Best Managed Trading Accounts in 2024

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Written By
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Written By
Royston Wild
Royston is an experienced investor and writer. His expertise includes stock recommendations through to commodities, forex, and macroeconomic news. Royston's background includes roles as a stocks and commodities reporter, and editor of forex coverage at Shares Magazine.
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Edited By
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Edited By
James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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Managed trading accounts are investment vehicles that are typically overseen by experienced traders. These individuals will monitor the portfolio’s performance, and buy and sell assets on your behalf. Managed accounts are best if you want a hands-off approach to trading.

In this guide, we share our pick of the best managed trading accounts and explain the key things to consider when deciding which broker to use.

Best Brokers With Managed Accounts

These 5 brokers offer managed trading accounts and received the highest overall ratings in our in-depth reviews. All 5 managed trading account brokers are available .

  1. AvaTrade - AvaTrade maintains a top position when it comes to social and copy trading tools. Traders can access the proprietary AvaSocial app as well as popular third-party platforms, DupliTrade and ZuluTrade. The comprehensive performance metrics can help you find the right strategy provider for your goals and risk appetite.
  2. Deriv.com - Deriv allows clients to replicate the positions of experienced traders through signals on DMT5. You can receive signals in real-time and decide whether to action trades in your own account. The best part is that the process of copying is fully automated, which is ideal for beginners seeking a hands-off approach.
  3. Pepperstone - Pepperstone facilitates the replication of experienced traders' strategies through MetaTrader Signals and DupliTrade. However, it lacks support for cTrader Copy and does not offer a proprietary social trading network similar to those found on platforms like eToro or Vantage, which foster lively social trading communities for aspiring traders.
  4. XM - XM global offers a pre-integrated signals service via the MT5 platform. Aspiring investors can view detailed performance metrics and copy the trades of strategy managers. It's easy to set up, only requiring a handful of steps after logging in to your MQL5 community account.
  5. IC Markets - Launched in February 2023, the IC Social app offers an intuitive way to learn, share, and mirror the positions of other traders with just a few clicks. Additionally, the app features risk management tools and supports dedicated trading groups. Alternatively, IC Markets grants access to Signal Start, along with well-known third-party copy trading platforms including ZuluTrade and cTrader Copy.

Best Managed Trading Accounts in 2024 Comparison

Best Managed Trading Accounts in 2024 Comparison
Broker Copy Trading MAM Account PAMM Account Minimum Deposit Visit
AvaTrade logo
- Visit
Deriv.com logo
$5 Visit
Pepperstone logo
$0 Visit
XM logo
$5 Visit
IC Markets logo
$200 Visit
LiteForex Europe logo
$50 Visit
DNA Markets logo
$100 Visit
eToro logo
$50 Visit
RoboForex logo
$10 Visit
InstaForex logo
- Visit
Trade Nation logo
$0 Visit
BlackBull Markets logo
$0 Visit
Vantage logo
$50 Visit
CMTrading logo
$100 Visit
Fusion Markets logo
$0 Visit

#1 - AvaTrade

Why We Chose AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
  • Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
  • Platforms: WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail) 1:400 (Pro)

#2 - Deriv.com

Why We Chose Deriv.com

Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.

"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "

- DayTrading Review Team
  • Instruments: CFDs, Multipliers, Forex, Stocks, Indices, Commodities
  • Regulator: MFSA, LFSA, VFSC, BFSC
  • Platforms: Deriv Trader, MT5
  • Minimum Deposit: $5
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:1000

#3 - Pepperstone

Why We Chose Pepperstone

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
  • Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
  • Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:500 (Pro)

#4 - XM

Why We Chose XM

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."

- DayTrading Review Team
  • Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
  • Regulator: ASIC, CySEC, DFSA, FSC, FSCA
  • Platforms: MT4, MT5
  • Minimum Deposit: $5
  • Minimum Trade: 0.01 Lots

#5 - IC Markets

Why We Chose IC Markets

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
  • Regulator: ASIC, CySEC, FSA
  • Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
  • Minimum Deposit: $200
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)

What Are Managed Trading Accounts?

Managed trading accounts are portfolios that are owned by an individual but managed by a third party.

You give control – usually to a money manager – to trade assets such as forex without your prior approval. They should make decisions based on your risk appetite, personal wealth and financial goals.

Managers are usually compensated by a fee, often calculated as a percentage of assets under management (AUM). Alternatively, you may pay a routine subscription fee, for example monthly, and/or a percentage of any profits.

Importantly, they require you to take a leap of faith and put your trust (and money) in the lap of an external party. This can be uncomfortable for many individuals.

