Managed Forex Trading Accounts
As mentioned, some providers of managed forex use automated forex where the orders are executed automatically through a trading robot, according to the exact rules of a forex system, therefore eliminating mistakes that come from human error.
However, many accounts use human traders to live trade their trading system. Human traders may not be necessarily worse than robots, as it depends on the system that they're trading, and how uniformly they execute the trades generated. The ultimate test is their performance. After all, this is what counts ultimately.
Forex Fund Managers
When you assess a forex fund manager, make sure you have a look at:
1. The retuls on a monthly basis, based on a float similar to what you’d use.
2. The drawdowns, or their smallest return month.
3. Their fee structure. Note that their graphs of returns usually takes into account the fees, but you should check whether this is the case.
4. Whether they provide help with choosing appropriate risk and money management models that are suitable for their systems.
5. Sometimes, there is a more than one system to choose from.
6. At what point the historical returns were based on backtesting or were based on actual real time trading results.
Also, getting more information to make sure that the returns they show are a) real and legitimate, and b) is based on a realistic float is an important part of your due diligence.
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