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Can I get someone to trade forex for me, on my behalf? I hear you ask.
Yes you can.
In fact, paying someone to trade the forex market for you has gained popularity as more individuals discover this investment opportunity. They are a relatively unknown investment, that historically was primarily accessible to large financial institutions and wealthy investors. With the advent of the internet and high speed broadband connections, they have become accessible to everyone.
You are probably wondering how it is done, well, I will tell you.
Fortunately, it’s quite simple. You don’t need to search for a trader or negotiate terms; everything is handled for you. You pay the trader a fee, which is typically deducted from the profits they generate on your behalf.
This type of trading is called managed forex accounts trading, and you can read all about them on this site, starting here acorn2oak-fx.com/managedforexaccounts.html.
In summary though, this is what happens –
Open a Forex Trading Account: You start by setting up a trading account in your name.
Grant Limited Power of Attorney (LPOA): You provide the trader with an LPOA, allowing them to execute trades on your behalf.
Fund Your Account: Next, you deposit funds into your account.
Trading Execution: The trader conducts trades for you based on their expertise.
Performance Fees: The trader typically charges a performance fee, which can range from 15% to 50% of the profits generated.
Withdraw Funds: You have the flexibility to withdraw your funds whenever you wish.
Benefits of getting a forex trader to trade for you
This offers several advantages, particularly for those who lack the time or expertise to trade independently:
Expert Management: Skilled traders utilise their knowledge to navigate the complexities of the forex market, potentially increasing your returns.
Reduced Emotional Stress: By outsourcing trading decisions, you avoid the emotional rollercoaster that often accompanies trading.
Accessibility: These accounts open the forex market to individuals who may not have the time or technical know-how to trade effectively.
Flexibility and Control: Investors maintain control over their accounts, with the ability to monitor performance and make withdrawals as needed.
If you want to compare performance results and fees of providers that trade forex for you, follow the link below and fill out the form on the next page. You will receive up to 4 bespoke FREE quotes from top-ranking fund managers that best matches your requirements
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