The best PAMM account Forex brokers, according to our research, are:
- Pepperstone
- FxPro
- AvaTrade
- FP Markets
- HF Markets
- FBS
- Fibo Group
- BDSwiss
- Dukascopy
- Thinkmarkets
To compile this ranking and select only the best PAMM account brokers, we have taken into consideration the following factors:
- The PAMM account features
- The trading platforms for the PAMM account
- The overall broker quality
- The minimum deposit required
Round-up
| PAMM forex brokers | PAMM platform | PAMM account minimum deposit |
|---|---|---|
| Pepperstone | MT4, MT5 | $100 |
| FxPro | MT4, MT5, cTrader | $500 |
| AvaTrade | MT5 | $100 |
| FP Markets | MT4 | $0 |
| HF Markets | MT4 | $250 |
| FBS | MT4 | $0 |
| Fibo Group | MT4 | $0 |
| BDSwiss | MT4 | $0 |
| Dukascopy | MT4 | $0 |
| ThinkMarkets | MT4 | $0 |
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.
What are the best PAMM forex brokers?
Below our curated list and review of the best PAMM accounts offered by major forex brokers, with details of features and characteristics.
Pepperstone
Pepperstone offers PAMM accounts that enable hedging and scalping with EAs. Pepperstone supports over 100 sub-accounts on MT4 or MT5. Pepperstone requires a minimum trade amount of 1 micro lot.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About Pepperstone
Pepperstone is a global forex and CFD broker founded in 2010 in Melbourne, Australia. Pepperstone offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader and cTrader platforms. Pepperstone is regulated by multiple authorities including ASIC, FCA, and CySEC. Pepperstone is known for competitive spreads, fast execution, and extensive educational resources. Pepperstone serves clients in over 160 countries worldwide. The Pepperstone CEO is Tamas Szabo.
Pepperstone Features
The features of Pepperstone are listed below.
- With the Pepperstone PAMM account you can engage in hedging and scalping, as well as using EAs.
- Pepperstone’s PAMM service provides one of the best execution speeds available.
- PAMM Fund Managers at Pepperstone can control more than 100 sub-accounts on MT4 or MT5.
- The minimum trade amount with the Pepperstone PAMM account is 1 micro lot.
Pepperstone Pros and Cons
Advantages of Pepperstone
The advantages of Pepperstone are listed below.
- Stable raw spreads (0,09 pips on EUR/USD on average)
- Caters for algorithmic trading
- Has won over 30 Forex industry awards
Disadvantages of Pepperstone
The disadvantages of Pepperstone are listed below.
- The demo account is not unlimited
FxPro
FxPro enables PAMM accounts with Expert Advisors and comprehensive performance reports. FxPro allows setting of mark-ups and performance fees by money managers. FxPro offers various allocation methods.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About FxPro
FxPro is a global online broker founded in 2006, offering trading on forex, CFDs, stocks, indices, commodities, and cryptocurrencies. FxPro provides multiple trading platforms including MetaTrader 4, MetaTrader 5, cTrader, and its proprietary FxPro Platform. FxPro is regulated by multiple authorities including FCA, CySEC, SCB, FSC and KNN. FxPro serves clients in over 170 countries and has won numerous industry awards. The FxPro CEO is Charalambos Psimolophitis.
FxPro Features
The features of FxPro are listed below.
- With the FxPro’s PAMM account you can utilize Expert Advisors and receive comprehensive reports on the performances.
- A rebate can be earned when using the FxPro’s PAMM account.
- The mark-up and the performance fees can be set by the individual PAMM money manager.
- PAMM accounts at FxPro provide a number of different allocation methods, including proportional equity against balance, or as an equity percentage allocation.
FxPro Pros and Cons
Advantages of FxPro
The advantages of FxPro are listed below.
- Regulated and Trusted Forex broker
- Diverse Trading Platforms
- Wide Range of Instruments
Disadvantages of FxPro
The disadvantages of FxPro are listed below.
