Friday, December 4, 2009

LeverageFX - A Second Review

A few months back I wrote a review of the leveragefx website encouraged by a fellow trader who asked me to analyze the website for him. After having published the review for a few weeks I started to receive comments from people trading using leveragefx and from the creator of the system himself who accused me of having business with his competition. Of course, if you look at the comments on that review you will find out that I agreed to go through their free online courses and reevaluate their system to do it more justice.

In all fairness, after joining the courses (obviously I used a different email and name to remain anonymous) I have to say that the info displayed on the leveragefx website does no justice to the courses offered and the trading systems these people make available for use. The courses do teach money management techniques and they do show you how you should both enter and exit the market based on quiet sound trading techniques.

Am I convinced ? Well, I would have to say that even though I enjoyed most of the hours I spent at the free course I am still reluctant to believe the profitability claims because I think that there is not enough evidence given as long enough statements to believe that using their systems can certainly generate me profitability in the long term. However, I do believe that they do teach sound money management and trading tactics and at least you might consider to take the free courses and decide for yourselves if the system is or is not for you.

Since I trade exclusively from price action their services seem very overpriced and unnecessary for me, however depending on your personality you may be inclined to take their services and use their products. To be fair, they do need to better explain their courses and the contents of their products on their website. The lack of a good enough explanation and the absence of statements showing results made me write a first negative review which I now correct a little bit to say that the systems offered at leveragefx may be right for some people, depending on your trading personality. I for one feel that much more evidence of profitability is required and that until they have at least 5 years of profitable trading records, verifiable through investor password access to the accounts it is very likely that their trading systems are just not long term profitable.

My advice is that you judge for yourself. Go through their free online courses and look at the trading strategies, mechanisms and evidence they provide and judge for yourself if leveragefx is the system for you. For me it is not. If you came here to learn about automated trading systems please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !

No comments:

Daniel Fernandez's Expert Author Email Alerts
Sign up to receive email alerts of Daniel Fernandez’s latest articles from!

Email Address: