General Questions for Managed Accounts
1What kind of average monthly return can I expect?
This really depends on market conditions. Some months will perform great while others won't be as good. Our goal is to avenge approximately 2% per month.
2Do I need to use a VPS?
No, there's no need to use a VPS for managed accounts.
3Will there be losses on the account?
Yes. Some days/months there will be drawdown, and that is how the strategy works, as we're getting out of bad trades as soon as possible.
4When can I withdraw my funds?
You can withdraw your funds anytime. However, we ask that you make your withdrawals on the 1st of the month, as this helps our back-office accounting run smoothly.
We also recommend withdrawing some of your profits periodically (on the 1st) until you make back your initial investment.
If you wish to close your account and withdraw all of your funds, we ask that you notify us at least 10 days in advance.
We also recommend withdrawing some of your profits periodically (on the 1st) until you make back your initial investment.
If you wish to close your account and withdraw all of your funds, we ask that you notify us at least 10 days in advance.
5How does the 30% performance fee work?
On the 1st of each month, we deduct 30% of the net gains that the account accumulated in the previous month. If your account has $1000.00 in profit, we deduct $300.00 as a performance fee. If the account did not accumulate any profit for that month, there will be no fees or deductions.
No gains = No fees
Please see the next FAQ "How does the High Watermark structure work?" for additional information.
No gains = No fees
Please see the next FAQ "How does the High Watermark structure work?" for additional information.
6How does the High Watermark structure work?
Say you begin with a $10,000 investment.
If the system generates 10% in the first month, your gross investment would have grown to $11,000
The 30% performance fee for that month is calculated on the $1,000 profit. So, $300 will be deducted from the account as a performance fee.
This leaves the High Watermark at $10,700 (This is your new "base" amount which is subject to a performance fee.)
If in the second month, the system generated a loss of $200 which leaves you with a balance of $10,500., then no fee is deducted as you did not make any profit, and your High Watermark remains at $10,700. (This was the previous month's balance when the account was subject to a performance fee).
If in the third month, the account generates a $1,000 profit, and the balance of your account grows to $11,500. Being that the High Watermark was $10,700, the performance fee is only charged on the profit above the High Watermark. (The fee is now 30% of $800 instead of 30% of $1,000.)
We only get paid when you make a net profit.
If the system generates 10% in the first month, your gross investment would have grown to $11,000
The 30% performance fee for that month is calculated on the $1,000 profit. So, $300 will be deducted from the account as a performance fee.
This leaves the High Watermark at $10,700 (This is your new "base" amount which is subject to a performance fee.)
If in the second month, the system generated a loss of $200 which leaves you with a balance of $10,500., then no fee is deducted as you did not make any profit, and your High Watermark remains at $10,700. (This was the previous month's balance when the account was subject to a performance fee).
If in the third month, the account generates a $1,000 profit, and the balance of your account grows to $11,500. Being that the High Watermark was $10,700, the performance fee is only charged on the profit above the High Watermark. (The fee is now 30% of $800 instead of 30% of $1,000.)
We only get paid when you make a net profit.
7How can I monitor my account?
After you open an account with one of the supported brokers, you will be able to login to view the trading activity on your account in real time.
You will also receive daily and monthly statements via email with the daily/monthly activity on your account.
8Where's my money being held?
Your funds are held in segregated bank accounts via your broker. We have no access to it at all. We recommend that you check with your broker as to the exact bank being used to hold your funds.
We only partner with stable and regulated brokers with whom we entrust our own funds with. The current supported brokers are regulated by the Australian Securities and Investments Commission "ASIC".
We only partner with stable and regulated brokers with whom we entrust our own funds with. The current supported brokers are regulated by the Australian Securities and Investments Commission "ASIC".
9Why are the Quest performance charts displayed with FX Blue and not MyFxBook?
The original Quest account was with FXCM from November 2010 until February 2017.
In February 2017, FXCM closed in the USA and transferred their live accounts to Gain Capital (Forex.com).
As MyFXBook is unable to transfer the trading history from our old account with FXCM to our new account with Forex.com, we are unable to display accurate performance on our website via MyFxBook .
Since FX Blue allows us to consolidate the performance history from both the old FXCM account and the new Forex.com account, we can use their charts to display accurate performance.
In February 2017, FXCM closed in the USA and transferred their live accounts to Gain Capital (Forex.com).
As MyFXBook is unable to transfer the trading history from our old account with FXCM to our new account with Forex.com, we are unable to display accurate performance on our website via MyFxBook .
Since FX Blue allows us to consolidate the performance history from both the old FXCM account and the new Forex.com account, we can use their charts to display accurate performance.