- Inactivity Fee
- Limited Educational Resources
- No Guaranteed Stop-Loss Orders
AvaTrade
AvaTrade uses PAMM accounts for automated strategies and multiple trading sub-groups. AvaTrade allows managing unlimited sub-accounts. AvaTrade provides flexibility for trade assignments.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About AvaTrade
AvaTrade is a global forex and CFD broker founded in 2006 and headquartered in Dublin, Ireland. AvaTrade offers trading on currencies, commodities, indices, stocks, bonds, ETFs, and cryptocurrencies. AvaTrade provides proprietary platforms alongside MetaTrader 4 and 5. AvaTrade is regulated by multiple authorities including CySEC, ASIC, and FSA. AvaTrade serves over 300,000 clients worldwide. AvaTrade is known for competitive spreads and extensive educational resources. The AvaTrade CEO is David Dryzin since 2016.
AvaTrade Features
The features of AvaTrade are listed below.
- AvaTrade allows PAMM money managers to use automated strategies and EAs.
- With the AvaTrade PAMM account, money managers can create multiple trading sub-groups to implement different strategies.
- AvaTrade on the PAMM account allows traders to manage an unlimited number of sub-accounts.
- With the PAMM account offered, AvaTrade provides good flexibility as it allows to assign trades based on equity, lots, or percentage/balance.
- AvaTrade’s PAMM account is available on MT5, and the minimum trade size here starts at 1 micro-lot.
AvaTrade Pros and Cons
Advantages of AvaTrade
The advantages of AvaTrade are listed below.
- Tight fixed spreads from 0.6 pips (0.9 pips for retail traders)
- The mobile apps are well designed
- Can be connected to ZuluTrade and Duplitrade
Disadvantages of AvaTrade
The disadvantages of AvaTrade are listed below.
- High inactivity fees
- The demo account is limited to 30 days
FP Markets
FP Markets offers PAMM accounts with three allocation methods. FP Markets supports EAs and unlimited account management. FP Markets provides various investment methods.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About FP Markets
FP Markets is an Australian-based global forex and CFD broker founded in 2005. FP Markets offers trading on over 10,000 instruments including forex, stocks, indices, commodities, and cryptocurrencies. FP Markets provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FP Markets is regulated by multiple authorities including ASIC, CySEC, and FSA. FP Markets is known for tight spreads, fast execution, and extensive educational resources. The FP Markets CEO is Craig Allison.
FP Markets Features
The features of FP Markets are listed below.
- FP Markets makes available a number of managed forex accounts, including a PAMM account.
- With the FP Markets PAMM account you can use EAs.
- FP Markets offers three different allocation methods on the PAMM account. These are, by lot, by percentage, and by balance.
- FP Markets allows managing of an unlimited number of accounts with the PAMM account.
FP Markets Pros and Cons
Advantages of FP Markets
The advantages of FP Markets are listed below.
- Broad Instrument Offering
- Competitive Spreads
- Multiple Trading Platforms
Disadvantages of FP Markets
The disadvantages of FP Markets are listed below.
- High Fees for International Withdrawals
- Outdated Platform Design
HF Markets
HF Markets manages multiple PAMM sub-accounts and dynamically adjusts allocations. HF Markets displays managers’ statistics publicly. HF Markets sets a minimum deposit of $250 for PAMM accounts.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About HF Markets
HF Markets, formerly known as HotForex, is a global multi-asset broker founded in 2010. HF Markets offers trading on forex, stocks, commodities, indices, and cryptocurrencies through MetaTrader platforms. HF Markets is regulated by multiple authorities including CySEC, FCA, DFSA, and FSCA. HF Markets serves clients worldwide and is known for competitive trading conditions and extensive educational resources. HF Markets recently rebranded to emphasize its expanded product range. The HF Markets Group CEO is George Koumantaris.
HF Markets Features
The features of HF Markets are listed below.
- At HF Markets you manage multiple PAMM sub-accounts based on your needs.
- The allocation methods with the PAMM HF Markets account can be dynamically adjusted depending on the sub-account equity.
- PAMM fund managers’ statistics are publicly shown by HF Markets.
- The minimum deposit to open a HF Markets PAMM account is $250.
HF Markets Pros and Cons
Advantages of HF Markets
The advantages of HF Markets are listed below.
- High Leverage Options
- Low Minimum Deposit
- Wide Range of Trading Instruments
Disadvantages of HF Markets
The disadvantages of HF Markets are listed below.
