The choice is completely up to the client as to what you do with the returns at any point in time. We are strong advocates of compounding, and due to the incremental nature of currency trading, the impact of reinvesting can result in a significantly greater outcome at the end of the year. The client can withdraw funds as they wish, though we strongly recommend advising us before doing so as withdrawing large amounts without notice could lead to a significant loss.
What if you go directly to my financial advice clients?Praline Ramirez2020-01-16T03:42:08+00:00
The minimum deposit for a client is $50,000 and the client must maintain a balance over this amount at all times. The minimum deposit amount is set at this rate to ensure the account stays within our risk parameters. Reducing the account balance increases the risk.
If we incur a loss one month, there is no fee for this period and the next invoice will only become due when the clients’ account has surpassed the last closing balance above the loss. E.g if an account reaches $1,000,000 and is invoiced, then a loss occurs, the next invoice for fees will only be payable when the end of month balance exceeds $1,000,000.
We don’t need investors. One of the most difficult decisions we have had to make is do we go traveling for the rest of our lives and live on our investments, or do we use what we have built to have a massive positive impact on the planet. The conclusion we came to is that we can do both.
Yes the risk of losing all your funds is real like with any investment. There are 5 main risks; strategy risk, technology failure risk, human risk, trading account risk and exchange risk. We have done everything we can to minimise these risks, though keep in mind no investment is ever risk free. If you would like to know more, request a copy of our risk management deck.
What security do you have in place?Praline Ramirez2020-01-16T03:47:54+00:00
Human error and carelessness is the main reason accounts get compromised. We use multiple tier access for all logins. Only select staff have access to all areas of our software. We also have software to deter and stop would be hackers. We take the security of our accounts very seriously and have adopted best practices.
During our onboarding process the client signs an agreement that allows their broker to automatically deduct our performance fees from their account at the start of each month for fees payable on the previous month. Symbiosis then issues the client an invoice marked as paid.
Do I pay performance fees if you lose money one month?Praline Ramirez2020-01-16T04:04:44+00:00
No, if we incur a loss one month, there is no fee for this period and the next invoice will only become due when the clients’ account has surpassed the last closing balance above the loss. E.g if the total balance reaches $1,000,000 and the performance fee is invoiced, then a loss occurs, the next invoice for fees will only be payable when the end of month balance exceeds $1,000,000.
The client has full control over all funds in the accounts at all times to add, withdraw and transfer between accounts. We do however request that if a clients wants to withdraw they notify us first as we may be mid trade and it could result in a loss if they withdraw at the wrong time.
What if the trading bots make mistakes and lose?Praline Ramirez2020-01-16T04:02:38+00:00
Trading algorithms are designed based on the way humans trade, except they have one big advantage, they don’t have emotions which cause poor judgement. In saying this we don’t just let the trading bots run. They are supervised by humans and a number of alerts are in place incase something is out of order.