Review of fx perpetual – Forex managed Accounts
Whilst researching and writing my reviews I like to head straight down to the bottom of the page and see what the risk disclaimer says. As a rule I have found that if a company is licensed or using a regulated broker then this information can be found here. If there are no license numbers or details here of who it is they are an authorised representative of, and if it is very wordy with no actual license or registration numbers then, they are usually not regulated.
I used to think the FCA or regulated authority was all important but with some companies, and sometimes maybe even the better known ones, there is enough bad press to put me off, whether they are regulated or not. Having said this I still feel that I am more protected with a regulated forex managed account provider as they have to trade under certain guidelines.
My second consideration in the search is to look at where a company is located and what contact details are available. I like to think that someone could visit the office if they so choose, but definitely be able to call a telephone number local to the area they are located.
Then I have a look at their minimum investment amount and the percentage they take as a performance fee. It is nice to see the mention of using the high water mark system of fees too, where if the account takes losses then they don’t take a fee until the account is in profit again. I also feel that if the performance results are good, the company is likely to report them right there on the website, sing them from the rooftops as it were!
So with this in mind, here is what I have found out about fx perpetual. The risk disclaimer is very wordy and then in a separate section it mentions that the investment manager for the managed accounts is a regulated by the Financial Conduct Authority. So, some form of regulation then, and the contact details are for the management company, not fx perpetual themselves. There is a London telephone number and a map for the address they showing, everything looks good.
The information on the risk management strategies looks like the trades are well protected, but I have an uncomfortable undercurrent that they are just not there anymore. Too many things missing on the fx perpetual website, too many error messages coming up. Myfxbook says this system has been deleted by its creator.
I haven’t found anything regarding investment levels or performance fees, or performance results so I will have to check for any online reviews or other customer reviews for fx perpetual to get a clearer picture of who they are, or if indeed they are still around. Then I found something altogether different with a disclaimer that is not suitable for retail clients, medium term investment time of typically 5 years, and fx perpetual ltd is an exempted company incorporated in Bermuda.
I am now confused as to if these website are the same company and the first review link I found lead me to a scam article regarding being given unauthorised advice amongst other things. So rather than look any further, I am going to score fx perpetual 1 out of 5 and move on. I never give up so easily with my reviews but after researching so many companies I can tell that this is not the one for me.
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