- Higher Trading Costs
- Limited Educational Resources
FBS
FBS offers PAMM accounts with high-quality research resources. FBS sets a minimum lot size of 1 micro lot. FBS restricts PAMM services in the European Union.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About FBS
FBS is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FBS provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FBS is regulated by multiple authorities including CySEC, ASIC, and IFSC. FBS serves over 27 million clients in 150+ countries. FBS is known for low minimum deposits, extensive educational resources, and copy trading services.
FBS Features
The features of FBS are listed below.
- The FBS PAMM account provides a top-quality range of research and market resources.
- The PAMM account offered by FBS is not available in the European Union.
- The minimum lot size for the FBS PAMM account is 1 micro lot.
FBS Pros and Cons
Advantages of FBS
The advantages of FBS are listed below.
- Low minimum deposit
- User-Friendly Platforms
- 90 international awards
Disadvantages of FBS
The disadvantages of FBS are listed below.
- Limited Financial Instruments
Fibo Group
Fibo Group allows unlimited sub-accounts with PAMM. Fibo Group enables fund managers to set investment terms. Fibo Group publicly displays PAMM managers’ performance.
-
Regulations:
-
Platforms:
About Fibo Group
FIBO Group is one of the oldest brokers, offering forex and CFD trading since 1998. FIBO Group provides various trading platforms including MetaTrader 4, MetaTrader 5, and cTrader, and is regulated by the Financial Services Commission (FSC). FIBO Group has offices across Europe, Central, and East Asia, and offers multi-language support, along with various deposit and withdrawal options.
Fibo Group Features
The features of Fibo Group are listed below.
- Fibo Group offers a PAMM account that allows you to manage an unlimited number of sub-accounts.
- Fibo Group allows the fund manager to set both the minimum amount and the investment terms.
- On the Fibo Group website, it will be possible to publicly view the performance of different PAMM fund managers.
Fibo Group Pros and Cons
Advantages of Fibo Group
The advantages of Fibo Group are listed below.
- Multiple Trading Platforms
- 24/7 Customer Support
- Global Regulation
Disadvantages of Fibo Group
The disadvantages of Fibo Group are listed below.
- PAMM Withdrawal Fees
- Limited Promotions
- High Initial Deposits
BDSwiss
BDSwiss provides diverse PAMM account types. BDSwiss lets managers determine deposit minimums and trading strategies. BDSwiss applies flexible penalty fees for early withdrawals.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About BDSwiss
BDSwiss is a global forex and CFD broker established in 2012, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. BDSwiss provides MetaTrader 4, MetaTrader 5, and proprietary platforms. BDSwiss is regulated by multiple authorities including CySEC and FSC. BDSwiss is known for competitive spreads, fast execution, and extensive educational resources. BDSwiss serves over 1.6 million registered traders worldwide.
BDSwiss Features
The features of BDSwiss are listed below.
- BDSwiss offers PAMM accounts that provide an appealing range of PAMM account types.
- The BDSwiss account managers decide their own minimum deposit, strategy name, penalty fee, trading period, PAMM account type, and leverage amount.
- At BDSwiss a variable penalty fee is applied when an investor withdraws any amount before the end of the trading period.
BDSwiss Pros and Cons
Advantages of BDSwiss
The advantages of BDSwiss are listed below.
- Extensive Symbol Offering
- MetaTrader Integration
- Regulatory Compliance
Disadvantages of BDSwiss
The disadvantages of BDSwiss are listed below.
- High Inactivity Fee
- Basic Proprietary Platform
Dukascopy
Dukascopy offers two types of PAMM accounts: LP and Standard. Dukascopy sets a minimum of $1,000 for LP accounts. Dukascopy supports unlimited accounts in PAMM.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About Dukascopy
Dukascopy is a Swiss online bank founded in 2004, offering forex, CFD, and options trading through its proprietary platform, aling with standard banking services such as e-banking and credit cards. Dukascopy is regulated by FINMA, Dukascopy emphasizes advanced technology and competitive trading conditions. Dukascopy CEOs are Dr. Andre Duka and Veronika Duka, who are the founding shareholders.
Dukascopy Features
The features of Dukascopy are listed below.
- Dukascopy offers two different PAMM account types.
- The Dukascopy LP PAMM account requires a minimum deposit of $1,000 and the sub-accounts money is managed by Dukascopy bank.
- The Dukascopy Standard PAMM account does not have a minimum deposit, and it works by letting other traders manage your funds.
- With the Dukascopy PAMM accounts you can manage an unlimited number of accounts.
