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PAMM fund management
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Author:  dudest [ Thu Aug 25, 2016 2:15 pm ]
Post subject:  PAMM fund management
Hallo peeps,

Several close friends have been asking me to trade for them for some time now.
After shying away from it for a long time, I've decided to go ahead and make it happen ( I feel the time is right )
I would also like to open it up to anyone else who may be interested
Particulars:

Broker: HotForex [ https://www.hotforex.com ]
Manager Account: 1113681 ( dudest )
Minimum Deposit: 500.0 USD
Success Fee: 15.0 %
Trading period: 1 Month
Penalty Fee: 3.0%

Joining:

To open an Investor a/c, visit: https://v2pamm.hotforex.com/hf/en/inves ... stors.html
Requirements: Proof of Identity (e.g Passport scan) and Proof of Address (e.g Utility Bill)


Tentative Start Date: Thursday September 1st 2016 ( 1 week from now )

** My a/c is currently not listed under Fund Managers as I'm yet to fund it. This should be ready by Tue 30th next week
6th September 2016

Above arrangement with HotForex was not suitable for US and EU residents, and was therefore scrapped

NEW ARRANGEMENT ( inclusive for US and EU residents )

Particulars:

Broker: Tallinex [ https://www.tallinex.com ]
Manager Account: 206791
Minimum Deposit: 500 USD
Success Fee: 20 %
Trading period: 1 Month

Joining: To open an Investor a/c under my management, visit: http://www.tallinex.com/open-pro-managed-account?i=206791&s=206791

Requirements: Proof of Identity (e.g Passport scan), Proof of Address (e.g Utility Bill), Proof of Banking (Debit/Credit Card scan)

Proposed Start Date: Tuesday 13th September 2016 ( 1 week from now )

Cheers!
Author:  dudest [ Thu Aug 25, 2016 3:05 pm ]
Post subject:  How does a PAMM work?
Have received this query. Thought an infographic would be the best way to explain

Courtesy of: https://justforex.com/blog/pamm-infographic/

==
pamm-accounts-eng.png
.
Author:  marcoFF [ Mon Aug 29, 2016 7:38 am ]
Post subject:  How does a PAMM work?
dudest » Thu Aug 25, 2016 4:05 pm wrote:Have received this query. Thought an infographic would be the best way to explain

Courtesy of: https://justforex.com/blog/pamm-infographic/

==


.
Hi dudest, I asked to te hotforex support and for the europe PAMM service is unaviable in Europe (I live in Italy).
There is other service we can use?

Thanks,
Marco.
Author:  dudest [ Mon Aug 29, 2016 4:50 pm ]
Post subject:  How does a PAMM work?
marcoFF » Mon Aug 29, 2016 10:38 am wrote:
Hi dudest, I asked to te hotforex support and for the europe PAMM service is unaviable in Europe (I live in Italy).
There is other service we can use?

Thanks,
Marco.
Hi Marco,

That's strange... Their general disclaimer (pasted below) does not mention any EU countries.

Lemme check with them and get back to you

Cheers

==

Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice. Please read the full Risk Disclosure. HotForex does not accept clients from the U.S., Canada, Sudan, Syria and North Korea.
Author:  marcoFF [ Tue Aug 30, 2016 6:31 am ]
Post subject:  How does a PAMM work?
dudest » Mon Aug 29, 2016 5:50 pm wrote:
marcoFF » Mon Aug 29, 2016 10:38 am wrote:
Hi dudest, I asked to te hotforex support and for the europe PAMM service is unaviable in Europe (I live in Italy).
There is other service we can use?

Thanks,
Marco.
Hi Marco,

That's strange... Their general disclaimer (pasted below) does not mention any EU countries.

Lemme check with them and get back to you

Cheers

==

Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice. Please read the full Risk Disclosure. HotForex does not accept clients from the U.S., Canada, Sudan, Syria and North Korea.
Hi dudest, I have simply ask information to open an account to use PAMM in the live chat help and they tell me it s a service unavailable in Europe.. That's all I know.
In any case, PAMM or another service I'm in :smile:
Author:  go4pips [ Tue Aug 30, 2016 9:36 am ]
Post subject:  PAMM fund management
Good morning, i was just reading the following in your post above " HotForex does not accept clients from the U.S., Canada, Sudan, Syria and North Korea."
In this case I will not able to participate, hmmmm.....
please let me know if there is any other way.
Thanks.
E.
Author:  dudest [ Tue Aug 30, 2016 2:18 pm ]
Post subject:  How does a PAMM work?
marcoFF » Tue Aug 30, 2016 9:31 am wrote:
Hi dudest, I have simply ask information to open an account to use PAMM in the live chat help and they tell me it s a service unavailable in Europe.. That's all I know.
In any case, PAMM or another service I'm in :smile:
Hi Marco,

You're right, got the below response from them

Thank you for contacting us.

Please note that HotForex does not accept clients from following countries: USA, Canada, Japan, Cuba, Congo, Syria, North Korea, Sudan, Myanmar, Afghanistan, Haiti, Libya, Ivory Coast, Iraq, Liberia, Eritrea, Somalia, Palestine, Kosovo, Puerto Rico, Belarus, Guinea, Yemen, Bosnia and Herzegovina, Ukraine, Saint Vincent, Belgium, Northern Mariana Islands.

Additionally, please note that due to recent internal policy change, PAMM services has been discontinued to all European clients.

Should you require any further assistance we remain at your disposal.


That is just plain shady of them! :x

I'm looking at other options that are OK with EU. Keep you posted!
Author:  kingbee [ Tue Aug 30, 2016 2:37 pm ]
Post subject:  PAMM fund management
Hi Dudest, I see Hotforex do not do a lot countries in Europe etc, have you checked out Global prime, I think they have Mam and Pamm services.
Author:  dudest [ Tue Aug 30, 2016 2:39 pm ]
Post subject:  PAMM fund management
go4pips » Tue Aug 30, 2016 12:36 pm wrote:Good morning, i was just reading the following in your post above " HotForex does not accept clients from the U.S., Canada, Sudan, Syria and North Korea."
In this case I will not able to participate, hmmmm.....
please let me know if there is any other way.
Thanks.
E.
Hi E!

It's definitely tricky where the US is involved...

Clint @ Babypips maintains an excellent list of brokers who accept US clients

TradersWay is probably the best among them, but doesn't have a PAMM service ( nothing about it on their website at least )

The rest have ridiculous or not-very-good spread/commission terms. And mostly totally unregulated

PS: Aussie brokers are generally excellent ( e.g. Global Prime, IC Markets, AxiTrader, Bully Pepperstone). Unfortunately, they don't accept US residents and their minimum deposit requirements for PAMM are high ( 4k-5k USD per investor ) [ compared to, say, HotForex: min 500 USD per investor ]

However, where there's a will, there's a way. Searching out workarounds, will get in touch soon

:hi:
Author:  dudest [ Tue Aug 30, 2016 2:45 pm ]
Post subject:  PAMM fund management
kingbee » Tue Aug 30, 2016 5:37 pm wrote:Hi Dudest, I see Hotforex do not do a lot countries in Europe etc, have you checked out Global prime, I think they have Mam and Pamm services.
Hey KB!
PS: Aussie brokers are generally excellent ( e.g. Global Prime, IC Markets, AxiTrader, Bully Bully Pepperstone). Unfortunately, they don't accept US residents and their minimum deposit requirements for PAMM are high ( 4k-5k USD per investor ) [ compared to, say, HotForex: min 500 USD per investor ]
GP is 5k USD per investor
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