Page Summary
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
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pip
AvaTrade is an online investment company based in Ireland. AvaTrade offers access to 1,200+ CFDs, including 55 forex pairs and 44 forex options. AVAtrade PAMM accounts allow money managers to use different trading strategies including automated trading, Expert Advisors and multiple trading sub-groups.
The AvaTrade trading platform is available as a browser-based web version (WebTrader), mobile app (AvaTradeGO), and desktop app (Mac platform). Users are allowed to implement third party integrations including MetaTrader 4, MetaTrader 5, DupliTrade, and Capitalise.ai.
AvaTrade Academy allows users access to a wide variety of trading courses in the form of quizzes, and tutorial videos.
AvaTrade charges low spreads of 0,6 pips (EUR/USD). There are no hidden commissions charged. The maximum leverage offered by the broker is 400:1.
Minimum deposit at Avatrade is $100 (360 AED). Deposits and withdrawals are available through credit/debit cards, bank wire transfers, and e-wallets (Neteller and Skrill).
AvaTrade’s customer support is available by email, phone, and live chat in both English and Arabic.
AvaTrade Key Features for Forex Traders:
- Wide Variety of Forex Pairs – access to 55 forex pairs and 44 forex options
- Broad range of third-party integrations – MetaTrader 4, MetaTrader 5, Tradingview, DupliTrade, and Capitalise.ai
- Accessibility – access through a web app (WebTrader), desktop app (Mac platform) and mobile app (AvatradeGO)
- Islamic Account Availability – AvaTrade has an Islamic swap-free account option available for Muslim traders
- Extensive Educational Materials – tutorial videos, guides, quizzes, and podcasts
- Market Research and in-depth Analysis Tools – access to a wide range of market research and analysis tools, including technical indicators, economic calendars, and extensive daily blog and analysis posts
Pros
- Great Research and Educational tools
- Great Customer support
- Good choice of social trading options
Cons
- Comparing others relatively few trading instruments are offered; offers Forex, CFDs and Binary Options
71% of retail CFD accounts lose money
2. eToro – Best PAMM Forex Broker For Beginners
Min Deposit: $50
Fees: 4.8
Assets available: 4.8
Total Fees:
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.
eToro is an investment company based in Israel. They offer access to 3,400 financial instruments, including 49 forex pairs. PAMM forex trading on eToro is available through CopyTrader (their social copy trading app). It allows a PAMM similar trading experience through copy trading. The maximum leverage available at eToro is 500:1.
eToro’s copy trading (PAMM account) features are listed below.
- Copy the trades of experienced forex traders
- Check the trading history and performance of professional tradersć
- Automated trading
- No additional fees for copy trading
eToro has two trading platforms: WebTrader (web version) and Mobile App (Android, iOS). Both have an intuitively designed interface.
eToro provides its users with a wide range of trading tools for beginners, including watchlists, extensive drawing tools, and 66 technical indicators. Users have access to educational materials in the form of video tutorials, explainer guides, courses, webinars, and podcasts.
The minimum deposit required at eToro is $50 (180AED). Deposits and withdrawals are available through PayPal, bank wire transfer, and e-wallets (Neteller and Skrill). There are no deposit fees. eToro does charge $5 withdrawal and currency conversion fees.
eToro’s customer service is available via email, phone, and live chat in English and Arabic.
eToro Key Features for Forex Traders:
- Wide Range of Available Assets – access to over 3,400 different financial instruments, including 49 forex pairs, stocks, ETFs, commodities, indices, and cryptocurrencies.
- Intuitive Trading Interface – beginner-friendly and easy to use
- Proprietary Copy Trading Features – allows users to copy the trades of professional traders.
- SmartPortfolio Investment Opportunities – pre-made thematic portfolios such as biotech, marijuana, and sustainable energy for long-term investors.
- Broad Selection of Educational Material – access to webinars, tutorial videos, and guides.
- Vast Market Research and Analysis Tools – access to valuable insights through eToro’s news and analysis section, the eToro Academy, Digest & Invest, and eToro Plus. Additionally, users have access to Trading Central research tools.
