In August 2016 my up line Michael convinced me to invest in FXUnited. His Malaysian and so was I but I’m now an Australian working in China. I moved my $20,000 capital from TriumphFX (I was investing with GMTrader.com using TriumphFX as a broker) to FXUnited.
The movement of capital I chose was bitcoin. Now bitcoin is a crypto currency that is popular because it is transaction that is fast, and unregulated. This means people can move money around the world between countries without regulation since some countries just using the internet.
The first problem I experienced with FXUnited was the processing of incoming bitcoins into my account did not take minutes as it typically does in other accounts supporting bitcoins. It took days. It took nearly 4 days for it to clear. This is an eternity in the bitcoin world. This delay would symbolize a recurrent theme that I will keep experiencing in FXUnited: Delays.
It has been said among other investors of FXUnited that “we only care that our capital is safe”. I disagree. I think the ability to move funds in and out of your account in a timely matter does matter. If your capital is safe and it takes too long for you to enjoy the profits it earns or to retrieve your money to put it in a better opportunity then the saying only has limited value.
Later we will examine these other “recurring delays”. The delaying theme will be revisited in varying styles.