Many FX traders, especially the newcomers don’t have much awareness when it comes to forex managed accounts. It can be best described as a service in which professional FX traders are hired to manage investors’ funds for a fee. To use it, traders have to open an account with a broker that offers these services. These brokers normally have teams consisting of professional FX traders who are responsible for maintaining their client’s investments.
How to choose the best Forex managed account?
To summarize, Managed Forex accounts are ideal for those investors who have the capital to invest but lack time and skills to manage and monitor Forex accounts. It is also ideal for those investors who want professionals to handle their capital.
Forex managed accounts are also great for companies that want to expand into Forex without active involvement. Passive investors who want to benefit from the experience and resources of professional fund managers can also go for forex managed accounts.
Why should you use Managed Forex Accounts?
Forex managed accounts allow traders to earn a lot of gains by taking advantage of modern technology. It lets traders bypass the learning curve. It is also a good substitute for experience, as the trading accounts are managed by professional FX traders with good track records. Finally, forex managed accounts allow traders to eliminate the effects of human emotions on their trading accounts.
There are many brokers that offer the best-managed accounts for traders. Here are some of the most user-friendly and profitable managed account providers in 2022.
- FP Markets
The first managed account provider for forex on our list is FP Markets, which was founded in 2005. It offers a variety of services such as the MetaTrader suite and a commission-based Raw ECN account. FP Markets provide access to Iress platform suite which offers over 8,800 tradeable symbols. It s regulated by the Australian Securities & Investment Commission (ASIC).
Zackstrade is a broker that offers fractional shares of stocks in addition to stocks, bonds, mutual funds, ETFs and options. It offers three trading platforms. Among these, the Zacks Trade Pro lets users customise layouts to suit their needs, offers custom charting and more than 120 technical indicators. It also offers options strategy labs which easily allows traders to assess how profitable a particular options trade might be. Zackstrade provides Individual, Joint, Custodial, Trust, Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, Corporate, Partnership, Limited Liability corporations & Unincorporated Business accounts.
- Templer FX
Founded in 2008, Templer FX is a broker that forex trading, CFD trading, social trading, and share dealing trading. The broker provides a demo account called a virtual portfolio. It also provides social/copy trading features along with research-backed analysis on financial markets and investments. The trading platform can be used in a multitude of devices including Apple devices. New traders have it easy with the Advanced Financial Chart comparison tools provided by the broker.
NabTrade was founded in 2008. The broker uses a segregated bank account for client funds. It is considered one of the safest and most secure when it comes to client capital. The minimum deposit for NabTrade starts from $100. However, the broker doesn’t allow scalping and is not FCA regulated. This means that users aren’t provided with the various client deposit protection schemes available. NabTrade operates across the UK, Germany, Australia, South Africa, Thailand and China.
- FX Primus
FX Primus is a forex broker which was established back in 2009. With an offering that includes more than 125 different instruments which include 43 currency pairs. As a market maker, FX Primus has lower entry requirements compared to a lot of ECN brokers in the market, as it benefits from the higher trading volume. FX Primus has also won accolades for the level of customer support and languages that they offer.
Managed accounts typically offer an investor the ability to invest in alternative investment strategies with greater control over their own assets with greater transparency and flexibility. Compared to normal forex trading, managed forex accounts provide users with the expertise and knowledge that only seasoned professionals have. Thus, to ensure that the service you’re getting is worth the investment, always go for licensed, experienced and certified brokers only.