The best managed Forex accounts are Pepperstone, AvaTrade, FP Markets, and FxPro.
To choose the best managed Forex accounts, the managed account type, the trading platforms available, the service quality for fund managers and investors, spreads on forex and other markets, and the flexibility of the allocation parameters are the most important criteria.
Pepperstone is the best managed Forex account provider overall, with MAM and PAMM account types supporting over 100 sub-accounts, low latency execution, and full compatibility with MT4, MT5, and trading robots.
AvaTrade, FP Markets, and FxPro follow Pepperstone as the best managed Forex accounts, for platform support, allocation flexibility, and fund management tools. AvaTrade allows unlimited account management through MT4, with multiple allocation methods (equity, lots, percentage, and balance), and a demo account option. FP Markets supports MAM and PAMM accounts on MT4, enables automated trading with EAs, and offers allocation by lot, percentage, and balance with an unlimited number of sub-accounts. FxPro offers a flexible managed account service with customizable commissions, mark-ups, and fees, plus multiple allocation models including lot, percentage, risk-based, and proportional.
Round-up
| Brokers | Managed account types | Platforms |
|---|---|---|
| Pepperstone | MAM, PAMM | MT4, MT5 |
| AvaTrade | MAM | MT4 |
| FP Markets | MAM, PAMM | MT4 |
| FxPro | MAM | MT4 |
| HF Markets | PAMM | MT4 |
| FBS | PAMM | MT4 |
| Tickmill | MAM | MT4 |
| RoboForex | MAM | MT4 |
| Dukascopy | MAM, PAMM, LAMM | MT4 |
| GrandCapital | RAMM | MT4, MT5 |
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
What are the best brokers with managed forex accounts?
Below is our curated list and review of the best forex brokers offering managed forex accounts, accompanied by comprehensive information on their characteristics, requirements and unique features.
Pepperstone
Pepperstone allows fund managers to manage over 100 sub-accounts. Pepperstone supports MAM and PAMM accounts with low latency technology and permits trading robots usage.
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About Pepperstone
Pepperstone is a global forex and CFD broker founded in 2010 in Melbourne, Australia. Pepperstone offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader and cTrader platforms. Pepperstone is regulated by multiple authorities including ASIC, FCA, and CySEC. Pepperstone is known for competitive spreads, fast execution, and extensive educational resources. Pepperstone serves clients in over 160 countries worldwide. The Pepperstone CEO is Tamas Szabo.
Pepperstone Features
The features of Pepperstone are listed below.
- With Pepperstone, the fund manager can manage over 100 sub-accounts.
- Pepperstone allows you to open both MAM and PAMM accounts.
- Pepperstone’s technology allows for low latency on managed accounts.
- Fund managers can manage Pepperstone accounts via MT4 or MT5, and use trading robots at will.
- The minimum order size for managed accounts is 1 micro lot.
Pepperstone Pros and Cons
Advantages of Pepperstone
The advantages of Pepperstone are listed below.
- Stable raw spreads (0,10 pips on EUR/USD on average)
- Caters for algorithmic trading
- Has won over 30 Forex industry awards
Disadvantages of Pepperstone
The disadvantages of Pepperstone are listed below.
- The demo account is not unlimited
AvaTrade
AvaTrade permits fund managers to oversee unlimited accounts. AvaTrade offers MAM accounts with MT4 and allows allocation by equity, lots, percentage, and balance.
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About AvaTrade
AvaTrade is a global forex and CFD broker founded in 2006 and headquartered in Dublin, Ireland. AvaTrade offers trading on currencies, commodities, indices, stocks, bonds, ETFs, and cryptocurrencies. AvaTrade provides proprietary platforms alongside MetaTrader 4 and 5. AvaTrade is regulated by multiple authorities including CySEC, ASIC, and FSA. AvaTrade serves over 300,000 clients worldwide. AvaTrade is known for competitive spreads and extensive educational resources. The AvaTrade CEO is David Dryzin since 2016.
AvaTrade Features
The features of AvaTrade are listed below.
- With AvaTrade the fund manager can manage an unlimited number of accounts.
- As a platform, AvaTrade allows the use of MT4 on its MAM accounts.
- AvaTrade allows you to manage allocation by equity, lots, percentage and balance.
- The minimum trade order in forex for sub-accounts is 1 micro lot.
