10 Best PAMM Account Forex Brokers 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top PAMM brokers based on our analysis:
- 1
InstaForex - Best PAMM account - Large selection of trading instruments. PAMM accounts and the ForexCopy automatic trade copying service for passive income. 24/7 efficient customer support. - 2
Fibo Group - A wide selection of trading and investment accounts. Low spreads, which facilitates more profitable trading. A wide range of payment methods. - 3
Alpari - A wide range of trading accounts. Flexible conditions for depositing and withdrawing funds. Diversity of trading platforms. - 4
Gerchik & Co - Transparent information about the broker's owners. A large number of trading accounts. Decent services that can help improve Forex trading. - 5NordFX - Diversity of trading accounts and services. Tight spreads. Wide range of deposit and withdrawal methods.
With PAMM accounts, you can invest in the Forex market without doing any independent work. Instead, your money will be managed by an experienced trader or account manager who will make all trading decisions for you.
Forex Brokers PAMM Account List 2024
1. InstaForex
InstaForex is a popular broker that offers a wide range of trading instruments and specialized accounts. The unique possibility of accruing interest on the account balance, ForexCopy's automatic transaction copying service, and support for cryptocurrency trading make InstaForex an attractive choice for a variety of traders. Customer support is available round the clock, and account replenishment does not charge any commission, which is a significant plus.
InstaForex is suitable for beginner traders and investors interested in passive income through PAMM accounts, as well as for those looking for innovative features such as cryptocurrency trading and automatic trade copying.
Pros and Cons of InstaForex
Pros
- Large selection of trading instruments.
- PAMM accounts and the ForexCopy automatic trade copying service for passive income.
- 24/7 efficient customer support.
- Wide range of methods for depositing and withdrawing funds.
- Decent analytical section.
Cons
- Trading commissions are above average.
- No trading accounts with market execution of orders (ECN or STP).
- Broker commission on fund withdrawals.
2. FIBO Group
FIBO Group is suitable for various types of traders, including beginners and experienced ones. The broad selection of accounts and trading platforms allows every trader to find an appropriate solution. Additionally, educational materials and analytics will aid in skill development and making informed trading decisions.
The broker offers competitive trading conditions, various instruments, and robust support. However, fees and the absence of certain assets may limit its potential.
Pros and Cons of Fibo Group
Pros
- A wide selection of trading and investment accounts.
- Low spreads, which facilitates more profitable trading.
- A wide range of payment methods.
- Availability of various trading platforms.
- Comprehensive analytics and educational materials.
Cons
- An inactivity fee.
- Withdrawal fees.
- The absence of stocks and ETFs in the range of instruments.
3. Alpari
Alpari has established itself as a stable and reliable broker, providing its services on Forex for over 20 years. The broker is widely popular among professional traders due to its wide range of trading accounts and instruments and convenient and practical services for investing—PAMM accounts and portfolios. Beginning traders will find quality support, training courses, and favorable trading conditions at Alpari.
Overall, Alpari is an excellent choice for beginners and professional traders.
Pros and Cons of Alpari
Pros
- A wide range of trading accounts.
- Flexible conditions for depositing and withdrawing funds.
- Diversity of trading platforms.
Cons
- Licensing in the Comoros does not provide the same level of investor protection as in countries with stricter regulators.
- Fees for fund withdrawal and inactivity charges.
- Limited choice in terms of different asset classes.
4. Gerchik & Co
Gerchik & Co. serves as a commendable platform for traders of all levels. The wide array of trading instruments and platforms makes this broker attractive to novices and seasoned traders.
The educational materials provided by the broker can be particularly beneficial for beginners and those looking to deepen their knowledge. In addition, the broker offers a variety of technical support communication options, which can be valuable for traders requiring immediate assistance.
This broker is suitable for novice and experienced traders due to its comprehensive approach and attention to detail regarding trading and education.
Pros and Cons of Gerchik & Co
Pros
- Transparent information about the broker's owners.
- A large number of trading accounts.
