This page provides a detailed review of the major PAMM brokers.
Investing in PAMM has advantages compared to operating with EAs. For example, there is no need to purchase an EA, contract for a VPS, or run a full PC 24 hours a day. All you need to do is make a deposit. For more information, please refer to the article “comparing investment in PAMM and EAs“.
Also, if you want to know more about how PAMM works, please refer to the article “What is PAMM? Detailed explanation“.
First of all, below is a list of PAMM brokers and their reviews.
The three items were evaluated on a five-point scale.
| Logo | PAMM Brokers | Platform Features | PAMM Managers | Broker Reliability |
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FxOpen | 5★★★★★ | 4★★★★ | 5★★★★★ |
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AccentForex | 5★★★★★ | 5★★★★★ | 3★★★ |
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Alpari | 4★★★★ | 4★★★★ | 5★★★★★ |
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HF Markets | 4★★★★ | 3★★★ | 5★★★★★ |
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FXTM | 3★★★ | 3★★★ | 4★★★★ |
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InstaForex | 2★★ | 2★★ | 2★★ |
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FIBO Group | 3★★★ | 2★★ | 3★★★ |
Criteria for evaluating PAMM Brokers
Three factors are important when evaluating a PAMM brokers:
Functions of PAMM platform
When determining which PAMM manager to invest in, it is very important to understand the trading method.
For example, you can judge the risk of a trading method by looking at equity charts. If the curve between the account balance and the equity curve diverges too much, it can be seen that there is a risk of large losses occurring all at once.
If only the balance is displayed and equity trends cannot be confirmed, or transaction details cannot be confirmed, it is difficult to assess risk.
Therefore, what kind of account analysis functions a PAMM broker has is an important factor.
Below is the FXOpen account analysis screen.
Number of PAMM managers and profitability
Even if the PAMM service platform is excellent, it is meaningless if there is no excellent PAMM manager.
The presence of excellent PAMM manager accounts is also an important deciding factor.
Reliability as a FOREX broker
Reliability as a FOREX broker is also very important when evaluating PAMM services.
There are scammers out there who pretend to be a broker’s PAMM service, scoop up customer funds, and then suddenly disappear. This is what is called a Ponzi scheme. Scammers pretending to be brokers create fake trading histories and profit curves to make it look like they are making explosive profits. They attract customers, and in the end, the businesses themselves disappear.
It is necessary to comprehensively understand the reliability of a broker based on factors such as the financial license that the broker owns.
In addition, based on financial regulations, some brokers restrict customers from opening a PAMM account or becoming a PAMM manager depending on their country of residence.
If PAMM is unavailable, copy trading may be offered as an alternative.
Detailed Review of PAMM Bokers
Compare the PAMM brokers listed on three criteria.
FxOpen
Platform Features：★★★★★
FXOpen’s PAMM platform is rich in trading history analysis functions.
You can check the actual stability of trading by checking the trends in Equity’s drawdown.
It is an excellent PAMM platform.
However, each transaction history (currency pair, opening time and price, closing time and price) is not disclosed.
Number and profitability of PAMM managers：★★★★
Some accounts are consistently profitable.
Broker Reliability：★★★★★
FXOpen is a highly trusted broker worldwide.
They have three financial licenses in total UK (FCA), Cyprus (CySEC), and Australia (ASIC).
FXOPEN INTERNATIONAN, which provides PAMM services, is headquartered in Nevis and is not subject to the above financial regulations. However, overall it is a well-known and reliable broker.
AccentForex
Platform Features：★★★★★AccentForex allows you to check detailed transaction history of your account.
You can check information such as whether high-risk methods such as martingale are being used, which can be used as a reference when deciding whether to invest.
Number and profitability of PAMM managers：★★★★★
There are multiple PAMM accounts that consistently accumulate profits with small drawdowns.
Judging by the profit graph posted on the site, it has the most stable accounts among PAMM brokers.
However, many accounts have relatively high minimum investment limits.
