BEST MANAGED FOREX ACCOUNTS

BEST MANAGED FOREX ACCOUNTSBEST MANAGED FOREX ACCOUNTS

BEST MANAGED FOREX ACCOUNTS

Trading is a difficult job, especially in markets that are open around the clock like forex. Paying attention to stocks is hard enough, and they only trade between 9:30 a.m. and 4 p.m. But currency markets can still be accessible to individuals short on time, and a managed account can offload the work to an expert. Let's take a look at the best managed forex accounts.To get more news about best managed forex accounts, you can visit wikifx.com official website.

Interactive Brokers has been providing trading and investment services to clients all over the globe for nearly half a century. Regulated in the U.S., Interactive Brokers allows users to access domestic and international markets, trade complex securities and derivatives and design their own APIs for automated trading systems. And while it doesn’t have copy trading or percentage allocation money management (PAMM) services, it does allow financial managers to open accounts and trade on behalf of clients.

AvaTrade is a broker offering forex, cryptocurrency and contract for difference (CFD) trading. Clients can trade CFDs based on stocks, indices, commodities and bonds. But if you’re looking for a managed account, consider AvaSocial, a broad network of traders where clients can link their accounts to certain profiles and automate their strategy. Clients can also use popular copy trading products ZuluTrade and DupliTrade. AvaTrade supports MetaTrader 4 and 5 but also has its own WebTrader platform.

Forex traders in the U.S. often have limited options since many of the other securities on these platforms, like CFDs, are banned. But eToro is open to U.S. residents and has a robust copy trading service available to its clients. Copy traders can follow and mimic the portfolios of top traders on the network with no additional fee.

Pepperstone is an Australian-based broker known for its access to a variety of platforms, including MetaTrader 4 and 5. Pepperstone has three options for social traders: Myfxbook, MetaTrader Signals and DupliTrade. Spreads vary depending on your account type, but fees are minimal across the board and there’s no minimum to open an account.

Dukascopy is a Swiss financial services company offering a wide range of products from banking to CFDs to managed forex accounts. Dukascopy uses PAMM, which allows clients to devote different percentages of their portfolios to specific traders for copy trading. The firm also has a deep library of research and education materials for novice traders looking to learn about currency trading with market updates and news.

What is a Managed Forex Account?
A managed forex account is one where the owner outsources trading decisions to a third party, often a more experienced trader with a solid history in the market. Managed forex accounts can be set to copy all trades by other investors through linking, or the account owner can divvy up portions of their portfolio to different traders for strategic diversity.
Who Managed Forex Accounts are Best for
If you fit any of the criteria below, you may want to consider a managed forex account:

Busy individuals who can’t watch the market: Forex markets operate 24 hours per day during the week, and that’s far too much time for most individuals to study the market. If you have a demanding career or family obligations, a managed forex account lets you outsource some (or most) of the work.
People who prefer to let someone else do the trading: Maybe it's not the time but the experience that worries you. Are you a novice in the currency markets and want to learn from an expert first? A managed account will provide you with a trading history to study for a deeper understanding.
You don’t have the psychological makeup of a trader: Trading isn’t for everyone. Money tends to make people emotional, and the last thing you want is to become overly aggressive when trading. A managed forex account will remove emotion from the equation and allow you to focus your energy elsewhere.
Anyone who wants to plan for the future: A managed account provides access to different types of experts and can provide a basis for forex market education. If you have long-term plans in currency markets, why not take some time to learn different techniques from experienced traders?


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