On this web page you will find setup instructions for auto trading the following trading programs with Oanda:
- FX Index Arb - Currency Trading Program
- FX Basket Quant - Currency Trading Program
- FX Quant 11 - Currency Trading Program.
- FXC - Currency Trading Program
How does it work?
1. You will open a separate Forex trading account with Oanda and select MT4 (Metatrader 4) as a trading platform
2. You will issue an Allocation Order, i.e. designate a nominal account size (in case of a notionally funded account)
3. Based on our FX quantitative trading systems, trades will be automatically placed in your trading account and we will monitor the proper execution
4. You decide when to start/stop the trading
How to start auto-trading?
• Please download and read the Disclosure Document for the selected currency trading program. Sign, scan and e-mail to us the following completed forms:
- Trading Advisory Agreement (Exhibit 1 from the Disclosure Document) for the selected currency trading program
- Acknowledgement of Receipt of Disclosure Document and Incentive Fee Authorization (Exhibit 2 from the Disclosure Document)
• Open online a live fxTrade account with Oanda Inc (http://fxtrade.oanda.com/fxtrade/open_account.shtml); Important: please enable your trading account for Metatrader4 (MT4) trading. Obtain Oanda FxTrade account number. Make a copy of two photo IDs: Driver's License and another photo ID for US citizens, or a PASSPORT and Drivers License for NON-US citizens and FAX/e-mail them to Oanda. Contact us if you want to auto-trade with another Forex dealing company.
• Issue a check, wire transfer or use for your initial deposit PAYABLE ONLY TO OANDA CORPORATION. See http://fxtrade.oanda.com/fxtrade/funds/fund_deposit.shtml for funding options. Make sure to add the reference: "For further credit to (Your Name) and Acc. # (XXXX)". The minimum is $100,000 for fully funded accounts or $25,000 (minimum) for notionally funded accounts (for $100,000 nominal account size).
• Provide a Limited Power of Attorney (LPOA) authorization document. Use the form from Exhibit 4 of the Disclosure document or download the form from Oanda. Fill in your name and FxTrade account number, sign in, scan and e-mail it to info@fx-quant.com. We will complete the form and e-mail it back to you.
• Provide us with MT4 login details. Please choose a password for the MT4 trading platform, different from the password for your account / cash management platform. This way, we will only have access to your account for trading and not for cash management / withdrawal.
• Send us a monthly Allocation Order (in case of notionally funded account) if you want to increase/decrease the nominal account size, add/withdraw funds or close your managed account. This is very important as we have to adjust the position sizes and the ROR (rate of return), HWM (High Water Mark) and performance fee calculations.
• To check the progress of your managed account at FxTrade GUI: https://fxtrade.oanda.com/account/login?intcmp=fxTradeAll_Site_TopNav_TradeMyAccountButton
• Please do not place any trades in your trading account, in order not to interfere with the MT4 automated trading program.
Why auto-trading?
• You open your trading account and start or stop auto trading at any time.
• Monitor your trading progress with Oanda's reports in real time.
• You will pay no commissions (in addition to FCMs commissions, if any), no platform fees and no data-feed costs. There is no management fee for using FX Quant's auto-trading service, no subscription fee and no withdrawal fee. However, there is a performance fee equal to 20% of all trading profits generated in your account (realized & unrealized P/L), based on monthly, or quarterly high water mark, or upon exit from the auto trading program. See also this performance fee calculation example.
• Devote your time to other endeavors instead of monitoring a trading system.
• Never miss a trade. The strategy will trade automatically on a remote, Cloud based server and we will monitor the execution in your trading account.
If you have any further question, please do not hesitate to contact us.
Oanda Corporation, is a Futures Commission Merchant (FCM), registered with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA). You can check NFA records of OANDA at http://www.nfa.futures.org/basicnet/ (NFA ID #0325821). OANDA will be a counterparty for all your Forex transactions.
PLEASE TAKE A MINUTE TO REVIEW AND UNDERSTAND THE RISK / DRAWDOWN ANALYSIS ON THE FX QUANT 11 PAGE BEFORE YOU INVEST. ALSO, WE DISCOURAGE INVESTING MORE THAN 1/3 OF YOUR TOTAL INVESTMENT PORTFOLIO IN ANY PARTICULAR TRADING PROGRAM, QUANT TRADING - CURRENCY TRADING PROGRAMS INCLUSIVE.
THIS IS NOT A SOLICITATION TO INVEST AND YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTION.