IX Global doesn't touch your broker account, the only thing connected is the automation service so you can withdraw and deposit as and when you want. What you earn in your trading account is yours and you deposit and withdraw from your broker account as you like.
However to benefit from the opportunity to increase your lot size and compound interest -it's best to keep all your equity in your broker account. If you do withdraw try to limit it to about 30% but really its up to you!
The power of compound interest
When we understand it better we can see how when applied to our own money it benefits us in the long term so our money works harder for us.
Use a compound interest calculator to help you see how it can help your money grow.
You will also understand better the interest you pay for the debts you may have and see how banks are making a lot of money using compound interest on your accounts. this particularly applies to credit card debt.
Key Automation Question: 'I am a bit concerned knowing the membership fee is US$180. To me, it sounds very high?'
This question happens a lot and it stems from those who are thinking about starting with a small investment of say US$1000 - US$2000 account.
I started with a small account too and like this question i did wonder if the fees were justified. With some research I concluded that yes the fees was justified and I would still start with a smaller account.
Here's my answer:-
a) I'm paying for access to knowledge, experience, their time and insight.
If I had been trading on my own from January I believe that I wouldn't have made the returns I would have made. I would have cleaned out my intitial investment and walked away saying 'I can't trade'. I would have wasted my investment.
Instead I looked at the membership fee as the price I pay for using the services of an automated trading service and the use of professional traders who do this on a daily basis. Their experience, insight and skills out ways me completely. It would take me years and spending hours reading and learning charts to even get close to what they can do. So for me, that US$180 pays for that experience I couldn't achieve in the short term. Plus its not just one automated account you get, its two so US$90 per account to generate an income on my savings is just brillant.
I started trading with at US$2K account and each month I have had consistent growth that would have only been achieveable if I had paid for their service to do that. So for me I see it like paying for an actiivty now that will benefit me in the long run and with time that cost of the fees will be outweighed.
b) This is a long term solution not a short term 'get rich quick scheme'
How does US$180 equate over the longer term. Lets good at some hypothetical numbers and time periods.
Let say you want to start your account with US$3000. You have seen that the current return on growth has been around 5% per month. Your membership costs US$180 per month.
On month 1 this doesn’t add up. That doesn’t work at all and makes no sense in the very short term.
But let’s look at its longer term.
Let’s look at it over the first 12 months and then 5 years. We will also benefit from the powers of compound interest which is another useful tool in income generation.
Using the compound calculator and these numbers
First year term
Now 5 year term
So using these hypothetical numbers the long term effects of forex automation and compound interest are beneficial and thus makes your monthly investment in your own financial education and your our source of wealth generation more feasible. Please note the % growth could be less or more over the time frame, but forex trading is a long-term investment and should be looked at over a longer time frame than a day to day activity. In this hypothetical situation I haven’t considered LOT sizes either which would increase your portfolio too.
JAKE DUCEY - HIS OVER VIEW OF THE BOOK 'UNSHAKABLE' BY TONY ROBBINS & the 10 best ideas for you to use to become wealthy and build financial freedom.
Jake Ducey is a recent entry to my 'people to listen too' list. I discovered him about 6 months ago and have watched a lot of his videos of him sharing knowledge, insight and experiences. For me he blends together a lot of some of my favourite inspirational people which I totally love.
The subject of money growth is on my mind a lot these days as I find more ways to generate a passive income, become more financial literate and understand financial concepts that will better our future. Its a bit of a journey and so any additional help to make better sense of this path is always useful.
Jake did a review of the book 'Unshakeable' by Tony Robbins. A book I haven't read so I was keen to listen to his review and his take on the key points he took away and how they can work for us. Here is that video and its worth keeping thsi book tagged in your YouTube library and come back to it often as a reminder. Let me know what your favourite take away is.
August 11th, 2020
This actually does happen now, every day. Monday through Friday I see more dollars drop into my forex account.
About a month ago I shared on Facebook that I had started learning about forex trading, learning new terminology, setting trades, using an automated trading tool.
5 months in and I have to say this really is a positive experience. While I've been learning about trading, I used an automated trading service to grow my account and it has been running nicely! On average I've seen around 5%. July we were just under at 4.26% but overall I've been pleased with these results.
Alongside this income growth, I've also benefited from compound interest too! So this has actually been a worthy strategy for us. Making our money work for us is actually something I can understand now and has been a big mindset shift for me too! My bank says 0.01% which I'm supposed to be excited about!! NOT!!!
Wherever you are on your income journey, do take a moment to take a look at options like this and see if it's for you? If you are interested let me know.
See my results so you can see for yourself. These are my own results. Returns are not guaranteed and any capital is at your own risk.
I serve people who want their money to work harder for them instead of it sitting in the bank.