- AvaTrade makes a MAM demo account available.
AvaTrade Pros and Cons
Advantages of AvaTrade
The advantages of AvaTrade are listed below.
- Tight fixed spreads from 0.6 pips (0.9 pips for retail traders)
- The mobile apps are well designed
- Can be connected to ZuluTrade and Duplitrade
Disadvantages of AvaTrade
The disadvantages of AvaTrade are listed below.
- High inactivity fees
- The demo account is limited to 30 days
FP Markets
FP Markets supports EAs in ECN MAM and PAMM accounts. FP Markets provides allocation by lot, percentage, and balance with unlimited sub-account management.
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About FP Markets
FP Markets is an Australian-based global forex and CFD broker founded in 2005. FP Markets offers trading on over 10,000 instruments including forex, stocks, indices, commodities, and cryptocurrencies. FP Markets provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FP Markets is regulated by multiple authorities including ASIC, CySEC, and FSA. FP Markets is known for tight spreads, fast execution, and extensive educational resources. The FP Markets CEO is Craig Allison.
FP Markets Features
The features of FP Markets are listed below.
- FP Markets offers a great service for EAs in its ECN MAM and PAMM managed accounts.
- Every FP Markets MAM/PAMM account is available with MT4.
- Traders can choose between three allocation methods on FP Markets: by lot, percentage, and by balance.
- An unlimited number of sub-accounts can be managed with FP Markets.
FP Markets Pros and Cons
Advantages of FP Markets
The advantages of FP Markets are listed below.
- Broad Instrument Offering
- Competitive Spreads
- Multiple Trading Platforms
Disadvantages of FP Markets
The disadvantages of FP Markets are listed below.
- High Fees for International Withdrawals
- Outdated Platform Design
FxPro
FxPro offers flexible managed accounts. FxPro customizes trading commissions and allows various allocation methods such as per lot and percentage.
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About FxPro
FxPro is a global online broker founded in 2006, offering trading on forex, CFDs, stocks, indices, commodities, and cryptocurrencies. FxPro provides multiple trading platforms including MetaTrader 4, MetaTrader 5, cTrader, and its proprietary FxPro Platform. FxPro is regulated by multiple authorities including FCA, CySEC, SCB, FSC and KNN. FxPro serves clients in over 170 countries and has won numerous industry awards. The FxPro CEO is Charalambos Psimolophitis.
FxPro Features
The features of FxPro are listed below.
- The managed accounts offered by FxPro are among the most flexible.
- FxPro allows you to customize trading commissions, mark-ups and performance fees.
- FxPro’s MAM accounts provide traders with the ability to decide the allocation methods available: per lot, percentage, risk-based, and proportional.
- FxPro allows traders to earn rebates on MAM accounts.
FxPro Pros and Cons
Advantages of FxPro
The advantages of FxPro are listed below.
- Regulated and Trusted Forex broker
- Diverse Trading Platforms
- Wide Range of Instruments
Disadvantages of FxPro
The disadvantages of FxPro are listed below.
- Inactivity Fee
- Limited Educational Resources
- No Guaranteed Stop-Loss Orders
HF Markets
HF Markets provides a PAMM account with public fund manager statistics. HF Markets handles allocations dynamically based on account equity.
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About HF Markets
HF Markets, formerly known as HotForex, is a global multi-asset broker founded in 2010. HF Markets offers trading on forex, stocks, commodities, indices, and cryptocurrencies through MetaTrader platforms. HF Markets is regulated by multiple authorities including CySEC, FCA, DFSA, and FSCA. HF Markets serves clients worldwide and is known for competitive trading conditions and extensive educational resources. HF Markets recently rebranded to emphasize its expanded product range. The HF Markets Group CEO is George Koumantaris.
HF Markets Features
The features of HF Markets are listed below.
- HF Markets offers a PAMM account with which you can manage multiple sub accounts.
- On the HF Markets website you can publicly view the statistics of each fund manager.
- The minimum deposit to open a PAMM account with HF Markets is $250.
- The minimum trade size for PAMM accounts at HF Markets is 0.01 lots.
- HF Markets dynamically handles the allocation type chosen based on the equity of the managed accounts.
HF Markets Pros and Cons
Advantages of HF Markets
The advantages of HF Markets are listed below.
