No, GalleonFX Is Not Scam

January 14, 2008

But yes, the trading results are very volatile.

People constantly come to this blog searching for words and phrases like the ones on the screenshot below:

galleonfx fraud scam, galleon scam

So I wanted to post this bit and make it clear that GalleonFX managed forex account is not a scam. The results posted on their sites are real and I am able to verify this because I have an active account with them.

However…

The trading is really very voilatile. At the end of 2007 my account was up with 44% for about six months.

Now, at Jan 12th, the draw down for two weeks is close to 40% and my account is in about 10% loss.

I know the things will most probably improve to the end of the month, but anyway you should have healthy nerves if you want to invest in GalleonFX.

I plan to change my strategy with them. I’ll add more funds at the lower times and withdraw 50% of the profits in each profitable month. Because with such volatile results investing the minimum and hoping to compound doesn’t make much sense. Later I’ll write more about this non-compounding strategy and why it is good with some high risk investments.

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Jose L. Aguilar- SharkInvestor.com Author

Being able to Invest & Trade on your own is the most amazing road to financial independence & optional retirement. I was very fortunate to have amazing mentors and read many amazing authors, I hope you enjoy my articles & books suggestions which are made with the intent to share my experiences as simple as possible.

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By Jose L. Aguilar

Being able to Invest & Trade on your own is the most amazing road to financial independence & optional retirement. I was very fortunate to have amazing mentors and read many amazing authors, I hope you enjoy my articles & books suggestions which are made with the intent to share my experiences as simple as possible.

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5 Comments

  1. mat

    i gave them a try from 7th to 10th january 2008. producing 11% loss. i really won’t trust such a volatile system.
    at the moment i am only invested in the sentiment aggressive fund since this month. so far it is 3% down, but in a longer period than galleon. I can afford the 3% loss with the aggressive version so far…

    an account for trading by devrim has just been opened. McElhannon premium and scalping will follow and I’d like to give bankedge and stopfinder a chance.

    Reply
  2. admin

    I am looking at Devrim myself too, will do a review soon. Thanks for the comment, Mat

    Reply
  3. mat

    is your account funded already?

    i am only concerned about the broker he uses, pfg.
    you will find some strange posts on forexbastards.com about this company.

    Reply
  4. admin

    No, not yet Mat. I am waiting for another MA to get approved first

    Reply
  5. PeeWee

    Yes, GalleonFx is a not a SCAM.

    BUT …. it is currently the WORST forex managed program on the market. Mine is down 70 %.

    Thanks ! Ben. You should think of retiring …………..

    Stupid @$@#*&^%$$#()()^%$%%^&**(( ! ! !

    Reply

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