Frequently Asked Questions

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How Does a Managed Forex Account Work?

To open a managed Forex account, you add money to your account and assign trading responsibility by signing and conveying a limited power of attorney. The manager does not have control over your funds and cannot deposit or withdraw them from your account. A managed forex account enables the manager to trade your account on your behalf without having to transfer the funds into a combined pool. The trader then makes all the trades for you and keeps 40-30% of all profits on trades made on your behalf; you keep 60-70% of all traded funds. This type of compensation system provides excellent motivation for your Forex trader to do the very best that they possibly can for you.

Here is how it works:

1) The client opens a Forex account at a Forex broker of their choice (I reccomend Varengold Investment Bank AG - The German investment bank). This Forex broker account is owned and controlled 100% by the client. All client funds deposited into that account are held by the Forex broker where the account was established.
2) The client authorizes a Forex account manager via a Limited Power of Attorney to execute trades on behalf of the client using the broker’s trading platform. This Limited Power of Attorney can be revoked at anytime and trading stopped immediately.
3) The client authorizes the Forex broker to pay a percentage (performance fee) of new profits on his/her account to the Forex account manager at the end of each month.
4) The Client is given complete access to view and monitor trade activity on his/her account. This includes seeing every trade taken on his/her account and viewing the account’s current balance and equity.
Have a Question? Need Assistance?
Please do not hesitate to contact me , should you have any questions

Do you have any rights to my funds at my broker/bank?

I only have rights to trade your account on your behalf and deduct our incentive fees each month which is stated on your brokers/banks power of attorney form that is signed between you and me.

When and How can i withdraw from my account?

Withdraw or deposit is allowed at anytime, once you need to withdraw please e_mail or contact the bank and follow their withdraw instructions, I advice to withdraw at the end of every month. Only you can withdraw by your signature, and your call.

How can I view the activity that is in my trading account?

Each client will be issued with a read-only login. You can login to your account to view account activity or generate reports at any time.

What Currency pairs do you trade?

Trading pairs: EUR/USD, GBP/USD, USD/CHF & EUR/CHF.

What is the minimum amount of money you will manage?

Due to the nature of the program I only manage account from US $ 20,000 (or equivalent).

What about fees, commissions, managment fees, incentive fees and if there is any other expenses?

I offer my Investors 3 types of Fee Schedules:

1) Customers with a minimum maintained balance US $ 20,000 to $ 99,999 (or equivalent)
Incentive Fee: 40% per month

For example 1: More info please see here: Performance page
Investor(1) started in December with $20,000,
Trading Period: 2009.12.02 - 2009.12.30,
Next month the broker achieved $7,214.98 profit,
40% ($2,885.99) incentive fees to Trader (Vitaliy Sokur) and broker, and
60% ($4,328.98) is Investor's(1) net profit.

2) Customers with a minimum maintained balance US $ 100,000 to $ 499,999 (or equivalent)
Incentive Fee: 35% per month

For example 2: More info please see here: Performance page
Investor(2) started in December with $200,000,
Trading Period: 2009.12.02 - 2009.12.30,
Next month the broker achieved $79,923.21 profit,
35% ($27,973.12) incentive fees to Trader (Vitaliy Sokur) and broker, and
65% ($51,950.08) is Investor's(2) net profit.

3) Customers with a minimum maintained balance US $ 500,000 to $ 5,000,000 (or equivalent)
Incentive Fee: 30% per month

For example 3: More info please see here: Performance page
Investor(3) started in December with $2,000,000,
Trading Period: 2009.12.02 - 2009.12.30,
Next month the broker achieved $771,633.06 profit,
30% ($231,489.91) incentive fees to Trader (Vitaliy Sokur) and broker, and
70% ($540,143.14) is Investor's(3) net profit.

NO FEES ON ASSETS. None Commissions. None managment fees. None incentive fees. None other expenses.

Fees are only on profits that have been done by the broker.

Do you have More information about monthly profit average?

Monthly profit average is 25% and once it could be more as it was 36,1% in December 2009. More info please see here: Performance page

What is the risk rate, and does it ever change!?

Risk is only ~20-25%, and it never changes .

What is the first ranked forex company/firm/bank that is dependable and based on votes from all traders?

Varengold Bank FX is number 1 ranked. Based on the the clients experineces with each broker.

In the 13 years since its foundation, Varengold has been a pioneering force in the German Financial Industry.
With more than 7,000 customers worldwide and managing transactions worth 100 Billion Euros daily, Varengold is continuing to grow from strength to strength. The bank is committed to maintaining its position as Germany's pre-eminent investment bank specialising in Managed Futures, Hedge Funds and Alternative investments.

What is "Varengold bank fx" guarantees?

Varengold Investment Bank AG (Varengold Wertpapierhandelsbank AG) is registered with the German Federal Financial Services Supervisory Agency (BaFin) with the number (109 520) 100 and listed on the www.bafin.de website.

