I have not used managed account myself but I have done some research about them and I find them to be very helpful especially for traders with busy schedules and also beginners.
One thing am sure you can also agree with me is that Forex and binary options trading is quite stressful especially when trading without using any trading robot. In addition to the high risk involved, holding trades until they make the intended profits requires extraordinary patience. Actually, some of the times, the trades end up frustrating you by making losses and it will take real discipline to control the emotions that arise from loosing trades.
This is where managed accounts come in. Managed accounts are trading accounts where the trader trusts his capital/money to a more experienced trader. You normally deposit money with a in an account but you are not the one trading. You only get the profits and of course at a price which you agree with the provider of the managed account.
However, considering the many fraudsters in the market today, you have to be sure that the managed account provider is registered. Also, you should do some background research and especially from the client reviews and feedbacks.
Nevertheless, if you find a trustworthy managed account provider, you will be a lucky investor. You actually make money without the much stress of trading. You actually get enough time to continue doing your daily chores while still making money from the financial markets.
But even with the managed accounts, you should remember that the risk involved in forex trading doesn’t change.