- High Leverage Options
- Low Minimum Deposit
- Wide Range of Trading Instruments
Disadvantages of HF Markets
The disadvantages of HF Markets are listed below.
- Higher Trading Costs
- Limited Educational Resources
FBS
FBS provides PAMM accounts under IFSC regulation. FBS enables real-time market news and multiple allocation methods with a low minimum deposit.
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About FBS
FBS is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FBS provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FBS is regulated by multiple authorities including CySEC, ASIC, and IFSC. FBS serves over 27 million clients in 150+ countries. FBS is known for low minimum deposits, extensive educational resources, and copy trading services.
FBS Features
The features of FBS are listed below.
- PAMM accounts can be opened with FBS, but only under IFSC regulation.
- In managed accounts it is possible to receive real time market news from FBS.
- You can open an FBS PAMM account from only $1.
- FBS offers multiple allocation methods, and orders can be opened as low as 0.01 lots.
FBS Pros and Cons
Advantages of FBS
The advantages of FBS are listed below.
- Low minimum deposit
- User-Friendly Platforms
- 90 international awards
Disadvantages of FBS
The disadvantages of FBS are listed below.
- Limited Financial Instruments
Tickmill
Tickmill offers a managed MAM account. Tickmill supports MetaTrader 4 usage and allows balance and equity-based allocation methods.
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About Tickmill
Tickmill is a global multi-asset broker founded in 2014, offering trading on forex, CFDs, stocks, indices, commodities, and cryptocurrencies. Tickmill provides MetaTrader 4, MetaTrader 5, and proprietary platforms. Tickmill is regulated by multiple authorities including FCA, CySEC, and FSCA. Tickmill is known for low spreads, fast execution, and extensive educational resources. Tickmill serves over 500,000 clients worldwide. The Tickmill CEO is Sudhanshu Agarwal.
Tickmill Features
The features of Tickmill are listed below.
- Tickmill offers a managed MAM account.
- Tickmill’s MAM account usage interface works on MetaTrader 4.
- The fund manager can manage an unlimited number of sub-accounts on Tickmill.
- Two allocation methods can be chosen in Tickmill’s MAM account: by balance and by equity.
- Fund managers can choose to trade with EAs as well.
- To open a Tickmill MAM account you must deposit at least $5000.
Tickmill Pros and Cons
Advantages of Tickmill
The advantages of Tickmill are listed below.
- Regulatory Trust
- Competitive Pricing
- Comprehensive Platform Support
Disadvantages of Tickmill
The disadvantages of Tickmill are listed below.
- Limited Asset Variety
- Higher Costs on Classic Account
- Discontinued Features
Roboforex
Roboforex offers MAM services on MT4 with dynamic allocation adjustment. Roboforex integrates a copy trading system into managed accounts.
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About Roboforex
RoboForex is a global forex and CFD broker founded in 2009, offering trading on currencies, stocks, indices, commodities, and cryptocurrencies. RoboForex provides MetaTrader 4, MetaTrader 5, and proprietary platforms. RoboForex is regulated by the Financial Services Commission (FSC) of Belize. RoboForex is known for competitive spreads, extensive educational resources, and multiple account types. RoboForex serves over 4.5 million clients worldwide. The RoboForex CEO is Andrei Dziarnovich.
Roboforex Features
The features of Roboforex are listed below.
- Roboforex offers advanced and flexible MAM services on MT4, where money managers and investors can set their own risk parameters.
- The MAM accounts offered by Roboforex allow for dynamic and automatic adjustment of the allocation systems.
- Roboforex offers a copy trading system integrated into managed accounts.
Roboforex Pros and Cons
Advantages of Roboforex
The advantages of Roboforex are listed below.
- Diverse Trading Platforms
- Wide Range of Instruments
- Low Minimum Deposit
Disadvantages of Roboforex
The disadvantages of Roboforex are listed below.
- Limited Educational Resources
- Higher Spreads on Some Accounts
- Regulatory Concerns
Dukascopy
Dukascopy provides MAM, PAMM, and LAMM accounts. Dukascopy allows accessing managed accounts starting at a $1000 deposit and managing unlimited sub-accounts.