Dukascopy Pros and Cons
Advantages of Dukascopy
The advantages of Dukascopy are listed below.
- Regulated Security
- Competitive Trading Conditions
- Diverse Asset Range
Disadvantages of Dukascopy
The disadvantages of Dukascopy are listed below.
- Limited Educational Resources
- Withdrawal Fees
- Inactivity Fees
Thinkmarkets
Thinkmarkets features a PAMM account named “ThinkInvest”. Thinkmarkets ranks money managers by performance. Thinkmarkets charges low commissions on various markets.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About Thinkmarkets
ThinkMarkets is a global multi-asset broker founded in 2010, offering trading on over 4,000 instruments including forex, stocks, indices, commodities, cryptocurrencies, and ETFs. ThinkMarkets provides the proprietary ThinkTrader platform alongside MetaTrader 4 and 5. ThinkMarkets is regulated by multiple authorities including ASIC, FCA, and CySEC. ThinkMarkets is known for tight spreads, fast execution, and extensive educational resources. ThinkMarkets offers 24/7 customer support in over 20 languages. The ThinkMarkets CEO and co-founder is Nauman Anees.
Thinkmarkets Features
The features of Thinkmarkets are listed below.
- Thinkmarkets offers a PAMM account called “ThinkInvest”.
- ThinkInvest ranks money managers by their performance on a leader board and users are able to choose the money manager they want for their account.
- Thinkmarkets PAMM account charges low commissions on a wide range of markets.
Thinkmarkets Pros and Cons
Advantages of Thinkmarkets
The advantages of Thinkmarkets are listed below.
- Regulatory Compliance
- Diverse Trading Options
- Advanced Trading Tools
Disadvantages of Thinkmarkets
The disadvantages of Thinkmarkets are listed below.
- Average Educational Resources
- Fees on Certain Accounts
What is a PAMM account in Forex?
A PAMM (Percentage Allocation Management Module, also know as Percentage Allocation Money Management) account is a type of investment service in the field of online and forex trading. This service allows investors to mimic the financial operations of professional forex traders and potentially earn an income without actively participating in the trading process.
A PAMM Forex broker is a brokerage that offers Percentage Allocation Management Module (PAMM) accounts as part of its services. These brokers provide a platform where forex investors can invest their funds in PAMM accounts managed by experienced forex traders, also known as PAMM managers.
A PAMM account is managed by an experienced trader, also known as a PAMM manager. This trader trades their own money along with the funds of their investors, on the same trading account. The profits or losses are divided among the users, according to their investments.
Investors choose a PAMM manager based on their trading performance, risk profile, and other factors. Once they’ve made their choice, they allocate a specific amount of money to the PAMM account. This doesn’t grant the manager access to the investor’s funds beyond the ability to trade with them. The investor’s funds stay in their own account, and the PAMM account manager cannot withdraw or deposit money into the investor’s account.
The manager’s compensation is usually a pre-agreed percentage of the profits they generate. This incentive system encourages PAMM managers to trade client funds carefully and responsibly.
PAMM accounts offer benefits to both traders and investors. Traders get the opportunity to manage greater capital than their own, earn a pre-agreed percentage of profits, and build their reputation within the forex community. Investors, on the other hand, get access to experienced traders, a chance to diversify their portfolios, real-time performance transparency, and control over their funds. They also enjoy the flexibility of adding or withdrawing funds at certain intervals.
However, despite these advantages, profits are not guaranteed in PAMM accounts. Forex trading is inherently risky and unpredictable, and even skilled traders can experience losses. Therefore, due diligence is essential before investing in a PAMM account.
How does a PAMM account work?
Here’s a step-by-step explanation of how a PAMM account works:
- Creation of the PAMM Account: A professional trader or money manager sets up a PAMM account with a broker that offers this service. The manager usually invests some of their own money to provide assurance to potential investors of their commitment and belief in their trading strategy.
- Investor Participation: Investors, interested in the forex market but not willing or able to trade themselves, choose a PAMM manager based on their performance record, trading strategy, risk profile, and other factors. They then allocate a specific portion of their funds to the PAMM account. The money remains in the investor’s account, but is virtually pooled with funds from the PAMM manager and other investors for trading purposes.
- Trading: The PAMM manager trades on the Forex market using the pooled funds. All trades made by the PAMM manager are automatically replicated in the investors’ accounts, proportionate to their investment.
