Our Control Forex review will discuss all the aspects of the service and let you know whether you really need one of their Forex trading systems.
The company is offering PAMM accounts, EAs and other forms of trading systems which they believe can compete with some of the fairest trading and investing systems on the internet.
And of course you can only find the desired results if you work with these recommended Forex brokers as their spreads are fair and they don’t engage in silly games with your money.
ControlFX currently has dozens of trading systems which are also registered on the company’s myfxbook account for our verification.
The vendor claims that they’re engaging in fund management for companies, hedge funds and individual investors.
They state on their website that “they’re the people who get hired by companies and various funds to oversee the technical part of trading.”
Indeed this is quite a bold statement and if there’s no proof, we’ll simply dismiss it as a mere promotion statement.
By telling us that they engage in various fund management activities, ControlFX intends to convince investors to trust them even if they’ve not done any due diligence.
Furthermore, their website states that they’ve earned 14,036% across all their system.
In as much as this vendor has signed up all their trading systems to their myfxbook account, it is difficult to actually establish the total returns that all the trading systems, combined, have achieved.
We don’t know about Control Forex Founders or team members yet since the website only states that they’re a “team of professionals who have been working in Forex since 2008.“
On another part of their website, they claim that ControlFX is working with a team of traders and coders with 10 years of experience.
No names or addresses have been mentioned to enable us run quick background checks on these guys.
The question is whether ControlFX products and services will live up to expectation.
Control Forex Review
The vendor’s website tells us that they have over 15 different verified live accounts that are managed by ControlFX’s trading systems.
They claim that their systems are super reliable and profitable.
The company’s website also makes it clear that they use 3 different trading styles to deliver results.
They’ve been categorized as Conservative, Medium and Aggressive.
The vendor also wants us to know that their trading systems are designed with investor’s preference in mind.
They have settings based on investor’s trading style, risk profile and capital.
The rest of the website is talking about why investors and traders should try the services of Control Forex and of course they also provide links to their myfxbook account where we can see the performance for each of their trading systems.
The developer’s website lacks a proper elaboration of what trading strategy their ControlFX system is using.
They only have a general description which says ControlFX is a complex, highly intelligent system that uses the power of 3 servers for accuracy and reliability.
It constantly monitors 25 currency pairs while analyzing them using various strategies and algorithms built into the system.
Once it finds the most profitable and reliable strategy, the system will execute a trade.
For traders like us, it can be difficult to go along with such a general statement.
Professional traders need to hear that a system is using the trend or some combination of technical and fundamental analysis here and there.
We need to understand how Control Forex is managing risk as opposed to being told that it uses 3 servers and a highly intelligent system to place trades.
We hope this developer will find a suitable statement to express their strategy to potential buyers.
ControlFX product analysis
- Type: EAs and Managed Forex accounts
- Price: Undisclosed
- Expected monthly return: 2%-200%
- Strategy: Not disclosed
- Pairs: 25 Currency pairs
We’re not sure why Control Forex is not disclosing costs or fees that are associated with their service.
Even their FAQ page does not answer these critical questions.
Looks like the person who was doing this page was in a rush.
Whatever the case, they should consider including all the pertinent information about their products.
Control Forex myfxbook performance
They have various Forex robots and trading systems whose performance has been posted on myfxbook.
We looked at most of the systems and found that the vendor was trading a live account.
The only setback here is that all of the myfxbook accounts are not fully verified, and we therefore can’t be sure whether the results are legitimate.
So in as much as the numbers are impressive, this developer fails the test by presenting us with a myfxbook account where track record is not verified.
You can even see this warning on their account. It’s marked with a red X.
At first, we thought Control Forex was going to do everything perfectly, going by their website’s design and presentation.
We were eager to look at their results to see whether we could make a purchase decision.
However, we’re disappointed because we can’t authenticate the figures which we see there.
Of course this vendor should also work on their introduction if they want to be taken seriously.
Due to these shortcomings, we won’t recommend ControlFX products now but will follow closely to see whether the developer will take the message seriously.