If (and ONLY if) the broker is reliable, PAMM accounts can give the trader some advantages.
The trader decides how much money to put into the PAMM. This lets the PAMM trader decided how much to risk on the PAMM, whether or not to diversify into several PAMMs, and usually (some brokers may have restrictions - check BEFORE using a PAMM) can pull the money out instantly. This is unlike a MAM, where the trader must surrender a password to an account to the account manager, and may have trouble quickly regaining control of the account if things go wrong.
I've never used a PAMM. I'm not sure whether traders sometimes/always/never have access to view the trades as they happen within the PAMM account.
Any PAMM participants care to fill in some more details?
I had a very bad experience with HotForex PAMM. I chose two among the top ranking and inesorably lost all in both within two months.
Looks like those traders that are among the best were only gamblers that some how got to the top positions. Losing all of the investment in a PAMM account won't happen if its in the hands of a real trader.
That about sums it all.If (and ONLY if) the broker is reliable, PAMM accounts can give the trader some advantages.
The trader decides how much money to put into the PAMM. This lets the PAMM trader decided how much to risk on the PAMM, whether or not to diversify into several PAMMs, and usually (some brokers may have restrictions - check BEFORE using a PAMM) can pull the money out instantly. This is unlike a MAM, where the trader must surrender a password to an account to the account manager, and may have trouble quickly regaining control of the account if things go wrong.
I've never used a PAMM. I'm not sure whether traders sometimes/always/never have access to view the trades as they happen within the PAMM account.
Any PAMM participants care to fill in some more details?
I had a very bad experience with HotForex PAMM. I chose two among the top ranking and inesorably lost all in both within two months.