FXOpen PAMM account service is a great alternative for both beginners and professional traders to gain money. Here's everything you need to know about it.

PAMM (Percentage Allocation Management Module) account is an excellent solution for both beginners and expert traders. The former can use PAMM accounts to earn profit without engaging in the market themselves, while the latter can get additional income by sharing their strategies.

FXOpen is one of the top brokers that allow traders to benefit from PAMM accounts, either as a Master or a Follower.

Master is the term referred to professional traders who are willing to offer their strategies for other traders to copy. In return, they'll receive a fee and a share of the profit made from using the strategy.

Meanwhile, Follower is the term used to describe traders who follow and replicate a Master's trading strategy, allowing them to earn profit without opening any real trades on their own.

In FXOpen, the PAMM service is really worth trying for both Masters and Followers. To begin with, it allows Followers to make profits from various attractive offers created by some of the best-performed Masters on the platform. As for the Master, they can easily decide their own parameters, including the percentage of Performance Fee (up to 100%) as well as Master Commission (up to 100%) for conducting the trade.

If you want to know more about FXOpen PAMM, then you're in the right place. We've compiled everything you need to know about FXOpen PAMM service in this guide below so you would know why this service is worth it.

 

FXOpen PAMM Account Types

In FXOpen, there are three PAMM account types that you can choose from, namely PAMM ECN, PAMM Crypto, and PAMM STP.

As the name suggests, PAMM ECN and PAMM STP use the ECN and STP order systems respectively. Meanwhile, the PAMM Crypto account allows traders to trade top cryptocurrencies and take advantage of the highly liquid crypto market using PAMM technology.

Here's a comparison table for more insights.

Features ECN Crypto STP
💲Account Currency USD, AUD, CHF, EUR, GBP, JPY, RUB mBTC, LTC, EUR, USD, RUB, CNH USD, EUR, RUB
💰Minimum Master's Capital $1,000 $200 to create the PAMM account, $1,000 to create offers $200
🔢Spreads Floating from 0.0 pips Floating Floating
💸Commissions From $1.5 half turn, depending on the equity and traded volume 0.5% of the transaction volume half turn No commission
ℹ️Quotes Format 0.12345 0.12345 0.12345
📉Minimum Transaction Size 0.01 lots 0.01 lots 0.01 lots
📈Maximum Open Trades Unlimited Unlimited Unlimited
⚖Maximum Leverage 1:100 1:3 1:100
☎️Margin Call 100% 30% 50%
⛔Stop Out 50% 15% 30%
🕋Islamic Account Yes No, swap is 10% per annum Yes
 Available Instruments 50 currency pairs, gold, silver, CFDs, oil, natural gas Currency pairs with BTC, LTC 50 currency pairs, gold, silver
🤖Expert Advisors ✔️ ✔️ ✔️
📊Scalping and Hedging ✔️ ✔️ ✔️
📰News Trading ✔️ ✔️ ✔️
⏰Trading Time Monday to Friday (FXOpen server time) 24/7 Monday to Friday (FXOpen server time)
👛Inactivity Fees Maintenance fee $10 per month, reactivation $50 Maintenance fee $10 per month, reactivation $50 Maintenance fee $10 per month, reactivation $50

You can use the information above to choose the right account depending on your needs and preferences.

 

How to Open a PAMM Account

Before you can open a PAMM account, you'll need to open an Investment account first. An investment account is a special account that acts as an intermediary account between the trader's Main account and the FXOpen PAMM service. The main function is for depositing funds and withdrawing profits.

Please note that Investment accounts are not trading accounts, so there's no password for them. Also, note that you can only open one investment account for each currency available on the Client Portal. So, if you want to join offers within the same PAMM account, you'll need to open two investment accounts in different currencies.

That aside, here are the steps that you should follow to open a PAMM account:

1. Visit FXOpen's website and open your Client Portal. Then, open the Investment tab and select "Add Account".

Step 1

 

2. Agree to the terms and conditions of the PAMM service, then click "Next".

Step 2

 

3. Choose the currency for your currency. It must match the currency of the PAMM account that you want to use.

Step 3

 

4. If you were introduced to the broker, enter the agent's account number and click "Next" (optional).

5. Once it's done, you'll get your login credentials. Your Investment account will be displayed on the left side of the Client Portal under the Investment tab.

6. To make a deposit, click the Transfer tab and choose your preferred deposit method. Select your Investment account and complete the transfer.

Step 6

 

7. To create a PAMM account, click the PAMM tab, then select "Accounts".

Step 7

 

8. On the next page, click "Open PAMM Account".

Step 8

 

9. Fill in the form of the new PAMM account. Note that you must be registered in the FXOpen forum to finish the process. Once you're done, click "Create".

