There are many trading strategies available, and some are more successful than others. Advanced traders will certainly be familiar with PAMM, short for Percentage Allocation Management Module. These accounts allow investors to allocate funds to experienced traders with the aim to maximize gains.
However, just like finding a regular forex broker should be approached with time and care, the same goes for PAMM forex brokers. Rushing this process can lead to issues further down the line. To make this process easier, I’ve reviewed 10 of the top PAMM forex brokers on the market currently.
Unlimited demo account: Both new and experienced traders can access the different HYCM demo accounts across the broker’s platform for as long as they like. This will help new players become better skilled and experienced players more familiar with the various trading environments on the platform.
Supports multiple languages: Another HYCM bonus is its earned regulatory approval in 140 countries. This strongly indicates the broker’s versatility. Depending on the traders’ nationality, anyone can enjoy full access to the trading platform in their preferred language.
Long-standing reputation: With over 40 years in the financial industry, HYMC stands tall as an industry leader that has stood the test of time. Its financial services have also improved over the years to increase the platform’s functionality and create an enjoyable trading experience.
Cons
Customer support is unavailable during weekends: Since the broker offers financial services for some trading instruments that operate 24/7, customer support must be available round the clock. However, HYMC’s customer support services across all platforms are only available on weekdays. This means traders have to wait till weekdays to access customer support if the need arises on weekends.
Unlimited demo account: Both new and experienced traders can access the different HYCM demo accounts across the broker’s platform for as long as they like. This will help new players become better skilled and experienced players more familiar with the various trading environments on the platform.
Supports multiple languages: Another HYCM bonus is its earned regulatory approval in 140 countries. This strongly indicates the broker’s versatility. Depending on the traders’ nationality, anyone can enjoy full access to the trading platform in their preferred language.
Long-standing reputation: With over 40 years in the financial industry, HYMC stands tall as an industry leader that has stood the test of time. Its financial services have also improved over the years to increase the platform’s functionality and create an enjoyable trading experience.
Cons
Customer support is unavailable during weekends: Since the broker offers financial services for some trading instruments that operate 24/7, customer support must be available round the clock. However, HYMC’s customer support services across all platforms are only available on weekdays. This means traders have to wait till weekdays to access customer support if the need arises on weekends.
RoboForex offers a wide range of PAMM account options with competitive trading conditions.
Alpari has a long-standing reputation in PAMM trading with extensive manager pools.
FxPro provides a strong regulatory framework and diverse asset offering.
IC Markets stands out for its low spreads and high liquidity.
NordFX offers low minimum deposits for PAMM accounts, making it accessible to small investors.
FIBO Group has extensive experience in managed accounts, making it one of the best forex PAMM brokers in terms of reliability.
InstaForex has a large range of PAMM account services available. Pepperstone offers low-cost ECN PAMM accounts.
AMarkets has low entry requirements and flexible PAMM services.
FXOpen offers ECN and STP PAMM accounts.
Comparison Table
Broker
Regulation
Min Deposit
Spreads From
PAMM Features
RoboForex
FSC
$10
0.0 pips
Multiple account types, ECN options
Alpari
FSA
$50 on the Standard Account
0.1 pips
Extensive manager pool, detailed statistics
FxPro
FCA, CySEC
$100
0.6 pips
Strong regulation, diverse assets
IC Markets
ASIC, CySEC
$200
0.0 pips
Low spreads, high liquidity
NordFX
CySEC
$10-$200 depending on the account
0.9 pips
Low minimum deposit, crypto support
FIBO Group
CySEC
$300 for PAMM accounts
0.5 pips
Diverse investment products
InstaForex
BVI FSC
$1
0.3 pips
Low entry barrier, forex contests
Pepperstone
FCA, ASIC
$0
0.0 pips
Excellent execution, customer service
AMarkets
SVG FSA
$100
0.3 pips
Diverse PAMM options, copy trading
FXOpen
FCA, ASIC
$100
0.0 pips
ECN trading, cryptocurrency support
Criteria Breakdown Summary
When reviewing the top PAMM forex brokers, I put together a set of criteria to measure each one against. My criteria included regulation, trading platforms, asset selection, fees and spreads, minimum deposits, performance tracking tools, risk management, and customer support. I rated each broker from 1 to 5 for each of these points specifically related to PAMM account offerings.
