Forex trading can be fun and exciting, but at the same time, it can also be a complex and perplexing activity. There are a lot of people who would like to become a trader but not everyone has the time, effort, or technical skills to do it all on their own. For these people, managed forex accounts provide a solution. In this article, we will recommend some of the best managed forex accounts based on our judgment. We will also bring you up to speed on managed forex accounts – what they are, how they work, and the perks of using them in trading.
Compare Best Managed Forex Accounts
Min Deposit: $50
Min Deposit: $100
Min Deposit: $100
Min Deposit: $10
Min Deposit: $0
Min Deposit: $100
Min Deposit: $100
What Is a Managed Forex Account?
Before we start listing the best managed forex accounts that you can choose from, let us first talk about what they are. As the name suggests, these are forex trading accounts that are managed by professionals as a service to clients who would like to trade but do not wish to do so directly. So if you don’t have the time or the skills to do your own trading, you can sign up for account management services from a trusted broker. Most brokers offer two options – Multi Account Manager (MAM) and Percent Allocation Management Model (PAMM). MAM accounts allow for greater flexibility, with the account manager being able to make trade decisions based on the trader’s requirements.
With PAMM accounts, on the other hand, the manager holds full control over the funds so the trader effectively has no say in trade decisions. However, PAMM accounts are completely transparent, and the traders can monitor profits and losses in real time if they wish.In any case, managed forex accounts are becoming quite popular these days. This service is now available from a growing number of reputable online forex brokers. Because of its popularity, it’s no longer very hard to find the best managed forex accounts that would be a perfect match for your trading needs.
Best Managed Forex Accounts at a Glance
| Forex Broker | Regulation | Minimum Deposit | Tradable Instruments | Currency Pairs |
| AvaTrade | CBI, ASIC, FSCA, FSA, FFAJ, BVI FSC | $100 | Forex, crypto, commodities, indices, stocks, bonds, vanilla options, ETF | 60 |
| FP markets | ASIC, CySEC, FSCA, FSA | $50 | Forex, CFD, crypto, stock | 71 |
| Fusion Markets | ASIC, FSA, FVSA | $0 | Forex, CFD, crypto | 90 |
| FxPro | CySEC, FSCA, FCA, SCB | $100 | Forex, CFD, metals, shares, spot indices, crypto | 70 |
| Blackbull Markets | FMA, FSA | $0 | Forex, stock, CFD | 72 |
| IG Markets | FCA, BaFin, CySEC, FINMA, DFSA, FSCA. MAS. KFSA. ASIC, NFA, BMA | $0 | Forex, ETF, options, stock, commodities, crypto | 97 |
| Swissquote | FINMA, MAS, FCA, SFC, DFSA | $1000 | Forex, commodities, share CFD, indices, bonds, crypto | 78 |
| Pepperstone | ASIC, FCA, CySEC, BaFIN, DFSA, SCB, CMA | $0 | Forex, CFD, indices, shares, commodities, crypto, ETF, metals | 90 |
8 Best Managed Forex Accounts Reviewed
So now that you have a fairly good idea about account management in forex trading, you can make an informed choice. Here are the top brokers that offer the best managed forex accounts today.
1. AvaTrade
AvaTrade is a very highly regulated broker that comes with 6 trading platforms. It offers a variety of options for traders who wish to avail managed forex account services, particularly excelling with its MT4 MAM account. This broker is highly regarded in social and copy trading, and they offer more than 1250 tradable instruments.
2. FP Markets
Many money managers prefer using FP markets for managed forex accounts because it does not limit sub accounts. They offer both MAM and PAMM account options. Traders can take advantage of the exemplary performance metrics in choosing their account managers. The product portfolio is also vast, and includes more than 70 currency pairs.
3. Fusion Markets
Some of the best managed forex accounts today are available through the Fusion Markets MAM system. They make use of the MetaFX platform, which allows all trading strategies and gives access to all tradable instruments. With this superior platform and a competent system, traders are assured of exemplary handling of funds by professional managers.
4. FxPro
FxPro has been a reputable broker for nearly 2 decades, offering an impressive array of trading platforms. For managed forex accounts, managers can choose between MT4 and MT5, which gives greater flexibility that you can’t get from other brokers. Traders particularly like FxPro’s rapid execution and tight spreads.
5. Blackbull Markets
Blackbull Markets is another reputable forex broker that offers both MAM and PAMM accounts. They stand out notably because of their fast and efficient processing and high liquidity. They also have very competitive spreads. Blackbull Markets is extremely transparent, allowing traders to accurately track their investment.
6. IG Markets
IG Markets has an excellent multiple account management offering, where fund managers can easily execute trades across several accounts using the MT4 or L2 Dealer platform. Being a Swiss bank, IG Markets offers a much higher level of protection to traders compared to many other online forex brokers.
7. Swissquote
Swissquote offers a very attractive partnership program for money managers, and great options as well for traders looking to avail MAM or PAMM forex account management services. As a publicly traded company, Swissquote is much more transparent than other brokers, although it does have a higher deposit requirement than most.
8. Pepperstone
One of the plus points about Pepperstone’s managed forex accounts is that they are linked to social trading, particularly the MAM accounts. The fees vary depending on the manager but for the most part, they are quite competitive. These fund managers come from the Pepperstone Partners Program, which accepts only top qualified traders.
What Are the Advantages of Managed Forex Accounts?
Managed forex accounts offer a bunch of advantages to traders. In addition to not having to spend extra time and effort towards forex trading, here are some other benefits that you can get.
Are There Any Drawbacks to Using Managed Forex Accounts?
Before you jump in and put all your trading money into a managed forex account, you must know that this system does have a few drawbacks as well.
Lack of control over your investment
There might come a time when you want to have a say in how to invest your money, but this is not always possible, particularly in a PAMM.
Possibly high account management fees
Account management is not a free service so you would naturally be paying some fees or commissions. The exact fee would depend on the broker but as a rule, this usually ranges from 20% to 30% of trade earnings. As you can imagine, this is much higher than what you would pay for a self-managed account.
Limited trading education
When you manage your own forex trading account, there’s quite a lot that you can learn with each trade you make and even with each loss you suffer. There’s no such learning opportunity with even the best managed forex accounts since you will be entrusting it all to the broker.
How to Take Your Pick from the Best Managed Forex Accounts
So there you have it – we have already given you the best managed forex accounts based on our research. Now, all you have to do is take your pick. To ensure that you make the right choice, take the time to compare the different factors starting with the ones that are most important to you.
For instance, you might want to check if they have the trading platform you prefer, or if the currency pairs that you would like to trade are on their list. Also, take a close look at their fees and spreads and see if this works for you. Of course, you should only sign up with a reputable broker so be sure to verify that they have proper licenses, and at least one tier-1 regulator.
Finally, if you can look into a potential fund manager’s risk/reward portfolio, this would help you a lot in gauging their ability to manage your money.
