As a basic definition, managed forex accounts are accounts that are managed by a professional trader who makes forex trades on behalf of the account holder. Some of the more efficient services can return 5 - 10% per month or more. However, if you are thinking of opening a managed forex account, there are some things you should be informed about.

Forex trading can be very risky. Most forex accounts are highly leveraged. And while exceptional returns are possible, it is also possible to lose all your investment. Only shell out money you can spare to lose.

There are many forex scams out there. Be wary of services that promise exorbitant returns. These services are often scams equivalent to HYIPs. A reliable managed forex service will allow you to open a forex account in your name with a forex broker and allow you to maintain control over your account at all times. Be suspicious of services that ask you to send them money directly.

Quite often, there is a fee, which is usually a percentage of returns. The manager of managed forex services will typically take a percentage of the profits as his fee. This is normally around 20% or slightly more. Remember to take this cost into consideration when computing what your net profits are.

However, be mindful that nowadays, there are special services of managing your forex account thru the automation of forex signals. And they do not require their clients to pay for a fixed monthly charge or even a part of the earnings as commission. These forex managers are affiliates with the forex broker. And that is where they earn their commission based on the number of trades that they make for their clients.

But how do you select a managed forex service? Simply googling "managed forex" will get you lots of dubious results, many which are probably HYIP-type scams. The most suitable way to start researching a legitimate service is to check out objective third-party sites that review forex services. It would be fairly easy to look for them on the internet and analyze which ones are the credible review sites that can help you decide.

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