RoboForex
Best Known for Wide Range of PAMM Account Options
RoboForex is a well known broker that is popular in the PAMM forex arena. It offers a large range of PAMM account options which make it easy to diversify portfolios. I found RoboForex very easy to use and I feel it allows traders to align their risk tolerance with their overall goals. Additionally, RoboForex offers competitive trading conditions, making it a good choice for beginners and experienced traders.
We have an in-depth RoboForex review on our website, which digs deeper into this broker’s main features.
RoboForex is a well-established PAMM forex broker with over a decade of experience. Source: roboforex.com
Features
RoboForex offers a high quality PAMM account that is designed to meet different investing needs. This broker offers several account types, a user-friendly interface, and competitive spreads. I found it easy to monitor PAMM manager performance using this platform, and there are many other analytical tools available. Additionally, the range of educational resources are useful for learning and development.
Overall, RoboForex is an excellent choice of PAMM forex broker.
Pros
Wide range of PAMM account options.
Competitive trading conditions and low spreads.
User-friendly performance tracking tools.
Extensive educational resources for PAMM investors.
Cons
Not regulated by tier-1 authorities like FCA or ASIC.
Higher minimum deposit for some PAMM account types.
Limited cryptocurrency offerings compared to some competitors.
Criteria Evaluation
Regulation: 4/5
Trading Platforms: 5/5
Asset Selection: 4/5
Fees and Spreads: 4/5
Minimum Deposit: 3/5
Performance Tracking: 4/5
Risk Management: 4/5
Customer Support: 4/5
Community Reviews and Expert Recommendations
RoboForex enjoys positive customer reviews in general, and many particularly highlight the PAMM offerings. Additionally, competitive trading conditions are regularly mentioned, along with ease of use.
“I have been using this Brooker a couple of times over a period of time. I have NEVER had any ISSUES AT ALL, deposits AND WITHDRAWAL. I got my money every time. I even withdrew 400+ € and 185€ got my money both times with no issues. Had it visible on my bank account on the same day.” – Danewolf via Trustpilot
“I’ve been using this broker for a while now (4 Years), and they’re honestly the best I’ve come across. Their customer support is top-notch – always quick to help and super knowledgeable. What I love most is the speedy withdrawals for bank transfers, usually processed in under 12 hours. Electronic Payouts are even faster. The trading conditions are fantastic too – tight spreads, low commissions and fast executing. Overall, this broker makes trading a breeze. Can’t recommend them enough!” – Johannes Pichler on Trustpilot
Industry experts recommend RoboForex for intermediate and advanced traders in particular, thanks to its many account types and analytical tools.
Pricing
RoboForex offers competitive spreads starting from 0 pips on ECN accounts. Commission structures vary depending on the account type chosen.
Alpari
Best Known for Being a Pioneer in PAMM Trading
Alpari is a well-established and reputable forex broker that specializes in PAMM accounts in particular. It is a top choice for many brokers who want to use these services, and offers several account types. As with the previous broker I reviewed, this makes it easy to align goals with risk tolerance.
This broker also offers MetaTrader 4 & 5, along with a large selection of PAMM managers to choose from.
Alpari is a reputable PAMM forex broker with a variety of account management tools. Source: Alpari
Features
The Alpari PAMM system is a transparent option and ideal for those who want to use professional management for the first time. I would recommend this broker for both beginner and advanced traders, thanks to its ease of use. It also has competitive spreads and high-quality reporting tools.
This broker’s reputation is second to none, making it one of the best PAMM forex brokers on the market at the moment.
Pros
Long-standing reputation in the PAMM forex broker space.
Variety of PAMM account options and strategies.
Transparent fee and performance reporting.
Cons
Limited asset selection compared to some competitors.
Higher minimum deposits required for certain PAMM accounts.
