Ackman Capital Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this AckmanCapital Review.
Ackman Capital Review
Ackman Capital is a binary options robot that allows users to copy winning trades or use the autotrading functionality. There is also a free educational center. The robot says it offers a free demo account with $10 000, but, unfortunately, we could not sign up for it. There is a members-only newsletter with tips how to maximize profits and VIP members area.
Who is behind it?
According to the information on the website, Ackman Capital has two offices – in the US and in the UK, in Liverpool. However, it does not seem that the company is regulated by UK’s Financial Conduct Authority (FCA) or any other regulator, despite the fact that in essence it is providing trading signals, which is considered a financial service.
We could not find any information neither about the developers of the robot.
It seems that its partnering broker is BinaryMate – an unregulated company owned by Suomen Kerran LLP, based in Scotland. On its site the broker says it is an affiliate of Finance Group Corp (FGC). FGC is a company based in Vanuatu and regulated by the Vanuatu Financial Services Commission, but a Vanuatu license does not carry much weight.
Considering the general bad reputation of binary options in recent times, dealing with such unlicensed or offshore companies is extra risky.
Strategy and performance
Ackman Capital promises profits of up to 87% from a single position. This is around the promised average for most binary options brokers and robots, but a promise is one thing and the reality is often another, usually sad.
Ackman Capital claims it uses technical analysis and 6 main forex indicators Bollinger Bands, MACD, Parabolic SAR, RSI, ADX, Ichimoku Kinko Hyo. It also says it uses both technical and fundamental analysis to determine the movement of asset prices.
To the uninitiated, who are usually the main target of such trading robots, this surely sounds impressive, but we could not verify those claims. Furthermore, there is no any historical data or other figures to back the statements on the robot’s performance. Such general talk on no proof usually are used by scam trading robots to attract naive customers and rip them off.
How does it make money for the developers?
The registration on Ackman Capital’s site is free and easy. It automatically links the account to BinaryMate where the minimum deposit is $250. Most likely, the minimum sum to use Ackman Capital’s trading services is the same.
Since registration is free and there is no mention of fee for using the robot, most likely its developers are getting commissions from the partnering broker.
It appears that Ackman Capital is yet another dubious binary options robot that connects to yet another dubious binary options broker. As we already noted, binary options brokers, especially the unregulated and offshore ones, are very risky. Often they are nothing but a scam and rip their clients off.
The lack of historical data and detailed information about Ackman Capital is also a sign that there is something very dubious about it.
The alternatives
If you are an inexperienced investor and would rather copy someone else’s strategy or use a trading robot, there are properly regulated alternatives like Tradency’s RoboX, as well as many others. The copy trading platforms Zulutrade and MyFxBook are also sensible alternatives.
Most popular, however, is the largest social trading network eToro. It is s regulated by the Cyprus Securities and Exchange Commission and UK’s Financial Conduct Authority (FCA) and the minimum investment in eToro is $50. It offers numerous strategies and investment packages, as well as proper historical data for their profitability.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Ackman Capital Review Conclusion
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