Top 10 Best PAMM Forex Brokers for 2020

Filippo Last Updated: August 2020 10 min read
Top Rated:

Are you looking for the best PAMM forex brokers because you don’t necessarily have the funds or knowledge to trade forex yourself, but still want to make a profit?

We can help you.

PAMM accounts brokers can come in all different shapes and sizes and even different names.

The key thing you should look out for is a trustworthy broker, one that has a good reputation, is regulated by a respected financial regulator and offers you a good amount of control over your funds when you want it as well as transparency.

Whichever pamm broker you decide to sign up with, ensure it is one you can trust.

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What’s a PAMM account?

Starting from the basics, PAMM stands for Percentage Allocation Money Management, and as the name would suggest, this is a type of managed account.

With the PAMM account, very simply, you make the deposit to your account as a trader, and this money and investment is then taken care of by a fund manager who will make the trades on your behalf with the hope of being profitable.

This is not done in isolation and your account could be one of hundreds of accounts managed within the operation. Profits and losses are then distributed equally according to the amount that you have invested from your account. All of these actions are completed by an assigned account manager and full transparency of operation to make sure you can see exactly what is going on.

Top 10 Best Forex Pamm Brokers Of 2020

Here’s our list of the best PAMM account forex brokers:

Open an account
74-89 % of retail CFD accounts lose money

1 IC Markets

If you’re looking to set up a PAMM account, IC Markets is the most highly recommended broker, with their PAMM/MAM service operating since 2012. IC Markets offer the most flexible allocation methods available today and produce real-time reports on performance and commissions, allowing PAMM account users to still feel in control of their funds. Money managers attached to the account will also be able to utilise some of the best Expert Advisors available.

As a trader here you will also benefit from some of the fastest ECN execution as well as the best value spreads around starting from 0pips on the RAW account. As with many PAMM accounts, there is a minimum trade inplace, but this is still a very accessible 1 micro lot (0.01 standard lots). All of the trading here is just one click away with the very best in transparency provided by the IC Markets account managers, and all trading taking place through the much trusted MT4 trading platform.

84
Rated: Excellent
security 95
cost 86
trading 74
education 80

Platforms: cTrader desktop, cTrader web, Mirror Trader, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web Regulations: ASIC, CYSEC, Offshore Minimum Deposit: $0
Open an account
78.6% of retail investor accounts lose money

2 Pepperstone

Pepperstone is perhaps one of the world’s best brokers of recent years. By signing up to a PAMM account with Pepperstone, you will be pleased to know that the money manager who trades your funds will not be held back in the slightest. Pepperstone is very liberal when it comes to using different trading strategies, such as hedging and scalping, Expert Advisors, and have some of the best execution speeds available.

Pepperstone allows for control of more than 100 sub accounts, and all with no delay or unexpected latency whatsoever. This is ideal for those looking to deal with multiple accounts as more experienced or high-volume traders. Both MT4 and MT5 are utilized for trading through this broker at maximum efficiency, and a minimum trade amount again of 1 micro lot is imposed, keeping Pepperstone very accessible to all.

80
Rated: Excellent
security 96
cost 72
trading 69
education 82

Platforms: cTrader desktop, cTrader web, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, ASIC, DFSA, Offshore Minimum Deposit:
Open an account
75.54% of retail investor accounts lose money

3 FxPro

Signing up for a PAMM account with FxPro is highly beneficial and is a great way to ensure your funds go far. Money managers can allocate funds in the way they feel is best, utilise Expert Advisors and receive comprehensive reports on their performance. But perhaps one of FxPro’s most tempting offerings is that it is possible to earn a rebate, which is quite unique, and could be a great incentive to trade more. When it comes to trading commissions, mark-up, and performance fees, these can be set by the individual money manager which provides some level of flexibility in the approach with FXPro.

PAMM accounts can also utilize EA’s fully to create the best possible trading situations, and a variety of different allocation methods can be implemented to ensure there is something suitable to all traders. Allocation can be based on proportional equity against balance, or as an equity percentage allocation.

76
Rated: Excellent
security 96
cost 51
trading 63
education 100

Platforms: cTrader desktop, cTrader web, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, MIFID-ESMA, FSB, CYSEC, Offshore Minimum Deposit:
Open an account
79% of retail investor accounts lose money

4 AvaTrade

PAMM account holders at AvaTrade and rest peacefully knowing that their money managers are well equipped to deal with almost any scenario. Money managers will be able to use automated strategies, Expert Advisors and place large block orders with ease. AvaTrade will even be able to create multiple trading sub-groups to implement different strategies. As a money manager with this top Irish broker, an unlimited number of accounts can also be managed, and with the flexibility to assign trades based on equity, lots, or percentage/balance.

To help you get started, a PAMM demo account is also available with Avatrade, perfect for those new to PAMM. The minimum trade here is the standard but still excellent value 1 micro-lot with all trades taking place through MT4 and a strong selection of every trading order available to use including stop losses, limit losses, trailing stops, and more.

80
Rated: Excellent
security 93
cost 74
trading 75
education 63

Platforms: Mirror Trader, ZuluTrade, MT4 Web, MT5 Web, Proprietary Web Platform, MAC Platforms Regulations: FSA, MIFID-ESMA, ASIC, IIROC, FSCA, Offshore, FSC (British) Minimum Deposit: 100
Open an account
74-89% of retail CFD accounts lose money

5 FP Markets

FP Markets are another top choice when it comes to the best PAMM broker around. They are of course a top Australian broker also and they have a huge wealth of experience in the industry, dealing with PAMM accounts in award winning fashion since 2005. These PAMM accounts, as with most of the others listed, make EAs available to use with both MAM and PAMM accounts meaning you can utilize a wide range of tools to bring success as a trader and account manager.

