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Originally Posted by pipdetector  Collective FX looks really interesting. I am only concerned with the monthly fees... Even in case of the smallest accounts they amount to almost $1800 a year. |
Right now, I am under the impression that the extra profit that I make will more than make up for the fees.
Take last night as an example. My live account had one MD trade that lasted a long time and ended up with a measly $2 profit and no Channel Scalper trades. My
CollectiveFX account took six trades. Two MD (for a healthy 10.2 and 12.2 pips) and The Channel Scalper took four trades (three at 4 the usual pips and one at 4.8). CollectiveFX raked in over 5%. On top of that, I realized last night after the Asian window that my Channel Scalper settings were wrong for the broker. The time frame was off by an hour and, in addition, the risk was set to half of what I have it on my live account.
Based on one day's trading, the profit difference is within $2 of paying for the tier 9 one month fees.
Now I don't want to go berserk here based on one day's trading and the fact that the CollectiveFX account is a demo (one comment that I kept reading about with CollectiveFX is that their demo account closely mirrors a live account) but there is a substantial difference. Time will tell. I am going to closely watch the progress of the CollectiveFX account verses my live account over time and I suggest you do the same.
Rick