Smart Forex Expert MAM (Low Risk) (by SFETrading) Quick Stats
Gain: +6.09%
Drawdown: 10.71%
Pips: -50943.8
Trades: 635
Won:
Lost:
Type: Real
Leverage: 1:500
Trading: Automated

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Smart Forex Expert MAM (Low Risk) Discussion
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JosefK

Member Since Feb 28, 2014  26 posts JosefK Oct 07 at 12:11
Some numbers to consider for potential clients.

During the last 60 days investors lost A$9941.

Profit: -A$9588.63
Interest: -A$353.94

Luckily ic marketes pays mam managers high kick back commissions and I am almost certain that jimmy and his friend earned between A$661 and A$992 only from this mam in the last two months.

Lots: 1,226.56
Commissions: -A$1323.94

The issue is that brokers allows such business models and ic markets even allows mam managers to cash out commission at any time. You can read about it here: https://www.icmarkets.com/sc/en/partnerships/money-managers

Numbers are based on custom analyzes. Two months.

SFETrading

Member Since May 11, 2020  76 posts SmartForexExpert (SFETrading) Oct 07 at 13:16
Please get your facts right.

Commissions are charged by the broker, not by us.

If people sign up under our IB they can get discounted commission of $5.50 per round lot traded, IC Markets keeps $5 of that and we only get $0.50 for every lot traded on the accounts under our IB.

But while we recommended people to use IC Markets, it is not compulsory for them to join under our IB - so we won't even get any share of the commission if they choose to join under other IBs.

Also the amount of lots displayed on Myfxbook is not accurate, because it also counts the lots traded on Stock CFDs.

So if you go by the commission charged, then the account has traded $1323.94 / $5.50 = 240.72 lots on Forex pair during the period you analysed.

Then, if the accounts are all under our IB then we would have only earned 240.72 x $0.50 = $120.36 in commission over the 2-month period you analysed. I don't think earning $60 in commission per month is anything to write home about....

Freddy123

Member Since Apr 06, 2017  15 posts Freddy123 Oct 08 at 05:22
SFETrading posted:
Also, we only charge people by performance fee for copying the signal so we don't make a cent if the followers don't make money.


33952 lots traded. If that what you wrote is true, you gained $16 976.00. I would say it the true figure is probably in the high 50s.
IC Markets pays also commission for CFD contracts.



SFETrading

Member Since May 11, 2020  76 posts SmartForexExpert (SFETrading) Oct 08 at 06:51
As I already said, the number of lots traded displayed on Myfxbook is not an accurate measure, because they treat 1000 shares on Stock CFDs as 1000 lots. You will need to filter out only the Forex pairs to see the exact lots traded on Forex pairs.

For example, in the screenshot below, the BA.NYS trade was closed at break-even at 0 pip, and the commission was only -$4.74 for a 65 'lot' trade - which is clearly not the same as 65 lots in a Forex trade.

The amount of commission we receive is only about $0.50/$5.50 = 1/11 of the total commission displayed on the accounts. So take the High Risk account for example, currently the total commission paid is $9451.30, so our share of commission is only around $9451.30 / 11 = $859.21 over the past 6 months...and that's on an account that is $100K in size. The account easily has gains / losses more than that on a daily basis.

So I hope you can see by now that earning commission will never be the main source of income for us. Our goal is to trade profitably in the long term and earn the performance fee that we deserve. smiley

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Mirko42

Member Since Sep 05, 2013  13 posts Mirko42 Oct 09 at 06:31
....eas sold on mql5 based on back tests with 11% history quality




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Calacti

Member Since Jun 17, 2020  28 posts Calacti Oct 09 at 09:24
The gain percentage looks good. Possible through the high leverage I’m assuming.

Lycineandrew

Member Since Jun 30, 2020  16 posts Lycineandrew Oct 15 at 04:48
Things are different in the short term as any system will have the winning streak if it is for a shorter period.

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.