Forex Managed Accounts: Are They For You?
Without a doubt the one key factor in sourcing a managed forex account is to make certain that you have control over your own account at all times. That is the ability to revoke the ability of the trader to actively trade your account and also to withdrawal funds at any time you wish. Any other situation leaves your account wide open to abuse, fraud and just general trader incompetence. Over the years we have witnessed many managed forex scams where funds have been fraudulently stolen or misappropriated leaving investors with little or nothing in their account. Make sure that before you send funds you are provided with an LPOA or “Limited Power of Attorney” form and that any funds you send are directed to the account of the broker, who is authorized to receive client deposits.
