Getting Started

Before getting started we recommend signing up with a rebates service if you have not already done so. This is free money just for trading forex and there is no reason why you shouldn’t receive rebates for trading. All of our live accounts are collecting a significant amount of revenue simply by being part of Cash Back Forex. Cash Back Forex is a very reputable company that always sends their rebates out on time.

Deciding how much to invest
Money management is one of the most important aspects of trading forex. Before installing Forex Envy you need to determine the amount of capital you feel comfortable investing in your trading account. This step is vital in determining which broker is best suited for your requirements. Now that you have an amount in mind, I want you to divide that amount by two. One half will go into your Forex Envy earnings account, and the second half will go into your savings account. Splitting your capital into two accounts is absolutely essential for the long term success of your trading investment. Forex Envy requires you to have the discipline to set aside 50% of your investment capital and place it into your savings account in order to ensure long term success in the forex market. In the Forum and Advanced Users section, we discuss some options for savings account. However for the time being, just set it aside.
Choosing the right live broker
Below you will find a list of brokers that we recommend for different amounts of starting capital:

Starting Capital of $300- $4,000: XM offers leverage of up to 1:888. With XM we recommend opening a Micro account. You can also open a Standard account but the minimum capital requirement increases to $7,000 for Power Long and $27,000 for HV Long. The maximum trade size limit is 100 lots, reason why we don’t recommend to trade with more than $4,000 USD in the Micro account. If your trading capital is higher than $4,000, we recommend opening multiple Micro accounts.

trade fort
Starting Capital of $300- $20,000: Trade Fort offers 1:1000 leverage with no max on account size. Trade Fort does not have a maximum deposit size, however we recommend using accounts under $4,000 because of their max lot size limit. Keep in mind you can always open more than one account. Trade Fort offers 5 digit “Flex” spreads as well as 4 digit fixed spreads. We recommend opening an account with their Flex spreads however we will provide settings for whatever set up you pick. Please be sure to choose the USD Cents account when signing up. NOTE: With a $300 starting capital you will require at least a 20% bonus to be activated.

insta forex
Starting Capital of $300-$5,000: Instaforex offers 1:1000 leverage and has no limit on max account size. Instaforex offers fixed spreads that work well with Forex Envy. The only limitation of Instaforex is that they only let you deposit a maximum of $1,000 per micro account. Multiple accounts may be necessary if you want to go beyond that. Please be sure to select the Standard Cent Account. NOTE: With a $300 starting capital you will require the 30% sign up bonus.

Lite Forex
Starting Capital of $3,000- $500,000: Lite Forex PAMM Floating Spread accounts are an excellent option for those with higher amounts of starting capital. The spreads are very good for all pairs and the leverage is 1:500. They have a great rebates and bonus program too. Lite Forex is an excellent broker to use for Forex Envy. NOTE: With a $3,000 starting capital you will require the 30% sign up bonus.

FX primus
Starting Capital of $36,000 or more: FX Primus A high leverage of 1:500 upon request and great ECN spreads as well as fixed and floating spread accounts. FX Primus is a great broker and is good choice for those with sufficient capital to open an account.

There are other brokers that suit Forex Envy, however these are the brokers we know work well and can recommend confidently. If you have another broker in mind please email support@forexenvy.com to verify compatibility with Forex Envy and your broker.
  install guide 4.0 Note: Before you begin you will need to install your brokers Metatrader 4. Once this step has been completed you will be ready to install Forex Envy 5.0 Check our Installation Guide Video or follow carefully the Step by Step guide:

Installation Guide video
(click to view video)
 
Supported Long Cycle pairs: EURUSD, GBPUSD, EURGPB, EURJPY, USDJPY, AUDNZD, AUDUSD, NZDUSD, USDCAD, GBPCHF(new), USDCHF(new), EURCHF(new)“, Supported Short Cycle Pairs: EURUSD, GBPUSD, EURJPY, USDJPY, USDCAD, AUDNZD(new), EURGBP(new), EURCHF(new)


