1. Minimum Acc : 2. Broker digit : 3. Leverage : 4. Manager Fee : 5. Duration : 6. Estimation ROI per month : 7. Type of Management : ( PAMM or Direct Control Your Account ) 8. Myfxbook sample account: 9. Description of your trading strategy :
1. Minimum Acc : 500 USD 2. Broker digit : 5 Digit 3. Leverage : 1:500 4. Manager Fee : 30% of net profit 5. Duration : 1 month 6. Estimation ROI per month : 60% above 7. Type of Management : Direct Control Your Account 8. Myfxbook sample account: https://www.myfxbook.com/members/ForexSeeker/i-kill-you-later-2/28333 9. Description of your trading strategy : Scalping combine with martingale lot size. SL : 30 pip (170 USD). Demo tested 8 month with average ROI per month around 100%
Ya, good idea too. Demo FX manager will charge 20 USD per month. But please exclude the Abritgate Genius EA that use 2 broker tactic.
Do you think the power copy trader software will able to follow up the demo EA execution so my real account will gain ? Can the real FX Manual Trade Manager share their experience about using power copy trader software for managing multiple account. Any glitch or unexpected error of execution ?
Correct me if I'm wrong but I think I am the only manager who's got a profitable track record for the past three years on myfxbook.com. I don't take retail clients anymore unless by referral. The majority of the retail clients don't have the patience nor the right profit expectation, neither do they understand the inherent risk associated with the trading of any type of paper.
1. Minimum Acc: $25,000 2. Broker digit: 5 3. Leverage: 1:10 to 15 maximum leverage on average. 4. Manager Fee: 20% Performance with HWM 5. Duration: No lock-in period but understand investments are for the long haul 6. Estimation ROI per month: 5-10%, no guarantee. 7. Type of Management: PAMM 8. Myfxbook sample account: https://www.myfxbook.com/members/cateful/jz-prop-account/33662 9. Description of your trading strategy: global macro, discretionary, 100% manual.
ForexSeeker posted: Wow... PAMM account require so many capital from investor ? I see many PAMM setting only require few hundred USD to join.
What broker of PAMM account you setup with ? The leverage also so low.
1:10 is already mighty high and institutional clients look for 1:5 some even 1:2 and below.
$5,000 was the minimum. And now since I don't take retail clients any more I raised the requirement to $25,000 to keep away the smaller clients. I need a bigger capital because I think I deserve an above average pay for the work I put in.
1. Minimum Acc : 5keuros or equivalent $ 2. Broker digit : FXPro ecn, or Varengold 4 STP 3. Leverage : 500 or 200 (varengold) 4. Manager Fee : 30% depending on amount invested 5. Duration : 1 month 6. Estimation ROI per month : 15% 7. Type of Management : Direct Control Your Account 8. Myfxbook sample account: https://www.myfxbook.com/members/yoorforex/yoorforex1/31416 9. Description of your trading strategy : Salping, trending, averaging, grid, hedging Own engineered ea (not commercial) Tp between 4 and 30 pips Sl around 135 pips (the ea does not wait SL to be touched in most cases)
Guys, in most countries it is illegal and a criminal offense to advertise for retail forex clients unless you have a license from the relevant country's regulator. This usually means where you are based but there are exceptions.
If you're based in France, for example, you need to contact the Direction des Agréments, des Autorisations et de la Réglementation to establish an exemption unless you are already registered with https://www.banque-france.fr
In Malaysia you need to be a Licence Holder as provided under section 77 of the Capital Markets and Services Act 2007 at https://www.sc.com.my with the Securities Commission Malaysia.
On a general note it is not sufficient that you are an IB for a regulated broker who may be a Futures Commission Merchant or a member of the NFA or any other such governing body which may or may not be local to you. The test would be if the people - the people posting here - are ADVERTISING? It would be my contention that this thread is clearly advertising.
