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CITADEL FOREX FUND MANAGEMENT is a company that operates from the domain citadelfxfund.com with the aim of providing ‘reliable asset growth” service to investors.
We’re not sure how this PAMM manager would measure up to the standards of these recommended investing products and services. So to be on the safer side, explore those recommended products.
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Citadelfxfund’s marketing materials claim that the company can provide investors with financial freedom in addition to offering car financing, home ownership financing, retirement planning and many other services that are typically not in the domain of Forex account managers.
Citadelfxfund’s recommended minimum deposit is between $100 and $1,000.
They’re trading with PureMarketbroker.com and intending to charge 40% monthly performance fee from investor profits.
They also claim that drawdown is restricted to 30% because their strategy is FIFO compliant and doesn’t rely on Martingale, grid, averaging, pyramiding scalping, hedging or arbitrating styles of trading.
Can we trust Citadelfxfund to manage our funds in a reliable way?
Our review will ultimately provide you with advice on whether or not this PAMM account service is worth it.
Citadelfxfund review
Citadelfxfund is basically offering a Forex portfolio fund where targeted monthly return is between 5% to 20%.
This is a fairly achievable target but at the same time, we want to see whether the company can provide some sort of proof for the alleged returns.
The company has been around since October 2017, so we’re expecting them to provide a strong track record covering their trades for the last 3 years.
With regards to their identities, Citadelfxfund does not provide any names of traders who handle their PAMM account service.
They rely on a vague explanation where their marketing materials claim that they are a team of seasoned traders and Forex market analysts with years of experience.
This does not set them apart from competitors like Allied Asset Funds and the rest.
For them to actually provide a service that people want to invest in, they should provide proper names or real identities rather than relying on generic statements to introduce themselves.
Citadelfxfund trading strategy
The vendor discloses that their strategy is made up of a combination of manual, intraday, fundamental and price action trading.
They want us to know that the strategy is discretionary, adaptive to market changes and can be applied on large volume accounts.
Citadelfxfund also claims that their strategy focuses on capital preservation while cutting losses early.
Last but not least, the fund manager claims that all their trades are executed and managed by humans instead of robots.
They feel that robots have limitations. However, in our opinion, technological advancements have made Forex EAs efficient to changing market conditions, hence the reason we have AI robots that even the best fund managers in the world rely on.
So the assertion that Forex EAs have limitations is no longer valid in this era of trading.
Trading Performance
Citadelfxfund has a myfxbook account where they show their performance to investors who want a sneak peak of the same.
It’s important to note that these folks are not putting their money where their mouth is since they’re using a demo account.
A serious fund manager must demonstrate confidence in their strategy by actually investing their own funds in a live account.
When we find an asset manager using a demo, we feel discouraged.
Secondly, this myfxbook account shows trading performance since the month of October 2020.
Remember that Citadelfxfund proclaimed working with seasoned traders with sufficient experience in the Forex market.
So why are they not showing us a track record that is consistent with this statement?
This is food for thought.
Conclusion
We feel that Citadelfxfund is not a reliable fund manager or PAMM account provider.
Their service does not appear to be profitable which is why they’re relying on a demo myfxbook account.
With that in mind, we can’t figure out any reason as to why we should recommend Citadel FX Fund to investors.
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