Frequently Asked Questions

Questions regarding the Forex For Success Managed Account

In summary, how does your program work?
Where can I open my trading account?
In order to open an account, must I deposit my money in your company?
May your company withdraw funds from my account ?
What kind of statements will I receive?
What if the investment loses money one month, then makes money the next, will I still be charged?
What return should I expect?
What are the fees?
Can I trade my account at the same time?
How much do I need to get started?
When may I withdraw money from my account?
Is it possible to lose all my investment ?
How long must I wait if I want to withdraw my money and close my account ? Must I pay an additional commission ?
 

Questions regarding the Forex Market

What is Forex?
Why FOREX Trading?
When does Forex trading occur?
What is a Pip?
What are "long" or "short" positions?
What is a Limit order?
What is a Stop Loss order?
What do the terms "bid/ask" and "spread" mean?
What is Margin?
Risk Capital?
 

If your question is not answered here, please email us at Support@ForexForSuccess.com.

Questions regarding the Forex For Success Managed Account

In summary, how does your program work?

You will open a Forex trading account in your name at MB Trading. Your account is then traded by our trader via a limited power of attorney and at the end of the month we receive a percentage of the new net profit. We only make money if you make money.

Where can I open my trading account?

We are partnered with MB Trading forex broker. For more details please click the "Our Broker menu button at the top of this page.

In order to open an account, must I deposit my money in your company?

No. Forex For Success only manages your account, The funds are to be placed with MB Trading, a very reputable broker, and placed in your name.

May your company withdraw funds from my account ?

Impossible. Only you are authorized to withdraw funds.

What kind of statements will I receive?

Clients will be able to login to their accounts via the Internet and immediately see the trading activity and account balance.

What if the investment looses money one month, then makes money the next, will I still be charged?

We charge on a “high watermark”. For example, if we loose $300 one month, and make $300 the next month, you will not be charged at all.

What return should I expect?

We make no claims for future performance. However, based on a two year track record we’ve achieved an average of 25% + per month. However, please note that past performance is not necessarily indicative of future results. See our disclaimer for more details.

What are the fees?

The Forex Managed Account performance fee is tiered depending on your investment amount as follows:

Can I trade my account at the same time?

No. If you would like to trade yourself then please use another account.

How much do I need to get started?

For a managed forex account the minimum is $1,000 US.

When may I withdraw money from my account?

It is your money. You can withdraw it whenever you decide.

Is it possible to lose all my investment ?

When your account is managed, there is a stop loss clause of 35%, after which point you will be contacted, and we will ask if you would like us to continue to trade your account.

How long must I wait if I want to withdraw my money and close my account ? Must I pay an additional commission ?

You can withdraw your money and close your account whenever you decide. You will NOT pay any kind of additional commission.
 

Questions regarding the Forex Market

What is Forex?

Forex is an acronym for FOReign EXchange and is the worldwide currency inter bank or inter dealer market that uses a floating exchange rate system. Most people have little knowledge of Forex. Yet, it is the world's largest financial market with an estimated daily average of more than $1.5 to $2 TRILLION.

Why FOREX Trading?

Forex trading is attractive because it offers unparalleled freedoms. A Forex trader can live almost anywhere as long as he/she is within reach of the internet. A Forex trader can work from home or office, and in some cases, even trade while traveling! A Forex trader can usually choose his/her own hours to work since the global foreign exchange market is open 24 hours a day. A Forex trader avoids many common headaches associated with running a business because there is NO inventory, NO shipping, NO billing, NO collections, NO employees, NO commuting and NO dress code. And finally, since Forex traders can potentially earn a very high income, they enjoy the possibility of never, ever working for someone else again!

When does Forex trading occur?

The first session, which is the Tokyo Session, begins each week on Monday morning in the Asia-Pacific region which is Sunday evening in the Americas. Trading continues non-stop moving into the London Session and on to the New York Session until all markets close on Friday afternoon.
The forex market trades 24 hours around the globe, there are no open and close like the stock market.

What is a Pip?

A pip is the smallest movement in a currency. Often referred to as "ticks" in the futures markets. For example, in EUR/USD, a move from 1.2080 to 1.2081 is one pip. In USD/JPY, a move from 110.51 to 110.52 is one pip. Trading full contracts (100k of currency) the EUR/USD and GBP/USD are worth aprox. $10, for the other pairs aprox. $8. If you trade mini contracts divide by ten, instead of $10 every pip worth $1.

What are "long" or "short" positions?

A long position is one in which you buy a currency at one price, with the expectation of selling it later on at a higher price. Obviously, you anticipate that the market will rise. A short position is one in which you sell a currency with the expectation of buying it back at a lower price. Here, you expect the market to fall. Every FX position you take automatically entails going long in one currency, and short the other. If you buy one, by default you are shorting the other.

What is a Limit order?

A limit order is an order with restrictions on the maximum price to be paid or the minimum price to be received.

What is a Stop Loss order?

A stop loss order is an order type whereby an open position is automatically liquidated at a specific price. Often used to minimize exposure to losses if the market moves against an investor's position.

What do the terms "bid/ask" and "spread" mean?

Bid is the highest price that the seller is offering for a particular currency at the moment; ask is the lowest price acceptable to the buyer. Together, the two prices constitute a quotation; the difference between the two is called the spread.

What is Margin?

Margin is essentially collateral for a position. It allows traders to take on leveraged positions with a fraction of the equity necessary to fund the trade. In the equity markets, the usual margin allowed is 50% which means an investor has double the buying power.
In the forex market leverage can be as low as 0.5%, giving investors the high leverage needed to trade actively.

Risk Capital

No matter how good a system looks, how good a system performs or how much money it makes, only "Risk Capital" or "Risk Funds" should be used in trading. A person who does not have "Risk Capital" or "Risk Funds" (funds they can afford to lose) should not trade in the market.