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PAMM recommendation

sd59
Oct 18 2012 at 16:09
14 posts
Hi All,

Can anybody recommend a PAMM account (or a few) that has traded profitably medium term?

thanks
DrVodka
Oct 18 2012 at 23:59
297 posts
Gary Sharp myfxpt com
myfxpt
Oct 19 2012 at 04:27
345 posts
Notice how hard it is to find a fully regulated broker, within a credible legal jurisdiction, offering PAMM? From Central America to Mauritius and Cyprus, but few and far between in Australia, England, Europe, and the USA. This worries me because there is little protection if a particular broker gets into financial difficulty...what's the point of making a good return if you can't get your hands on your money?

If you carry out any form of Due Dilligence you should be able to 'confirm' licensing and approval with local financial authorities, confirm the safety of client funds, the ease with which you can lodge a complaint with the local regulator, and of far greater importance, being able to confirm that the local regulator will actually take action on behalf of clients if something goes wrong, e.g. Hot Forex makes a range of claims regarding being licensed, regulated, and segregated client funds, but after 3 communications with the FSC of Mauritius, and 2 communications to both the State Bank of Mauritius and Barclays Mauritius, with the aim of confirming claims made, I have received not a single reply. Imagine if something went wrong and I was depending on the FSC to help me?

Due dilligence must come first!
sd59
Oct 19 2012 at 09:27
14 posts
Thanks for the replies and advice guys. I guess the other main question for me is do you know a good consistent trader managing a PAMM or MAM account? I know I can go and look at performance figures on broker's web sites but this isn't the same as a recommendation from 'real' people. Any suggestions appreciated.
Vlad (Mars30)
Oct 19 2012 at 10:45
155 posts
Hi, guys!

I will say a few words about PAMM at 'Insta Forex'.
they offer a bonus 30% to add, when you deposit main amount.
(but the broker has the right to cancel the bonus at any time, without notice and explanation of the cause withdrawal)
PAMM-trader has not seen on his account, what part of his investment in the funds is a bonus).

for example:
PAMM-trader has $ 1,000.
investor invested $ 5,000
so PAMM-investor has $ 6000 on his account (own money + investment)
but let's say that the $ 5000 (investor's), it is the rest of a certain amount (and they include $ 4,000 bonus money.)

what we get:
PAMM-trader has $ 6,000 in the account, but $ 4,000 of which is a bonus.
that means: when a trader's open position (order) and will receive a $ 2,000 drawdown, a broker at any time have the right, annul/cancel bonus, and as a consequence automatically close all positions in the account in the PAMM trader!

PAMM Traders do not even understand why triggered 'margin calls'😉

😄😎
James_Bond
Oct 19 2012 at 16:35
556 posts
sd59 posted:
Hi All,

Can anybody recommend a PAMM account (or a few) that has traded profitably medium term?

thanks

This is probably the worst question to ask here where there are thousands of traders trying to find investors, so don't expect to actually get a straight answer 😉.
Masterze (mliriprowofx)
Oct 19 2012 at 21:47
4 posts
sd59 posted:
Hi All,

Can anybody recommend a PAMM account (or a few) that has traded profitably medium term?

thanks

Forexcopy recomendation SLOW BUT SURE https://instaforex.com/forexcopy_monitoring.php?trader=1172112
sd59
Oct 21 2012 at 20:39
14 posts
this is why i never go on forums normally!!!!!! I thought i might get some sensible answers!
DrVodka
Oct 21 2012 at 22:47
297 posts
nothing to do with forums .just open your eyes . there is plenty of offers , how do we know what u looking for ? some ppl looking for 10 % return some for 100 % return .some ppl want to invest 100 $ some 10 000 $ . dont blaim forum blaim yourself ..cheers
biosko
Oct 22 2012 at 03:35
65 posts
Always ask for 2 years live trading history from trader before you invest to any PAMM.
aj9015121 (aj901512)
Oct 22 2012 at 08:55
60 posts
DrVodka posted:
nothing to do with forums .just open your eyes . there is plenty of offers , how do we know what u looking for ? some ppl looking for 10 % return some for 100 % return .some ppl want to invest 100 $ some 10 000 $ . dont blaim forum blaim yourself ..cheers

