Masters and Followers
Any FXOpen client can use PAMM Technology as a Master or a Follower. All you have to do is decide, which role you are going to take, based on your goals, skills, trading experience and available time.
PAMM for Masters
Masters are experienced traders who are willing to share their strategies for other clients to follow, and in return they receive a fee or a share of profit.
Benefits of a PAMM Master's Account
- An unlimited number of Followers
FXOpen PAMM Technology gives you the opportunity to offer your strategy to an unlimited number of Followers, while the trading is done from a single MT4.
- Multiple Offers with different parameters
The Master can create several Offers with different conditions to cater for Followers with different capital and risk tolerance.
- Automatic profit/loss allocation
FXOpen PAMM Technology automatically shares profits and losses between the Master and his Followers. This guarantees that the Master will be paid the fees and share of profit on time and strictly according to the Offer conditions which allows the Master to focus on his primary activity – successful trading.
- Master's Performance Monitoring
A detailed performance monitoring system allows the Master to showcase his/her past trading results and attract new Followers. Potential Followers can choose a suitable Master based on visual and easy-to-understand charts, displaying the Master's trading results.
For both sides profitable trading is the key to success. FXOpen will take care of the rest.
PAMM for Followers
A Follower is a trader who probably lacks time, skill or desire for full time Forex trading. The Master’s trading strategy will automatically be replicated in the Follower’s trading account in respect of these selected funds. This allows Followers to receive profit without fully engaging themselves into Forex trading.
Benefits of PAMM for Followers
- Full control over funding and withdrawing
The Follower can add money to be used in the PAMM account or withdraw these funds at any moment of time without any permission from the Master. The Master has no access to adding or withdrawing the Follower's money whatsoever. So the scenario when a dishonest Master prevents a Follower from withdrawing money or fails to pay the profit is completely impossible.
- Automatic Allocation of Profits/Losses and Fees
All calculations (allocation of profit and fees) are made automatically, strictly on time and in accordance with the Offer Conditions that were accepted by the Followers.
- Public monitoring of the Master's trading activity
Choosing a lucrative Master’s strategy is a tough decision, however FXOpen's public monitoring system makes this task easier. With our visual and easy-to-understand charts both novice and experienced Followers can find a suitable Master.