What is a managed Stocks/Forex/Commodities account?
TopFundManagers.com managed Stocks/FOREX/Commodities account enables you to have your funds traded by a professional trading team through a Limited Power of Attorney (LPOA) 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 on our website. There is a performance fee of 30% associated with the account, as well.
Why should I open a managed Stocks/Forex/Commodities account?
We are not sure you should do that. Only you should make that decision after careful consideration of how such an investment vehicle fits into your overall financial management plan.
Why should I open a managed forex account with your company?
Again, we are not sure you should do that either. There are other options in the marketplace and while we believe we offer a very sound program, considering potential profits, risks, system stability, broker, etc, only you can determine if our program is right for you.
What size account must I have to participate in your managed account program?
We are currently requiring only $10k USD or EUR to participate.
Can I opt out of the program at any time?
Yes, it’s entirely up to you as to how long you stay in the program.
Do I have 100% control over my account?
Yes, you are the only person who can deposit or withdraw money from your account. The broker will withdraw our fees on a monthly basis, but otherwise you have complete control.
What does your program cost?
There is an administrative fee of 2%/year, allocated monthly, and a 30% profit performance fee also allocated monthly.
What profit should I expect?
Based on history we would expect returns to be about 5%/month.
Is it possible that I can lose money?
Yes, certainly you can lose money. No one can predict the market and past performance is no guarantee of future success. We suggest you trade only with money that you can afford to lose.
How do I get started?
Simply go the tab “Open Account”, and follow the instructions.
Who is the money manager?
TopFundManagers.com traders (who average more than 15 years of experience) use proprietary, advanced, quantitative/mathematical strategies to identify short-term trading opportunities. The managed account program is focused on the most liquid currencies/equities/commodities – 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 and GOLD market.
How can I fund my 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 set up an account.
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.
How has the Managed Forex Account program performed in the past?
To view our historical results click “Performance” tab at www.TopFundManagers.com
How is the performance fee assessed?
The performance fee is assessed monthly and is equal to 30% 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 are not accepted at this time.
What type of leverage is utilized in the Managed Forex Account?
The leverage utilized in the Managed Forex Account is typically between 1:100 and 1:200.
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 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.
The strategy of the Managed Forex Account program is to identify short- and medium-term trading opportunities in the major equities/currencies/commodities 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 logic 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 is based on trading instruments.
How soon after I submit a withdrawal request will the broker send me my funds?
It 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 processing fee as prescribed by the broker.
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 broker.
Are there any special tax implications that can result from a Managed Forex Account?
For specific tax implications, please consult your tax adviser.