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Author Topic: Forex Capital Bank  (Read 2639 times)

Offline adele

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Forex Capital Bank
« on: May 16, 2012, 02:51:16 AM »
I'm considering this signal provider/PAMM account manager. Has anyone tried them before?

Here is their website: http://forexcbank.com/.

Here are their verified real account statements:

http://www.fxstat.com/en/performances/view/Forex_Capital_Bank_FX_Managed_Account_4-10968
http://www.fxstat.com/en/performances/view/Forex_Capital_Bank_FX_Managed_Account-10848

According to them, the high drawdown from the second account is due to withdrawal.

They provide PAMM account management through HotForex for a 30% performance fee and minimum $5K account balance. Lot size is .1 for each $1K account balance. But the account is quite new:

http://pamm.hotforex.com/managerdetails/?l=58974123512456235458171&usermode=0

Frankly, I don't like to use HotForex because of the relatively high spreads and slow execution speed, but maybe if they are good, they might agree to move their PAMM account services to another broker or, better still, let us use a copier like SignalCopy to copy their signals.

They have over 8 months of verified history, PF of 1.73 to 2.21 and over 85% success rate, but their average pips per trade is rather low (around 3 pips).

If anyone has tried them, please share feedback here. 

Offline penny99

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Re: Forex Capital Bank
« Reply #1 on: May 24, 2012, 03:40:50 AM »
Ouch I hope you didnt join this one... I was tempted too

Offline Bigsteve

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Re: Forex Capital Bank
« Reply #2 on: May 24, 2012, 04:03:42 AM »
I'm considering this signal provider/PAMM account manager. Has anyone tried them before?

Here is their website: http://forexcbank.com/.

Here are their verified real account statements:

http://www.fxstat.com/en/performances/view/Forex_Capital_Bank_FX_Managed_Account_4-10968
http://www.fxstat.com/en/performances/view/Forex_Capital_Bank_FX_Managed_Account-10848

According to them, the high drawdown from the second account is due to withdrawal.

They provide PAMM account management through HotForex for a 30% performance fee and minimum $5K account balance. Lot size is .1 for each $1K account balance. But the account is quite new:

http://pamm.hotforex.com/managerdetails/?l=58974123512456235458171&usermode=0

Frankly, I don't like to use HotForex because of the relatively high spreads and slow execution speed, but maybe if they are good, they might agree to move their PAMM account services to another broker or, better still, let us use a copier like SignalCopy to copy their signals.

They have over 8 months of verified history, PF of 1.73 to 2.21 and over 85% success rate, but their average pips per trade is rather low (around 3 pips).

If anyone has tried them, please share feedback here.
Most PAMM managers know two months or so ahead of time if their strategy will crash and burn. Usually what they will do is close the winning trades and take commissions. They would leave mostly the losers or heavily hedged offset trades in "hold & hope" mode. I would never suspect a major withdrawal from a PAMM is causing drawdown since most traders open with itty bitty tiny little money like a thousand dollars or five hundred dollars or so. My rule of thumb is when you see a PAMM that looks good, usually I should "run" and delete even the internet cookies left behind. PAMMs are even more deceptive than EA's. Show me one that can survive trade closings and commissions and that never kept trades open for mopre than five days and still survived it all.

Offline adele

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Re: Forex Capital Bank
« Reply #3 on: May 24, 2012, 07:45:41 AM »
Ouch I hope you didnt join this one... I was tempted too

Yes, luckily I didn't. I was uncomfortable with the low pips/trade and $5K minimum deposit requirement. Their usual target is just 3 pips. When I saw how much they were risking just to get this (.1 lot/$1K or .5 lots/$5K as a starter; if it goes the wrong direction, they will increase the lot size by 50% for each additional level) then I knew this choice was definitely out.

UPDATE: The FxStat account statement has not been updated.  ::)
« Last Edit: May 24, 2012, 09:23:07 AM by adele »

 

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