Home Forex Robots FXMAC Review

FXMAC Review

189
0
FXMAC

FXMAC is a managed account service that provides the expertise and experience needed for succeeding in Forex. The firm offers several investment programs that it claims to be highly profitable and these include bespoke programs. As per the firm, its main goal is to provide access to clients to the consistent and profitable strategies it uses. 

How FXMAC works

A person sitting at his desk speaking on the phone.

Forex Managed Accounts (FxMAC) is based in the UK with offices in Saint Vincent and the Grenadines and a commercial office in London. The firm provides location address, telephone number, and email address for contact. A live chat feature is also present on the official site for customer support. As per the About Us section info on the website, the firm has been providing the managed account services since 2012. 

The company specializes in Intraday trading services and promises low drawdown risk to its investors. Some of the features include applying the SL and TP points to every open position, consolidating steady profits every month, and balancing the low drawdown with the monthly profit. 

Accessing the services of this company is an easy process as per the website info. You need to first use the firm’s guidelines to open a broker account and sign an agreement with the company. Once you complete these two steps, the company will take care of trading the funds you have invested. According to the vendor, you need to only view your balance growing.  The service claims to use the best asset managers for growing the investments you make.

Applied strategies

As per the vendor info, the firm applies different strategies to the different investment programs it offers. The approaches used include trend following, intraday night strategy, and more. For the bespoke program, the firm uses a combination of strategies with profitability of around 75%. 

There is no further explanation provided on the trading approaches which makes it difficult to assess the efficacy of the strategies. It also raises our suspicion about the reliability of the company. The absence of backtests further confirms our doubts. Since backtests are important to know about the efficacy of the strategy and the performance, the absence raises a red flag.

FXMAC trading results

The vendor claims to provide real account trading results of its investment programs verified by sites like myfxbook and FXStat. While we can see images of the myfxbook verified account stats, the link to the myfxbook site appears to be broken. We are unable to find more details about real account trading. Here is an image of the results of one of the investment programs of the company.

Trading results of FXMAC.

From the above screenshot, we can see the account using aggressive trading mode shows a total profit of 803.37% and a drawdown of 50.88%. The daily profit is 1.08% and the monthly profit is 37.86%. The high drawdown is contrary to the claims of the firm that it would keep the drawdown low. Further, the broken links appear suspicious. 

Pricing & refund

Performance charges of FXMAC.

This service collects a performance fee that ranges from 25% up to 35% based on the investment amount. For instance, investments of more than $5000 require a 35% fee, while investments ranging from $10000 require a performance fee of 25%. The minimum recommended investment varies based on the program you choose and ranges from $3000 up to $15000.  

There is no mention of a registration fee and money-back guarantee. Compared to the performance charges of other competitor firms, the percentage charged here is not high. But given the fact that the company does not divulge much info about its approach and performance, the expense does not seem worth it.

Customer reviews

We found 5 reviews for this company on the Forexpeacearmy site with a rating of 3.5/5.  According to the site, the company had attempted to furnish false information on its performance tests. Here are some of the feedbacks from users:

FXMAX page on the Forex Peace Army website.
User review for FXMAC.
‘This is a SCAM company’ - customer review on FPA.

From the above responses, we can see that the performance is very bad and similar to random gambling. Another user mentions that the firm is a scam company.  Furthermore, there are no recent reviews for this company which makes us suspect that it is not performing well.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

7  +    =  13