Today’s Forex market is an attractive chance to improve well-being without much effort and significant financial investments. However, the modern busy rhythm of life does not leave the opportunity for everyone to closely engage in trading. Managed Forex accounts are an ideal solution for those who want to earn passively on Forex. In a new article, Traders Union analysts have detailed how to choose a reliable broker and open a managed Forex account on the most favorable terms.
How is a managed Forex account better than trading?
Trading in the real Forex market requires serious preparation. This includes training (webinars, videos, all kinds of trading courses), and developing trader’s own strategy, and taking into account all kinds of risks. Also, for effective trading, you must definitely keep abreast of all trends. In other words, active trading implies full involvement. It often takes up most of the time. In addition, entering Forex and trading on one’s own is not an occupation for the faint of heart. After all, emotional swings from successful and failed trades are inevitable. Paying a professional to manage an account may be more expensive, but much easier and saves trader’s time.
How to find the best managed Forex accounts for yourself?
To decide which broker to open a Forex account with, it is recommended to read the relevant Traders Union material. The conditions, advantages and disadvantages of the top 17 brokers are considered. Among them are eToro, Interactive Brokers, RoboForex, AvaTrade, FxPro, Swissquote, FXTM, Naga, IC Markets, Fidelity, InstaForex, FxOpen, Tickmill, Forex4you, FBS, FP Markets, and FXCM. Using the links provided on the page, you can immediately visit any of the selected brokers, for example, Exness, login there and start your profitable managed Forex Trading.
What are the advantages of managed Forex accounts?
Among the advantages of managed forex accounts are:
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- No need for in-depth knowledge and trading skills — the manager takes care of all the difficulties.
- Minimization of tax liabilities
- Individual managed accounts cater to the specific needs of clients – trading is personalized.
- Investors have access to maximum transparency and control over transactions
- Investors can refuse cooperation at any time without any fines and financial losses.
- Account owner doesn’t need trading experience to start earning
Are there any disadvantages of managed Forex accounts?
However, this type of Forex trading also has disadvantages, which it would be dishonest to keep silent about, namely:
- Often, creating managed accounts requires quite a large investment.
- Compensation for professional traders managing your account may affect your overall earnings.
- Lack of flexibility in decision-making, because the manager is responsible for trading operations, he trades at his own discretion.
