Demo
Q: How long does
the Forexsites System Selector DEMO account last for?
A:
Demo, or practice accounts have a 30-day limit. After the 30-day expiration you
can apply for an additional demo account, if needed.
Q: Does the DEMO
account have the same functionality as the LIVE version?
A:
The DEMO account restricts the number of trades that can be placed and it also
has only 1 mode of money management, not 3. Also, in DEMO mode, trades will not
show the Stop Loss or Target Point to avoid signal misuse.
Live
Q: What if I want
to execute a manual trade in addition to Auto-trades?
A:
In LIVE trading you are able to open manual trades in addition to auto-trades.
These will be labelled as “manual” in the System column on the Auto-trading
software.
Q: How many signals
can I choose from to trade in a LIVE account?
A:
There are currently over 100 system/pairs in the LIVE account version.
Q: Are
performance figures realistic to what people are getting on their LIVE account?
A:
There are many LIVE clients trading these systems, the performance figures are
regularly checked to ensure they are aligned with LIVE trading account
performance.
Performance
Q: Do the
performance figures include swap values?
A:
Yes, they include the swap rates.
Q: Why are some
pairs showing less profit than other pairs with same number of pips?
A:
This depends on the pip value of the currency pair in question.
Q: Which is the
best system to trade?
A:
This is left to the discretion of the client, Forexsites System Selector
provides comprehensive tools and trade history for a trader to make informed
decisions regarding various investment choices, but this does not constitute
investment advice.
Q: Since this is
server based, how reliable is the technology? Is there server redundancy?
A:
Forexsites System Selector partnership with Tradency provides extremely stable
technology, which includes backend server redundancy.
Q: How can I view
my Forexsites System Selector trades?
A:
You can view your trading signals via 2 methods:
- A web-based viewer where you can
access your account from any PC connected to the Internet, without the
requirement to download any software. This means you can view your trades
anytime, anywhere on any PC.
- Through the FXCM tradestation.
Fees
Q: What are the
costs for the signals and trade execution? Are there any other hidden charges?
A:
Live account holders pay a 1 pip commission per round turn in addition to the
broker spread. For example, $10 on 100k Standard-lot, $1 on
$10k Mini-lot. There are no other charges for signals or platform
rental.
Q: Does the
performance figures include commission?
A:
No, the performance does not include 1 pip commission per round-turn trade.
Q: When is the
commission charged, at end of month or at the end of every trade?
A:
The commission is applied when the trade is closed.
Money Management
Q: Can I set
leverage with your platform, what if signal provider wants to buy $100k but I
only want to open $10k?
A:
The client sets the leverage for each currency pair to their requirement, the
signal provider only sends the signals, not a suggested lot size, a client can trade from $10k lot upwards for each pair they
decide to trade.
There
are 3 Modes of Money Management:
- Fixed
- Fixed Fractional – Fixed Account
% Risk per trade on Principal.
- Fixed Ratio – Increases or
Decreases lot size dependent on Account Balance.
Q: Can I trade
various modes of money management in the same portfolio?
A:
Yes, you can have Fixed Lot, Fixed Ratio, and Fixed Fractional settings in the
same portfolio. Each chosen strategy can have its own unique money management
settings.
Q: When I have an
open position, what happens if I disable money management for a signal
provider? How will the trade be handled by the system?
A:
If you remove a signal provider from your portfolio, any open trades will be
closed off when the close order arrives, but a new position to open will not be
executed.
Signal Providers
Q: Can I trade
any signal Provider I like?
A:
Only signals providers integrated and listed on the Forexsites System Selector
platform are available to auto-trade.
Q: What does Max
DD mean in the signal provider list?
A:
It stands for Maximum Drawdown. It is the largest peak to valley drawdown for
that particular strategy pair. This figure can be used for evaluating potential
risk.
Q: How can I
check the signals from my chosen provider?
A:
You can open the signals tab on the platform to view signal history.
Q: Is there
anyway for us to know when new strategies are added?
A:
One advantage of trading with Forexsites System Selector is that you will
consistently be updated with new strategies that emerge.
Administration
Q: How do I get
started, what is the process and how long does it take?
A:
Open and fund an account with Forexsites System Selector and you can be
auto-trading in 24 hours.
Q: Can I stop
Auto-trade at any time?
A:
Yes, you can close all your positions and disable your portfolio instantly. You
have the ability to completely control your account at all times.
Q: Can I manually
close or change the stop-loss or limit values?
A:
Yes, you can close or modify an auto-trade signal, however it will be
readjusted again if a new modify order is placed by the signal provider after
the client adjustment.
Q: Does the
platform need to be connected to the Internet permanently?
A:
No, all trade signals are executed on remote servers. Therefore, it’s not a
requirement to keep your computer running for trade execution on your account.
The only times you are required to be connected to the Internet are when you
initially create your portfolio and set your money management settings, to
check on the performance of your account and adjust your portfolio as needed,
and when you manually intervene in LIVE trades.
Q: Who has
Forexsites System Selector partnered with?
A:
Forexsites System Selector has partnered with FXCM, and Tradency. This
partnership brings strength from multiple sides creating a synergy between
broker, education/support, and technology.
Execution
Q: How do I know
when a trade is opened and closed on my account?
A:
We will send you a notification alert to your email address, this alert can be
forwarded to SMS if you are using an email to SMS supported email provider.
Q: Does your
platform support multiple strategies in parallel?
A:
For example, what happens if Provider A is short on EUR/USD and Provider B
tries to place a long EUR/USD trade? The auto-trading platform will recognize
signals from multiple signal providers and hedging is used when necessary.
Q: If I close an
auto-trade, when the signal arrives to close the trade, will it then put me in
a new open position?
A:
No, signals to open and close are distinctly different, if you manually close a
trade, no position will be taken when the close order arrives.
Q: If I want to
trade LIVE with Forexsites System Selector what broker do I trade with?
A:
Forexsites System Selector is partnered with one of the leading Forex brokers
Forex Capital Markets (FXCM).