I have a forex account but the brokerage is in another country. Do I pay taxes or what? And if I do how do I go about doing that?

Answer
US citizens and resident aliens pay tax on worldwide icnome, so of course you do.

Unless this is classified as a 1256 contract, you report it on line 21, other income. 1256 goes to form 6781.

And, if the account had more than $10,000 in it at *any* time during 2009, don't forget to file form TDF 90-22.1

what are the requirements to put my investment in a managed forex account in the USA and in UK?

I would like to know the regulations and laws in the US and UK for investing in a managed forex account.

Answer
There are some forex account management service provider. You should take their help to manage your trading account. Investopedia Forex Trading Rules may your more help.