In this review we analyze the automated trading tools from FxMode and we conclude that you should stay away from them.
What is FxMode
FxMode is presented as an automated tool that will allow you to earn money in Forex trading. This tool will do everything for you, so you don’t have to have any prior experience with trading or to learn anything new.
FxMode is supposed to provide you with a totally passive income from financial markets. It allegedly is able to generate thousands of pips per month in profits, which means tens of thousands of dollars with just one standard lot traded.
FxMode is a paid service, you can pay either 295 USD per month or 1,995 USD per year. It is sold by David Vlas and Kirill Radkovich. Is it worth it?
Stay away from FxMode
To be able to judge an offer like FxMode, you either need experience in financial trading or ask for professional advice. Although we are not investment advisors, we have been trading financial markets for over a decade and here is how we see FxMode.
We are pretty sure that FxMode can’t deliver what it promises. Making thousands of pips per month is a dream, but an unrealistic one. Such a performance would make you a millionaire in no time even with a small starting capital.
Should David Vlas really be able to generate thousands of pips from trading, he would already be a multi-millionaire. Would he then be selling his secret for $295 per month? Most probably not.
But what is even more important, is that making thousands of pips every month is impossible in real trading. In our experience such results are pure fiction. You can ask other experienced traders about this to get a confirmation.
By the way, if you read the small text at the bottom of the FxMode website, you will learn that basically all the presented trading results are not from real trading.
We are not familiar with all the nuances of investment laws in every country, but generally speaking, a lot of countries consider automated trading systems as investment services.
This is because these systems make financial decisions on your behalf, they trade for you the financial markets. Therefore, selling of these systems is a regulated activity in most countries.
But we found no information about any license whatsoever that would be granted to FxMode. Its author David Vlas is trying hard to hide is identity, although on one of his pages he left an address in Seattle, WA, United Sates.
And we know that the US regulate the offerings of automated trading Forex systems. So we believe that FxMode is illegal, because it is sold from the US without the necessary license.
If you have any doubts, contact the national financial regulator in your country and ask them about FxMode.
User experience with FxMode
The reason why we are publishing this FxMode review is that one of our readers shared with us their experience with this system. According to this user FxMode is not performing as advertised.
Which, as we have already explained, is not a surprising. When you read the Terms and Conditions of FxMode, you will learn that the company backs off of any promises of earnings and says that it is up to their judgement if they grant you a refund or not. Basically you are at complete mercy of two anonymous guys.
This is another big red flag and a confirmation that FxMode cannot provide you with a passive income as advertised.
FxMode review – The Conclusion
All the evidence is here for us to recommend staying away from FxMode, because it won’t be able to generate you a passive income as its official website suggests. A real user confirmed to us that FxMode is not working.
Making money in financial trading is possible but is not easy. If you want to try it on a free demo, you can do it and see for yourself how difficult is to be profitable.
If you decide to invest real money, please be sure to understand the risks and to have a solid strategy.