A PAMM or Percentage Allocation Management Module account allows a trader to administer an unlimited quantity of managed accounts. It is a separate MetaTrader account where the funds of all investors are aggregated and where the money manager performs trading. Funds in PAMM accounts are managed exclusively by the plugin and should not be managed externally. PAMM accounts are designed to allow the application of strategies as set by the Manager, who manages his/her own capital in trading in the FX and financial markets, in relation to the Investor’s capital. Many brokers have started including PAMM services as part of their offerings. To dive deeper into this, we’ve compiled a list of 5 of the best forex brokers for PAMM accounts.
- ThinkMarkets
ThinkMarkets is an FX broker which is regulated by the FCA, MIFID-ESMA, ASIC. The broker works on platforms such as Mirror Trader, MT4 Desktop, MT4 Web, Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms. The broker’s ThinkInvest money management program mimics the features and functionalities of a PAMM account. Additionally, the broker provides some of the best trading conditions in the market. It does not charge commission on markets that include currency trading, indices, commodities, and even crypto when using the PAMM account.
- FBS
FBS is a popular FX broker regulated by MIFID-ESMA, ASIC, FSCA, and CYSEC. It works on platforms such as MT4 Desktop, MT4 Web, MT5 Desktop, MT5 Web and MAC Platforms. The broker only started offering PAMM accounts in 2013. It provides flexibility with PAMM accounts in terms of depositing and controlling. FBS also provides top-quality range of research and market resources. However, its PAMM account is only available to those under IFSC regulatory oversight at the moment.
- AvaTrade
AvaTrade is a well known FX broker which is regulated by FSA, MIFID-ESMA, ASIC, IIROC, FSCA, and FSC (British) and works with platforms Mirror Trader, ZuluTrade, MT4 Web, MT5 Web, Proprietary Web Platform and MAC Platforms. The broker’s PAMM account allows you to use automated strategies, Expert Advisors and place large block orders with ease. The minimum trade for PAMM accounts is 1 micro-lot with all trades taking place through MT4. You are provided with a strong selection of every trading order available to use including stop losses, limit losses, trailing stops, and more.
- Pepperstone
It is one of the best brokers when it comes to hedging and scalping, Expert Advisors, and have some of the best execution speeds available. It works with cTrader desktop, cTrader web, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web and MAC Platforms. Pepperstone is regulated by FCA, MIFID-ESMA, ASIC, DFSA, and CYSEC. Through its PAMM account, you can control 100 sub accounts, and all with no delay or unexpected latency whatsoever via both MT4 and MT5.
- Axiory
Axiory is a FX and CFD broker established in 2011 and regulated by IFSC (Belize). It works on platforms such as MT4, MT5 and cTrader and allows a maximum leverage of 1:777. It offers five main account types including Nano Account, Standard Account, MAX Account, TERA Account and Alpha Account. It allows you to trade some of the biggest companies in the world and buy ETFs with its Alpha account. Deposit methods include Credit and Debit Card, Wire Transfer, Skrill, Neteller and STICPAY.
Conclusion
As more and more FX traders arrive on the market, traders are looking towards new measures to gain a trading advantage over others. The introduction of PAMM accounts is a result of this demand for more FX related services that can help traders achieve their long-term investment goals. The above 5 brokers are some of the very best in offering PAMM accounts to their clients.
