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Looking for PAMM broker advice & recommendation

  • #41
  • Dec 16, 2015 10:12pm Dec 16, 2015 10:12pm
Quoting cedsobey
This is a very interesting debate, thank you for all the contributions. I am also looking into the legal implications. To be a fund manager in my country I need to register as a financial services provider, have 3 years experience, relevant qualification, do examinations etc... So as MKFX mentions can I open an MAM account in AU for instance then I can accept clients from anywhere but AU or is this still not a good idea? Does one need to be regulated to be a PAMM manager? According to my local regulations one needs to be regulated even to offer...
I've been through this process and have both regulated and unregulated MAM's. Unless you plan on doing public marketing I'd suggest you find a well known broker that doesn't require you to be regulated and run the MAM/PAMM through that.

I'm ASIC regulated and it's not only a pain in the ass, it's very expensive to maintain. I pay $3k per month, a 0.2 pip rebate and $50 per client in addition to external audit fees (thousands of dollars per year).

So unless you NEED it, I'd stick to the unregulated side.
  • #42
  • Jan 24, 2016 5:17am Jan 24, 2016 5:17am
Quoting shrike
{quote} I would have psychological problems sending any amount bigger than lunch money to an anonymous PO-box on an island called Anguilla.
Me too, but apparently, there is a sucker born every minute....
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #43
  • Jan 24, 2016 9:26am Jan 24, 2016 9:26am
Quoting FatCat33
{quote} I've been through this process and have both regulated and unregulated MAM's. Unless you plan on doing public marketing I'd suggest you find a well known broker that doesn't require you to be regulated and run the MAM/PAMM through that. I'm ASIC regulated and it's not only a pain in the ass, it's very expensive to maintain. I pay $3k per month, a 0.2 pip rebate and $50 per client in addition to external audit fees (thousands of dollars per year). So unless you NEED it, I'd stick to the unregulated side.
Hi Fatcat,
Thanks for sharing your experience! Sorry I only saw your reply now. The modern world is crazy, paperwork and qualifications are far more important than getting the job done or having the ability to do it. If only regulations and integrity were directly proportional
  • #45
  • Edited 3:16pm Jan 6, 2018 2:46pm | Edited 3:16pm
Quoting undergroundz
I'm not a fan of PAMM but I'm trading with HotForex and it just launched the new PAMM v2 with some advantages. I think you should try it! http://betapamm.hotforex.com/
That went well! Blank page.
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #46
  • Last Post: Jan 6, 2018 2:51pm Jan 6, 2018 2:51pm
Quoting BobGnarly
I run a fund with PellucidFX they are new and unregulated. I have done a bunch of withdraws and deposits with no issues. You can set up a PAMM account in about 5 minutes and since there is no regulation you have no worries. You set your own fees and minimum requirements. It was founded by a guy from Canada and it's still small but growing. ForexProdigy is my fund which is #1 in the ranking systems I attached a screenshot of the fund rankings, people just review who they want and deposit, they have full control over the withdraws and deposits. I...
Only 4 years and blank website. They were from Anguilla.

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
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