In order to make a profit from Forex trading, it is not at all necessary to spend a lot of your time sitting in front of a computer and staring at the charts. A managed Forex account is a perfect solution for people who do not have the desire, experience or time for active trading
A managed Forex account is an ideal way to make passive income on Forex. The essence of a managed forex account is that a professional trader, account manager or money manager manages trading on behalf of clients through a MAM or PAMM solution. An authorized person takes responsibility for trade analysis, risk and portfolio management, and other trading logistics, and you only receive profit and dispose of it at your discretion.
Naturally, this service is not free. But its cost and quality vary from broker to broker. For those who would like to try their hand at passive income on a managed Forex account, Traders Union analysts have selected the top 17 best brokers providing this service. Pleasе read of the best managed forex accounts here.
Why is it useful to have a professional manage your Forex account?
By entrusting the management of your Forex account to a manager, you pay him not only for his time and efforts, but also for the knowledge and experience of trading in the foreign exchange market. These people, as a rule, have developed their own Forex business, and are ready to share their success with you. Naturally, it is better to look for a professional with many years of experience in this field. The longer a professional trader works in the market, the more possible difficulties he has experienced, and the easier it is to overcome them. By opening an account on your own, you can do without service fees, but in this case, the risk of losing money on unsuccessful transactions is higher.
What are managed accounts?
Managed accounts work like this: an investor deposits a certain amount of capital and sets profit targets and an acceptable level of risk. And professional traders work to achieve these goals. There are three types of managed accounts in Forex:
PAMM-accounts, where the manager manages the capital of several users.
Copy trading, where the trades of the manager, to whom the trader is subscribed, are automatically copied to the subscriber’s trading terminal.
Personal management – when the manager works only with your account. This option is more personalized, but is more expensive as well.
The new material from Forex experts Traders Union reveals in detail the topic of managed Forex trading, its advantages, disadvantages and non-obvious features, and most importantly, which brokers in this area can be relied upon and which ones should be avoided.
By taking 5 minutes of reading (10 if reading thoughtfully), you will delve into the intricacies of the process and be information savvy enough to start trading.
The rating includes such brokers as Exness forex FxOpen, InstaForex, FxPro, Tickmill, RoboForex and others.