Here you will find answers to the most frequently asked questions about Follow MyTrader.
‘Follow MyTrader’ is an app on which you can follow a star trader and have his or her transactions performed in real time in your securities account with a single click.
No. ‘Follow MyTrader’ is deliberately aimed at everyone. The guidance throughout the process was designed so that people with trading knowledge as well as people with little trading knowledge can easily follow a star trader.
Yes, the star trader also has a securities account at a bank connected to the platform and trades his or her own money. That means the gains and losses made on his or her trades are the star trader’s genuine gains and losses.
The minimum amount is €100.
Information can be pinged in three ways: 1. Push notification to your smartphone 2. SMS to your smartphone 3. Email to your saved email address. You decide the setting you prefer or if you want communication through all channels and you can record your preference in your personal settings on the app.
No. You will be informed of an upcoming transaction and then have the option to trade together with the star trader on the same terms or the option not to trade. You decide.
You can follow with an amount of €100 or more. You can adjust the settings so that you follow with an amount that remains the same or follow based on a percentage amount.
Yes, the follower receives a sell recommendation when the star trader decides to sell his holding.
You would receive a sell recommendation if you followed the original buy recommendation. If you do not hold a position in the specific underlying, you will not get any information.
So, if you receive a sell recommendation, you can decide whether to follow or not.
Yes, you have the ability to sell existing positions at any time regardless of whether they are still held by the star trader.
Yes, normally you can follow as many star traders as you wish.
The purchases you have made are already deposited into your existing securities account and remain in there until you decide to sell them. Whether or not you follow the star trader in the meanwhile does not make a difference.
Yes. You can exit from an investment position at any time. On the position details page, you will find a corresponding button to sell your position. When the sale of your position is completed, the money will be available to you for redistribution. The money will remain in your brokerage account if you do not reinvest the equivalent value.
No. The subsequent adjustment of trade limits is not intended in the Follow MyTrader concept. If you follow a sales recommendation only after a while, the follower can cancel the current sales order free of charge and determine the position himself, whereby he can set his own sales limit here.
If the “autosell” function is activated, a customer’s trades are automatically closed as soon as the associated Star Trader closes the corresponding position in his portfolio.
Activating an “auto execution” function means that a trader’s corresponding trades are automatically closed as soon as they have reached the associated limit (take profit or stop loss).
When a trader buys, a buy is also carried out for me. An additional activation and parametrization needs to be set for every trader, whom I want to follow to also buy automatically.
No. The adjustment of stop loss and take profit by a follower is not intended in the Follow MyTrader concept.
First, the determination of a user’s risk class serves to illustrate the proportionality of his trading habits in connection with his intentions for the affiliated bank. It also serves to protect the user. If the trader wants to open a trade that has a higher risk than the risk classification based on his information, the user will be informed accordingly.
Yes, in the sales dialog you will be asked for each sale how many pieces you want to hand out and to what limit.
In the event that you only follow a sell recommendation so late that the limits set by the trader have already passed, you can cancel the transaction at any time and bring the shares to the market yourself and with your own sales limit.
The Star Trader specifies the period to follow. If the period has expired, it is no longer possible to follow his recommendation. In this case you will receive a message that the recommendation is no longer valid.
All star traders have successfully undergone a selection procedure overseen by the FELS Group. Critical to this is that the FELS star traders have many years of experience and a stellar track record and trade independently. Furthermore, the FELS star traders are registered with the German Federal Financial Supervisory Authority. A list of all star traders can be found on the app.
You have access to a maximum of ten specially selected star traders. You decide which ones you follow and how many. It is possible to follow all ten.
You can learn more about the star traders on their profile page on the app. You can also find posts and videos about the star traders on the platform.
Yes. You can contact your Star Traders directly as part of regular webinars and FELS live events and join in the conversation with them.
The cooperation between the star traders and the FELS Group is designed to be a long-term partnership and is governed contractually. However, if a partnership must end for some exceptional reason, this will take place with sufficient advance notice and corresponding communication to the star trader’s followers. Your securities account and positions will of course remain unaffected by any of this.
If a star trader goes absent unannounced, there will be no impact on your securities account and positions for the time being. You will have the option to sell or retain your positions. Should a star trader not be able to work for the platform for an unexpected, extraordinary reason, the FELS Group will appoint a new, well-qualified star trader.
The trader statistics provide the viewer with information about the performance of a trader in a given period, as well as its fluctuation range and the number of newly gained or lost followers on the platform.
