This managed forex account had an amazing two years, 2014 and 2015. This current year, 2016, has come as quite a shock because returns have not been as good as the previous two years. In fact, there has been a loss.
For more information, please check out wealthified.net
However, this doesn’t tell the whole story. More of that later.
Let me start this review by looking back at the trading performance of 2014 and 2015.
Below is the actual monthly returns that were achieved.
During 2014, the actual average monthly returns were 21%. When these monthly totals are compounded, they total over 621% profit for the year.
In 2015, the average profit on a monthly basis was 20.17% and the total compounded amount for the year was almost 615%.
To put this into monetary value, if you began the year 2014 with £1,000, you would have ended the year with £6,210. From this there would be 15% performance fees and $50 per million dollars traded, deducted.
In 2015, that £1,000 at the beginning of the year would compound to £6,150 at the end of the year. Once again, 15% performance fees are deducted and $50 per million dollars traded.
If you had started with £1,000 at the start of 2014 and left profits to compound over two years, at the end of 2015, you would end up with 3,820% compounded profit, so your £1,000 would have turned into £38,200 less 15% performance fees and $50 per million dollars traded.
As you will have noticed, a lot of profit is eaten up by the performance fees. There are many diverse managed forex accounts and they typically charge performance fees ranging from between 25% up to 50%.
Wealthified has an exceptionally low 15% performance fee. I have not seen this anywhere else. I think that a lot of potential investors will be enticed into investing because of this low charge. I have spoken to the owner of this account and he is considering putting up the fee to maybe 25% when he starts making big money again. It may be a good time to get started.
They do also charge a minimal volume fee of $50 per million dollars traded.
Wealthified has some other great advantages that might be of interest. The one that might attract many investors into the managed forex market is that the account opening minimum amount is a really low $5,000. It allows people to test the market to see if is for them of not, without the risk of losing too much money.
Within the last decade, the minimum amount required to open an account would be a $100,000. Now though, due to fast internet connections allowing many more individual investors to get started, competition has rocketed and opening limits have reduced dramatically. Still, most accounts require a minimum of $10,000 to open an account.
Going back to the returns for 2016, or lack of them.
2016 has been a very volatile year for trading. Brexit and the US election has turned trading the foreign currency market on it’s head.
There are many companies, big regulated managed forex suppliers that have lost most of clients money, many have lost it all and gone bust. What I am impressed about with Wealthified is that they were not afraid to stop trading while the market was so volatile. The start of the year was quite volatile, probably due to the imminent Brexit vote. During and after Brexit is when many companies went under.
It seems that the market is settling down again and we should start to see some profit once again soon.