FAQs
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Can I Withdraw My Money and Close My Account any Time I Want?
You can withdraw funds at anytime for any reason by bank wire by contacting the brokerage firm directly. Wires have to be made out to or be transferred to persons or accounts of the same name. Your brokerage account name must match the name on your account. You can stop trading on your account at anytime by sending us an email. You can also call the brokerage firm directly to request trading on your account be stopped.
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Are There Restrictions, Penalties or Rules for Withdrawals?
No, you can withdraw funds anytime for any reason. If you do withdraw, we just ask of you to send us a courtesy email to let us know.
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How Do I Fund My Account?
There are various ways. You can fund your account by bank wire, credit card and moneybookers to name a few.
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How Do I Monitor Trading Activity in My Account?
The brokerage firm will supply you with a login and password. You can monitor the daily activity on your account with this interface as well as generate detailed reports. In your managed account you hold the currencies that make up your portfolio. Unlike Mutual Funds which co-mingle your funds with other investors, a managed account is in your name and all or part of your funds can be redeemed within 2 days.
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Do You Have Access To My Money and Why Do I Need To Sign a Limited Power of Attorney (LPOA)?
No, I do not have access to your money and cannot transfer, deposit, or withdraw your funds except for the fees specified on the LPOA. Your account is set up directly with the brokerage who clears all the transactions and handles all transfers, deposits, and withdrawals. It is necessary for you to sign a LPOA to authorize the brokerage to allow the trader to trade your account.
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What Leverage Do You Use When Trading Accounts?
I use a maximum of 10:1 leverage per trade, but it can vary between 1:1 and 10:1. The average leverage will be under 5:1. Our trading practices allow for the highest possible return with the least amount of risk.
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How Do I Open My Account and Get Started?
Please click on the link and complete the application forms. Opening account takes just a few minutes.
Do You Have a Referral Program?
Yes, please email me for more details. We pay a percentage of your referrals/clients profits.
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Can I Open an Account in The Name of My UK Trust, Partnership or Company?
Yes, any legal UK or foreign entity can hold an account in its own name.
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Is it Possible To lose More Than I Invest?
No, we have checks and stops in place that will close open trading positions long before your account loses all of its value. This is not like an equity account where you are buying stocks on margin.
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Is a Forex Managed Account Appropriate as a Short-Term Investment?
Not really. Even the most successful systems experience periods of flat returns or even drawdowns. Consequently, losses will be incurred for those trading periods. The wise investor will remain steadfast to his/her investment plan and not close the account prematurely in order to allow the account to recover from those temporary losses in equity.
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What Common Pitfalls of Investing Should I be Especially Aware of Before Opening a Forex Managed Account With You?
Forex Managed Accounts are not suitable for everyone in spite of their potentially attractive returns! Risk of loss is ever present. Therefore, unless you are confident it’s appropriate for you, it would be wise not to invest at all. Have an investment plan and stick with it. Investors who prematurely close accounts out of panic and fear when they have encountered a period of flat returns or drawdown, will inevitably experience losses. Patience and perseverance is required to ‘weather the storm’. Forex Managed Accounts should not be looked upon as quick fixes to an ailing portfolio, but as a long term portfolio component designed to help balance overall risk while adding diversification.
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How Much Money Should I Invest Initially in The Account?
Only risk capital should be used in managed forex or any speculative investment. Risk capital is defined as capital that you do not want to lose, but if you did, your lifestyle would not be affected. We recommend that the amount of money you invest depends on your own temperament, financial goals and risk tolerance and should usually be approximately 10% to 25% of your overall portfolio. There is a $3,000 USD minimum to join this scheme. (This will rise shortly)
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Do I Have To “DO” Anything After I Set Up My Account To Trade?
No, you can sleep, work, play golf, go on vacation, or whatever you choose. Your account will be professionally managed 24 hours a day until you instruct us otherwise.
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How Are Forex Managed Accounts Traded?
I use software provided by the brokerage to trade/manage multiple client accounts as one account. The “next generation” PAMM (Percent Allocation Management Module) distributes gains, losses and fees on an equal percentage basis. In this way all individual accounts regardless of size obtain the same percentage returns.
