This is entirely up to you, however we recommend at least $2000 to get started and benefit fully from our services. Depositing a lower amount may place your account in greater risk proportionally to the master trading account.
You can access the available equity in your account at anytime, all you need to do is submit a withdrawal request (or deposit more funds), through the brokers website with whom you created your Forex broker account.
Although you do have access to withdraw or deposit funds at anytime, we would highly appreciate a courtesy email with some advanced notice of this, as deposits and withdraws are likely to impact trading results for currently open positions.
Nothing! – well, kind of 😉
We charge a $25 monthly subscription fee, and then a 15% performance fee for our services. What does that mean? It means that if we don’t make you any profits for that month, you don’t pay a cent in performance fees.
For every month that we do make you profits, we’ll send you an invoice for 15% of those profits as our fees for providing you with great service.
Here’s an example:
If you have an account with $3000, and we make a 10% return for the month. Your new account balance is $3300. We then subtract our 15% performance fee ($45), and our monthly subscription fee ($25), leaving you with $3230 in your account. That’s an effective account growth of 7.6% for the month, not bad!.
Choosing a Forex Broker can be a daunting task, so if you’d rather get in touch with us to help guide you through the process, simply drop us an email at email@example.com and we’ll be glad to help you out and get you started.
The broker you choose is entirely up to you, but we do have the following requirements:
- The account should have variable spread
- The account you choose should have an average spread on EURUSD of less than 1 pip (the lower the better)
- The account should have a leverage of at least 1:200
- The account should allow micro lot trading (0.01 lots)
- The account should not have FIFO restrictions, and should allow hedging
We recommend the following brokers:
ICMarkets (Raw Spread Account) – https://www.icmarkets.com/au/en/open-trading-account/live
AxiTrader (MT4 Pro Account) – https://www.axitrader.com/?page=A000005&promocode=866921
As with all Forex Trading (and anything else worth pursiung in life), there is risk. But the key to trading profitably is managing that risk within acceptable margins. The Phoenix Trading strategy has a limit of acceptable risk, at which case we will realise some losses. Losses are a natural part of any trading strategy and, while painful, will happen. The aim is to ensure that the profits outweigh any losses over the longterm. Having this mindset allows us to trade confidently. Although no profits, losses or results can be guaranteed, we strive to make our customers increasingly satisfied with our service.
Here’s a quick start to getting connected:
- Register on our website: http://www.phoenixtrading.net/index.php/register-now/
- Once you have created a profile, update your Broker Account details
- Activate your monthly subscription from within your member profile
we’ll then get you up and running, and send you confirmation once everything is running!