What is the best forex broker who does all the work for you?
- Filed under: forex broker
- Date: Nov 14,2008
basically there are a few out there but I want to know the best ones as in stable with high returns. thanks
When you say broker, I believe you mean a Forex account manager. In Forex, the broker is the intermediary who facilitates the currency trade. The Forex account manager is a third-party individual/company that manages the trade activity on your Forex broker account. It is called a Forex managed account.
Finding a legitimate, competent, experienced Forex account manager is not easy. There are a lot of Forex scams out there and so you have to be careful. Also, many of the longtime Forex managers are no longer taking new accounts. Here are some tips for finding a good Forex managed account program.
1) Start by doing research on who is taking new accounts. Google FX managed accounts, or Forex managed accounts, etc and you will find plenty of companies offering this service.
2) Find one that is realistic in their profit targets (If they are shooting for over 50% per month, RUN).
3) Spend at least a couple months researching, talking to, and watching different managers.
4) Don’t expect consistent weekly or even monthly returns. Forex is not a bank account that pays out a consistent return. Expect whip-saw returns with profits over six months or a year.
5) Start small and add to your Forex managed account as you gain more confidence in your manager.
Hope that helps and good luck!
2 Responses for "What is the best forex broker who does all the work for you?"
You want “stable” and “high” returns with forex while having the broker do all the work?
There is no such broker.
References :
When you say broker, I believe you mean a Forex account manager. In Forex, the broker is the intermediary who facilitates the currency trade. The Forex account manager is a third-party individual/company that manages the trade activity on your Forex broker account. It is called a Forex managed account.
Finding a legitimate, competent, experienced Forex account manager is not easy. There are a lot of Forex scams out there and so you have to be careful. Also, many of the longtime Forex managers are no longer taking new accounts. Here are some tips for finding a good Forex managed account program.
1) Start by doing research on who is taking new accounts. Google FX managed accounts, or Forex managed accounts, etc and you will find plenty of companies offering this service.
2) Find one that is realistic in their profit targets (If they are shooting for over 50% per month, RUN).
3) Spend at least a couple months researching, talking to, and watching different managers.
4) Don’t expect consistent weekly or even monthly returns. Forex is not a bank account that pays out a consistent return. Expect whip-saw returns with profits over six months or a year.
5) Start small and add to your Forex managed account as you gain more confidence in your manager.
Hope that helps and good luck!
References :
Echo FX prides itself on being an honest, transparent, and disciplined Forex account manager and educator. For more information visit our Forex managed account website at http://www.echocurrency.com or our Forex education website at http://www.academyofforex.com
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