The way I look at it is that as with anything in life, only the top few percent are successful, the majority are un-successful. I did have a conversation with a person involved with a forex broking firm some time ago and he gave ratios like this; 1% make seriously good money trading, 2-3% make ok money, 20% break even and the rest end up blowing their account. It is the harsh reality.
In the meantime system brokers out there have the standard website showing a luxury house with exotic cars in the driveway - every now and then you see a hot girlfriend/wife. It is all crap and have tried a few of these in the past with no luck. Now we get these aweful binary options systems promoted everywhere you go! aarrggh
Why people go to the lengths to scam in here is beyond me - we are all on a journey to trade for a living and should not be trying to fleece other traders. I agree with @Inari - if it looks too good to be true, then it probably is.
Never do individually managed accounts , There are too many excuses for the manager to tell you why your performance is different than their main account. Many excuses can be valid too such as copier latency, different pricing and markups compared to the manager main account and of course broker execution if the broker is different .
The best way to truly be a part of someones trading is via MAM that is published.
In our MAM all the all sub accounts share the same fill prices and commissions because they become part of the balance as they join. Published below :
The strategy is traded on multiple real accounts via SignalStart and also for managed account clients. The Signal Master account is an IC Market demo account for faster (instant) execution, so trade signals can be broadcasted to client accounts practically real-time to reduce slippage.
The “MAM-PAMM System” works with all brokers and account types the same way, no matter if ECN/STP or Market Makers. Our 'MAM-PAMM System' is not Martingale, Arbitrage or short-term Scalping which are forbidden by brokers. The initial deposit with our system is $2,500 to $5,000 depending on the broker.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.