Trading forex with PAMM accounts is popular among traders and investors in UAE who lack on time, expertise or just want a professional to trade on their behalf. With the growing number of local and offshore brokers, it can be tough for users to identify unreliable providers and choose the best forex broker for their needs.
To guide users successfully through the selection process, we have researched, compared and analyzed different providers and their services in UAE to create a list of top choices. To satisfy the needs of traders searching for PAMM accounts to pool money from different investors, or investors looking for PAMM account to invest in forex, our analysis considers fees (management, performance), minimum investment, PAMM program performance, trading platforms & tools, number of forex pairs, deposit and withdrawals, research & education and customer support.
This guide assesses 33 online brokers available in UAE to help users review and find the top options for their needs. To get started, a list of the best forex brokers in UAE with PAMM accounts is shared below.
Top 5 PAMM Forex Brokers in UAE
- AVAtrade – Best Overall PAMM Account Forex Broker
- eToro – Top PAMM Forex Broker For Beginners
- Pepperstone – Ideal CFD PAMM Forex Broker
- IC Markets – Great PAMM Broker For Real-Time Reporting
- Swissquote – Best PAMM Broker For Research
Best PAMM Forex Brokers in UAE Reviewed
The top 5 PAMM forex brokers in UAE are reviewed below, comparing pros, cons, and key features.
1. AVAtrade – Best Overall PAMM Account Forex Broker
Min Deposit: $100
Assets available: 4.9
Total Fees: 0.9 pip
71% of retail CFD accounts lose money
2. eToro – Best PAMM Forex Broker For Beginners
Min Deposit: $50
Assets available: 4.8
Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk.
3. Pepperstone – Best CFD PAMM Forex Broker
Min Deposit: $0
Assets available: 4.8
74-89% of retail CFD accounts lose money
4. IC Markets – Best PAMM Broker For Real-Time Reporting
Min Deposit: $200
Assets available: 3.6
73.59% of retail CFD accounts lose money
5. Swissquote – Best PAMM Broker For Research
Tips To Choose The Ideal PAMM Forex Brokers in UAE
Criteria to consider to select the optimal PAMM forex broker in UAE are listed below.
- PAMM Account Availability and Performance. Past and expected performance of brokers PAMM accounts need to be considered. Traders should prefer brokers with better performance statistics.
- Fees. Spreads, commissions and management fees should be considered. Brokers with lover overall fees should be preffered.
- Minimum Investment Requirements. The minimum deposit amount required by the broker to participate in MAMM programs need to be considered.
- Availability of Forex Currency Pairs. Broker with better coverage of forex trading instruments should be preferred. The most common instruments offered on PAMM account include forex pairs, forex CFDs, micro-lots.
- Deposit and Withdrawal Methods. Broker with a wide range of deposit and withdrawal options should be preferred. The most common methods to be considered are bank wire transfers, credit/debit cards and e-payments (Paypal, Neteller)
- Halal Compliance. Islamic traders should check the compatibility of PAMM investments with Sharia law.
The Top PAMM Forex Broker Compared
Key features of the highest rated PAMM forex brokers in UAE are compared in the table below.
|Nr. of Forex Pairs||55 + 44 FX Options||49||60+||65||130|
|Spread on EUR/USD||From 0,9 pips||From 1,0 pips||From 0,8 pips or 0,1 pips on ECN Account||From 0,0 pips +$7 Commission||From 0,4 pips|
|Leverage||Up to 400:1||Up to 400:1||Up to 500:1||Up to 500:1||Up to 100:1|
|Trading Platforms||WebTrader, AvaOptions, AvaTradeGO, MetaTrader 4, MetaTrader 5||Multi-Asset Platform, CopyTrader||TradingView, MetaTrader 4, MetaTrader 5, cTrader||MetaTrader 4, MetaTrader 5, cTrader, cTrader Automate, cTrader Copy Trading||Advanced Trader, MetaTrader 4, MetaTrader 5|
|Regulators||MiFID, CySEC, ASIC, FSC, FSA, ADGM, FRSA||CySEC, FCA||FCA, ASIC, DFSA||SCB, FSA, CySEC, ASIC||FCA|
|Educational Resources||Guides, platform tutorials, videos, glossary, indicators||News and analysis, eToro Academy, eToro Plus, Diges & Invest||Tutorial guides, webinars, videos||Tutorials, platform guides, Live TV, webinar, videos, blog, economic calendar, forex glossary||Courses, webinars, eBooks|
|Customer Support||Email, live chat, phone||Email, live chat, phone||Email, live chat, phone||Email, live chat, phone, TeamViewer||Email, live chat, phone|
|Type of PAMM System||PAMM||CopyTrading||PAMM + MAM||MAM||PAMM|
|Min. Investment Amount||$100||$50||$5,000||$20,000||$1,000|
|Own Money Managers||x||✓||✓||x||✓|
What Are PAMM Accounts?
