FXManager with Oanda

Discussion in 'Professional Trading' started by OddTrader, Dec 22, 2007.

  1. http://elitetrader.com/vb/showthread.php?s=&postid=1723309#post1723309
    Does anyone have any practical experience (whether as a client or manager) or comments on Oanda's FXManager, about such as business model and platform operations? TIA
  2. Hey Odd, this has been a business model for Spot Currency managed accounts for years. You don't need a 7, 9, 13 or even 3, you just need to be careful how many clients you have, and how the CFTC would categorize them, or you can register with the CFTC. You are still better to just keep your client #s low. OANDA is late getting on this bandwagon, other brokers have had this for a long time. It also should allow you to execute all accounts with one mouse click, it is called a BLOCK account, and within this block account you have sub accounts.

    The Ever Experienced VIPER
  3. Thanks Viper.

    Seems not many FX Managers here yet today.
  4. R1234


    I trade my model for 3 clients at present through the FXManager platform.

    It took a bit of time to learn all the features, especially the trade reproportioning feature.

    i.e. what do you do if a new client enters mid trade, or if a client withdraws money? The reproportion algorithm is as good as any out there, and I am pretty satisfied.

    One drawback is that there is no high watermark fee function. But that's ok since I only charge my clients a monthly fee based on NAV. The recurring fee function is automated.

    My big gripe though is the client sign up process. It is among the worst I've seen, and it really can turn off potential clients. It is too long and complicated to sign up, with a lot of vagueness, so you have hold each new client's hand through the sign up process.
  5. Absolutely. I actually was one who gave up on it.
  6. I think Oanda should speed up the following useful and important feature soonest. Otherwise, its competitor Collective2 would be even better than the FXManager platform for now. Perhaps that's why a couple of FX managers while using FXManager are still also using Collective2 till now.

    "Q. The FXManager Client Login allows my clients to see every trade I make on their behalf. Can I hide these details from them?
    A. The current release of FXManager does not allow for Account Trade activity to be suppressed. Options for hiding or delaying trade detail are planned for a subsequent release."
  7. I had thought that Dukascopy was bad but I am heartened to hear Oanda is as bad to join.
    It took 5 weeks to join Dukascopy but the profits from the managed account are worthwhile so as a Client I am happy with my 5% net per week on average.
    My gripe with Oanda was they would not put me in touch with the high earning managers so I gave up!
    If anyone has a first hand experience of a good manager then please let me know as it is always a mistake to put your eggs in one basket.
    Regards to all.
  8. Would you like to post an invitation link of your program, so that any one of us could test it, whether with our game accounts/ money or else. Thanks!
  9. 5% net per week, that is 1,264% net per year, sounds quite good, isn't it?

    Do you have its web site for our reference?
  10. Don't invest other people money in unregulated markets (like Forex).
    If they go bankrupt your customers money is lost.

    Besides brokers may be in bad financial health. They are now running into stop-loss orders like crazy.
    Sometimes up to 50 pips.
    #10     Mar 23, 2008