FP Markets also provide a selection of three different allocation methods you can choose from as a PAMM trader. This means you can allocate by lot, percentage of balance and provides a degree of welcome flexibility. As well as that, the FP Markets PAMM account brings with it no limits in terms of the number of accounts you can manage or the amount of money involved, ideal for high-volume traders.

77
Rated: Excellent
security 95
cost 62
trading 70
education 71

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Desktop Platform, MAC Platforms Regulations: ASIC Minimum Deposit: $200
Open an account
74-89% of retail CFD accounts lose money

6 Roboforex

RoboForex offers what it calls RAMM accounts, which stands for ‘Risk Allocation Management Model’. It operates just like any normal PAMM account, but they claim it is designed to reduce risk without decreasing profits. RoboForex stands out as a unique option for those who want to open a PAMM account but still want to retain some control over their funds.

Added to this and an attractive feature that may appeal to another broad range of traders is the fact you can access some copy trading features within the PAMM account making it even more innovative. At RoboForex, there is also no drawback or penalty applied for an investor who exits a certain strategy. All of these unique features, combined with trading through MT4 combine to make RoboForex a very popular PAMM trading account choice.

78
Rated: Excellent
security 95
cost 78
trading 59
education 83

Platforms: cTrader desktop, cTrader web, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Web Platform, MAC Platforms Regulations: MIFID-ESMA, CYSEC, Offshore Minimum Deposit: $10
Open an account
72.90% of retail investor accounts lose money

7 HotForex

Another top choice if you are searching for the best PAMM broker possible, is HotForex. They offer you a very flexible service and are a well-recognized major broker. Here you can manage multiple sub-accounts based on your needs and also avail of their service which can dynamically adjust the allocation method chosen depending on the sub-account equity. You should note that as a fund manager, your statistics would be publicly shown by the broker. This showcases their high levels of transparency.

If you want to get started with a HotForex PAMM account then you can quickly do so with a minimum deposit that starts from only $250. This is good value when it comes to PAMM accounts. Here you will also find a very low and accessible minimum trade size. This starts from just 0.01 lots and helps keep the option open to many who are seeking to open a good value PAMM account.

81
Rated: Excellent
security 96
cost 84
trading 58
education 100

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web Regulations: MIFID-ESMA, CYSEC, Offshore, FSC (Mauritius) Minimum Deposit:
Open an account
74-89% of retail CFD accounts lose money

8 FBS

FBS are known to be a great choice for newbie traders, also having an excellent cent account option. While FBS only started offering PAMM accounts in 2013 they are already one of the best out there today. FBS are also known to be a highly reliable choice for those who want to deposit and withdraw their funds quickly and easily. The broker provides flexibility with your PAMM account enough that you can simultaneously manage multiple client accounts in real time.

FBS also has a top-quality range of research and market resources available to ensure you are kept as up to date as possible as both a trader and PAMM account holder. Although FBS are regulated and operational around the world, the FBS PAMM account is only available to those under IFSC regulatory oversight at the moment.

74
Rated: Excellent
security 95
cost 72
trading 51
education 81

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: MIFID-ESMA, CYSEC, Offshore Minimum Deposit: $1
Open an account
83% of retail CFD accounts lose money

9 Dukascopy

Dukascopy is also included as a top PAMM account broker and choice with a range of options available. The Swiss broker actually provides for two different PAMM account types that you can choose. This high level of service is further supported by additional banking services that are offered by the company. The LP PAMM account is the first choice that requires a minimum deposit of $1,000 and in this case you can leave your funds entirely up to the Dukascopy bank who will manage their profitability. Within the Standard PAMM account, this is down to the operation of a money manager and includes MAM, PAMM, and LAMM account features and capabilities.

There is an excellent demo account available for you to get acquainted with the operation as well as the ability to manage an unlimited number of accounts when you do get started. The minimum trade amount required on your PAMM sub-accounts is one micro lot.

76
Rated: Excellent
security 97
cost 51
trading 69
education 82

Platforms: Mirror Trader, Proprietary Web Platform Regulations: FSA, FINMA, FCA, MIFID-ESMA Minimum Deposit: $100
Open an account
72.88% of retail CFD accounts lose money

10 Thinkmarkets

ThinkMarkets’ ThinkInvest money management program is their equivalent of a PAMM account and is definitely recommended. 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. Such choice and flexibility are a rare find, and this may be particularly attractive to those who also enjoy an element of social and copy trading.

Added to this transparency is the fact that ThinkMarkets provide some of the best trading conditions around and all with no commission charged on a huge range of exciting markets that include forex, indices, commodities, and even crypto with your PAMM account. This flexibility and selection have helped the broker maintain their role as a top choice especially for those who are new to PAMM accounts.

79
Rated: Excellent
security 96
cost 74
trading 58
education 100

Platforms: Mirror Trader, MT4 Dekstop, MT4 Web, Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC Minimum Deposit: $250

Who can be a Fund Manager?

So, now that you know all about brokers who offer the best PAMM accounts, how can you actually become a fund manager yourself?

Well, this is not an instant process of a guarantee. Generally, 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 this role. 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 have 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.


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