Where Can You Find the Best PAMM Accounts? You don’t have to trade alone when you want to make money on Forex. Use a PAMM account and sit back and watch your money increase. However, to do this, you should only register a PAMM account with a reliable broker. Traders Union analysts revealed the best PAMM accounts Forex brokers with the best potential for 2023 through their research.
This unique type of trading setup allows investors to allocate funds to a qualified trader or money manager, who manages these pooled funds across multiple trading accounts.
The money manager will receive a performance for fee for this service, which is a fixed percentage calculated on trading profits. The remaining profit/loss is distributed to investors according to the allocation percentage each has in the total pool of funds.
There are two main participants in the PAMM investment – the investor and the manager. The management personally establishes an account and deposits a specified sum (manager’s capital) therein, sharing it equally with his investors. The manager drafts an offer in which he specifies the conditions of collaboration and includes a profit cut as compensation for handling accounting. Additionally, the investor selects a PAMM account and invests after researching manager performance using an independent rating. If the trade is successful, the investor will make money, and some of that money will be given to the manager as compensation for their hard work.
After a comprehensive analysis of hundreds of Pamm accounts, Trader Union experts reveal the top 5. These are:
Other platforms provide the best PAMM accounts for both novice and experienced traders. For example, the LiteForex, now called Litefinance, ranks amongst the top 10 best PAMM accounts.
The LiteForex (LiteFinance) was established in 2005 and has risen through the ranks to become the top 8 of the best Pamm account providers. It is one of the largest and leading brokers in Malaysia. High-tech firm LiteForex (LiteFinance) Broker consistently provides advanced active and passive trading options.
The pros of a LiteForex account are:
LiteForex also has some drawbacks, these include:
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