Satelysfx Review: Are Satelysfx Managed Accounts a Scam?
Welcome to the Satelysfx review. Satelysfx is offering managed trading accounts to Forex investors.
The vendor’s website claims that Satelysfx limited team of traders started out in France before moving out to London.
Our special website snooping tools have revealed that Satelysfx.com is still being hosted in France, although the team seem to have moved to London as claimed.
Satelys FX Limited is owned and operated by Mathieu Burbau.
Mathieu Burbau is allegedly a fundamental analysis expert and a contributor at a French-based financial analysis website called Zonebourse.
By no means does this serve as proof that generating income from Satelysfx managed accounts will be guaranteed.
Minimum investment is £50,000 but the company is claiming that it intends to raise this figure to £100,000 by June this year.
These claims are definitely not believable as it’s obviously clear that the vendor is trying to push investors into making hasty decisions.
Satelys FX also claims that their company was founded back in 2006. However, records of this company are dating back to 2009 (according to WayBack machine).
We’re not exactly sure how Mathieu Burbau and his team used to offer their services without a website.
Worst still, it could also mean that the website and company was actually formed in 2009 or thereafter.
At this point in time, we know the owner and have some background information about their service.
We’ve also reviewed their trading statements and discovered that Satelys is supposedly generating 5% monthly returns.
The biggest task is to prove that these results are legitimate and sustainable.
So before you invest in this managed account service, we ask you to read this SatelysFX review thoroughly.
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SatelysFX review
The company claims that the success of their asset management service is due to the team’s knowledge, strictness and experience which allows them to come up with “sophisticated trading strategies.”
The company’s website claims that SatelysFX is trading using fundamental analysis, behavioral analysis and technical analysis.
They also claim that their financial experts’ knowledge has been noticed by the French financial website, zonebourse.com.
At this juncture, we have no idea what form of relationship the two websites have. We’re speculating that the company is either using this opportunity to guest-blog and attract traffic or are simply affiliated with some of the people who run zonebourse.com.
These are just speculations. We’re in no way insinuating that these assumptions are the absolute truth.
Moving forward, we see that the website operators have also spent time to highlight the background of SatelysFX company.
They’re providing detailed reports of how they started, the amounts of money that was raised and so on.
We certainly appreciate this information as most asset managers don’t provide this kind of information.
SatelysFX believes that they are successful because of the following benefits:
- Programming: their coders are allegedly able to create and back test any trading strategy
- Execution: their broker offers technical analysis and full transparency
- Experience: Years of experience allows them to excel in Forex exchange trading
- Location: They believe that London is the hub of wealth management (we don’t see any relationship with the quality of service they offer)
SatelysFX also wants investors to know that they’re after building long term relationships with their clients.
They adapt to modern trading technologies which has enabled them to develop and grow their business over time.
All of this can be considered promotion content in nature.
A financially-sophisticated investor will want to know whether Satelys FX Limited can demonstrate trading performance.
They’d seek to know how risk is managed and so on.
It’s not enough for an asset manager to claim that they’re providing market forecast and advisory services including trading and hedging.
There needs to be more that just that in order to traders to be inspired to the point of believing that their £50,000 won’t go down the drain.
Trading performance of SatelysFX Limited
They’ve provided us with their FXblue account for analysis.
Monthly returns is depicted as +5.2% and draw down is just 4%. The team has been opening 3 trades on a daily basis.
They appear to be holding trades for much longer, typically up to 4 days. This means they’re swing traders.
This trading sample is between July 2019 up to now. The equity curve has been rising sharply over the months.
With such low draw down, it means the risk that the asset manager is taking is very minimal.
SatelysFX is supposedly managing thousands of dollars. Their equity is currently sitting at 480,124.35 (we assume this is in euros or dollars).
With a website that does not receive any significant traffic, it’s hard to believe the figures we see here.
If they had 1000 or more visitors per day, this would justify the size of their equity.
So far, we see that these results are impressive.
The asset manager is offering an undisclosed trading strategy but we see that they’re properly managing risks.
Now, we have a concern to talk about in this SatelysFX review.
We are somehow not accustomed to FXblue statement sharing platform. We prefer myfxbook.com to fxblue platform because the former is more detailed and transparent than the latter.
For example, myfxbook.com is able to tell us whether a trader is using a cent account or a standard MT4 account.
We’re also able to know whether a trader verified their account fully such that cheating would be impossible.
However, with FXblue, these details are not provided. The only thing the observer can see are the figures and the assurance that the account is real.
We can’t just assume that since the account is real, the vendor must be doing something good for their customers.
