Managed Forex With Us (MFWU) claims to offer expert services that help traders make profits easily in Forex. The expertise of the company includes signal services, EA development, and more but its main focus is on managed FX accounts. Although the services are diverse and vendor transparency is present, the performance is not as good as claimed by the company. The initial assessment of this service reveals it is not a reliable investment option for traders.
What is MFWU?
The company claims it provides a unique management technique which it terms as manually managed robotic trading. An important benefit of this manual and robotic combo system is that the risk is diversified. According to the vendor, this type of diversification is possible due to the adaptation made by the expert traders in line with the market changes.
With the managed account service, the company claims to have built an impeccable fund management method but does not go into details on how it manages the accounts. Other services include the development of expert advisors, trade copying, and FX signal generation. An affiliate program and FX broker services are also part of the company’s offerings.
Official MFWU Website
The website of this service is well-designed with most of the info about the service covered on the home page. There are separate sections for the services, contact, and FAQ features. As per the info on the About Us section, Norbert Zoltan Nagy is the founder and lead programmer for the company. Other team members include Tibor Kun-Szabo, Bilinovics, Korozsi, and D’Rocha. We can find images of the members along with their email address for contact. While the company does not reveal location address or phone number, there is an online contact form for support provided.
How Can We Use MFWU?
As per the developer team, a collaboration of the programmers with the manual trades helps the service to provide diversified risk and successful trading conditions. While the programmers help convert the manual trading methods to automated systems, the manual traders help to execute the modifications needed in the EA. This reduces the chances of the EA failing under changing market conditions.
Pricing & Refund
The pricing differs based on the service you opt for. For the trade copying and signal generation, a subscription fee is charged. You will have to pay $50 per month for subscribing to these services. However, the charges for the managed account are not present and the vendor claims the charges are negotiable. There is no mention of a money-back guarantee which makes us suspect the reliability of the service. When we compare the price with that of the competitor services, the price quoted looks reasonable.
While there is mention of trading strategies created by expert traders, the company does not divulge the approach it uses. The lack of explanation of the strategy raises our suspicion regarding the reliability of this service. No backtests are present which further confirms our doubts about the trustworthiness.
Performance stats of the accounts of the different team members displayed on the Forexpeacearmy site are shown below. Here is a screenshot of the statement of one of the members.
From the above image, we can see a total net profit of 26,787.57 for a deposit of 10,258. The profit factor is 1.87 and the maximal drawdown is 9.46%. A profitability of 78.81% is present for this account which has a total of 8411 trades executed since it started trading in July 2020. We prefer trading results verified by sites like myfxbook, FXBlue, and FXStat as they reveal more in-depth info on the trading stats.
What Customers Say about MFWU?
We found two reviews for this company on the Forex Peace Army site. Here are the screenshots of the user testimonials:
From the feedback, we can see that the users find the performance and support are satisfactory. However, the performance tests show that most of the accounts are running at a loss. This indicates the approach used is not effective.
Summary: Is MFWU a Trustworthy Managed Account Service?MFWU
Trading Results2/5 Bad
- Manual and automated management of accounts
- The strategy used is not disclosed
- Performance is not good