Criteria Evaluation
Regulation: 4/5
Trading Platforms: 5/5
Asset Selection: 3/5
Fees and Spreads: 4/5
Minimum Deposit: 3/5
Performance Tracking: 5/5
Risk Management: 4/5
Customer Support: 4/5
Community Reviews and Expert Recommendations
Alpari receives high praise for its PAMM services, with many users commending its performance tracking tools and transparency. Users also highlight how easy the platform is to use and the large selection of money managers. However, some users do mention slow customer support response times occasionally.
Industry experts recommend Alpari for PAMM traders, highlighting the opportunities for portfolio diversification. Read more in our in-depth Alpari review.
Pricing
Alpari offers competitive spreads starting from 0.1 pips, depending on the account type. Commission fees and manager fees vary by the PAMM account chosen, ensuring transparency in cost.
FxPro
Best Known for Professional Trading Environment
FxPro is another highly regarded PAMM forex broker that offers reliability and transparency. It offers several trading platforms to choose from and competitive trading conditions. Additionally, FxPro offers slow spreads and strong liquidity.
FxPro is a reliable PAMM forex account broker with a quality reputation. Source: FXPro
Features
As one of the top PAMM forex brokers, FxPro gives access to both MetaTrader 4 & 5, along with cTrader, offering flexibility from the start. Its PAMM services are suited to professional traders and those building up to that level. The pricing structure is low and clear, and there are many quality analytical tools for careful monitoring.
Overall, I rate FxPro as one of the best PAMM account forex brokers for experienced and professional traders.
Pros
Low spreads and professional-grade trading conditions.
Wide selection of PAMM managers and investment strategies.
Advanced trading platforms with extensive analytical tools.
Cons
Limited educational resources for new PAMM investors.
Requires higher minimum deposits for certain PAMM accounts.
Criteria Evaluation
Regulation: 4/5
Trading Platforms: 5/5
Asset Selection: 4/5
Fees and Spreads: 4/5
Minimum Deposit: 3/5
Performance Tracking: 5/5
Risk Management: 4/5
Customer Support: 4/5
Community Reviews and Expert Recommendations
FxPro receives mostly positive feedback from users, with many highlighting the professional trading environment. Users also mention the tight spreads and fast execution speeds available on PAMM accounts, along with integration with several platforms.
“This is an excellent platform and even better than I initially thought it was when I signed up with them. The execution is one of the best I have experienced in my relatively short trading experience.” – Blaise L via Trustpilot
“This platform is an excellent broker that offers fully transparent and quality trade executions. FxPro has awesome trading conditions that have helped my trading career. I count my losses as wins because it’s a learning process and today I reached 100 successful trades with FxPro.” – Vo Tuong Vinh via Trustpilot
Industry experts recommend FxPro for experienced traders in particular, and highlight the large selection of investment managers available. Our FxPro review gives more information.
Pricing
FxPro offers spreads starting from 0.6 pips on ECN-style PAMM accounts, with commission fees varying by account type. Investors can choose managers based on their fee structures, providing a transparent cost experience.
IC Markets
Best Known for Being a True ECN Broker with Low-Cost PAMM Accounts
IC Markets is another of the best forex PAMM account brokers around, with many features that back up these claims. It offers very low spreads and fast execution speeds, along with several trading platforms on offer. PAMM accounts have high leverage options, up to 1:500, with minimal slippage. Overall, IC Markets is a good choice for high volume traders.
IC Markets is a reliable PAMM forex broker for high volume traders. Source: IC Markets
Features
IC Markets is a PAMM broker with fast execution speeds and very competitive pricing options. This broker offers MetaTrader 4 & 5 and cTrader, along with many features for tracking and analysis. With tight spreads, IC Market is a good choice for PAMM strategies, along with many manager options for reduced risk and diversification.
Pros
True ECN pricing with low spreads and fast execution.
Advanced tools for monitoring PAMM manager performance.
Wide selection of platforms with excellent trading conditions.
Cons
Requires higher minimum deposits for ECN PAMM accounts.
Limited asset classes outside forex.
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 5/5
Asset Selection:3/5
Fees and Spreads: 5/5
Minimum Deposit: 3/5
Performance Tracking: 5/5
Risk Management: 4/5
Customer Support: 4/5
Community Reviews and Expert Recommendations
IC Markets receives positive reviews from users, especially for its transparent pricing and reliability. Many users rate their PAMM trading accounts in particular, along with how easy the platform is to use. Additionally, high volume traders particularly enjoy this broker for its efficient PAMM services.
