How a Great Fx Account Manager Can Help You Save Money
What exactly are the attractions of hiring a forex money manager to take care of your money by means of a managed forex account? Well, first off, the reason the majority of investors use such services, is that they think that they will get much better results than if they traded on their own. Is this the case?
In most cases, yes. For the average retail trader, fx trading is an very tough skill to learn, and also the majority of traders fail within 3 months. Most then give up, or lose even far more dollars in forex, or try to get a reputable managed account to invest their funds in. Looking for a decent and high performing forex manager can sometimes be challenging, however its worth the search.
How can a managed forex account help you in practice? The first advantage of a managed forex account is it gives you access to top quality forex money managers, with out needing to invest hundred of thousands of dollars. Whilst most hedge funds normally require commitments of over a million dollars, you are able to set up a managed forex account with just a few thousand dollars.
The key advantage of managed forex accounts is the investor retains full control over his investment, and the chance for fraud is virtually eliminated. The key to this, is that you open an account with the relevant forex broker, and at no point do you need to send funds to the fund manager. Which means that the manager has no access to your money.
Additionally, not just does the forex money manager have no control over your funds, however the structure of a managed forex account means that you have complete control over access to your funds. This comes in a number of diverse techniques. Firstly, you have the capability to withdraw component of, or all of your account balance, at any time, and free of any charges. This offers a flexibility which doesn’t exist in other types of investment, like traditional asset classes like mutual funds or other investment funds.
These elements thus explain the growing demand for managed forex accounts among the retail investment community. Recently, there have been countless cases of so called hedge funds defrauding their investors of millions of dollars. Several investors have trusted their funds with a manager, to lose every thing.
