17 Best Managed Forex Accounts in 2024

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Best Managed Forex Account in 2024 - RoboForex

Your capital is at risk.

Best managed Forex accounts are:

RoboForex - (CopyFX) - best copy trading system at all

FBS - best copy trading app

Forex4You - best passive income options with no minimum deposit

FxPro - MAM account with no management fee

IC Markets - PAMM/MAM account with low fees

Tickmill - best MyFxBook Autotrade accounts with low fees

In this guide, we'll be exploring seventeen of the best managed forex accounts available in 2024, along with their various features, elements, pros, cons, and everything in-between. We'll also get into what exactly managed forex accounts are, the types of managed accounts offered by top brokers, the differences between advisory services and copy trading, and how to choose the right managed forex account for you. Managed accounts differ quite a bit from active trading, so we'll also explore what makes managed accounts different, along with their potential risks. It's worth noting that while we highly recommend each of the entries on our list, there are thousands upon thousands of options available for managed forex accounts.

  • What is a performance fee?

    Performance fees are commissions that are paid to the managed forex company, broker, or individual traders. Fees vary significantly, you can expect it to be anywhere from 25% to 50%. Performance fees are typically applied at the end of the month, assuming that there are profits in your managed account that go beyond the high water mark.

  • What is a high water mark?

    This is the absolute maximum amount of money that is generated after performance fees have been applied to the account. A high water mark needs to be exceeded before any additional profits can be deducted again.

  • What is a management fee?

    Management fees are often one-time starting fees that investors will need to pay in order to open their account in addition to the account minimum deposit. For other accounts, management fees are deducted yearly and have to be paid to keep the account open. Unlike a performance fee, you’ll still have to pay a management fee even if your account does not have profits.

  • Are managed Forex accounts safe?

    Yes, they are safe. However, it’s worth noting that foreign exchange is a very volatile market. Even if you have the best traders managing your portfolio, you could still experience unexpected losses.

Best Forex managed accounts comparison

eToro, Interactive Brokers, RoboForex, AvaTrade, FxPro, Swisquote, FXTM, Naga, IC Markets, Fidelity, InstaForex, FxOpen, Tickmill, Forex4you, FBS, FP Markets, and FXCM. Each of these managed accounts are ideal for forex trading with a hands-off approach.

No. Broker Type of Service Account Pros Minimum Investment Management Fee Regulated IN Accepting Clients From the US

1

RoboForex

Auto-trading (CopyFX)

Excellent automated system

$10-100

None

Cyprus Securities and Exchange Commission (CySEC)

No

Open an Account

Your capital is at risk.

2

FBS

N/A

Offers negative balance protection

$100

0.20% to 0.49% and a flat gross advisory fee

Cyprus Securities and Exchange Commission of the Republic of Cyprus

Yes

Open an Account

Your capital is at risk.
76.5% of retail accounts lose money when trading ᏟᖴᎠs with this provider.

3

Forex4You

PAMM

Good variety of active and passive trading options

$0, minimum trade volume is 0.01 lots.

Vary

Financial Services Commission (FSC)

No

Open an Account

Your capital is at risk.

4

FxPro

MAM

Lots of tools for active and passive traders

$100

None

South Africa Financial Sector Conduct Authority

No

Open an Account

Your capital is at risk.

5

IC Markets

MAM and PAMM

Low fees

$200

$3.50 per standard lot round turn

Australian Securities and Investments Commission (ASIC)

No

Open an Account

Your capital is at risk.
Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

6

Tickmill

Multi-account

Low forex and non-trading fees, easy to set up

$100

2 currency units per side per lot (0.0020% notional)

Seychelles Financial Services Authority (FSA)

No

Open an Account

Your capital is at risk.

7

InstaForex

PAMM

Excellent customer service and technology

$1

0.5% to 3.5%

Financial Services Commission (FSC)

Yes

Open an Account

Your capital is at risk.