“I’m absolutely satisfied with IC Markets as my broker! I use MetaTrader 5, and the platform works flawlessly. All trades are executed quickly and reliably, and I’ve never had any issues. The customer support is also excellent, fast and easy to reach whenever you need them. Overall, I can highly recommend IC Markets!” – Lukas Brunner via Trustpilot
“I had problems with account login and two-factor authentication (2FA). But, Jalna from the support team was able to support me in a matter of minutes. What always makes me trust IC Markets is the enthusiasm of the support team and customer service. They always give me trust and a sense of security as a third layer of security.” – Blend Qerimi via Trustpilot
Industry experts recommend IC Markets for high volume and experienced traders, and highlight its strong regulation. Our IC Markets review outlines this broker in more detail.
Pricing
IC Markets offers spreads starting from 0.0 pips on ECN PAMM accounts, with commissions as low as $3 per lot. The broker’s transparent fee structure makes it an attractive option for professional PAMM forex traders.
NordFX
Best Known for Offering Multiple PAMM Account Types
NordFX is a very well-known name in the trading world and it’s known particularly for its PAMM services. There are several account options available, catering to different needs, along with competitive spreads. Additionally, this broker offers many account managers to choose from. I found the fees very low and there were many educational resources available.
NordFX offers many PAMM services and is well-established in the trading industry. Source: NordFX
Features
I found NordFX’s PAMM forex accounts to be high quality and flexible. The different account types are ideal for suiting specific trader needs, including risk comfort levels. There are also many analytical tools available for monitoring and tracking. Overall, I’d recommend NordFX for both beginner and professional traders due to the flexibility of the account types.
Pros
Wide variety of PAMM accounts to match different risk profiles.
Strong educational resources for new PAMM investors.
Low spreads and competitive trading conditions.
Cons
Limited selection of non-forex assets.
Higher minimum deposits for certain PAMM accounts.
Criteria Evaluation
Regulation:4/5
Trading Platforms:4/5
Asset Selection: 3/5
Fees and Spreads:4/5
Minimum Deposit: 3/5
Performance Tracking: 5/5
Risk Management: 4/5
Customer Support: 4/5
Community Reviews and Expert Recommendations
Overall, NordFX receives positive feedback from users, particularly for the diversity of its PAMM services and accounts. Users often mention the low spreads and excellent customer service.
“What I like best about this broker is that even if you invest a minimum of 100 usd or 10000 usd. In any case NordFx provides you a Dedicated Relationship Manager who takes care of your basic training and supports you in all manner till you conduct traders withdraw and deposit money. This facility even lacks in many highly rated professional brokers. So from my side 4 stars to NordFx.” – Gauri Asthana via Trustpilot
“Nordfx is a good broker. Provide different instruments for trading to clients. It offers fast execution with good prices. It also provides good support from their business development managers.” – Mohamad Azman via Trustpilot
Industry experts particularly rate the competitive pricing structure and execution speeds associated with PAMM accounts.
Pricing
NordFX offers spreads starting from 0.9 pips, with a transparent fee structure that varies depending on the chosen PAMM account. Commissions and management fees are clearly outlined for investors.
FIBO Group
Best Known for Extensive Experience in Managed Accounts
FIBO Group is a well-established broker in the PAMM forex account space. It’s a great choice for investors who want to focus on this type of trading strategy, and it’s extremely transparent for peace of mind. There are many PAMM managers to choose from and many detailed metrics to measure and monitor performance. Additionally, spreads are competitive and there is access to cTrader and MetaTrader 4 & 5 platforms.
FIBO Group is a trusted PAMM forex broker. Source: FIBO Group
Features
Although FIBO Group is a good choice for beginner traders, I would recommend it in particular for experienced individuals. There are many in-depth analytical tools and many PAMM managers to choose from. Additionally, the choice of trading platforms adds to the list of features. It’s also noteworthy that this is one of the PAMM forex brokers with years of experience, so there is a large element of trustworthiness.
Pros
Extensive experience in managed accounts and PAMM services.
