Hi Matthew,
Please help me answer the following questions from a subscriber (I think that I know the answer for question # 2 and 3 but I post them here anyway because I want to make sure that we are in the ssame page)…
I currently autotrade VN Forex Club with Bulldog on FXCM. I have a couple of questions regarding your free version of the signals.
1) Would I have to go through any changes, fill out any forms, etc. at Bulldog if I switch to the free-subscription version of VN Forex Club, or will everything just continue as usual with my autotrading?
2) Is there some other way that I am "paying" for this service, through larger bid-ask spreads, or anything else along those lines?
3) I assume all the signals are exactly the same as the NON-free subscription version, right?
Thanks!
Si Nguyen
- Regardless of what you do here on C2 (i.e. subscribe under the “free subscription plan” or the “pay per month plan”), nothing changes at FXCm/BulldogFX. Indeed, FXCM and Bulldog don’t know or care which plan you use here at C2, so there is no need to change any paperwork, nor any need to adjust any settings, over at FXCM/Bulldog.
2. No. Your bid-ask is exactly the same under either plan. Obviously, in the interest of complete disclosure, the business model between C2 / Bulldog / system creator is different. Under the “free subscription” plan, the trading system vendor does not get paid any subscription fees, but instead gets compensated by receiving a portion of 1-pip AutoTrading fee. However, regardless of which type of subscription plan you choose, the AutoTrading fee that you incur is exactly the same (1 pip). And your spreads and executions are exactly the same over at FXCM/Bulldog. Again, note that FXCM doesn’t know or care which plan you are on, and so they can’t and don’t treat you any differently.
3) Signals are exactly the same under both types of subscription.
Matthew
I asked a similar question by e-mail, but am repeating it here as the answer might be informative to other autotraders as well: Will anything change to positions that are currently open when switching to "free".
No. If you change your subscription type, neither positions nor order status will change in your FXCM/BulldogFX account.
Hi Mathew,
I need your help.
I am a system vendor.
I’d like to offer the ‘auto-trade’ for free.
I’d like to charge $39 per week (if profitable) for manual traders.
How do I set this up?
Kindest regards,
David Nickerson
If you choose to use the make-free-for-autotraders feature, then that limits the kind of pay-per-period model you can make available as an alternative.
Specifically, if you turn on allow-free-autotrading-subs, then you can choose to also allow a pay-per-month model (not pay per week), and you cannot also give a performance guarantee.
If you want to make a change to your pricing, given these constraints, please email me what kind of pay-per-month fee you want to allow (if any) and I will take care of it for you.
MK
Hi Matthew,
Do subscribers under the "free subscription plan" be able to view/see the open trades on the website? I hope that you only set for live auto trade subscribers (subscribers who currently set up auto trade on their real/live accounts) the ability to see open trades on C2 website.
Thanks!
Si Nguyen
Currently, AutoTraders can see open positions. My feeling was that this is okay. Do you think this is not a good decision? If not, why? I could, in theory, add a time delay before displaying open positions to AutoTrader-only subscribers.
I can be a little "over protective" but I think that some people can take advantage of this "free-subscription" option and signup as the Auto Traders (even they never intend to Auto trade the system on their live accounts) so that they can see the open trades of the system and then manual trade the system without paying for subscription fee. Thus, adding a time delay before displaying open positions to AutoTrader-only subscribers might be a good way to prevent that.
On the other hand, if a vendor all the sudden looses his mind and does something that he promissed not to do (e.g. adding to a position, overleveraging) then I want to be aware of that immediately. Perhaps delay the symbol but not delay the position size?
Jules,
If you Auto Trade the system, you can see the open trades as well as the lot size by checking your trading account at any time.
Regards,
Si Nguyen
Perhaps I don’t understand something, but if the autotrader can see the open posistions in his account, then how will not-showing the same information at C2 prevent him from copying it in a manually traded account?
C2 allow people subscribe to C2 Auto Trade system for free, even before setting up their AutoTrading account. Thus, some people might subscribe to those AutoTrading systems so they can view the open trades and never setting up their AutoTrading accounts.
I see.
I assume that the "Autotrade free" option is only for Gen 2 autotrading?
Yes.
