Investing in forex and making quick money out of it has been a favorite activity of investors for quite a long. However, novice traders often find themselves not to be very successful in forex. The reason is the highly volatile market with increase liquidity levels which makes the market unpredictable and inexperienced traders end up incurring losses. Therefore, beginners are always suggested not to get involved in forex on their own unless they have gained some basic knowledge and experience.
Forex managed accounts can help novice traders greatly to overcome the aforesaid situation. With forex managed accounts people can earn a good amount of money without having any previous knowledge or trading experience. In this piece, we discuss top 10 forex managed accounts types/features that people should consider before opening a forex managed accounts. Before we go ahead, let’s recall a little about forex managed accounts.
What Is Forex Managed Account?
An account type in which investment form clients are managed by professional traders for a sum of fee. Individual or corporate traders may ask companies offering funds management services to take care of their investment and in return, companies are offered a share in the profit made in forex managed accounts. Usually, brokers offer these type of services.
Whether you wish to trade individually or you want to get your funds managed by some other person(s) a broker is needed. Selection of a broker is crucial in order to stay safe. The market is almost full of scam brokers out there. You need to be very careful with your investments. Always open a forex managed account with a broker regulated by one of the reputable regulatory bodies. This is to safeguard your investment since regulated brokers are more likely to follow rules and regulations in place by their respective regulatory bodies as compared to non-regulated ones.
Below are mentioned some features of Top 10 Forex Managed Accounts;
Low-Cost Forex Managed Accounts
Forex managed accounts opened with large investments are much riskier as compared to those requiring low investment. Although forex managed accounts are supposed to be traded by expert traders, however, often the profit made in the account is exceeded by the cost born on it. Ultimately there is no use of a forex managed account if the cost exceeds the expected benefit. Low-cost managed accounts are easy to open, involves less time and formalities and offers reasonable return instead.
High Return Forex Managed Accounts
As mentioned above, return in managed accounts should always exceed the cost being incurred in it. Accounts yielding more returns may involve a higher cost but this is fine as long as the return made in the account outclass the impact of increased cost. Brokers with good repute usually offer high returns to their clients on monthly basis. However, you must read all terms and conditions before putting your investment in such accounts since they may involve certain conditions to be fulfilled before you can actually withdraw your profits.
Risk Diversified Forex Managed Accounts
Companies offering risk averse forex managed accounts should be given preference over the ones offer higher return with an increased level of risk. This is because, when the market moves abruptly, risk-averse forex managed account will not be hurt badly. Whereas forex managed account opened for aggressive customers might incur sever loses.
Performance Oriented Forex Managed Accounts
Higher returns would not help investors to go long if they are not consistent. Therefore, the performance of forex managed accounts is important. If you are not been able to generate higher returns but performance of a forex managed account is consistent, you are good to go. However, as soon as the performance element started to observe a decline, it is very likely that you are not going to survive for long.
Individual Forex Managed Accounts
Funded with an investment from a single investor, individual forex managed accounts are traded by expert professional traders on investor’s behalf. After the profit is made, it is to be divided between both the company and traders in an agreed profit sharing ratio. The amount needs to be deposited in individual forex managed account may a little bit higher as that of other types of account. Investors may choose to decide what trading strategy is to be used and how much risk should be taken.
Pooled Forex Managed Accounts
Another type of forex managed account is commonly known as pooled forex managed accounts. These are funded by 2 or more investors. Professional traders managing pooled accounts follows different risk and money management strategies to perform as per investors’ expectations.
PAMM Forex Managed Accounts
PAMM (Percentage Allocation Management Module) is another type of pooled accounts in which investors allocate their funds to their favorite traders to manage them as per their desired proportion. In PAMM accounts investors are only concerned with their share of profit. The trading strategy is often selected by money managers in PAMM accounts.
Where To Open Forex Managed Account?
Different brokers and financial intermediaries provide services of forex managed account, however, forex92 is one of the best company offering forex managed accounts since last four years. The company is based in Cyprus. It offers almost all features those have been discussed above concerning top 10 forex managed accounts. The company also offers full-time customer support. The company holds an excellent trading record which can be verified by visiting the company’s official website www.forex92.com under “verified performance” tab.
How To Get Started With Forex92?
Getting started with forex92 only needs you to follow a few steps listed below;
- Visit www.forex92.com
- Select “Forex Managed Account”
- Select your favorite broker
- Fund your account
- Sign an agreement with the company
- Share your MT4/MT5 login credentials with the company
Conclusion
After a detailed review of the company, we hereby conclude that forex92 is truly a legitimate company offering best forex managed accounts. It offers consistent monthly returns and 24/7 customer support to its clients. The company also keeps sharing its monthly profits with its clients to remain transparent. We believe people should come and try it once at least.