Step 9

10. Congratulations! You have created a PAMM account. If you are a Master, you can continue by creating a new offer. If you are a Follower, simply access the PAMM Account Rating and subscribe to an offer of your choice.

 

To help you further, FXOpen has provided this tutorial video for PAMM Followers:

 

The Benefits of FXOpen PAMM Service

FXOpen ensures that all parties in its PAMM service are mutually beneficial. Here are all the advantages that you can get, either as a Master or as a Follower.

 

For Masters

  • Considerable income. As a PAMM Account Master, you will get two types of income, namely Master Commission and Performance Fee. The former refers to the remuneration for funds management. It is calculated daily as a percentage of the current Follower Balance and transferred to your Master account at each Rollover. Meanwhile, the Performance Fee is the percentage that you'll get from the Follower's profit. It is paid if the profit exceeds the Minimum Performance Constraint.

  • Unlimited number of followers. You can create an offer and allow an unlimited number of followers to replicate your strategy.

  • Make multiple offers with different parameters. Create multiple offers within a single profile, allowing you to get more Followers and higher income.

  • Automatic profit and loss distribution. The system will automatically distribute the gains and losses based on the proportion of each participant, so everyone will get their parts of return. In addition, it also guarantees that the share of profit and fees are paid to you on time and according to the offer conditions that both parties agreed on, hence allowing you to just concentrate on trading.

  • Illustrative and transparent performance monitoring system. You can attract more followers by performing well. The chart will display all of your past trading results accurately.

Master rating

 

For Followers

  • Fully control your assigned funds. You can add money to your account and withdraw at any time you want without the permission of the Master. Master has no access to your assigned funds, so they won't be able to trick you and run away with your money in any way.

  • Propose offers to Master. Aside from browsing through existing offers, you can also propose a Follower Offer with your own parameters and send it to the Master. The Master has a limited time to accept or decline the offer.

  • Automatic profit and fee distribution. All of the settlement operations (gains, losses, and fees) are handled by the FXOpen PAMM service, so you will receive your money according to the initial agreement.

  • Public monitoring and performance charts. You can easily narrow down the options and choose the strategy that you'd like to copy based on risk tolerance and profitability. The information is displayed in a simple, user-friendly manner, so you can easily follow along regardless of your level of expertise.

  • Switch from one offer to another within the same account. The migration procedure allows Followers to subscribe and switch to another offer very easily, allowing you to manage your trades more effectively.

  • Shorter trading interval. Masters can now create offers with a short trading interval of only seven days, thus allowing Followers to deposit and withdraw their profits in just a week. After the week passes, the Master fee is calculated and all profits are automatically distributed.

 

PAMM Account Rating

To choose the right Master to subscribe, make sure to check the FXOpen PAMM Account Rating first. The tool basically lists all of PAMM accounts on the platform, sorted by trading results in descending order. You can choose to view either the Top Masters or Top Followers rather easily.

PAMM Rating System

The "Top Master" category shows all Master accounts with the best active offers and past performance. Here is the list of information that you can get from the table:

  • Account: The name of the Master PAMM account.
  • Total Gain (%): The current gain of the account.
  • Daily Gain (%): The Master's profit of the previous day.
  • Days since opened: The number of days passed since the account opening.
  • Maximum Drawdown: The difference between the maximum and minimum of the past total gain.
  • ROR (Rate of Return): The ratio of money gained and lost based on the Master's historical performance.
  • Gain Chart: The Master's current gain in graphical view.

Meanwhile, the "Top Follower" category shows the ranking of the most successful Follower accounts on the platform. Here is the list of information that you can get from the table:

  • Account: The Follower's account numbers.
  • Country: The Follower's country of residence.
  • Join Date: The Date when the Follower first joined the offer.
  • Gain: The Follower's gain amount on the current offer.
  • Gain Chart: The Follower's current gain in graphical view.

Top Followers

 

Final Verdict

In conclusion, FXOpen PAMM account is a great service that's worth trying, both for beginners and professionals. It offers a number of features that can enhance your trading experience and make the whole process easier than ever. The best thing about it is that most operations are carried out automatically by the system. As a result, you can just focus on the trades and FXOpen will handle the rest.

If you're a beginner, you can benefit as a Follower from the user-friendly interface as well as the various PAMM offers on the platform. This service is undoubtedly a great alternative for those who have tight schedules or lack of trading experience. All you need to do is invest some money and let the Master do all the hard work for a small fee.

But if you're a professional, you can choose to become a Master to can gain considerable income from making offers and managing your Follower accounts. Decide your own conditions and earn the amount of commission that you deserve from an unlimited number of followers. So, if you are an expert and want to put your trading skills to good use, this service is definitely a must-try.

 

FXOpen is a forex brokerage that has been offering services since 2005. It is currently one of the most successful forex brokers in the world. Since the very start, FXOpen aims to make forex trading more professional, easy to access, and secure.