For anyone working full time, not having time to learn the great secrets of FX trading, or for beginners who are new to this lucrative business, a managed foreign exchange account would be a great option. Foreign currency managed accounts based on the concept of wealth management work more or less the same way. They ensure the growth of your initial investment. Basically, a managed foreign currency account is one that allows the broker or other authorized person to act in your best interests. This means that the authorized party, who is usually an expert in foreign exchange trading, can make transactions on your behalf without the need for your permission. However, you do not have to be the person managing your business. You can choose an automated currency managed account that runs on automated trading software that is programmed to take into account things like recent trades, various statistics, market trends և indicators. Whichever way you choose to go, there are definitely many benefits to running a managed foreign currency account. These include the following:
- Managed Forex accounts are managed by experts who have the required knowledge and skills in the field of foreign exchange trading. This means that making money from FX is easy for them. Moreover, they take only a small percentage of the profits.
- Another advantage of FX managed accounts is that you have a guaranteed return. Experts are in a good position to make real-time decisions about how to benefit from any transaction they make, unlike most of us.
- FX managed accounts are liquid by nature. This means that if you do not feel the need to continue with FX, you can simply withdraw your money.
- They require low start-up capital; $ 5,000 is actually the minimum investment requirement of most institutions. Compared to most other investments, this one is quite modest.
- The last advantage is that they provide you with the most up-to-date information on the status of the foreign exchange market. They also offer other relevant information, such as comparisons of your investment progress with recent market trends, and more. This gives you more control over your investments. Moreover, even if your portfolio is managed by another party, you still have the right to manage your affairs.