Many people have wanted to contribute to Phoenix, Hendrick, development of Phoenix or the types of causes that Hendrick suggested. The PhoenixFund is an attempt to focus these efforts, provide a nonprofit collaboration and keep Phoenix alive through focused efforts. At least, that is how I have understood the ideas and requests coming out of the community so far. This thread is here to provide additional information about the PhoenixFund, discuss the current activities, and focus the efforts where you want them to go.

A placeholder website has been created with basic information. No work has gone into design yet. Many of my thoughts are stil forming and writing them out helped solidify them. These are just thoughts from one member of a large team, and it will take the other team members acceptance or discussion to finalize the intent and functioning of Phoenix and the PhoenixFund.

I would like to thank Hendrick, he has done us all a great service. The users are really what keeps Phoenix alive, but we have had many outstanding contributions from people in the community.

People have specifically requested E-Gold as a means of donation, so E-Gold is the second payment service I set up. GoogleCheckout is the cheapest way to accept funds online (currently free) so that is recommended if you pay by credit card. Check and money order information are also published on the website. I will get EFT information published soon, I need to look up all of the bank routing information.

PhoenixFund has a separate bank account, and those bank statements will be published every month. The PhoenixFund trading account will have weekly performance ratings published with real money trades for at least one broker, demo trades for at least 2 brokers. Different settings may also be tested at the same time.

Profits from the trades will be split 50/50 between reinvesting and growing the PhoenixFund and contributing to charitable works. If you know of a charity that you would like PhoenixFund to contribute to, please let us know. Contributing members (on forums or donations) have more priority in choosing charities, but all suggestions are welcome. I propose the following conditions for funding:
#1 Nonprofit status in all countries that have nonprofit status as an option (we won't require a legal status that may not exist in some parts of the world)
#2 Published or shared financial information. Full disclosure is not required, but at least division of expenses between labor, officers, expenses, supplies, etc is required (in this proposal)
#3 Nonreligious charitiable works only. A religion may be involved if 0% of the money goes to people connected to the religion in any way. (This eliminates Salvation Army as a candidate.) An example that may still qualify would be the Christian Children's Fund for feeding children in Africa.
#4 At least a clear description of how the money will be spent. Normal funding procedures have very specific objectives funded, and more funds released as objectives are met.

Please discuss, propose, suggest! More information is currently on http://pf.bestforextools.com/ (I know it is horrible, I wrote it in something like notepad in under 30 min. It will get better, I promise.)

I also suggest that contributions can have specific requests: anonymity, tax deductible receipts, specific funding requests (Hunger, Environmental, etc) or directed payment (Phoenix development, Hendrick, Hardware for settings) and so on. All PhoenixFund money donated minus banking fees will be traded, and only a portion profits will be used for causes.

Feedback please!

reserved placeholder. Feel free to discuss!!

Daraknor, sound great!

I have one wish if is possible. Can you set up something similar as is that contest - so we could see (and compare) live trades.
(so we could see in realtime which possitions curently are (will be) open...)

That way, we may try to clone results with the same broker or others. Some may try to outperform officall set-up... this may result in a lot of fun... if possible

Mario

P.s.

Unbeliveable, how much energy you have since there are more projects (MM...) you are seriously working on. Hat down!

Will we be able to use PayPal also?

I'm programming MM related code for 2 people in MetaTrader and MetaStock. That is how I earn the money to eat. One project I'm not allowed to mention. The second project is a filter that searches optionable stocks in MetaStock for price level candidates, so you don't need to check hundreds (thousands) of stocks by hand in order to find trades. It is designed to be run with Murrey Math Trading Software and not replace it. Sort of a "search for trades" function.

