Following trends of trading innovations, FirewoodFX even up their playing grounds by launching brand new PAMM service (Percentage Allocation Management Module).
Following trends of trading innovations, FirewoodFX even up their playing grounds by launching brand new PAMM service (Percentage Allocation Management Module). This recent addition of available account is accessible as of May 9th 2016, and users may choose either to be investor or fund manager.
As an Investor, user may allocate certain sum of their investment to a fund manager with a desirable trading record, while the fund manager may run own fund and his/her investor fund with certain restrictions to attain profits.
FirewoodFX Service History
Prior to PAMM service launch, FirewoodFX already implemented ForexCopy service, where users are enabled to copy trade signals from other registered traders. However, in this particular service, users as signals followers are not obliged to hand over their fund to signal leading traders.
PAMM matters as difference where investor funds factored into the equations. Fund managers pitch in their trading record where investors, assumming to gain profit, allot a sum of his/her fund to be managed by those good performing traders.
Advantages Of PAMM
If and when the profits acquired, it would be calculated automatically by FirewoodFX PAMM system, implying that fund managers may only focus on the trading without hassle of accounting for fee calculation, withdrawal processing, etc.
Security-wise, Investors are protected in safe investing mechanism; Fund manager is only able to trade the fund, and locked out from withdrawing investor fund. Every trading perfomances within PAMM projects are routinely scrutinized, so investor may evaluate all available managers performances before making investment decisions.
PAMM is still a promising platform for a professional traders to showcase their gold-coated portofolios, easily visible to all investor who is ready to make investment allocations. Here's also list of other brokers that provide PAMM services; Instaforex, Alpari, and Hotforex.