Compare the best forex managed accounts

A managed account gives you the chance to put your money in the experts’ hands and let them trade the forex market for you. This guide compares the best accounts around.
By: James Knight
James Knight
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed,… read more.
Updated: Aug 2, 2021
Tip: our preferred broker is, eToro: visit & create account

This beginner’s guide takes you through what a managed account is and how it works. Then get some advice as to the key things to look out for and have your most important questions answered.

Where can I find the best managed accounts?

If you just want to get started, these brokers are the best places to sign up for an account. You can head to their websites using the links in the table below, or keep reading to learn more about how to pick between them.

Min. Deposit
User Score
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Start Trading
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, ETF’s, indices and commodities. eToro offers a wide range of currency pairs and other trading instruments. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
Min. Deposit
User Score
55+ currency pairs available
Trade on a trusted platform
24/7 support via live chats, email or phone call
Start Trading
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
Payment Methods
Bitcoin, Credit Card, Debit Card, Visa
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.
Min. Deposit
User Score
Can fund with BTC
64 global companies including Netflix and Amazon
Free deposits and withdrawals
Start Trading
EagleFX is an online digital asset, Forex and CFD broker providing traders across the globe with cutting edge technology to trade the world’s markets. Our focus has been to change the way people trade Digital Assets and Forex. We are driven to provide traders with incredibly low-cost pricing across all Digital assets, FX, stocks, indices, commodities and futures along with industry-leading 24/7 live customer support.
Payment Methods
Bitcoin, Credit Card, Debit Card, Wire Transfer
Full regulations list:
EagleFX offers leveraged trading on a range of assets within its platform. CFD and Spot Forex trading do carry a degree of risk which may result in you losing more than your initial investment. Please ensure you fully understand the risks involved with leveraged trading and ensure this is not detrimental to your personal or institution's financial well being.

What is managed account?

It’s a forex trading account that’s controlled by a professional. Managed accounts are similar to a stock market fund, where you provide the money and someone else makes the decisions, but they’re more of a formal arrangement where you give somebody else the power to make trades on your behalf.

This type of account is best suited to beginners who want to trade forex but don’t feel they have the expertise to do so. It also might be the preferred route for someone who doesn’t have the time to research different currencies and build their own trading strategy.

How does it work?

By effectively giving someone else full control of your account. You sign up through a forex broker and then sign an agreement that permits the account manager to make transactions for you.

As far as you’re concerned, that’s virtually all you have to do. The manager then makes decisions on which currency pairs to trade based on their own experience and the trading signals they use. You can set some guidelines over which factors the manager should consider before making a trade but for the most part they’re left to their own devices.

How to set up a managed account – a step-by-step guide

  1. Research the options. You should look around and compare all the options available. Choose an account based on things like its trading strategy, the currency pairs it’s interested in, and the size of your budget.
  2. Sign up for an FX broker. Once you’ve chosen who you want to manage your account, you need to sign up for the broker that provides it. This is usually simple but you should be prepared to provide some personal information and verify your account with a form of ID.
  3. Subscribe to the managed account. Before you can use one of these accounts you need to subscribe to it. Read through the prospectus and make sure you understand the fee structure before you agree to anything.
  4. Sign the relevant documents. To let someone else trade on your behalf you need to sign a contract. It’s known as a Limited Power of Attorney Agreement (LPOA) that allows a third party to make your money decisions, within a fixed forex remit.
  5. Transfer money. Once your documents are approved you should be given the account details so that you can fund it and the manager can start trading. After that, your work is done and it’s up to them to make the right decisions.

Things to look out for

Before you sign up to anything you should compare accounts in order to pick the best one. Compare basic features like the design and how easy to use a platform is to start with, and then use the factors below to choose an account that works for you.


A managed account is usually much more expensive than trading forex yourself. You might have to pay a fee to cover the costs of trading, or an annual fee to use the account. Those annual fees can be high: as much as 30-40% a year is not uncommon.

Other accounts make money by charging a percentage of monthly profits. Again, expect that figure to be high, and it can be between 20-40% of the money the account makes each month.

Minimum deposits

Another feature of this type of account is that you sometimes have to put down a substantial deposit to start using one. The range of minimum deposits is wide, and at the lower end there are some platforms that ask for just $50-100. It’s more common to see $500-1,000, while in some cases you have to deposit tens of thousands to use an account.

Trading system

Different managers use different indicators to decide which currencies to trade. Some use simple technical indicators like support and resistance levels, others might go for more complicated strategies. The account prospectus should give you this information and you can use it to compare the options on offer.

Past performance

Past performance is no guarantee of future success but it is something that should factor into your decision. To start with, you want to make sure the broker publishes a history of its account. If there’s no way to verify how well a manager has done, it’s best to steer clear completely. 

Otherwise, you want to check that the account’s methods have met with some success in the past. If it’s trading using a specific set of indicators, then you want proof that they work before you invest your money.

Types of account

There are different types of managed accounts available. There is the traditional individual account, where you sign over control to a manager who controls your money and yours alone. Then there are pooled accounts, which are much more like a mutual fund where the manager controls money that’s contributed by lots of different investors.

Individual accounts mean that the manager is more focused on achieving the best for you, while pooled accounts let you spread the fees with other investors. You might be able to choose a pooled account that focuses on a particular trading strategy or set of currency pairs.

Additional features

Forex trading relies on leverage in order to make big enough trades to profit from tiny price changes. The amount of leverage a platform offers is something to consider. As is the range of currencies available. 

An account that sticks to the major pairs with low leverage might be less risky. One that trades the exotics with lots of leverage could open up the potential for big wins, as well as the risk of much bigger losses as well.

Quick answers to key questions

Are managed accounts safe to use?

The ones that are provided by regulated forex brokers are perfectly secure. However, there are a lot of malicious actors out there and you should beware of loud and unverifiable claims about how much money you can make.

Can I sign up with more than one forex broker?

There is no limit to the number of brokers you can have an account with. Just note that setting up multiple managed accounts might be very expensive.

Should I let someone manage my forex account?

Possibly, if you don’t have the time, expertise, or psychology to trade currencies but want to try to make money from it. Managed accounts can be useful for beginners or people who don’t want to learn the ropes themselves. However, they certainly aren’t for everyone. They’re more expensive than regular forex trading accounts and there is no guarantee of success. 

If you are thinking about using one you should spend time comparing accounts. It pays to think long and hard before committing your money to somebody else and you want to be sure that they can be trusted and are likely to perform better with it than you could. 

Still undecided?

Here is a final summary of the pros and cons of using a professionally managed account. Use these to help you come to a final decision about whether it’s for you.


  • You can put money into the forex market immediately with no prior knowledge
  • The manager makes all the trading decisions for you
  • The best platforms let you set guidelines so that you aren’t exposed to too much risk


Where can I learn more?

Here at Invezz we have lots of content that covers the forex markets. You can learn how to trade currencies, follow the latest news, or head to our education section in order to find out more about how the market works.

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James Knight
Lead content editor
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed, rode, and ate an ostrich all on… read more.