Forex trading has come a long way, and today, there are millions of people trading forex within a 24 hours cycle all over the world. One common forex account used by forex traders is a PAMM account forex trading account. This account is offered by PAMM account forex brokers to traders interested in PAMM trading. In this article, we will explain what a PAMM account is and reveal some of the best brokers who offer traders access to this account.
In This Guide
ASIC, CBI, BVI, FSCA, IIROC, FFAJ, JFSA, ADGM FRSA
up to 40% bonus
$10 000 demo
FCA, ASIC, CIMA, SIBL
up to 50% bonus
VFSC, FSC, IBFC
A PAMM account simply means Percentage Allocation Money Management Account. This account allows you to make a deposit into your trading account, and the funds will be managed by a fund manager on your behalf. Meaning that the manager will place trades for you while you share part of the profits should the trade turn out to be profitable.
PAMM managers manage hundreds of accounts and distribute profits to account holders based on their investments and the percentage of profits made. In a similar vein, losses are distributed equally as well. Once you open a PAMM account, you will be assigned a manager to manage it on your behalf.
Today, there are many brokers offering PAMM accounts to interested traders, and these are some of the best PAMM account forex brokers online.
This is one highly recommended broker to open a PAMM account with. IC Markets started offering PAMM accounts in 2012. Their allocation methods are very flexible and easy to understand. Once you open an account with them, you will be furnished with regular updates about trading performance, commission and any other vital information. IC Markets have some of the best advisors with proven years of experience.
You enjoy fast executions, great spreads and pips starting from 0 if you have a RAW account. IC Markets is transparent, and you can enter a trade with only a click of a button. They also have a few proprietary trading platforms, as well as MT4 and MT5. This broker is regulated by CySEC and ASIC.
Pepperstone has grown to become one of the biggest brokers in the world. This Australian broker also offers traders PAMM accounts. Pepperstone’s PAMM has many features and benefits, one of which is the fact that you will always have access to your funds. Pepperstone is liberal and allows traders to use different strategies like scalping, hedging and the likes. Their managers have also experienced traders with years of success.
This PAMM account forex broker allows full control of more than 100 sub-accounts under one manager, and this number does not cause any market disruption of any kind.
Pepperstone is ideal for large PAMM traders, and you can use their MT4 and MT5 trading portals. The minimum trading amount allowed is 1 micro lot. They also have ZuluTrade, cTrader and cTrader desktops. Pepperstone is regulated by the FCS, CySEC, ASIC, DFSA.
Still looking for a reliable PAMM account forex broker? FXPRO is another notable name to consider. Their managers allocate money to trades based on the best possible outcomes and also offer investors comprehensive reports of trade performance. With FxPro, you will not be in the dark about how your investment is doing. All you need is to invest your money and wait for returns.
This broker also offers traded rebates which serve as an investment incentive for the trading public. They also operate a transparent commission policy, mark-up fee, performance fees that can be set by your account manager. Subsequently, funds are also allocated based on the proportional equity balance of individual accounts. FXPRO has MT5, MT5 and proprietary platforms like cTrader. Their activities are regulated by CySEC, FCS, FSCA and a host of other regulators.
Holders of AvaTrade PAMM accounts can rest easy because this broker has a thriving network of experienced money managers. They use advanced automated strategies to place successful trades so their down liners can profit from. The Expert advisors on AvaTrade place large block orders without stress and are also allowed to implement different trading strategies.
Another unique feature in AvaTrade is the access for managers to create sub-trading groups to reflect the trading strategies they wish to implement. Accounts are allocated based on equity, lots and balanced percentages.
We also like the fact that you can start with a demo account to understand how the system works before funding your real account for live trades. The trading platforms available to traders include MT4, MT5, Mirror Trader and ZuluTrade. This broker is regulated by FSA, ASIC, IIROC, FSCA and others.
FP Markets is also one of the best PAMM account forex brokers in the game, and many consider their platforms to be conducive for PAMM trading. FP Markets has been offering access to traders for close to two decades now, and they won the award for the best PAMM account services in 2005.
There are a host of trading tools available on the platform, and the expert advisors can use both PAMM and MAM accounts as they wish. FP Markets offers three different allocation methods, which are lot, percentage and balance accounts. These options offer the flexibility of choice, and they have no limits in terms of the number of accounts you can handle at a time. FP Markets is another excellent platform for high-volume PAMM traders. This broker is regulated by ASIC.
Not every forex broker offers PAMM accounts but the best PAMM account forex brokers who do offer traders flexibility of choice. Before choosing a broker for this account niche, make sure you are well versed with PAMM trading. Then do your research to ensure the broker offers you all you require before opening an account with them.
No. Some brokers do not
This information will be boldly displayed under their account type section
It varies from broker to broker. Some brokers have a $0 requirement while others have a $100 requirement
Most PAMM account forex brokers allocate accounts on the basis of balance, lot or percentages