Managed Forex Accounts

The forex market can be quite confusing to the beginner trader, this is the largest & most liquid financial market in the world and to learn how to trade this market successfully it can take a fx trader a lot of time to learn the basics & understand how the market works. In addition a trader might also be required to practice trading the market for some period of time using a demo trade account to gain and garner the necessary experience which will enable them to trade successfully.

Forex analysis requires a lot of time to learn, in addition there are two types of analysis and these are fundamental & technical analysis - a beginner trader may not know which one to use especially if they do not have enough time during the day that they can dedicate to learning these concepts. A trader may not know which style method to select and choose & when to buy/sell when trading the market.

Managed Forex Account

For these beginners the best option for them is to select and choose a managed forex account where they can let their account be traded by professional traders that have experience currencies and have a profitable track record.

This article talks about a different type of managed account, these managed accounts are account where traders open their own trading account using the MetaTrader 4 platform software & after that they then copy trades from profitable traders directly from their platforms.

The trader will be provided by a listing of all profitable traders referred to as signal service providers, traders can then go to MQL5.com website, the official website of the creators of MT4 platform software & then one can review the track record of the trader that they have chosen & after that they can subscribe to the copy signal service provided by these traders.

To know More About The Service: Copy Signals Managed Accounts

The trader will then set parameters like the lots to be traded & the % of account balance that can be used to open transactions at any one given time e.g. a fx trader may specify only 5% should be used to open trades at any one time. The trader also can specify that if their trading account makes losses above 10 % then the copy should be stopped mechanically/automatically, that way a trader knows that their account can not lose more than 10% even as the managed copy trade signals are being executed on their account.

With this account a trader will just need to login to their MT4 Software and monitor their account balance and view the open trades at any one given time and also they can view reports of all closed trades & also the profit and loss account statement from the MetaTrader 4 software. A trader can also stop any signal service at any time & select another trade signal.

One advantage of this type of managed account solution is that a trader remains in control of their account at any given time. Next advantage is that a fx trader does not pay the person providing the trading signal service based on a cut of their trading profit, the forex trader only pays a fee of $30 or $40 every month.

Another advantage is that this service is provided for by MQL5 the owners of MT4 platform software which means it's a more reliable service than when a forex trader looks for a managed account over the internet & doesn't have a way to verify the trading results of the profit track record from these services because the same person providing the managed account service is the owner of the managed account service and thence there might not be very much transparency for the independent money managers, but for MQL5 service the service is regulated by MQL5.com and thence no trader can manipulate their track record. Also in MQL5.com there is proof of how long a fx trader has been trading for example a forex trader might have transacted for 81 weeks, 63 weeks, 55 weeks and these shows that a forex trader has a long track record of profitably. Also the signal providers of the service will be tracked using the general profitability of their trade system, for example a trader who has traded for 81 weeks may have made a profit which will be shown on their track record. Also every subscriber has the number of subscribers using their service for example a service provider may have 200 subscribers, another might have 155, another might have 67 and a fx trader who wants to use this service can use the number of subscribers subscribed to a signal to ascertain which provider to choose for their account.

For traders wanting to invest their money in the market but who don't have time to trade during the day, this is the best option to choose from instead of the traditional managed account. For this option a trader will remain in control of their account at all times & they can monitor their trading account any time they want from their computer.

To know More About The Service: Copy Signals Managed Accounts

For those traders that want to learn more about this Copy service the above tutorial provides enough information about this topic.

Learn More Tutorials & Courses:

Trade Forex Trading

Managed Forex Accounts

Managed Forex Account