Trading Fees and Commissions

The Futures Managed Account Programme does not charge a Management Fee. PIA firstcapital is remunerated by a rebate on trading charges from our brokers. The Forex Managed Account Programme (anticipated launch fourth quarter 2011) also does not charge a Management Fee and is remunerated by a rebate on a portion of the spread. 

Our schedule of trading fees for the Managed Futures Programme is provided below. The Fees and Charges schedule will be updated with target Forex spreads for the currency crosses traded in the programme, once the programme is launched.

There are no entry fees or exit fees.

Brokers may charge bank fees for transfers of money out of the account.

PIA firstcapital pays commissions to introducing brokers and agents. Information on commissions payable to brokers and agents is available upon request.

Performance Fees

PIA firstcapital charges performance  fees on net new profits earned on Managed Accounts. For the Managed Futures Programme, the performance fee is 30%, which is charged monthly on net new profits using a high watermark, or peak-to-peak method. For the Forex Managed Account Programme (anticipated launch second quarter 2011) the performance fee is 20%. More information on the calculation of performance fees and how they are charged are available upon request.

Download Schedule of Fees & Charges (PDF) here.