Bundesbank
www.bundesbank.de/download/bankenaufsicht/pdf/bankstatistik03_erl.pdf
www.bundesbank.de/bankenaufsicht/bankenaufsicht_bafin.en.php
www.bafin.de/cln_043/nn_720494/SharedDocs/Unternehmen/EN/10/95/109520.html?__nnn=true

Varengold Investment Bank AG (Varengold Wertpapierhandelsbank AG) conducts the purchase and sale of financial instruments in their own name for third parties (principle broking service) in the sense of section 1 sentence 2 No.4 KWG, as well as financial portfolio management in the sense of section 1a sentence 2 No.3 KWG, and investment and contract brokerage according to section 1a sentence 2 No.1 and No.2 KWG (German Federal Banking Act).
Varengold Investment Bank AG (Varengold Wertpapierhandelsbank AG) subscribes to the Compensatory Fund for Securities Trading Companies (EdW) [www.e-d-w.de] .Varengold Investment Bank AG (Varengold Wertpapierhandelsbank AG) is a member of the Bundesverband Alternative Investments e.V. (BAI) [www.bvai.de] .

www.bvai.de/index.php?id=17
http://finance.google.com/finance?q=FRA:VG8
www.reuters.com/finance/stocks/overview?symbol=VG8G.F
http://investing.businessweek.com/research/stocks/snapshot/historical.asp?symbol=VG8G.DE
http://ipos.wallstreet-online.de/detail/753715.html

How can i open an account? How can i start?

Open an Forex Account in 6 Easy Steps

Here is what to do:

New customers - Instructions to open a live account

Step 1

Please fill online application. Open an online account through this link:

OPENING AN ACCOUNT ONLINE

fill out all the information needed.

Remember, if not present, to write 11001445 code in "BROKERED BY AGENT..." field.

Step 2

You will receive an e_mail from Varengold Bank FX, the moment you finish opening an online account, please open this e_mail you received and click on the link to download a PDF file, there are 8 pages with this PDF file. Print these 8 pages to signature pages number (4, 6, 7 and 8).

Step 3

Submit necessary documents.

Due to regulations in Germany, Varengoldbankfx will only accept accounts with the following authenticated documents along with the customer application:

IDENTIFICATION DOCUMENT FOR ACCOUNT HOLDERS AND ANY AUTHORISED PERSON (ENG) (23K)

How to identify

This also is up to authorized people who shall get for eg. an account or trading authority.

The identification is made as follows:

1. Take a document “Identification of account holder” or if needed "Identification of authorized person" and fill out the needed fields under point 1. and 2.

Sign with date under 1. “Personal signature of person to be identified”.

2. Make a copy of your passport.

3. Go with all these documents and the original of your passport to

• a notary
• an international known bank or
• an embassy or a consulate of Germany or of an EU-country
• a trusted third party of Varengold and let them fill out our identification form under 3. with signature and stamp/seal of the legalizing authority.

Individual/Joint Accounts
• Notarized copy of your passport.
• Customer agreement duly completed.

Corporate Accounts
• Notarized copy of your passport.
• Notarized Articles of corporation
• Notarized Certificate of Incorporation
• Customer agreement duly completed.

4. Send this document in original by mail within 14 days and by e-mail or fax in advance.
Please also attach the copy of the passport which has been used to identify you.

Varengold Wertpapierhandelsbank AG
Grosse Elbstrasse 27
D-22767 Hamburg
Germany

Step 4

Receive email with account status.
Once your account is being approved, you will receive all banking details for you to start trading.

Step 5

Deposits in your new account

Garantee that your account is available for business as early as possible, you may already make payments into your new account.

To do so, please transfer the desired sum to the following Varengold transfer account:

Dresdner Bank AG
Account holder: Varengold Wertpapierhandelsbank AG
Account No.: 0310652415
Sort code: 20080000
SWIFT: DRESDEFF200
IBAN: DE34200800000310652415

or see hee: Fund your Forex Account

Step 6

Signature Power of Attornrey - Varengold bank FX and send it to the bank.

Below are some additional forms that maybe required in addition to the customer application.

Limited Power Of Attorney (214K)

Additional account request form (33K)

Internal Funds Transfer Form (33K)

Withdrawal Request Form (2942K)

Varengold bank FX is a leading German Investment Bank which offers cutting edge technology, competitive pricing, investment options, portfolio managment for institutional and retail customers.

Varengold Wertpapierhandelsbank AG) is registered with the German Federal Financial Services Supervisory Agency (BaFin) with the number (109520 ) 100 and listed on the www.bafin.de
The bank has its Headquarters in Hamburg with service support offices in Shenzen and Zurich.

Disclaimer
Trading Foreign Exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advisce from an independent financial advisor if you have any doubts.

*Testimonial Disclosure
Unique experiences and past performances do not guarantee future results! Testimonials herein are unsolicited and are non-representative of all clients; certain accounts may have worse performance than that indicated. Trading spot currencies involves significant risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreing exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. No "safe" trading system has ever been devised, and no one can guarantee profits or freedom from loss.

*Keywords
Forex Managed Account, Managed Forex Accounts, Managed Forex, Asset Management, Forex Managed Accounts