The GeWorko Method Explained: Portfolio Quoting and PCI
Broker Review
By Ken Chigbo, Founder, KenMacro, 18+ years in markets.
Updated 2026-05-18
The desk’s verdict
The GeWorko method, also published as the Portfolio Quoting Method, is a US-patented technique for pricing one asset or basket directly against another and trading the result as a single instrument, called a Personal Composite Instrument. Instead of opening two legs for a pairs trade, a trader builds the relationship itself into one chart and one position. It is the core technology of the IFC Markets NetTradeX platform and is the clearest reason a relative-value, macro-spread or pairs trader would use that broker. This is an independent explanation with worked examples, not a brochure, including where the method genuinely helps and where its limits sit.
Try the GeWorko method on IFC Markets
What portfolio quoting actually does
Conventional trading prices one asset in one currency. Portfolio quoting prices a base portfolio against a quoted portfolio, so the chart shows the relationship itself. The simplest case is one asset against another, for example a metal against an index, expressed as a single line that rises when the base outperforms. The general case is a basket against a basket. The output is a Personal Composite Instrument, a synthetic that behaves like any other instrument on the platform: it has a chart, a price, and a single position with one set of risk parameters.
Why a macro or relative-value trader cares
Most macro and cross-asset ideas are relationships, not single directional bets. Is the dollar strong against a basket. Is one yield curve steepening relative to another. Is a commodity outperforming the equity that depends on it. Expressed as two separate trades, the relationship is approximate and the risk is split. Expressed as a Personal Composite Instrument, the relationship is the instrument: one entry, one exit, one position to manage, and a chart that shows the spread cleanly. For a desk that thinks in relative value, that is a materially better way to hold the idea.
A worked example, in plain terms
Take a view that gold outperforms a broad equity index over a window. Conventionally that is a long gold position and a short index position, two trades, two costs, two things to rebalance as prices move. As a Personal Composite Instrument, the trader defines gold as the base and the index as the quote, and the platform produces a single synthetic whose chart is the ratio. One position expresses the entire view, the spread is visible directly, and there is no leg-ratio drift to manage manually. The same construction generalises to baskets, currency relationships and yield proxies.
Try the GeWorko method on IFC Markets
Where the method helps and where it does not
It genuinely helps relative-value, pairs, and macro-spread traders, and it is rare, almost no competitor offers a patented portfolio-quoting engine. The honest limits: it adds a layer to learn, the synthetic’s behaviour depends entirely on how the trader specifies the legs, and it sits inside an offshore-tier broker, so a trader has to weigh the tooling against the regulatory profile covered in the IFC Markets review. The method is a real edge for the right trader, not a reason to ignore the broker-level checks.
Try the GeWorko method on IFC Markets
Frequently asked
What is the GeWorko method?
A US-patented technique for pricing one asset or basket directly against another and trading the relationship as a single synthetic instrument, a Personal Composite Instrument, on the IFC Markets NetTradeX platform. It is also published as the Portfolio Quoting Method.
What is the Portfolio Quoting Method?
It is the same thing as the GeWorko method, the formal name for quoting a base portfolio against a quoted portfolio so a relative-value or cross-asset relationship becomes one tradable chart and position rather than two separate legs.
What is a Personal Composite Instrument?
A Personal Composite Instrument, or PCI, is the synthetic instrument the GeWorko method produces: a base asset or basket quoted against another, behaving like a normal instrument with one chart, one price and one position, so a pairs or spread idea trades as a single thing.
Which broker offers the GeWorko method?
IFC Markets, on its proprietary NetTradeX platform. It is the broker’s patented, principal differentiator and is the main reason a relative-value or pairs trader would specifically choose IFC Markets, weighed against its offshore regulatory profile.
Is the GeWorko method worth using?
For relative-value, pairs and macro-spread traders it is a genuine edge, because the relationship becomes one position to manage rather than two legs. It adds a learning layer and sits inside an offshore-tier broker, so the tooling should be weighed against the regulatory checks in the IFC Markets review.
Defined term: Portfolio quoting
Portfolio quoting is the technique, patented by IFC Markets as the GeWorko method, of pricing a base portfolio of one or more assets directly against a quoted portfolio, so the relationship between them becomes a single synthetic instrument with one chart, one price and one position. It converts a relative-value or pairs idea, normally expressed as two separate legs, into one directly tradable thing, which is why it is the broker’s principal differentiator for macro and spread traders.
KenMacro has a commercial partnership with IFC Markets and may earn a commission if you open an account through the links on this page. IFC Markets is an offshore and mid-tier broker, registered with the BVI FSC and Labuan FSA, with no active ASIC, CySEC or FCA licence after the Cyprus entity was voluntarily withdrawn in 2024, and the desk states that openly rather than implying Tier-1 cover it does not have. Editorial analysis only, not financial advice. Verify regulation and live cost yourself before funding.
From the desk, free
Get the macro framework the desk actually trades
The same regime-first framework behind every call on this site, plus the weekly macro brief. Free. No spam, unsubscribe anytime.
Continue reading