For anyone who has his hands full with a day job or has other important things to do like to attend to the needs of the family, learning the secrets of foreign exchange trading market may not be the option. Any beginner has a fair chance of faring well in this kind of high risk yet lucrative business. Believe it or not, even if you consider yourself as a complete dummy in foreign exchange, you can still grab a fair share from its trillions of dollars at stake every single day. And that will be via subscribing to a forex managed account.
The concept or idea is actually conceived from another wealth management principle which states that getting rich does not have to depend solely on your own personal efforts. Getting rich is actually about using other people’s time and other people’s money. According to a successful finance coach, the best business people have the luxury of time. When applied to the world of foreign exchange trading market, the secret to success without spending much time will be via forex managed account.
Here, you allow a highly specialized forex trader who has more experience and insights on the field to transact on your behalf. This way, you can be confident that somebody who has already mastered the trade gets to hold your account. When you have a forex managed account, all you have to do is to give a definite scheme for sharing of income. You can give your professional trader/account manager commission based income or a fixed income. This will depend on your personal agreement.
But then, if you want to play it safe and you do not want to share your income, then you can acquire or buy your own manager. This is possible by getting your very own automated account manager. This software is programmed to analyze your existing transactions, trends in the market, several statistical components, signals, and indicator. Based on these analyses, the automated account manager will proceed with transacting.
Having your very own forex managed account has a lot of perks. The following are the top 5 reasons why you should go for a managed account:
- They are usually run by experts who have vast experience, skills and knowledge. Therefore, you will have nothing to worry about.
- With a forex managed account, you have an assurance that you will have definite returns. Getting profit is an easy thing for account managers, so they only charge a small percentage in commissions.
- Since forex accounts are liquid in nature, you can simply withdraw all of your money if you think that you do not want to proceed with a managed account.
- You do not need to have a lot of money. All you need is to secure at least $5,000 as the initial investment.
- With a forex account manager, you will have a consistent supply of information and updates on the forex market.
So, if you are too afraid to start your forex trading experience, why not go for a forex managed account?