Lucrative? Is Forex trading worth investing in? Here are some interesting questions I have found and their answers from a company I will choose for my own Roth IRA account …
Does Quantum Bots offer anything specifically designed for small accounts, like $1,000?
No. Accounts of this size are difficult to manage because lot sizes can only be reduced so far. So a $1,000 account will always run a higher risk of margining out because the account may be forced to utilize most or all of its capital just to open a single trade position, whereas a $10,000 account will only be using a portion of its available equity in any trade.
How do I know what trading account size to select?
Simply select the account size you have decided you will be starting with, leaving room for growth. For example, if you’ll be starting with a $25,000 trading account, don’t select the bot with a $25,000 max. You’ll likely exceed this on week one and have to upgrade. If you’re beginning with a $25k account, the $50,000 or $100,000 option might be right for you.
What Quantum Bot setting should I select (conservative, medium, aggressive) and can these be changed later?
Your Quantum Bot will come pre-programmed according to the setting you choose, and this is a personal choice. All of our historical performance data utilizes our aggressive settings. So, if you’d like to match that average drawdown and monthly return size, stick with aggressive. If you are more conservative, choose conservative. However, we do recommend larger accounts ($100k+) when using conservative settings. Don’t be greedy is a good trading mantra to live by.
How much does it cost to upgrade my license to the next highest account threshold?
You will pay the difference between your current license level and the new level selected (according to current pricing), plus a $500 license re-activation fee.
Why do you charge a monthly maintenance fee?
Your monthly maintenance fee keeps your Quantum Bot license active and covers expenses such as customer service and any ongoing updates we may elect to incorporate into your bot(s).
What happens if I don’t pay my monthly maintenance fee?
If your maintenance fee is 7 days late, you will be sent a payment reminder. After 14 days, your license key will be switched off. If paid within 7 calendar days of your deactivation date, your license will be restored at no cost. After this 7 days (a total of 21 calendar days from the fee due date) reactivation of your license key will require a re-licensing fee of $500 will be charged, in addition to any outstanding monthly maintenance fees.
How do I set up a brokerage account?
This isn’t something we can help you with directly, but we are working on a range of educational materials to help you select the right broker. If you don’t know where to start, here are two articles that will give you some basics:
https://www.investopedia.com/articles/forex/11/how-to-choose-a-forex-broker.asp
https://www.earnforex.com/guides/7-things-to-consider-when-choosing-forex-broker/
If you’d like a short list of brokers we have seen success with, feel free to reach out. However, be aware that Quantum Bots, Quantum Capital, and our agents, affiliates, officers, and so on have no connection whatsoever to any brokerage, take no responsibility for, and cannot be held liable for, any losses which may arise due to the choice you make when selecting a broker.
Can I use a Quantum Bot to manage a self-directed IRA or 401K?
In short, yes – of course. However, this would require you to find a custodian who can help you open a FOREX brokerage account tied to your IRA or 401k. We do have a few resources we can share that may be able to help you set up a custodial account. Reach out to us if this is something you’d like to set up.
What advice do you have for beginner traders or investors?
While we are not credentialed to provide investment advice, and do not in any way, shape, or form do so, we can and should say this:
Continually diversify your investments over time.
Systematically diversify your brokers, trading systems, and investments over time. Just because one system on one broker is performing well doesn’t mean you should go “all in” and let it ride forever. This will take time to do… if you’re a beginner, odds are you’ll be setting up only one account on one brokerage. That’s ok! But you want to have a plan in place to continually diversify.
Quantum Bots is dedicated to continually releasing the world’s best trading software. As we release new software, you will be notified. It’s a good idea to get several systems going on a few different brokers. Over time, you will then have 4 or 5 systems on as many brokers. This provides much better risk management than a single system on a single broker, where any issue with that one system or broker could cause you a significant financial setback.
One good strategy is once your initial starting capital has doubled (for example, $25K has grown to $50K), withdraw the initial investment (in this example, $25K) and reallocate it into another system on a different brokerage. Now your original account is trading “house money” and you have a second investment that is completely disassociated with the first. You are beginning to diversify. If you follow this process of reallocation, over time you’ll create a well diversified personal trading portfolio.
Wealth is not built overnight. People who advertise get-rich-quick schemes are doing just that: scheming. Wealth is built over time through consistency and continually increased diversification. If you’re consistent, you only need to maintain it and be patient; you will reach your goals. If you’re greedy, you drastically increase your risk. Create a planned method of operation for your investments that fosters consistent capital growth and increased diversification over time and stick to your plan.
Do not trade with money you can’t afford to lose. This doesn’t mean you should let fear stop you from taking any action at all, but it does mean you should act with diligence and care to protect your assets. If you have doubts about what is the right level of investment to make in your trading account, seek professional advice.
Isn’t FOREX a scam?
FOREX is the foreign currency exchange market that banks use to move, on average, over $6.6 trillion US dollars per day between institutions and across borders. If you’re alive and have a bank account or a credit card, you’re routinely taking part in the FOREX market without even realizing it. So no, “FOREX” is not a scam.
However, because FOREX is a global marketplace, there are no overarching international laws which regulate and protect retail traders like us. The United States has some of the strictest limitations on retail FOREX trading, which has only made the situation in the US worse by creating a vacuum that has forced many American retail traders to fall victim to the actions of disreputable offshore brokers. This is why selecting the right broker is of the utmost importance to the security of your account.
Fortunately, as the popularity of FOREX trading has increased drastically, so has the selection of reputable brokers. If you find a broker who is regulated in a reputable and politically stable jurisdiction, has been around for many years, and has a good reputation, your investment is likely as safe as any investment can be. If you elect to go with an unregulated broker or a broker known to B-book trades (as examples), you are putting your money at increased risk.
Please let us know if you found this report helpful.
Best Regards,
Mark Whittaker, CEO
Las Vegas Corporate Offices
+1 (702) 664-1438
Cell: +1 (458) 265-7008