So, Why Assets FX?
I want to start by saying that the reason Assets FX never appeared on my radar screen is simple: they have no PAMM or managed accounts programs. In the past, this was an important search criterion.
One important thing you should know, and really it has been a big problem for investors and traders everywhere since the start of the modern trading era in the late 70’s, is that brokerage houses, banks, and the vast majority of fund managers view managed money as “chump” money, “low hanging fruit”, “Muppet dollars”, “easy pickings”, etc.
Today, as in the past, there is an entire food chain of people and institutions involved in “getting their share” of your managed funds. It is literally impossible to find a place to trade that doesn’t want spreads of at least 2 ½ - 3 PIPS [or more!] for a PAMM. It is a problem I have faced at a number of places in the past, and because of that it limits my flexibility to manage funds effectively.
For those that need [for whatever the reason] managed accounts, I’m going to address that situation in my next post when I talk about Collective 2, and our plans for using them in the most competitive, low cost trading environment out there today. It’s not perfect [there is no perfect trading environment available for retail accounts], but it gets the job done in the lowest cost structure my grey cells can get you. But that’s for the next post.
There are 4 important criteria, in choosing a brokerage house, if we want the most flexibility offered to us via trading FX; 1) safety of funds, 2) cost of entry to trading [i.e., low account opening balance with flexibility of high leverage for those that want it], 3) tighter spreads than you can get on any exchange with the flexibility of trading any amount versus exchange standardized contracts, and 4) NO limits on your trading [i.e., no “freeze zones”, no limits for taking profits or setting stops, and NO requotes.]
It is for these reasons that I have chosen to trade at Assets FX. Don’t take my word for it, go visit the website http://assetsfx.com and do your own due diligence. If you have any questions get on live chat [07:00 – 22:00 server time] or send them an email.
With the release of the Scalper Algorithm, you now have the means and the place, to get the total job done. No matter how you want to trade, the savings from less-than-exchange-traded-spreads will put a lot more money into your account versus more of your money going to the banks and the brokerage house.
Now, the one limitation we face is that they have no offshore debit card for withdrawal. You are either going to have to use wire transfer to/from a bank, or back onto a debit/credit card. This has obvious consequences.
If you are a small trader, trying to build your pile of money, this limitation will be more of an inconvenience than a financial hit.
For larger traders, you can easily find offshore information [plus a whole lot more] by doing simple search engine queries. If you do internet search, use “Duck Duck Go” as your search engine; they [unlike Google] will not track and save your search queries.
Look up IBC’s [International Business Company], Private Interest Foundations [PIF’s], and concentrate your search efforts on Belize, Nevis, and Panama. What you will find is a literal ton of information on structure and strategy.
Of course, after you do this, any offshore law firm or incorporation service worth their salt will validate your search efforts, answer any questions, and give you their opinion on which strategy is best for you.
So, I’m just sayin’, in case you find this factual information interesting and educational.
Have a great day everyone.