Rombus Capital is a service that promises to help Forex traders grow their wealth without any professional training through its copy trading and managed account services. As per vendor claims, this company employs highly skilled asset managers who take care of your investments and help you secure your financial future. However, there are a few things we need to look into before we can consider this a reliable service.
Rombus Capital: Characteristics
You need only $1000 to get started with Rombus Capital. It promises average monthly returns of 5-20% and has projected annual returns of 200%. The vendor also claims that the maximum drawdown for the managed account service is 20%, although, after going through the live trading statistics, we are convinced that this is a false claim.
It should be noted that the vendor has not elaborated much on the features that are available with this system. Rather than explaining in detail how the system functions, they have made some vague promises about how the service can help traders amplify their profits.
Now, there are many EA vendors making such vague promises for unproven systems that cannot generate consistent profits. Rombus Capital seems to be one of those services that offer nothing special but charge its users a hefty performance fee.
Currency Pairs, Strategy & Timeframe
Unfortunately, the vendor has not provided any explanation for the trading strategy used by Rombus Capital. We don’t know what techniques the asset managers follow to generate the trading signals. Seasoned Forex traders often look for technical details pertaining to a strategy, and they might be disappointed by the lack of strategy insight.
You can use Rombus Capital to trade in all currency pairs, but we don’t know what timeframe it is suitable for. The general lack of information surrounding this system is a major red flag that will deter many traders from investing.
Rombus Capital Trading Performance
This live trading account on Myfxbook has been active since May 11, 2021. Thus, it has not been trading live for too long, which means it hasn’t had to deal with a wide range of market conditions. At this moment, the daily and monthly gains for this account are 2.16% and 90.61%, respectively, while the drawdown is quite high at 45.42%. This essentially means that the asset manager is following a risky strategy that can wipe out a large portion of your capital within a short period of time.
To date, Rombus Capital has placed 296 trades through this platform, winning 210 out of them with a win rate of 71%. As a result, it has generated a total profit of 42318.41 Euros. For this account, the profit factor is 3.41. We need several months’ worth of trading results before we can form an objective opinion about the system’s profitability.
Backtesting results are not available for Rombus Capital. Since this is not an automated trading system, it is possible that the vendor did not deem it necessary to test it using historical data.
How Much Does it Cost?
There are three distinct pricing plans for the Rombus Capital, namely Retail, Conservative, and Prime. For these plans, you need to make minimum investments of 10,000 Euros, 50,000 Euros, and 250,000 Euros, respectively. It is not possible for small-time traders to invest such huge sums of money at the very beginning.
The vendor charges a 40% fee from monthly profits. This makes the service extremely expensive, and it is clearly not for beginners. Additionally, the vendor does not offer a money-back guarantee for this service, and this makes it risky for Forex traders to invest in Rombus Capital.
Reviews from Customers
There is not a single user review for Rombus Capital on the Trustpilot website. On Forexpeacearmy, there is only a single user review for this managed account service. Thus, it is clear that not many people trust this software for their day-to-day trading activities. The lack of reputation is yet another red flag for a service that has hardly anything positive to offer.
Should You Use Rombus Capital Robot?
|Verified live trading results||High drawdown|
|Extremely high performance fee|
|Lack of strategy insight|
We cannot recommend Rombus Capital for traders, mainly because it has a short trading history and high drawdown. It is an expensive service that requires you to stake a lot of money, and at this price, you would expect the system to have several years’ worth of performance record. Furthermore, the vendor does not even share the details of the trading strategy, which makes it an even riskier investment.