Forex92.com Review: Forex92 is a Scam!
Welcome to the Forex92 review. This review is about a website that believes that less amount of low-risk profit is better than high amount of high-risk profit. In short, this Forex portfolio management service is claiming that they take less risky trades less frequently while avoiding high-risk trades like the plague.
I want to believe that this claim can be backed by proof of live trading in a Forex account that has generated consistent positive returns over time.
The guy behind Forex92 is known as Usman Ahmed. He’s been aggressively marketing this service across many Forex investment industry websites through guest posts. If you are a frequent visitor of sites like DailyFX and Leaprate, chances are that you have come across one of his articles. The aim of this Forex92 review is to establish whether Usman Ahmed is a professional trader or an internet marketer, an SEO expert and possibly a charlatan (in the worst case scenario).
Forex92 maintains and operates this Facebook and Twitter pages. Both pages have a ”decent following” but the last time that an update was done on those pages was on March 29. I am doing this review on May 5th 2019.
Besides, this social following does not look legit as none of their 4000+ social media followers are commenting or giving their feedback regarding their experience with Forex92 managed accounts. Definitely one has to be suspicious when many people appear to follow a company on social media and none of them are providing any feedback.
Forex92 tells us that they are based in 84 Spyrou Kyprianou St, Cyprus and are using the phone number
+357 25 123308 for their support department.
Reviews about Forex 92 have appeared on sites like Signals365.com, Snipe the Trade, Investoo and a couple others. I think this is the 5th professional Forex92 review that has been written so far since Google has ranked a few reviews about this managed Forex account service. Major Forex investment websites and blogs that specialize in publishing reviews have not said anything about Forex 92.
I was expecting this website to appear on the popular trading forum, Forex Peace Army but this has never happened up to now. Usually, popular sites offering trading services in Forex, stocks and Crypto currencies will feature on this forum and there will be a discussing about their standard of service. But Forex 92 has never featured on this site, which agrees with my theory that their social media following is probably fake.
Managed Forex account types offered by Forex 92
They offer 3 types of managed Forex accounts which are geared towards individual investors, business and enterprise investors. They are as follows:
(1) Personal account $5,000 minimum investment. 10% monthly returns. Commission is 35%. This account comes with moderate risk level and regular customer support.
(2) Business account with minimum investment of $10,000 and monthly returns of 15%. Performance fee is 30% and risk level is low. Customers on this account get a dedicated account manager.
(3) Enterprise account requires a minimum investment of $50,000. It attracts monthly returns of 20% and 25% commission. It comes with a dedicated account manager and nearly zero risk level.
Trading strategy for Forex92
They tell us that their trading strategy is based on
Price Action and Volume Spread Analysis (VSA). Forex 92 wants us to know that their traders conduct extensive fundamental and technical analysis before placing trades. This way, they have been able to identify profitable trades to make money for their clients.
Besides, the managed Forex account service also claims that they are low risk traders who generate anywhere between 10%-20% ROI every month. Here at campforex, we average 25% per month and in a good month, it is not unusual to hit 30%. That is why you should consider our managed trading accounts instead.
Forex92 review – how it works
This managed trading account service has a peculiar way of operation. To get started, investors are asked to open a live trading account with one of their partner brokers.
Once the account has been funded, Forex 92 needs the login credentials for MT4 so that they can trade your account on your behalf.
This is quite different from the way we trade our clients’ funds though. We don’t need your login details because our master account is automatically connected to your sub account the moment you sign up.
Forex 92 review – should you sign up?
I would be concerned before making a step to sign up since I don’t know how true their returns are. Perhaps a redacted monthly statement can serve as proof enough that the advised returns are possible. If not, they can provide us with a myfxbook account which they do not have so far.
There is no proof of consistent performance with this Forex fund. So I am just wondering what reasons can make us trust them.
Forex 92 is quite popular but that does not mean you will make money with them. Price action is a valid strategy for trading but we need proof of successful trading to trust the managed trading account service.
This does not look like a bad managed trading account service. However, they fail to invoke confidence in the way they present their service to us.
The service has been featured on investoo.com and rated with a 5 star. I cannot trust a rating that was given by an author of that Forex 92 review. I only trust ratings from several investors.
Unfortunately, we cannot find reviews and testimonials about this service which makes us think that they probably paid for the advertising on investoo to woo investors.
At this point, the decision is yours to make. I do not think this managed account service can be trusted 100%.