Hi,
I’d like to open a pamm account. As trader (with a friend) and also as investissor.
I saw these brokers offer PAMM accounts :
Alpari, FXopen, Instaforex, Dukascopy, Oanda…
Where should I go and why? Are some better than others? More choice, less fees, … ?
Hello, I think you should consider many features before to open a PAMM account, I am using one since a while and its really profitable and cool for a busy or lazy person ) you can just sit down and watch your money grow while handled by pro traders … you can open a managed account with a decent company, as for me I have been using hotforex for their PAMM and profits are not bad for the moment even if I did not deposit much.
there is like 4 of us traders who are planning on opening a joint account to join, tho i do not know much about pamm accounts but I like the statistics of this one. best of luck
yes I do, I did not try other brokers pamm accounts but after reading the reviews and comparing the features, I think hotforex’s pamm account is pretty decent and the profits are always good ) and yeah there are choices … you can choose under which trader you would trade or in other words under which trader will handle your investment.
If you are trader, you must choose service where are many investors. Look at Zulutrade or Alpari. You can see results of Alpari and Zulu traders on pammin.com Some of them have more then 4000 real investors and 1 000 000 $. They have big motivation to provide stability profit. I am investor and my ROI ~ 35%, DD ~ 20%.
One aspect you may want to consider with PAMM accounts is the legal requirements which are attached to this account type. By opening a PAMM account you become a Money Manager, and thus you are controlling clients money. This is very different to the likes of Zulutrade or providing trade copy EA’s.
When you become a Money Manager you can not just simply open a PAMM account and expect to get away with it in the long term. Depending on your country or residence you will require certain qualifications, memberships to financial regulators (such as FSA in the UK). Be careful though, the fines are heavy if caught without the required paperwork - even though foreign PAMM providers will open an account for you without even asking for this paperwork. When your clients sue you for losing their funds, it’s not the brokers fault, it’s yours - the Money Manager of the account in question.
Essentially, a PAMM account is what the big traders use in the city so that their clients can invest in the funds. Do you really think they have no industry recognized qualifications and are not on the register of a financial regulator. You bet they are!!
I agree with Jezode’s comment and explanation…to be a money manager requires qualifications and practice and record of trading. I mean professionalism here equals profitability, lets nor forget that.
PAMM accounts are a variation from the traditional model, where one with a smaller account (or virtual for that matter) plays to be a manager…lets not confuse the real thing are very different. . :58:
zulutrade is a good option on two major points - 1) it is regulated 2) you get the trades but your account management is totally up to the follower - meaning that you get to protect yourself against adverse trading conditions. in a way you get both from all words
I have been comparing Alpari PAMM site with Hot Forex PAMM and conclude that Hot Forex is so much more transparent and easy to understand for newbies like me. going to open an account.
zulu trade is a joke. anyone can open a demo account and say hey look at me i have 10 years experience in forex, invest in me. then they do stupid things and blow peoples money. they even get commission for losing trades lol. its win-win for the signal provider. not a fair system.
I think you should compare to zulutrade! You will find a great amazing service there.
you have access to your account + you have others to trade for you!
Not exactly! I would say that their record that they will eventually have with zulutrade will be eventually measurement of how and if followers will follow him. Afterall, popularity and followers are what the SPs are for when joining zulutrade.
So, your point exactly is?
Yeah there are some traders that crash, but look at those that are pipping profits and turn that in your advantage :59: come on, it is not quantum physics to do that xaxaxa