I have never used a fund manager simply because I’m in the process of setting up my own business to manage clients’ money When you deal with managed accounts, you open an account with the broker and the trader only has power of attorney to trade your account. The trader cannot deposit or withdraw from your account so getting scammed is impossible. Also make sure the trader is trading with a reputable broker otherwise it becomes too much of a risk. There are some places that will accept smaller amounts such as $10k-$20k for a managed account. If you don’t have full control over your money in regards to deposits and withdrawals, don’t invest. If a fund manager asks you to send the money directly to him/her, be very careful as it can easily become a scam.
On one of my dark days I thought I’d maybe invest in an automated account. ST gives you access for a month to what is called ‘mirror trading’ using a demo 100k account that you can distribute among a range of traders they have on their books. I allocated about half of that and they grew it by more than 7k in three weeks so if I had some money I’d certainly consider putting it with them. They don’t charge a fee they seem to make money from commissions they take from the traders…
If anyone is currently with ST I’d like to hear about your experiences.
regards
Liz
PS they want you to put in $5k to start but seem a
bit flexible
So Lexys do tell us what the average returns are ? I have seen several ads too here on this for more than 12 percent not just 5-10 percent. I was always in doubt over such claims even shown by results on myforex or other websites. They always show fancy charts and other things but I don’t believe in any of them. I would like to get an expert opinion on this.
My advice is to be very careful if you are planning to choose a money manager for your account. This could be too risky – you should check all the conditions that the money manager is offering to you. Values like maximum dropdown of the account, maximum risk, etc. are important and you must get known with it. Also, it is good to check if the money manager is having license or it is operating under the broker’s license. Last but not least it is a great importance with which broker you are going to open your managed account. If it is not a trustful one even the best trader could not bring you big success. Don’t forget to insist on a view only access to your account so you could follow the performance.
I think managed accounts are good for low experienced traders. They can get equal benefit having a definite amount of profit with managed accounts. I am planning to join any good company which give me good services for managed accounts.
Greetings. Managed accounts in principle I feel can be an especially useful tool for inexperienced traders or those with other time priorities, you could definitely use it as an instructional training wheel as you develop your trading craft.
I have thought about going down that route many times in the past. The responsibility on you would shift from finding edge and trading the markets yourself, to being anal retentive about your due diligence before selecting a company.
It would make sense to give up the day to day business of trading, if you cannot realistically achieve above the ROI a managed account could offer you.
As I think they are really good , Now they are becoming popular among people. Traders who had not a big skill of trading can get reasonable profit through managed accounts. I think brokers find good solution for investors , Now they can work in forex with minimal loss . They need not to spend a lot of time to become skilled in trading.
When you deal with managed accounts, you open an account with the broker and the trader only has power of attorney to trade your account. The trader cannot deposit or withdraw from your account so getting scammed is impossible. Also make sure the trader is trading with a reputable broker otherwise it becomes too much of a risk. There are some places that will accept smaller amounts such as $10k-$20k for a managed account. If you don’t have full control over your money in regards to deposits and withdrawals, don’t invest. If a fund manager asks you to send the money directly to him/her, be very careful as it can easily become a scam.