6 Best Forex Trading Account Managers in 2024

When it comes to navigating the world of Forex trading, having a skilled account manager can make all the difference. With markets becoming more volatile and complex, many investors are turning to professional Forex account managers to help maximize returns while managing risks. The right manager can provide valuable insights, execute strategic trades, and handle multiple accounts seamlessly, ensuring you can stay competitive in a fast-paced environment.

In this guide, we’ll go over a list of the 6 best Forex trading account managers in 2024 to help you identify the most reliable and high-performing options. Whether you’re a seasoned investor or new to the market, choosing the right account manager can be key to growing your portfolio.

List of the best Forex trading account managers in 2024:

Money management in Forex trading

Money management is a crucial element when evaluating Forex account managers. Top-performing managers not only focus on generating returns but also prioritize capital preservation and risk control. By implementing smart money management strategies, such as limiting risk per trade, using proper position sizing, and setting clear stop-loss levels, they ensure that your account can withstand market volatility and unexpected losses.

When choosing a Forex account manager, look for one who applies these principles effectively. A solid money management approach is what sets apart successful managers, allowing them to consistently grow your capital while minimizing risks in the long run.

Exploring the best Forex account managers in 2024

In the following sections of this article, we’ll review the best Forex account managers, as well as their unique features, to help you determine which broker is right for you.

1. AvaTrade – Best broker overall

AvaTrade offers a great range of copy trading platforms, such as AvaSocial, DupliTrade, and ZuluTrade, which allow traders to copy the trades of other, more successful traders. At the same time, this allows money managers to share their trades and send signals to their followers. They offer MAM account technology via MT4 and the AvaTrade Partner program.

AvaTrade’s MAM accounts support four allocation methods – balance, lot, percentage, and equity – allowing money managers to customize trade distribution according to their preferences. Additionally, money managers can set performance fees and manage an unlimited number of investor accounts, with a minimum investment requirement of $5,000. Whether you’re looking to automate your trades through copy trading or manage client funds with MAM technology, AvaTrade delivers robust solutions for all types of traders. Taking all of this into account, it’s no wonder AvaTrade is one of the best forex brokers available.

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2. FP Markets – MAM/PAMM accounts with low spreads

Founded in 2005, FP Markets is recognized for its robust regulatory framework, being regulated by well-known bodies like ASIC and CySEC. It’s a top choice for a Forex account manager due to its wide range of solutions for both professional money managers and traders looking for social trading opportunities. The platform seamlessly integrates with MetaTrader 4 and MetaTrader 5, providing access to MAM (Multi-Account Manager) and PAMM (Percentage Allocation Money Management) accounts, ensuring a smooth and secure experience for clients and money managers alike.

FP Markets offers transparency by detailing potential money managers’ historical earnings, risk levels, and key metrics. This allows traders to choose a manager who fits their objectives and risk tolerance. The Money Manager Program also offers unique features like lot allocation for MAM accounts, profit and loss allocation for PAMM accounts, and the ability to set performance fees. With deep liquidity and tight spreads via an ECN (Electronic Communications Network), money managers can optimize trades for their clients.

In addition, FP Markets provides social trading options through Copy Trading, available on MT4, MT5, and cTrader platforms. Traders can either become providers (money managers) or copy successful traders, with the ability to review detailed performance stats before making a choice. Whether you opt for the Money Manager Program or social trading, FP Markets offers robust features for a wide variety of traders. With enough time and experience, FP Markets provides you with all the tools you need to become a Forex god.

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3. eToro – Largest social trading platform

eToro operates the world’s largest social trading platform, with over 20 million users globally. Regulated by FINRA and SIPC, it offers U.S. traders an excellent opportunity to mirror the trades of successful cryptocurrency investors through its intuitive CopyTrader feature. This platform allows users to automatically replicate the trades of top-performing traders, while experienced traders can benefit from becoming Popular Investors, earning additional income by sharing their strategies. With no limit on the number of investors you can have following your trades, eToro provides a scalable and flexible solution for users seeking a more hands-off approach to trading.

In addition to cryptocurrency trading, eToro offers U.S. users access to Smart Portfolios, a premium product for passive investors. These portfolios are focused on specific themes like AI, drone technology, and cybersecurity stocks, giving investors diversified exposure to emerging sectors. eToro’s Smart Portfolios are automatically rebalanced, making them a convenient option for those who prefer a hands-off, long-term investment strategy. Combined with the eToro Money crypto wallet for secure digital asset storage, eToro provides a comprehensive, user-friendly platform for both beginner and experienced crypto traders.

