Binary Options Managed Services
Essentially binary options managed accounts are an investor's account which is managed by a professional trader. In today's increasingly busy world they are good for two main reasons. The first is that it allows you to get on with your day to day business whilst the professional trader works on your behalf and second that they usually offer a higher return than you might achieve yourself.
This type of account is not offered by all binary options brokers and is in fact more commonplace amongst Forex trading, having said that as the industry evolves the other brokers don't take long to catch up to what others are offering. There are brokers that offer managed account services but you need to make sure that the broker offers everything you want which will reduce your choices somewhat.
With some managed binary options accounts service levels the broker will offer a free trial trading with the company's money so that you don't have to risk yours whilst deciding. Once you have seen the results you can then choose whether to enter into a full agreement.
In this guide we look at managed accounts and reveal everything you need to know:
- Why a managed binary options account could be beneficial to your trading
- The success rates usually achieved with a managed account at a top brokerage
- How easy it is to find a managed account and decide which one is for you
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Benefits of Managed Accounts
It is said that the best binary options managed accounts can have up to 75% win rates. With this in mind it is something that is worth considering if you are serious about binary options trading. In addition to the potential profits, what are the other benefits that you can expect?
Having to take time out of your day to research the markets and look at all the possible scenarios and outcomes can be very time consuming and often enough to put some people off. With a professional trader placing trades on your behalf using trading software, the profits may be greater and warrant the cost of having this service provided. If this is the case you need to ensure that you read the terms and conditions before agreeing to a managed account as they normally have a contractual period that you must adhere to.
Managed Account Free Trials
Whilst not all brokers offer a managed service it is a service that is becoming more popular. As individuals become busier with less time available to trade effectively then these services will become more popular and more commonplace.
With a managed account, as you are going to be entering into an agreement for a minimum term, you need to ensure that you are comfortable with the broker you are choosing. A minimum term means that you cannot withdraw any funds for a certain period of time. If this is the case you need to be confident that you can afford for your money to be tied in for a contracted term.
To find a binary option managed account service that you feel comfortable with you need to look for one that offers a free trial and that comes recommended. A free trial gives the trader the opportunity to try the services before committing any of their own funds. Essentially it is the brokers' money being used not yours. Not unlike a demo account this will allow you to get a feel for the broker and the service they offer before committing to anything.
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How to Ensure Trading Success
Whilst there are no certainties in the world of binary options trading, the odds tend to be higher when using a professional trader to manage your account. How will it benefit your options trading and can you ensure that it works for you? Choosing the right managed service is the obvious place to start but what makes it the right service for you?
Leverage Broker Experience
The knowledge and experience of a professional means that they can often achieve much more than you can as an individual. Unlike you, they don’t just act for one person. They have multiple clients, have many strategies, formulas and lots of trading experience
Trade All Assets Available
If you have a preferred assets that you like to trade in but feel that a professional would do better, you need to ensure that they offer these assets and that they have a proven track record of trading in them. Just because you are using a managed service doesn’t meant that you should compromise what you want to trade in.
Try Multiple Software's
Managed services will have lots of sophisticated software to assist them and lots of information, statistics and analysis at their fingertips. What software do they use and do they use tools like signal services?
Set And Agree Your Budget
Initially you will want to agree how much you want to invest. Now it might be that the returns are so good that you decide to increase this once you see some positive results. In the interim agree a budget that you can afford to lose if it doesn’t work out as you hoped.
When you consider the amount of research you would have to do and how long it would take you to do exactly the same as a computer can do in seconds then professional traders have a lot more at their fingertips than you do.
Getting The Right Account
You must exercise caution when choosing a service provider as this is where it could all fall down. Like any broker it is important to do your research first. You need to look for one that has a good reputation and that offers a free trial for the managed account service. Not all of them are to be trusted unfortunately and there are those brokers that case a shadow over the industry.
Finding a trustworthy and reliable broker can be a time consuming business which is where we come in. Using our extensive experience and knowledge of the binary options market we only put our name to those that we are entirely happy and confident with.
We spend a lot of time researching both the binary options market and each individual broker operating within the market on your behalf. Our work and extensive research saves you time and makes the decision a lot easier and more informed. As our experts have a lot of trading knowledge they know exactly what they are looking for.
By choosing a broker that is recommended by us you can rest assured that all the hard work has been done for you. Not only are we looking at the best managed accounts offered but we also research every other aspect of trading with a particular broker including ease of use, bonuses offered and the returns expected. We will ensure that our recommended brokers are licensed to trade, are operating under the correct regulations and have a good, solid reputation. When you choose a broker recommended by us you can relax in the knowledge that you are in safe hands.
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Frequently Asked Questions
What are the fees for a managed account?
The amount of fees charged for a managed binary options account will of course vary from broker to broker. As a general rule of thumb the fees for managed accounts tend to be between 20-30%. Some brokers will deduct the fees from your account on a monthly basis and others will only take their fees at the time of withdrawal.
Can I be sure my money is safe and secure?
Binary options trading carries a risk. The only risk you should be concerned about though is the risk of losing the money that you invest through bad trades. If you choose the right broker, with the correct licensing and regulations then your money will be safe. If you don't choose a broker with a good reputation that comes recommended by sources like ourselves then you are putting your money at risk.
How long will it take before I see a return?
This is not an easy question to answer as it will depend on the success of your trades. It may well be that you see a return much quicker with a managed service and a professional trader acting on your behalf than you would if you were trading yourself. It will also depend on how often you trade, what commodities you trade in, whether you are trading hourly or longer term and how much you trade.
Do managed account brokers offer free trials?
Yes! There are brokers that offer free trials for their managed account service. These trades are made with the provider's money and give you a good opportunity to see how the service will work for you. The even better news is that if you have a successful free trial and sign up to that broker for their managed account service they actually let you keep the winnings from your free trial.
How do I find a great professional trader?
That is simple. We have done the hard work so you don't have to. We have vetted, investigated, researched and traded with all of the brokers in the marketplace to ensure that we only bring you the best. We make our recommendations based on their licensing and regulation but also the ease of use of the site, the bonuses offered, the fees of their managed accounts service and the reputation of their professional traders.