Prophet FX Reviews 122

Recov-capital helped me reclaim control by returning what was taken unfairly by this company

they started of great. But due to poor management and decision making on client funds they managed to run themselves and their clients into the gutter. People lost millions and the owners disappeared.

Do not trust, bunch of scammers.

Started off great, made money, but clearly they have messed up their system some where along the way, opening 4 trades in a row in the same losing currency pair, didnt take the profit and then the trade went south for 4 months, showing no risk management, if they had stuck to what was realistic and safe given the fund they would have opened may 1 or 2 or used a stop loss, would have saved a lot of investors losing money, then to open hedge positions shows a total lack of understanding of the situation.
Real shame as Forex can be a dangerous place, i feel they could have prevented this, the whole reason i got involved is that they were being more careful and managing the risk.

Prophets rebranded as Motioncapital after a rogue trade nearly destroyed alot of accounts, then followed by months of under performance and alot of admin/managment errors. ignor the claimed returns expect 30% drawdown for 1% monthly return.

I have made money whilst being with Prophet FX, there is no doubt in that. But, after 2 months of being with them, i just can't see how their EA (Expert Advisor) implements any risk management.

When your account is in -10% Drawdown, this is not risk management at all. Any respectable investment company will use a 1:1 or even 1:2 Risk Reward ratio. However, i have seen my account at -£1700 to gain £70 profit on a trade. That means the Risk reward ratio is 10:0.5 on my £14k account.

I know lots of people have made money with Prophet and i don't personally know anyone who has lost. But with a fair sized account, anyone could blindly enter a trade in any direction and ride through the storm until it eventually turned a profit. This is not trading, it's gambling!

I have withdrawn my account and decided to nurture my current drawdown until those trades reach a profit or reach a point where i'm happy to close them. I did have to change my password on my account as i had requested no more trades to be placed, however they did keep on adding trades. So to prevent any new trades being added i changed my trading account password.

I'm sure they will go on to keep making people money, and again i can't say that yet i have had a losing trade (And losing trades SHOULD be expected in trading). But i think the reason they don't lose, is because there is no risk management. Even the best traders out there DON'T have a 100% Winning strategy.

I think its time for them to ditch the Expert Advisor, and start trading properly. (50 lines of code aren't the guru to success, they cannot gauge market sentiment nor can it consider fundamental or technical analysis).

I was interested in using the service and had a substantial amount to invest but I enquired in the potential client chat and was spoken to like dirt by one of the admins which put me right off. Have now gone elsewhere.

I am really impressed so far!
I am a client for three months and ever since there was not even one trade closed negativ!
Dont expect huge earnings on your investment...They are wisely handling your money and keep the risk low...Thats exactly what a long term investor is looking for!!!
I have to give major props to prophetFx team, great job!
keep up the good work! ;)

@ prophethaschanged.
Was 5 stars but now 2, yet you’ve only written 1 review??
I have also used 20% overnight companies and of the 2 I used, found paying 20% of my earnings was great, except they lost it all.
Read the story about the tortoise and the rabbit!!
I use to panic about drawdown, but see that it is a great way of making bonus money on trades, whilst protecting my asset.
Keep up the good work guys and well done with the EA tweak for the global recession hitting all trades 100% satisfaction..

They've done me ok....doubled my initial investment in less than a year....no complaints here

Hi all,
I'm new to prophet joined beginning of April, I have to say how well the team run this platform, I have built up great deal of confidence in there risk management I have experienced 2 biggish DD'S which have both been exicuted very professionally with an excellent level of profit, is is easy to judge very quickly when a big DD happens but my opinion trust the prophet system and be patient the team always brings it home for the team,
Before you jump to conclusions and leave negative feed back when things get abit hairy take a leaf out of my book and talk to your account manager, they will help you through it my thanks go out to Josh,
May the bid booms continue with prophet

Was 5 stars. Now 2. 12 Months has changed them.

Been with PFX for over a year. This is my last month with them. lots has changed recently and I do not feel confident in the team or with the way they are handling my money.

A few points which need to be flagged and they will not be answered by admin but you need to think about these.

The answers that had been promised by the admin team around the rouge trade have never been answered. Customers are still in the dark regarding what happened.

ROI has dropped significantly; brochure a few months ago stated 24%. The website now says 14%. No one has actually seen double figures for months now on the standard risk.

Prophet are now being beaten every month by other EA's which are giving a higher monthly ROI for a lot less fee.

Issues around trades being placed or closed for everyone at the same time have still not been addressed. They always blame someone else for this but no other company has these issues.

There has been a data breach at some point.

Biggest insult to the oldest clients is the 30% fee and the so called "latency" or "slippage" issues. Since PFX managed to get high 6 and low 7 figure investments from the middle east, they no longer care about the people who stood by them when the started. Real kicker is that the new clients with bigger balance are not paying the 30%. I know this after speaking to some of the other clients who are on a smaller fee scale.

The trades recently have been very different to what the older clients are used to. Trades are going into higher draw down and being closed a lot earlier. They claim this is risk management; the truth is that it is pressure from the larger investors.

