I was quite surprised to hear of this, but nonetheless I’d like to congratulate the GalleonFX crew for achieving this distinction. I hope they keep this performance level up because my account is sure liking it :) Here is a copy of the e-mail they sent out to members:
In the November 2007 Issue of Currency Trader Magazine, Galleon is Ranked as the number 1 performing Managed Currency account for the month of September
The ranking shows Galleon out doing the competition by a long shot which we expect to be seeing more of.
The data Currency Trader Magazine is drawing on was taken from the Barclay Hedge database of funds to which we recently started submitting our results to.
Keep in mind that the other top 10 managers ranked on this page nearly all have minimums between $50,000 and $100,000 while at the time of this posting, Galleon is still currently offering a $1000 minimum.
Though our performance has been rocky this year, more recent changes, we feel, have stabilized our systems for more consistent returns. Our October 18.2% month should also get us ranked in the next issue of this magazine and if we can maintain our current November momentum, we are good for another month as well.
At this point, being one week into November accounts are hovering between 3-5% for the month of November with a good chance of a breakout before the month is over.
Below you will find an excerpt of page 34 from the November 2007 Issue of Currency Trader Magazine which can also be found at (http://www.currencytradermag.com).
Currency Trader Magazine recieves their data from Barclay here: http://www.barclayhedge.com
Now that we have been submitting our results for public ranking, we expect to be ranked in such publications more often
Those parties interested in joining GalleonFX should know that their $1000 minimum account size offer will be valid only until the end of this month!
Hi everyone. In a previous post I mentioned that GalleonFX (a popular provider of Managed Forex Accounts) had a special going on where they would let you open up an account with them for just $1000 instead of the usual $10,000 or $25,000. Well, I have good news for those of you who wanted to get in on this opportunity but for whatever reason missed the previous deadline which was Oct 31’st.
GalleonFX has decided to extend this special offer for one more month; yes, that means until the end of November. It appears a lot of people requested the extension of this special offer.
Now let me update you on how my personal account has been performing. I opened my account about a week before the end of Oct, and from that time until now my account is in profit roughly 15-20% ! Overall the “USD Account was up about 75% in September. Then 18% in October for a total of 93% gross in just 2 months” Impressive results no doubt, but to me astronomical gains aren’t as important as consistent results, and from that perspective a bit more time is needed to sort of flush out how consistent GalleonFX’s automated trading strategies really are. The reason I’m saying this is that back in July and August they’ve made some adjustments to their trading strategies so naturally it will take some time to see how the adjustments affect performance in real market conditions over an extended period. If the adjustments prove to be profitable with real money then naturally they’ve proven their success, but until then don’t get all worked up about the high returns just yet.
Still I think GalleonFX presents a good opportunity, especially to small investors who wish to get a piece of the “managed forex accounts” pie. Typically this arena is NOT for the small investor. If you do intend to open an account I would mildly suggest that you not open it with just the minimum; maybe $2000+ would be a bit “safer”, but so far the drawdowns haven’t been too exaggerated.
Oh and before I forget, here are the official performance results for October:
That’s all for now.
Well folks, I decided to “bite the bullet” sorta speak and went through the arduous procedure of faxing paperwork and proof of ID and all that other fun stuff. I funded my account via credit card so hopefully FXCM will be efficient enough to activate my account BEFORE GalleonFX’s deadline of Oct 31’st. I am told that the whole procedure takes 3-5 business days so I think I will make it in time.
For those interested I opened a USD CM25account even though GalleonFX recommends EUR due to the decline of the USD. Being Canadian I decided to take advantage of the strength of the CDN versus the USD, but converting CDN to EUR is not advantageous right now, so the logical choice for me was to open a USD account. Maybe later on if I like GalleonFX’s performance I will open a EUR account as a hedge and maybe increase my account sizes, but for now I am curious to see how GalleonFX performs in the next 3-5 months.
Anyways, that’s all for now. All interested parties can visit GalleonFX’s website at:
I just received this e-mail from GalleonFX. The gist of it is that the $1000 minimum opening balance requirement will soon end in about 12 days. I am still wrestling with paperwork but I hope to get in by the time they close this offer. Before you jump the gun I’d strongly suggest you visit their site and do some research or maybe look at other Managed Forex Account offerings, but I kinda doubt you’d find anyone else letting you get in with the puny sum of $1000.
The GalleonFX website can be perused at the following URL:
E-mail from GalleonFX staff follows below:
Dear Clients and soon to be clients,
We’re up about 5% for the month as of October 18th. Our improved exits are continuing to preform in an outstanding fashion allowing us to continue capturing more gains as the dollar continues to weaken.
Keep in mind if you are not already a client….. that there are only 13 days left in October to take advantage of our $1000 minimum initial deposit. No Catch!
If you have investigated other Forex Managed Account services, you would know that average minimums are usually around $25,000. Out of the reach or more average investors.
To be able take advantage of our advanced trading systems with only a $1000 minimum is an outstanding opportunity, and for convenience of funding, our brokerage firm, FXCM allows you to charge your initial deposit to your credit card. Getting involved with a good managed forex service has never been easier
At the beginning of this month we were allowing $1000 minimum deposits with a “catch”. Not anymore. Now there is NO catch.
You can now open and fund an account quickly and easily by visiting our website, logging in following the directions on our Open Account page. The process may only take 20 minutes to complete and if you follow the directions exactly your account can be opened and funded within 3-4 days.
Though this year has had it’s rocky times, some client accounts are up near 60%.
You may also want to keep an eye on the Currency Manager Rankings put out by Barclay Trading Group to whom we recently submitted our trading reports. We should be ranked among their top 10 when the new rankings come out next month. Just for reference, if you take a close look at Barclay’s top 10 currency managers, they usually have minimums in the $100,000 range.
Many of the best money making opportunities are only available to the rich and elite. For the next 2 weeks, now anyone can have such an opportunity while our minimum is still $1000 to get started
I have some great news for those of you looking to invest in a managed FOREX account (aka “MA”). GalleonFX, a prominent provider of managed forex accounts, has just decided to lower their minimum account size from $25,000 and $10,000 down to just $1000. I was quite surprised when I heard about this and I most certainly intend to take advantage of this.
Those of you who have no clue what a “managed account’ is should read this below:
Investopedia.com (a great resource btw, so go read it now!) defines a “Managed Account” as an investment account that is owned by an individual investor and looked after by a hired professional money manager. In contrast to mutual funds (which are professionally managed on behalf of many mutual-fund holders), managed accounts are personalized investment portfolios tailored to the specific needs of the account holder.
In this case GalleonFX trades on the FOREX market on your behalf.
Their main brokerage firm, FXCM, allows people to quickly and easily fund accounts by credit card. So there is no waiting for checks to clear or problems dealing with the hassle of confusing bank wires.
P.S. This offer is valid only for the month of October!!
To take advantage of this limited-time opportunity visit this link: