Forex is becoming increasingly popular among the entrepreneurial minded in the population especially since it became available for the average joe to get involved and learn Forex trading quickly. The principle of leveraging now allow for those with as little as $250 to get started trading in Forex, whose technical name is the Foreign Exchange.

Leveraging, while allowing the common man to make tens and hundreds of thousands also makes it possible for him to lose that much. It can be very risky and you need to know everything you can about your broker's policies regarding managed Forex trading accounts.

Before you go with the first broker you come across that promises wealth and fortune untold make sure you do your homework. Forex is an unregulated market which means that any regulation that is enacted is largely reactive meaning that its only after you get swindled out of your money do they regulate. One way to make sure your broker is legit is to make sure they're registered as a Futures Commission Merchant with the CFTC (Commodity Futures Trading Commission) and a member of the National Futures Association.

Just like the stock markets Forex is incredibly complex and nearly unpredictable. Nearly but not impossibly mind you. However there is so much to know about the intricacies of Forex that many people opt out of what could be a potentially huge opportunity to amass a fortune. Never fear, for those of you with a bit more in savings you can choose to have your Forex trading account managed for you by trained professionals. Often opening a managed account will require a large capital investment of at least $5000 and going as high as you can imagine. But believe me it's well worth the risk.

Think of Forex as another way to diversify your portfolio and make 4-10% per month on your investment.

It can be pretty tough to find a quality managed account so there are a few criteria you should use to narrow the list and find only the cream of the crop. First you'll want to avoid any managed Forex trading accounts that charge a management fee up front. You should only pay them on performance. If they're charging a management fee it pretty much means they don't have enough confidence in their brokers abilities enough to trust solely in a 'by performance' agreement. If they don't trust themselves, neither should you. Look for pay by performance percentage lower than 35% and higher than 20% (anything lower and you can tell they're inexperienced).

Are they going to be making money off of the spread prices? If they are this is another reason to only pay on performance. If they are making money from the usual broker fees in the spread prices and you're paying a set management fee that doesn't stop them from making more trades than usual to line their pockets with higher than is required ordering.

Another thing to check on is if they offer live reports of the trades that they can send to you on a moments notice. In this world transparency is what keeps us all honest and happy.

To make sure you're getting a reputable broker to manage your account simply ask around and be discerning. Scan the forums, ask good questions about their trading history and their customer service policies. Chances are if you can get a majority of positive responses you're good to go.

After you find a broker you're comfortable with you're pretty much there. All that you need to decide then is how much you're going to toss to this managed Forex account. Don't bet your life savings on it. Use only capital you have dedicated to risky ventures. While managed Forex trading accounts can be lucrative they are an investment for more diverse portfolios and more mature investors.