Forex Lens Forex Managed Account Review

Forex Lens is an international company that offers trading solutions for retail FX traders. They focus on providing support for novice traders. This is done via various services, including delivering forex signals, virtual Trading Room and Managed Account Service via MAM Account.

In this Forex Lens review, we will discuss their managed account solution, analyse the performing results and monitor the overall customer experience.

Forex Lens Overview

Forex Lens is an international company with headquarters in Toronto, Canada and business offices in London, the UK. The company specialises in various trading solutions that aim to enhance the trading experience of novice traders. They’ve become known for their tweak on social trading, the innovative Trading Room.

This virtual environment where traders can join daily, watch educational videos, learn from one another and trade. Additionally, Forex Lens offers a managed account service via MAM and PAMM accounts.

Forex Lens SmartFX Review

According to the information from Forex Lens, Smart FX is a PAMM account traded at ATC Brokers. Our research showed that ATC Brokers is an FX online brokerage registered on the Cayman Islands with offices in the UK.

They are regulated by the Cayman Islands Monetary Authority (CIMA) and The Financial Conduct Authority (FCA). The brokers also use Barclays and NatWest for account custodian services.

Forex Lens’ Smart FX programme is performed via ATC Broker’s PAMM Plus Program. It offers built-in features for risk management, including Position Multiplier and Max Equity Stop Loss Protection.

Smart FX programme is also offered via two other brokers – Forex Choice and Traders Domain. Unfortunately, no further details on this service are provided. We researched the brokers and found out that Forex Choice is registered and regulated in Belize, while there is no regulatory information on Traders Domain’s website.

We think this is important, as the lack of financial regulation is commonly a setback to most potential traders as there is no protection on their funds.

To join the Smart FX programme, clients are required to invest a minimum deposit of 10,000 USD (or its equivalent in local currency).

Forex Lens charge a monthly performance fee of 40% based on the high-watermark structure, a protective approach that disallowed fees on the client’s account when there is poor monthly performance. Additionally, Forex Lens promises full control and transparency over the clients’ accounts.

One thing puzzled us. Our research for this review found out that ATC Broker’s PAMM Plus account, which Forex Lens essentially offers, required a 5000 USD initial deposit and a 35% performance and 2% management fee.

We couldn’t find any information that will explain the added service provided by Forex Lens regarding Smart FX that defines the additional required deposit and charge.

Forex Lens Managed Account Trading Results

Forex Lens doesn’t have live trading results on its website. There are only screenshots of myfxbook account. However, the account doesn’t have a name, and the last screenshot was renewed in September 2020.

The company promise to provide a link when contacting them, but this link is connected only to their forex signal service. We tried unsuccessfully to find the SmartFX account on myfxbook. We did find, however, the ATC Broker’ PAMM Plus account.

The account exists since September 2017, and the overall gain is +37.22%, while the monthly gain is 1.96%. These are certainly not very exciting results, but the drawdown is just 8.65% on a positive note.

Conclusion

Forex Lens have a strong reputation with their forex signals and their social trading services. However, we found it difficult to understand more about their managed account service. The FAQ section on the website predominately covers general questions like what is managed account service, what is PAMM and MAM accounts etc.

Therefore, if you are going to search for a managed account service, perhaps focus on companies specialising in this.

Pros:

► Managed by forex specialists

► Working with regulated brokers

Cons:

► Lack of detailed information on the managed account service

► High-performance fee (40%)

► High initial deposit (10 000 US)