NordFX Launches PAMM Accounts for MetaTrader 4

NordFX, an international foreign exchange (forex) broker, announced this Wednesday that it has added a new service to its offering - PAMM (Percent Allocation Management Module) accounts.

What are PAMM accounts? PAMMs are designed for traders who don’t have enough knowledge to trade on the FX market, or don’t have enough time, as the service gives inexperienced traders the chance to invest funds without trading their money themselves.

Specifically, PAMMs allow traders to allocate a certain amount of cash to investment managers. The managers then invest those funds in FX trades and, if they make a profit, they take a commission and payout – in proportion to the amount that they put in – to the investors that gave them money.

Through NordFX’s PAMM service, customers of the broker have access to a range of trading tools on Pro and Zero accounts, as well as a number of financial instruments. This includes 33 currency pairs, metals, 15 crypto pairs, four cryptocurrency indexes, and CFD contracts for major world stock indices and oil, the statement said.

Trading is carried out on the MetaTrader 4 platform, and the firm offers maximum Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term of 1:1000 for PAMM accounts. The minimum non-withdrawable amount of the manager’s own investments is $50.

“There are no requirements from the company for investors, and the managing trader determines the minimum amount for investments, as well as other terms, in his offer,” the statement released today said.

FX and Crypto Brokers add PAMMs to Offering

NordFX is the latest broker to offer PAMMs, but definitely not the first. As Finance Magnates reported, Retail brokerage FXOpen began offering this service from the end of February when its clients upgrade to the MetaTrader 5 platform.

However, PAMMs aren’t just used in the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term industry but have also become a service offering for cryptocurrency traders. One such company to do so was retail forex broker Fibo Group, which launched a new service to add PAMM accounts to its crypto offering last year, a move that effectively allows digital currency traders to become money managers for other users.