Cash Monsterz Review
A Review of Forex Asset Management Services: CashMonsterz
Today’s review is a bit special, because we have a chance of looking at the services of a forex asset management provider that has been in business since the online retail forex revolution started in the mid 90s. There is a popular saying among the people of a particular country in Africa that “a crook never visits the same town twice”. Well, CashMonsterz has not only visited the same towns (countries) twice, its internet presence means it virtually visits all the countries of the world all the time. Let us see if this has rubbed off on the way clients view their service.
CashMonsterz
CashMonsterz is the forex asset management service of CahMonsterz Investment Club. CashMonsterz has been in business since 1996, which speaks volumes about the quality of service rendered by this provider. In the financial services industry, it is difficult if not impossible to be in business for 16 years if clients are dissatisfied. The feedback available for this provider of forex accounts trade management and forex signals services is provided by expert traders who have used ForexNA’ services for a number of years, which is more than enough to be able to gauge the performance of the service provided.
The strong points of this provider are as follows:
Service Delivery: Signals are delivered using emails, Yahoo messenger and text messages. This gives traders fast access to signals for timely executions. The Messenger option is especially handy for clients whose telecom providers are not on the list of operators compatible with the SMS service on which the signals are sent.
Customer Support: Almost all feedback left for this provider in the area of customer support is positive. Clients attest to the fact that the customer support department is available for clients to solve technical issues and have various inquiries answered on demand.
Forex Signal Services: This is perhaps strongest point for this provider. There are several positive feedbacks left by subscribers to the forex signals services of CashMonsterz. Even where reviews have been less than complimentary, some traders have admitted that it was their own errors that contributed to any losses sustained.
Cost: The main comparative cost advantage that users of CashMonsterz services have is that subscribers can actually get signals for free when they open accounts with FXCM, the forex broker with whom CashMonsterz has an affiliate partnership. The provider is compensated by the forex broker for trades, but this does not affect traders negatively in terms of conflict of interest because the provider recognizes that only profitable traders can stay in the system to generate spread income. This is a great value for subscribers; everybody wins in this symbiotic relationship.
Forex Managed Accounts Service: The feedback left for the second component of this provider’s services has been more positive than negative. An analysis of some of the negative reviews reveals that some clients have unrealistic expectations of having their accounts doubled every month. The most satisfied clients are those who expect realistic return on their investment. There are however a few cases where accounts were subjected to genuine bad trades.
Putting all these factors together, we will award CashMonsterz a rating of 3.5/5. We will like to see some improvements in the profitability ratio of the managed accounts service, as well as increase in the ratio of satisfied to unsatisfied clients. One way the company can achieve this is to clearly spell out realistic profit expectations for clients to follow.
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