In its latest newsletter, FXNextGen informed its partners, that they got hit by the market. I have rarely experienced such honesty in the industry.
About MySystemX and FXNextGen
Now we also got hit by the market and have to pay the first negative week since July. Unfortunately, this is something which cannot be avoided in the business we are dealing with. The circumstances for that, will be explained in the trading update. Nevertheless, the only way is to look forward and reflect the situation. There are always two possible ways to react in such situations: be criminal and fake figures and pay profit even if there is none or be honest and follow your economical figures, because at the end it’s our responsibility to be able to pay the balance from all clients.
As we had many problems with 2pay4you regarding bitcoin deposits and withdrawals, we applied for a corporate account with a bitcoin exchange and developed an invoicing system. The invoicing system has been enabled today and you are able to deposit via bitcoin directly on our website. If you face any problems, just contact our support and they are happy to help. Withdrawals will be also much quicker now, only for bigger amounts it can take a few days as we always have to buy in several tranches.
At the moment we are bit behind with all the reports, as we are finalizing the work for the annual report for 2017, which may be required by some of you. The creation of child accounts in your back office is in the final stage and will be ready soon. We also fixed a bug for the monthly savings plan payments and all should be credited to your accounts the coming Monday. If you face any issues with the savings plan e.g. not receiving the reminder email, please let us know.
All collateral pool investors received an email this week about the successful placement of the contract. The contract got combined with some external investors and the existing contract we already have. This is the reason why we couldn’t share any profits from the collateral pool in January, but starting again with next week’s payout cycle. With the new contract, we can share more than 4% every month, which is the biggest piece of the monthly profits beside our balanced trading strategies.
A week with a very good start and already almost 1.5% until Tuesday, but then the big hit from the market and at the end a negative week, the first time in our history. The reasons are very easy to explain, a few technical problems with the trading infrastructure and wrong parameters connected to certain currency pairs and last but not least a wrong risk management. This means we were not following our strict rules and were blinded by the good profits generated so far. This is something we cannot excuse and we already reflected the situation to avoid similar things in the future. We are 100% sure to get everything back and show a good performance in February, together with the profits of the collateral pool we want to reach up to 5% by end of the month.
If you enjoyed the first update in 2018, please share it on social media channels. Thx!
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Past results are not an indication of future investment results/profits. Individual results may vary due to different market and time conditions. Forex trading is a risky investment. I do not give any assurances for profits. Shown income examples are always individual examples for presentation on this website.