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Program Details
How Trade Leaders Work
How Trades are Executed
Choosing Trade Leaders
Managing Your Portfolio
Your Portfolio Performance
Glossary Terms
Program Details
The Currensee Trade Leaders Investment Program is the first social trade automation service that that lets you follow and automatically execute the trades of the most successful traders from the Currensee social network while still maintaining full control of your trading account. You can see the actual performance of Trade Leader on the Leaderboard, decide who you want to follow and add them your personal automated Trade Leaders portfolio. You have control of your investment choices and allocation at all times, putting you in full control of your Forex investment strategy. You also maintain full control of your trading account and can choose to close individual trades at any time. In addition, you benefit from:
- Actual performance. You benefit from our research. We deliver each Trade Leader's detailed, actual performance. No back testing in demo accounts. No test accounts boasting fantastic performance. Just real performance in real accounts made by real Trade Leaders. Why? So you can make the most informed investment decisions and signal selections.
- Account controls. You allocate the funds to the Trade Leaders of your choice and can add or remove a Trade Leader at any time. You are always in control of your investment.
- Ultimate controls. Your trading account is always yours – you can make decide to close any trades executed by Trade Leader signals at any time, including the freedom to reject trades based on leverage used, pairs traded, and other factors.
- Success-based fees. You only pay a small service fee and any additional success fees are charged only when Trade Leaders make profits in your account. No hidden charges and transaction fees. Ever. A simple fee structure based on your success.
How are Trade Leaders chosen?
Trade Leader candidates are identified from within the Currensee trader network based on a track record of performance and appropriate levels of risk. Trade Leaders must have a significant track record on Currensee in order to be considered. Performance measures including cumulative and annualized performance and length of history are monitored, as well as risk measures including maximum drawdown, daily volatility and percent of days losing, before a candidate can become a Trade Leader. Once a Trade Leader is approved, Currensee regularly monitors the Trade Leader’s performance and risk levels for ongoing inclusion in the program.
Is there a performance guarantee?
As in life, nothing is guaranteed. While we can’t guarantee performance, we can guarantee that you don’t pay anything over the 2% service fee unless you win. We’ve also created a completely transparent way to view Trade Leader performance through the Currensee Leaderboard. It’s always real performance in real accounts and we review and approve every Trade Leader in the program. And remember, you’re always in control of which Trade Leaders are in your portfolio and you can add or change them at any time.
How much does it cost?
When you're actively following a Trade Leader, Currensee charges a 2% annual service fee based on the average monthly equity in your trading account. In addition, 20% of the profits generated in your account per Trade Leader based on the results of Trade Leader trades you followed are collected as a success fee to pay those Trade Leaders. These funds are automatically transferred to Currensee at the end of each month, so you don't have to worry about making this payment manually.
Will my performance be exactly the same as the performance of Trade Leaders?
In all likelihood there will be a variance between Trade Leader results and your results as an Investor. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, connectivity, volatility or other market conditions. You may also choose to filter trades based on leverage used, pairs traded, or choose to close trades early. This will create a further difference in trade leader performance correlation
How Trade Leader Works
How does the Trade Leaders program work?
You start by opening and funding an account with one of the Currensee preferred brokers. Once your account is open and funded, Currensee will link your trading account to your Currensee account, and you'll be contacted to confirm the account. You'll then be ready to select which Trade Leaders to add to your portfolio allocate your funds, set your controls and you'll be off and running.
Why do I need to open a new trading account?
A trading account at an affiliated broker is required for you to use our software to follow Trade Leader signals. Trade Follower accounts do need to have special permissions and other criteria associated with them that allow you to receive Trade Leader signals and trades. In addition, a new account will allow you to properly measure performance.
Can I use a demo account?
We only accept real, live brokerage accounts. Why? Currensee is all about real trades by real traders. It’s paramount to who we are as a company and to our philosophy that you can really only measure your performance based on real money and real-time performance.
How do I minimize my risk?
