WHAT IS A MANAGED FOREX ACCOUNT?
Managed Forex Accounts can be a great tool for new or inexperienced investors who wish to get involved in online Forex but are still learning to trade. Managed forex accounts can also be used by investors who wish to participate in the FX market but do not have the time to monitor the market or who simply prefer to have their funds managed by an experienced trading professional. For traditional investors, managed forex accounts can provide portfolio diversification.

The Forex market is a highly speculative market, with huge potential for profit but also possibility of great losses. Unlike the traditional investment markets such as the real estate and equities markets that move in cycles, the Forex market gives traders an opportunity to make profit in both the rising and declining markets, regardless of the market conditions. Traders with managed accounts can utilize both long and short positions because the potential for profit in both positions is the same.

The minimum investment required for Forex trading is much lower than that required in the traditional real estate and equity markets. There is also no lock-up period or time-limit to how long the funds must be kept in the forex account and withdrawals of funds can be processed at the investor’s discretion. Another benefit to having a managed forex account is being able to oversee all the transactions and trading activity on the account, enabling the investor to learn and/or keep track of forex trading.

MANAGED FOREX ACCOUNTS WITH Maps IG;
Maps IG does not manage forex accounts on behalf of investors, but facilitates the process for forex professionals who wish to work with managed forex accounts as well as investors who wish to have a forex account managed by a forex professional.

Maps IG offers ideal conditions for forex account managers and investors ensuring ethical and excellent trading conditions and quality client support 24/5.Maps IG has access to price feeds from more than 14 banks, and provides very narrow and low spreads which guarantees a low rate of slippage. The spreads offered are also fixed 24 hours a day, supporting the view that fixed investments are safer over a long time therefore maximizing the potential for profitability and minimizing losses. In support of diverse forex trading strategies, Maps IG allows hedging, scalping, news trading, EA trading and manual trading as well as offering flexible leverage and customized forex accounts.

 HOW TO APPLY FOR A MANAGED FOREX ACCOUNT

Typically a Power of Attorney (POA) is given by the investor to the money manager. The Power of Attorney form is provided by Maps IG and needs to be filled in by the investor and then emailed or faxed to Maps IG  for the POA to take effect. The professional who will be managing the investor’s forex account has a limited power of attorney and will not have authorization to deposit or withdraw the funds.

To download the POA form, please click here

The investor will have access to the forex account and will be able to monitor the account, track account equity and balance, and also create an account statement online at any time. In addition to the Power of Attorney, a trading agreement can be established between the money manager and the investor outlining the terms and conditions of the working relationship and any fees or commission that the account manager will charge for his services. 

Maps IG carries out due diligence on all its clients and entrusts its traders and investors to act professionally and responsibly As Maps IG does not actually manage forex accounts on behalf of investor clients. Maps IG takes no part or responsibility for the performance of the forex professional, including any trading activity or profit and/or loss on the account.