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What is the minimum deposit requirement?
The minimum deposit is $500.00. There is no maximum limit.
Will Strategic-FX have access to my money?
No, your money will be held by FXCM in the name of your choosing. You will authorize Strategic-FX to only trade your money from a master merchant account.
May we have more than one account with FXCM?
Yes, you can have more than one account with FXCM.
Can I self trade the account if it is managed by Strategic-FX?
No, if the account is being traded in the Strategic-FX pool, you may not self-trade that account.
What activity will we see in our accounts?
You will see the currency pair that was or is being traded, their profits/losses the time stamp and the roll. You will not be able to see if it was bought or sold, or the price that was paid.
Will the Chief Trader, Devrim Akyil, communicate with me directly?
No, communications with Devrim will not be available. This is done to allow him to focus on trading, this best serves everyone. Any questions or comments you have may be made to Strategic-FX directly info@strategic-fx.com
How will we communicate with Strategic FX?
The preferred communication choice is email, as it is easier to effectively manage. Each time you communicate with us, your email and our email reply will be stored in its own personal file on our virtual server.
We respectfully ask that if you would like to talk to us, please send an email, and we will call you back as soon as we can. Initially, the only language that we can offer via phone call is English. If you wish to leave us a message you may by calling 1-888-830-3239.
Will there be any other fees besides the 30% profit share?
Any transaction fees from FXCM will be deducted on a pro-rata share from each investor automatically by FXCM. These transaction fees are unavoidable industry standards. The FCM and RB are compensated for their services through the spread between the bid/ask prices.
What guarantees are Strategic FX making on its performance?
Strategic-FX will make no such guarantees. We promise to manage the systems and trades to the very best of our ability. We will put automated stops in place and account limits that will override the trader’s positions, all aimed at protecting our clients’ investments using all the tools available to us.
The performance of the fund will be a direct reflection of the trading decisions by the trader and the performance of those trades. We do not intend to tell the trader which trades to make and when; although we will have frequent discussions regarding strategy.
Furthermore, it is vital that you understand that investing in foreign currency markets is risky. Even with excellent management and correct trading strategies money can be lost.
What is the maximum draw down?
There will be a maximum draw down of 30% of the account balance. If this were to happen, all trading would stop immediately and all open trades at the market would be closed.
We will also have individual automated stops based on trading strategy.
Can referring brokers sign their clients into FXCM either under their current account or a newly established account?
Yes, referring brokers or IB’s should contact Strategic-FX to determine the correct next step.
How are you going to mitigate risk?
Our management plan is to put very tight controls on trading accounts. Here are some examples:
- We will limit the leverage in the account so that small movements in the market will not have large effects on capital balance. Without proper risk management, this high degree of leverage can lead to large losses as well as gains.
- The account will have an automated maximum-loss stop in place, installed by FXCM according to our specifications. Once this maximum stop-loss is hit, all trades will be closed at the market and the trader will not be allowed to enter a new position until the next business day.
- The trader will be limited to the total percentage of the account balance with which he can trade.
- No trades are allowed to be held over a weekend or holiday when FXCM is closed.
- If, by some unfortunate series of events, there were to be several days of losses and 30% of the balance in the account were to be lost, all trading activity will be stopped and each investor will have ample notice and time to remove close their account with Strategic-FX before trading begins again.
Can I remove my money when ever I wish?
Yes, you may request a withdrawal in any amount at any time. Once you make the request your account will be reconciled for profit/loss at 5:00 PM Easter Standard Time of that same day.
Can I add funds to my account after I have opened it?
Yes, your account is revolving and you may add or subtract funds as you wish.
Are my funds protected by insurance in the event of a bank failure?
Your funds are deposited into an account held in Forex Capital Markets LTD (FXCM UK). These accounts are fully segregated in accordance with UK financial regulations. In the unlikely event of FXCM UK's bankruptcy, clients of FXCM UK would be considered secured creditors and receive priority in bankruptcy proceedings.
Why are our funds deposited in the United Kingdom?
We wish to offer our investors the most security possible for their funds and currently one of the best securities available for an account which trades foreign currency is located in the United Kingdom. The Financial Services Authority (FSA) in the UK is one of the world's most respected financial regulatory bodies and administers these regulations that require Forex trading accounts to be segregated.
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