We tested, reviewed and approved the FX Foundations service this time last year. It’s run by a small group of ex-city traders who offer reports and advice on trading levels, plus a strategy to use with the reports. Until now, it’s been up to the individual subscribers to use the reports to make their own trading decisions based on their levels and using the strategy advised to profit accordingly.
One trader uses three particular daily reports to achieve astonishing results, making an average of around 200 pips profit a week without a single losing week. I’ve been following his progress for well over a year now and in that time he’s made over 10,000 pips profit.
Well, that trader has now teamed up with FX Foundations to offer a signal service of his very own trades. Not only that, the whole thing is completely automated through 4X Solutions which is a trade copier service.
What this means is that you deposit your trading bank into your spread betting account, you link your account to the trader via 4X Solutions, and whenever he places a trade on his account, the exact same trade is placed on your account automatically without any intervention from you. The whole thing is web based which means there’s no software to download or run, no VPS to hire, nothing. You set it up, set the amount you wish to stake per pip, and turn it on.
Of course you can switch it on and off whenever you like. You control exactly how much is going to be staked, and the master trader cannot access your account, so you’re in full control.
He sets a maximum stop loss of 40 pips, aiming for 30 pips profit, so you know in advance what your maximum liability will be on any trade and you can set your stakes accordingly.
Assuming he continues to average 200 pips a week profit, that would be a nice £100,000 tax free annual income at £10 per pip without having to do a thing. It’s not bad at £2.50 a pip, to be fair.
The cost of the service is £199/month plus the 4X Solutions subscription which is £18 a month.
They are confident enough in their service that they offer a unique guarantee. If you don’t make at least 200 pips profit in a month you get a full refund. So, even trading at just £1 a pip, you are guaranteed to cover your subscription fee. But since the trader has been making around 800 pips a month, they can be fairly confident that you won’t be asking for one.
If you were to trade at £1 a pip, that’s around £600 a month profit, after fees, for doing nothing. At £2 a pip, that’s £1400 a month tax free, and at £5 a pip that’s a whopping £3800 a month income.
I’ve decided to go straight in at £10 a pip. Nothing ventured, nothing gained!
I’ll be publishing my results on the blog as we go.
You can try FXF-Signals here:
Regarding the trade-copier service, how much of a bank would you need to trade at £1 a pip?
The size of the trading bank you use is entirely up to you but I’m fairly conservative so I’m only risking 4% of bank per trade. Since the maximum loss is 40 pips, I’m using a 1000 pip bank. I haven’t deposited that amount in my account but I will top up if necessary.
Might be worth while the readers of your blog to await your results to be posted before they jump in and spend there cash, as the results to date haven’t been near the claimed amount and been a little lacking. Im currently up (points wise) after 5 weeks of being connected to the service, but nothing like the 1000 points expected, 200 points would even be good.
Trading conditions may not be the best at the moment and trading is of course a long game, but thought i would just write this so if your readers are expecting headline figures, then they would be disappointed. Hopefully we will soon be hitting them numbers.
Also your not refunded if they dont hit 200 points, its just carried forward to the next month, like they have done this month, so a free month.
I would also like to point out if people are wanting to be connected that they have started doing daily emails on what has happened so you dont have to connect and see what has happened, you may want to for the first few trades to ensure they are connecting properly.
I will be continuing with the service also, im not saying the service is bad and should be avoided (not yet anyway) just not to be expecting what is sold as a 200 point a week service.
Anyway hope this helps people before they jump in both feet first.
Yes, I noticed the same. Let’s see how we get on.
Thank you Andy for your precious info from my side also.
After 5 weeks Andy how many points up are you if you don’t mind me asking?
With the trade copier service do you have to sign up to that separately or does it get provided as an extra through FXF?
You sign up to that separately as it is another company that provides that. You get full details of how to do this when you subscribe.
Is there a MyFxBook link showing the performance and the characteristics (profit factor, duration etc.) of the trading signal?
Not that I know of. I’ll ask them to set one up.
Do they recommend a spread betting company?
I already had an account with GKFX.co.uk but they will recommend a broker if you don’t have one.
posting this question here so other folks can see it. What size of bank is needed to stake £1 per pip at a sensible 2% risk?
At 2% risk you’d need £2000 bank. I’m using 4% risk so that would require a £1000 bank at £1 per pip.
Are you planning on posting weekly or monthly updates?
Probably monthly but I could do weekly if you prefer.
Hi — Sounds promising as an alternative investment. Question :– can you link this 4X to IG Index?
It needs to be a broker that runs the MT4 platform. I’m using GKFX.co.uk but I think I read somewhere that IG have a MT4 platform so maybe?
IG index MT4 account is a CFD account so any profits (if there are any) would be considered taxable unlike spreadbetting.
Hi, would just like to agree with Andy above re performance, only 3 trades in last 3/4 weeks ( 2 losers ) hopefully this will turnaround soon
Since it started here are the actual results achieved live with the copier.
In addition there has been approx 3 evtra points paid for rolling over the contract.
The first trade was executed on 22 March so after approximately 5 weeks the profit currently stands at just over 20 pips as opposed to the 1000 that should have been achieved in their forecast.
It’s early days, they seem like honest enough people I’m going to take a view over a 3 month period. My concern is that the trading pattern bears almost no resemblance to the previously presented results. Have markets really been so completely different in the last 5 weeks compared to the entire previous 13 months, I’m really not so sure.
It would be great if you could post weekly updates esp as a couple of readers are not getting the 200 pips per week returns.
Will will be very interesting to follow this service on a weekly basis
Yep, I agree completely with Andy and AndyB, the service is not hitting the 200 pw or 800 pm or anywhere near it for that matter.
The first month didn’t get near 200 pts, hence this month is free. To say I’ve been disappointed is an understatement.
They are adding a second master trader if the first one doesn’t deliver the goods.
Fingers crossed for an upturn in fortunes.