Promoted as an automated trading system that is manually managed, MFWU offers various services including signal generation, copy trading, and managed FX accounts. With constantly optimizing their strategy parameters, this company is made of a team of traders and programmers aimed at ensuring clients get maximum returns. The company claims to provide high profits with its managed account as the risk/reward is dispersed among all the participants.
Is Investing in MFWU a Good Decision?
For our evaluation of this managed account and allied Forex trading services provider, we have taken into account the features, performance, strategy, and user reviews. Our initial impression of this company is that the key features like performance and trading approach they use do not meet our evaluation criteria.
Since a proven track record and the right management of trades are essential for a successful system, the failure of this service on these crucial aspects has made us suspect that it is not a good decision to invest in it. On delving further into the various features of the company here is what our analysis has revealed:
Company Profile
Founded by Norbert Zoltan Nagy, a robot programmer, MFWU is supported by a team of traders and programmers experienced in their respective field. The official site reveals the name of the team members with images and email addresses for contact.
But other than the email, the company does not provide any other vendor info like location address and phone number. Customer support options are limited to an online contact form with no live chat or other instantly responsive options. We find this lack of transparency and the absence of proper customer support features highly suspicious.
Main Features
Managed accounts form the main service of this company with expert advisor development being offered by the team members. Signal generation and trade copying services are other features provided by the company. The signals are delivered directly to the mobile devices of subscribers.
Copy trading is another service that also includes settings like lot size, slippage, and more besides copying of trades. FX brokers services and an affiliate program are other features that this company offers to clients. The affiliate program has a potential of 50% of the revenue gained by referring 5 clients.
As per the vendor, the managed account concentrates on dealing with the emotional influence on trading decisions and the constant optimizations needed to ensure the automated trading systems remain in alignment with the market situation. The programmers at MFWU team up with manual traders to combine the trading approaches and robotic settings to ensure the automated trading they devise does not fail.
Price
Subscription-based pricing is offered by this vendor. For copy trading and signal generation, the company charges $50 per month. For the managed account the charges are not specified and as per the info on the site, the fee is negotiable. Compared to the prevailing subscription-based services similar to this company, the charges here look affordable.
Trading Results
Results of trading by the main team members posted on the Forexpeacearmy site are shown on the official site. Here is a screenshot of the results by Norbert.
From the above trading results, we can see a gross profit of 54,094 being shown for a deposit of 10,240 with a profit factor of 1.9 and a maximum drawdown of 9.46%. We prefer trading results verified by sites like myfxbook, FXBlue, and FXStat as the results reveal many more details on the performance. We could find about the lot sizes used, the absolute and total gain values, the risk to reward ratio, and more. The absence of such verified proof of performance raises our suspicion regarding the trustworthiness of the company. Moreover, the absence of backtesting results makes it difficult to know about the strategy used and its efficacy. We are unable to compare the backtesting results with the real account results.
Customer Reviews
We found customer reviews for MFWU on the Forexpeacearmy site. While the feedback provided is positive there are only two reviews. Here is a screenshot of the customer response.
Despite the positive feedback, the reviews are too small in number to evaluate the performance and support on their basis.
Summing Up
As a managed account service, MFWU fails to impress us with its diverse features and trading performance. While the various services offered here look diversified, the efficacy of each of them is doubtful. We suspect they are not effective as the vendor does not provide proper proof such as a detailed explanation of the approach used or backtests to support their claim. While there are trading results posted, they are not verified by sites like myfxbook, FXBlue, and FXstat, which provide a better insight into the results. With a lack of proven track record and absence of strategy explanation, we find this is an unreliable company for traders looking to invest in managed FX account services.
