The best LAMM account Forex brokers are IC Markets, Roboforex, FXDD, and Grand Capital.
To choose the best LAMM account for Forex brokers, the availability of full LAMM services, the required minimum investment, transparency of trading strategies, and trading conditions such as spreads and platform tools are the most important criteria.
IC Markets is the best LAMM account Forex broker overall, with access to specialized account management software, MT4 and MT5 platforms, and raw spread Forex trading conditions.
Roboforex, FXDD, and Grand Capital follow IC Markets as the best LAMM account Forex brokers, for strategy visibility, low entry requirements, and quality execution. Roboforex LAMM account sets a $100 minimum investment, provides insights into strategy profitability, risk levels, and weekly returns. FXDD LAMM account offers over 60 forex pairs, a $200 minimum deposit, and spreads starting from 0.3 pips. Grand Capital offers LAMM accounts with a $10 minimum deposit, automatic trade copying, and detailed trader statistics.
What are the best LAMM Account Brokerages?
Below our curated list of the best Lamm account brokers, with details of features and characteristics.
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
IC Markets
IC Markets offers full LAMM services alongside MAM and PAMM options. IC Markets provides specialized software for varied account management. IC Markets ensures zero starting spreads in its services.
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About IC Markets
IC Markets is a global forex and CFD broker founded in 2007 and based in Sydney, Australia. IC Markets offers trading on over 2,250 instruments including currencies, commodities, indices, stocks, and cryptocurrencies. IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader platforms. IC Markets is regulated by multiple authorities including ASIC and CySEC. IC Markets is known for its ECN execution model and low spreads. The IC Markets CEO is Andrew Budzinski.
IC Markets Features
The features of IC Markets are listed below.
IC Markets is a well-known and respected broker around the industry. The broker is one of the most trusted choices that offer a LAMM service. Additionally, IC Markets also offers both MAM and PAMM allocation methods that are proportional by balance allocation and proportional by equity allocation. These actions are conducted through software the broker provides which allows for multiple variations of MAM, PAMM, or LAMM accounts.
With this diverse range of methods and software available, IC Markets is a popular choice with many investors who require a LAMM service. Spreads for the MAM/PAMM service start from 0 pips and the broker offers deep liquidity combined with fast order execution and EAs functionality.
IC Markets Pros and Cons
Advantages of IC Markets
The advantages of IC Markets are listed below.
- Low-latency trading environment
- Institutional level liquidity
- MT4, MT5, cTrader platforms are all available
Disadvantages of IC Markets
The disadvantages of IC Markets are listed below.
- Small amount of educational tools for new traders
- Small range of tradable assets compared to other CFD/Forex brokers
Roboforex
Roboforex sets a $100 minimum investment for LAMM accounts. Roboforex lists detailed strategies by profitability. Roboforex gives essential financial insights, including risk levels and weekly returns.
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About Roboforex
RoboForex is a global forex and CFD broker founded in 2009, offering trading on currencies, stocks, indices, commodities, and cryptocurrencies. RoboForex provides MetaTrader 4, MetaTrader 5, and proprietary platforms. RoboForex is regulated by the Financial Services Commission (FSC) of Belize. RoboForex is known for competitive spreads, extensive educational resources, and multiple account types. RoboForex serves over 4.5 million clients worldwide. The RoboForex CEO is Andrei Dziarnovich.
Roboforex Features
The features of Roboforex are listed below.
With a minimum investment of $100, RoboForex is one of the leading brokerages that offer a LAMM account. You are allowed to invest for a minimum of 1 week.
While trading with the account, you can earn money as an investor or a trader.
When selecting a trader, the broker shows you a list of strategies sorted by profitability along with the weekly average return, total return, risk level, return graph, total investors, the total amount of money invested, and total active time of the manager.
Roboforex Pros and Cons
Advantages of Roboforex
The advantages of Roboforex are listed below.
- Diverse Trading Platforms
- Wide Range of Instruments
- Low Minimum Deposit
Disadvantages of Roboforex
The disadvantages of Roboforex are listed below.
- Limited Educational Resources
- Higher Spreads on Some Accounts
- Regulatory Concerns
FXDD
FXDD enables access to over 60 currency pairs. FXDD requires a $200 deposit for LAMM services. FXDD starts spreads from 0.3 pips.
