- Why do I need this service?
- Is it a managed fund service?
- What is the difference between this and other signal services?
- Do I have to place trades on my account?
- Do I have to leave my desktop turned on with the trading platform running?
- Do I have to do anything while working, sleeping or on vacation?
- Is it safe to leave the service running when not at home?
- Do you have access to my funds?
- Are the statistics shown on the website from real time forward trading?
- Do the figures in the performance section reflect the account balances before or after you take your fees?
- Are there detailed trading histories for each trade within each fund reported on the website?
- Can I have a trial period?
- What are the minimum funds required to join the service?
- Do you charge a monthly fee?
- Do you charge a management fee?
- Do you charge success/performance fee?
- When do you charge success/performance fee?
- Who are the signal service providers?
- What trading platforms do you support?
- Which brokers are supported by the service?
- Do you need the login information to my trading account?
- Are there any long-term contractual requirements?
- Will there be any differences between website performance and my account?
- Can I cancel a trade / delete a trade manually?
- Can I modify a trade manually?
- Can I disable trading in my account for a while?
- I want more or less risk / reward ratio than you show on the website. Can I set my account for such change?
- How and when do I pay the success/performance fee?
- Can I place additional trades in the signal service account?
- I already have an account with one of your brokers. Do I need to open another one?
1. Why do I need this service?
If you wish to receive automated trading signals from professional traders without having to sit all day managing signals and market momentum by yourself, this service is perfect for you.
2. Is it a managed fund service?
No. It is an automated signal service giving you full control and access over your account with the ability to close or modify positions whenever you want. For maximum returns, it is recommended, as much as possible, to let the signals run.
3. What is the difference between this and other signal services?
Virtually all other signal services are issued via e-mail / SMS, forcing members to sit, wait and manually execute. The TornadoFX signal service is fully automated allowing clients to be away from their computers.
4. Do I have to place trades on my account?
No. The signals are delivered automatically directly to your account via our dedicated signal server.
5. Do I have to leave my desktop turned on with the trading platform running?
No. TornadoFX maintains your account on our dedicated servers. This eliminates the possibility of internet disruption affecting your account.
6. Do I have to do anything while working, sleeping or on vacation?
No. The service is fully automated. You can also watch the signal service performance on our website from any computer while away from home.
7. Is it safe to leave the service running when not at home?
Yes. The service is fully automated and runs on our dedicated MT4 secured servers.
8. Do you have access to my funds?
No. All funds are deposited in customer accounts with the brokers. We therefore have no access to client funds. Additionally, we are not involved in the deposit and/or withdrawal process.
9. Are the statistics shown on the website from real time forward trading?
Yes, unless otherwise specified. All of our trades are monitored in real time by our unique report engine, and updated on our website. The report engine is responsible for sampling the trading account status every 15 minutes. The reports are generated and presented in real-time on our website.
10. Do the figures in the performance section reflect the account balances before or after you take your fees?
The figures in the performance section are taken directly from the signal provider's account, thus they reflect the balance in the account before deduction of the performance fee.
11. Are there detailed trading histories for each trade within each fund reported on the website?
No. In order to protect our providers’ intellectual property and trading techniques, we cannot show individual trade specifics. When you join the service you can see all the trades in your own account.
12. Can I have a trial period?
No. All signal service performance reports are available on our website for review real-time.
13. What are the minimum funds required to join the service?
10,000 USD. In order to maximize leverage efficiency and take the maximum number of trades, the preferred open account balance is 25,000 USD. There are no maximum limits.
14. Do you charge a monthly fee?
No.
15. Do you charge a management fee?
No. However our customers who are currently trading with ODL securities will pay an extra pip for running the service.
16. Do you charge success/performance fee?
Yes. A performance charge of 35% of each month’s profit will be deducted on a monthly basis.
17. When do you charge success/performance fee?
The success fee is deducted monthly. If one month there is no profit or at worse a loss, the fee will not be charged until the account balance is back to the level of the previous profitable month.
18. Who are the signal service providers?
Our providers are professional traders and trading companies. Many service providers have shown interest in becoming affiliated with us. We have chosen to work with quality and not quantity. We make an effort to bring you the best.
19. What trading platforms do you support?
Currently, our software applications are integrated with MetaTrader 4 trading platforms. MT4 is the most popular Forex trading platform in the world.
20. Which brokers are supported by the service?
Currently are service is available with FXCM (for US customers) and ODL securities (for non US customers). The TornadoFX signal service may be expanded to facilitate other brokers in the near future.
21. Do you need the login information to my trading account?
Yes. In order to deliver the signals directly to your account, the system requires automated account access. To allow that, you need to sign a Power Of Attorney document from your broker.
22. Are there any long-term contractual requirements?
No. There is not any minimum commitment period. Contracts run month to month.
23. Will there be any differences between website performance and my account?
There may sometimes be differences due to the different spread and split second execution time delays between one account and the other. Another variable may be a client adjusting their own account trades.
24. Can I cancel a trade / delete a trade manually?
Yes. Your trading account is under your full control. You may close or delete pending positions manually or change the automatic delivery mode to manual confirmation. However, we recommend that you do not interfere manually in trades that are managed by the service.
25. Can I modify a trade manually?
Only market trades can be modified manually. However, we recommend you do not interfere manually in trades that are managed by the service.
26. Can I disable trading in my account for a while?
Yes. You can stop and resume the service anytime you want.
27. I want more or less risk / reward ratio than you show on the website. Can I set my account for such change?
Yes. We can increase or decrease the regular leverage in your account.
28. How and when do I pay the success/performance fee?
Once a month. The fee is due within 5 days of invoice receipt. You will be asked to notify the broker to transfer funds to the TornadoFX account.
29. Can I place additional trades in the signal service account?
No. You will need to split your account and trade those manually outside of the signal service account.
30. I already have an account with one of your brokers. Do I need to open another one?
Yes, new documentation will need to be completed; the account opening is a formality for existing clients and will not likely require anything other than a completed application. There is no need to download the MT4 software, a new account number and log-in will be linked to your existing trade platform.