What is a Forex PAMM Account?
A Forex PAMM account connects the funds and trading of professional traders with other investors from all around the world allowing you to copy their trading. These Forex PAMM accounts allow investors to trade forex without needing to trade on their own and also allow the PAMM account managers to generate additional income through managing the investors’ funds in the PAMM account. This is a pre agreed commission based on the forex PAMM accounts performance. The distribution of the profit is made automatically according to the offer from the chosen forex PAMM accounts.
It’s so simple to get started! You simply choose the PAMM account that you want to join, become a follower and copy trade from the PAMM account without doing anything!
FxOpen offers by far the most active PAMM Accounts with over 200+ to choose from and $10million+ in trading capital. You can start using some of the best forex PAMM accounts by choosing those you want to add to your trading portfolio. The majority of these PAMM accounts have been running for at least a few months and the statistics all in one table make it easy to compare and help you to decide which is the best forex PAMM account for you.
How to become a Forex PAMM Account Follower?
It is VERY easy to start taking advantage of professional traders by simply joining any forex PAMM account and letting them do all of the hard work for you. You can basically have many years of forex trading experience, knowledge and verified results at your finger tips. I feel that way too many forex traders miss out on the potential benefits of a PAMM acount because they just do not understand how it works but it is so easy – Do not miss out! Just make sure that you understand the risks of trading before you start.
Simply select one or multiple forex PAMM accounts that you wish to invest in and you will start copying trades from the accounts trading which is done by another trader on your behalf. This makes it completely hands free forex trading. You are simply a follower benefiting from copying trades and does not require that you have any forex knowledge or experience, although this would be advantageous!
- Fill out the simple form here to register with FXOpen.
- After you pass verification, open an investment account.
- Fund your investment account in your My FXOpen area.
- Choose a suitable Master from the PAMM Account Rating and copy his/her trading strategy.
- Check performance
Forex PAMM Account Table Fields Explained
This is the name of the forex PAMM account.
The total percentage gain or loss since the forex PAMM account began.
The average daily percentage gain or loss the forex PAMM account has had.
How many days the forex PAMM account has been running.
The maximum drawdown on the account as a percentage. Drawdown is a percentage of the account which has been lost when there was a run of losing trades. It is a measure of the largest loss that the trading account had at any given moment or period of time.
The value of the forex PAMM account if all positions were closed.
PF (Profit Factor)
This is the profit factor of the forex robot. Profit factor is the gross profit / gross loss. E.g Profit of $6000 and a loss of $3000 would give a profit factor of 2.0. This means that for every $1 risked, you can expect a return of $2. If a forex robot has a profit factor less than 1, eg profit factor of 0.7, this means that for every $1 you can expect $0.70 back (the forex robot is a losing one!). If a forex robot has a high profit factor, it is a good one – eg profit factor of 6.0 ($6 gained for every $1 risked).
The amount of traders who are actively following the forex PAMM account.