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What is a managed account?
A managed account is an investment account owned by an individual investor and looked after by a hired professional money manager.
Read more in our Learning Centre.
In Summary, how does your program work?
We at Sunshine Forex follow some of the highest standards in the industry. Our entire processes are transparent and user friendly. Here is a brief account of how the entire system works:
First of all a client picks the investment program that he /she wish to invest in. There is different fees structure for different programs and have different entry levels too. The client then opens a Live trading account with London Capital Group via us.The client also signs a LPoA (Limited Power of Attorney) while opening the account, to authorise us for trading on the account. POA is a document which entitles Sunshine to trade your account. We cant make any deposits/withdrawals from the clients account. PoA gives us ONLY the trading rights on your account. After the account is opened with the required PoA, the account is ready to be traded. Client will then fund his/her account and the trading will start. Contact Us for account opening procedures and we will get you in touch representatives at LCG, who will assist you in the entire process.
What does High Watermark mean?
At the end of the first month after your account begins trading, if there is a profit, the broker will deduct the performance fee/profit share, technically called the "incentive fee", that has been authorized on the Power of Attorney you sign when opening your account. Each month they will do the same. The incentive fee is a percentage of the net profits per month from the "watermark" of previous highs. If there are no profits in a given month, there are no incentive fees. The high equity point established after incentive fees are calculated creates the "watermark" which must be surpassed before any future profits may again be calculated. Example: you start with $10,000 in an account with an incentive fee of 40%, and during the month there is $4000 in gross profit. The incentive fee deducted would be 40% of $4000, which is $1600, so your net profit would be $2400, and your account would now have a "watermark" new balance of $12,400. If in the next month there was a loss of $1000, there would be no incentive fee deducted, since there is no profit, and your new balance would be $5084852,400. Your "watermark" is still $12,400. In the third month, if there was $3000 in gross profit, then the incentive fee would be calculated on only $2000 of that, since the first $1000 in profit gets your account back up to its "watermark" of $12,400. So the incentive fee would be 40% of $2000, or $800, and your net profit for that month would be $2200 (which is $1000 + $1200), and your new account balance would be the new "watermark" of $13,600 (which is $11,400 + $1000 + $1200).
What is your fee?
Our fee is a function of the account deposit and size. Read our Products page for more info.
How will I pay you?
You dont have to pay us directly and you will not be invoiced for our fee. Based on the commission structure agreed between Sunshine and you, broker will charge the fee from your account and credit it to us. As a result, when you withdraw funds to your Bank account, you withdraw only your profits and not the performance fee paid to Sunshine and thus you pay taxes only on your income.
Do you provide any guarantee of the return?
We dont provide any guarantee or assurances for returns. Forex trading is a risky investment and is not suitable for everybody. You should gauge your investment goals before investing in any kind of speculative trading. We only provide our performance reports which are available here.
What kind of returns can I expect?
Different programs aim at making different kind of returns per month. Returns are a function of risk and market conditions and vary from month to month.
How do I register with you?
Fill out our registration form by clicking here and in the comments section express your willingness to join our program and we will get back to you.
How do you trade my account?
We use a signed LPOA(Limited Power of Attorney) obtained from the customer to gain the trading rights for the customer accounts. The broker then allows us to trade on all customer accounts via one common integrated platform.
Is this Limited Power of Attorney Permanent?
No it is not. It is revocable in written.
What currency pairs are traded?
We trade almost all liquid pairs that are traded in markets.
Do you have access to my funds?
No. All your funds are held in your name only. A LPoA gives us only the trading rights and no access to your funds. You can deposit/withdraw funds from your account any time you wish like.
Where is my money held?
Your money is held in your name, in your trading account with the broker. We do not solicit money in our name.
What is the expected drawdown?
The maximum allowed Drawdown for different programs is as follows:
Phoenix: 25%, Y Axis: 20%, PipHunter: 20%, ForexLion: 15%
What is a Pip?
Pip is short for "percentage in point". Put simply, a pip is the smallest unit of price for a currency. It's the last decimal point in exchange rates or currency pairs.
What brokers are available?
We are currently operating only with London Capital Group,UK.
Are you an IB or Introducing Broker?
Yes, we are an IB to LCG.
What is the minimum amount to join Sunshine's Programs?
Our investment plans start with a minimum deposit of US$10000. Different programs have different minimum investment levels. More details here.
What is the start/close date to join Sunshine's programs?
There is no start/close date to join Sunshine. You can join us anytime you wish to.
Can I trade my account at the same time?
No, you cant. Once we get the trading rights to your account, only we can trade it.
Do you have any exit load or fee?
No, there is no entry/exit load or fee. You can join and leave anytime you wish with absolutely no overhead fees.
Do I have to open my own brokerage account in order to participate?
Yes you have to. All the money is held in your name in your trading account. In case you already have an account at the selected brokerages, you can transfer us the control.
How do I open a trading account?
Write to us for a detailed document over the same. Contact Us.
Can I choose my own broker and ask you to trade it?
No you cant. We operate with some of most reputable brokers in the industry and carry out due diligence before suggesting it to our customers. The brokers that we choose are very well regulated in their respective domains of operations.
How do I fund my brokerage account?
Depending on the type of account selected, you can fund your account in multiple ways and currencies. Read our products page for details.
Is there any lock in period?
No there isnt. But, we suggest you to invest with us for a minimum period of 6-9 months.
If I do not withdraw profits, do they reinvest-i.e. compound automatically?
Yes they do. Every month starting, the capital in your account is taken as base capital and is traded upon for the remaining of month. Thus, all the profits that are not withdrawn are reinvested and compounded.
Do I have to pay taxes on profits made in a managed FX account?
You will have to pay taxes on all the profits in your account in your country of residence.
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