Forex Brokers with Managed Account

Written by Naylyan Nazifova

Naylyan Nazifova

Naylyan Nazifova is a recognised expert in the online trading field. She has many publications and analysis covering forex trading, stock investing and personal finance. 

, | Updated: December 2, 2024

Managed accounts have emerged as an excellent option for many individuals interested in forex and other markets. These accounts give broker users the opportunity to participate in the forex market without executing trades themselves but, instead, by having an experienced professional manage their trading funds for them. Managed accounts are not something to jump into recklessly, however, which is why our team has set out to introduce you to managed accounts and give you an overview of their work. Below, you will also find a ranking of the top brokers that offer managed accounts to their clients.

1FP Markets

Rating: 4.7 ⭐

73.85% of retail investor accounts lose money

Top Rated

2AvaTrade

Rating: 4.4 ⭐

76% of retail investor accounts lose money

3HF Markets

Rating: 4.3 ⭐

4FxPro

Rating: 4.0 ⭐

74% of retail investor accounts lose money

5Swissquote

Rating: 3.8 ⭐

61% of retail investor accounts lose money

6Tickmill

Rating: 3.7 ⭐

70% of retail investor accounts lose money

7Interactive Brokers

Rating: 3.1 ⭐

8Iron FX

Rating: N/A ⭐

67.62% of retail investor accounts lose money

8 Best Brokers Offering Managed Accounts

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   1. FP Markets

   Regulated by both ASIC and CySEC, FP Markets is a broker that offers MAM and PAMM options when it comes to the technology professionals can utilize to manage client accounts. In terms of platforms, there is plenty to pick from at FP Markets: MT4 and 5, TradingView, and cTrader. Moreover, forex enthusiasts have over 60 pairs to pick from.

   You can also trust that FP Markets will always be ready to assist you. Its support team is prepared to answer inquiries around the clock, any day of the week, and in different languages to boot.

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.92% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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   2. AvaTrade

   AvaTrade opened its virtual doors in 2006, making it one of the older and more experienced brokers on our list. AvaTrade offers an excellent range of market instruments, including but not limited to forex pairs, bonds, and ETFs. Users who are looking to utilize the managed account feature can simply link their accounts to a manager so long as they provide AvaTrade with the necessary documents. The broker offers MAM (multi-account-manager) software to professional account managers.

   The broker caters to traders the world over, and if you become an AvaTrade user, there is a very high chance that you will be able to call the support staff via phone since this option is available in over 30 countries. Of course, email and live chat are also more than viable ways to contact AvaTrade’s customer support.

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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   3. Swissquote

   SwissQuote is a trusted broker that bears the seal of approval of the UK’s FCA and other Tier 1 regulators. The company is publicly traded and listed on the SIX Swiss Exchange, which is another testament to SwissQuote’s excellent reputation.

   While SwissQuote’s spreads are not the lowest, most major pairs tend to have spreads of under 2 pips. For those who would like to branch out from forex, stocks, ETFs, and bonds are also among the available markets. Managed trading is achieved via MAM and PAMM (percentage allocation management module) technology. In addition, copy trading is available through LAMM (lot allocation management module).

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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   4. Tickmill

   Tickmill gives its users the opportunity to trade over 60 currency pairs along with other trading instruments, and both MT4 and MT5 are available in terms of platforms. Retail clients can enjoy a leverage of up to 1:30 as is mandated by British and European regulations, while professionals have a substantially higher limit at 1:300.

   Tickmill’s multi-account manager (MAM) is integrated into MT4 and allows professionals to manage your funds if you are planning to give managed trading a try. Although Tickmill typically supports both MetaTrader suites, its MAM is MT4-only.

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with Tickmill Europe Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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   5. Iron FX

   IronFX is a broker that can cater to your preferences regardless of whether you prefer forex, commodities, shares, or other types of markets. The broker was established in 2010, and today, it boasts an impressive PMAM (personal multi-account manager) platform, which is what allows professional managers to oversee the accounts of their IronFX clients. We should also mention that IronFX offers VPS (virtual private server) hosting as well.

   Users who are new to forex and would like to learn more about trading, in general, can take advantage of IronFX’s excellent education-centered content. Courses are available in spades, and users can also tune in to the podcasts and webinars hosted by IronFX experts.

   Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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   6. Interactive Brokers

   Interactive Brokers, often referred to as IBKR, is one of the oldest and most reputable brokers selected by our team. Its company was established in 1978, and it is licensed by tier 1 regulators like the UK’s FCA and the SEC of the USA.

   The selection of trading instruments is more than sufficient, encompassing stocks, currency pairs, metals, and bonds, among others. Managed accounts are available, and for those new to the concept or to IBKR in general, the broker has a guide dedicated to walking account holders through the setup process.

   Investing in financial products involves taking risk. Your investments may increase or decrease in value, and losses may exceed the value of your original investment.
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   7. FxPro

   FxPro is a broker licensed to operate in various jurisdictions across the globe, and besides its various licenses, its language options can also give one an idea of how FxPro can cater to many traders the world over. After all, English, Korean, Mongolian, Finnish, Turkish, and Spanish are just a few of the available language settings. As for market instruments, traders can pick between forex, shares, crypto, energies, indices, futures, and metals.

   Those looking to hire an account manager will find that FxPro offers PAMM-powered trading. Last but not least, the broker does well in terms of providing educational content to its users, seeing as aspiring traders can browse through various articles and videos, as well as attend webinars.

