Platform update: broker change, period history, fund history
It has been 3 weeks since our last big update, when we launched copy trading, entered the classic financial markets through an Exante broker and released a new level system.
As previously mentioned, we continuously work on improving the platform and today we are releasing a new update designed to enhance the experience for both investors and managers.
Change Broker
Up until now, programs had been tied to a single broker. In order to change the broker, the manager had to close the existing program and open a new one, thereby losing the trading history for that program.
But that changes today as managers will now be able to seamlessly switch brokers on which they trade without having to start over.
Initially, we will open the possibility of changing broker only on the FOREX side (Roboforex, Exante, Just2Trade). Soon we will also enable the ability to change the broker on the CRYPTO side as well (Genesis Markets, Huobi).
Step-by-step process:
- After clicking on “Change Broker” and confirming the operation, information about the details of the transition from one broker to another will be displayed. A “Cancel” button will also be available to the manager.
2. The manager may change his choice at any time before the end of the period and cancel the change of broker request. The manager may also resubmit a change of broker request later on.
3. After the end of the period, the standard period process occurs. All open positions are closed, the financial result of the period (profit / loss) is distributed among all program participants, according to their share in the program.
4. Next, the trading account is blocked, a new account is opened on the selected broker, and all the money is transferred to the new trading account.
The manager will be able to trade using the newly selected broker within 24 hours. The trading history and level of the program will remain unchanged.
5. An email is sent confirming the successful change of broker including information and credentials for the new trading account.
Notifications regarding the change of broker will appear in the manager’s “Events” tab on the dashboard.
6. All trading history and statistics are saved on the program page.
7. All investors who were in the program at the end of the period remain in the program.
8. The Manager can change brokers as many times as he’d like.
Note: a manager can change the broker but not the base account currency. If a manager has a USD account — he can not change it to BTC or any other.
While the broker change is the biggest update as it relates to this upgrade, we have also made some enhancements to the type of metrics available to both investors and managers.
Period History
Period History — new public tab on the program page, with information about the program periods.
Tab content:
- Period number;
- The date of the beginning and end of the period;
- Balance of the program at the end of the period;
- Profit in the program including commissions for the period;
- The number of investors.
Manager Financial Stats
Financial statistic — new page with the manager’s financial statistic for the period. Available only to the manager.
Tab content:
- Period number;
- Start date of the period;
- The balance of the manager in the program at the beginning of the period;
- Profit in the program including commissions for the period;
- Success fee — the total commission from the profit (from all investors), which the manager received in this period.
- Entry fee — the total commission from all investments in the program that the manager received. The commission is charged when investing in programs that have reached the third level.
- Deposit / Withdraw — the amount of all invested or withdrawn funds by the manager in a given period.
- GV commission rebate — the amount of the compensated commission (Trading Fee) paid from the GVT wallet. This tab is only for managers who have indicated in the wallet Using GVT to pay for fees (Genesis Markets).
Managers can export the whole financial history to excel for detailed analysis.
Fund Reallocate History
Reallocate History - a public tab on the fund page with information about all changes in the fund.
The Date column shows the dates: the creation of the fund and all reallocations.
You can also view the structure of the fund on the specified date.
As always, we are thankful for our community’s feedback and involvement. We keep you in mind every step of the way as we strive to develop a world class product connecting all the participants of the financial industry.
We will be back in touch soon with more news — see you then Visioners!
