The Flaws In FXStat
Originally posted by uniquetraderI have used fxstat autotrade service. I am planning to change to managedbook.
What is managedbook and what differences does it have from tradebook? I'm kind of confused here.
Fxstat has two kind of features for followers. 1) Tradebook and 2)Managedbook. 1) Tradebook is when you pay per trader you can see commisions here http://www.fxstat.com/autotrading/prices.(Gains & Looses you always pay). 2) Managedbook is when you pay a commision by earns. 20% commision. The advantages of Managedbook is that you pay only if you get gains and if you get looses you won't pay commisions until the Trade Leader give you all your money back. if you want this kind of feature you need open an account at Varengold Bank of ADS Securities LLC, and they will give you the platform. you can see my website here www.getmorepips.net
Thx mikjurado , managedbook seems like an interesting option. And from those 20% commisions how much do the trader gets?
Trade Leader get 15% and fxstat 5% (20% of gains)...
Those are monthly commisions right? So if a trader got me a ROI of 30% in March , i have to give back 20% out of those 30% ?
For example you start with $1000 and in april you win $350 then you need to pay 20% of commision of $350 ($70 in this case). I don't know how is the way that varengold or ads securities will make you pay the 20%.
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wow but are these commissions not on the high side.
Yeap commissions are high , but this scheme is very interesting. Could someone who uses this managedbook give us a feedback please? Also i havent seen managedbook on the Ads secutiry website
http://blog.fxstat.com/index.php/2011/10/21/fxstat-headsup-launch-of-new-automatic-trading-service-managedbook/ here you can find information about managedbook, the problem is that managedbook has another platform given by ads securities or varengold.
Thx mikjurado , you mean in ads secutiries they have another name for fxstat managedbook?