8

FP Markets

MAM and PAMM

Great trading environments

$100

Varies, based on High Water Mark

Australian Securities and Investment Commission (ASIC)

No

Open an Account

Your capital is at risk.

9

AvaTrade

MAM

Excellent risk management and expert assistance

$100

None

Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA)

No

Open an Account

Your capital is at risk.
71% of retail investor accounts lose money when trading CFDs with this provider.

10

Swissquote

PAMM

High-class service

Between $1,000 and $50,000 for forex

0.025% quarterly on assets under management

Financial Conduct Authority (FCA)

Yes

Open an Account

Your capital is at risk.
Between 70 and 80% of retail investors are losing money when trading forex instruments and CFDs.

11

FxOpen

N/A

Dependable regulation and customer support

$10

N/A

Financial Conduct Authority (FCA) and Australian Securities and Investments Commission (ASIC)

No

Open an Account

Your capital is at risk.
77% of retail investor accounts lose money when trading CFDs with this provider.

12

FXTM

FXTM Invest - copy trading

Access to copy trading, well-regulated

$50

Vary

Financial Services Commission of Mauritius

No

Open an Account

Your capital is at risk.
80% of retail investor accounts lose money when trading CFDs with this provider.

13

eToro

Copy Trading

Huge Choice of Successful traders to copy, User-friendly platform

$200

$0

UK, Cyprus, US, Australia

Yes

Open an Account

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

14

Naga

Naga Autocopy

Great range of trading instruments

$0

Vary

Cyprus Securities and Exchange Commission (CySEC)

No

Open an Account

Your capital is at risk.

15

Interactive Brokers

Interactive Advisors

Highly Regulated Broker, No entry or exit fees

$100 (reasonable level is $5000 and more)

Form 0.08% to 1.5% per year

US, UK, Canada, Australia, EU, Hong Kong, India etc.

Yes

Study Review

16

FXCM

N/A

Low fees

$50

2% annually

Financial Conduct Authority (FCA)

No

Study Review

17

Fidelity

Advisory services

Low fees

$25000

0.35% of total account balance

Financial Conduct Authority (FCA)

Yes

Study Review

Top 17 managed Forex account overview

RoboForex - (CopyFX) - best copy trading system at all

Open an Account
Your capital is at risk.

RoboForex, or CopyFX is a top managed forex account provider and copy trading broker. This platform offers top-notch copy trading, low minimum investments, thousands of participants that are part of the community, and lots of different funds allocation tools. The main advantages of RoboForex include great educational tools and relatively low fees. This platform does have some downsides, including a lack of 24/7 customer support.

FBS - best copy trading app

Open an Account
Your capital is at risk.
76.5% of retail accounts lose money when trading ᏟᖴᎠs with this provider.

FBS is a top managed forex account provider and broker. This platform offers a variety of assets for forex trading, a demo account, regulatory compliance, copy trading capabilities and auto trading capabilities. The main advantages of FBS include one-click execution, access to expert advisors, tons of tools and technical indicators, and decent customer support. This platform does have some downsides, including a lack of PAMM accounts.

Forex4You - best passive income options with no minimum deposit

Open an Account
Your capital is at risk.

Forex4you is a top managed forex account provider and copy trading broker. This platform offers a wide range of passive and active trading services, an excellent reputation in brokerage, low minimum deposits, and a wide range of assets to trade. The main advantages of Forex4you include excellent trading conditions, no trading restrictions for algorithmic trading, a great social trading platform Share4You, respectable insurance policies, and great customer support. This platform does have some downsides, including a lack of MT5 integration.

FxPro - MAM account with no management fee

Open an Account
Your capital is at risk.

FxPro is a top managed forex account provider and broker. This platform offers excellent accounts for money managers, PAMM and LAMM accounts, great balance, and great flexibility. The main advantages of FxPro include an excellent level of control for money managers, the ability to set one’s own fees, and the ability to earn rebates directly from FxPro. This platform does have some downsides, including its lack of availability in the United Kingdom.

