One very important aspect of online Forex trading is the use of Forex managed accounts. Just as the name suggest, these are simply normal virtual accounts but ones that are used by those that want to get more knowledge on the entire Forex trading process. Basically, it gives the user a taste of what the real Forex trading is like with activities such as Forex commentaries, Forex tools, Forex charts and even real Forex rates.
Examples of the tools used include Forex IQ, Forex education, PIP calculator and a world clock. It is mainly used by beginners. They can be used by whatever means possible; whether computers, laptops or even phones.
Forexmanagedaccount.com is one of the websites offering the account. In this case, there is a procedure that one has to undergo in order to start using his or her Forex managed accounts. To start with, you should install the Forex trading software offered by the site. The website is free of charge and will go a long way in helping you going about your transaction. Secondly, open up a trading account. To do this, you are required to register after which you will receive an email containing your account password plus username.
Together with the username, you will also receive some sort of manual for the account. You will then get access to the websites dealing rate window containing their great currency rates including the sell and buy prices, bid and ask rates. In addition to this, there is also the stop loss and limit option.
