To PAMM or not to PAMM

12 February 2020

Looking into PAMM and its benefits: To PAMM or not to PAMM – that's the question. While PAMM solutions aren't exactly groundbreaking, they remain a vital offering for brokers. So why do some brokers still not provide it? Is it due to past failures, inadequate technology, or cost constraints? Let's explore the advantages of offering a PAMM solution to your traders and let you decide if it's worth considering for the next decade.

Why does your brokerage need a PAMM?

Interestingly, one of the most frequently asked questions our sales executives received in 2019 was about the value of PAMM. While most brokers are aware of PAMM, they often hesitate to incorporate it. Let's break down the reasons why you need PAMM for your brokerage to thrive:

  1. Stay competitive: To get ahead, you need to compete. Many reputable brokerages already offer PAMM solutions. By comparing and testing various options, you can make an informed decision and implement one. Clients also compare brokers and choose the best option available. Without a PAMM solution, you risk being left behind.
  2.  Attract money managers: Adding a PAMM solution will draw money managers to your FX business. By treating them well and offering competitive remuneration, they can bring their clients to you. This mutually beneficial relationship can enhance your reputation and generate great returns.
  3. Enhance reputation: When you see competitors offering a wide range of products and solutions, it's easy to assume they have a big budget and investor support. To compete, you can gradually build your offering. A PAMM solution demonstrates your commitment to helping traders succeed and boosts your reputation.
  4. Increase profitability: Money managers attract new traders, while existing clients who struggled with trading can benefit from an alternative approach. With a well-marketed PAMM solution, you can drive more first-time deposits, increase sales in your retention department, and boost your profits significantly.

How does FX Back Office's PAMM work?

Creating a PAMM solution requires time, expertise, and significant investment. Our tested and refined PAMM solution has been used by clients for over 5 years. Within the Client Area, your traders can access a PAMM menu featuring different PAMM Managers. They can review each manager's information, including location, trading experience, current trades, trade volume, and performance stats. Investing is as simple as selecting a PAMM Manager and transferring the desired amount.

For money managers, the process is equally straightforward. They create a PAMM strategy using a form in their Client Area, including the PAMM name, description, commission, and more. Once approved, the PAMM is added to the list of available options for your traders. Before going live with PAMM, our team will provide comprehensive guidance and manuals for your convenience. Our PAMM solution can also be customized to meet your specific needs.

How to add our PAMM to your brokerage?

If you're already using our Forex CRM, implementing our PAMM solution will be a seamless process taking just a few days. If you have your own CRM or use another provider and prefer an outsourced, fully functional, and highly automated PAMM solution at an affordable price, feel free to get in touch with us!