The FX Hoy Capital Management Starter Fund is now open and accepting deposits. For those clients who are unable to open a managed account with the required minimum deposit this option may be something to look into.

We have opened a trading account with FXOpen a fairly new broker who accepts e-currency as a deposit method. We tested several brokers who accept e-currencies and found FXOpen to be the best option for FX Hoy and it's clients.

FX Hoy Capital Management has been registered with the NFA ( National Futures Association) as an Exempt Commodity Pool Operator, NFA ID; 0398013, and our FHCM Starter Fund has been registered with the NFA as well under Pool ID; PO39366 / Exemption 4.13(a)(2). When the pool surpasses the legal depositor or total equity value the fund will be closed to new depositors and a new fund may or may not be opened.

Deposits can be made into the FHCM Starter Fund starting at $100.00 USD which is considered as 1 unit (0.04% of the overall pool). The maximum number of units that can be on deposit by any one depositor is 50 units. Deposits over $5000 will be referred to FXCM in order to open a managed account. Deposits MUST be made in 1 unit (100 usd) increments (plus the applicable 2% fee).

FX Hoy Capital Management will charge 2% on all new deposits to cover basic administration costs and costs related to Liberty Reserve itself. Withdrawals will be free of charge. No other fees will be charged to depositors other than our standard performance based fees which vary from 35% to 50% depending on the depositors overall equity balance.

More information can be obtained by heading to our blog @ www.fxhoy.com and clicking on the FHCM Starter Fund #1 link on the top right hand corner of the page.

Congradualtion on the launch of your plan. I'll keep an eye out on this one.

The idea here is to be as transparent as possible. If anyone has a suggestion please feel free to post it here.

I still feel a managed account is the way to go, however we have had several hundred emails regarding lower minimums, something that we simply can't do with individual managed accounts, thus we put together this Pool idea. I realize the pool/fund concept is not new, but I would like to make it as straight forward as possible so no one feels as though they are getting the wool pulled over their eyes.

Incidentally I haven't been by this forum in awhile and noticed my old thread was closed. I wonder why?

In any event just an FYI; We are accepting managed accounts from $5,000 USD through September as we await the completion of our web site. ( Man I am tired of saying that )

If you are interested in the pool, a managed account, our free signal service, or any of our offered services, and you have a question or two I would be happy to answer them here or you can shoot off an email to support@fxhoy.com

P.S.- Thanks for the vote of confidence Eager to learn, hope to see you around.

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In an effort to keep this as transparent as possible FX Hoy Capital Management has implemented the following;

1. Depositors will receive read only access to the trading account at FXOpen where they can verify; executed trades, balances, etc.

2. An available unit counter is viewable on the right hand side of our blog. As units are purchased this counter will be adjusted accordingly. The counter will be clickable and will redirect to a page showing a break down of units purchased. Information available here will include; The depositors LR account number, units purchased, transaction ID, time stamp on transfer to FXOpen, Transaction ID of transfer to FXOpen, FXOpen balance. If units are liquidated this too will be added to the information provided with applicable transaction IDs.

This should allow all depositors the ability to verify that all unit purchases are in fact on deposit with the broker.

I would appreciate any feedback should someone have an idea or suggestion on how to improve on this setup.

FYI - We have opened another signal provider account with FXTraderLink under the name "FxHoy_Mini". This account will mirror the trades taken in our original account, FxHoy, however each trade will only be entered with 0.2 lots or 2 mini lots, this will allow clients with smaller balances to trade with us.

Be advised that I still recommend a $5,000 USD minimum balance in order to trade using these new money management guidelines which would keep the risk to approx. 4% on each trade.

Our signal provider accounts are just yet another option you, as a client, have to invest with FX Hoy Capital Management. Whether you are a Starter Fund depositor, a client of FXtraderlink using our signals, or a managed account holder are main goal is your 100% satisfaction and we are here to answer any questions or address any concerns you may have.

Our short lived idea to open a pool for smaller investors has been thrown out. We thought we had a good grasp of the legalities after chatting with a few corporate attorneys with experience in this type of operation but it seems we were in over our heads. Our posting of this offering on this blog violated one or more of the exemption clauses stated by the NFA. Rather than attempt to rectify this we are going to discontinue the idea.

Every cloud has a silver lining however; We have decided to send all new managed account clients to Oanda. We originally posted during our early testing of the FXTrade platform that we where unaware that they did not allow hedging, which caused some concern as we occasionally use this tactic in a ranging market. This issue has been resolved as we have simply adjusted ourtrading strategies accordingly to not involve hedging. Our returns on the FXTrade demo have been inline with those on our other managed accounts so we are ready to go live.

The good thing about Oanda is accounts can be opened with as little as $1.00. (Though our minimum will be approx $1,000 USD) This will allow us to serve smaller investors as was our goal with the pool, and not fall into any pitfalls due to regulations and different countries laws regarding pooled investments.

We are in the process of getting the live accounts setup and we will make an announcement once we can being accepting live accounts.