Percentage Allocation Management Module (PAMM) accounts are managed investment accounts with pooled funds. In this article, we reveal the pros and cons of our 15 Best PAMM Forex Brokers and we review the features, tools, platforms, trading conditions and instruments these brokers offer.
PAMM accounts allow you to make investments without actually trading and it is very similar to copy trading, except that PAMM accounts consist of pooled funds whereas copytrading accounts are individual accounts.
When you open a PAMM account, a money manager will trade on your behalf and any profits made will be distributed based on the contributions you made.
The money manager will also deposit funds into the PAMM account and will receive a predetermined percentage of profits as remuneration for managing your funds.
The advantage of using PAMM accounts/portfolios and experienced money managers is that you can invest in real markets and use real money even with no experience and a professional investor will manage your funds.
You will also free up a lot of time because you are not responsible for doing research and analysis (but monitoring trends and news is always a good idea).
Some brokers offer individual PAMM accounts as well as PAMM portfolios, so you are not confined to using this type of account in one way only.
The most common reason why people use these types of accounts is that instead of using leverage to get more market exposure, you can pool your funds with other investors to enter the markets with more capital.
This can still be risky if you open a PAMM account with an unregulated broker, which is why we recommend considering one of the brokers in this article.
AvaTrade
USD 100 MiFID, FSA, ASIC, BVI, FFAJ, FSCA, ADMG, FRSA 📱 Platforms MetaTrader 4, MetaTrader 5 ₿ Crypto Yes 💵 Account Currency AUD, EUR, USD, GBP, CHF Yes 1:400 🛒 Instruments Forex, Bonds, Stocks, Commodities, ETFs, Indices, Crypto 🏛️ Visit Broker
Minimum Deposit
Regulators
Islamic Account
Leverage
You can use the AvaTrade swap-free account to trade Halal Gold and Silver, Oil, Indices and Forex.
This account cannot be used for trading cryptocurrencies.
You can use the AvaTrade swap-free account to trade on MT4 and no swap fees will be charged, only an admin fee.
Forex pairs on AvaTrade have tight spreads from 0 pips but swap-free accounts have slightly higher spreads.
AvaTrade Pros and Cons:
| ✔️Pros | ❌Cons |
| Tight spreads | No USA clients |
| 4 account types | |
| Highly regulated | |
eToro
Overall Rating USD 50 FCA, CySEC, ASIC 📱 Platforms eToro app, OpenBook, eToro CopyTrade ₿ Crypto Yes 💵 Account Currency USD, AUD, CNY, CAD, GBP, EUR, JPY, RUB Yes 1:30 🛒 Instruments Stocks, Commodities, Indices, Forex, ETFs, Cryptocurrencies 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
eToro has designed an incredible trading academy for beginners or experienced traders who would like to refine their skills.
This educational content appears to be free to use by the public and covers many different topics, such as crypto, investing, trading and more.
eToro offers a user-friendly website with exceptional educational content and a variety of markets to trade in.
eToro is used by more than 17 million traders around the world and is also available to US citizens.
eToro Pros and Cons:
| ✔️Pros | ❌Cons |
| Supports CopyTrading | Difficult to find detailed account information |
| Supports Social trading | Forex fees are high |
| Flexible leverage | Withdrawal fee of $5 |
| Free stock and ETF trading in EU |
OANDA
Overall Rating Open and fund your OANDA account (min$25) and get a welcome bonus up to $5,000!
3.9/5
OANDA is a popular stock trading and CFD broker that was founded in 1996.
OANDA offers powerful trading platforms and a 50% welcome bonus up to $5,000.
OANDA provides an economic calendar, technical analysis reports, market news and forex news.
OANDA Pros and Cons:
| ✔️Pros | ❌Cons |
| No minimum deposit | Low leverage |
| 70+ forex pairs | |
| Referral rewards | |
| Negative Balance protection |
FP Markets
Overall Rating USD 100 ASIC, CySEC 📱 Platforms MetaTrader 4, MetaTrader 5 ₿ Crypto Yes 💵 Account Currency EUR, GBP, USD, AUD, CAD, SGD, HKD, JPY, NZD, CHF Yes 1:500 🛒 Instruments Forex, Shares, Metals, Indices, Commodities, crypto 🏛️ Visit Broker
4.7/5
Minimum Deposit Regulators Islamic Account Leverage
FP Markets is a CFD broker that was founded in 2005.
