Should I open a PAMM account ?

I thinking of helping my close friends and families member on trading, but handling so many MT4 accounts will be a mess for me.
Should I just open up a PAMM account and ask them to deposit fund inside ?

If Yes , which platform will be more reliable ?
Please advise

I think, Myfxbook is the most popular site for automatic trading service! By the way, I don’t think it will be a good option to you! Because, you want to helps your family members! In this case, manual trading is much reliable and safe.

If you are confident enough about your trading skill, then you can do so! What’s your current trading result?

I think PAMM account might be convenient for you. But I don't think that it was a good idea to involve close friends and family members in Forex. If you lose everything, they will never forget it. Don't deceive yourself that everything will be fine. This is Forex, not a walk in the park with friends and family.

is there any good PAMM manager?i need good manager

PAMM account in any regulated broker will be fine. If any strategy making at least 5% per month or more consistently, then it can bring huge investors as well.

Mt4 platform is best to start with, but if the account balance reaches more than 1 million USD , then there can't be any other platform other than FIX API. FIX API is the best platform to perform large volume trades and high frequency systems completely anonymously.

Irnest posted:
I think PAMM account might be convenient for you. But I don't think that it was a good idea to involve close friends and family members in Forex. If you lose everything, they will never forget it. Don't deceive yourself that everything will be fine. This is Forex, not a walk in the park with friends and family.

Never a truer words said. Why not teach your family and friends rather than trade their funds. They will blame you if there are any losses

Irnest posted:
I think PAMM account might be convenient for you. But I don't think that it was a good idea to involve close friends and family members in Forex. If you lose everything, they will never forget it. Don't deceive yourself that everything will be fine. This is Forex, not a walk in the park with friends and family.

Good advice! I see, many traders started there trading with lots of hope, and now there are not available here! Really, Forex is the most challenging profession.

AniLorak posted:

Irnest posted:
I think PAMM account might be convenient for you. But I don't think that it was a good idea to involve close friends and family members in Forex. If you lose everything, they will never forget it. Don't deceive yourself that everything will be fine. This is Forex, not a walk in the park with friends and family.

Good advice! I see, many traders started there trading with lots of hope, and now there are not available here! Really, Forex is the most challenging profession.

Also most danger profession

Adribaasmet posted:
If you are confident enough about your trading skill, then you can do so! What’s your current trading result?

Hello dear! I have almost 5 years trading experience and right now I am doing my live trading with enough joy! But, that doesn’t mean I’m trading with 100% success ratio! Overall, I am making regular money here, and that’s my satisfaction!

Fund management comes with great responsibility. Before managing funds for others, it is wise to have consistent and long track record (several months to be the least) to showcase to investors that you can be trusted to manage their funds with professionalism.

Get to know your potential clients on their goals and objectives and then as a fund manager, you decide if you can deliver it.

If you have all it takes to be a fund manager, go for it. And investors will come and seek you before you knew it.

h2tforex posted:
I thinking of helping my close friends and families member on trading, but handling so many MT4 accounts will be a mess for me.
Should I just open up a PAMM account and ask them to deposit fund inside ?

If Yes , which platform will be more reliable ?
Please advise

As you dont share any results I suggest you will not open anything

AmDiab posted:

Adribaasmet posted:
If you are confident enough about your trading skill, then you can do so! What’s your current trading result?

Hello dear! I have almost 5 years trading experience and right now I am doing my live trading with enough joy! But, that doesn’t mean I’m trading with 100% success ratio! Overall, I am making regular money here, and that’s my satisfaction!

If you are able to trade with a consistent profit, then you can try to trade in pamm. But before you collect money from your friends, you should understand that if you fail, you may face an embarrassing situation. Since you are not seeking to attract investment from outside, then you do not have to be ahead of the rating, so I would advise you to look for a platform with the largest and longest-lasting service.

I think it's worth to open your account if you are a successful trader and have experience behind your back. And you decided with your experience to help others make money and feel good. The main thing is to find partners who can attract enough investors to you,then you will earn money and help others.

Hi all!
 hope you are doing well!

If you feel you are good at trading and your strategies are good enough that you can create a portfolio on your trading and get traders linked to you, you can surely go ahead to be a PAMM manager.