Managed Account FAQs
What is a managed forex account?
Trade-council.com managed forex & Gold account enables you to have your funds traded by a professional trading team through a limited power of attorney (POA) agreement. You own the actual account, and you may review its performance at any time. The professional traders on the team manage the account and place trades on your behalf - using leverage to place trades based on the goals and strategies defined in our website. There are performance fee of 25% is associated with the account, as well.
Who is the money manager?
Trade-council.com traders (who average more than 15 years of experience) use a mix of proprietary technical and discretionary strategies to identify short-term trading opportunities. Managed account program is focused on the most liquid currencies - including the U.S. Dollar (USD), Crude oil, S&P, Dow Jones, Japanese Yen (JPY), Euro (EUR), British Pound (GBP), Swiss Franc (CHF), Canadian Dollar (CAD), New Zealand (NZD) and Australian Dollar (AUD) - providing investors a pure play option for those looking to diversify into FX & GOLD market.
How do I open a Managed Forex Account account
Read step by step instructions which are available at “open an account” tab, read the customer agreement and Limited Power of Attorney, then complete the application and submit it electronically or via regular mail or fax. Once your application has been processed, a minimum initial deposit of $10,000 is required to fund it.
What is the minimum initial deposit required to open a Managed Forex Account? What is the minimum amount allowed for subsequent deposits?
The minimum initial deposit required to open a Managed Account is $10,000. The minimum for all subsequent deposits is $2000.
How I can fund forex managed account?
1) Bank wires are typically received and credited within one (1) business day.
2) Certified Bank or Cashier's Check are typically received and credited within one (1) business day.
3) Credit Card deposits via Visa and MasterCard are also accepted. For more information about credit card deposits, go to:http://www.forex.com/uk/forex_account_funding.html
Note: It is better to contact us to receive full step by step instructions by email to setup an account with world best licensed broker under your name based on your country
4) Personal or Business Checks typically take 5-10 business days from the date of receipt to clear and be credited to your account. International checks may take several weeks to clear. You will be contacted via email when your account has been processed and your funds have been received and posted.
Where should I send my application?
You can send us your completed application after uploading via directly from the website.
Note: It is better to contact us to receive full step by step instructions by email to setup an account with world best licensed broker under your name
How has the Managed Forex Account program performed in the past?
To view our historical results click performance or history performance tab at www.trade-council.com
How is the performance fee assessed?
The performance fee is assessed monthly and is equal to 25% of any new highwater mark in your managed account. A new highwater mark equals the sum total of net realized profit/(loss), plus the change in unrealized profit/(loss) since inception or the last month end in which a performance fee was paid. However, no subsequent performance fees will be payable until your account has overcome any trading losses being carried forward to achieve a new highwater mark.
What is a highwater mark?
The term highwater mark is used to measure the highest value your account has reached since inception or since the last time a performance fee was paid, if applicable. If your account were to lose money, it must first recover to a performance level above its previous highwater mark in which a performance fee was paid before the performance fees can be assessed again. In other words, your account is protected against being charged fees when the performance of the account falls below the highest previous level. If your account were to lose money, it must first recover back above its previous highest value before the performance fees can be applied again.
Can non-U.S. residents open a Managed Forex Account
YES, but US citizens face many problems to open an account due to new regulation in United States of America but we have alternate ways to accommodate their fund management needs. It all depends on many factors to trade the account of US clients under US trading conditions.
What type of leverage is utilized in the Managed Forex Account?
The leverage utilized in the Managed Forex Account is typically between 1:100 or can be adjusted on demand.
What is leverage?
Also called margin, leverage is the ratio of the amount used in a transaction to the required security deposit.
What is the Managed Forex Account trading team’s overarching strategy?
The Managed Forex Account uses proprietary processes and discretionary trading strategies to focus on some of the most liquid currencies - including the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar, New Zealand and Australian Dollar - and appropriates higher leverage (typically between 1:100 and 1:200).
The strategy of the Managed Forex Account program is to identify short- and medium-term trading opportunities (from a few days to intra-day) in the major currencies traded. This approach can be an attractive alternative to the mega-trend approach (where traders look for one or more mega-trends upon which to base their performance for a quarter or a whole year), particularly during periods with no recognizable mega-trend. Conversely, by successfully identifying mini-trends, the trading team may also take advantage of a large portion of a mega-trend. This entire task in done by applying fixed logics mathematical formulas.
Can I have more than one Managed Forex Account?
Can I have managed account in addition to my self directed account?
Can I transfer money between a Managed Forex Account and my self-directed account(s)?
How often can I deposit/withdraw funds from a Managed Forex Account?
You can submit deposit or withdrawal requests from your Managed Forex Account at anytime like a bank account.
Do my funds receive any interest while they’re waiting to be deposited or withdrawn?
Yes but it based on trading instruments.
How soon after I submit a withdrawal request will broker send me my funds?
As long as they receive your request of withdrawal will typically be processed within two to three business days.. There is no fee for withdrawal requests via check. Withdrawal requests via wire transfer will incur a $25 fee for wires within the United States, and $40 fee for international wires (including Canada).
Is there a minimum or maximum limit on the size of withdrawals from the account? What about the number of withdrawals?
There are no limits or restrictions to the size or number of withdrawal requests a client may make.
Where on the website can I check the balance and/or performance of my managed account?
You can check the performance of your managed account whenever you like by logging in to your account according to the given access from your broker.
Are there any special tax implications that can result from a Managed Forex Account?
For specific tax implications, please consult your tax adviser. In routine way there is no tax on such an income source. International clients are solely responsible for reporting any relevant tax information to their governmental and/or regulatory authority