All FX sifu sekalian, what do you think about the SIRIX copytrade platform? They are not a broker but a provider for copy trading. I didn't have a pleasant experience with them using my previous brokers. Just would like to check if any of you have had any experience on SIRIX?

Hello DrFx, I have used Sirix on FX Primus about few years back and CM trading about a year back. What I did was i sat down and have a few of the top traders on a watchlist, I assessed them based on duration of trade, duration of account in system, max DD, hit rate and finally profitability. Selected some of the few started copying and then over night some of the traders would just make crazy floats on their trading account. And i remember some of the traders on the system were a little fishy in the sense of they would couldn't be copied or added on the watchlist manually. In the end i figured that it is not transparent enough to my liking as I have studied Sirix before. Trader's over there are not given profit sharing unlike PAMM service hence no incentive for them to be trading properly anyway since its completely social trading.

^^^^^ the above is based on my experience and my POV.

Well my honest opinion about the brokers and investment schemes etc is this, first prevention is better than cure how so? if you have a 100k portfolio running the max one can burn is a 100k now the hard part however is to earn that 100k in the first place.

Hence the argument about my broker hasn't failed be before is invalided why? all it takes is for it to fail once and you are pretty much finished. Regulated brokers in my personal opinion then again are operating within a certain legal framework which are provided by regulators. That doesn't make them bullet proof but better than those who operate without regulations.

I have been around the IB business for some time to understand the root cause of the problem:

1st Ignorance (Relates to individuals when presented the facts will do anything in their power to be "right", trust me being "right" in this industry gets you no where.)

2nd Lack of information/misinformation

3rd Greed

Now I am not a saint neither am I a genius but what I will share with all of my fellow traders is this avoid being in a situation where all these 3 points of the above is present. You will find yourself making better investment decision for yourself and people around you.

I am so tired of watching people falling prey to money games etc. And it angers me further when they use the FX industry to carry out their dirty operations.

P.s: What i meant by being "right" is being stubborn and taking up a position against presented facts.