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. eToro USA - You can mirror the positions and strategies of up to 100 other traders with the market-leading eToro US copy trading service. Unlike many competitors, eToro gives you more control over your portfolio, allowing you to stop or pause a copied trade at any time. Pricing is also fairly competitive, with only $1 required to copy a position. eToro copy trading is for crypto only.
  2. DNA Markets - DNA Markets offers Signal Start, a user-friendly copy trading solution. The tool is easy to use and new traders enjoy the first 3 months subscription-free. On the negative side, it lacks the social trading features you get with more comprehensive apps like eToro.
  3. Pocket Option - Pocket Option hosts a user-friendly social trading service. Available in the platform, you can use the ‘Top Ranked Trades’ leaderboard, among others, to find traders to follow. The social trading solution is also available 24/7 and has active community chats. Tip: check the number of trades made and profit generated over several months rather than comparing providers over a few days.
  4. IQCent - A copy trading service is pre-integrated into the broker’s web platform, where you can follow and replicate the trades of up to 10 established investors. Where it shines is its ease of use - you simply decide how much you want to invest and hit 'copy'. On the downside, the pool of master traders is narrow and you get limited data on past performance, making it less reliable.
  5. Videforex - Videforex offers an integrated copy trading service where users can automatically or manually replicate the positions of other traders. Simply choose a trader and asset class and specify the investment amount.

Best Managed Trading Accounts in 2024 Comparison

Best Managed Trading Accounts in 2024 Comparison
Broker Copy Trading MAM Account PAMM Account Minimum Deposit Visit
eToro USA logo
$10 Visit
DNA Markets logo
$100 Visit
Pocket Option logo
$50 Visit
IQCent logo
$250 Visit
Videforex logo
$250 Visit
ForexChief logo
$10 Visit
Pionex logo
$0 Visit
RaceOption logo
$250 Visit
BinaryCent logo
$250 Visit
World Forex logo
$1 Visit

#1 - eToro USA

Why We Chose eToro USA

You can mirror the positions and strategies of up to 100 other traders with the market-leading eToro US copy trading service. Unlike many competitors, eToro gives you more control over your portfolio, allowing you to stop or pause a copied trade at any time. Pricing is also fairly competitive, with only $1 required to copy a position. eToro copy trading is for crypto only.

"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."

- DayTrading Review Team
  • Instruments: Stocks, Options, ETFs, Crypto
  • Regulator: SEC, FINRA
  • Platforms: eToro Trading Platform & CopyTrader
  • Minimum Deposit: $10
  • Minimum Trade: $10

About eToro USA

eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.

Pros

  • The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
  • A free demo account means new users and prospective day traders can try the broker risk-free
  • Investors can access Smart Portfolios for a more hands-off approach, covering a range of sectors and markets such as renewable energy and artificial intelligence

Cons

  • The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
  • Average fees may cut into the profit margins of day traders
  • There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos

#2 - DNA Markets

Why We Chose DNA Markets

DNA Markets offers Signal Start, a user-friendly copy trading solution. The tool is easy to use and new traders enjoy the first 3 months subscription-free. On the negative side, it lacks the social trading features you get with more comprehensive apps like eToro.

"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "

- DayTrading Review Team
  • Instruments: CFDs, Forex, Indices, Commodities, Stocks, Crypto
  • Regulator: ASIC
  • Platforms: MT4, MT5
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

About DNA Markets

DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 250+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.

Pros

  • Convenient account funding with 7 base currencies, a $100 deposit and a wide range of payment methods
  • Short-term trading strategies are permitted including scalping and automated trading using Expert Advisors (EAs)
  • 24/5 customer support with response times of <2 minutes during testing

Cons

  • The investment offering trails alternatives, especially in terms of stocks, cryptos and commodities
  • There are limited educational and research tools, reducing its appeal to beginners
  • Despite access to MT4 and MT5, there is no proprietary trading app

#3 - Pocket Option

Why We Chose Pocket Option

Pocket Option hosts a user-friendly social trading service. Available in the platform, you can use the ‘Top Ranked Trades’ leaderboard, among others, to find traders to follow. The social trading solution is also available 24/7 and has active community chats. Tip: check the number of trades made and profit generated over several months rather than comparing providers over a few days.

"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."

- DayTrading Review Team
  • Instruments: Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
  • Regulator: MISA
  • Platforms: Web, MT4, MT5
  • Minimum Deposit: $50
  • Minimum Trade: $1

About Pocket Option

Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.

Pros

  • The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries
  • The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks
  • Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks

Cons

  • Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
  • The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
  • The MISA is a weak regulator with limited investor protection for retail traders

#4 - IQCent

Why We Chose IQCent

A copy trading service is pre-integrated into the broker’s web platform, where you can follow and replicate the trades of up to 10 established investors. Where it shines is its ease of use - you simply decide how much you want to invest and hit 'copy'. On the downside, the pool of master traders is narrow and you get limited data on past performance, making it less reliable.

"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "

- DayTrading Review Team
  • Instruments: Binary Options, CFDs, Forex, Indices, Commodities, Crypto
  • Regulator: IFMRRC
  • Platforms: Online Platform, TradingView
  • Minimum Deposit: $250
  • Minimum Trade: $0.01
  • Leverage: 1:500

About IQCent

IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.

Pros

  • IQCent is one of the few binary options brokers that also offers a copy trading service for hands-off traders
  • The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%
  • The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests

Cons

  • The market analysis is very basic with limited technical summaries and insights from analysts
  • IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
  • There's no automated trading support for algo traders

#5 - Videforex

Why We Chose Videforex

Videforex offers an integrated copy trading service where users can automatically or manually replicate the positions of other traders. Simply choose a trader and asset class and specify the investment amount.

"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."

- DayTrading Review Team
  • Instruments: Binary Options, CFDs, Forex, Indices, Commodities, Crypto
  • Platforms: TradingView
  • Minimum Deposit: $250
  • Minimum Trade: $0.01
  • Leverage: 1:500

About Videforex

Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.

Pros

  • Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, which is in line with competing brands like IQCent
  • The support times are fast and reliable based on tests - few brokers offer 24/7 multi-lingual video support
  • The firm facilitates both day trading and binary options which is great for those looking to diversify their portfolios

Cons

  • US clients aren’t accepted due to legal restrictions
  • No MetaTrader 4 integration
  • The broker isn’t overseen by a trusted regulatory agency

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.

💡
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
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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
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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.