Wide selection of experienced PAMM managers.
Low spreads and fast execution for active traders.
Cons
Requires higher minimum deposits for ECN PAMM accounts.
Limited selection of non-forex assets.
Criteria Evaluation
Regulation: 4/5
Trading Platforms: 5/5
Asset Selection: 3/5
Fees and Spreads: 4/5
Minimum Deposit: 3/5
Performance Tracking: 5/5
Risk Management: 4/5
Customer Support: 4/5
Community Reviews and Expert Recommendations
FIBO Group is a trusted PAMM forex broker with many excellent reviews. Users mention its reliability and reputation, along with the range of features available. However, some users mention that the high minimum deposit for ECN accounts is one negative aspect.
“I can definitely recommend using this platform. It’s one of the reliable places to trade. When I’ve just started I opened a demo account and now I’ve been trading here for some years. It’s comfortable to read analytics on the website, everything helps to trade in case you are an expert.” – Julie F Via Trustpilot
“I am very pleased with the work of Fibo Group LTD. The site is convenient, employees are always in touch, quotes are accurate. The range of tools is large, you can find anything. I recommend this broker to anyone who wants to start investing.” – Dax Jenkins via Trustpilot
Industry experts recommend FIBO Group for advanced traders in particular and mention its transparent fee structure and low spreads. Our FIBO Group review gives more details.
Pricing
FIBO Group offers spreads starting from 0.5 pips on ECN accounts, with transparent commission structures. Fees and performance-based commissions vary by manager, providing flexibility for investors.
InstaForex
Best Known for Offering a Variety of PAMM Account Services
InstaForex is a popular PAMM account forex broker that has a range of account types available. I particularly liked this broker’s strong trading infrastructure and I’d recommend it for both beginner and experienced traders. There are many PAMM managers to choose from, and several trading platforms too. Additionally, detailed performance reports are useful for making strong decisions.
InstaForex offers PAMM forex accounts with a range of managers available. Source: InstaForex
Features
InstaForex stands out for its flexibility and reliability. It caters to all traders’ needs and offers a range of tools for monitoring performance. There are many PAMM forex managers available and several trading, along with low-cost trading conditions, with spreads starting at just 0.1 pips.
Pros
Wide selection of PAMM managers with varied strategies.
Detailed performance tracking and reporting tools.
Low-cost entry, suitable for small investors.
Cons
Limited educational resources for new PAMM investors.
Customer support response times can be delayed during peak hours.
Criteria Evaluation
Regulation: 4/5
Trading Platforms:4/5
Asset Selection: 3/5
Fees and Spreads: 4/5
Minimum Deposit: 3/5
Performance Tracking: 4/5
Risk Management: 3/5
Customer Support: 3/5
Community Reviews and Expert Recommendations
InstaForex receives mixed reviews from users but most rate the PAMM account features and the transparency of the service. Additionally, many users also mention the low-cost trading environment along with the range of platforms on offer.
“Great withdrawals and I usually get calls concerning customer service, so they check out my experience and update me on anything new.” – Kabelo Ratlhogo via Trustpilot
“Few years ago I started trading using InstaForex bonuses and a year later I started using real funds and I can say that all my expectations were met.” – Tommy G via Trustpilot
Industry experts highlight this broker’s competitive spread and range of analytical tools. More information is available in our InstaForex review.
Pricing
InstaForex offers competitive spreads starting from 0.3 pips, with a transparent commission structure based on the selected PAMM account and manager. Fees are performance-based, making it flexible for investors.
Pepperstone
Best Known for Low-Cost ECN PAMM Accounts
Pepperstone is a reputable and high quality PAMM broker with ECN-like trading conditions. This broker offers low spreads with fast execution speeds and a focus on transparency. This broker’s PAMM account is very popular with professionals, with tight spreads and many performance reports available. It also gives access to many trading platforms, including cTrader and MetaTrader 4 & 5.
Pepperstone is a reputable PAMM broker with many additional features. Source: Pepperstone
Features
Pepperstone provides a professional-grade PAMM service with low fees and very fast execution. It has many account managers available, along with reporting tools and advanced analytics. Overall, I would recommend Pepperstone for experienced traders particularly, because of the low-cost and reliable PAMM account.
