Forex Guide answers:

I’ll be real honest with you. Managed accounts are okay but you can do much better if you spend the time studying the market yourself and learning the trading discipline.

Think of it this way, a managed accountant is not risking his own money, he’s risking yours.

You could spend 6 months trading demo accounts, reading technical analysis books, etc. And learn the techniques yourself and do much better than a managed account.

Conservatively with forex you could make 5-10% per month. Using a well developed software tool 20-30% is easily acheivable. Best of luck to you.

Forex Guide answers:

I’d stay away from the “automated” systems that some brokers are selling – they aren’t always as accurate as they say they are

Forex Guide answers:

The usual hedge fund arrangement for managed accounts is 2% management/20% incentive. Nobody gets 50% incentive. Soros doesn’t get 50%. Paulsen doesn’t get 50%. Nobody…

Forex Guide answers:

It is often the case that a well managed Forex account will far exceed the quarterly returns gained from other asset classes. However, trading the Forex market is not an easy proposition. Many Forex investors do not have the time, experience or discipline to trade the Forex market themselves and most of those that try end up losing their initial investment. Understanding the complexities of why different currency pairs move, being able to follow market movement 24 hours a day, and having the self-discipline to stick to a trading strategy is essential to successful trading. A Managed Forex Account is designed for investors with risk capital who do not necessarily have the know-how or time to trade the Forex market on their own but want the opportunity to participate in the Forex market.

Here is how it works:

1) The client opens a Forex account at a Forex broker of their choice. This Forex broker account is owned and controlled 100% by the client. All client funds deposited into that account are held by the Forex broker where the account was established.

2) The client authorizes a Forex account manager via a Limited Power of Attorney to execute trades on behalf of the client using the broker’s trading platform. This Limited Power of Attorney can be revoked at anytime and trading stopped immediately.

3) The client authorizes the Forex broker to pay a percentage (performance fee) of new profits on his/her account to the Forex account manager at the end of each month.

4) The Client is given complete access to view and monitor trade activity on his/her account. This includes seeing every trade taken on his/her account and viewing the account’s current balance and equity.

To avoid scams, make sure that you are opening your account at a fully regulated and reputable Forex broker and that the Forex account manager you choose is honest, fully transparent and realistic. A legit money manager will never guarantee that the account will make money.

Forex Guide answers:

You can find many managed forex account offers in one place and compare them at

www.autotradingservice.com and
www.managed-forex-accounts.com

Forex Guide answers:

Hi there,

All Online investment is similar with HYIP. Always read their “RISK DISCLOSURE STATEMENT” and “Terms and Conditions”

Try at your own risk! They do not guarantee your capital.

Forex Guide answers:

The Smart Money link Joe provided was very good.

The only managed Forex fund I’m aware of (there are surely more) is one run by GFT. The publish their monthly performance (http://www.gftforex.com/services/gftmanagedaccounts/history-wallwood.asp)
but you have to be careful because they charge a quarterly performance fee of up to 25%. The performance fee is based on any profit you show for the quarter. If they make $10,000 for you in the quarter, their fee is $2,500 – a bit steep.

As far as doing it your self in Forex, unless you are an extremely disciplined trader, have an appetite for reading everything you can about the economies of other countries, understand how the economy of one country affects that of another, can deal with large amounts of risks and enjoy watching the computer screen for hours, stay away from Forex.

I’ve been trading Forex for a couple years and have become marginally successful but frankly, I make more money in the stock market doing short term trading (a few days to a few weeks) using technical analysis (something I don’t advise unless you are willing to put in a lot of hours every week).

Whatever you do, stay far away from those highly promoted “systems” that promise to make you rich by buying when the lights are green or that generate income based on the carry (interest rate differentials in different countries).

Forex Guide answers:

I looked into having my account managed until I found a simple hedge system that seriously only takes about 15 minutes a week to do myself. It is so easy. I have found that when you are paying someone else to manage your account you are wasting money. Check out http://www.wiseforexinvestor.com and see if what they have to offer is worth your time. If you have any question about it feel free to give me a call.

Best Wishes,

Rex White
435-633-0101
503-922-1475

Forex Guide answers:

OK.

Forex Guide answers:

Daisy, you sound like a nice person, however this is not the right forum for you to ask such a question… You will attract every scam artist out their, they will impress you with their knowledge, system or promises, and you will wake up broke. The only people that make money on forex are the bank trading rooms for foreign currency conversions and trading. Split second decisions, millions of dollars at a time, information from around the globe, and still some of these brilliant people lose money for their bank. A managed account through a broker forget it, i am sorry.

Forex Guide answers:

This is a tough one. Investors with sizeable accounts do not look at advertisements for managed accounts. Everything is done via word of mouth.

The truly successful money managers do not need to advertise in order to find clients. Once they are generating consistent profits and dependable service they simply receive referral clients. This also acts as a filtering process and you are only dealing with qualified clients that are referred from you existing qualified clients.

I have found that many of the “money managers” that advertise are either just starting out or are bottom feeders. This is my personal opinion based on experiences shared by many of the investors that I work with.

If you were going to attempt such an advertising service I would recommend that you start with Investors Business Daily, Wall Street Journal and the Financial Times.

Good luck.

Paul

Forex Guide answers:

Price quotes for Forex managing account service is high – that is why I think the answer to your question is surely the service will be interesting.

As far as the price package, all managers choose different price marketing for the service.

If you are interesting in more Forex investment anti scam guide – please read this blog post http://www.forexmoneymanager.com/forex-managed-accounts-anti-scam-guide/

Forex Guide answers:

You would show a $5,000 gain and a $3,000 loss = a $2,000 taxable gain.

Forex Guide answers:

Yes, it is too good to be true..

Forex Guide answers:

Maybe you should try a product that offers auto trading which piggy backs all the major trading styles in the forex market. This is 90% autotrading, but If you don’t want to trade your self then go with a managed account. The people I talk to lose money with managed accounts.