From September 1 2004, Forex Capital Markets LLC provides an alternative method to pay for your Pronet services.

You need to open an account with FXCM, and you have a choice of two approaches: (1) Tell your account manager at FXCM that you would like that firm to pay the Pronet subscription on your behalf, by charging you a US$10 commission per lot (US$100,000), round turn. Provided you generate at least $1200 in commissions each month, FXCM will meet the Pronet cost in full. This represents, for example, an average of six lots traded per day. Any shortfall at the end of each month will be charged by Pronet to your nominated credit card.

Alternatively (2), authorise FXCM to apply the Pronet "Traderoom" strategies directly on your behalf. In Traderoom, on a near-real-time basis, a dedicated proprietary FX trader is posting all of the trades he is executing each day. Drawing heavily on Pronet's research (but taken together with newsflow, fundemental and macro factors etc), since the beginning of June 2004 this trader, who has previously been a prop trader in one of the world's largest banks, has been trading the major currency pairs, generally applying risk limits of 30-40 bp per position. He is trading a live Pronet Analytics "House" account with FXCM.

An example of how you might use this facility is as follows.

You open a margin trading account at FXCM with $12,000, and ask to be provided with Pronet Research. You mandate FXCM to follow the Traderoom signals, leveraged 50 times. Each time there is a trade in the Pronet Traderoom, it is applied to your account simultaneously and you are charged US$10 commission per lot (US$100,000), round turn. This is equivalent to about 1bp per trade, and meanwhile spreads are always maintained at FXCM's very competitive levels (Eg EUR/USD 3bp). FXCM pay this $10 commission to Pronet, so provided there are at least six trades per day on average over the course of a month, sufficient commissions will be generated to pay your Pronet subscription entirely.

During June, there were 61 trades in Traderoom, which generated gross gains of 73bp (note, though, that losses are also possible). Your account, net of commission ($610.00), would therefore have been marginally down ($64.70). Where FXCM has your trading mandate, you would NOT be charged the difference between the Pronet subscription cost and total commissions generated - we assume this risk, and you continue to have access to Pronet. In this scenario, you save on Pronet subscription costs of $1200.00 per month, at a cost to your account of $64.70.

You could alternatively elect to trade the account yourself. In this case, at the end of each month Pronet would charge to your credit card the difference between total commissions generated, and the monthly subscription charge (US$1200). Any excess commissions during the month are applied to subsequent months' account.

Or finally, you could combine the two schemes - with one account traded from Pronet signals, in addition to your self-directed account.

If you are new to Pronet, and wish to try out our service, you can try it by clicking on the "Subscribe" button. You will need to enter your credit card details, but if you inform us within fourteen days that you wish to cancel, there is no charge. If you wish to progress (during the fourteen-day period), to take advantage of this offer please click on the "Subscribe" button again, enter your user name and password, and choose Option B in the Subscription Options grid.

Note that Traderoom may occasionally have open positions in all currency pairs concurrently. Pronet cannot advise you on your money management strategy and is performing the function of trading strategy provider to FXCM only.

For further details from FXCM, please contact: Francois Nembrini, +1 (646) 432 2224 or email fnembrini@fxcm.com. To open an account, click here.

If you wish, you can open a demo account with FXCM to try out the facility - for a 100k account click here or for a Mini account go to click here.