Registration is required to invest your money. You will be guided through the onboarding wizard to register quickly, easily and transparently. The onboarding wizard will record your personal details and your risk appetite. Furthermore, we enter into a contract that engages and entitles us to buy and sell securities for you on your behalf. You may cancel this contract at any time with immediate effect. We are legally required to verify your identity, which can be done via online video verification or at an outlet of the German postal service. In doing this, we ensure that no one misuses your data. Please have your ID card or passport at the ready for this. The method used is exactly the same as the ‘Postident’ procedure administered by the German postal service (Deutsche Post AG), including digitally, too. After that, the onboarding wizard will be successfully completed and your new account opened at your custodian bank. At the end you will receive an email and push notification telling you your new account number. As soon as you have transferred your desired investment amount to your brokerage account, you can follow the recommendations of the star traders of your choice.
Yes. You have the option of getting to know Follow MyTrader with a trial portfolio and fictional investment amount. This requires only a simple registration where you just enter your email address. After logging in, you will have a fictional amount of €100,000 in your test account so that you can follow the star traders’ recommendations. You will of course have access to all the same functions as you would with full registration. If you decide to invest your money with Follow MyTrader, you can complete full registration in your profile at any time.
The onboarding wizard gives you simple, easy, quick and full guidance throughout nthe five-step digital registration process: 1. Registration – you will receive an email at your specified email address asking you to confirm your registration with a click. 2. Entry of your personal details (name, address, date of birth etc.). 3. Video ID verification – we are legally required to verify your identity. For this, you need a webcam or camera phone as well as your national ID card or passport. Alternatively, you can go to a German postal service outlet and verify your ID there. 4. Short questionnaire – we are legally required to determine your personal risk level. 5. Approval of the securities account application that we have pre-filled for youfor the account that will hold your existing securities. 6. Transfer of your desired investment amount to your account at your custodian bank.
Yes. Identity verification can also be performed at an outlet of the German postal service (Deutsche Post AG).
Yes, you can if a bank partnered with FELS allows account openings by people residing abroad. However, anyone residing in the United States or assessed for tax by the United States is excluded from this.
Yes. However, a different registration process is required for this. Please contact our customer service team directly.
If you wish to invest your money through Follow MyTrader, we require your mobile phone number so that we can send you SMS verification codes. SMS verification codes are required to authorise your transactions. If you only wish to try out Follow MyTrader with a trial securities account, we do not need your mobile phone number.
No. You are free to decide whether or not you want to follow each recommendation of the star trader. If you do not wish to follow a recommendation, you do not have to do anything further. The recommendation expires when the response time has passed. You will of course be considered for the next recommendation put out by the star trader.
You can follow the star trader’s recommendation in such cases if you insist on it and are aware of the risks. We advise you explicitly beforehand that the recommendation does not match your risk profile and that the recommendation comes with a higher level of risk. The risk levels start at 1 (very little risk) and go up to 7 (very high risk).
No. Current legislation does not allow this. A waiting period of several months must pass first before we can redetermine your risk profile. A three-month waiting period has been set for the FELS platform.
No. Our system detects closures/cancellations automatically and then winds up our business relationship with you. The contract we have with you for brokerage services expires immediately.
We are happy to help you with this. You can reach our employees on trading days from 6 a.m. to 10 p.m. under the service number: +49 6195 8103 992.
No. Our employees cannot and are not allowed to give you financial advice.
Yes. FELS is a multi-bank platform. If your bank is connected to the platform, you can use our bank-independent offering.
No. We need a clear separation of your ‘private’ positions and the positions you trade and hold through FELS. For this reason, we automatically open new securities and brokerage accounts for you in the background, free of charge. These securities and brokerage accounts are very easy to distinguish thanks to the different account numbers.
No. We need a clear separation of your ‘private’ positions and the positions you hold through FELS. This is why you cannot have any additional transactions take place in your new securities account apart from the FELS products. If there were ever a ‘mixing’ of different products, your contract with FELS would be automatically void with immediate effect. To make sure this does not happen, we prefer to rule out the technical ability to intervene in this manner. However, not every custodian bank allows this.
Yes. Your banks are required to be connected to our platform for this. You can then, for example, trade a first position through bank A, a second position through bank B and a third position through bank C.
You can see all banks connected to the FELS platform in the overview of banks. Select your desired bank and confirm the connection with your SMS verification code. If you have only had a test account thus far, you will automatically be forwarded to the onboarding wizard.