- Profit and Loss Allocation: Profits and losses from the trades are distributed among the PAMM manager and the investors, according to their share in the pooled fund.
- Manager Compensation: The PAMM manager is compensated by taking a pre-agreed percentage of the profits as their fee. If there are no profits, the manager doesn’t receive this fee.
- Reporting and Monitoring: Investors can monitor the performance of the PAMM account, including their share of profits or losses, through regular reports provided by the broker.
What does a PAMM Forex Broker do?
PAMM forex brokers are responsible for the following:
- Providing the trading platform where PAMM managers can execute trades.
- Ensuring that the profits and losses are accurately allocated among the investors according to their share in the PAMM account.
- Offering support and customer service to both the PAMM managers and the investors.
- Implementing safety measures to protect investors’ funds, such as ensuring that PAMM managers cannot withdraw investor funds from the account.
- Enabling investors to monitor the performance of the PAMM accounts, including key metrics such as profit and loss, risk level, and trading history.
Essentially, a PAMM Forex broker acts as an intermediary between investors and PAMM managers. They play an essential role in enabling investors who may not have the skills, time, or inclination to trade forex on their own to still potentially profit from the forex market.
How to withdraw your funds from a PAMM account
PAMM systems are generally designed with periodic withdrawal windows. This means that there are specific times when you can withdraw your funds.
However, the exact withdrawal process can vary. It heavily depends on the rules set by the account provider. Some brokerages might allow you to pull out your money anytime, offering flexibility. In contrast, others might have strict rules with specific times or conditions for withdrawals.
The most crucial piece of advice is always to check the rules of the PAMM account provider before you invest. Knowing these rules ahead of time ensures that you’re not caught off guard when you want to access your funds.
What are the benefits of PAMM accounts?
PAMM accounts are appealing to both traders (or PAMM managers) and investors for several reasons.
For Traders/PAMM Managers:
- Increased Capital: PAMM managers can trade with more capital than they personally have, as they are managing the pooled money from several investors. This increased capital can potentially lead to greater profits.
- Profit Sharing: Managers earn a pre-agreed percentage of the profits they generate for investors. This can be a significant source of income, especially when the manager is successful and manages large investment funds.
- Reputation Building: Successful PAMM managers can build a strong reputation within the forex community, which can help attract more investors.
For Investors:
- Access to Experienced Traders: PAMM accounts provide an opportunity for investors to potentially profit from the forex market, even if they lack the experience, time, or skills to trade themselves. They can benefit from the skills of professional traders who manage these accounts.
- Diversification: By investing in PAMM accounts, investors can diversify their investment portfolios. This could potentially help mitigate risk, especially if they have other investments in different asset classes.
- Transparency and Control: Investors can monitor the performance of their PAMM account in real-time, which provides transparency. They also maintain control over their funds – PAMM managers cannot deposit or withdraw from the investors’ accounts.
- Flexibility: Investors can add or withdraw funds from a PAMM account at certain intervals, which provides flexibility in managing their investments.
Are profits guaranteed by investing in a Pamm account?
Profits are not guaranteed when investing in a PAMM account. While PAMM accounts can provide access to the skills and experience of seasoned traders, they cannot guarantee profits.
This is because forex trading is inherently risky and unpredictable, affected by numerous factors including economic data, geopolitical events, and market sentiment among others. Even the most skilled and experienced traders can have losing trades. Therefore, an investor’s capital is always at risk when participating in forex trading, including via a PAMM account.
It’s also worth noting that past performance of a PAMM manager is not an indicator of future results. A manager who has done well in the past could still incur losses in the future.
As a result, it’s crucial for investors to do their due diligence before investing in a PAMM account.
Who can be a Fund Manager for a PAMM account?
Since you will be trusted to manage the money of others, there is a process to go through whereby you have to prove your ability to perform. Experience plays a vital role in this.
While acknowledging that every broker has their own criteria, generally speaking, you will require the following as a minimum in terms of experience:
- At least 3 years experience with trading
- You are a licenced fund manager
- You are a fund manager that has been working with other institutional bodies (brokers, banks, etc)
- A qualified professional trader (according to ESMA requirements)
If you meet most, or all of these requirements then there is a good chance that you may be accepted as a fund manager to trade within one of the brokers listed above.