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Further to my conversation with Smart Investor (ical) who uses this broker at http://bit.ly/cAW7m8 I'll comment further on the broker here at so as not to distract users on his system page.
I note that "Client funds do not go on deposit with Kingdom Forex directly" which is positive.
But the fact seems to remain that they still need to be registered with the UK FSA if they wish to attract UK clients as clearly they do. There is a common list of excluded countries and the UK is not amongst that list at http://bit.ly/a3xn8B. The directors of Kingdom Forex may be guilty of a criminal ......
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Thanks for the quick reply SI. I'll comment further in a moment on the broker at http://bit.ly/cdSmJO so as not to distract users on your system discussion.
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The link expires so if you wish to search their lack of UK FSA authorisation simply search their post code of W1D 2EU at http://bit.ly/c7iwtM
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The link expires so if you wish to search their lack of UK FSA authorisation simply search their post code of W1D 2EU at http://bit.ly/c7iwtM
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I just commented on the Mini Hedge Fund Discussion at http://bit.ly/cAW7m8. FYI I reproduce the post below.
"I see that your broker operates from the UK and US. Are you aware that their UK address is a maildrop? Nothing wrong with that of itself but what is cause for concern is that there are only two registered FSA firms at that address as you can see at http://bit.ly/c7iwtM and neither are Kingdom Forex.
When you combine both elements my conclusion is I would not place funds there and I would be interested in knowing your reasons for choosing this broker.
Of note also on their very a......
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I see that your broker operates from the UK and US. Are you aware that their UK address is a maildrop? Nothing wrong with that of itself but what is cause for concern is that there are only two registered FSA firms at that address as you can see at http://bit.ly/c7iwtM and neither are Kingdom Forex.
When you combine both elements my conclusion is I would not place funds there and I would be interested in knowing your reasons for choosing this broker.
Of note also on their very attractive website is they do also appear to be a little confused at to where they have offices. On the FAQ they sta......
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[quote]WhyLose posted:
I'll vouch for Ben and Steve above if I can. I guess the option will be available when I get to the magical 3. If I ever do.[eek]
[/quote]
I just noticed 5 like and 3 dislike this suggestion. I haven't voted as I'm currently in the neutral camp. It does appear magically when you're at 3 vouches. Vouches for Steve and Ben done. Thanks for your kind words Steve.
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Just noticed your question Rob. I agree.
On a personal note I wanted to get familiar with MFB before publishing real accounts. Simply, I'm no techie but I like to get things working myself and understand the mechanism and processes needed to accomplish what looks on the surface to be a simple exercise. I'm now happy with the way this is developing.
All I can say right now is watch this space.
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Trades are not managed by a hard stop loss. This EA has performed well in the past and it may yet come through without a significant drawdown. Time will tell. Either way it will exit all trades to protect 130% of the initial equity if it needed to today. That % is time and profit dependent which changes as the balance increases. If the balance returns to $3900 then so be it. It will then start over from a fresh base.
The monthly return of 77.58% at the time of writing is, quite frankly, unsustainable. It's ridiculous and has not been achieved with this EA before. Anything above 10% is a huge ......
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[quote]stephanusR posted:
[quote]WhyLose posted:
Sir, you're entitled to your opinion. And I do not have the inclination to comment further other than to say you are incorrect on most points.
[/quote]
Devise some interface for institutional investors to upload their statements to myfxbook. It levels the playing field in a sense.
[/quote]Ahh, a good idea. So at least we agree on something. [surprise]
As I'm writing this I might as well comment further on just one of your general misconceptions, rather than the personal assumption aimed at myself which you mentioned above that &qu......
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