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.
Top Managed Trading Account Providers 2026
These 6 brokers offer managed trading accounts and received the highest overall ratings in our in-depth reviews. All 6 managed trading account brokers are available in Panama.
-
- Demo account
- Platforms: MT4, MT5, TradingCentral
- Min. deposit: $5
-
- Demo account
- Min. deposit: $100
- Min. trade: 0.01 Lots
-
- Demo account
- Regulator: FSC
- Platforms: R StocksTrader, MT4, MT5, TradingView
-
- Demo account
- Regulator: ASIC, CySEC, FSA, SCB, CMA-Kenya
- Min. deposit: $200
-
- Demo account
- Min. deposit: $0
- Min. trade: 0.01 Lots
73-89% of retail investor accounts lose money when trading CFDs -
- Demo account
- Regulator: ASIC, VFSC, FSA
- Platforms: MT4, MT5, cTrader, TradingView, DupliTrade
Learn how we test brokers and why you can trust our ratings.
Here is a summary of why we recommend these brokers in October 2026:
- XM 4.8/5 During our tests, XM’s MAM platform delivered strong administrative control and flexible risk allocation across multiple accounts. Transparency was solid, with transparent reporting on performance and trade history. Personalization relied on the money manager’s setup. Spreads on major pairs averaged 1 pip, with no additional commission on Standard accounts.
- AvaTrade 4.9/5 When we tested AvaTrade’s managed account offering via MAM, we found high transparency and reliable reporting, with performance metrics updated frequently. Customization was solid - allocation methods and risk settings were flexible. However, personalization depended on the money manager. Spreads on EUR/USD averaged 0.9 pips, plus a standard commission per lot.
- RoboForex 4.5/5 When we tried RoboForex’s CopyFX platform, we found excellent transparency - trader stats, risk levels, and historical performance were easy to track. Customization included flexible investment terms and risk filters. Reporting was detailed and refreshed regularly. Spreads on major pairs averaged 0.4–0.6 pips, with no commission for investors using CopyFX.
- IC 4.8/5 When we tested IC’s MAM solutions, we found deep customization - risk allocation models, lot sizing, and strategy settings were all configurable. Reporting was timely and detailed, with strong transparency. Administrative tools were robust. Spreads averaged 0.1–0.3 pips on majors, plus $3.5 commission per lot - ideal for precision-driven managers.
- Pepperstone 4.8/5 When we tested Pepperstone’s MAM and Social Trading setups, we found top-tier transparency, real-time reporting, and flexible allocation methods across accounts. Managers could tailor strategies with detailed lot distribution. Admin tools were professional-grade. Spreads on Razor accounts averaged 0.2–0.4 pips on majors, plus $3.50 commission per lot traded.
- Fusion Markets 4.6/5 During our latest tests, Fusion Markets’ managed account solution delivered strong transparency and clean reporting, with detailed trade stats and live performance tracking. Allocation models were flexible, but personalization relied on the manager’s setup. Administration was smooth. Spreads averaged 0.2–0.4 pips on majors, with a low $2.25 commission per lot.
Best Managed Trading Accounts in 2026 Comparison
| Broker | Copy Trading | MAM Account | PAMM Account | Minimum Deposit |
|---|---|---|---|---|
| XM | ✔Yes | ✘No | ✘No | $5 |
| AvaTrade | ✔Yes | ✔Yes | ✔Yes | $100 |
| RoboForex | ✔Yes | ✔Yes | ✘No | $10 |
| IC | ✔Yes | ✔Yes | ✔Yes | $200 |
| Pepperstone | ✔Yes | ✔Yes | ✔Yes | $0 |
| Fusion Markets | ✔Yes | ✔Yes | ✔Yes | $0 |
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| XM | 3133 | ||||
| AvaTrade | 13567 | ||||
| RoboForex | 773 | ||||
| IC | 2 | ||||
| Pepperstone | 3678 | ||||
| Fusion Markets | 10051 |
XM
With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years.