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About Dukascopy
Dukascopy is a Swiss online bank founded in 2004, offering forex, CFD, and options trading through its proprietary platform, aling with standard banking services such as e-banking and credit cards. Dukascopy is regulated by FINMA, Dukascopy emphasizes advanced technology and competitive trading conditions. Dukascopy CEOs are Dr. Andre Duka and Veronika Duka, who are the founding shareholders.
Dukascopy Features
The features of Dukascopy are listed below.
- Dukascopy offers two PAMM accounts.
- With the LP LAMM account, it is Dukascopy who acts personally to make the money work for you.
- With the Standard PAMM account there is a fund manager acting through Dukascopy.
- Dukascopy offers MAM, PAMM, LAMM managed accounts.
- The minimum deposit to access a Dukascopy managed account is $1000.
- You can manage an unlimited number of sub-accounts.
- With Dukascopy, you can open forex positions starting from 1 micro lot.
Dukascopy Pros and Cons
Advantages of Dukascopy
The advantages of Dukascopy are listed below.
- Regulated Security
- Competitive Trading Conditions
- Diverse Asset Range
Disadvantages of Dukascopy
The disadvantages of Dukascopy are listed below.
- Limited Educational Resources
- Withdrawal Fees
- Inactivity Fees
Grand Capital
Grand Capital offers RAMM managed accounts. Grand Capital supports MT4, MT5, and proprietary platforms with a minimal RAMM account deposit requirement.
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About Grand Capital
Grand Capital is an international forex and CFD broker established in 2006, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. Grand Capital provides MetaTrader 4, MetaTrader 5, and proprietary platforms. Grand Capital claims regulation by Finacom, but lacks recognized regulatory oversight. Grand Capital is known for low minimum deposits, diverse account types, and an affiliate program. Grand Capital offers copy trading and investment portfolios.
Grand Capital Features
The features of Grand Capital are listed below.
- GrandCapital offers a RAMM managed account to its traders.
- MT4, MT5 and a proprietary platform are all available at GrandCapital
- The minimum deposit for a GrandCapital RAMM account is $50
- The spread of GrandCapital starts at 0.4 pips with a $5 commission per lot traded.
Grand Capital Pros and Cons
Advantages of Grand Capital
The advantages of Grand Capital are listed below.
- Low Spreads
- Fast Execution
- Fund Protection
Disadvantages of Grand Capital
The disadvantages of Grand Capital are listed below.
- Offshore Regulation
- High Fees
- Slow Support Service
What Is a Forex Managed Account?
First and foremost, a simple explanation of what a forex managed account actually is. As briefly explained, a forex managed account type is one which is managed by another trader, a professional trader, also known as a fund manager.
This person is managing the account and trades in that account on behalf of other clients. Essentially, forex account managers are responsible for seeking out trading opportunities, adjusting trading risks, and implementing profitable forex trading strategies.
A fund manager will typically have a large number of accounts to manage at any one time. They usually do not manage these accounts separately but rather within the system, where they can see all of the accounts under management through their dashboard facilitated by the broker.
This will typically allow them to set allocation methods or criteria for each of the sub-accounts they are controlling. This allocation can determine how the risks and earnings, as well as other strategy points, are managed within each of the sub-accounts.
With that said, the ability to do this, and how it is done, depends on a number of factors related to the overall broker that the fund manager has chosen. There are also often multiple types of managed accounts available from each broker.
Different Types of Forex Managed Accounts
The first type of managed account we will look at is a LAMM (Lot Allocation Management Module) Account type. A LAMM account trader managing the accounts can apply different leverage on sub-accounts depending on their needs and that of their clients. This account type then provides a good degree of flexibility to investors in terms of managing risk through these types of accounts.
A PAMM Account (Percent Allocation Management Module) is very common when it comes to talking about a managed forex account. Here, earnings and losses are typically equally distributed among the different sub-accounts regardless of the amount of money invested in the account with the trader. The same percentage profit or loss is applied to all accounts. These types of accounts are typically very transparent in that you can view every action taken by the account manager in most cases.
Moving to RAMM Account (Risk Asset Management Model) and here you will find all of the same great features as you would have through a PAMM account but with improved features for helping manage risk on both ends as an investor and money manager. Using a RAMM account, you can also trade independently of the money manager and decide the portion of your balance to allocate to be managed.
Finally, a MAM Account (Multi-Account Manager) account is a mix between a LAMM and a PAMM account. This account type comes with the same flexibility you would find in a LAMM account but administered in the same way as a PAMM account.
