FAQ
What brokerage does FX Hoy Capital Management direct their Managed Account clients to?
All our Managed Accounts are held with OANDA Corporation, one of the largest USA Regulated Retail FX Brokers in the industry.
FX Hoy has 3 levels of clients. Gold, Platinum and Premier. We charge a flat performance fee monthly off all profits earned on our client's accounts . Gold clients pay 50%, Platinum clients pay 35% and Premier clients 25%. This fee is based on a high water mark system, which means we are only paid if the current month's gains outweigh the highest recorded profits on record for the account.
For example a Platinum Client deposits $10,000 into their account on January 1 st . On January 31 st the total account balance is now $12,500. This means the total earned interest is $2,500. FX Hoy would be compensated $875 (2500 * 0.35) and the Client would now have an account balance of $11,625. On February 28 th the account balance is now $11,000 due to a monthly loss. FX Hoy is NOT compensated for the month of February. On March 31 st the new account balance is $13,500. Based on this example the account has surpassed the previous high water mark, set on January 31 st , by $1,000. This entitles FX Hoy to $350, or 35% of the earnings ABOVE the previous high.
FX Hoy Capital Management does not charge any management fees, termination fees, account opening fees, or any other administration fees above and beyond our performance fees.
The main and most important difference between a standard Mutual/Hedge Fund or Pooled Style Investment is that with a Managed Account the account is opened in the client's name, and all deposits and withdrawals are controlled by the client. The trading agent or trader, in this case FX Hoy Capital Management, is simply given a very limited Power of Attorney which allows him/her to place trades on the account, nothing more. All administrative actions are done by the client via the client's brokerage account.
FX Hoy Capital Management does not use any automated trading techniques on it's Managed Accounts. All our trades are entered manually and are based on one or more of our three main technical strategies. We look at price action and trend continuation above anything else. We do not use exotic indicators. We are always in beta tests with new strategy ideas and continually update our active strategies based on forward testing results.
What currency pairs does FX Hoy Capital Management trade using it's strategies?
We do not focus on anyone pair, however using the strategies we have developed the pairs which give us the best results are as follows; GBP/JPY, GBP/USD, GBP/CHF, USD/CHF, EUR/USD, USD/JPY, EUR/JPY
What percentage of one's account is risked on anyone trade?
This depends greatly on several factors including but not limited to; general market conditions, the strategy being used in determining entry and exit points, and the percentage of available margin. We are more than happy to discuss this in more detail should you still have questions, visit our contact page in order to get in touch with us.
Based on FX Hoy's diverse trading strategies, what is the average time between the opening and closing of a position?
When we open positions, aside from our scalping and or micro time frame trades, we do not designate a specific length of time we will hold them. Most trades are held until we either close them for profit or for a loss. Generally speaking we won't hold trades more than a week at a time, however this is not a rule that is set in stone.
What is the minimum in order to open a managed account with FX Hoy?
Currently we are accepting accounts starting from just $250.00.
How do I log into OANDA to check my account?
You can login via the FXManager (https://fxtrade.oanda.com/your_account/login.shtml?account=fxmanager&type=fxtrade_clients)
Client Platform using the username and password you created when you opened your account with OANDA.
How do I fund my account?
You can fund your account via bank wire, check/money order, or paypal after you receive the confirmation email from OANDA that your account is ready for funding.
Be aware that you can only receive withdrawals via the method with which you funded your account and only to the exact account from which you funded your OANDA account.
Funds can be withdrawn anytime without penalties or restrictions by following these simple steps;
1. Log into your FXManager Account
(https://fxtrade.oanda.com/your_account/login.shtml?account=fxmanager&type=fxtrade_clients)
2. Click on the target account on the top of the page, then select Account > Allocate Funds
3. Select De-allocate, enter the amount, then click SUBMIT
4. Your de-allocation request will appear in the Allocations table.
5. FX Hoy Capital Management's Trading Agent's will likely accept your request within 24 hours.
Once your de-allocation request has been completed you can then request a withdrawal from Oanda via the Cash Management System.
PREVIOUS MONTHS
October Performance:
Fund Growth : 101.2%
November Performance:
Fund Growth : 96.0%
December Performance:
Fund Growth : 55.6%
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