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 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 a while using a demo trade account to gain the necessary experience that 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 and 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 & when to buy or sell when trading the market.

Managed Forex Account

For these beginners the best option for them is to select 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 and 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 known as signal providers, traders can then go to MQL5.com website, the official website of the creators of MetaTrader 4 platform & then one can review the track record of the trader that they have chosen & after that they can subscribe to the copy service provided by these traders.

To know More About The Service: Copy Trade Signals Managed Accounts

The trader will then set parameters such as the lots to be traded & the percentage of account balance that can be used to open transactions at any one time for example a trader may specify only 5% should be used to open trades at any one time. The trader can also specify that if their account makes losses above 10% then the copy should be stopped automatically, that way a trader knows that their account cannot lose more than 10% even as the managed copy signals are being executed on their account.

With this account a trader will just need to login to their MetaTrader 4 Platform 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 as well as the profit and loss account statement from the MetaTrader 4 platform. A trader can also stop any signal service at any time & select another signal.

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

Another advantage is that this service is provided by MQL5 the owners of MetaTrader 4 platform which means it is a more reliable service than when a trader looks for a managed account over the internet & doesn't have a way of verifying the results of the profit track record from these service because the same person providing the managed account service is the owner of the managed account service and therefore there might not be very much transparency for independent money managers, but for MQL5 service the service is regulated by MQL5.com and therefore no trader can manipulate their track record. Also in MQL5.com there is proof of how long a trader has been trading for example a trader might have traded for 81 weeks, 63 weeks, 55 weeks and these shows that a trader has a long track record of profitably. Also the providers of the service will be tracked using the overall profitability of their 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 trader who wants to use this service can use the number of subscribers subscribed to a signal to ascertain which provider to select 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 select 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 account any time they want from their computer.

To know More About The Service: Copy Trade Signals Managed Accounts

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