Damon Hunt here to give you the low-down on this project.
First off, is this illegal and/or a scam????
Absolutely not! The account is a real PAMM managed account. An investor needs to open a personal trading account with the brokerage to gain access. The investors money stays with the investor. All the back end money stuff is done by the brokerage. *It is a massive well known brokerage, they have all the legal rudiments in*
Am I scamming the traders (not paying them after the fees are collected)????
Why in gods name would I do that? If I did not pay the traders I would not have traders... that is sure suicide. It is very difficult to get good traders into a group (like herding cats). I treat them like royalty.
What about the affiliation side????
Bullet proof, it is all taken care of by the brokerage again. Each affiliate deals directly with brokerage.
Now, as for the risk in trading, is my money safe????
There is always risk in trading, I am trying to mitigate some of the risk by having many good traders doing many many trades, all taking tiny chunks out of the market.
By the way all those tiny chunks of market we nip at add up to huge gains with a minimal risk.
- To bring the best of the Forex Traders into a single Managed Account. For the mitigated risk and increased benefit of the investor and the trader.
The Traders here are extremely well rewarded. 100% of the profits (30% high water mark fee) gets divided amongst the traders on a productivity basis. Remember they do not have to do anything but trade the account they are already trading. I could even use traders already employed elsewhere so the traders would earn a double income, with no added work!
So then how do I make my money?
As the manger I do not take compensation, but as an affiliate, an investor and a trader I am handsomely rewarded, as you will be too :)
Investors can invest for as little as $100
As a successful Forex Trader (I am one of the traders), as a successful managed account manager, as a promoter of http://fundsforexmanaged.com and as an investor who seeks the best investment for his money, I am well qualified to lead this Managed Account.
I understand the Trader.
I understand the Investor.
I understand the supreme importance of money management and the power of compounding.
I understand the Affiliate.
I think you will find the best of all worlds here, Welcome :)