In Focus: Forex United

by Tony Clifton   [Your Program Focused]

Maybe a bit overlooked, this new program seems to offer a good profit potential. Forex United has been created in February and since then offers high yield returns on your investments.

The program offers investing in "Managed accounts" with e-gold and minimum $10. This of course surprised me a lot so I contacted them to find out that it's a pool for managed account (or at least they claim to be so):

We do not open an managed account for each customer. The funds from customers are pooled together in two different funds managed from us. This concept is also named as managed forex because this definition is right when the trading is not made directly by the investor. In this case we call it as Self-Trading. In the Self-Trading accounts we get the funds from the trader and deposit directly into our brokerage accounts, generating automatically the balance for his account in the system, that will be used by him to trade through our platform.

The returns are too high - 8% to 12% Weekly variable, which does not seem too realistic. I asked the representative Mike from their Customer Support:

It depends on the leverage you are working with. Remember that leverage is a double-edged sword that can cut both ways -- it can improve your return on invested capital, but it can also magnify your losses if the market moves against you. If you trust in your sentiment it;s perfectly possible to achieve even higher returns.

Well, well. I have heard that before and will keep my comments for myself. Have in mind that even if it can be really done, it ivolves a very big risk. But considering we have no proofs of real trading we can stop bothering on that and concentrate on the money making potential.

The program's website is rather impressive - not beautiful or fancy, but contains a lot of well structured information about the forex trading, forex history and advantages. The site is placed on a shared hosting and the who-is shows an address in New Jersey, USA

They also offer self-trading accounts, but I don't see a link to download the software, neither information where do you open the account. Looks like you first have to deposit 10k of e-gold and I don't find this idea good at all.

The program looks like a medium-term HYIP whose profits are well rewarding the risk involved. How long it is going to leave depends a lot on the HYIP community members and their opinion about it. I would classify it like DFII (see "Approved HYIPs" section) but a bit more risky for the same ROI. I am putting a "play" spend only.

Published at Apr, 22 '06 ; read 3368 times;

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User comments:

clifton at May, 01 '06 12:25
Just received information that a new 24/7 support line is added in Forex United.
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Dougi at May, 01 '06 20:49
Hi Tony, I agree with your review. Just wanted to point to the software. You can find it when you click the link "Self-trading Account". It is not active for me though but then I didn't open a self-trading account. You find all, software and form to open an account on that same page. What I don't like is that you have to deposit first and as I saw it is not 10k but 100k minimum. I'm fine with the managed account ;) cheers Dougi
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clifton at May, 02 '06 03:36
Thanks for the info, Dougi :)
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