Frequently Asked Questions | Bina Forex | Managed Account SolutionsBina Forex | Managed Account Solutions

Frequently Asked Questions

 

General Questions

 
1What kind of average monthly return can I expect?
This really depends on the movement of the market. Some months will perform great while others won't be as good. Our goal is to generate at least 2% - 3% monthly.
2Do I need to use a VPS?
No, there's no need to use a VPS.
3Will there be losses on the account?
Yes. Some days/months there will be drawdown, and that is how the strategy is supposed to work, as it's always getting out of bad trades as soon as it possibly can.
4When can I withdraw my funds?
You can withdraw your funds anytime. However, we do request that you make all of your withdrawals on the 1st of the month, as this helps our back-office run smoothly.

We also recommend withdrawing some of your profits periodically (on the 1st) until you make back your initial investment.

If you ever 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% - 25% performance fee work?
At the end of every month, we will deduct 30% of the net gains that the account accumulates. If your account has $1000.00 in profit, we will deduct $300.00 as a performance fee. If the account did not make any profit for that month, there will be no fees or deductions.

Please see the next FAQ "How does the High Watermark structure work?" for additional information.
6How does the High Watermark structure work?
Let's say you begin with a $10,000 investment.
If the system generated 10% in the first month, your gross investment would have grown to $11,000 (Not bad, eh!).

The 30% performance fee for that first month is calculated on the $1,000 profit, so, a $300 fee will be deducted from the account.

This now leaves the High Watermark at $10,700 (This is the 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 generated a $1,000 profit and the balance of your account grows to $11,500. Since 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.)
7How can I monitor my account?
Once you open an account with one of our supported brokers and connect your account to our system, you will be able to login 24 hours a day to view the trading activity on your account in real time. You will also receive daily and monthly statements via email showing the daily/monthly activity on your account.
8Where's my money being held?
Your funds are being held in segregated bank accounts through 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 reliable and regulated brokers who we entrust our own funds with. Our current supported brokers are regulated by the Australian Securities and Investments Commission "ASIC".
9Why is the Quest performance displayed on FX Blue and not MyFxBook?
Our primary Quest performance account was with FXCM from November 2010 until February 2017.

In Feb 2017 FXCM shut down and gave all of their live accounts to Gain Capital (Forex.com).

As MyFXBook was unable to transfer our trading history from our old MyFXBook account with FXCM to our new account with Forex.com, we were unable to display performance on our website via the MyFxBook API.

Since FX Blue allowed us to consolidate the performance history from both the old FXCM account and the new Forex.com account, we were able to use their live charts to display performance on our website.