NordFX Launches New Service for MetaTrader 4
The international foreign exchange broker NordFX revealed on Wednesday, April 17, 2019, that they’d added a new service to its exchange program MetaTrader 4. This new service is called the Percent Allocation Management Module or for short “PAMM”. This service is available starting today.
What is PAMM?
The new “PAMM” service has been created for the investor who doesn’t have significant knowledge on how to trade in the FX Market space or for the investor that doesn’t have the time. Traders using the new service won’t have to trade themselves, but instead only have funds at their disposal. By depositing funds into the new service, an investment manager will then take those funds and trade them for you in the FX market space. The manager that makes a profit on those funds will receive a commission and then hand you the rest of the payout.
Clients of the MetaTrader 4 NordFX Exchange will receive a range of tools for trading with the new PAMM Service. Those tools include pairing cryptocurrencies, an index for all crypto coins on MetaTrader 4 and access to CFD Contracts. However, clients using PAMM will have a maximum leverage of 1:1000.
The client will always have the final say over what the investment manager can trade in terms of minimum and maximum amounts. This service radically simplifies the trading experience and somewhat makes it into a form of legalised stock exchange gambling.
NordFX isn’t the first to provide PAMMs
NordFX is one of the largest regulated exchanges, and as such, many believe they are the first to provide PAMMs to clients. However, this is far from the case. It was only back in February that FX-Open, a retail broker announced their PAMM service.
PAMMs are no longer exclusive to the Forex industry as well, they have now begun to enter the cryptocurrency space and have allowed for those crypto investors to receive the compelling benefits of this revolutionary service.