MIMI FX 100 CLUB Frequently Asked Questions
DISCLAIMER: This isn’t a passive investment, investment platform, or trading platform. It’s not for those seeking to raise capital from investors or pool funds to join us. We exclusively seek individuals interested in learning to independently manage their trading accounts. We offer tools, training, and a trade copier for collaborative trading.
What is the initial requirement?
Ensure you have at least $4,000 in your trading account, hosted on a VPS where we will install MIMI FX BOTS for you. You are not sending funds to us for trading. You’ll need to open your own trading account with an offshore Forex broker (not in the U.S.) that offers a leverage of 500 or higher.
How do I join?
To get started, make sure your trading account has a minimum of $4,000 and pay the subscription fees. The account remains under your control; you deposit funds directly. We provide MIMI FX BOTS and training for monitoring. If you’re new to trading, you must attend an online trader training session with us. We also offer weekly live online classes.
Where should I open an account?
Choose a reputable offshore broker with a minimum leverage of 500, avoiding U.S.-based brokers.
Can I set up the account under a company name?
Yes, you can open the account under a company name, but this will depend on the broker you select. Be sure to choose carefully.
What are the monthly fees?
The cost is $1,584 per month. You can start with a 14-day trial for $299.99, and then the monthly fee will be $1,584 thereafter.
Why is there a subscription fee?
The fee covers the use of trading bots and/or human traders who will place trades on demo accounts, sending signals to MIMI FX BOTS.
Will you train us to trade?
Yes, we provide training on monitoring the bots and ensuring VPS connectivity.
Do I still need to monitor my account while using MIMI FX BOTS?
Yes, even though MIMI FX BOTS automatically copies trades to your MT4 or MT5, it’s still your responsibility to manage the account. The system includes stop losses, trailing stops, and take profit orders, but you can close trades manually when you reach a desired profit or use your own trailing stop bot. You can also customize the copier to even perform the opposite of the system if you prefer. You have full control to let trades run automatically or manage them manually.
FAQs about Financial Collaboration and Trading:
1. Can we pool funds from people in challenging financial situations to set up a trading account?
- No, it is strongly advised against combining funds without thorough research into the legal implications. Understanding and complying with regulations in both your country and ours is crucial before handling others’ money for trading or investing.
2. Is participation in trading considered a passive investment?
- No, if you are a U.S. or Canadian citizen or resident looking to generate income through trading with us, active participation in the trading team by providing input is required. Training will be provided.
3. Is it allowed to trade using someone else’s funds?
- No, individuals are required to establish their own trading accounts and manage them independently. We do recommend trading with others’ funds.