FXCM Managed Account

[legalbeagle]

Got an email this morning about FXCM's new managed account service, which you can apparently set up with as little as £500. Sounds good if you don't have time to day trade, but what are people's views on the concept, and on FXCM generally for the newbie forex trader? I tried their demo account some weeks ago and felt comfortable with it but have yet to take the plunge for real.

Many thanks

legalbeagle

 

[marlintrdg]

Got an email this morning about FXCM's new managed account service, which you can apparently set up with as little as £500. Sounds good if you don't have time to day trade, but what are people's views on the concept, and on FXCM generally for the newbie forex trader? I tried their demo account some weeks ago and felt comfortable with it but have yet to take the plunge for real.

Many thanks

legalbeagle

PLEASE be very, very careful, the most money I have ever lost AND at the fastest rate was dealing with so called professionals and managed accounts.

Just switch on a financial news channel or read one of the many financial newspapers and see whats going on now before you involve yourself with such things.

If its longer term "investments", then that's different, but trading I recommend you learn it yourself and trust no-one..

If you do nothing else, spend the weekend reading some of the horror stories on this site and don't repeat them..

 

[Mr.J-Arthur]

Lol. Well said.

"professional" can be somewhat subjective, even with certifications and such.
Read the fine print. What if they lose the money, is it insured?