Forex92.com is run by financial douchebags. It’s an obnoxious Forex investment scheme that operates under the guise of a genuine managed Forex account provider when it’s clearly a financial scam. This Forex92 review is all you will ever need to save yourself from the potential heartache.
We have done a couple of similar reviews before. These include Mia491 (a scam and pyramid scheme), ablytrade (100% scam), Walker Capital (an Australian managed Forex account provider with not so clean record) and many more.
We start this Forex92 review by questioning the authenticity of the earning claims on their website.
They claim to have generated cumulative returns of $4,582,147, which stands for a ROI of 11,325.21% or 22,997 pips so far.
Average monthly returns is allegedly between 20% to 30%. We need to verify this as well. Is there any link to a myfxbook.com account? Yes of course! There are two. Good, we can verify this information to ensure that we’re not putting our money into the hands of a bozo.
The owner of Forex92 uses an alias Usman Ahmed. If you do your homework well, you’ll see that the real owner of Forex92 doesn’t wish to expose their name to members of the public.
Common sense would question why on the planet someone is trusting an anonymous person to manage his $5,000. We definitely have a lot of interesting things to say about this managed Forex provider and unless they convince us otherwise, this Forex92 review will remain as is…… to inform, educate and let investors from across the world know that this is a no-go zone.
This managed Forex account provider has not received any meaningful public feedback from investors of MAM accounts.
I was able to find a Forex92 review from a blog called campforex and the author’s sentiments here seemed to reflect my own. When I did a little bit of digging on Google, I saw two other websites were Forex92.com was being recommended.
There can never be any conflict of interest in the case of these two websites; signals365.com (belongs to Forex 92) and investoo.com because they’re obviously getting kickbacks from the dubious managed Forex account provider.
If I am an dishonest internet marketer and would like to make a quick buck from something that is as awful as Forex92, I would simply do the same. I would pay bloggers or look for guest blogging opportunities in popular Forex review sites and post deceptive reviews about the service. When the financially-naive bump into such reviews, they quickly pull out a $5,000 dollar bill, ready to invest in Forex92 managed accounts. Of course the end would be a fatal financial mistake.
Fortunately we have a conscience. We don’t endorse anything even if we are offered a million dollar kickback. Your financial-well being is much more important than the kickbacks.
So, what exactly does Forex92 offer and what do they tell people who have not read a review like this one for example?
Forex92 review: 3 types of managed Forex accounts
They offer 3 investment packages. These are:
1.Personal account…………………………….$5,000 minimum deposit
2.Business account……………………………$10,000 minimum deposit
3.Enterprise account………………………..$50,000 minimum deposit
They’re advertising a minimum monthly return of 20% and a maximum of 30% depending on which managed Forex account package you have signed up for.
To open a managed Forex account, they want investors to send an email to email@example.com or chat with them directly.
These MAM Forex accounts are with PaxForex.com, SCM Forex and FXTM. PaxForex.com is a little bit dubious in their marketing as Forex Peace Army recently accused them of submitting many fake positive reviews.
SCM Forex is operated by Scandinavian Capital Markets SCM AB and overseen by Swedish Financial Supervisory Authority. There are zero customer reviews or feedback about this broker except a personal opinion on Forexbrokerz.com website.
We’re left with FXTM or Forex Time broker. This broker appears relatively safe to trade with except that many traders have accused them of having big spreads. They’re not providing satisfactory feedback regarding the same.
The other brokers they work with are AVA Trade and Robo Forex. Robo Forex is a pure scam! Ava Trade is more or less like FXTM.
I’ve got no idea how they trade with these brokers but my suspicious is that perhaps, the anonymous owner of Forex 92 is related with any of these brokers.
Having said this, we would like to review Forex 92 trading methodology and what they are promising on their site.
Trading methodology and the promises
They claim to use price action with Volume Spread Analysis (VSA). They want investors to believe that risk is controlled professionally and each trade is only taken after an extensive technical and fundamental analysis has been conducted.
Advertised draw down is 20% but their myfxbook link shows that they have a draw down of 51%. I don’t know why this is the case. I tried asking as usual using a pseudo email but got a deafening silence.
They assure investors that Forex 92 is only trading safe markets and avoiding markets such as Gold, Oil and CFDs.
If they are using price action with excellent risk management, they shouldn’t be having this kind of draw down. So obviously investors who had put their monies into this poorly managed Forex account counted their losses.
As soon as you visit Forex92 website, you’ll be welcomed by a woman presenter who was clearly paid to provide some fantasy showtime.
For the first time I was relieved from the pressures of trying to investigate a dubious managed Forex provider like this one.
The job was monotonous but at least the woman’s physical appearance provided the much needed relief albeit insisting that Forex92 was the real deal.
Forex92 review: Investigating the alleged returns
I asked a woman called Angela Riplay and got no fucking answer. I wonder how you’ll ever get an answer if you start asking the hard questions like me.
As you can see, the name is in italics and that’s because it makes no sense for these financial douchebags to reveal their identities at this point.
Anyway, strategy 2 was copied from Forex Lens. I asked them whether they are collaborating with Forex Lens. Again, I was met with deafening silence.
Their first strategy has made 25% gains since June 28, 2019. If you do your math, you will see that this is not 25% per month but 6% monthly return (with a huge draw down that wiped half of the investors’ deposits).
Forex92 is obviously a dubious managed Forex account with no reliable track record. Let’s ponder on the following facts:
- Fund manager does not give reasons why they’re riding on Forex Lens myfxbook.com results
- They’re anonymously running their website
- No response to customers who ask the difficult questions like why draw down is high
- The owner is quite arrogant
Thank you for reading this Forex92 review. We hope you learned something. If you have anything to say, please comment below this article.