I just haven't gotten around to doing that yet, however I will go through the steps over the next few days to verify the account details, so please check back within a week or so as I've got a lot on. Just FYI, I'm not trying to convince anyone to do anything and have no other affiliations with the broker or primefundfx other than I took the plunge to try out their system. The only reason I posted this was to share my experience with dealing with BDFX and PrimeFundFx.
Ihave joined their PaMM program too. If you could confirm a trade yesterday 30/8 open at 15:05 closed at 17:30 @ EURUSD? I was watching my account yesterday closely but haven't noticed that position when opened, since the market closed (and was not a quick open-close). the reason I'm asking is because this Lot size was considerable higher to other trades so far (2-week since joined). It was a winner, although I never noticed while was open, what do you say about? thanx
Just cruising around and happened across this system. It looks like it did really well in the beginning, and then I looked at the trade history. Right during the massive upward equity spike, I see that excessively heavy leverage was used. Any ideas as to why?
Absolutely none, an email was sent around by the fund manager explaining that this is perfectly normal but as they don't actually display exactly how they got out of draw downs like this in the past so I'm not sure what the plan is.
This is the link to the fund managers myfxbook link. There are a few months in there where it had negative returns followed by going back to 20%-40% returns. According to the broker the results are legit so I'm just going to wait and see.
Anyone involved in this concerned yet? I keep getting emails telling me the drawdown is perfectly normal and that trades are being hedged, but all I see is losing positions added to losing positions and the drawdown percentage going up at an alarming rate.
Hi Jezza, I don't know about you my my account shat itself today and ended up taking huge trades and went into negative equity... I contacted BDFX who told me that it was an error with the PAMM and they ended up removing me from Primefundfx and restored my balance back to it's original deposit. I asked that they don't reconnect me to Primefundfx so sorry everyone who is tracking the account.
I honestly have no idea what to think. 99% of me is thinking, it has to be a scam, however BDFX has remained in contact with me appears to have fixed everything? The only reason why I haven't tried to pull the money out already is that I funded the account in AUD so If i move it back from USD now I'll lose $500 on the exchange. I'll be sleeping on it, but I'll keep you all posted if i have any issues with the withdrawal.
Interesting that BDFX restored the balance. All they did with me was to inform me overnight that my equity was down by over 50% and did they want me to revoke the LPOA, to which I said yes. I have now lost well over 50% of my original 15K USD.
Like you, I looked at the trades that were taken around midnight and there were a few at 2.84 lot sizes duplicated on the same currency pair, one at 3.97 and one at 5.01. All resulting in about an 8K loss in a couple of hours.
Hi Jezza, I don't think the trades actually show in myfxbook but my account was taking trades with lot sizes of 3 and 4 lots. I didn't just lose 50%, at one point I would have owed them money which isn't supposed to happen. I believe this is where the error was, that my account was taking similar size trades to yours with 1/5 of the balance. When they realised what was happening they just disconnected my account and liquidated everything at the point before the account started going crazy so I lost all the gains and about $400 which is where my account was this time yesterday. If my account had been calculating the lot sizes correctly then I would be in the same boat as you with only half an account.
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