FXWW Membership- additional information
Thank you very much to all those who have applied.
We will only accept candidates who we believe have the attributes to make the transition from self-funded trader to risk-manager in the funds management industry. These attributes include;
- managing an explainable core strategy and implementing it consistently
- having a USP (unique selling proposition)
- having the adaptability to move from self-funded trader with a ‘profit’ goal to a manager with a ‘risk-management’ mandate
- The basic industry rule of thumb is that you will need a minimum 2-year audited track record. As an FXWW member, your previous track record will be taken into account and will be validated by your on-going performance.
- Typically the industry will expect that you have some institutional trading experience or at the very least, some strong industry references. FXWW has earned the industry’s trust and as a member you benefit from this relationship. We can vouch for our members credibility.
- The standard industry remuneration is known as 2&20, or 2% management fee and 20% of profits. Those starting out in the funds management industry need to be realistic about the management fee that they can charge and starting out with a 0.5%-1.0% management fee might be appropriate in many cases.
- Assets under Management (AUM) is the name of the game. The first target for every manager is $10 million after which you should be trading full-time. The main target is $100 million, after which the raising-of-capital becomes significantly easier.
- Quants are Kings! Those managers with systematic processes will have a significant edge over the purely discretionary trader when it comes to raising funds from the really big investors. Like it or not, it’s simply a fact of life.
Membership is not cheap. This is only for those who are really serious about their trading careers.
Rather than putting your money at risk with retail brokers and suffering the inevitable high fees and spiked stop-outs, you can now trade our account with an institutional broker safe in the knowledge that we will do whatever we can to ensure that you make as much money as possible. You will be paid a fair percentage-of-profit compensation and you will earn management fees once your competency has been proven.
Members that reach the prescribed proficiency will receive increased allocations which are calculated using the profiling and performance algorithm.
The top performers will be added to the FXWW Select platform where they can attract institutional and wholesale investors.
There are a number of levels of membership with each attracting a partially refundable deposit and an annual retention fee.
FXWW services include news & data services, institutional research, data analytics, regulatory cover, and marketing material.
An additional advantage for traders is that they can anonymously build a funds management profile whilst still managing their current careers.