Forex trading is well-known amongst traders for bringing exotic returns over a short period of time. However, it is equally regarded as a risky source of investment especially when an investor is new to the forex world. Here, forex managed accounts becomes handy to enable clients with little or no previous trading experience make some quick crazy profits. In this piece, we present forex managed accounts reviews so you can know better why it is important to have forex managed accounts opened.
What Is Forex Managed Account?
It’s a type of account opened by investors and managed by professional traders on investors’ behalf for a fee. Forex managed accounts can be customized according to the needs of investors. Investors may choose the level of risk they wish money managers should not exceed. In other words, it’s an alternate form of investment to personal trading. Forex managed accounts help investors to diversify the risk and generate a passive stream of income without messing around into the forex.
How Does a Managed Forex Account Work?
After an account with a broker is opened, investors need to allocate funds for the account management purposes. Then, money managers are given a limited access to manage client’s investment. It is to be noted that, forex money managers can access clients’ funds for trading purposes only. Clients have autonomous control over their funds with respect to deposits and withdrawals. Once the profit is made in the account, it is then divided between clients and the company offering management services in an agreed profit sharing ratio.
Forex Managed Account Types
Forex managed accounts has been a point of attraction for traders for quite a long. In fact, ever since people started investing in forex they felt a need of a helping hand to manage their funds, thus the concept of forex managed accounts came into existence. There are effectively three types of forex managed accounts being offered commonly including individual managed accounts, pooled and PAMM accounts. Let’s go through each account type one by one.
1. Individual Account
It’s the simplest form of forex managed account that involves investment from clients and management services by professional traders. This account is operated as per your instructions concerning the level of risk, or any specific trading strategy that you may wish them to use.
However, with more or fewer powers, individual forex managed accounts are handed over to fund managers to look after and generate sound returns for investors. The amount required to get your funds managed by a professional trader might be a little higher as compared to other types of forex managed accounts since you are the only financer therefore, funds should not be less than $1000 at least.
2. Pooled Account
It’s another type of forex managed account similar to mutual funds. In pooled accounts funds are contributed by multiple investors and profits are divided among all participants after fees and expenses are paid off. In pooled managed accounts, investors can choose from a variety of pools depending upon the level of risk they wish to bear plus the past performances of the pool accounts. The main benefit to consider opening a pooled forex managed account is the minimum deposit requirement. You can choose to deposit as low as you can afford.
3. PAMM, MAMM & LAMM Accounts
Unlike individual forex managed accounts and pooled managed accounts, PAMM involves a relatively sophisticated mechanism for the distributions of profits earned, allocation of losses & fees and expenses to be borne. Due to technical aspects and automation of PAMM accounts, these accounts may appear to be working same as that of mirror trading. However, they are more close to individually managed accounts in nature.
Who Offers Forex Managed Accounts?
Companies and brokers dealing in forex are usually referred for opening managed forex accounts. Individuals with sound trading experience and expertise can also be asked to offer funds management services. However, to be on the safer side, opening forex managed accounts with legitimate companies such as forex92 is always recommended.
This is because companies are usually regulated or they work in collaboration with regulated brokers at least. Regulation makes them abide by the rules and regulations in place for the protection of clients funds. On the other hand, individuals barely follow any rules and regulations. In an event of loss, you may not be able to pursue any legal actions against them either.
What Is Forex92?
Forex92 is an investment-oriented company offering funds management services to its clients worldwide. The company was established in 2014 and is headquartered in Limassol, Cyprus. It has a team of professional forex traders and fund’s managers having years of experience in the same industry. The company offers low cost managed forex accounts with consistent monthly returns. It also allows you to invest in digital assets with an expected return of 50% to 100% a month.
How To Get Started With Forex92?
Getting started with forex92 is as simple as following a few steps mentioned below;
- Visit www.forex92.com
- Select “Managed Forex Accounts” available at the top right corner of the company’s homepage.
- Select your favorite broker after filling in your details on the sign-up page.
- Deposit funds into your account.
- Inform the company about the deposit made using the contact form available online.
- Sign a contract with the company concerning profit allocation between you and the company
- Share your MT4 login credentials with the company.
Is Forex92 a Scam?
No, forex92 is not a scam. It’s a legitimate company offering profit oriented forex managed accounts for the past four years. The company holds an excellent verifiable trading history which can be verified by visiting the “verified performance” tab available on the company’s official website www.forex92.com
Customer Support
Forex92 provides excellent customer support to its clients round the clock. The company can be contacted via different communication mediums including a telephone line, email and web chat service. People may use the following details to contact the company.
- Tel: +357-25123308
- Email: trading@forex92.com
- Web: www.forex92.com
Final Words
After a detailed review of the company, we hereby conclude that forex92 is one of the legitimate companies one may consider investing with. It works with regulated brokers around the world and offers low-cost forex managed accounts with consistent monthly profits which can be considered as few good reasons to start with the company. In addition, it also provides round the clock customer support and shares monthly performance with its clients to remain transparent. We believe the company really worth trying it for once.