- Decent services that can help improve Forex trading.
- Educational courses, webinars, analytics.
- Opportunity for passive income on TIMA accounts.
- Contests on demo accounts and broker promotions.
Cons
- High commission for transactions on certain types of accounts.
- The website and personal account area may seem inconvenient (according to reviews).
- High deposit requirements for training or using services.
5. NordFX
NordFX is a broker with various trading accounts and conditions, making it attractive for different categories of traders — from beginners to professionals. Tight spreads and analytical tools are backed by good technical support, which is a significant plus.
NordFX is suitable for traders who prefer to use MetaTrader 4 and who do not require a wide range of CFDs or alternative trading platforms. This broker is perfect for those seeking diverse market analysis options and personalized support.
Pros and Cons of NordFX
Pros
- Diversity of trading accounts and services.
- Tight spreads.
- Wide range of deposit and withdrawal methods.
- Extensive set of analytical tools.
- Good customer support.
Cons
- Lack of regulation.
- High commission on Zero account.
- Long withdrawal request processing time.
- Lack of soft commodities and limited overall number of CFDs.
- There are no alternatives to MT4.
How the list of the best Forex brokers with PAMM accounts is compiled
The list of PAMM brokers accounts has been compiled considering the following criteria and methodologies:
The foremost criterion for a broker to be included in the list is the ability to open or invest in a PAMM account with the broker.
The position of each broker in our list is based on our Forex brokers ranking, developed by our team.
All brokers in the list are evaluated by our unique methodology. This includes analysis of the broker's market experience, regulation status, quality of transaction execution, working conditions, and reviews from real clients.
We hope that our list will assist you in finding a reliable and suitable broker for working with PAMM accounts who matches your investment goals and preferences.
FAQ
How does a PAMM account work?
A PAMM account (Percent Allocation Management Module) is an investment account that allows investors to earn money on Forex by entrusting their funds to a professional trader. Here’s how it works:
- Investor chooses a managing trader: The investor selects a trader to manage their funds. This is usually done through the platform of a broker offering PAMM accounts.
- Funds are pooled into a single account: The funds of multiple investors are combined into a single account managed by the selected trader.
- Trader executes trades: The managing trader uses the pooled account to trade on Forex, aiming to increase the capital.
- Profit and loss distribution: Profits and losses from trading activities are distributed among investors proportionally to their contributions.
- Trader's remuneration: The trader receives a management fee, typically a percentage of the profit earned on the PAMM account.
PAMM accounts provide investors the opportunity to earn income from Forex trading without the need to trade themselves, leveraging the experience and skills of professional traders.
Who are PAMM Forex brokers?
PAMM Forex brokers provide account management platforms where experienced traders manage investors' funds. Investors invest money and the managing trader trades on their behalf, sharing profits or losses according to the invested share.
How to open a PAMM account?
To open a PAMM account, follow these steps:
- Choose a broker: Find and select a reliable Forex broker that offers PAMM accounts. Pay attention to the broker's reputation, service conditions, and regulatory bodies.
- Register: Complete the registration process on the broker's website by filling out the necessary forms and providing required documents for identity verification.
- Open a PAMM account: After registration, log in to your account and choose the option to open a PAMM account. Follow the broker’s instructions to create the account.
- Select a managing trader: Browse the list of available managing traders, review their trading history and performance, and select one that aligns with your investment goals and risk tolerance.
- Invest funds: Transfer the desired amount to the PAMM account. The funds will be pooled with other investors' contributions and managed by the chosen trader.
- Monitor and manage: Track the trading results and management of your PAMM account through the broker’s platform. You can add or withdraw funds according to the broker’s and chosen trader’s terms.
Opening a PAMM account is a convenient way to invest in Forex and earn profits by relying on professional traders to manage your funds.
How to choose the best PAMM account for investment?
To choose the best PAMM account for investment, evaluate the performance of the managing trader, his experience, strategy, and risk level. Pay attention to the profitability history and profit distribution between the trader and investors.