Christian Harris, Reviewer
XM quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies
- Regulator
- CySEC, DFSA, FSCA, SCA, FSA, FSC-Belize, FSC-Mauritius, CMA-Kenya, CMA-UAE
- Platforms
- MT4, MT5, TradingCentral
- Minimum Deposit
- $5
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, JPY, ZAR
Pros
- XM’s customer support has delivered over years of testing, with 24/7 assistance in 30 languages, response times of under 2 minutes and a growing Telegram channel.
- XM’s Zero account is ideal for day trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, and no requotes or rejections.
- XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live.
Cons
- XM is falling behind the curve by not offering cTrader, which is favored over MetaTrader by some serious traders for its smoother user experience and superior charting package.
- While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
- Although trusted and generally well-regulated in some regions, XM also has global entities registered with the weak regulators like FSC (Belize) and FSA (Seychelles), whilst UK clients are no longer accepted, reducing its market reach.
AvaTrade
AvaTrade offers active traders everything they need: an intuitive WebTrader, powerful AvaProtect risk management, a smooth 5-minute sign-up process, and dependable support you can rely on in fast-moving markets.
Jemma Grist, Reviewer
AvaTrade quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
- Regulator
- ASIC, CySEC, FSCA, ISA, CBI, JFSA, BVI, FSRA/ADGM, AFM, CMA-Kenya, CIRO (via Friedberg Direct)
- Platforms
- WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingView, TradingCentral, DupliTrade
- Minimum Deposit
- $100
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, ZAR
Pros
- Years on, AvaTrade remains one of the few brokers offering a bespoke risk management tool, AvaProtect, that insures losses up to $1M for a fee and is easy to activate on the platform.
- The WebTrader excelled in our hands-on tests, sporting a user-friendly interface for beginners, complete with robust charting tools like 6 chart layouts and 60+ technical indicators.
- AvaTrade launched AvaFutures to offer low-margin access to global markets, then expanded in 2025 as one of the first brokers to add CME’s Micro Grain Futures, and then later in the year went further by integrating with TradingView.
Cons
- The AvaSocial app is good but not great – the look and feel, plus the navigation between finding strategy providers and account management needs upgrading to rival category leaders like eToro.
- While signing up is a breeze, AvaTrade lacks an ECN account like Pepperstone or IC Markets, which provides the raw spreads and ultra-fast execution many day traders are looking for.
- AvaTrade’s WebTrader has improved, but work is still needed in terms of customizability – frustratingly widgets like market watch and watchlists can’t be hidden, moved, or resized.
RoboForex
RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists.
Christian Harris, Reviewer
RoboForex quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Crypto
- Regulator
- FSC
- Platforms
- R StocksTrader, MT4, MT5, TradingView
- Minimum Deposit
- $10
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR
Pros
- RoboForex secured the 'Best Forex Broker 2025' title in DayTrading.com's Awards after broadening their FX offering, cutting spreads and opening up services in various countries.
- RoboForex offers over 12,000 instruments, providing more short-term trading opportunities than the vast majority of online brokers, with forex, stocks, indices, ETFs, commodities, and futures.
- The broker offers two commission-free withdrawals each month in the Free Funds Withdrawal program, helping day traders to minimize transaction costs.
Cons
- RoboForex provides a variety of account types, which, while offering flexibility, can be overwhelming for newer traders trying to choose the most suitable option for their trading style. Alternatives, notably eToro, provide a smoother entry into online trading with one retail account.
- Despite 15+ years in the industry and registering with the Financial Commission, RoboForex is authorized by one ‘Red-Tier’ regulator – the FSC in Belize, lowering the level of regulatory protections for traders.
- RoboForex now restricts base currency options to USD and EUR. This limitation may inconvenience day traders preferring to manage their accounts in other currencies, while potentially leading to conversion fees.
IC
IC (formerly 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.
Christian Harris, Reviewer
IC quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Regulator
- ASIC, CySEC, FSA, SCB, CMA-Kenya
- Platforms
- MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower
- Minimum Deposit
- $200
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- IC offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
- IC secured DayTrading.com's 'Best MT4/MT5 Broker' in 2025 for its seamless, industry-leading MetaTrader integration, refined over years to maximize the platform experience.