The basket exposure indicator is a very useful tool that every member should install after Forex Envy 5.0 has started trading. The Basket Exposure indicator was originally created and coded by one of our members that has his own website http://umeku.com/fx/basketExposure/ and was kind enough to assist us by creating a custom version of his indicator for Forex Envy version 5.0 that all members can now enjoy!
Installation Guide
(click to view video)
Quick User Guide
Deposits: Type in the initial deposit on the account in order for the indicator to show the correct ROI. Bonuses: If you have a bonus in the account, input the bonus amount here. Withdrawals: If you have made any withdrawals, input the sum of all the withdrawals here. Balance Multiplier: If your account is a Cent Account, set the Balance Multiplier to 100 in order for the indicator to show the balance in USD and not cents. Bonus Included in Balance: Set to “True if your broker is adding credit funds to balance. Reduce Margin Balance by Bonus: Set to “True” if your broker will withdraw bonuses when margin level becomes low. Time Shift: ResetMaxMarginUsed: In order to reset the Max Margin Usage, set this option to “True”, click OK and then set it back to “false”. ResetMaxDD: In order to reset the Max Drawdown, set this option to “True”, click OK and then set it back to “false”. ResetMaxValuesEachWeek: When set to “true”, it will reset the Max Margin Usage and the Max Drawdown at the end of every week. AlertOnNegativeBasket: It triggers an alert whenever a basket shows a negative potential profit. Set to “False” by default. PlayAudioNotificacions: When set to “true”, it will play an audio notification whenever a new level is opened or when a basket is closed by reaching the TP. Set to “False” by default. AudioOnBasketOpen: Enter the name of the audio file you wish to play when a new level is opened. This file will be loaded from the Sounds folder inside the MT4 directory. AudioOnBasketClose: Enter the name of the audio file you wish to play when a basket is closed. This file will be loaded from the Sounds folder inside the MT4 directory. Alert Level: This value is set to “7” by default. It will warn you with a red rectangle for the baskets that are level 7 or higher. You can choose at what level to trigger the warning. NegativeBasketAlertDelay: The amount of seconds that the Negative Basket Alert will be displayed. NewBasketLevelAlertTimeout: The amount of seconds that the New Level alert will be displayed. BasketCloseAlertTimeout: The amount of seconds that the Basket Close alert will be displayed. If you have any questions about how to set up version 3.3 please contact us at support@forexenvy.com Once all nine Long Cycle pairs have been loaded you should be 100% up and running.
Opening your Saving Account
This is one of the most important steps in our trading strategy. Even though Forex Envy will not be controlling this account, this account serves a vital purpose in our long term trading strategy. There are several reasons why it is better to have a Saving Account as oppose to just withdrawing your funds.
  1. It is free and fast to transfer funds between trading accounts inside your broker, while withdraws usually have a fee.
  2. When you do choose to withdraw funds, you will only be paying one withdraw fee, as oppose to one withdraw fee per Earnings Account.
  3. Brokers are less likely to take away or reduce your bonus credit if you are transferring internally, as oppose to withdrawing funds from the broker.
  4. If you have to withdraw funds every week you may be encouraged to skip weeks because of the fees and time necessary to initiate and confirm a withdraw. Internal transfers take less time and therefore will encourage you to follow our instructions and transfer funds on a regular basis.
  5. It is likely that your savings account will help generate a small but compounding income stream through the use of low risk, low return EAs.
  6. Having funds in your Savings Account is like having funds in a bank account. You are less likely to spend it and more likely to use it for its intended purpose. Investment.
  7. If you need to open more Earnings Accounts or restart an existing Earnings Account the funds will be ready for use, saving your time and deposit fees.
  8. It will give you a very clear picture of how much Forex Envy is earning for you. It is psychologically important for every trader to see their winnings grow!
  9. The chance of a trader taking an excessive risk like putting all of their funds into Forex Envy and not withdrawing their winnings is increased due to the lack of structure.
  10. Some brokers actually pay you a health interest in keeping your funds deposited with them.
Disclaimer
In order to qualify for the 110% Guarantee you will need to choose one (1) live or demo account to run uninterrupted for the entire 30 day trial of Forex Envy. Please enter your demo or live MT4 account number into your Profile. We recommend running Forex Envy with a VPS so you don’t have any interruptions that may cause losses. If you have set Forex Envy up correctly following our instructions your trades should be very similar to our live account’s performance. For the first few days of trading before any “baskets” have been created by Forex Envy, your results may differ slightly; however, after the first week of running Forex Envy your results should be very similar to our live accounts. If you have any questions about setting up Forex Envy or the 110% Guarantee feel free to ask us. For a better understanding of how Forex Envy works and advanced discussion on settings and strategies, please visit our Members Forum and our Advanced User section to learn more. Once again thank you for joining Forex Envy. If you have any questions regarding the installation of Forex Envy don’t hesitate to ask us! Happy Trading, Team Envy

Comments are closed.