You can find such an overview on the profile page. You will also find the IBAN for each of your linked accounts beside each bank.
No. With Follow MyTrader, you only pay your order fees. FELS receives a portion of these that would otherwise be taken by the bank. The banks do not make any further regular payments to FELS. FELS is 100 per cent independent and only trades in its clients’ interest.
Yes. This is now possible on the FELS platform, sorted by position and with comments from the star trader. In addition, you continue to have the option of viewing your securities account online with your bank. This means maximum transparency for you.
On your personal position detail page, the star trader informs you about decisions you have made or not made and, if applicable, about market conditions.
There is a special menu item labelled ‘My Trades’ which displays all transactions, sorted and listed by position.
Yes. You can find your sold positions after logging in on your overview page under the heading ‘My Previous Trades’ in ‘My Trades’.
An overview of your brokerage account or, if you have multiple banks, brokerage accounts can be found under your profile. The available amount displayed represents the capital that is not yet committed for transactions and that you can use for buy recommendations.
In your profile, there is a menu item labelled ‘Inbox’. There you can find all contracts and other personal documents in PDF format for you to view and download directly.
A waiting period of a few months must be taken into account for a new determination of the risk class. If your knowledge and experience with certain financial instruments changes, you can fill out the questionnaire again no more than once a quarter. If you think that your risk class is too high, please contact us at Contact
If your knowledge and experience with certain financial instruments changes, you can fill out the questionnaire again no more than once per quarter. If you have accidentally entered incorrect knowledge and experience, please contact us at Contact
In the app, navigate using the bar at the bottom of the screen, which is provided with the appropriate pictograms. The “diagram” shows the recommendations, the “wallet” shows your own trades, the “bell” shows the notifications and the “newspaper” shows the insights.
Registration on the FELS platform is free of charge. Generally, it is also free for you to follow the star traders. You only incur costs if you decide to use your money to follow a star trader’s recommendation. Only then are transaction fees charged – just like when you normally buy or sell securities with your custodian bank.
The transaction fees for you are generally not more than the transaction fees at your originating bank and comprise two components:\no Origin fees for performing the transaction with the custodian bank (set between each bank and FELS, at DAB the fees are between €3.98 and €4.20)\no Fees for following a star trader’s recommendation (between €1.75 and €45.02 depending on the order amount).
Yes. You can view the charges you have incurred completely transparently and at any time on the relevant position detail page or will also be displayed to you during the order placement.
You will not incur any charges for the required sub-account. This of course includes the opening, maintenance and also potential closure of the sub-account at a later point in time.
Yes. Your money and securities do not change owner at any time and remain with your bank. This means you continue to enjoy a deposit guarantee for your assets through the custodian bank thanks to the banks’ deposit protection fund. The FELS platform trades exclusively in your name and on your behalf when brokering transactions. This is comparable to the authority you might give, for example, to a trusted person for buying and selling securities.
Each declaration of intent that concerns the money you transfer to the FELS platform and use to buy and sell must be confirmed by you by using the SMS verification code process you are likely familiar with from online banking. By doing this, we ensure that the declaration of intent is being submitted by you personally. Each transaction can therefore only be performed successfully if you correctly enter the code we send by SMS to the mobile number that you have previously confirmed.
Your assets in your brokerage account and your positions in your securities account exist fully independently of the FELS platform. At no point does the FELS Group take ownership of your money and securities. Your assets remain your assets and with your bank.
Your data is very well protected thanks to technical features such as HTTPS access, SMS verification and firewalls surrounding our systems. Since the protection of your data is our top priority, we have deliberately made sure that our servers are located in Germany and satisfy strict German and EU privacy directives.
FELS Group GmbH is the parent company of FELS wealth GmbH. Follow MyTrader is a product of FELS wealth GmbH.
FELS is the digital platform for innovative and sustainable investment without access barriers. Trade, invest or save: our vision is a new social wealth management.
1) We enable all forms of financial investment – for everyone, without changing banks and at a single click. 2) We enable direct access to the top investment professionals. 3) Our focus is on sustainable and impact investments.
The FELS technology is the first to enable trading, investing and saving all on one platform. A change of bank is not needed for it. Using FELS, private clients can invest from their own securities account with professional traders and investors simultaneously. Throughout this, private clients have full transparency and see all transactions and yield analyses in real time.