PAMM accounts with stable performance often have a minimum deposit amount of 1500 USD to 3000 USD.
Broker Reliability：★★★
AccentForex holds a Vanuatu (VFSC) financial license. The number of users is still small, and its reliability as a broker is unclear.
I myself invested in AccentForex’s PAMM account to check whether the profits can be withdrawn. As a result, I was able to withdraw funds from my PAMM account via BTC without any problems, and my withdrawal was never refused.
The broker probably won’t blatantly run away with customers’ funds.
However, there have been several times in the past when accounts that had been making very stable profits suddenly experienced large losses. (It would be extremely problematic if these accounts were the work of the brokers themselves, rather than ordinary people.)
Alpari
Platform Features：★★★★Alpari’s PAMM service cannot check detailed transaction history. Therefore, it can be difficult to determine which account to invest in.
It is dangerous to invest without understanding trading methods.
Alpari PAMM has a structure in which the profit distribution ratio between the PAMM manager and investors changes depending on the size of the investor’s balance.
The smaller the deposit, the smaller the investor’s share will be. If the deposit is around 500 USD, approximately 50% of the profit will be taken as compensation to the PAMM manager.
Number and profitability of PAMM managers：★★★★
Since there are many PAMM accounts, many of them are profitable. However, it is difficult to assess the risks, so it is better to be careful especially if the operating period is short (less than one year) or if the rate of return is unnaturally high.
Broker Reliability：★★★★★
Alpari is a world-famous and large broker. The data provided by Alpari is often used as historical data for backtesting automated trading systems (EA), so it is probably a broker that is quite familiar to those who engage in automated trading.
HF Markets(HFM)
Platform Features：★★★★The interface of HF Markets’ PAMM service is sophisticated.
However, it is a little difficult to understand the trends in equity, and it is difficult to evaluate the risks of trading methods.
Number and profitability of PAMM managers：★★★
Due to the small number of PAMM managers, investment options are limited. This is also due to restrictions on the countries in which PAMM can be used.
HF Markets has restrictions on the countries in which the PAMM service can be used in order to comply with the laws and regulations of each country.
Therefore, it may not be available in your area.
Users who cannot use PAMM can use copy trading services instead.
Broker Reliability：★★★★★
HF Markets is very large and reliable as a FOREX broker.
It holds four financial licenses: Multi-Country Seychelles (FSA), Cyprus (CySEC), South Africa (FSCA), and St. Vincent and the Grenadines (SVGIGB).
This broker will not refuse withdrawals or run away with customers’ funds.
FXTM(ForexTime)
Platform Features：★★★Account analysis functionality is not very comprehensive.
Unable to display important equity movements.
This makes it difficult to determine if risky techniques such as martingale or grid trading are being used.
Number and profitability of PAMM managers：★★★
There are also popular accounts with over 100 investors.
However, since there are few PAMM managers, there are few options for investment.
Broker Reliability：★★★★
FXTM (FOREX TIME) is a brand operated by Exinity. Alpari is also a brand of Exinity and is managed by the same company. In total, we have obtained three financial licenses: Cyprus (CySEC), UK (FCA), and Kenya (CMA). It is highly reliable as a broker.
InstaForex
Platform Features：★★Account analysis functionality is not very comprehensive.
Number and profitability of PAMM managers：★★
The number of PAMM managers is small. You can choose between copy trading or investing in PAMM.
Broker Reliability：★★
We have financial licenses from British Virgin (BVI FSC) and Saint Vincent (SVGIGB). The drawback is that it is not very reliable as a broker and has low ratings on various review sites.
FIBO Group
Platform Features：★★★Account analysis functionality is not very comprehensive.
Number and profitability of PAMM managers：★★
The number of PAMM managers is small. We cannot confirm accounts that have high expectations.
Broker Reliability：★★★
FOBOGROUP is operated under license from British Virgin Islands (BVI FSC). The group’s FOBOMARKET has obtained a license from Cyprus (CySEC).