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Currensee

www.currensee.com/..
Category: Websites
Currensee is the first Forex trading social network where like-minded traders can connect with each other and share unique ideas, insights and data based on the actual trading activity of the community. On Currensee, traders can collaborate using live trade data and can share trades and positions with their trading friends in real-time. Currensee is the way to trade together. 
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Don't Go Near These Thieving B******S!
First of all, they charge success fees for successful trades but nothing happens when trades are unsuccessful, which means that, say, you break even at the end of the year according to their figures, but because you got charged for successful trades you have to be doing a lot better than break even to actually break even.

In other words, if percentage-wise you are at 0% you'd think you haven't made or lost anything but you still have to deduct all of the success fees which means you have to be up a good few percents to not make any money at all. Keep this in mind when they tell you how great it is that you're only charged after successful trades.

Secondly, don't even dream of getting accurate and transparent records of your trades unless you log in to several different places and download several files and copy and paste and fill in forms and so on and so forth. Again, the numbers you see on your profile page are cosmeticized.

To give them their fair due, they are quick in responding to emails and explaining why they're taking your money for doing a lousy job.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Volatile Traders, deceiving performance numbers
This box says to give my honest opinion so lets start from the top.

The trade leaders as they call them are extremely volatile, and are not experienced fund mangers by any means. For the most part they are just one guy in China or Eastern Europe that trades a few minutes a day. The most popular trader they have is called Joiny Jiang, it is very likely he wouldn't even pass the smell test for a serious institutional investor. The rest of the trade leaders are cut from the same cloth, one man operations, barely any assets, and volatility that a river boat gambler couldn't even stomach.

This firm claims to have uncorrelated returns, and holds it's self out as an alternative investment opportunity, but in reality there are so many reasons to stay away from this company. The performance number they post are all GROSS of fee's, the spreads are VERY high compared to market rates, and the worst part is the slippage. The performance numbers they post are not only gross of fee's but they are not even returns generated in a clients account- they are performance in the managers account. After the trades get routed and executed in your account, after the slippage, after the management and performance fee's are taken out, you are left with a FAR lower number than they claim. It is VERY unethical and sleazy to post numbers Gross of fee's they haven't even been generated in a client account. There have been incidences where the trade leader made 30% in a month according the firm, but the investor or you the client actually LOST money. They are selling you on over inflated performance numbers to give the WOW factor to the retail investor that has no experience and strives for huge performance numbers.

Their marketing materials show the performance of all their traders versus an index like the S&P, and it shows something completely ridicules like 60-100% a year if you were to be invested in everyone of the traders. Here is where they trick you- they take out managers that they kicked off the platform, so they are showing a historical number that has been fluffed up, and is more deceiving than a back tested pro forma number. On top of not including the managers that were removed, all the numbers are gross, don't include any of the really high fee's, any of the slippage, and it just is there to trick any investor into thinking that he can somehow generate monster returns simply by following these so called "vetted" traders. For example: If 3 months ago you got material showing overall performance of their program was 1% in January, now this month you get the same material but performance for that January is now 8%, because they removed a trader from the platform, and removed his back performance as well. By removing this trader it makes all their numbers look better. Smart institutional investors would not be mislead- retail investors I can't say the same for.

These are not institutional traders and are far from the caliber of an experienced fund manger. The performance claimed by the firm most likely will never be what is generated in your account. The management of this firm clearly knows absolutely nothing about this industry, and is more suited for selling used cars than a self proclaimed alternative investment product. They have no high caliber fund managers to offer, nobody with pedigree, just a bunch of gross numbers, and performance that wan't generated in any client accounts. In my opinion stay away from this place, far far away.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Weathmanager NY, NY

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Needs a lot of work
Ok I will spill the beans here. I've been with Currensee as an Investor now since Dec 12th. And to say the least the performance has been subpar and what they are doing is either misrepresentation of their profits or they have some MAJOR bugs to work out in the system.

This has bee based solely on my experience, for 6 weeks some of you may make the jump and have a great experience. But as always people change when it comes to money, even though I try to separate emotionally from it.

But to keep the story short and simple, I put $30,000 in as my original deposit. I actually didn't deposit the money in until Dec 27th, 2010 and had my money allocated to my selected trade leaders on Dec 29th. In the last 2 days of Dec 2010 I got a nice 2% from Winsor Hoang (the trade leader)

Over the first 2 weeks of Jan I made a healthy 16% on my money and was convinced that this was legit. then on January 18th it seems my account hit a wall. Losing on an average $350 per day, sometimes as much as $1,000. Bringing me down to a modest $2500, left in profit in my account. As I browsed the website 1 day I just stumbled upon one of my current trade leaders profile sites. And he still had a posted 29% return for Jan 2011. I was shocked as he was the culprit behind my major loses for the previous few days. I made a call to Jeff Garcia my only contact at the company, and he had no explanation and said he would look into the discrepancy.

Over the next 2 days my account took a combined $1700 dollar loss and "LW tradings" profile, who I had the discrepancy with, his posted return rose to 35.7% for Jan. So as of now my account has made a combined profit of $344.40 with "LW Trading" having lost me $1718.50 between his two $10,000 allocations. Yet his posted return as of now for Jan is still reflecting 37.8%.

So either they are either falsely presenting their numbers to the public, of they have some SERIOUS bugs to work out in their system. I have filed a complaint with the NFA against Currensee. My recommendation based on my experience in this last month, is to not invest your money now. At the least wait a few months and let the NFA look into my complaint matter and give them time to work the bugs out as you may not be as lucky as me, and could end up losing thousands of dollars if not more.

I have uploaded several screenshots of my Currensee login info to Photobucket for viewing to back up my story.

Also over the course of the last month I did not interfere with my account AT ALL, I did not even trade it myself. The reflected profits and losses are solely the trading of the Currensee trade leaders.

http://s1141.photobucket.com/albums/n588/Bridger_Cottle/

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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i like teaming up with trader
One thing that I really like about currensee is that you can build a team of people, you can pick and choose if you wanna team with rookie or experienced trader and trade together live. it gives you update on what kind of trades are in play , who's playing, etc etc.

i wanna see more features, maybe live charts, quotes, more educational tools and materials.

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Royskidorski puyallup, wa

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Connecting traders with similar styles
Ability to connect traders with similar styles is great. It is a new website/platform/network or whatever you call it so it still has things to work on. Great idea though.

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Nice platform, alot of potential
I'm impressed with Currensee's platform and tools. The ability to connect with other traders from all over the world with similar trading styles is great. The site is still young but is headed in the right direction.

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Displaying 1-6 of 6 Total Reviews
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