Who Are Forex Managed Accounts For?
Based on what we’ve already covered, you should have a general opinion on whether a forex managed account is the right fit for you. However, if you still aren’t sure, ask yourself the following questions:
Do you have time to watch the forex market? Forex markets are open for trading 24 hours a day during the week. Given how fast they can change, it would require you to monitor each market constantly. That’s not a luxury many can afford. If you don’t have time due to other responsibilities, letting an expert forex trader do the work for you might be the right choice.
How comfortable are you when trading? Although forex trading is an exciting endeavor, it’s not for everyone. If you don’t feel comfortable when trading or aren’t sure what types of trading decisions to make, it might be a better option to let an expert handle these for you.
Do you want to learn how to trade? Although a managed forex account will take responsibility for trading off your shoulders, it doesn’t mean you won’t be able to learn a thing or two. By going through your manager’s trade history, you will be able to analyze patterns and decisions they make, which you can use to learn more about forex trading.
If any of the above three scenarios apply to you, setting up a managed forex account offers an excellent opportunity to take advantage of forex markets. On the other hand, if you want full control over your trading decisions or lack enough risk capital, it might be a better idea to trade forex yourself or try copy trading instead.
Forex Managed Trading Accounts: What to Consider?
Although we have provided you with a list of our top choices for the best managed forex accounts, choosing the perfect broker with such an account requires some work on your side, too. Essentially, there are several things you should consider when deciding which managed forex account to choose, either as an investor or account manager. These include:
The broker itself. Every broker has its own offer, but the first thing you should look for is a safe and well-regulated broker. This is the same as when you are just choosing any forex broker for trading, you always want to ensure they are well-regulated.
Minimum investment needed. Usually, the minimum deposit needed for a Forex Managed Funds Account (for investors) matches the standard broker minimum deposit. Trading on the forex market is risky, never invest sums that you cannot afford to risk, and ensure that this minimum deposit is within your comfortable trading limit.
Choose your fund manager wisely. Every fund manager has their own strategy, trading style, risk profile, and more. You should do your research to make sure to choose a fund manager that fits with your own needs.
Fees. Even the best managed accounts come with associated fees, such as management fees, performance fees (typically a percentage of monthly profits), or annual fees. Consider them all before choosing the most cost-efficient managed account.
Diversify your investments. Fund managers are professional traders and will, of course, diversify their investments. But some brokers allow you to invest with more than one fund manager. In this way, you have the opportunity to wisely diversify your investments even further.
Allocation methods. The more allocation methods a broker offers through its forex managed accounts, the better the fund manager will be able to manage your money. This kind of flexibility with multiple options can only work in your favor as an investor.
Copy Trading vs. Managed Accounts
You may wonder what the difference is between copy trading and trading through a managed account. Well, there are some key differences. Some of these key differences are that, through a managed account, your money is managed and invested by a professional who will keep a percentage of profits in return.
With copy trading, you are simply managing all of your own funds in copying the trades of another trader who also has their own funds and account, which they are actively risking.
Managed Forex Accounts – Pros and Cons
As great as managed forex accounts can be, they aren’t the perfect trading solution. As with any kind of trading, managed forex account trading has its own individual pros and cons for you to consider. Here are a few from each side to help you make the best selection for yourself:
Pros
- A managed forex account allows passive investing from your end, with everything done by the fund manager in most cases.
- This also means you don’t have to have any trading knowledge since the professionals will trade for you.
- You can have the flexibility to withdraw your funds at any moment.
- Choosing one or more account managers and managed account investments can be a great way to diversify your investments.
Cons
- You won’t have control over the investment decisions that are made by the fund manager.
- Fees charged by the broker and the fund manager can vary.
Key Takeaways: What Is the Best Managed Forex Account?
With all their benefits, managed forex accounts offer an excellent opportunity for forex traders. Of course, they aren’t for everyone, but if you don’t have the time or the experience to trade forex comfortably, letting an expert take care of your funds does sound like a profitable option.
And what are the best managed forex accounts? Our top choice is Pepperstone, followed by AvaTrade, and FP Markets. However, the remaining brokers don’t fall far behind. The truth is that any of the above forex managed accounts will serve you well, providing you with exciting forex trading opportunities.