There are indeed companies that trade forex for you. But not all of them are legal.

Forex is the biggest financial market in the world. With an average of $6.6 trillion traded on the forex market every day, everyone can see the huge profit potential. Unfortunately, not everyone can easily understand how forex works.

Lots of beginners begin forex trading every year. Some of them are willing to learn step-by-step, suffering some losses along the way, and then mastering the trade after a long time has passed. Some others won't bother to learn, instead looking for companies that trade forex on behalf of their investors. However, are those companies that trade forex for you legitimate?

As a matter of fact, there are indeed companies that trade forex for you. But not all of them are legal.

Companies that Trade Forex for You


Companies that Trade Forex for You Legitimately

Hedge funds, pension funds, banks, and asset management companies may engage in the foreign exchange market on behalf of their clients. Export-import businesses and manufacturing companies usually asked their banks to trade forex on their behalf. Retail investors might also request that their asset managers trade foreign exchange to enrich their portfolios.

For example, when you are registering for a new pension fund, they will ask whether you want your funds to go to bonds, stocks, currencies, and/or other types of financial assets. If you choose currencies as one of your preferred assets, then the company will trade forex for you.


Companies that Trade Forex for You Illegitimately

Two types of entities may illegally proclaim themselves as companies that trade forex for you. First, forex brokers. Second, forex traders.

Forex brokers act as intermediaries and/or market makers in the forex market. It means they either connect sellers and buyers in the market or become one of the counterparties in a forex transaction. They have a huge vested interest in your losses/wins, so, they should not trade forex on behalf of their clients.

Leading financial market supervisory institutions in the US, Europe, Japan, and elsewhere have categorically banned forex brokerage companies from trading on behalf of their clients. As such, any forex broker that offers similar services is doing illegal business.

Common people may also illegally offer forex trading services. How? Official regulatory bodies strictly monitor anyone who wishes to trade forex (or other financial assets) on behalf of others.

Individuals and teams who want to trade forex for you legally have to prove that they are well-trained, own sufficient working capital, and are fully certified to do so. They cannot gain licenses by self-proclaiming themselves as "experienced traders with millions of profit every year."

For forex brokers and traders, there is only one way to trade on behalf of others without going through such laborious licensing processes. That is, through copy trading platform.


Copy Trading Platform

Some regulatory bodies allow forex brokers to offer copy trading platforms for their clients, such as ZuluTrade, cTrader, etc. On the platform, you may copy the transactions done by professional traders. However, YOU have absolute control over your funds. 

Copy trading platforms prevent forex brokers from directly trading on your behalf. Hence, it protects you from a conflict of interest with your broker.

Certain copy trading arrangements may permit professional traders to trade on your behalf using funds in your account. However, you will still be able to revoke their access at any time.

If you are looking for companies to trade forex for you, simply choose among licensed forex brokers that offer copy trading platforms. You will then be able to browse hundreds or even thousands of professional portfolios and duplicate whichever you think is good in order to gain similar results.