What if it’s a cent account and the asset manager is not putting his money where his mouth is?
Conclusion
We’re currently seated on the fence since we don’t know where or not to overlook these shortcomings.
SatelysFX appears to be a professional fund manager but since they’re asking for a very large minimum deposit, we can purpose not to give them the benefit of doubt upfront.
Maybe access to their master account using investor login credentials would suffice. We’re waiting to see whether investor feedback will surface over the next couple of months.
Since this is the first ever review that we did regarding SatelysFX (no other website has posted a review yet), we believe that all of us can make this an excellent platform for airing our opinions.
Thanks for reading our Satelys FX review.
∗Spam comments from fake fund recovery agents/bots will be automatically filtered.
Mathieu Burbau
Hello,
Thank you for your exhaustive review. We appreciate that you try to help investors to avoid online scams and this is really something we have in common (see our website > Brokers tab).
That said, you should not have hesitated to solicit us about your questions because your article unfortunately contains too many speculations and some wrong information.
Because of that, 2.7/5 is not a fair evaluation of our services quality and of our involvement for so many years.
Please find a few kind comments below:
1- Satelys is not an asset management company. Satelys is an advisor for asset managers. In short, our strategies manage individual/corporate accounts and a FX certificate (ISIN DE000A22J580) on behalf of asset management companies and under the control of their risk managers. We never hold any money.
2- Satelys is not a website and traffic is not something we focus on. We don’t recommend to anyone to invest money on a “website”. We have an office in London to meet investors and partners and you are more than welcome to visit us and check hard copies of all our account statements. Our website has been made to give more information to prospective customers and partners who previously met us, to share our performance on the market and also to open an account more easily through a few online steps.
3- We don’t invest any cent in online referencing/marketing and we don’t generate any revenue from our website. This is not our business model. Zonebourse has been a partner for more than 10 years and the link to their website is just a link to my own articles there.
4- Our website is still hosted in France because we kept the same provider after moving to London but this shouldn’t be seen as suspicious.
5- We don’t believe that London is the hub of wealth management. We explain that London is the first place in the world for FX businesses and we moved from Lyon in 2014 to be able to meet more qualified investors and partners on a daily basis. This choice has been a success.
6- The approx 500k EUR account shared on FXBlue is a sample of what we do. Our strategies manage EUR, USD and GBP accounts and a EUR FX certificate with true brokers in UK, EU, Singapore and Dubai for a total AUM of several millions.
7- We never try to push people to invest and we always make the compliant checks to make sure what we offer matches the investor’s profile. Our website and brochures are full of risk warnings everywhere. We don’t guarantee to be profitable in future and we keep saying that the risk of loss is permanent in margin trading. By definition, the return is the counterparty of such a risk. The minimum deposit was 10k before but we increased it to 50k in 2019 and it will increase again to 100k in 2020 to target bigger players. This is a normal progress and a simple information we give in advance because we eventually aim to work with a limited number of qualified investors.
8- Our brokers don’t offer technical analysis but a technical expertise (technology).
9- Your trust in myfxbook shouldn’t be greater than in FXBlue. Myfxbook, like FXBlue, is generally MT4-based and this is very easy to manipulate data if your IT skills are decent. A demo account can be shown as live, deposits and withdrawals can be customized and historical trades can be amended. I’ve already seen fully verified myfxbook accounts which were totally falsified and personally, I still have a preference for FXBlue which looks better and gives actually more information (a ton of scrolling options and charts, Stats and Risk tabs and subtabs, etc) but anyway before trusting anything you see on that kind of trackers, you should first trust the company behind the trading results, for example by meeting or at least talking to managers. Obviously, our data on FXBlue is genuine but we don’t ask anyone to believe us. For more evidence of our performance, we invite you to track our ISIN code DE000A22J580 on a Bloomberg terminal because this FX certificate, a new vehicle launched in January this year, is fully audited (same strategy, lower leverage).
Hope it can help to give a more accurate perspective of a company I founded in 2006 and which has been all my life for almost 15 years now.
Mathieu Burbau
Raphaël F.
Hello,
first of all well done for your site which helps people not to fall into scams that we see a lot on the internet.
I want to give you my personal experience with Satelysfx in all transparency, I started with satelysfx in November 2019, to date I have an average performance of 3% per month.
Mr Burbau is always available to quickly answer the questions I have.
During the March bear market, I know many people who had their account lost with robots and martingale systems, Satelysfx has perfectly managed this delicate moment by taking less position and by protecting the accounts of their customers.
To date I am fully satisfied with satelysfx which I recommend without hesitation.