Currensee provides tools in the form of a risk score and volatility metrics to assess the risk of each Trade Leader, but you should consult with your personal financial advisor if you have questions about what amount of risk is appropriate for you. They may provide you advice on the amount of capital, performance goals, or amount of diversification that is appropriate for you to target. You will also have the ability to limit the leverage used in your account by using some of Currensee's Advanced Controls.
What controls are in place to make sure I don't lose all of my money?
As you know there are no guarantees in Forex trading. We firmly believe that, as with any investment, you should not allocate funds that you're not prepared to lose. Be sure you understand the risks of Forex trading and that the past performance of Trade Leaders is not a guarantee of future success. It's important to point out that you can re-allocate your funds, stop following a Trade Leader at any time, and even close any open positions in your trading account. In addition, Currensee has implemented a Risk Management Control to all accounts. The Risk Management Control automatically monitors your account and, if you lose more than the specified amount (typically 30% of funds allocated to a specific Trade Leader by default), Currensee will automatically remove your link to that Trade Leader, closing any open position to prevent further losses. We're focused on your profitability and give you full controls over your personal automated Trade Leaders portfolio. Please remember, the Risk Management Control feature is fully configurable, so you can choose to make this a lower number if you would prefer.
I don’t see my broker on the list, does that mean I have to choose another broker?
Although we would love to be able to offer the Trade Leaders program with all brokers this is not possible. To participate in the Trade Leaders program you do need to open a new, live trading account with one of our Trade Leader partner brokers.
Why do you need my brokerage account login credentials?
The Trade Leaders program is set up to execute trades automatically in your account. Currensee must have trading access to your account in order to do this.
How do I pay fees to Currensee?
Fees are automatically transferred from your broker to Currensee. You won’t need to worry about manually paying Currensee for service and success fees.
Why do I need to accept a Letter of Direction or Fee Disclosure?
The primary reason that the Letter of Direction must be signed is that we require permission for the broker to deduct service and success fees from your account.
What if your website goes down?
There are two side of our website – the member-facing side that you access, and the backend that connects to our trading partners and executes trades. In the very unlikely event that the backend is down, trades may not be executed. That said, if you believe the activity in your account is not correct due to system failure, please contact our Customer Support team at support@currensee.com.
How Trades are Executed
Do I always get the same price as the Trade Leader on a trade?
In all likelihood you will not receive the same price as the Trade Leaders. When a Trade Leader places a trade, the signal is automatically traded in your account per your instruction by allocating to the Trade Leader. If, however, the price moves too far from the Trade Leader execution price the trade may not be made. Our software does always pass along indication to close trades to your trading account to ensure that future changes in the market do not affect your ability to be profitable.
How long does it take for trades to get executed in my account? Is there a delay?
Follower trades are submitted electronically as soon as the Trade Leader executes a trade. Delays in connectivity or within broker systems are, at times, unavoidable. If a price moves too far away from the Trade Leader's price of entry, the signal will not result in a trade to your account.
Are trades ever missed?
Signals associated with Trade Leader trades may not always result in a trade to your account. In cases where the price has moved too much, the trade will not be filled. Trades may also be missed due to other issues, which will be communicated to you on the Portfolio Performance Tab Statement with the appropriate reason.
How are trades scaled?
Trades are scaled based on the amount of capital and lot sizes a Trade Leader trades and the amount of capital you allocate to follow the trader to ensure that trades are executed with a similar amount of risk and leverage for you.
What if a position is not closed?
You should contact customer support if you believe the activity in your account to be incorrect. In the event that Currensee makes an error, it will be resolved consistent with our Terms of Service.
Choosing Trade Leaders
How do I decide who to follow?
You can use the Currensee Leaderboard to see all the available Trade Leaders and decide which Trade Leaders you'd like to add to your portfolio. Please make your selections based on the performance and risk characteristic as well as trading style and strategy provided for each Trade Leader. Currensee can’t recommend who you should follow.
Can I stop following a Trade Leader?
