Did you know that the best-managed forex accounts may trade your money for you? Many leading brokers worldwide have made technological investments that enable traders to develop extra revenue streams. It’s getting more and more common to have a managed FX trading account. Sadly, due to this demand, many managed forex accounts have been mixed in with the subpar ones. We’ll discuss the top 5 managed forex accounts in this guide.
What Are Forex Managed Accounts?
For those willing to assume the risk necessary to obtain greater profits from riskier trading, such as leveraged foreign currency trading, managed accounts offer an intriguing investing choice. They are intended for those willing to assume significant risks and want experts to handle the initial selection and trading. The best form of managed account for you will depend on your circumstances, as various types are available.
A trading account is one of the most popular sorts. The simplest and most fundamental understanding is where you can trade with “actual” money through an internet transaction. This account is available from a wide range of Forex brokerages and can be opened quickly.
The 5 Best Managed Forex Accounts
To help you learn more about these managed Forex accounts, we go over the top 5 best ones in this section.
A leading managed forex account provider and copy trading broker is RoboForex, also known as CopyFX. This platform offers first-rate copy trading, minimal investment minimums, thousands of community members, and a variety of options for allocating assets. RoboForex’s best features are excellent instructional resources and affordable prices. This platform has drawbacks, such as the absence of round-the-clock customer service.
Top managed forex account suppliers and brokers include FxPro. Excellent accounts for money managers are available on this platform, including PAMM and LAMM accounts, outstanding balances, and tremendous flexibility. Some of its key benefits are setting costs, obtaining exceptional levels of control for money managers, and receiving rebates directly from FxPro. This platform does have several drawbacks, one of which is that it is unavailable in the UK.
One of the best brokers and providers of managed Forex accounts is eToro. Full regulation, no administration fees, and the option to keep all your gains are all features of this platform. The key benefits of eToro are access to managed FX funds, access to equities and cryptocurrencies, and a minimal minimum investment requirement for copy trading. One drawback of this platform is the significant minimum investment required to use CopyPortfolio.
Even so, eToro is among the most powerful social and copy trading platforms, particularly for currency trading. You may quickly look for the best forex traders to manage your portfolio using this platform’s unique managed forex trading service, which is incredibly simple.
- Interactive Brokers
Top managed forex account provider and broker Interactive Brokers. Although Interactive Brokers maintains a sizable number of accounts for financial advisers who clear their client accounts with Interactive Brokers, this platform technology isn’t a managed account. Interactive Brokers’ key benefits are low prices, cutting-edge tools, and low margin rates for forex. This platform has some drawbacks, such as an unintuitive and archaic website.
Top managed forex account providers and copy trading brokers are AvaTrade and Learn2Trade. This platform gives users access to a MAM portfolio, complete transparency—a feature not typically offered by brokers—and first-rate demo accounts.
Comprehensive regulation, excellent disclosure of benefits and dangers, and a reasonable revenue share arrangement are among AvaTrade’s primary perks. There are some drawbacks to using this site, such as the hefty minimum investment. AvaTrade provides in-depth tutorials on trading tactics and risk management procedures.
Advantages And Disadvantages Of Trading With Saxo Broker
Here are some Advantages and disadvantages of Saxo broker trading. Trading with Saxo gives you many benefits but also some downsides to Saxo bank.
Advantages Of Saxo Broker Trading:
- Broad range of products.
- More than 40.000 trading instruments;
- The chance to invest in professionally managed, ready-to-use long-term portfolios.
- Favorable trading conditions for experienced professionals with at least one year of trading.
Disadvantages of Saxo Broker Trading:
- There are no Cent accounts accessible.
- The down payment requirement is $10,000 or higher;
- A prohibition on algorithmic trading for foreign dealers;
Managed Forex accounts are specialized portfolios of investments where a third party executes trades and makes investments on the account owner’s behalf. A professional trader, broker, or financial expert will often manage the account. Even though someone else is trading on one’s behalf, the account owner will still retain full ownership of the account and can make requests or offer suggestions regarding trading strategies or options.