Rhombus Capital is a copy-trading service that traders can follow with a minimum of $1000 in their trading account. There are also different packages available for market participants that would like to invest more. They work with a wide variety of brokers.
According to the website, the company is located on Tsimshatsui Centre, East Wing, 66 Mody Road, Tsimshatsui East, Kowloon, Hong Kong. There is no information present on the real developers of the program and their trading experience, which raises many concerns over the authenticity of account management services.
To choose the best trading robot, traders must take a peek at the trading records of those behind the program. If the developers fail to provide any good information on that, it should raise some concerns.
Rhombus Capital Features
Rhombus Capital has the following features:
- Available to copy through a wide range of brokers
- Allows to copy trade with a minimum capital of $1000
- Detailed statistics are available on respective websites
On signal start, the trades can be copied through a monthly cost of $85. Managed account services through one of the designated brokers cost 40% of the monthly profits, which are then sent to the service providers.
How it works
The company states no clear information on how traders can follow their service. Trades can be copied through the signal start, where traders have to pay the monthly cost and attach their accounts on the signal start website. Trades can also be copied through Darwinex, where traders will have to open an account with the broker and select the signal provider within the PAMM sections.
The developer fails to disclose the trading strategy that they are using to trade the markets. On the trading history at the signal start, we can see that they trade on multiple currency pairs and hold trade for an average duration of one day. The positions do not come with a stop loss and take profit attached. No martingale or grid strategies are being employed on the account.
There are no Myfxbook records available to track the trading records. We use the performance statistics on signal start to analyze the service. Live trading results show performance from May 11, 2021, till the current date. Since then, the capital has had an average monthly gain of 86.16%, with a drawdown of 45.12%. The drawdown value is comparatively high, which means that the account losses nearly half of its initial trading value from the start. There were 296 trades in total, with 257.71 lots traded. The expert advisor traded with a winning rate of 71% with a profit factor of 3.41.
Only one customer review is available on Forex Peace Army, which shows that not many traders have tried the system. Traders might be afraid of the big drawdown the system has. The feedback looks as if it has been bought and written by the company itself. We are unable to conclude anything from it.