Yes, you can stop following a Trade Leader at any time. Keep in mind that if you remove a Trade Leader from your portfolio any open positions will immediately be closed and no further trades that this Trade Leader makes will be executed in your account unless you choose to follow them again in the future. In addition, you always have full control over your trading account and can close positions as you see fit.
Can I contact the Trade Leader?
Trade Leaders are not financial advisors and therefore do not typically maintain personal relationships with those following them.
Will the Trade Leader contact me?
Trade Leaders will not know who is following them, so no, they will not contact those following their trades.
Can I cancel a trade myself?
This is your trading account, so you can, at any time, log into your broker account via your broker platform and manually close/cancel any trade that you wish.
Yes. Behind every strategy is a person, regardless of whether a strategy is automated or discretionary. Trade Leaders may make the choice to vary trading strategy depending on market conditions, success of the strategy. Please understand that the disclosed strategies in each Trade Leader Bio is indicative of the Trade Leader's typical trading, however, actually trading may vary based on the Trade Leader's view of the market.
Can I invest by following a trader who isn't on the Trade Leader list?
You can invest with Trade Leaders shown on the "Find Trade Leaders" page. We welcome your recommendations for adding a new Trade Leader. Please email your suggestions to support@currensee.com.
Managing Your Portfolio
What does allocations mean?
Allocations is your means of making an 'investment' in a Trade Leader. By allocating, you will be taking a portion of your available capital and earmarking it to follow the chosen Trade Leader.
How do I add a Trade Leader to my portfolio?
Visit the "Find Trade Leader" page to select the trade leader you think you would like to invest in. You are then directed to that trader's detailed profile page where you can do a thorough analysis and make your final Trade Leader selection. There is be a button in the upper right-hand corner of the profile that says “Select Trade Leader Name”; clicking this button will add the leader to the list of traders on your Portfolio Management tab. When you allocate capital to that trader, that Trade Leader's trades will start to be followed in your account.
How do I remove a Trade Leader from my portfolio?
From the Trade Leader screen, you can go to the Portfolio Management tab and click on the red 'X' next to the Trade Leader you wish to stop following. Once removed, any open trades will immediately be closed and new trades made by this Trade Leader will not be followed.
I'm getting an error that says "You cannot allocate less than the required amount of capital" What does this mean?
There is a minimum capital requirement that has been determined for each Trade Leader to ensure that you are not over-leveraged; if the amount of capital you allocate to the Trade Leader does not meet this minimum requirement, you will receive this message and be unable to save your allocation and follow the Trade Leader. You may need to de-allocate some money from other Trade Leaders or deposit additional funds in your account.
Do I need to allocate all of my funds?
You do not need to allocate all of your funds.
How do I allocate more funds to a Trade Leader?
On the Trade Leaders tab, you can see your current allocations to your Trade Leaders. By clicking on the Edit (pencil) icon, you will be able to edit the amount allocated to the Trade Leader. Saving the changes will mean the trades going forward will be scaled according to the new allocation amount. You may need to deposit additional funds into your trading account to have enough funds to allocate.
Can I use more leverage than the Trade Leaders?
You will be using our software to follow Trade Leader trades in your trading account, so you can customize the experience however you see fit. If you choose to, you can increase the relative leverage used in your account vs. that of the Trade Leaders. Please note that by doing so you will also be increasing the risk in your account relative to that of the Trade Leader. To increase your leverage used, please visit the Portfolio Management page and choose "Advanced Controls". Next, choose the Trade Leader that you would like to adjust, and choose the percent by which you would like to increase leverage. Increasing leverage by 200% will mean that you'll take on twice the risk as the Trade Leader, 200% will mean three times the risk, etc., You can also lower your leverage by choosing a number below 100%, resulting in reduced risk and smaller trade sizes.
Your Portfolio Performance
Will my performance be exactly the same as the performance of Trade Leaders?
In all likelihood there will be a variance between Trade Leader results and your results as an Investor. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, connectivity, volatility or other market conditions.
What kind of reporting is available?
You will be able to receive two types of reporting - a Statement containing the trade details and fees, and a Portfolio Summary which will provide aggregated summary-level information regarding your Trade Leader trades.