IC Markets - PAMM/MAM account with low fees

Open an Account
Your capital is at risk.
Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

IC Markets is a top managed forex account provider and broker. This platform offers access to PAMM and MAM accounts, very flexible allocation capabilities, real-time reporting, and full transparency when it comes to performance and commissions. The main advantages of IC Markets include raw pricing connectivity, great liquidity, great leverage, fast order execution, and reliable service. This platform does have some downsides, including a limited product offering and a lack of investor protection for those outside of the European Union.

Tickmill - best MyFxBook Autotrade accounts with low fees

Open an Account
Your capital is at risk.

Tickmill is a top managed forex account provider and broker. This platform offers forex and CFD trading, great regulatory practices, low fees for trading forex, and free deposits and withdrawals. The main advantages of Tickmill include its MT4 compatibility, easy account opening processes, and low trading fees. This platform does have some downsides, including an outdated trading platform.

InstaForex - PAMM account with excellent customer service

Open an Account
Your capital is at risk.

InstaForex is a top managed forex account provider and copy trading broker. This platform offers PAMM investments, great copy trading capabilities, excellent leverage, and a wide range of forex instruments to trade with. The main advantages of InstaForex include top-notch trading conditions, tons of instruments for trading, great opportunities for making passive income, and the opportunity to work with tick deals to keep things low-risk. This platform does have some downsides, including somewhat frequent trading terminal freezes and a lack of customer support.

FP Markets

Open an Account
Your capital is at risk.

FP Markets is a top managed forex account provider and broker. This platform offers excellent leverage, great regulatory practices, access to a wide range of currency pairs, and tons of additional assets. The main advantages of FP Markets include a large number of assets, its top-notch trading platform, and free demo accounts. This platform does have some downsides, including somewhat high fees. Negatives aside, FP Markets is an incredibly successful broker known for its leverage and wide range of currency pair. You’ll be able to find a ton of assets on this platform, making it easier than ever to create the right trading strategy and managed forex account.

AvaTrade - copy trading with xcellent risk management tools

Open an Account
Your capital is at risk.
71% of retail investor accounts lose money when trading CFDs with this provider.

AvaTrade, or Learn2Trade, is a top managed forex account provider and copy trading broker. This platform offers a MAM portfolio, complete transparency not usually associated with brokers, and top-notch demo accounts. The main advantages of AvaTrade include excellent regulation, great information about benefits and risks, and a decent revenue share structure. This platform does have some downsides, including a high minimum investment. AvaTrade also offers ultra-detailed guides on the trading strategies they implement, as well as their risk management processes. If you’ve never set up a MAM account before, this brokerage will walk you through every step of the process.

Swissquote

Open an Account
Your capital is at risk.
Between 70 and 80% of retail investors are losing money when trading forex instruments and CFDs.

Swissquote is a top managed forex account provider and broker. This platform offers great security capabilities, low withdrawal minimums, and a wide range of currency pairs. The main advantages of Swissquote include access to a ton of different markets and products, no inactivity fees, and a great background with a dependable reputation. This platform does have some downsides, including high trading fees, a somewhat confusing selection of tools, and a lack of transparency about the cost of some tools.

FxOpen - best copy trading system by user experience

Open an Account
Your capital is at risk.
77% of retail investor accounts lose money when trading CFDs with this provider.

FxOpen is a top managed forex account provider and broker. This platform offers high-level service, tones of excellent trading conditions, new and innovative technology, and compatibility with MT4. The main advantages of FxOpen include profitable trading conditions, great trading variety, the ability to reduce commission fees, PAMM services, and auto-trading capabilities. This platform does have some downsides, including a lack of educational materials and a lack of actual PAMM accounts.

FXTM

Open an Account
Your capital is at risk.
80% of retail investor accounts lose money when trading CFDs with this provider.

