Why You Should Use a Forex Account Management Service
Forex account managers have the best market access and are able to pass along low transaction fees to their clients. The average fee charged for a transaction is 10% or 30%. In other words, if you invested money in your forex account with a forex account manager, you’ll earn money even if you don’t trade. They can manage your money and increase your guaranteed percentage return. And best of all, you don’t have to risk your money in the forex market.
If you’re looking for the most reliable forex account management service, you can check out a company called AvaTrade. Founded in 2006, AvaTrade is an Ireland-based derivatives broker. Their network of offices allows hundreds of thousands of clients to trade globally. They also pay their account managers with double the amount of money they risk! AvaTrade is also known for its high-quality customer service. They offer 24-hour customer support.
Another advantage of hiring an account manager is that the fees for services are usually lower than for managing your own accounts. Some account managers charge higher fees and have higher minimum opening balances. You may want to look at the fees and minimum opening balance of a forex account manager before you sign up. Obviously, you won’t want to lose money. However, you can use the funds to cover unforeseen expenses and maximize your profits. But make sure to look for a Forex account management service that offers both low fees.
Forex account management is an industry sector in and of itself. These professional traders know their stuff and can execute trading orders on your behalf. It is often the case that investors don’t have enough time to research the market, thereby relying on an account manager will allow them to concentrate on what they do best. In the end, it’s the risk taken that separates the professional from the amateur. A forex account manager will do the hard work for you.
Managed forex accounts are also more secure than unmanaged accounts. When hiring an account manager, you have to sign a Limited Power of Attorney. This document grants your money manager the authority to trade on your behalf. However, you can’t transfer the funds between you and the account manager unless you have a contract in place with them. But if you want to have peace of mind, you should hire a forex account manager.
Forex account management can be expensive. Fees can range from as low as $500 a month to as high as $50,000. The average fee for managing an account is based on the size of the account, the skill of the account manager, and your investment objectives. To make a $500 monthly return, you need an account manager who can average 1% profits and maintain a $50,000 balance. The fees for forex account management are a mix of management fees and performance fees.