How do I measure my performance?
We provide a full investment summary on the Statement tab of your Portfolio Performance. You can export this report into Excel. You will also be able to track performance in the Portfolio Summary tab, by looking at the Realized and Unrealized gain/loss of your account or for each individual allocation.
- Open Time: The date & time a trade was opened.
- Closed Time: The date & time a trade was closed.
- Type: Type of position - long or short stance.
- Ticker: The ticker of the Trade Leader's account that is being followed; the ticker that the original trade was made on.
- Size: Lot size traded
- Currency: Currency pair traded
- Open price: Price at which the trade was opened, showing the difference between your price and the Trade Leader's price in parentheses next to it.
- Close price: Price at which the trade was closed, showing the difference between your price and the Trade Leader's price in parentheses next to it.
- Gain/loss: Total amount of the gains or losses made on the closed trade
Are the Trade Leader executed trades identified differently than the trades I put in myself?
Trades you add manually will not be displayed in the Trade Leaders Statement. All signals that are traded will show the same way in your broker statement whether you place the trades or the trades are executed on your behalf through the Trade Leader program.
Glossary Terms
Pip slippage – The difference between the price a Trade Leader receives and the price an Investor receives. Pip slippage can be positive or negative – positive slippage is a price better than that of the Trade Leader, negative slippage is not as good as that of the Trade Leader.
Unrealized gain/loss – total gains and losses for positions that are still open in your trading account. This is the same as Open P & L.
Realized gain/loss – total gains and losses for closes positions that are closed in your trading account. This is the same as Closed P & L.
Trade Leaders – experienced Forex traders with significant track records on Currensee who have shown to have consistent cumulative and annualized performance and have been reviewed by our Compliance Department.
Allocation – funds directed for the purposes of investing in the trades a specific Trade Leader
Ticker – Currensee-assigned symbol assigned to trading accounts linked to Currensee
Risk Management Control – method of limiting the capital that can be lost at any given time. Currensee automatically monitors accounts and if an account is losing more than 30% of funds allocated to a specific Trade Leader, Currensee will automatically remove the link to that trade leader, closing any open position to prevent further losses. Investors then have complete control to re-allocate funds to that Trade Leader to follow future trades if so desired.
Portfolio/Personal Automated Trading Portfolio – Collection of investments in Trade Leaders. Each investor participating in the Currensee Trade Leaders Investment Program has his own Portfolio.
Success Fee – fee that is charged for profits generated per Trade Leader. These fees are paid to Trade Leader for participating in the Currensee Trade Leaders Investment Program. Trade Leaders will receive 15% of the profits generated in your account based on the results of the trades you followed from that Trade Leader that exceed previous High Water Mark of past monthly profits generated. If there are no profits generated from a particular Trade Leader then success fees are not collected or paid to that Trade Leader. Success Fees are paid monthly.
High Water Mark – the highest profit level that must be exceeded before additional success fees can be charged. High Water Marks are determined by Trade Leader not overall trading account.
Service Fee – fee charged by Currensee for the administration of the Trade Leaders Investment Program. The Service fee is equal to 2% annually and is based on the average monthly equity in your trading account. Service fees are paid monthly at 0.17%.
TAI - a proprietary trader skill metric based on a 0 - 100 scale. It consists of the Performance Score (50% weight) and Risk Score (50% weight). A TAI greater than 60 means that historically the trader has proven to be consistent with positive returns and reasonable risk.
Risk Index - a propriety metric based on a 0-100 scale. We use a proprietary algorithm weighting the trader's Daily Volatility, percent Days Losing, and Maximum Drawdown percentage. Greater volatility, percentage of days with a negative return, and maximum drawdowns contribute to a higher Risk Score. A Risk Score less than 30 means that historically the trader manages their risk quite closely.
Cumulative Return - The ratio of money made or lost whether realized or unrealized relative to the amount of money in the account. The Cumulative return also takes into account any deposits or withdraws to present the true ratio.
