FirewoodFX Adds Performance Fee In ForexCopy Service

Compared to other forex brokers, FirewoodFX recently launched its Copy Trading service. However, that does not mean that a program titled ForexCopy is less promising than Copy Trading schemes on other platforms. Slowly but surely, FirewoodFX continues to add various facilities that further support ForexCopy's performance, not only for Leaders and Followers but also for IBs who can benefit. How could that be?

Performance Fee for Leaders and Followers

Basically, the newest feature added in ForexCopy is a unique tool to make it easier for Leaders to set the fee they want. This facility is called Performance Fee and can be set up to 50%. Unfortunately, FirewoodFX does not explain further the function of this feature.

Suppose it is based on a similar facility on the Copy Trading platform in general. In that case, the Performance Fee can be said to be a Fee parameter that will be paid by the Follower as compensation for the trading carried out by the Leader. The fee can be deducted from profits when positions are closed with profits or in the form of periodic withdrawals that are paid separately from trading profit results.

Through the Performance Fee display, Leaders at ForexCopy can adjust how much Fee they want from Followers. In addition, the percentage of Performance Fee will be displayed on the profile page of each Leader so that Followers can see in advance how much Fee they need to pay if they follow a particular Leader.

This information can be accessed easily from the ForexCopy Leader list.

You only need to click on a "Nickname" to see a Leader's performance record. The following is an example of a Leader's profile page that shows his trading performance in terms of various parameters. Followers can take advantage of this service to monitor the most potential Leaders whose trades they can follow. Performance Fee information will appear in the upper left corner of the page, to be precise, in the MT4 Leader account info line.

Thus, the Performance Fee does not only facilitate Leaders to set fees but also makes it easier for Followers to obtain information that they can involve in the criteria for ing Leaders.

Leaders Can Also Adjust Rebate Portion For IB

Another new feature that FirewoodFX has added to the ForexCopy system is Rebates. This service allows Leaders to set Rebate percentages for IBs who refer their accounts to prospective Followers. Thus, Leaders and IBs will both benefit; Leaders can get new Followers, and IBs can get extra commissions for the promotions they do.

More than just a broker partner to introduce potential traders to brokerage services in general, IBs at FirewoodFX are actively encouraged to introduce traders to extra broker features. The method is also quite unique because before this, FirewoodFX partnered with IBs in the monthly trading contest they held by giving prizes if their clients managed to win the competition.

Now, with the launch of the Rebate feature in the Leader account system, FirewoodFX has once again integrated IBs in a unique way by getting commissions directly from the Leaders they promote. If you are interested in becoming a Leader or Follower in the FirewoodFX ForexCopy system, please register for a trading account here.