I mention this because most of the people open for business here may not be aware of the law. If you disagree with my opinion then please feel free to contradict me, state the class of client you are aiming to attract - as Fill or Kill (cateful) did - or state your relevant authorisation or exemption and the country or countries you are aiming to attract clients from.
Time is more valuable than money. You can get more money, but you cannot get more time.
Your statement did bring up a good discussion about the forex market activity. Glad that someone has more experience join in to explain more about the approach of management.
Well, me is very new to Forex market. But I think Malaysia did not recognize or approve Forex as a business in this country as it is a high gain high risk investment, so there are no advertisement in public media. So is consider your own risk investment if you involved thus it did not approve forex establishment company. As then there is still some branches of Forex company in Malaysia, is just that they marketing is low profile not in public. The activity just going on through social connection.
So since myfxbook is not found in my country, so If I public advertisement in internet will not consider as having activity of business in Malaysia rite ? Myfxbook is a social forex network portal for discussion and sharing information.
I also wonder, if I setup FX manager web page to get retail forex client from all over the world. Is it consider illegal activity ? Well if we do not sign any document and the managing basis just base on trust, there will be no legal documentation that can bring up a legal case. Even the client complain that you loss all his money, the will be no case can bring up to court as no company registration, no paper sign, investment beyond country, just personal email record only.
I think there will be an issue if you get mass client that have no idea about forex in your own respective country, and after you lose their investment they go public and ask help from government, then you will be in trouble.
And the law enforcement activity that go hunt any illegal investment in all country is zero rite ? Action only taken if there is a log of complaint, and as said before hardly any document to log complaint, and require many people report being feel scam from your investment promise.
So the question is, is there any law of internet business ? Do they apply same to all country ? I think obviously no rite ? As I'm still very new on internet business only have some common cents, so if anyone has common dollar please fill in my pocket.
I tend to agree with you......you may be breaking the law in some countries, but I believe these things are impossible to prosecute. By way of example, I don't trade your account......I am a technician. I hook up a robot to YOUR trading account(I say this by way of example.....I am no longer in the managed FX business).
I also think that in many countries, the laws govern the receipt of funds ie you need to actually be given direct access to the funds. Since you are paying your money to a licenced broker, I think they would have a hard time proving anything. As to people that simply wire funds to the traders' account, well, its too bad they don't have a cure for stupidity(actually they do.....its called experience). At least sites like this promote education, so that people can learn that there are facilities that will prevent outright fraud, such a PAMM accounts.
I have zero respect for the various 'financial regulatory' bodies worldwide. They do NOT protect the average investor(and that includes the UK) so screw them. I believe they amount to nothing more than, either a taxation, or an 'old boys club'. And, yeah, I would say my point of view has been jaded by past experiences, one of which was UK based, so I know useless when I see it.
And lets face it, qualifications does not make a good trader.......I can offer my provident fund as proof of this. The pros managed to lose 44% of it in 2008.
As I never use PAMM or let other manage fun before. I have some question about the losing month fee calculation.
Let said I invest 1k USD in my account, then give to a FX manager trade. End of month it lose 400 USD. No fee paid. I top up 400 USD next month, and the FX manager able gain balance become $2000 end of the month.
So that net profit earn this month is $1000.
Do manager fee on this month base on $1000 or will minus last month loss of 400, base on $600?
If the customer withdraw out this month and wait after 2 month join you again, do you still give the privilege to minus back the loss of 2 month again from this month net profit ?
How does the legal professional FX group handle this kind of issue ?
Look like I should charge $50 handling fee in advance, If got profit , $50 will rebate back from manager fee.
If loss , I still get $50 for labor setup fee. Well for unknown and nobody status of me probably have to base on your deposit to calculate net profit so there always a win-win situation to keep both party happy.
I do agree i have to go through extensive sec, ctfc and ftc regulations and agreements every year to keep my manager position open and there are no disclaimers any where mentioned from any of these managers. I dont advertise people just come to me. So it does make it easier but you must be real careful as an individual trading other peoples money. Being setup with a corp trading acct and managment will protect you and your assets if something bad were to happen.