subject: Managed Forex Account - What You Need [print this page] Are you just plain fed-up with trying to make good returns on your investments? There are a few not so well known ways to make massive returns on a consistent basis. One way some have turned to is by using a managed Forex account. You need to exercise extreme caution if you are thinking about doing this.
A managed account for Foreign Exchange investing is when a full service brokering firm uses your money to buy and sell currency pairs. With the right company, they will have experienced traders that know the ins-and-outs of this market.
There are pros and cons of using a Forex managed account versus doing your own currency pair trading. Some have turned to managed accounts as they got tired of searching for the right information on how to trade.
With one of these firms doing trades on your behalf, it is a set it and forget approach. No different than buying mutual funds. However, trying to find a firm that will do this well is tough. Like mutual funds, if your money is lost, there's no recourse. Frankly, these firms frighten me as there's no way to know if you will wake up one day and you trading account's wiped out.
With the few services out there that are indeed decent, you will need to deposit a large sum of money. Typically, the starting amount is at least $25,000. You need to pay close attention to fees. Using managed Forex accounts is very expensive. When they do make money for you, they will normally take about 30% of your profits.
After a couple of years of researching and trial and error, I've found that being in control of my own funds is the best way to go. It can now be as hands off as using a managed account but far more profitable.
This can be achieved by using software that you can download. It's very inexpensive to buy. Plus, you can test it out in a demo account which is something you cannot do with a managed service.
The Forex Bullet Proof collection consists of a basic robot, an add on for the robot, and the best manual trading systems which won in a recent competition. The combination included in the package insures that it will meet the desires of all forex traders.
The Forex Bullet Proof basic robot is designed to grow an account without a lot of risk. The basics of any trader should be to make money consistently and that is what this basic robot is designed to do. With a steady stream of short term and long term winning trades this robot shows some good potential. This is a good robot for beginners as well as seasoned traders.
