happy and prosperous trading experience.
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