Forex account managers are perhaps one of the most popular and advertised service in the field of finance in the world foreign exchange business. They offer automated profits, promise riches, returns etc that makes their competitors weak. In order to make the client satisfy forex account managers use some knowledge and professional experience to get great profits and returns for customers. And with this agreement then a part of the profit is given to the account manager by the client. A hedge fund or a modern mutual fund is not far from the arrangement. In order to trade different types of financial markets dollars are invested by the hedge funds. A part of the returns is received by the hedge fund manager such as about 25 percent from the total performance whereas the investor will get more percent above the average return rate. Most of the forex account managers may have different views about the hedge funds to run multi-billion dollars as they may or may not be connected, well to do and unbelievably intelligent. A forex account manager in most of the cases are over confident and wants to trade without putting their own money instead they want to trade with other’s money.
Services of the Forex Accounts Manager
There are also firms which are professional in killing the foreign exchange with the money invested by the clients. And they deserve trading success with recognizing their edge.
Educating yourself in the forex trading is very important and therefore you should not rely and depend on other people even though the person knows about forex trading than you. Education is the only important thing in forex trading if you want to make money. And while choosing and keeping your money with the forex account manager you need to be very careful in choosing the right and legitimate account manager. And in order to know the legitimacy of the forex account manger following points should be considered.
Forex Account Legitimacy and Their Indications
1. High Minimum Deposits – making high deposits is not necessary in your forex account. if your forex account manager is reliable and worthy in managing your account then no large investment is required such as $500 or $1000 and also $5000. But hedge funds in reality invested a minimum of about $250000 and even more than this. And therefore managing with the investment of $1000 is worth nothing with their time. So it is better to spend your time with the investors who want to invest $500 and $1 million if you are a forex account manager.
2. Office – operating an office is not necessary for those successful forex account companies. They are not going to move out from their home and open the office so that people may find their location using Google earth etc.
3. Regulatory filings – there are some requirements while operating investment firms which is very much necessary to differentiate the legitimate investors from other. In managing money forex accounts manager needs to follow the rules.
4. Audited results – in order to identify the profits, results and to maintain the records auditing companies are there for this purpose. Auditing firms collect the records and verify them so as to check the statement of price is correct or not by visiting the forex account manager. Some of the auditors are involve in the business while some others are not. Auditing firms sometimes face hard times even for the returns. The reputation of an auditing firm depends on the way they make their money. Therefore to get a new client the auditing firm will not ruin themselves and their reputation.