FXTSP Review
Posted in FXTSP, Forex Signal on May 15th, 2005These guys used to offer a signal service, however it seems that they’ve changed their strategy and now only offer a managed fund service.
I admire this step taken by FXTSP as most signal service vendors if they were legitimate SHOULD offer a managed fund service for two primary reasons:
- Most people will not be able to trade ALL the signals that the signal vendor releases – life gets in the way
- More money can be made if the signal vendor takes a performance fee every month – think about it, if you have a successful fund that has assets of US$10m and you make 3% per month and receive a 30% performance fee you’ll be receiving US$90,000 per month. If you are selling a signal service for US$100/month you will need 900 active subscribers per month to achieve this same level.
It seems that FXTSP have also teamed up with FXCM to manage the client’s funds (which is good as the client does not need to place their funds into FXTSP’s account), and I’m sure FXTSP take the cut that FXCM offer referrers – and if I were them I’d do it too… can’t have FXCM making all the money!
Anyway, FXTSP are a smart outfit, as not too many signal vendors go the managed fund route. To me this speaks volumes.
If you currently have an account managed by FXTSP please add your experience below (click the “Leave A Comment” link, or start writing in the box)