Paypal charges nothing for personal accounts to receive money that is already in the paypal system. They charge about 3% for business accounts to receive money regardless of the source (credit card rates even if no credit card). If someone sends credit card paid money to a personal account, then they charge a little over 5%. There have been many scandals where Paypal has removed hundreds or thousands of dollars out of accounts that aren't even paypal customers. Paypal also provides a great deal of restrictions on transfers. If you want to prearrange a non-CreditCard Paypal transfer, please email pf@bestforextools.com and we will set up something. I use them, but *very* carefully. (Paypal is only aware of one account that has very little money in it.)

Yes, 'real time' results (better than the 15min delay in the contest) will also be available, but not immediately. Maybe in 1-3 weeks? No graph is currently planned. I plan to run the default settings on at least 3 brokers so we can point to them and say "here is why you aren't profitable" - stop using a thief for a broker. Maybe not so strongly worded, but honestly some brokers have... issues with their data. I would not be surprised *at all* if some brokers tripped trades to loose, and then counted your loss as their profit. I need to make a list of broker scams... one of these days.

I will make a contribution and I want to know if I am in title to receive a taxe receipt, personally and/or for my investment company. I am Canadian and I presume many other contributors will be from outside of the USA.

I also recently opened an account with FXDD. No money in the account yet. I would like to know how I can transfer the account to be under Phoenix Fund IB ?

Could you also explain the "IB" conditions or commissions the fund will received from FXDD for each account set up, transactions, etc.

If I am correct, in the future, it will also be possible to host Meta Trader software with Phoenix EA or others on specially set up professional servers. This should give the user's (contributors) a 99% up time and faster access to FXDD resulting in saving on some transactions. Please elaborate...

I hope many people will contribute to this very innovative charity Fund !

All the best to the people who make this possible !

The FXDD application process to list PhoenixFund as the IB is very simple, same application with "PhoenixFund" in the upper right. We have preapproval for becoming an IB, but we need to send massive amounts of documentation since this is a nonprofit business and not an individual as the IB. You may need to fill out the paperwork again with PhoenixFund listed as the IB after we are completely approved.

PhoenixFund will receive 1/4 pip per full lot traded up to 400 lots, then we might be eligible for bonuses. In exchange, PhoenixFund must provide technical support, main contact information, and so on. As an IB we have additional duties as well, I need to reread the (30+ page) agreement to create a full list. If we all help each other, this will be much easier to accomplish. There are brokers that pay a lot more, but we wanted the best broker not the best compensation.

One of the synergistic bonuses is that I will professionally host the IB customers at no cost, and then charge a special rate out of the IB funds for hosting the account. (I have to charge something, because they are completely separate accounts & they don't mix finances at all.) The discount on the hosting is also a tax writeoff for the hosting company if I recall correctly.

I have no idea what canadian tax law looks like. I know we can generate receipts for direct donations, I don't know if we can generate receipts for IB fees. Asking a Canadian Tax Attorney is highly recommended for qualifying donations as writeoffs in Canada. We provide an email receipt with TaxID #, address, qualifying date, receipt date, the clauses under which we are allowed to receive tax deductible gifts, a list of the applicable IRS Tax Codes, parent company information, etc. A paper receipt can also be created, and I will have the Dun & Bradstreet number for the foundation available later today.

I am very interested to know which countries share Tax Deduction status with the US, if any. I am hoping we don't need to set up nonprofits in all of the major high-tax countries in the world. It probably wouldn't be worth it for most countries, because of the fees and expertise required. Also, the larger and more complex this gets, the more hassle and alarms go off related to money laundering. We have a mountain of paperwork to fill out as soon as the first international transfer for more than $10,000 comes in. PhoenixFund needs to stay transparent and legimate.

Short version: if Canada allows it great, if not there isn't much we can do immediately. In either case we give all of the necessary information.

I sent out a sample receipt to M6M6 with the type of information that will be included. If anyone else has questions about the Tax Exempt status I can also forward them a sample. The official receipts will be PDF on a letterhead.

I will post, next week, the taxe exemption comments from our legal advisors for Canadians donations.

I want to help with some IB duties. Let me know what I can do.

I made a contribution to the fund...let's run this baby