Traders Union experts name the top-managed Forex accounts in 2023

The Forex market can be complex, and it can be challenging for investors to navigate the intricacies of currency trading. Managed Forex accounts offer a solution for those who want to invest in Forex but need more time or expertise.

Traders Union released a list of the best managed Forex accounts in 2023. These accounts are known for their excellent performance and professional management, making them popular among investors. 

What are Forex managed accounts?

According to Traders Union, managed Forex accounts are a form of passive investing with top Forex brokers in 2023. A professional trader or money management team trades on behalf of investors, charging a fee for their services. This approach frees passive investors from the burden of day trading and expands their investment options. However, as with any trading account, managed Forex accounts involve high risk. Despite the abundance of information on online trading, using a managed Forex account can be a practical solution for those who need more time or skills to trade on their own. This allows investors to earn income while their money works for them, similar to renting a boat instead of owning one.

What types of managed accounts are offered by brokers?

TU experts outline the main types of managed forex accounts offered by brokers, which include:

• Forex Copy Trading: This involves mimicking the trading movements of expert traders with high profits. Some platforms automate this process, like eToro. Managed account managers may use copy trading as part of their strategy.

• PAMM/MAM Accounts: PAMM (Percent Allocation Management Module) is an account management system that uses ratios to determine volume and returns. MAM (Multi-Account Manager) accounts allow a money manager to assign different ratios of leverage to different subaccounts, offering better opportunities for investors with high-risk tolerance.

• Advisory Services: Offer holistic portfolio recommendations from a financial advisor to help you build your wealth. Typically, these services provide consultations that detail strategies, best practices, and market recommendations.

• Managed Portfolios: Investment portfolios managed by a professional forex trader or financial expert on behalf of a client. These portfolios often include a diverse range of investments beyond just forex trading. Clients usually pay a flat or monthly fee based on the size of the portfolio.

Top managed Forex accounts

Traders Union analyzes some of the top-managed Forex accounts to follow in 2023. 

RoboForex

RoboForex, a leading copy trading broker, offers top-notch copy trading and various funds allocation tools with low fees. However, the platform lacks 24/7 customer support.

Tickmill

Tickmill is a top-managed forex account provider and broker, offering low fees and easy account opening processes, but its trading platform needs to be updated.

IC Markets

IC Markets, a top-managed forex account provider and broker, offers flexible allocation, real-time reporting, and transparency. The platform boasts raw pricing, great liquidity, fast order execution, and reliable service. 

FxPro

According to Trader Union FxPro reviews, the platform is a top-managed forex account provider and broker with excellent money management accounts, great flexibility, and control. Its main advantages include fee-setting options and rebates, which are unavailable in the UK.

Forex4you

Forex4you is a top-managed forex account provider and copy trading broker, offering a wide range of passive and active trading services with low minimum deposits, excellent trading conditions, and great customer support. However, it lacks MT5 integration.

Conclusion

Managed Forex accounts provide a practical solution for investors who lack the time or expertise to trade independently. By selecting a reputable broker and platform, investors can earn profits through the skills of professional traders or money management teams. However, it’s essential to carefully evaluate the broker’s reputation, regulations, trading platform usability, and terms and conditions before investing in a managed Forex account. Visiting their official website is recommended to gain a deeper understanding of Traders Union and their comprehensive review.