FP Markets offers more than 10,000 instruments and spreads from 0 pips.
FP Markets is recommended for social traders and copy trading, and is a great option for beginners.
FP Markets Pros and Cons:
| ✔️Pros | ❌Cons |
| 8+ Base currencies | Withdrawal fees |
| Tier-1 regulations | No fixed spreads |
| Trading bonuses |
BDSwiss
USD 200 CySec, FSC, FSA, BaFin, NFA 📱 Platforms MT4, MT5, BDSwiss app Yes 💵 Account Currency EUR, USD, GBP, PLN, CHF, SEK, DKK, NOK Yes 1:500 🛒 Instruments Forex, Commodities, Shares, Indices, CryptocurrenciesMinimum Deposit Regulators Islamic Account Leverage
BDSwiss was founded in 2012 and has more than 1.5 million clients.
BDSwiss is an ECN and STP broker and offers 250+ instruments.
BDSwiss provides daily market analysis and live education and is a great option for beginners.
BDSwiss Pros and Cons:
| ✔️Pros | ❌Cons |
| Commission-free trading | No trading bonuses |
| CySEC-regulated | No USA clients |
| 6+ base currencies | |
| Beginner-friendly |
BlackBull Markets
Overall Rating USD 0 FMA 📱 Platforms MT4, MT5 ₿ Crypto No 💵 Account Currency USD, EUR, GBP, AUD, NZD, SGD, CAD, JPY, ZAR Yes 1:500 🛒 Instruments 26,000+ Forex, Indices, Commodities, Metals, Energy 🏛️ Visit Broker Blackbull markets
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
The Blackbull Markets Standard and Prime accounts can be used as swap-free accounts.
Micro lots are available on the swap-free accounts and they can be used to trade all available instruments.
The Blackbull Markets swap-free account also allows for leverage of 1:500.
BlackBull Markets Pros and Cons:
| 6+ base currencies | Not many regulations |
| Trading bonuses | |
| 23,000+ instruments |
RoboForex
Overall Rating USD 10 IFSC, CySEC 📱 Platforms MT4, MT5, cTrader, R Stocks Trader ₿ Crypto Yes 💵 Account Currency USD, EUR, RUB, CNY, GOLD, BTC Yes 1:2000 🛒 Instruments Forex, Indices, Stocks, Metals, Commodities, ETFs 🏛️ Visit Broker
4.7/5
Minimum Deposit Regulators Islamic Account Leverage
The RoboForex swap-free account can be used on MT4.
You can use the MT4 and Cent accounts as swap-free accounts
RoboForex Pros and Cons:
| Low minimum deposit | No USA clients |
| Multiple platforms | No tier-1 regulations |
| beginner-friendly |
ThinkMarkets
Overall Rating USD 0 FSCA, FCA, ASIC, BMA 📱 Platforms MT4, MT5, ThinkTrader ₿ Crypto Yes 💵 Account Currency ZAR, AUD, NZD, USD, EUR, GBP, SGD, CAD, CHF Yes 1:400 🛒 Instruments Forex, Bonds, Stocks, Commodities, ETFs, Indices, Crypto 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
ThinkMarkets offers two types of accounts and more than 1,600 instruments.
ThinkMarkets is a beginner-friendly broker and provides plenty of material for beginners.
ThinkMarkets provides 24/7 customer support.
You can fund your account using Visa, Mastercard, Skrill, Ozow and Bankwire.
ThinkMarkets Pros and Cons:
| ✔️Pros | ❌Cons |
| 38+ forex pairs | No US clients |
| Commission-free trading | Inactivity fees |
| No minimum deposit |
Dukascopy
USD 100 FINMA, FCMC, JFSA 📱 Platforms JForex, MT4 ₿ Crypto Yes 💵 Account Currency SEK, SGD, TRY, XAU, ZAR, USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, RUB, CNH Yes 1:2000 🛒 Instruments Forex, Metals, Energy, Crypto, Indexes, Bonds, Stocks, ETFs 🏛️ Visit BrokerMinimum Deposit Regulators Islamic Account Leverage
Dukascopy is regulated by FINMA, FCMC and JFSA, and is a licensed member of the Swiss Banking Group.
