Best Forex Account Managers 2023: Top 7 Picks & Reviews

In this article, we will explore the concept of Forex managed accounts, the benefits they offer, and the services provided by Forex managed account providers. Whether you are a seasoned investor or just starting your Forex journey, understanding the advantages of Forex managed accounts can greatly enhance your investment strategy. When it comes to looking for the best forex managed accounts, then there are a few different ways of doing it. A managed forex account is a type of currency trading account in which a professional money manager makes trades and transactions on a client’s behalf for a fee. Forex managed accounts provide individuals with an opportunity to participate in the Forex market while relying on the expertise of professional traders. However, it’s crucial to conduct thorough research, understand the risks involved, and choose a reputable money manager to ensure a reliable and transparent investment experience.

This kind of account is similar to mutual funds, as an experienced manager will use their specialized knowledge to make investment decisions on behalf of the client. Managed forex accounts are instrumental in attaining profitable trades, especially for busy or inexperienced clients. Therefore, investors should do thorough research before settling on any one broker.

What are the benefits of using Forex managed trading accounts?

FXPro is a global forex and CFD broker that offers trading services to retail and institutional clients. Pepperstone is a global forex and CFD broker that offers trading services to both retail and institutional clients. The broker provides multiple trading platforms, including MetaTrader 4 and 5, and offers a wide range of trading instruments, including forex, commodities, indices, and cryptocurrencies. EToro is a global social trading and multi-asset brokerage company that offers trading services to retail and institutional clients.

You can also access the CopyTrader feature where you can find individual forex traders to manage your funds. There are literally thousands, if not millions, of traders offering forex managed funds. But, only a small selection would be considered among the best managed forex accounts to use. Founded in 2007 in Tel Aviv, Israel, eToro copy trading platform provides a great selection of managed forex accounts. It’s one of the world’s social trading networks and has over 28 million registered users benefitting via its CopyTrader feature. EToro is best for copy trading which in essence is a managed account.

Vantage FX – Flexibility Through the PAMM Account on MT4 and MT5

You can emulate multiple investor accounts and allot unique portions to each trading system. It is the more flexible option since you can protect yourself against losses suffered for a particular account. With VantageFX PAMM, you get flexibility in terms of performance fees, and you can make deposits and withdrawals at your convenience. It connects several trading platforms with a single money management system. Thanks to the web portal, you can closely monitor your trading reports.

Their business model is such that they have to make profits out of their clients’ accounts so as to earn their keep. To open an account with them would require a minimum investment of $3,000. Their customers can contact them via email, Facebook, Skype, or Telegram in case of any queries. The minimum investment for the CopyPortfolio account is $5,000, which is relatively high. For the CopyTrader account type, this minimum investment is much lower. FXTM, or ForexTime, is a global forex and CFD broker that provides trading services to retail and institutional clients.

You want to have full control over your funds

As the customer, you have complete control over your account, and only you decide what happens with the money. You can monitor all the trading activities, and if you are not happy with the outcomes, you have the freedom to cancel any time. Learn2Trade lets you keep 70% of your profits and provides an average monthly return of 5%.

Having a forex account managed involves hiring a professional to trade on your behalf in this market with the goal of generating profits. Forex-managed funds are a type of investment account in which a professional manager trades on behalf of an investor to generate profits in the foreign exchange market. This will include fees for services, sometimes including a performance fee. It’s one of the best-managed accounts for the forex market, has fast communication systems, allows quick deposits and withdrawals, and provides multiple account types. FXTM or ForexTime Limited is a worldwide forex managed accounts broker headquartered in Cyprus.

Things to consider before investing

There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. It depends on the broker; some have no minimums and others have minimums measured in the thousands. Gordon Scott has been an active investor and technical analyst or 20+ years.

• In this section, we go through the top 5 best forex managed accounts so you can learn more about their features, pros, and cons, as well as how to open an account with them and get started.
• If a PAMM / MAM account has 3 clients with various deposits as follow, which in total the amount is US$ 100,000.
• AvaTrade supports MetaTrader 4 and 5 but also has its own WebTrader platform.
• These managers may work for asset management firms, banks, or other financial institutions.
• Clients are also usually able to write a personal check or a bank check directly to their forex brokers, though this takes longer, of course.
• They will usually charge a performance fee so they only get paid when they make you money.

What’s more, it is a trusted forex-managed accounts service provider that’s highly regulated in various locations. Some of the regulators are the Australian Securities and Investments Commission (ASIC) and the UK’s Financial Conduct Authority (FCA). VantageFX’s customer service can be contacted via live chat, phone call, and email.

Opting For A Managed Forex Fund

EToro charges $5 on all withdrawals, and they charge a fee through the spread. The trading platform is regulated by the CySEC, ASIC, FCA, and other entities, fulfilling the regulations across 140 countries. You need to research several brokers to find the one that suits you most. After that, you ought to study the details of the contract to know about the commissions, coverage, maximum drawdown, and monthly returns.