Don't Waste Your Time and Money!
For those interested in signing on with Eminence Pro, or Eminence International please read through my experience below before making your decision.
1.Onboarding: Onboarding went well and the set up was straightforward. They are very fast to getting you to pay your initial deposit and set you up with your monthly subscription payment. However, I was told I would have a dedicated person for my account. This was far from the truth as I was passed from one person to another and never had a dedicated person set up for my account.
2.Performance: At the time I entered into the company, they were boasting results of 8-10% monthly gains. However, this was far from the truth as this was based on 2 great 50%+ months they had earlier making their average appear higher. The company had to recently decrease this claim as their algo strategy cannot boast this performance. Currently, people are struggling to even cover month payments, let alone recover their initial downpayment. You must run at a high risk setting than the master, however, as everyone encountered in November this is incredibly dangerous because the Eminence team can change their settings at any time without any communication.
3.Communication: One word, ABYSMAL!! When trying to reach out to anyone, it usually took several days to receive a response, and the response was a canned response not answering any of my questions. I even tried reaching out to their WhatsApp, cell phone and telegram support group and I was met with non-response. There was a time where my account lost connection for 2 weeks due to not being able to receive a response from anyone to fix the issue. When it came to the major incident in November, the support team was nowhere to be found and was completely overwhelmed by the major issue the algo glitch caused. There only form of contact with the community is through a telegram channel that they post to maybe once a month. Otherwise, you are in the dark. At other companies like this one, there are community channels, support calls, weekly trading strategy posts…this company has nothing.
4.Connection: There were several times, where my account lost connection to the master, requiring me to monitor constantly and make sure I could take manual intervention in open trades. There were also several times, where I had active trades not closed out and caused losses that I needed to execute manually. This is NOT a hands-off system by any means, so please be aware if you want to still proceed.
5.Trading Team: They claim that there is 24-hour support for monitoring the master account and taking manual intervention if necessary. However, during the November incident where the algo glitched and took 2 large trades at the top of the sequence, followed by a heavy martingale recovery strategy, the trading team let it continue to get us into a very dangerous position. It felt like it took the community to bring the issue to their attention, but at that point it was too late. The trading team then continued to just sit on their hands and not take any manual intervention requiring us to enter a hard hedging scenario to get out of. To even a novice trader, there were several opportunities for us to get out of the situation, but the trading team continued to make bad call after bad call, causing us to all lose a significant amount of money. Everyone lost at least 35% or more of their accounts depending on their risk settings. I would never again trust this team to manually manage an account of mine ever again. I don’t think I have ever been so stressed dealing with an account before. This event was worse that even the Black Swan event with the JPY pairs back in July. And this was NOT a Black Swan event. There was 1-2% move that the algo usually could handle, but it glitched out causing us not to be able to recover.
6. Risk Strategy: While other companies managed risk very well during the election year, the Eminence team said they would do the same,but instead continued to run the higher risk algorithm and when it glitched, essentially ruined this companies’ reputation in the community. We all lost a serious amount of money that will take forever to recover given their current performance.
7. Algorithm: The algo runs on a "Grid" strategy to avoid DD, however, given certain scenarios, it will martingale as witnessed in several cases.
8. Feedback: Please be extremely aware of the current positive feedback. Witnessed several false positive posts and the removal of negative posts. Please trust the current standing negative posts.
Overall, my experience with EP was horrible to say the least. It's not the fact they lost me money, but how they managed their company in an extremely unprofessional manner. Save yourself the money and more importantly the stress and look at other companies.