However, it’s important to note that Pepperstone is unavailable to US clients.
Pros
Low-cost ECN-like trading conditions.
Fast execution speeds with low latency.
Detailed PAMM performance reports and transparent fees.
Cons
Higher minimum deposits required for certain PAMM accounts.
Limited educational resources for new investors.
Unavailable for US clients.
Criteria Evaluation
Regulation: 5/5
Trading Platforms: 5/5
Asset Selection: 3/5
Fees and Spreads: 5/5
Minimum Deposit: 3/5
Performance Tracking: 4/5
Risk Management: 4/5
Customer Support: 4/5
Community Reviews and Expert Recommendations
Pepperstone receives consistently positive reviews from users, many of whom mention the low-cost PAMM accounts with fast execution. Additionally, users highlight the performance tracking tools and tight spreads. Excellent customer support is another commonly mentioned aspect.
“Prompt response to queries, speedy execution of trades and stable platform all point to a great discount broker. Two thumbs up to Pepperstone.” – JY via Trustpilot
“This Broker is good. Spreads are low. Both my wife and I have accounts with them. Excellent customer service from Liz Kimetu, our account manager. No time wasting with back and forth emails. She just calls and sorts out whatever issues we have.” – Fahim Rashid Shariff via Trustpilot
Industry experts recommend Pepperstone for professional PAMM traders, thanks to the wide-range of advanced features. Read our Pepperstone review for more information.
Pricing
Pepperstone offers spreads starting from 0.0 pips on ECN-like PAMM accounts, with competitive commissions and transparent fee structures based on performance. These low-cost conditions make it ideal for active PAMM traders.
AMarkets
Best Known for Flexible PAMM Services and Low Entry Requirements
AMarkets is one of the newest entrants into the forex PAMM arena and it’s growing quickly. With several PAMM account services available, this broker offers flexibility along with low entry requirements. Additionally, AMarkets offers competitive spreads and a range of PAMM managers. Overall, I found AMarkets to be a reliable and quality option and I’d recommend it for intermediate and advanced traders.
AMarkets is a relatively new PAMM forex broker and one that offers many features. Source: AMarkets
Features
The fact that AMarkets has low entry barriers for their PAMM services gives flexibility to trading. There are many advanced trading platforms available, along with many PAMM managers to choose from. This is a cost-effective choice and one of the best PAMM account forex broker options for anyone looking to save money on fees.
Pros
Low entry barriers for new PAMM investors.
Wide selection of PAMM managers and strategies.
Detailed performance tracking and transparent fee structures.
Cons
Customer support can be slow during peak hours.
Limited availability of non-forex assets for PAMM accounts.
Criteria Evaluation
Regulation: 4/5
Trading Platforms: 4/5
Asset Selection: 3/5
Fees and Spreads: 4/5
Minimum Deposit: 4/5
Performance Tracking: 4/5
Risk Management: 4/5
Customer Support: 3/5
Community Reviews and Expert Recommendations
AMarkets enjoys positive reviews by users, especially for its low entry requirements and very competitive spreads. Some users mention that customer support can occasionally be slow, but these are isolated incidents and others have no issues with this.
“Highly recommended. Support is very fast and helpful, spreads are also acceptable. Recently one of the best brokers I worked with.” – Ermia Shahabi via Trustpilot
“The customer service is great and fast when it comes to handling an issue.” – Ariel via Trustpilot
Industry experts praise the flexibility of this broker and its performance metrics for PAMM accounts. Our AMarkets review gives more information.
Pricing
AMarkets offers spreads starting from 0.3 pips with transparent commissions on PAMM accounts. The broker’s low entry requirements make it suitable for smaller investors, with fees varying by manager performance.
FXOpen
Best Known for ECN and STP PAMM Accounts
The final of the best PAMM forex brokers I reviewed was FXOpen. This is a highly-regarded broker that is well-known for its STP and ECN trading. It offers a PAMM account service with fast execution and tight spreads, along with a range of PAMM managers available. Additionally, FXOpen has a transparent pricing structure and deep liquidity pools.