   Trade Responsibly. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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   8. HF Markets

   HFM welcomes traders from across the globe, and it stands out with its impressive leverage offering, which allows traders to utilize leverage of up to 1:2000. Do note that it only applies to jurisdictions where such leverage is permitted, however. In contrast, many HFM clients who reside in the UK can only take advantage of 1:30 leverage at most. In terms of markets, HFM performs well, and it offers forex, commodities, and indices, to name a few. The HFM PAMM Program is what makes managed trading possible for HFM users, and managers can be chosen via HFM’s PAMM Performance Rankings page.

Comprehensive Comparison of the Top 8 Forex Brokers with Managed Account

Best Forex Brokers with Managed Account Ranked by Trustpilot Score

What Are Managed Accounts and How Do They Work?

Managed accounts serve as an excellent solution for novice traders and experienced traders alike. They involve the client and the professional manager who handles the accounts of their clients, making trades on their behalf.

When it comes to currencies, in particular, the forex market is known for its volatility and generally being challenging to tackle for beginners, and it comes with a high degree of risk. This is why going with a managed account might be more suitable for individuals who find forex intimidating, especially considering how the potential profits are substantial and considered to be worth it by many.

Of course, this type of service does come at a cost of certain trading fees. Managers who specialize in forex will charge commissions, the size of which depends on their own experience and success, and often, one will come across professionals whose fees exceed a 20% or 30% share of the profits. Although fees of over 50% may be rare, they are not unheard of.

As for how accounts are managed, this is done through the usage of special account and money management solutions offered by forex brokers. One such type of option is the percentage allocation management module (PAMM), which essentially gives forex enthusiasts the opportunity to allocate trading funds to a professional trader for the facilitation of pooled trading. The trader, in turn, is able to manage the accounts of multiple individuals.

Apart from PAMM, there is also the multi-account manager (MAM), the managing of accounts through robo-advisors, and more. The availability of such technology is solely dependent on one’s broker of choice.

Costs Associated with Using Managed Accounts

As we touched upon above, those looking to try out a managed account will need to be prepared for certain costs. These will vary depending on the manager, but fees can range from 10% of the profit to 20%, 30%, or even over 50%.

Asset management fees, where the trader gets a percentage of the account owner’s asset value as a fee, are also something to consider. Another type of fee one might come across is performance-based, where the client is charged depending on how well the manager is doing. Such costs can be charged by the quarter or on an annual basis.

Another aspect to be aware of is broker fees, that is, what costs are associated with the broker itself. These may come in the form of transaction fees.

We should also stress that the above percentages apply to managed accounts involving forex. Investors involved with stocks, for instance, do not need to pay as much. Instead, their fees seldom exceed 5%.

Common Types of Managed Accounts

A range of account types and systems can be utilized when it comes to managed accounts. The first one we will examine is the multi-account manager, usually referred to as MAM. Managers who have MAM accounts can handle the sub-accounts of more than one client , catering to the different preferences of each client, including the strategies they would like to use, the leverage they wish to utilize, and more. When the manager trades, this is replicated on the sub accounts of each client. Account owners (sometimes referred to as slave accounts) can customize how much money is allocated to their respective sub accounts, and they are also free to withdraw money from said accounts whenever they wish.

Continuing onwards, we shall take a look at percentage allocation management module accounts (PAMM). This technology is pretty similar to MAM, but there is one major notable difference. Namely, trading here is achieved through the combined trading pool of all clients’ funds. As is the case with MAM, sub account holders can withdraw their money at any time.

While MAM and PAMM trading models share some similarities, the money allocation basis in the two managed account models is different. We suggest that traders carefully assess their trading goals, risk-handling levels, and other trading preferences before they opt for trading via MAM or PAMM accounts.

Next, we should mention separately managed accounts or SMAs. Their roots date back to the 1970s, and they are essentially accounts where one’s assets are managed by a financial advisor or an investment firm.

Finally, it should be noted that the above account types can be costly, and they typically require a notable opening balance. The world of forex also involves robo-advisor platforms, which facilitate automated trading and are a far cheaper option.

Aspects to Factor In Before Opening Managed Accounts

Among the first things one should do is assess how a given manager has performed historically and essentially get a good understanding of their track record. At HFM, for example, clients can browse the broker’s PAMM Performance Rankings page, where information such as managers’ gain, maximum drawdown, and other details are displayed.

Then, an individual will need to take a look at the pricing and determine if it is suitable for their portfolio and the costs they are comfortable incurring in general. They must also be able to meet the capital requirements, and they can vary depending on the instrument and trading strategy. Additionally, the required opening balance is important.

Next, one should take the time to determine what their risk tolerance is and thus go with a managed account program and a manager who is suitable for their preferences. One’s investment goals are something they should also take into account.

Benefits to Setting Up a Managed Account

Finding success in the forex market can be exceptionally difficult, as the practice of trading currencies carries substantial risk, and this can serve as a recipe for disaster when combined with a trader’s inexperience or general limitations. Having a professional manage one’s funds for them is, thus, the first major perk of going with a managed account.

Another advantage of managed trading is the time one can save by allocating the work of trading certain instruments to their manager. This is what makes managed accounts suitable for individuals who are novices when it comes to forex trading, as well as for experienced traders.

Written by N. Nazifova