FXManager with Oanda

O

OddTrader

http://elitetrader.com/vb/showthread.php?s=&postid=1723309#post1723309
Quote from TradingWise:

Ivanovich,

As you mention Oanda, they launched their FXManager platform recently. The way it works is that you sign up for a manager account. All your 'clients' sign up for an individual account and allocate funds from their individual accounts to your manager account. You, as a manager, can then trade all funds allocated to the manager account.

As a manager you have control over who can participate and you can charge manager fees. The legal requirements are outlined at the following webpage. I don't think you need a series X for this, but you better check with Oanda to make sure.

https://fx1.oanda.com/ma/relationship.shtml

I would advice you to check the platform out carefully on the FXGame version of FXManager to see if it is what you are looking for.

https://fx1.oanda.com/ma/index.shtml

The downturn is that each client has to register their own account and allocate the funds. Maybe you can get around this requirement by consulting Oanda (i.e. you also manage the client accounts for each client).
More...

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
 
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
 
Quote from TradeViper:

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
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Thanks Viper.

Seems not many FX Managers here yet today.
 
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.
 
Quote from sysre:

I
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.
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Absolutely. I actually was one who gave up on it.
 
Quote from sysre:

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.
More...

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."
 
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.
 
Quote from sysre:

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.
More...

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!
 
Quote from GUESSWORK?:

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.
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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?
 
Quote from OddTrader:

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
More...
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.
 
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