Managed account brokers should provide you with regular reports on your account, including a list of its holdings and its performance.

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Royston Wild
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Types Of Managed Trading Accounts

These trading vehicles fall into several categories:

Analysts at Statista expect assets under management (AUMs) in the robo advisor market to continue growing steadily, as the chart below shows.

Graph showing expected growth of managed account robo advisors
Source: Statista

How To Compare Managed Trading Accounts

You have plenty of choice when it comes to deciding which managed account provider to go with. However, there are multiple factors we, and you, should consider:

Trading Performance

Reputable managed account brokers supply a wide range of information on who makes trading decisions, their philosophy, and other elements that influence their decision-making.

You should choose a company that provides comprehensive reports showing the historical performance of the accounts they supervise.

Total return, risk-adjusted return, volatility, and performance against key benchmarks are critical criteria that you should pore over carefully.

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Tip: Examining a manager’s record over a longer period provides a more reliable indication of their ability to navigate changing market conditions.

Capital Requirements

Managed account providers typically demand that you meet minimum investment amounts. The exact value differs from brokerage to brokerage, although they can be high (sometimes running into six-figure amounts).

At Charles Schwab, for example, a managed account based on equities trading has a minimum investment requirement of $100,000. For fixed income securities the amount rises to $250,000.

However, if you want a more accessible option, IG Smart Portfolios are available with a $500 minimum investment.

Commission and Fee Structure

Employing the expertise of a market professional involves taking on extra cost. In fact, the expense of using a managed account can be high.

Fees may be applied on an annual basis and charged as a percentage of total assets under administration (AUMs). These can vary considerably amongst account providers, but most charge between 1% and 3% of AUM.

Alternatively, some providers charge a monthly subscription fee and a cut of any profits, known as a performance fee.

That said, eToro is popular because it does not charge any additional fees to copy trades beyond the usual spreads and transaction fees. The downside is that the expertise and performance of master traders can vary dramatically.

Importantly, large fees can significantly erode investment returns. Keeping costs to a minimum is essential, although you may be willing to accept higher expenses if you expect to make a better return with a specific provider, for example.

Robo advisors tend to charge lower fees than account providers that employ money managers. I think these can be a good option for traders operating on a low budget.

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Royston Wild
Author

Customer Support

The extra fees that you often pay for managed accounts should (in theory) guarantee a good level of customer service. You will want to be able to contact your provider quickly and easily, and to receive regular updates on your holdings and the performance of your portfolio.

You can consult user feedback on review websites like Trustpilot to assess the quality of a provider’s customer support.

Alternatively, we test the customer support of managed account brokers as part of our review process, with IG standing out for its 24/7 reliable assistance.

Technology and User Interface

Some money managers operate sophisticated in-house trading platforms, while others outsource their non-core functions to third-party providers like Fidelity.

It is important to select an account provider which has stable online technology and offers a user-friendly interface. After all, if you cannot understand any of the reports or information provided to you, how can you tell how close you are to meeting your financial goals?

FxPro offers a MAM account through the industry’s most popular platform – MetaTrader 4, so if you are already familiar with this forex trading software you can skip a steep learning curve.

I also recommend that you check that the managed account provider you are planning to use is recognized and approved by your local regulator.

In the UK, for example, clients can ascertain an account provider’s regulatory status through the Financial Conduct Authority (FCA).

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Royston Wild
Author

Bottom Line

Managed trading accounts can be extremely useful if you have little time or energy to build and supervise your portfolio. They can also provide tax benefits, and allow you to benefit from the expertise of a professional.

However, these accounts may require high investment amounts and can attract elevated fees (though cheaper options are often provided by robo advisors).

When comparing brokers with managed trading accounts, it is important to consider customer support, interfaces and fees. It is also critical to evaluate the skill of the investment manager by considering past trading performance.

FAQ

What Is A Managed Trading Account?

A managed trading account is a financial product where a human (or automated) advisor is delegated day-to-day management of your portfolio.

This third party should execute transactions based on your risk tolerance, financial goals and economic circumstances, and closely monitor the portfolio’s performance.

What Is The Difference Between A Managed And Unmanaged Trading Account?

Managed trading accounts provide a hands-off approach to trading. You give control to a manager who will buy or sell securities and assets on your behalf.

Conversely, unmanaged accounts require you to take action and make trading decisions.

Are Managed Trading Accounts Worth The Fees?

Managed trading accounts may be worth it if you do not want to actively trade and have the capital to meet the sometimes large minimum investment requirements.

However, these accounts do not necessarily beat the market and returns can be below average due to the fees incurred.