FXTM is a top managed forex account provider and broker. This platform offers Mt4 and MT5 capability, top-notch ECN and standard accounts, great regulation, and a huge news, analysis, and educational offering. The main advantages of FXTM include ease of use, great capabilities for beginners, and easy account setup processes. This platform does have some downsides, including lackluster customer support. Still, with FXTM, you can access a ton of different options for creating your account and building your trust management. FXTM’s managers will do everything they can to help you select the best possible investment strategy, format, and plan with as little risk as possible. We’d recommend this platform for beginners.

eToro - huge choice of successful traders to copy

Open an Account
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

eToro is a top managed forex account provider and broker. This platform offers full regulation, no management fees, and the ability to keep all of your profits. The main advantages of eToro include access to forex managed funds, access to crypto and stocks, and a low minimum deposit for copy trading. This platform does have some downsides, including a high minimum investment to use CopyPortfolio.

Still, eToro is one of the best social trading and copy trading platforms in the world, especially when it comes to foreign exchange. This platform’s unique managed forex trading service is very easy to use, and you can easily search for the right forex traders to managed your portfolio.

Naga

Open an Account
Your capital is at risk.

Naga is a top copy trading provider and online broker. This platform offers excellent regulation compliance, excellent support, a wide variety of assets, and MT5 capatability. The main advantages of Naga include reliability, a great range of instruments for trading, and a top-notch social trading environment. This platform does have some downsides, including a lack of customer support and too many conditional variations between entities.

Interactive Brokers

Interactive Brokers is a top managed forex account provider and broker. This platform is technically not a managed account, but rather, Interactive Brokers manages a large number of accounts for financial advisors who clear their customer accounts with Interactive Brokers. The main advantages of Interactive Brokers include low pricing, advanced tools, and low margin rates for forex. This platform does have some downsides, including a rather outdated and difficult-to-navigate website.

FXCM

FXCM is a top managed forex account provider and broker. This platform offers a fast account opening process, great research tools for technical analysis, technical indicators, and a rich (though limited) variety of assets for forex. The main advantages of FXCM include its high-quality educational content and relatively low fees. This platform does have some downsides, including a limited portfolio of products, high withdrawal fees, and a lack of two-step authentication.

Fidelity

Fidelity is a top managed forex account provider and broker. This platform offers excellent research resources, a huge offering of products, dozens of real-life branches around the U.S., and great forex trading capabilities. The main advantages of Fidelity include its excellent mobile platform, lack of order flow costs, and general low fees. This platform does have some downsides, including a lack of futures and crypto trading, as well as higher pricing for managing portfolios when compared to competitors.

What are managed Forex accounts?

Managed accounts services are excellent for passive investing with the leading forex brokers of 2024. Essentially, a managed forex account is a type of currency trading account that a professional trader or money management team will use to make trades on your behalf. Such accounts charge a fee for this service, but that fee is often quite negligible and can definitely be worth it.

A managed forex account can take the burden of day trading off the plate of passive investors and less active traders as such accounts provide access to different markets and assets beyond stocks and bonds. Nevertheless, any trading account should be considered high risk as the objective is usually to better optimize investment capital and take advantage of more frequent opportunities to make money in the markets. This is where utilizing the benefit of a more experienced trader or trading team to work on your behalf can pay off.

Because there is a large amount of online free and paid information about learning how to trade and do it yourself, most traders do not consider workable alternatives. They also frequently fail to assess the degree of difficulty and time commitment required to learn how to trade themselves. By using a managed forex account investors can continue to receive revenue from their company while their money is working for them generating extra income. Think of it like owning a boat. How many ex-boat owners can you find that will recommend it as a good idea? Maybe renting a boat would work fine.

What types of managed account are offered by brokers?

The main types of managed forex accounts that are offered by brokers include forex copy trading, PAMM accounts, MAM accounts, advisory services, managed portfolios, and some other rarer types of accounts. It is worth noting that some of these “types” of managed accounts are technically not managed accounts at all, but are very closely related, as they utilize the expertise of more experienced market participants.

