It seems like you are visiting me for the first time. Welcome! Check out the GalleonFX Review: Managed Forex Acccounts - 10k Minimum, Automated Trading
Most good managed forex account require minimum investment of $25,000, $100,000 or even $250,000. There are just a few good ones which accept $10,000 or less and most of them deserve deeper look even because of this fact alone.
GalleonFX is one of these services accepting investors with $5,000. They use automated trading system, which is constantly being worked on and improved.
Here are the technical details:
- Euro 2:1 leverage
- 2 Forex brockerages available
- Minimum investment: $10,000. There was a limited time offer of $5,000 which I used to fund my account. Such might or might not be available again in the future.
- 25% fees on the performane results
- The average backtesting performance exceeds 100% per year
The Real Performance
The backtesting results are very impressive, but unfortunately the real performance is far behind them. The trading was doing fairly well since May 2007 when 2 flat and 2 negative month ruined most of the profits.
Still the result for 2007 is positive. In September the trading turned back to good and even these who entered the service in the worst moment (like me!) are now close to break even.
Considering how bad July and August were for many forex traders, I think GalleonFX managed OK with the situation.
The Future
If GalleonFX can continue with results like in the first half of 2007 (and like they start now in September), the yearly average ROI will be between 50% - 100%. Even a conservative estimate of 50% yearly can make you quite wealthy in ten - fifteen years even if you withdraw half of your profits.
Like with any forex investment don’t forget there is significant risk of losses. While losing it all is only theoretical, a drawdown of 50% is not impossible.
To Invest Or Not?
The decision is entirely yours, just consider the comments in the previous section. Only your “risk capital” should go into forex based investments. Risk capital means money that you can afford to lose, i.e. they are not the momey for your mortgage, rent or education.
On the other hand, the risk capital is usually the one which brings the best returns, so if you have it, why waiting? Click here to join GalleonFX and make profits.
P.S. In the Picks section you will find some managed accounts which seem to be (and maybe are) more lcrative. The reason I have chosen Galleon here is that I am using them since an year and have real long term experience with them.
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December 18th, 2007 at 11:17 pm
[...] (read GalleonFX review) as usual had some ups and downs, but at the moment the profit for December is about 8.5%. Not bad [...]
December 19th, 2007 at 1:59 am
[...] (read GalleonFX review) as usual had some ups and downs, but at the moment the profit for December is about 8.5%. Not bad [...]
January 24th, 2008 at 9:05 pm
My GalleonFx account is down a SHOCKING 40% within 1 week ! ! !
What is happening ? ? ! !
I closed my account and I am OUT ……………….
Check out these links :
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http://alansmoneyblog.com/
http://thehyipblog.com/
January 24th, 2008 at 10:46 pm
Same with me, I was one click away of closing it this morning. But then decided to hold on, as it’s not a good idea to stop it when it’s so low. Right now there is floating “profit” of about 18%. Not very hot, considering the drawdown, but I have decided to risk this money, so shall be it. I am staying and waiting for better time.
March 9th, 2008 at 4:16 pm
[...] And finally, after the horrible January GalleonFX made wonderful February with 16.8% profit in my Euro PAMM account. Galleon keeps kicking in March and the minimum is temporary only $2,000, so now is the best time for you to join if you have not done that yet. Full and a bit dated review of GalleonFX is available here. [...]
March 10th, 2008 at 1:25 pm
[...] And finally, after the horrible January GalleonFX made wonderful February with 16.8% profit in my Euro PAMM account. Galleon keeps kicking in March and the minimum is temporary only $2,000, so now is the best time for you to join if you have not done that yet. Full and a bit dated review of GalleonFX is available here. [...]
March 25th, 2008 at 7:50 am
GalleonFX website link no good. Are they still around?
March 25th, 2008 at 11:56 am
The site is up now, server problems happen from time to time. They are still around
April 11th, 2008 at 8:45 am
It is one of things I can never understand … how people can think that way. It’s so illogical that it can only be based upon moronity.
April 11th, 2008 at 10:17 am
What do you mean, LovelyAngle?
May 21st, 2008 at 8:44 pm
[...] is pathetic. Since my investment in July 2007 I am not in profit, but in 30% loss. See the full review about [...]
May 22nd, 2008 at 2:16 pm
I think GalleonFx is a JOKE.
Obviously their strategy, program and filters are all NOT WORKING.
I would sacked all the traders and hire new ones.
BEN, when are we going to see some gains ? !
It is indeed a JOKE.