Xeconds.com Review: Managed Account Scam?
Welcome to xeconds.com review.
Xeconds also owns a defunct domain signalmonsters.com. This domain is now on sale.
Xeconds is claiming to provide managed Forex accounts through traders with proven track record.
They offer 3 investment portfolios with different features and minimum deposit requirements.
Xeconds does not appear to be a popular managed Forex account provider since their website is not receiving any significant traffic.
They claim that their company is incorporated as Xeconds Strategy Ltd and are situated in St. Vincent & the Grenadines .
To contact them, users have to send an email to chap@xeconds.com or use the company’s phone number +65 9635 7797.
Today we want to review Xeconds as a service provider for managed accounts to see whether their managed accounts are viable.
Xeconds review
Xeconds’ website gives multiple reasons why they believe their service is superior.
This is the case with bogus managed account services such as Forex 92, LadyF Trader and many others.
They believe that giving multiple reasons for choosing them will persuade investors to actually open an account with them.
Unfortunately this can’t work in 2020.
Xeconds also claims that safety of client funds is guaranteed because Xeconds has partnered with ASIC-regulated brokers in Australia.
For optimal performance, the fund manager is purportedly using their proprietary trading software that has low latency.
They want investors to know that their managed accounts results can be viewed on both myfxbook and FXblue accounts respectively.
They even re-assure investors that traders who handle Xeconds managed accounts are rigorously vetted (i.e placed in 6 months of incubation period) to see whether they can perform.
These traders are allegedly hand-picked because they have live a track record from trading live accounts.
Their statistics are analyzed as part of the audit process to ensure traders can deliver.
To get started, Xeconds website has provided 3 types of managed accounts featuring portfolios which investors can choose from.
The managed account types are as follows:
[tabs][tab title=”Standard Portfolio”]Minimum deposit: $40,000
- Institutional Grade– Alpha
- Beta (β): <0.8
- Conservative Capital Growth
- Accept US Clients
- 40% Profit Sharing
- 2% Annual Fee
- No Entry or Exit Charge
- $40 Monthly Server Fee
- Major Currency Pairs
[/tab] [tab title=”VIP Portfolio”]Minimum Deposit: $20,000
- Algorithmic Trading Systems
- Beta (β): >1.2
- Fast-track Capital Growth
- Do Not Accept US Clients
- 50% Profit Sharing
- 0% Annual Fee
- No Entry or Exit Charge
- Server Fee Waived
- Major Currency Pairs and Metals
[/tab] [tab title=”Pro Portfolio”]Minimum Deposit: $20,000
- Algorithmic Trading Systems
- Beta (β): >1
- Steady Capital Growth
- Do Not Accept US Clients
- 30% Profit Sharing
- 0% Annual Fee
- No Entry or Exit Charge
- Server Fee Waived
- Major Currency Pairs and Metals
[/tab][/tabs]
Xeconds is also providing copy-trading services though it’s not clear whether or not charges are involved in using the service.
Will you really make money with Xeconds?
It’s a bit difficult to answer this question at this moment in time.
The first thing we expected from this company was the proof of successful trading.
While they claim that their traders are vetted properly and given funds to trade when they have a myfxbook account track record, the fact is that this website has not provided any link to the said myfxbook accounts.
We can therefore conclude that these claims are unverifiable.
In 2020, managed account providers must show their track record using third-party statement sharing platforms like myfxbook.com.
Failure to do so makes the work of an investor quite difficult.
An investor needs to verify that the statistics are true.
A third-party statement sharing platform like myfxbook will provide insights on average monthly gain, draw down and so on.
Another thing that we’ve noticed on the Xeconds website is that the entire site is not ready.
Some parts are still showing HTML text and they also appear to be broken.
If this has not been fixed and yet Xeconds claims that they’re professional and are demanding $20,000 as minimum deposit, then clearly the owner of this website is not serious about their business.
We can’t trust them for letting the public see an incomplete website.
This is happening at the time of writing this Xeconds review.
In addition to all of the above, the vendor does not provide us with details of their trading methodology.
They think that by using a lot of words here and there, investors will believe their story and hopefully open a managed account through their website.
The truth is that investors will also look at customer feedback (if there’s any).
Feedback from initial investors of Xeconds managed accounts should be pleasant.
Otherwise we don’t think they’ll ever get customers.
Unfortunately, there are no reviews from customers who have used this service.
Hopefully. this review will serve as a good platform to air your opinion regarding this service.
Conclusion
Xeconds claims to be a fund manager yet lots of things are still not known about them.
With an incomplete website, not only are they suffering embarrassment, but they are scaring customers away.
I hope to see them add their purported myfxbook and fxblue accounts soon.
Xeconds also needs to get some reviews from customers who invested with them so we can edit this review in the future.
Thanks for reading this Xeconds review.
We would like to hear your opinion.