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Alpari, Russia’s largest forex broker, announced it is hiking the minimum required capital for the percentage allocation money management (PAMM) accounts in euro and gold. Now the sum equals that in USD.
The new requirements are as follows:
The minimum amount of manager’s capital required to be included in the rating of PAMM Accounts:
– current amount: 3,000 USD / 2,000 EUR / 2,000 GLD;
– new amount: 3,000 USD / 3,000 EUR / 3,000 GLD.
The manager’s non-withdrawable funds required to be included in the rating of PAMM Accounts:
– current amount: 1,000 USD / 800 EUR / 800 GLD;
– new amount: 1,000 USD / 1,000 EUR / 1,000 GLD.
The minimum funds required to create a PAMM Portfolio:
– for public PAMM Portfolios: 1,000 USD / 800 EUR / 800 GLD;
– for public PAMM Portfolios: 1,000 USD / 1,000 EUR / 1,000 GLD;
The maximum level of funds in a public PAMM Account, where the leverage exceeds 1:100 (In accordance with clause 2.5 of the PAMM Account Service Regulations, if the funds of a public PAMM Account reach the level indicated, the manager must lower the leverage in myAlpari.):
– current amount: 100,000 USD / 70,000 EUR / 70,000 GLD;
– new amount: 100,000 USD / 100,000 EUR / 100,000 GLD.
In June, Alpari released a report from an external audit done by the company Baker Tilly Russaudit, which showed that in 2015 the PAMM accounts generated a trading volume of $157 billion.
Alpari launched its PAMM program in 2008 and it is still popular among traders, while other major forex brokers in Russia, such as Forex Club, have discontinued it. Alpari, however, is actively developing the service and has added PAMM accounts to its MetaTrader 5 platform.