Managed Forex Accounts
Managed forex accounts are the method in which a money manager / investor trades on behalf of the account owner for a specific fee or charges.
For managed forex accounts, the relationship between account owner and the money manager is defined in advance through a contract describes the full agreed terms before starting, this includes risk ratio / percentage allowed per day or month, profit share or fees, and the relationship with the broker, along with any other privileges that might be discussed and agreed or offered.
A money manager who take action on a specific managed forex account, can do all the allowed and agreed terms in the contract, but not allowed to issue withdrawals on his own discretion or on client’s behalf, but he will be allowed to take the fees in advance or as a percentage according to profit performance.
Cost of managing the account or fees will be agreed and stated in the contract in advance, and will be processed by the broker at which the account is opened, since the broker will be responsible partially for the relationship between the account owner and manager.
While some money managers work with specific brokers, some of them can work with wider variety of brokers or maybe all of them, and this only depends on the money manager.
This article describes Managed Forex Accounts in general, giving you a better understanding for what is offered and what you can get out of this model.
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