All perfectly valid points
@homie, I have some answers to these:
By a sudden drop in the market which the system decides to keep doubling down on expecting it to recover, except it doesn't
I haven't seen this happening yet, although I could always be wrong.
By an unexpected natural disaster, war or political event causing havoc with the markets
Happened in December 2019, see below (your January reference)
By an IT failure with the trading company screwing everything up
Always a possibility, yes
By the system not setting a necessary stop loss.
Stop losses are always set and you can monitor them in the mt4 app. It's possible to calculate your possible/maximum losses on any trade from this. The trades they carry out aren't 'all in', sometimes just a few quid here and there, but multiple times a day they add up. So far they've delivered a profit every day.
By the owners cashing everything in and doing a runner to Brazil
This isn't possible as far as I can see, the company cannot cash anything in, they don't have access to your account. They can trade for you yes, but only in forex, I don't see how they would want to do this (or how they could possibly influence a market as large as forex, which trades in trillions per day) especially when your account copies their own. If they fuck up, they fuck up their own account as well, so it's in their interests not to, especially when they only earn commission when they make a profit.
Do you know what happened in January last year?
Not sure what caused that blip, but there was another one in December just gone, it was the GE results. They shut down trading on the approach to events like these now, and for example the monthly US non-farm payroll results.
I'm not trying to be a smart arse, just realistically trying to figure out where the weak point is. Yes, a natural disaster or unforseen political event is quite possible, and will always happen. I've just recently lost a shitload of money to Neil Woodford's exploits so the caution that Celestial is exhibiting gives me some comfort. Hence why am currently looking at splitting the investment between Celestial and Prophet. The track record of each company is there to see, I have (perhaps foolish) faith that they will preserve their record and keep making profits.