FX Live Day Trading Review: Scam or Legit? - Topedgefx.com

FX Live Day Trading Review: Scam or Legit?

FX Live Day Trading provides Forex trading services such as signals, strategies, coaching, seminars and a trading room!

Even account funding is possible! Just “qualify”!

Now, according to marketing materials on the Fxlivedaytrading website, qualified traders will get funded between $5,000 up to $500,000.

Trader funding programs are quite controversial and as you’ve seen with some of our reviews, we don’t endorse them since they come with lots of caveats.

FX Live Day Trading is also offering a trade copier in their pro plan. This is to automate signals.

However, we encourage people with less capital to consider professionally managed accounts with small capital requirement and zero learning curve because this will free up time for other things.

Meanwhile, Fxlivedaytrading LLC is the company behind this website and they claim that they’ve been coaching students since 2010.

Indeed the service was started in March 2010 by someone who claims to be a seasoned financial trader from Wall street.

We don’t understand why this Wall Street trader lacks a proper introduction about themselves.

FX Live Day Trading review

In fact, the website of FX Live Day Trading does not have an about us page either. Probably they’re dismissing it but the truth is that we’re expecting maximum transparency from trading educators who charge exorbitant fees to mentor students.

We also need to understand why they are spending time teaching and not trading.

Isn’t trading more profitable than teaching?

The sales page only consists of multiple sections highlighting why we need to join their trading room or use their signal services for that matter.

The vendor is a bit focused on selling than proving that their skill is worth purchasing.

Assuming they got this right, it would have encouraged us to make a purchase or even include it in our list of the most recommended trading services.

Although this is the case, we’re going to provide a quick write up of this service to let you know whether or not it’s worth trying.

FX Live Day Trading review

We’re finding it quite difficult to believe that this service is different from the competition out there.

One on one mentorship costs a whooping $1,000 every month.

It makes no sense unless the vendor can prove that they offer a trading service like no other.

Trade coaching has a time limit too. Beginners pay $125 hourly while advanced traders pay $599 every 3 to 4 hours.

There are different pricing points depending on the level of experience a trader possesses.

Apart from the Forex trading room, Fxlivedaytrading also provides a Futures and Bitcoin trading room.

Both trading rooms are offered as separate services.

In addition to this, the company is providing a mobile app and a signal platform for desktop and tablet.

Users will receive signal alerts through SMS and email.

Based on what we see on the sales page of FX Live Day Trading, we feel that this vendor is optimistic about their service but not providing any solid reasons as to why we should subscribe.

Trading performance of FXLiveDayTrading

After all has been said and done, we settle down with the company’s trading performance since they claim the vendor has been actively trading and coaching for 10 years.

We found an FX blue account with a trading sample covering 29th of July 2020 up to present.

The company has made some gains as total returns are currently at +93.2% while drawdown is 21.2%.

This is a short sample of trading results which means it’s still too early to determine the consistency of this strategy.

Besides, we prefer that vendors should document their trading results on myfxbook instead of FX blue.

The reason is that myfxbook is straight forward and results are easy to analyze. We don’t find it cumbersome like Fx Blue.

Now, the worst part is that Fxlivedaytrading only has 4 months of trading results despite running the business for a decade?

Last but not least, does this company have clients whose results are matching theirs?

FX Live Day Trading Customer reviews

We know Trustpilot currently has 12 glowing reviews of this company’s quality of service.

A quick glance might deceive you because those reviews are really positive.

However, considering how TrustPilot makes money, I feel that there is no way the reviews can be negative even if there are hundreds of customers complaining that Fxlivedaytrading scammed them. Why?

Because Trustpilot gets paid so that vendors can “claim their profile”.

In other words, if a doggy vendor learns of this “reputation management service”, they will quickly sign up and pay to start “moderating” reviews, even posting multiple fake ones under different names and filtering out the honest ones.

In the end, everybody who sees these reviews will conclude that Fxlivedaytrading is legitimate.

Conclusion

We’re not saying Fx live day trading is a scam. However, their style of marketing is deceptive.

Secondly, we want to see whether their customers are also getting the same kind of results they have on their FX blue account.

Thirdly, it’s impossible to verify the vendor’s Wall Street trading experience.

The only thing we confirmed is that the service was live on the internet as of 2010.

These concerns need to be addressed for us to consider updating this review.

Otherwise, we don’t see any compelling reasons to recommend this service.

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