Hi,
does anybody here know of any Forex organisations that will trade and manage your account on your behalf? are there any for managing accounts in the UK and if so what is the minimum account balance needed? thanks.
I just asked a similar question but I’m based in US where new regs may have ended account management or made it harder to do. I don’t know for sure. However, I have noted that some managers are collecting 45% of profits and require a $2,000.00 account!
I also noticed that the websites of these managers are often porrly made and spelled which makes me leary. They obviously don’t have a tech department.
One manager tells you to choose a trading style or strategy out of a menu of options. This wreaks of fraud to me. There is no single strategy that works for every pair. I would want a manager that choose the best strategy based on good opportunities, rather than just applying a one-size-fits all to any opportunity he may deem worthy and then blaming my menu selection for poor results.
In the Babypips school they warn that managers are always a “scam”. I would agree that charging 45% is a scam but I disagree that this practice is always a scam. It takes allot of time and dedication to trade forex yourself. Most folks don’t directly trade other markets. They have managers for that, so it seems to me that its only reasonable to have a forex manager if you just dont want to trade yourself. Not everyone wants to trade themselves.
Thats my two cents.
I think that i have seen that FXCM has managed funds but you have to go to therir website for more info.