A minimum of $100 must be deposited to trade with Dukascopy and accounts can be funded using more than 20 currencies, including EUR, GBP, AUD and ZAR.
Dukascopy offers a variety of accounts and a wide range of Metals, Stocks, Indexes, Cryptocurrencies, Energy, Forex pairs, ETFs and Bonds.
Dukascopy Pros and Cons:
| ✔️Pros | ❌Cons |
| 20+ account currencies | High Commission fees |
| Leverage up to 1:2000 | Withdrawals are not free |
| Advanced market research features | No USA clients |
| Automated trading allowed |
FxPro
Overall Rating USD 100 FCA, CySEC, FSCA 📱 Platforms FxPro platform, cTrader, MT4, MT5 Yes 💵 Account Currency EUR, USD, GBP, CHF, PLN, AUD, JPY, ZAR Yes 📊 Leverage 1:200 🛒 Instruments Forex, Metals, Indices, Shares, Energies
4.6/5
Minimum Deposit Regulators Islamic Account
FxPro was founded in 2006 and has over 2 million clients.
FxPro is regulated by CySEC, FCA and FSCA and is based in the UK.
A minimum deposit of $100 will be enough to open an account with FxPro and you can fund your account using PLN, USD, GBP, AUD, CHF, ZAR, EUR or JPY.
FxPro offers more than 260 instruments and you can trade on the FxPro platform, cTrader, MT4 and MT5.
FxPro Pros and Cons:
| ✔️Pros | ❌Cons |
| CySEC-regulated | Higher minimum deposit |
| 6+ Base currencies | Inactivity fees |
| Multiple platforms supported |
Pepperstone
Overall Rating USD 200 ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN 📱 Platforms MT4, MT5, cTrader ₿ Crypto Yes 💵 Account Currency USD, GBP Yes Low 🛒 Instruments Forex, Crypto, Shares, ETFs, Indices, Commodities 🏛️ Visit Broker
4.0/5
Minimum Deposit Regulators Islamic Account Leverage
Pepperstone is a regulated Forex broker that facilitates the trading of Forex, Indices, CFD Commodities, Cryptocurrencies and Currency Indices. Trades are enabled with access to the MetaTrader 4 and 5 platforms, as well as cTrader and a range of advanced trading tools and Social trading features.
Pepperstone provides comprehensive educational material on trading and new traders can use trading guides, video tutorials and demo accounts to enjoy a risk-free trading experience.
Trading accounts support multiple base currencies, and Scalping and Hedging are allowed. Pepperstone offers zero-commission trading with low spreads and each account is designed based on the trader’s experience.
Pepperstone Pros and Cons:
| ✔️Pros | ❌Cons |
| Regulated by FCA and ASIC | Limited product offering |
| Low fees on forex and equity indices | No data for research and technical analysis |
| Deposits and withdrawals are free | No investor protection for non-EU citizens |
HFM (HotForex)
Overall Rating USD 5 FCA, FSA, FSCA, DFSA, CySEC, FSC 📱 Platfoms MT4, MT5 ₿ Crypto No 💵 Account Currency USD, ZAR, USD, NGN Yes 1:1000 🛒 Instruments Forex, Metals, Energies, Indices, Shares, Commodities, Bonds, Stocks, ETFs 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
HFM offers 5 flexible account types for every type of trader, along with 6 funding methods, 11 trading platforms, 18 trading tools and more than 1,200 tradable instruments.
HFM is regulated by the FSCA, the FCA, CySEC, the FSA and the DFSA.
HFM allows the leveraging of trading accounts by a maximum of 1:1000 and spreads start from 0.1 on the EURUSD. There are zero fees on deposits and there is also a zero commission account.
The product offering at HFM includes Forex, Metals, Indices, Energies, Shares, Commodities, Cryptocurrencies, Bonds, DMA Stocks and ETFs.
