SKY Forex Money Managers program
|Type of Partner||Sub type partner||Requirements|
|Money Management||Money manager (MM)||KYC documentation, copy license(s) of operating domestic country, POA agreement between every client and the MM, clear statement provided to clients of existing conflict of interest for MM|
|Money Management||Corporate wealth management firm||corporate documentation of all owners, copy license(s) of operating domestic country, POA agreement between every client and the Firm clear statement provided to clients of existing conflict of interest for MM|
Processes involving the money Manager (MM)
Information providing website
The information that is provided on the SKY Forex Partners website covers everything that the money manager requires to know in order to make an educated decision on signing up with SKY Forex Partners program. This includes but is not limited to Rebate plans, requirements for opening an account, payment processing, tools offered, all reporting options, corporate information about SKY Forex brokerage. In addition, there is a clear view for the money manager how the process of signing up clients from his side work in addition to the additional documentation that is required for a client account associated with a money manager.
A Money manager goes to the SKY Forex partners’ website and fills in the required field on the signup page, which in turn created a default affiliation account. This includes name, email, country, and telephone (this is industry standard). after reading the terms and conditions which are available through a clear link on the registration form, the application needs to agree with the terms and conditions by clicking the appropriate check box, in order to be able to submit the account request. After which he will receive an email welcoming his to the program containing also a link that the new applicant is required to click in order to activate his or her SKY Forex partners account. At the same time, the account manager who has instantly been assigned is to contact the new partner in order to welcome and introduce the partner to the system.
The money manager then indicates through filing in a request for upgrading his account to a money manager account. At this stage, the account manager will directly contact the requesting party and explains the process and documentation required for opening the money manager account.
The account manager sends to the new money manager dedicated terms and conditions specially for the type of account (see attachment 3) which the money manager is to return signed to the account manager. This document will then be added to his/her account.
After the money manager transfers the required documentation (see table 8) and the documents are verified and added to his account the account is opened and the money manager is able to present clients to the SKY Forex brokerage.
At any time, we reserve as published, the right to block and Introducing broker account request on our discretion.
Money Manager Activity requirements and restrictions
The Introducing broker is to uphold all requirements and restrictions that are in the terms and conditions (see attachment 3 for the terms and conditions for a money manager account)
A money manager handles the funds for his clients. This requires the money manager to invite the client to join SKY Forex and provide proof that the client endorses the money manager to trade in his/her name using a POA (see attachment 4).
Every rebate ( commission) structure as mentioned in point 7 comes with clear requirements which are published in the dedicated commission section on the SKY Forex partners website in addition to the SKY Forex partners program.
Payment requirements and procedure
In order for the money manager to receive his commission, he needs to provide SKY Forex with the details to where the commission needs to be paid. This is possible through bank transfer (required all details of the bank account) credit card (required copy of the credit card) online wallets.
Once a payment method is inserted into the system, the affiliate is unable to make changed to the method without permission. At all times the affiliate has access to his account details concerning, payment history, payment status, earned commission to be paid, total commission earned.