Do not believe the hype as much better investment platforms with good results for flat monthly fees or 20% not 30% and an additional fee for low returns

I previously wrote a review on the 30th May 2019 which I was two weeks into being a client so I thought that a year later it would be worth giving up update. Most importantly I am still invested and I am still a happy customer and I have several members of my friends, family and colleagues who have since invested with Prophet FX.

Within 2 weeks of writing my original review I had quadrupled my initial investment having gained a greater understanding for how it works. Timing was perfect as June-August were fantastic months in terms of ROI (June 15.57%, July 49.95% and Aug 14.45% according to my fxbook - although each client account would vary slightly).

September to December had lower ROI (however when I say lower I'm talking 2.85% being the slowest month and 10.06% being the highest - so in my opinion still very good).

In the new year they offered a higher risk setting to existing clients who have been with them for a few months and have come to understand how it works and the risks (and more importantly risk management involved). I went for the highest risk setting and even during the Covid-19 pandemic have been more then happy with the returns.

More then the ROI I have been particularly impressed with how the EA manages the trades when they do not initially go in the direction we want, this has been demonstrated on a few occasions and at no point have I feared my account is on the verge of getting blown.

I have been with Prophet for a few months now after moving my investment from another EA which I was happy with until I split my investment and was able to compare the two. Both gave similar levels of return on investment but It quickly became evident that Prophet was run much more professionally and very much along a trading strategy that had much better managed risk. Another big selling point for me is that the owners/directors regularly contribute and engage with customers in their chat APP & that every member has a personal account manager, two points that were severely lacking in the company I previously invested with. In approx 3 months I have so far enjoyed just over 23% increase in my invested funds (compare that to banks which are currntly giving .01% a year on savings!)

Drawdown is part and parcel of trading forex and the way it is handled is key. My previous EA used a progessive staking martingale style system when a trade went into drawdown in order to trade out sooner rather than later which results in a few worrying instances though to date it has always come good, I can't help feeling that as with all things involving martingale a failure is very likely at some point. Prophet do not do this and have a much more sensible and well managed process for dealing with drawdown which is extremely reassuring, as long as you're patient and understand how it all works. I won't say it is risk free, nothing really is, but I feel it's as near as it can be.

I have recently joined Prophet in April 2020 but having been in another EA before this I have experience of the process and what happens in trading.

The system is run very professionally by the team, drawdowns are managed well, there is no martingale system in place, preserving capital as we go.

In response to the review by Nik below, the trades are now coming back towards the entry point and addtional trades have been placed to take profit on the way back to the original entry point.

Overall, great service run by a professional team.

These guys are a joke. I have never seen such huge drawdowns in my life.
As I currently write this (morning of 03-June-2020) their bot is trading EURJPY shorts while EURJPY is literally SKYROCKETING. The first entry was at 119.66 and the 2nd at 120.42 while EJ is at the time of writing this at 121.90!!
The bot instead of adding buys it keeps adding sells. Insane... PIP wise the drawdown as we stand is over 400 pips.

Makes you sick to look at it. I wish I could post a screenshot of the account as I stand to understand what I am saying.

UPDATE (evening of 03/06/20): Drawdown at 500 pips!!

Update 2: (Evening of 05/06/20): Drawdown at 850 pips!

Been with this team since November 5th, after following their business for months before that, considering the idea to invest, after seeing loads of great reviews and me asking lots of questions to who is now my account manager, I decided to join and invest the minimum. Now 5 months later, I have made over 36.5% on my account, 9% this month alone and am so happy I decided to join. The team of admins are so supportive, happy to answer any questions, really care about your money and aim to protect your capital at all costs. The risk management is amazing, for example; the team will shut off the system when they deem the markets to be too volatile due to fundamentals (which could cause slippage between accounts) and the lot sizes used are 0.01 per £500, so your account can easily handle any draw-down thrown at it. Some weeks are slow but nothing to worry about, especially as I haven't had a loosing day since the beginning. I think that its a true 'no brainer' to start investing with ProphetFX.

I have been with Prophet Fx for four months now and am very happy with the profits and service that I have received. They have dealt with the recent turmoil and unpredictability of the markets very well airing on the side of caution as to safeguard their clients funds.
I was looking for low risk, consistent returns which I have received.
I will be adding more money to my Prophet account imminently as I am confident in their abilities and the peace of mind that them trading of my behalf brings.

Been with prophet for 7 months now and think i have enough to write an honest review, Looking at previous reviews of some people it seems them people want everything for nothing, we’ve had a steady few months but things are definitely picking up i’d advice anyone who joins to see this as long term investment not a get rich quick scheme or atleast that’s how i do, the guys are taking great steps forward with this and since they introduced account managers it’s been brilliant, any time i message Nick (my account manager) always get a reply within an hour max and always get helped with whatever it is. From everything i’ve seen prophet staff are truly about the people and keeping our hard earned money safe and earning amazing interest. Great stuff lads !

So far we have made a profit. They are very good at looking after the account and have not placed any trades whilst this awful coronavirus situation is on, shows concern I think for their clients. I don’t have anything bad to say as everything so far in the last 6 months has been all positive. It is a risk as that’s the nature of the beast but for us it has paid off so far.