247fxtrades.com Review: Legit or Scam? - Topedgefx.com

247fxtrades.com Review: Legit or Scam?

247fxtrades.com is a service that provides managed trading accounts under the title of Hedge Fund Investment Service (HFIS).

The service was created in January 2019 by Aleksandrov Dimkovic and is somehow trying to copy the style of our most recommended managed account provider.

Aleksandrov Dimkovic proclaims to be a successful Forex and hedge fund trader with 12 years of experience.

He wants to manage investor assets efficiently and professionally in order to increase value and profit.

In addition to this, 247fxtrades.com is providing a trading indicator known as TLS Kit. It is alleged that this trading indicator has an accuracy of 90%-100%.

This statement is obviously too good to be true. So we’ll definitely be looking to see whether there’s proof of trading performance to that effect.

247fxtrades review

Besides the indicator, 247fxtrades is managing their clients’ accounts using what Mr. Aleksandrov calls “ASH strategy”.

247 FX Trades marketing materials even proclaim that their “trading kit” makes weekly returns of between $3,000 to $5,000.

It appears that the more we spend time on the vendor’s website, the more we find ourselves asking questions and even doubting them.

For example, in one section of the 247fxtrades.com website, they made a bold statement where it was suggested that this company makes 500% to 2,000% between 4 and 32 weeks.

How is this even possible? Read on to find out.

247fxtrades.com review

The service is claiming to be compatible with 88 Forex and over 40 binary options brokers.

I assume that 247 FX Trades will let us open an account with any of their supported brokers so we can get started as soon as we sign an LPOA.

Unfortunately, it’s not as straight forward as you might think. Investors need to apply by sending a short email with their contact details.

There’s no disclosure of minimum deposit requirement. The only thing they tell us is that their trading service is profitable.

247fxtrades ASH Strategy

Mr. Aleksandrov considers the Ash strategy as a “unique concept” which is different from what the community has ever known before.

Aleksandrov even claims this strategy is used by the “Big Money” because he considers “behind the scenes principles” when trading client accounts.

The ASH strategy investigates and characterizes strong trend formations and reversals over the last 8 years.

It then identifies prevailing market conditions in the trends or reversals before grouping patterns and similarities.

They will implement this knowledge on future trades and even cross-check historic repetition for accuracy.

With this explanation, we find some useful insights but the effectiveness of the strategy can only be verified using trading performance.

Besides, the strategy does not sound unique. Traders have used this kind of strategies before.

247fxtrades Trading Performance

247fxtrades claims that they generate an average of 20% in monthly returns.

While they claim their trading results are verified, we can only see a bar chart showing returns from 2017 up to November 2019.

The vendor has not updated their “trading results” for 2020 and the worst part is that they’re using a bar chart instead of a statement sharing platform like myfxbook.com.

This means we cannot verify the trades of 247fxtrades.com. We could be staring at results that were fraudulently generated.

If this vendor claims to have traded Forex for 12 years, they should not have any problem creating a myfxbook account and documenting their results from there.

Conclusion

Despite 247fxtrades claiming that Aleksandrov Dimkovic is an accomplished trader, we can’t find evidence to support this.

If Aleksandrov Dimkovic wants to be taken seriously, they should consider adding a myfxbook account right away.

They cannot just bank on “awards” and promises since these things can be falsified and made to appear as if the service is making profits for investors.

By the way, those “awards” were copied from the World Markets website.

It bothers me to think that this vendor is stooping so low just to get clients while ignoring their professional reputation.

Even if I wanted to recommend this service, I would think twice because everything is wrong about it.

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