What’s a Managed Forex Account?
A managed forex account is a trading account where a skilled trader or money manager trades on your part. Unlike a regular forex trading account, it is you who makes all the trading works.
This account type is more costly than a standard forex trading account and would usually require a higher minimum deposit.
A money manager deals with market logistics similarly in a forex managed account than common assets and bond investment accounts. But, you still do have the complete control of your account, and the money manager’s only accessing it to trade.
They cannot do deposit or withdrawal transactions. Bear in mind that gaining profits in a managed account is not guaranteed because of the volatility in the forex market. So all managed accounts should give a disclaimer saying that you can forfeit your money.
Most clients give their money manager full authority over transactions done in their accounts. Although, you can oftentimes instruct the money manager on the procedures and trading signals you would like them to acknowledge as they execute on your behalf. This takes you out of the trading picture so you can prevent the emotions and psychological effects that come with winning and losing trades.
Remember, not all forex brokers are designed the same, so thoroughly consider your needs and the broker's features before you sign up. Moreover, if you want to have someone else handle your forex trading account, be sure they have sufficient training and foundation at their end as well as a decent track record as a trader. See Best Forex Account Management for more details. https://www.binarytradingsingapore.com/managed-forex-trading-singapore/
And once you start a managed account, account managers will usually have minimum time and deposit terms and sometimes charge penalties for advanced fund withdrawal. Minimum deposits for these accounts can also be significantly larger than for a standard forex account.