Self-trading in the currency markets is at best a difficult activity. To be successful a currency trader must follow market movements 24 hours a day, six days a week. Many Forex investors do not have the time, experience or desire to trade with such intensity themselves. Forex Managed Accounts were created for investors with risk capital who do not necessarily want to trade on their own.   There is no lock up period.
The managed account only holds your positions and allows you to follow a cost-basis for each of the currencies in your account. Based on your long-term goals, risk tolerance and time constraints

Whether you're interested in a conservative or aggressive approach, you will find the trader who will suit your risk parameters.