Finance Magnates is pleased to bring you another daily digest of news and updates from the retail forex world.
In this edition, FXOpen enhances its PAMM account service, Pepperstone introduces payments via PayPal, and RoboForex allows all vetted clients unrestricted access to its Autochartist analytics tool.
FXOpen, an institutional and retail forex broker, has made improvements to the conditions of its PAMM (percent allocation management module) account service, which it launched in 2009.
The account type allows investors (dubbed ‘Slaves’ in PAMM terminology) to allocate funds to PAMM ‘Masters’ accounts. Profits and losses are then shared out among the investment accounts depending and in proportion to the amount they have invested.
Under the new conditions, there is a reduced minimum capital requirement for PAMM Masters, while slaves can now join multiple offers from different Masters.
The broker also provides a raft of tools to ensure full transparency and risk management. For example, investors are able to see a list of all PAMM Master Accounts, including their key financial parameters, such as total gain and maximum drawdown. Additionally, more detailed charts and analytical tools are available to delve into trade history, intraday trade reports and real-time updates.
Moreover, investors in PAMM accounts will enjoy a shorter trading interval of seven days, after which time profits and deposits can be withdrawn.
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In a first for Australian brokers, Pepperstone has announced that it now accepts payments via the worldwide online payments service, PayPal.
PayPal users will also benefit from a limited offer in which Pepperstone is waiving the funding fees for PayPal payments until the end of September, which amounts to a saving of 2.5%.
The new payment option represents the latest in a series of new developments for the Australian broker. In April, it introduced Direct Market Access (DMA) CFDs on both of its platforms, and further complemented its CFD offering in July with the launch of the Hong Kong 50 (HK50) and the Russell 2000 (US2000) CFDs.
Staying in the antipodes, New Zealand-based STP (straight-through processing) provider, RoboForex, has removed restrictions on access to its analytics service, Autochartist.
The tool allows users to choose methods that improve their technical market analysis, in order to help traders build and improve their trading strategies. Indeed, by analysing real-time price charts, Autochartist suggests to traders at what points to enter the market.
Its features and characteristics, now available to all vetted clients free of charge, include:
- Automatic chart analysis
- Tools to analyse volatility
- Trading signals generation
- Effectiveness statistics