- Low PAMM fees – eToro doesn’t charge any fees to use its copy trading services. However, the broker does charge spreads, inactivity, withdrawal, and currency conversion fees.
Pros
- Access to over 4000+ tradable symbols
- Great overall market coverage
- Easy to use mobile trading app and platforms
- Industry leading social/copy trading app
- Great cryptocurrency trading features
- Responsive customer support
Cons
- Algorithmic trading not available
- Forex and CFD fees above industry average
- Education and research tools missing
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
Fees: 4.9
Assets available: 4.8
Total Fees:
Pepperstone is a forex and CFD broker based in Australia. They offer access to 1,200 financial instruments, including 60+ forex pairs. Pepperstone’s PAMM account offers customisable performance, management, allocation methods, and minimum trading volumes of 0,01 lots (micro-lots). It accepts different order types including trailing stop, close by, and close all.
Pepperstone only offers a PAMM software, but it doe not offer its own PAMM services. In other words, users have to find their own money managers to make use of PAMM features.
Trading platforms available at Pepperstone are listed below.
- TradingView
- MetaTrader 4
- MetaTrader 5
- cTrader
Pepperstone charges low spreads 0,8 pips (EUR/USD) and no commission. Pepperstone’s Razor account, spreads start at 0,1 pips (EUR/USD) plus a $3,50 commission.
Market research and analysis at Pepperstone are accessible through AutoChartist and SmartTrader Tools for MetaTrader (which includes 28 custom technical indicators to enhance technical analysis).
The minimum deposit required at Pepperstone is $200 (360 AED). Deposits and withdrawals are available through credit/debit cards (Visa and MasterCard), bank wire transfers, and PayPal.
The Pepperstone Customer Support is through email, live chat, and by phone.
Pepperstone Key Features for Forex Traders:
- Wide Range of Assets – access to over 60 forex pairs and 1,200 CFDs on shares, indices, commodities, ETFs, and cryptocurrencies.
- Intuitive Trading Interface – beginner-friendly and fully customisable user interface
- Competitive spreads and commissions – spreads of 0,1 pips on EUR/USD with Pepperstone’s Razor accounts.
- Multiple Trading Platforms – trade with TradingView, MetaTrader 4, MetaTrader 5, or cTrader.
- Broad Selection of Educational Material – access to in-depth forex and CFD trading guides and tutorial videos
- Vast Market Research and Analysis Tools – AutoChartist
- Access to External Money Managers – external money managers can set their own fees, trading structures, and allocation methods. Alternatively, they are allowed to deploy Expert Advisors and use other forms of automated trading software.
Pros
- Algorithmic trading features
- Multiple third party integrations (MT4, MT5, cTrader, Tradingview)
- Competitive fees
- Social trading features
- Excellent education and research materials
Cons
- Limited video educational resources
- Limited advanced order types
- Customer not available in Arabic
74-89% of retail CFD accounts lose money
4. IC Markets – Best PAMM Broker For Real-Time Reporting
Min Deposit: $200
Fees: 4.7
Assets available: 3.6
Total Fees:
IC Markets is an Australian forex and CFD broker based in Sydney. It has a variety of trading platforms including MetaTrader 4 and 5, webIRESS, and ProDeal. IC Markets users have access to 2,250 financial instruments, including 65 forex pairs.
IC Market’s PAMM account has an intuitive (fully customisable) interface with real-time reporting (both performance and commissions). The account is directly connected with MetaTrader 4 Equinix server, allowing quick trade execution.
IC Markets PAMM acount offers 10 allocation methods, including allocations by volume and P/L. Money managers are allowed to deploy Expert Advisors. Money Managers are required to have at least 5 clients and over $20,000 in equity in order to be eligible for the IC Markets PAMM program.
Alternatively, IC Markets offers copy trading services via its cTrader platform. It allows users to automate trading strategies by copying professional traders.
IC Markets charges low spreads of 0,0 pips (EUR/USD) and a commission of $7 per round-traded lot.
The minimum deposit at IC Markets is $200 (360 AED). Deposits and withdrawals are available through bank wire transfers, PayPal, credit /debit cards, Skrill, Neteller, UnionPay, Bpay, FasaPay, and Polo.
