Hi, my name is Sheila.
Forex Managed Accounts is a scam!! I did invest in this firm and earned zero profits. Their customer support is good, they welcome you very well and then later you come to know the reality.
I opened two accounts, both being handled by separate brokers as they said would be assigned within a week. I invested $800 in each for the beginning and thought as we proceed I’d invest more.
Now both these brokers started trading, firstly they were slow. They didn’t invest every day, they did once or twice a week. So almost after a month when I decided to check my accounts I saw no profits. I did see all the loss.
My first account had $321 left and the other $158 left. I spoke to them and in return they told me that this is how it worked and it wasn’t their fault that the market was bad. Now they are brokers, aren’t they supposed to know the best? I asked them whether at all would I be gaining anything and they confirmed and told me I would. I wasn’t ready to believe them though. But whatever!!
I decided not to go ahead with the trades!! I spoke to one of the brokers because he was leaving the firm, he told me that the first few trades are supposed to profit the company and not the client. I was shocked!! I didn’t know this firm would be such a scam!!
He told me clients do benefit but mostly it’s the firm. We invest in the firms developed companies with similar accounts and they get all your money.
This is bloody fraud!! FUCKING CRAZY!!
I didn’t want to work with them anymore so I asked them to withdraw my account, they asked me several reasons but I told them it was personal and couldn’t disclose. They told me they would close my account but I won’t be able to withdraw any cash that has already been credited.
I called them again next week to confirm closure and they told me they hadn’t even processed my request as of now. They told me this could take time, unbelievable! I suddenly saw profits in one of my accounts, I understood they were trying to hold me back but I told them I wasn’t interested and didn’t want to work with them anymore.
They also told me I could withdraw all my money if I traded till the end of the week and then closed the account. This had no logic, just ways to keep me with them and rob me more. But I decided to leave!!
THIS FIRM IS A SCAM! THEIR TRADING ONLY BENEFITS THEM AND NOT THE CLIENTS! I HAVE HAD FIRST HAND EXPERIENCE IN FRAUD, IT WAS UNBELIEABLE. HOW DECEPTIVE COULD THIS FIRM BE? HOW FALSE CAN THESE COMPANIES BE!! THESE INTERNET SCAMS ARE GETTING TO PEOPLE NOW A DAYS, SO PLEASE BE CAREFUL AND SPECIFICALLY DO NOT INVEST WITH THIS FIRM! FRAUD.
Forex Managed Accounts