Forex Copy Trading

Copy-trading can be a part of a managed forex account, but it is a concept all of its own. Copy trading is simply the process of finding an expert trader with high profits and mimicking each and every one of their trading movements. Many traders will monitor major exchange networks and follow famous traders in order to make the best possible trading choices. Some platforms even automate this process, like eToro. You might be able to request that the manager of your managed account uses copy trading.

PAMM/MAM Accounts

PAMM, or Percent Allocation Management Module, is an account management system that uses ratios to determine volume and returns. The activity of the account owner, such as trades, profits, and losses, is split between managed portfolios using the PAMM ratio.

MAM simply refers to Multi-Account Manager accounts. These accounts make it possible for a money manager to assign different ratios of leverage to different subaccounts, if the investor prefers. This makes managed accounts owners who have a high-risk tolerance gain better opportunities to invest.

Advisory services

Advisory services can be a part of a managed forex account, but such services are very different from simply having an account. With a basic managed forex account, you can briefly consult with your money manager and leave the entirety of trading to them. With advisory services, you’ll be able to meet with a financial advisor. That financial advisor will provide holistic portfolio recommendations to help you build your wealth. Such advisors with offer consultations that detail strategies, best practices, and market recommendations. When you open a managed account, you might be able to receive advisory services for free.

Managed Portfolio

A managed portfolio is an investment portfolio that a professional forex trader or financial expert will make investments through on behalf of a client. Managed portfolios are pretty much synonymous with managed accounts, though it is worth noting that managed portfolios tend to include a diverse range of investments that go beyond just forex trading. Typically, a client will pay a financial advisor a flat fee or monthly fee to manage their account and make trading choices, though this fee will be based on the size of the portfolio itself.

Generally, a 1% to 2% annual fee applies.The manager will usually take a portfolio allocation approach with a focus on more traditional assets, such as stocks, bonds, ETFs, and mutual funds.

Other Services

Managed forex accounts can include individual accounts, which are solo accounts based on an individual client’s financial goals and requests. Such accounts typically require a minimum deposit of around $10,000 to get started. Pooled accounts are also quite popular among newbie investors. Pooled accounts deal with a number of different investors in one single account. A client can open an account that is managed by one investor, who oversees the trading decisions of the entire account. Usually, the minimum deposit for such an account is a lot lower at about $1,000 to $2,000 to get started.

Managed accounts services comparison

Advisory Services Copy Trading PAMM/MAM

You Can Choose the Manager (Yes/No)

No

Yes

Yes

Managed by Professionals

Yes

Not Always

Not Always

Funds remain on the investor’s account

Yes

Yes

No

Additional software must be installed

No

Depends on platform

Depends on platform

Ability to halt trades at any time

No

Yes

No

Guarantees for investor

No

N/A

N/A

How To choose a managed Forex account?

Choosing a managed forex account doesn’t have to be difficult. Any of the sixteen mentioned accounts in this guide are worth getting into. Generally, all you need to do is thoroughly evaluate the broker you want to go with. Look into the regulations and overall reputation of the broker. Who are they regulated by? What are reviews of the broker like online? Take the time to really browse online reviews from former or current customers. Is their service satisfactory?

From there, you’ll want to evaluate the actual platform. Although it won’t matter much if you are handing over trading decisions to a manager or professional trader as the platform will impact them. However, you will be monitoring your managed account, so it helps to make sure that the platform is user-friendly, easy to use, and very visual. Subsequently, examine the details of the terms and conditions to ensure that you understand your risks and detailed costs.

As an example, cryptocurrency traders that are stuck in accounts due to excess volatility in 2022 were surprised that their account assets once held at the broker, exchange or lending provider, became assets of the firm in the case of bankruptcy or reorganization.

How do managed Forex accounts work?

Managed forex accounts work by simply putting your forex investment processes in the hand of a professional. A professional trader or financial expert will select your bids and trade for you. All you have to do is fulfill a minimum deposit and determine how much money you will be putting into the account per month. Those who opt for this type of account can get very large gains, but also potential losses. Essentially, if you are not confident in your trading ability, your best bet would be to leave your portfolio in the hands of a professional.

