Do not invest more money than you can afford to lose.
FXPrimus, a forex and CFD broker based and regulated in Cyprus, announced it is launching a percentage allocation money management (PAMM) service due to popular demand.
The “Masters” – Skilled Traders – will have the opportunity to showcase their performance to the FXPrimus customers and to generate income with their trading strategies, which will be protected from copying. The skilled traders will be required to trade their own funds as well, in order to provide the investors with the full confidence that they share the same objectives – i.e. profit.
The followers will be able to choose a suitable PAMM account based on the results of its holder. They will have full transparency in performance and fees and will have full flexibility to deposit and withdraw funds as their see fit.
The FXPrimus PAMM accounts are fully automated both for the skilled traders and the investors. When a trade is closed, the profit or loss of the trade is distributed amongst all participants in the PAMM based on their risk specifications. The skilled trader receives a commission and/or performance fee based on the results of the trades. The PAMM service also provides exclusive conditions, reliable order execution and dedicated support.
FXPrimus is a broker of forex, commodities, energies and indices. It holds a license by the Cyprus Securities and Exchange Commission (CySEC) since December 2014 and can offer its services to clients from all EU member states.
Earlier this month the broker announced it is launching a co-branded credit card with MasterCard.
PAMM is a type of pooled money forex trading. An investor allocates a proportion of his/her money to a money manager of his/her choice. The money manager shares in the risk by also investing his/her money in the trades and charges a commission on the profits.
The PAMM service is rather popular among the clients of the forex broker Alpari, which recently reported that in 2015 the PAMM accounts generated a trading volume of $157 billion.
At the same time other brokers like LiteForex and Forex Club discontinued the service, while the automated forex broker RoboForex upgraded the PAMM accounts and transformed them into Risk Allocation Management Model (RAMM).
