Control Forex has multiple programs within its service that traders can choose and invest in. The company claims that its systems are unparalleled and super reliable, with verified records dating back to 2015. Our article will do a deep analysis of the trading system and its performance to verify the claims made by the developer.
How Control Forex works
Like any other account management service, the company requires you to open an account with a broker of their choice. Afterward, you have to send your portfolio credentials to the managers, and they will start trading.
Vendor transparency
The company does not provide any information on the portfolio of the account managers or their whereabouts. They claim that they have been working in the market since 2008 and are engaged in developing new forex systems and constant data analysis. Without any proof, we are unable to trust the statements.
Features
Control Forex has the following features:
- It has three different programs with varying risk and output that traders can choose from
- Offers live trading records on Myfxbook to track performance
- All the trades are managed automatically. There is no need of manual intervention from investors
- Customer support is ready to answer all your inquiries
- The team has been working since 2008 to develop systems that may prove to be profitable in the future
- You can withdraw your capital anytime. The company recommends informing them before doing so
Applied strategies
The account managers do not provide a word to explain the trading strategy they are using. To understand their trading methodology, we head over to Myfxbook records and analyze the history of their recommended system, i.e., ControlFX. They trade on multiple currency pairs and use grid and martingale strategies to come out of losing positions. The lot size doubles with every new position that opens when trade is negative. There are also accounts that use robots for trading.
Unfortunately, there are no backtesting results available that can verify the performance of the algorithms the company uses. This type of activity hurts the credibility of Control Forex.
Control Forex trading results
Verified trading records are available on Myfxbook that show performance from June 08, 2020, till June 23, 2021, for Control FX 25% risk. The system made an average monthly gain of 13.11% during the period, with a drawdown of 23.72%. The stated drawdown is high in regards to the monthly gain. It means that the expert advisor loses twice the output each month during trading. The winning rate stood at 73%, with a profit factor of 3.73. The best trade was $24307.40, while the worst was -$6862.07. There were a total of 95 trades. The robot made $40000 in deposits and $0 in withdrawals.
Pricing & refund
The company does not disclose the money needed to join its program. You have to mail them and ask for the performance fee that is associated with account management.
Other notes
There are no customer reviews that can guide us on the experience of other traders with Control Forex. This shows that traders are afraid of investing with the account managers due to zero transparency and high risk.
