subject: How a good Forex Money Manager Can Save You Money [print this page] How a good Forex Money Manager Can Save You Money
So what are the attractions of hiring a forex money manager to look after your money by means of a managed forex account? Well, initial off, as well as the reason the vast majority of investors use such services, is that they think that they can get better results than if they traded on their own. Is this the case?
In most cases, yes. For the average retail trader, forex trading is an extremely hard skill to master, along with the vast majority of traders fail within three months. Most then give up, or lose even a lot more money in forex, or try to discover a reputable managed forex account to invest their money in. Finding a decent and high performing currency exchange manager can occasionally be challenging, but it well worth the search.
So how can a managed forex account assist you in practice? The initial benefit of a managed forex account is that it gives you access to top quality forex money managers, without having to invest hundred of thousands of dollars. Whilst most hedge funds often need commitments of over a million dollars, you'll be able to set up a managed forex account with just a couple of thousand dollars.
A key benefit of managed forex accounts is that the investor retains full control over his investment, and also the chance for fraud is virtually eliminated. The key to this, is that you open an account with the relevant currency brokerage, and at no point do you have to send funds across to the fund manager. This means that the manager will have no access to your cash.
Additionally, not only does the forex money manager have no control over your funds, but the structure of a managed forex account means that you've got complete control over access to your funds. This comes in several unique methods. Firstly, you've got the ability to withdraw part of, or all of your account balance, at any time, and free of any charges. This provides a flexibility which does not exist in other forms of investment, including traditional asset classes like mutual funds or other investment funds.
These factors thus explain the growing popularity of managed forex accounts amongst the retail investment community. In recent times, there have been countless cases of so referred to as hedge funds defrauding their investors of millions of dollars. A lot of investors have trusted their funds with a manager, only to lose every thing.
Thus to conclude, it could be seen that obtaining a forex money manager to manage your forex account has a distinct number of advantages over a conventional form of investment. In this uncertain world, where the housing marketplace is in free fall, and stock markets are collapsing, the capability of a retail investor to access the forex market by way of a well managed forex account is of wonderful benefit.