Since eToro allows the trade of both cryptocurrency and stocks, you can trade the S&P 500 index on eToro. If you’re interested to see how this exchange stacks up to Coinbase, see our article going over the eToro vs Coinbase comparison.

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4. IC Markets – TradingView and ZuluTrade integrations

Operating since 2007, IC Markets offers a range of advanced trading platforms, including MetaTrader4, MetaTrader5, and cTrader, which makes it ideal for experienced traders. The broker also integrates well with TradingView and ZuluTrade, catering to those interested in social and copy trading.

For algorithmic traders, IC Markets offers Expert Advisors (EAs) on MetaTrader platforms and provides free VPS hosting to ensure low-latency execution. Its diverse range of accounts, competitive fees, and helpful tools like Autochartist and Trading Central make it a standout for day traders and swing traders alike. While the offshore entity lacks negative balance protection, IC Markets excels in delivering a feature-rich environment for traders of all levels.

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5. FxPro – Precision trading for professionals

Founded in 2006 and regulated by the FCA and CySEC, FxPro is another broker providing money managers with access to MAM and PAMM accounts, which provide portfolio managers with the technology to trade investor capital through just one master account while distributing trades across sub-accounts using a variety of allocation methods, including lot, percentage, equal risk, balance, and equity percent allocation. This flexibility in trade allocation is a standout feature, ensuring that money managers can tailor their strategies based on client needs.

In addition, FxPro offers the ability to set custom performance fees and spread markups, allowing managers to maximize returns and earn rebates from active trading. FxPro’s MAM accounts are compatible with both MT4 and MT5, supporting EAs for algorithmic trading, making it ideal for those who want to automate client capital management. Moreover, the broker’s non-dealing desk model ensures direct market access without dealer intervention, providing optimal pricing and execution, which is particularly beneficial for high-frequency and algorithmic traders.

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6. Tickmill – Solutions for flexible account management

Tickmill is regulated by the FCA, CySEC, FSA of Malaysia, and FSA of Seychelles, ensuring a high level of safety and compliance for traders and money managers. Offering both MAM accounts and copy trading through Myfxbook and Pelican Trading, Tickmill equips account managers with powerful tools to manage multiple sub-accounts efficiently. With integration into the MT4 platform, managers can set performance fees and trade on behalf of an unlimited number of investor accounts.

Tickmill’s MAM accounts offer two trade allocation methods: proportional by balance and proportional by equity, providing managers with flexible ways to distribute trades across sub-accounts. With trading sizes starting at 0.01 lots and access to market, stop, and limit orders, Tickmill caters to both small and large-scale portfolio management. Additionally, Tickmill has access to Signal Centre, allowing traders to select signals or generate trading ideas for more personalized management solutions.

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Risks of Forex account managers

Forex trading managed accounts carry a number of risks, as your capital is traded by a professional or algorithm on your behalf, but the outcomes are still uncertain.

For example, relinquishing control to a third party means you rely entirely on your chosen manager’s strategies, which may not always align with your risk tolerance.

Forex markets are also highly volatile, so even skilled managers could suffer losses during unpredictable market conditions.

Lastly, managers tend to charge performance fees which cut into profits and may even lead to you losing money if returns are inconsistent.

It should be noted that, in general, the odds are stacked against you in Forex trading due to their competitive nature. Our article about Forex trading profitability goes over more details on the matter.

When to use a Forex account manager

Using a Forex account manager can be highly beneficial for certain types of investors, particularly those who want to engage in the Forex market but lack the time, expertise, or desire to manage trades themselves. As such, Forex account managers are most useful for new traders, busy professionals, and investors seeking diversification.

The bottom line

Despite the risks, Forex account managers are a great way for beginners to embark on their trading journey, as their assets will be managed by experienced professionals. Additionally, trade copiers offered by most Forex can give traders a hands-on experience by following and copying the trades of more savvy traders.

If you’re looking to simulate a trading experience without actually risking your money, see our article going over the best Forex demo accounts. Once you’re comfortable with your trading skills, you can turn to our list of the best Forex brokers with no minimum deposits to avoid risking large amounts of money.