PAMM (Percentage Allocation Management Module) accounts are trading accounts that allow investors to allocate funds to professional traders (money manager) in order for them to trade on their behalf.
In other words, PAMM accounts allow professional traders to trade the forex markets with funds allocated by multiple investors. The broker’s PAMM system automatically pays out each investor according to the money manager’s profits, losses, and investor’s percentage-based investment.
PAMM accounts are popular among forex traders who lack on time, knowledge or expertise. PAMM accounts allow them to increase their chances of higher returns on their investments.
What Are RAMM Accounts?
RAMM (Risk Allocation Management Model) accounts are a special type of investment account that enables users to manage the risk exposure of their forex trades. In other words, RAMM accounts allow traders to invest in trading strategies used by professional money managers.
These money managers use unique algorithms to allocate the invested funds across multiple trades and positions based on the user’s predetermined risk level. The goal of RAMM accounts is to generate potentially higher returns and minimize losses through the use of efficient risk management and a robust trading algorithms.
What Is The Difference Between RAMM and PAMM Accounts?
The main difference between PAMM and RAMM accounts is their investment allocation. RAMM accounts allocate investments through by the use of a proprietary algorithm that automatically adjusts the risk allocation based on the trader’s risk appetite. With a PAMM account, on the other hand, investors can allocate a percentage of their investment funds into multiple trading accounts managed by different professional traders or money managers.
When Should a PAMM Account Be Used and When Should a RAMM Account Be Used?
A RAMM account should be used if the money manager increased responsibility is required. RAMM accounts allow investing money into a special account type based on a predefined risk reward structure.
PAMM accounts should be used to diversify capital across multiple accounts.
What Are MAM Accounts?
MAM (Multi-Account Manager) accounts are a special type of investment accounts that allow money managers to execute forex trades on behalf of multiple clients through a single account (master account). In other words, MAM account allow money managers to allocate funds across multiple sub-accounts, according to a predetermined allocation method. The money manager can allocate funds through equal allocation or percentage-based allocation.
MAM accounts allow multi-account management and quick trade execution while maintaining complete control over the general investment strategy used to trade the accounts.
How Are PAMM Accounts Regulated in the UAE?
PAMM accounts are regulated by the Securities and Commodities Authority (SCA). Brokers that offer PAMM account must comply with the SCA regulatory requirements.
With the variety of online brokers that offer PAMM accounts, it can be difficult to analyze and compare their services to find the perfect provider for certain needs. To make the ideal choice for their needs, traders need to asses essential data and research them, considering important criteria.
To help users save time and feel safe in the process, we have compared and evaluated the top choices for different types of traders. The results of our assessment of the best PAMM forex brokers in UAE are wrapped up in the table below.
|RANK||BROKER||GENERAL||PLATFORM SCORE||BEST FOR||WEBSITE|
|#1||AVAtrade||Good choice of social trading options||4,9/5||Best Overall PAMM Account Forex Broker||Official website|
|#2||eToro||Industry leading social/copy trading app||4,9/5||Best PAMM Forex Broker For Beginners||Official website|
|#3||Pepperstone||Competitive fees||4,9/5||Best CFD PAMM Forex Broker||Official website|
|#4||IC Markets||Unlimited demo account||4,5/5||Best PAMM Broker For Real-Time Reporting||Official website|
|#5||Swissquote||Great For Mobile Trading||4,2/5||Best PAMM Broker For Research||Official website|
What average returns to expect from PAMM accounts?
The average annual returns of PAMM forex account range from 5-10% (on conservative accounts) to 50% on aggressive accounts.
Are PAMM accounts legal in UAE?
Yes, the usage of PAMM accounts offered by regulated online brokers is legal in UAE.
What are forex PAMM accounts?
PAMM accounts (Percentage Allocation Management Module) are special trading accounts offered by brokers or investment managers that allow investors to allocate funds to be managed by professional traders (money manager).
How to get a forex PAMM account?
The most common way to open a forex PAMM account in UAE is through an online broker. Users need to fill-in required information, deposit the minimum required amount and select the desired investment manager.
How do forex PAMM accounts differ?
Forex accounts differ based on minimum investment requirements, fees, trading platforms, performance tracking and money managers.
Can users withdraw money from PAMM accounts at any time?
Yes, PAMM account holders can withdraw money from their account at any time by opening a withdrawal request. The withdrawal request needs to get approved by the money manager.
How to choose a PAMM account money manager?
Online brokers that offer PAMM accounts allow users to evaluated and choose account money manager based on their past performance, education, reputation (reviews and feedback), size of managed funds and associated investors.
What type of investors are PAMM account best suited for?
PAMM forex account are most commonly used by unexperienced investors lacking time and knowledge and advanced traders looking for deverzification.
Are PAMM accounts a great option to generate passive income?
Yes, PAMM forex accounts allow investors to generate passive income as they do not require active involvement and decision making.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
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