HFM Pros and Cons:
| ✔️Pros | ❌Cons |
| Withdrawals and deposits are free | Zero Account has high commission fees |
| Highly regulated and compliant | Instruments on offer seem limited |
| Tight spreads on EURUSD | Only supports MetaTrader |
FBS
16,000,000+ Traders Overall Rating USD 1 CySEC, IFSC, FSCA, ASIC 📱 Platfroms MT4, MT5, FBS trader, CopyTrade ₿ Crypto Yes 💵 Account Currency EUR, USD Yes 1:30 🛒 Instruments Forex, Indices, Stocks, Metals, Energies, Crypto Welcome bonus 🏛️ Visit Broker FBS has launched a new type of account specifically for trading cryptocurrencies. The new Crypto account has over 100 instruments with digital currencies. BTC, LTC, and ETH are just some of the instruments that will be available for trading against other cryptocurrencies or against more traditional currencies, commodities, and other instruments.
4.7/5
Minimum Deposit Regulators Islamic Account Leverage
FBS is a CySEC and IFSC-Regulated Forex broker with over a decade of experience in the industry and several awards to its name.
FBS provides trading solutions to more than 190 countries globally and new traders have access to a comprehensive library of education resources.
A minimum deposit of $1 can be used to activate the FBC Cent Account, and multiple other account options are offered for all types of traders.
FBS Pros and Cons:
| ✔️Pros | ❌Cons |
| Minimum deposit is low | Spreads are wider than most brokers |
| Trade executions speeds are ultra-fast | Deposits and withdrawals are not free |
| Demo account is free and easy to use | |
| Customer service is reliable |
FIBO Group
FIBO Group is a CySEC-regulated forex broker that was founded in 1998.
A minimum deposit of $50 is required to open an account with FIBO Group and accounts can be funded using RUR, GLD, CHF, GBP, ETH, EUR, BTC or USD.
FIBO Group accounts are compatible with MT4, MT5 and cTrader and they offer a variety of Metals, Forex, Crypto and CFDs.
FIBO Group Pros and Cons:
| ✔️Pros | ❌Cons |
| Flexible accounts | Not beginner-friendly |
| Multilingual customer support | No US clients |
| Tight spreads | |
| Zero-commission trading |
Capital.com
Overall Rating USD 20 FCA, ASIC, CySEC 📱 Platforms MT4, TradingView, Capital.com CFD app ₿ Crypto Yes 💵 Account Currency GBP, USD, EUR, PLN, AUD No 📊 Leverage 1:30 🛒 Instruments Crypto, Forex, Commodities, Indices, Shares 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account
Capital.com offers 3 types of accounts and more than 4,000 Forex pairs, Commodities, Shares, Cryptocurrencies and Indices.
Capital.com is regulated by FCA, ASIC and CySEC and has more than 1.8 million clients.
A minimum deposit of $20 is required to open an account and you can fund your account using AUD EUR, GBP, USD or PLN.
Capital.com Pros and Cons:
| ✔️Pros | ❌Cons |
| Low fees | Low leverage |
| Low minimum deposit | No swap-free accounts |
| 4,000+ instruments | No tutorials on trading platforms |
| Tier-1 regulations |
Conclusion
PAMM accounts can be used by anyone and offer a flexible, safe way for all types of traders and investors to get exposure to the markets.
You can pool your funds into individual PAMM accounts or portfolios and a professional money manager will open and close trades on your behalf.
Any profits made on PAMM accounts will be paid directly to you and anyone else who contributed to the account, so this is a great way to invest with friends and family.
We hope that this review of the 15 Best PAMM Forex Brokers will help you find a broker that aligns with your trading goals so that you can trade with confidence.
Good luck with your trading!
FAQ
What does “PAMM” mean?
PAMM is the name given to Percentage Allocation Management Module trading systems
What is a PAMM account?
PAMM accounts allow you to make investments without actually trading and it is very similar to copy trading, except that PAMM accounts consist of pooled funds whereas copytrading accounts are individual accounts.
Is it safe to trade with PAMM brokers?
Yes, as long as they are regulated
What are the perks of using a PAMM account?
The advantage of using PAMM accounts/portfolios and experienced money managers is that you can invest in real markets and use real money even with no experience and a professional investor will manage your funds.
When you open a PAMM account, a money manager will trade on your behalf and any profits made will be distributed based on the contributions you made.
The money manager will also deposit funds into the PAMM account and will receive a predetermined percentage of profits as remuneration for managing your funds.
