Hello Everyone, once in a while something new comes along and revolutionizes the way people trade Forex. I believe this is one of those tools and the best part is this is not something you have to pay for. Its available to everyone at no charge from World Pro Fx which is a huge plus. Take a quick look, I think you are going to be super excited to give this a shot once you see how much easier this can make your Forex trading or any trading for that matter.
This awesome tool allows you to see the trades and analyse all of the traders at your firm. It even gives you the top traders in a list as well as a trader spotlight all of which can be clicked to open a new screen allowing you to analyze their trade stats such as P&L, draw down, trades taken, and a number of other key pieces of information. The best thing is, once you have found a trader that you like you can simply click a button to enter the same trades he or she is entering. Its like having a signal service from every successful trader at your broker except you don’t have to pay for it and these are every day traders not marketers selling your a product.
The second thing that excites me about this platform is that when you use it it also tracks your stats providing you with valuable incite into your own trading. This will allow you to target strengths and weaknesses within your own strategies. In this video I demonstrate some of the features and in doing so I identify an issue in my own trading. So take a look and see how it brought to light a major problem with my own strategy allowing me to make some minor adjustment that saved me a fortune.
For best viewing double click the video to watch full screen and select 1080p in the lower right hand corner.
The website for World Pro Fx is www.worldprofx.com and you can test it out there.
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I had a look at ForexPeaceArmy.com
Not very flattering remarks. Will concequently stay away.
Anyway – thanks for your information. The idea is good but wish it could be done with a reputable broker in London.
Regards,
Peter Soested
–Reply–
Yeah, I checked up on those comments. None of them really held up to any scrutiny. One of them was a person using Toms EA that over leveraged their account and blew it up, not really the brokers fault. The cited something about account type but WPFX has flex accounts so the trade size is left to the client to choose. One posted the same page I posted earlier citing that WPFX was a fraud but I think he just misinterpreted the page. It actually says they are 1 of just a dozen or so firms authorized to conduct Forex business and to look out for those not registered. The other negative remark says it took some time to process the account. As I have said before, the requirements are stricter and therefore it does take more time to get an account opened and funded. It appears to me that due to them being a new firm the overall number of comments on that site are low and as a rule of thumb those that are disgruntled tend to be the loudest of all which would explain the ratio of good to bad. I expect that over time you will see that normalize. I would just check with the Superintendent of Panama. That should clarify things. I would not post about them if I believed they were some type of scam.
Dustin
Will this program work om a MAC?
Charles, the web trader is browser based and as far as I know it will work with Mac’s. Best way is try it. You can demo it or open the account and collect the free money they are giving out.
Do they still not accept US clients?
Ron, unless the US changes their stance I expect WPFX will never accept US clients. Any non US firm that does not also have US offices accepting US clients is a time bomb. I would avoid any such place. If you want to open off shore you may want to investigate setting up an offshore entity. I am not making a suggestion or a recommendation just stating a little research goes a long way if you are looking to access the higher leverage provided outside the US.
G’day Dustin
Are client funds segregated?
How secure and reliable is Worldprofx?
Where can we research them?
Thanks
George
George, client funds are segregated in the way that they have an operating account and a client account so their funds are not co-mingled. Each month they transfer any profits from the client account to the operating account and any bills are paid out of the operating account. I asked this very same question.
This keeps the lines clear on what money is theirs and what money is clients. You will see when you open your account that the process is a little more involved than most firms. This is because Panama has gotten very serious over the last year about putting itself on the map as a safe place for investors. Its not as easy as filling out an online form and your done but most serious investors appreciate the extra steps. You can check with the Securities Market Superintendence of Panama for additional information. http://www.supervalores.gob.pa/component/content/article/30/600-forex.html you will see WorldProFx is one of only about a dozen or so that are authorized to service Forex clients.
And how much do you get as a referral fee aa an introducing broker?
==Reply==
I am not an introducing broker so the answer would be I get no referral fee. Its a great tool and I am sharing it.
Dustin