Should You Use A Forex Managed Account?
A managed Forex trading account is fun and profitable. The idea is that you can watch your money grow. This is good for people who have a full time job, or don’t want to sit in front of the computer all day.
A Forex managed account is available to you. The idea is simple. Give the money you want to invest, and the certified trained professional investors will work with that money and make it grow. The trader will manage your money while at the same time you still have full control of it.
You will have a professional full time trader who is experienced in forex trading to place trades for you. This is what is called a true “Autopilot” scenario. The broker will decide what to buy and when to buy it. Alternatively, he will know what to sell and when to sell it.
Some people like the idea of a person making decisions. However remember, it’s still your money and you can decide for yourself when to buy and sell, stop trading, and when to withdraw it etc.. It’s a common belief that these are better than “robots” or automated algorithms because traders are real people and they can be aware of real time events and news that may affect present price action.
If you want to get into a managed Forex account, just open one up and try it out. Before you decide to do that, be sure to check into their fees and trader commissions. If you want to test one out, simply make the minimum deposit and give it a month or so to see how well it works for you.
The minimum deposit can range anywhere from $2,000 to $50,000 but is commonly around $10,000. However this is one of the main reasons that turn off a lot of investors about forex managed accounts is because they require larger investments than most beginner traders want to invest. However if you want to be a big mover and shaker in the Forex market, it’s may be best to spread your investments around to see what is working and what is not. Use some capital to trade yourself and also some capital to open up a few managed accounts to let your overall money grow.
Email me to find out which managed accounts have worked and have not worked for me to Managed Forex Accounts.
You can also go to Zulutrade.com and get a $50,000 demo account to try out there systems for free before you commit with real money. You can compare different systems by total pips gained for different periods, total profit, amount of users, ranking, drawdown etc. and an additional benefit is that their website is real user friendly and sophisticated enough to make modifications to suit your trading style.
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