- As a tightly regulated and widely respected broker, IC prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
Cons
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
- While IC offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
Pepperstone
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 24/5 support (18h a day on weekends).
Christian Harris, Reviewer
Pepperstone quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Spread Betting
- Regulator
- FCA, ASIC, CySEC, BaFin, DFSA, SCA, SCB, CMA-Kenya
- Platforms
- Pepperstone Trading Platform, MT4, MT5, cTrader, TradingView
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- After adding spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools for financial spread bettors in supported countries.
- Offers a dedicated CopyTrading app for traders who want a less active approach to trading, available in some countries.
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing and friendly agents knowledgeable about its products and trading tools.
Cons
- Execution may not feel as reliable in fast markets as headline speeds suggest. In our own testing, execution was fast at desired prices, but some community complaints focus on slippage, stop-loss fills and spread-sensitive order triggers during volatile conditions.
- Overnight holding fees are higher than that found with some Market Maker brokers (usually Benchmark + 2.5%). This makes pepperstone an ideal broker for day traders and forex scalpers but less suitable for swing traders who often keep position open overnight.
- Despite improvements to its range of markets, crypto CFD offerings are still fairly limited compared to other brokers who focus on this area, such as Eightcap, and there's no option to invest in real coins.
Fusion Markets
Fusion Markets is a standout option for forex traders looking for excellent pricing with spreads near zero, industry-low commissions and recently TradingView integration. It’s a particularly good broker for Australian traders where the company is headquartered and regulated by the ASIC.
Jemma Grist, Reviewer
Fusion Markets quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Crypto
- Regulator
- ASIC, VFSC, FSA
- Platforms
- MT4, MT5, cTrader, TradingView, DupliTrade
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- The range of charting platforms and social trading features is excellent, with MT4, MT5, cTrader and more recently TradingView, catering to a wide range of trader preferences.
- Fusion Markets offers best-in-class support with very fast, friendly and helpful responses during tests and no frustrating automated chatbot to navigate.
- Withdrawal processing times have been slashed to under an hour and can be processed 24/7, making it faster and easier for active traders to withdraw any gains.
Cons
- While the selection of currency pairs trumps most rivals, the broker's alternative investment offering is average with no stock CFDs beyond the US.
- The demo account expires after 30 days, limiting its potential as a useful trading tool alongside a real-money account.
- Traders outside of Australia must sign up with weakly regulated global entities with limited safeguards, though in August 2026 they made negative balance protection available to all eligible accounts.
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.
Royston WildAuthorTypes Of Managed Trading Accounts
These trading vehicles fall into several categories:
- Copy trading: This is the most straightforward managed account solution that has become increasingly popular in recent years. Copy trading platforms allow you to mirror the strategies of a wide range of experienced traders, with the best brokers providing performance leaderboards and risk ratings to help you find suitable strategy providers.
- Multi-account manager (MAM) accounts or percentage allocation management module (PAMM) accounts: PAMM accounts distribute profits or losses among traders based on their initial deposit. MAM, a variant of PAMM, offers flexibility by allowing non-proportional trade allocations, enabling traders to assume varying levels of risk, leading to potentially different returns.
- Separately managed accounts (SMAs): These are actively supervised by a human portfolio manager (or team of managers) who will monitor your account’s performance, conduct research, and buy or sell securities based on your preferences. These are popular with longer-term investors and high-net-worth individuals.
- Robo advisors: These are digital platforms that use algorithms to manage the portfolio. These automated systems are much cheaper to employ than human-managed SMAs, meaning that they have grown rapidly in popularity since being introduced in 2008. The downside is that the level of portfolio customization that you enjoy tends to be lower.
Analysts at Statista expect assets under management (AUMs) in the robo advisor market to continue growing steadily, as the chart below shows.
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.
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).
If you want an 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.
Royston WildAuthorCustomer 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.
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).
Royston WildAuthorBottom 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.