exactly. if you want to find a good trader you must search on your own, otherwise any trader (good or bad) will see your question and will offer his services right away.
Gary Sharp myfxpt com
myfxpt
Oct 22 2012 at 22:12
345 posts
Sensible answers are predicated with sensible questions. Instead of asking who is the best trader with the best track record, it would be best to focus your efforts on finding the right PAMM broker first, and then move to making your own assessment of each individual trader with a view to matching your financial objectives and current capabilities.
benbursar
Oct 23 2012 at 08:21
2 posts
And on the note Gary, would you have any recommendations as to which PAMM broker would be good? And why would you use this system as opposed to say Zulu or Currensee? I'm lloking into it all myself now but it's just a nightmare. Any help or kick in the right direction would be much appreciated. Of course setting your account up with a rebate gives yet more options. Aaahh!!

Forexpeacearmy has a nightmare review of Instaforex, and this a a company that supposedly won Best Asian Broker for the year 2011 or 2012.

But as to the initial question god I just cringe at some of the answers. Whoever asked the first question, please BE CAREFUL and take your time.
Cornix (cornix)
Oct 27 2012 at 14:50
14 posts
Could you explain please what are benefits of PAMM? I currently manage money with Alpari UK through IB/POA model and wonder if PAMM could be more effective...
PipAddiction (Supranium)
Oct 27 2012 at 16:15
76 posts
J.M could you lead to IB/POA explanation. I did not find anything by searching google.
Cornix (cornix)
Oct 28 2012 at 03:27
14 posts
Supranium posted:
J.M could you lead to IB/POA explanation. I did not find anything by searching google.

Oh sorry. I mean that I registered as an IB (Introducing Broker) with Alpari UK so that clients who want me to manage their money open an account there which is 'linked' to me and sign POA (Power of Attorney) form, according to which I legally trade their accounts and the broker automatically deducts my share from their accounts every month.

It feels like the most secure scheme for both client and a manager in my view and also there are no execution issues like those which tend to occur with intermediary platforms like Zulu.

I wonder what are possible benefits of PAMM vs. what I described?
Vlad (Mars30)
Oct 28 2012 at 03:45
155 posts
cornix posted:
Supranium posted:
J.M could you lead to IB/POA explanation. I did not find anything by searching google.

Oh sorry. I mean that I registered as an IB (Introducing Broker) with Alpari UK so that clients who want me to manage their money open an account there which is 'linked' to me and sign POA (Power of Attorney) form, according to which I legally trade their accounts and the broker automatically deducts my share from their accounts every month.

It feels like the most secure scheme for both client and a manager in my view and also there are no execution issues like those which tend to occur with intermediary platforms like Zulu.

I wonder what are possible benefits of PAMM vs. what I described?

maybe you're a little bit wrong?

IB (Introducing Broker, IB) - this is the official representative (agent) of the Company, which carries out independent activities to attract customers to the Company. For activity introducing broker does not need to have a license (broker, dealer, etc.) of a professional participant of the financial markets and not have to be a legal person.

How to earn IB?
Introducing broker earns from trade customers, that is, the number and volume of transactions the client: the more active client trades, the more commission IB-partner.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Example:

A client trades EURUSD, renumeration for 1 lot amounts to $12. For the month clients trading volume totaled 50 lots. Therefore, the agent's commission for the month makes

Commission =50 lots * $12 = $600
--------------------------------------------------------------------------------------------------------------------------------------------------------
'so that clients who want me to manage their money open an account there which is 'linked' to me and sign POA (Power of Attorney) form, according to which I legally trade their accounts'

is that for real? 😄😎
PipAddiction (Supranium)
Oct 28 2012 at 08:02
76 posts
I have never heared about the that POA system through IB. So how you actually trade those funds? Where do you clients money is? Do they still have separate accounts and you trade them as a pool? And what other rules apply?
Do you trade trhough API? In which category your account is with Alpari? How come Alpari UK doesnt say anything about this method on their site?
Chikot
Oct 28 2012 at 10:31
2299 posts
I think trader must inform client that he earns from volume trading. I think t is no good for the client to have such fund manager.
Profits should come from making money for clients alone.
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