Forex managed account vs active trading

Active trading is the process of regularly trading in the forex market on your own. Also known as day trading, traders who take on this line of work spend hours monitoring the conditions of the market, identify different asset movements, make trades, and make decisions before their investment of choice reaches a particular expiration date.

Managed forex accounts have quite a few advantages over active trading. To start, you’ll have professionals taking on the process of trading for you. You won’t have to sit in front of a screen to make trades all day. The trading will be happening privately, passively, and behind the scenes. You won’t have as much control, but you won’t have to worry about making rookie mistakes.

Are managed accounts risky?

Any type of forex trading is risky. This is a very risky and volatile market. There is the potential to make serious gains but also serious losses. However, when it comes to a managed account, their risks are lower than individual trading. Still, no one can guarantee profits in financial markets. For example: In copy trading, you can adjust the maximum risk level by subscribing to different traders and setting the maximum loss size after which copying will stop. You can set up a similar arrangement with the manager of your investment account. You won’t simply throw your account at a professional and be on your way. You’ll be able to choose your level of risk and what strategies you would like your account manager to utilize.

An important aspect related to the risk of a forex managed account includes the maximum amount you are willing to risk to participate. This is the maximum stop loss for the account. In other words, let’s say the maximum you are willing to lose is 15%, for example. Then, if the account goes down 5% you and the manager agree to have a conversation about the performance and reiterate that your acceptable loss is 15%. If the account goes below 15% the manager must stop trading and the relationship is to be reevaluated during a meeting with the manager.

Summary

Managed forex accounts are specialized investment portfolios in which a third party will conduct trades and make investments on the behalf of the account owner. In general, a professional trader, broker, or financial expert will be responsible for the account. Even though someone else is trading on one's behalf, the owner of the account will have complete ownership of the account and can even provide requests and input when it comes to trading styles or choices.

Our favorite companies to go with for managed forex accounts include eToro, Interactive Brokers, RoboForex, AvaTrade, FxPro, Swissquote, FXTM, Naga, IC Markets, Fidelity, InstaForex, FxOpen, Tickmill, Forex4you, FBS, FP Markets, and FXCM. Each of these brokers has various pros and cons, but we would recommend each of the forex mentioned traders who want to make passive income.

Despite being convenient, it's worth noting that managed forex accounts can still be risky. Any involvement in foreign exchange has high risks and high rewards. However, opting to have a professional take on the task of trading for you will make your investments just a little bit safer in the long run.

Team that worked on the article

Oleg Tkachenko
Author and expert at Traders Union

Oleg Tkachenko is an economist-analyst and a risk manager with a practical experience of working in financial institutions for over seven years. Oleg specializes in the analysis of commodities, Forex, stock markets and non-standard investment markets (cryptocurrency, hypes, peer-to-peer lending). He holds a Master’s Degree from the Ukrainian Academy of Banking of the National Bank of Ukraine, Kharkiv Banking Institute. Oleg became an author for Traders Union in 2018; in 2020 he joined the TU’s team of financial experts.

At Traders Union, Oleg is involved in expanded reviews of brokerage companies, and in monitoring the relevancy of the information provided in them. He analyzes trading strategies and indicators, and prepares educational articles on the topic of finance. In addition, Oleg carries out expert research in the Forex and stock markets, and also binary options and cryptocurrency markets. In particular, he checks brokerage companies, studies their performance and growth, tests new services offered by brokers, software and the level of customer support.

Oleg’s motto: Information is a force that opens boundless opportunities, but requires relevancy!

Bruce Powers
Contributor

Bruce Powers is an expert trader and technical analyst with over 20 years of experience in Forex, commodities, ETFs, cryptocurrencies and other assets. He is an active trader, technical and fundamental analyst, media commentator, educator and a writer. As an author for Traders Union, he contributes his deep analytical skills, expertise and understanding of the global economy and financial markets to provide market analysis and insights. Powers is also a frequent guest on business TV news shows.

Mirjan Hipolito
Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.