FXOpen is a well-regarded PAMM forex broker with years of experience. Source: FXOpen
Features
FXOpen has a high quality PAMM account service that provides professional trading conditions. In addition, this broker offers MetaTrader 4 & 5, along with detailed performance monitoring tools. Spreads are tight and execution speeds are fast, making it an ideal option for advanced traders.
Pros
ECN and STP trading conditions with ultra-tight spreads.
Transparent fee structures and detailed PAMM manager reports.
Access to multiple platforms for advanced trading.
Cons
Higher minimum deposits required for ECN PAMM accounts.
Limited asset selection outside of forex.
Criteria Evaluation
Regulation: 4/5
Trading Platforms: 5/5
Asset Selection: 3/5
Fees and Spreads: 5/5
Minimum Deposit: 3/5
Performance Tracking: 5/5
Risk Management: 4/5
Customer Support: 4/5
Community Reviews and Expert Recommendations
Many users highly recommend FXOpen and mention its competitive trading conditions in particular. Most users report excellent customer support, but they also highlight tight spreads and fast execution speeds.
“I’ve been trading with FxOpen for more than ten years. It is the best forex dealer that I know of. I never encountered any issue with FxOpen.” – Lim Eng Beng via Trustpilot
“Communication is swift and any enquiries dealt with. Any withdrawals are usually done the same day or next working day which is the best I’ve seen. Spreads are low too. Nothing negative to report.” – Andrew Street via Trustpilot
Industry experts recommend FXOpen for advanced traders in particular and praise its low-cost PAMM services. Read more in our FXOpen review.
Pricing
FXOpen offers ECN PAMM accounts with spreads starting from 0.0 pips, with a transparent commission structure based on volume. Fees are competitive and performance-based, making it suitable for active investors.
Notable Mentions
While the ten PAMM forex brokers I’ve reviewed are excellent choices, the following brokers also deserve a notable mention.
eToro
eToro is a popular broker that is particularly known for its social trading approach. With a strong focus on educational resources, this broker is ideal for beginners in particular. Our eToro review gives more details.
XM
XM is a quality broker that provides a reliable trading environment. There are several account types available and many educational resources for learning and development. Read our XM review for more information.
FXTM
FXTM is my final choice of notable mentions. This broker offers a wide-ranging trading experience with strong focus on learning and analysis.
FAQ
What is a PAMM account in forex trading?
PAMM stands for Percentage Allocation Management Module. This type of account is used in forex trading and allows investors to allocate funds to traders or money managers. Then, the manager trades for the investors with profits and losses divided proportionately.
As this is a popular trading strategy, many forex brokers offer a PAMM account, usually with several PAMM forex managers to choose from.
How do I choose the best PAMM forex broker?
There are many PAMM forex brokers on the market and it’s important to take the time to find the right one. Assess the regulatory status, trading conditions, number of PAMM managers available, tracking tools, and any risk management features. Also look at the broker’s transparency, pricing, and the quality of their customer support. Our feature on how to open a PAMM account in the US is a good starting point.
Are PAMM accounts safe for investing?
All types of trading come with a certain amount of risk, and PAMM accounts are no different. Safety depends on the regulatory status of the broker, their level of experience, and the track record of their PAMM account managers. It’s also important to have a personalized risk management plan in place to avoid unnecessary issues.
What are the typical fees associated with PAMM accounts?
All brokers have different pricing structures, so it’s important to check each one before making a decision. PAMM account fees usually include fees paid to the PAMM manager, often a percentage of the profits. There are also some brokers that charge management fees, and standard trading fees, such as spreads and commissions.
Can I withdraw my funds from a PAMM account at any time?
All brokers have their own set guidelines in terms of withdrawals from a PAMM account, so it’s important to check beforehand. Some brokers allow regular withdrawals, however some may require a notice period or place restrictions.
Final Thoughts
Having reviewed ten of the best PAMM forex brokers, it’s clear that there are many quality options on the market. However, there is no single answer to which is the best PAMM broker overall. For that reason, when choosing, remember to keep your personal trading goals to the front of your mind and do careful research.
The PAMM forex trading world is constantly evolving, with new technology emerging all the time. Staying up-to-date with new advancements is key and will ensure you make the best choice for your personal needs.
