Years of presence on markets and dealing with different kinds of trading service providers have only made us improve our due-dilligence proccess. Main objective of each investment into forex managed account is to achieve profit. Unfortunatelly there have been uncountable cases of fraud where investors got scammed and lost their funds. This was due to many reasons, but the most important is understimating legitimity of past performance and insufficient credibility.
Way back, there was no simple way of tracking the results and everybody relied on a word of investment manager or questionable reporting methods. Since then a lot has changed as there are independent, 3rd party tracking services. Unfortunatelly we have also came accross fraud even on these sites where some traders even work with bucketshop brokers who are willing to manipulate the results in order to attract clients. Another problem is that not all traders trade via Metatrader platform and it’s not possible to verify such trading via some services e.g. MyFXBook.
Therefore one can never be safe no matter where they reach out. As noone guarantees anything in managed account programs, it is crucial to choose such managed account trader that achieves satisfactory and enduring results. It is also crucial to find broker who is able to implement protective measure to prevent unwanted drawdowns and loss of full capital. To verify the results, we have also applied several principles that (based on our experience) work. Our procedure is thorough and makes sure we confirm it’s authenticity.
- At first we request simple track record
- We then ask for some third party verification link such as MyFXBook, FXBlue
- Whether trader provides access to third part verification or not, we require to check trading account directly, the best is to log in to trading account and check trading activity there or in broker’s back-office
- We only start working with traders whose brokers are regulated in proper countries with reputable regulatory body and strict reporting rules so we prevent results manipulation
- Once we gain temporary access to traders trading account we share this access with our auditing company.
- Independent audit company verifies authenticity of results and makes them official.
- Once we start working with asset managers they start trading on our account with our own funds.
- As a result we present you audited performance from reputable audit company, link to 3rd party monitoring verification. We then also perform yearly audit of our own results.
We have decided to work with one of the best and most reputable audit companies available today. PricewaterhouseCoopers is one of the Big Four audit companies (Delloite, PwC, Ernst & Young and KPMG), to be more speficic, it is second biggest auditing company in world. This way we can guarantee that results have been propertly checked and are 100% authentic.