IC Markets Key Features for Forex Traders:
- Wide Range of Available Assets – access to over 65 forex pairs and 2,250 CFDs on shares, indices, commodities, ETFs, futures, bonds, and cryptocurrencies.
- Intuitive Trading Interface – fully customisable user interface
- Great Accessibility – through desktop PCs, laptops, and mobile devices.
- Low Spreads (ECN spreads) – 0,0 pips on EUR/USD
- Multiple Trading Platforms – MetaTrader 4, MetaTrader 5, and cTrader.
- Broad Selection of Educational Material – access to in-depth forex and CFD trading guides, tutorial videos, webinars, podcasts, and glossaries.
- Vast Market Research and Analysis Tools – advanced MT4 trading tools, and custom technical indicators
- External Money Managers – IC Markets allows users to connect with external money managers through its PAMM program. These can set their own fees, trading structures, and allocation methods. Alternatively, they are allowed to deploy Expert Advisors, trade micro-lots, and use other forms of automated trading software.
Pros
- Multiple account types and trading platforms
- Trade with up to 1:500 leverage
- Unlimited demo account
- Free access to Equinix NY4 VPS server
Cons
- No educational material
- Only CFD, forex, and crypto trading
- No research and analysis tools
73.59% of retail CFD accounts lose money
5. Swissquote – Best PAMM Broker For Research
Min Deposit: 0
Fees: 3.0
Assets available: 4.9
Total Fees:
84.5% of retail investor accounts lose money when trading CFDs with this provider.
Swissquote is a Swiss investment company, founded in 2000. They offer access to over 3 million financial instruments, including 130 forex pairs. Swissquote users can choose between MAM, LAMM and PAMM accounts on all platforms. Those accounts provide a variety of customisation options to money managers including monitoring tools in real time, market research updates, flexible compensation structures and aggregated liquidity (from 15 tier-1 providers).
Forex trading platforms available on Swissquote are listed below.
- Advanced Trader ( 50+ intelligent charting tools, 80+ technical indicators, and synchronised layouts)
- MetaTrader 4
- MetaTrader 5
- Mobile app
Swissquote charges competitive spreads between 0,4 to 0,5 pips (EUR/USD) without any hidden commissions or fees.
Swissquote has no minimum deposit requirement to open an account. Deposit methods include bank wire transfers and credit/debit card deposits.
The Swissquote customer support is available via email, live chat, and by phone in English, Arabic.
Swissquote Key Features for Forex Traders:
- Wide Range of Available Assets – access to over 130 forex pairs and 3 million other investment products, including stocks, ETFs, indices, bonds, futures, commodities, and cryptocurrencies.
- Intuitive Trading Interface – Swissquote’s proprietary trading platforms provides complex order execution, advanced tools and indicators with real-time TradingView charts, and a fully customisable trading interface.
- Great Accessibility – through desktop PCs, laptops, and mobile devices.
- Low Spreads – 0,4 pips EUR/USD on Swissquote’s Prime accounts.
- Multiple Trading Platforms – users have access to Swissquote’s proprietary eTrading, Robo-Advisor, and Advanced trader platforms, as well as MetaTrader 4.
- Broad Selection of Educational Material – newsroom, tutorial videos, guides, and courses.
- Vast Market Research and Analysis Tools – daily market overview, a world news feed, and fundamental analysis platform.
- External Money Managers – Swissquote allows connectio with external money managers through its MAM/PAMM program. External money managers can set their own fees, trading structures, and allocation methods.
Pros
- Great choice of trading instruments offered
- Very good research and education
- Great For Mobile Trading
Cons
- Few deposit and withdrawal option
84.5% of retail investor accounts lose money when trading CFDs with this provider.
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.
| Broker | AvaTrade | eToro | PepperStone | IC Markets | Swissquote |
| 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.
Conclusion
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 |
FAQ
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.
Disclaimer
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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Stefan Grasic (Dipl.-Jur) is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level. Stefan began trading in 2010 as a college student. Money was tight,…