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?
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.
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'😉
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
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