Major developments @ AFT – Long Term Planning In Place. AFT Review
Apologies for the lack of updates re the AFT service but there have been some major developments over the past few days.
Up until Wednesday afternoon i’d gained just short of 13% gain on my balance on what was my 13th day live trading, so pretty much exactly in line with expectations – but amazing nontheless!
There was then a message sent out advising of a big announcement and a halt on sign ups. The news was that;
AFT had agreed a MAM (Multi Account Manager) account with IC Markets which basically means there is no 3rd party involvement between the trade copier and the broker. Costs to us as customer for hosting of the copier is still the same though. Positive
Minimum required balance is now £1000 for AFT clients – thats not down to them , thats down to IC Markets criteria. Not really sure why to be honest and seems a shame that AFT were’nt able to negotiate this as a one off , especially as they have existing clients who are now excluded from the service moving forward. AFT have apologised about this and stressed there was nothing they could do if they wanted to ensure the stability of the EA copiers connection with clients accounts. Positive for £1000+ clients & Negative for £500+ clients.
US & Canadian residents cannot register for the service now. Decision was taken after consultation regarding the more stringent money management laws in these countries. There have been recent cases where signal services have been fined $150,000 for breaches of US regulations. Again there are clients now excluded but, whilst this is obviously tough for them, it shows the intent from AFT to safeguard the longevity of their service and this can only be great news for those of us in the UK & Europe lucky enough to be involved. Positive – unless you’re in the US or Canada obviously.
Just been an announcement this morning that the expected date the MAM will be a week on Monday, the 15th October. Bit frustrating as it is very enjoyable watching the trade wins rolling in but, obviously, they want to make sure its set up right from the outset rather than further delays down the line.
I was excited before this development but am even more so now – they’ve always said this is a long term plan with the intent of making a lot of people a substantial amount of money and these developments make those claims look even more solid. Roll on the 15th!
Let me know if you need any more info