Hi all, Haven't been here in a while. I designed a solid forex/futures strategy that I am currently running on Collective2: https://collective2.com/details/106272060 However I am very dismayed at their recent restructuring of fees. Basically charging you twice as much to list your strategy. Does anyone know of similar sites for forex traders where you can compete & show a track record and get subscribers? Thanks to all. Happy trading.
Don't they give you a free period that allows you to age your strategy before publishing? It will be awhile before those 2 big punts get washed away.
Why not trade a small real-money account instead? Looks like you're paper-scalping for small moves. Who knows if that would work with real money? Any investor will ask...
Here is the forum post about new fees: https://forums.collective2.com/t/new-pricing-choices-for-trade-leaders/9071 Problem with real-money account is compliance. I work in the field and any personal trade has to be cleared by compliance before it is done. Since I'm not going to email compliance 5 times a day, and since they sometimes take hours to get back, it is pretty much impossible. Legally that is.... I saw etoro - but it's not available in the US yet at least thats what it says when I go to their website.
The pricing is whack and it will relegate them further to the back of the bus. They will be exposed to more competition from platforms that offer free incubation.
Thing is, if you had already signed up for the $125 flat fee. They can't change that. If that was the original agreement then they must stick by it for ur strategy. Going forward they can change the fees but not if u already paid that. Were they already collecting 30% from each trader that paid or is that new as well? Shish I think I need to start a website, I'm thinking www.elitetrader2.com Just checked and the domain is available I might call myself Baron2.
Are they collecting 30% from your monthly charge ( I see 50% for 1 option ) + $99 per month to auto-trade + the new monthly fee schedule + a % from each trade? They are milking it
Yeah, 30% right now, which is like, ok whatever, I'll hike my fees if I want more. To run your own strategy you don't pay autotrade fees, thats for subscribers, and they don't get commissions on trades. To run a strategy it used to be $120 flat for 6 months (was only $89 a couple years ago) while also taking 30% of subscriber fees. Now just to get 30% subscriber fees (instead of paying 50%!!!) you have to pay $234 per month. It stinks of a money grab which is why alot of us are trying to find anything else we can use.