I have consistently lost money with them. Here is my take...if you like gambling, this is great for you! I don't believe they have any actual Algo's of their own. What they do is license Algo's from others who create them. They put it on their platform and let it coast..if it does great, you'll see it rise to the top, the poor ones fall to the bottom. You might choose a good one, and then it starts doing poorly, you might choose a poor one and then it might do well. There is zero actual strategy other than luck. The S&P might be 20%, and half their Algo will lose anyway...I basically lost money every month with the exception of 1 or 2, overall this past year I lost about 35%! So what's the point + their heavy buy in fee...don't waste your time. My Recommendation is finding a company that does this better. I DON'T think they are a scam! But they do not do this well, this I can say certainly.
Edited based on the comment below:
I was in Cairo for 4-5 months, Cairo had one good month in April (out of 12, and the rest were lower than the S&P, so if you're a gambler go for it, if you miss that month you've lost money the rest of the year (give or take). Enjoy
Pershing, Falcon V2, V3, Raptor - were all doing great when I joined - and now they are all down and in the red...
So you have 17 Algos, and you're pointing to the 1 that happens to be doing well at the moment, or has had a good streak - even for 4 years...good luck to the investors who picked the 1 out of 17 thats not tanked - or gone flat on average. That's gambling.
I am fine with a 35% drawdown - that happens, markets dip. But 12 months of losses when the market is doing great - is simply a bad system, and bad set of Algos. This is why I don't recommend it - my responsibility is to let future investors know. I'm not angry - just disappointed, and think there are much better ways to make money, and more fun places to gamble! This is neither. I would have been much better with the S&P. It had a great year - while I did not, thanks to you.
17 Algos - 8 made money, 11 lost money (which you don't mention) only 3 beat the s&p! all of them wildly inconsistent = gamblers also win sometimes.
Claim your business profile now and gain access to all features and respond to customer reviews.
Automated Algorithmic Trading Software for the Retail Investor. Trading US Regulated Markets on US Regulated Brokerages.
