The sluggish financial market in China in the past two years has made investors, especially fund investors, understand a truth: their investment funds still need to be in their own hands, even if we lose ourselves; Making fund managers lose money and seeing them earning high income is simply not a pleasant experience.
This principle also applies to the foreign exchange market, such as proxy trading and EA trading.
Questioning: EA trading experts always lose money on multiple orders
On October 17th, Mr. Wu, a user of Aihui Cha, sent a complaint stating that "the Futuo platform maliciously opened positions and automatically conducted EA transactions, resulting in a position explosion".
Regarding the EA transaction of FXTM Futuo, the editor did not find any relevant information on its official website. Do you have any understanding? From the screenshot of the transaction list provided by Mr. Wu, it can be seen that these transactions mainly occurred between September 20th and October 2nd, with a wide variety of transactions, including CHNA50, XAGUSD, XAUUSD, and so on. It can be seen that these transactions have more losses than gains, and the number of losing orders is larger than the number of profitable orders, and many losing orders are placed successively during the same period.
In this situation, Mr. Wu's account suffered a total loss of over $570000 (approximately RMB 4.17 million), no wonder Mr. Wu believed that Futuo was maliciously engaging in EA transactions.
The crux of the current issue is who provided Mr. Wu's EA trading system, whether it is the FXTM Futuo platform, through Futuo's agents, or whether the EA system found through other channels is only running on the Futuo platform. These different situations all point to different responsible persons, and Aihuicha will continue to follow up on related issues in the future.
Ai Hui Cha Reminder:
Because Mr. Wu has encountered a special situation, let's take a look at the reputation of FXTM in Aihuicha.
The reputation it has received this year has been mixed, with positive customers stating that FXTM Futuo's customer service is good, cash is convenient, and the difference is small. But it also has several 1-point negative reviews, claiming that it "earns money but not profits, can afford to lose"; Accuse it of "charging indiscriminately when it is short," and some users claim that its inventory fees are outrageously high, and even some users claim that its bank card for depositing funds in FXTM Futuo has been frozen.
FXTM has always been a highly regulated platform, holding regulatory licenses from four countries including the UK FCA and Cyprus CySEC, and is an established dealer with a history of 12 years. But it must be mentioned here that there are no perfect traders in the world, and even compliant platforms may have some problems due to management, server, and other reasons. After measuring the trading environment, transaction costs, and customer service communication attitude, Huiyou can only choose a platform that suits their trading style and is relatively comfortable to use.
Finally, return to the issue of investment control mentioned at the beginning of the article. Aihuicha suggests that without sufficient knowledge of the EA system or acting as a trading agent, people should not take the risk of deceiving others in investment transactions. After all, knowing the face of others is not knowing the heart, and a heart of defense is essential.