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About FXDD
FXDD is a global forex and CFD broker founded in 2002, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FXDD provides MetaTrader 4, MetaTrader 5, and a proprietary WebTrader platform. FXDD is regulated by multiple authorities including MFSA in Malta and FSC in Mauritius. FXDD is known for competitive spreads, fast execution, and extensive educational resources. FXDD offers various account types including ECN accounts. The FXDD CEO is Joseph Botkier.
FXDD Features
The features of FXDD are listed below.
FXDD is a brokerage that offers trading platforms on proprietary and MetaTrader platforms. Here, traders can have access to over 60 currency pairs if they can pay the minimum deposit amount of $200. Their membership also enables them to enjoy the platform’s spread starting from 0.3 pips.
FXDD Pros and Cons
Advantages of FXDD
The advantages of FXDD are listed below.
- Low Minimum Deposit
- Comprehensive Market Analysis
- VPS for Automated Trading
Disadvantages of FXDD
The disadvantages of FXDD are listed below.
- High Withdrawal Fees
- Steep Charges for Small Withdrawals
- Inactivity Fees
Grand Capital
Grand Capital displays extensive trader data for LAMM accounts. Grand Capital sets a low $10 deposit minimum. Grand Capital incorporates automatic trade copying across its platform.
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About Grand Capital
Grand Capital is an international forex and CFD broker established in 2006, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. Grand Capital provides MetaTrader 4, MetaTrader 5, and proprietary platforms. Grand Capital claims regulation by Finacom, but lacks recognized regulatory oversight. Grand Capital is known for low minimum deposits, diverse account types, and an affiliate program. Grand Capital offers copy trading and investment portfolios.
Grand Capital Features
The features of Grand Capital are listed below.
When looking for a manager on the platform, the broker will show you each trader’s history, profits, number of investors they manage, manager’s commission, and other helpful pieces of information.
The minimum deposit amount on this brokerage is $10, making the entry requirement affordable for all intending users.
The spread on GrandCapital starts from 0.4 pips and each new member is entitled to a $5 commission.
Trades are automatically copied so you don’t necessarily have to open the platform to trade and invest in indices, Forex, over 300 CFD assets, or stocks.
Grand Capital Pros and Cons
Advantages of Grand Capital
The advantages of Grand Capital are listed below.
- Low Spreads
- Fast Execution
- Fund Protection
Disadvantages of Grand Capital
The disadvantages of Grand Capital are listed below.
- Offshore Regulation
- High Fees
- Slow Support Service
What are the differences with other managed account types?
Managed forex accounts come in different forms, mainly including MAM (Multi Account Manager), PAMM (Percentage Allocation Management Module), and LAMM (Lot Allocation Management Module) accounts.
- MAM accounts allow a fund manager to manage multiple trading accounts from a single interface.
- PAMM accounts distribute gains, losses, and fees on an equal percentage basis.
- LAMM accounts allow investors to allocate different lot sizes for the fund manager to trade with, offering greater flexibility and control.
How to start trading with a LAMM trading account?
Starting to trade in the forex market with a LAMM account involves a few crucial steps.
- Choose a regulated forex broker who is overseen by a reputable regulatory body like the FCA, ASIC, or MAS.
- Verify if the broker offers a LAMM account by checking their offerings or refer to our Managed Forex Accounts list.
- Choose the fund manager to invest in. The broker will provide records and data about each fund manager to help you make an informed decision. Remember, you can hire more than one fund manager simultaneously for diversified forex trading strategies.
- Allocate your fund by checking the minimum deposit required by the broker and the fund manager. The fund manager can only access the money you’ve allocated for trading – withdrawal from your account is not available on the fund manager’s side. This provides a layer of security for your investment.
What are the pros and cons of using a LAMM account?
Pros
- You can choose the amount of lots
- You have more control on your exposure
- Invest in more fund managers to diversify your investments
Cons
- Your profits are highly dependant on the fund manager’s skill and experience
- LAMM account is hardly offered by highly regulated brokerages
How does risk management work with a LAMM account?
Risk management with a LAMM account revolves around the number of lots you decide to trade. By controlling the number of lots, you’re controlling your exposure to the market, and in turn, your potential profit or loss. For example, if you wish to limit your risk, you can opt to trade a smaller number of lots.
Moreover, you can manage risk by diversifying among several fund managers, each employing different trading strategies. This strategy allows you to spread your risk across various approaches, potentially increasing the chance of success. If one strategy underperforms, others might compensate for it. Regular monitoring and adjustment of your investment strategies also play a vital role in risk management within a LAMM account.