As technology advances, an increasing number of trading platforms join the financial markets. PMAM (Personal Multi-Account Manager) is one of them. So, just what is PMAM？ This versatile and sophisticated platform is ideal for professional traders and investment portfolio managers that need to handle several accounts, online orders, and positions with a single click. The tool also provides clear activity data as well as real-time market price and rate monitoring.
What features and advantages does PMAM provide？
As previously said, PMAM allows you to trade and manage several trading accounts at the same time with simplicity. PMAM is the most adaptable platform presently in use in the market, and it is ideal for money managers or professional traders looking for an easy-to-understand money management solution.
Trading is more manageable and stress-free with PMAM since it eliminates the effort of managing many MT4 accounts, enabling traders to concentrate on trading on the MT4 Master Account.
Overall, traders may manage their positions, orders, and equity online with one-click input, manage limitless accounts, and monitor the prices and exchange rates of financial products using PMAM software. They can also see comprehensive activity reports. Microsoft Windows 98 or later is required to run the program.
PMAM is specifically developed to provide experienced traders with all of the software tools they need to quickly and efficiently allocate and distribute money under a master account in real trading settings.
PMAM supports the following volume-based allocation methods:
-
Lot distribution. This is used to allocate volume from the master account to sub-accounts depending on predefined criteria. This will be proportional to the lot sizes set for each sub-account. Lot allocation also allows for unfixed lot size trading on the master account.
-
Proportionate allocation based on balance. This is used to calculate the magnitude of the master account's trading volume depending on the balance of the sub-accounts. This is a routine operation.
-
Percentage of equity allocation This sort of allocation is utilized when the user needs to allocate to subaccounts based on a percentage. The goal is to make it simple to define the risk of each account. The percent option specifies the proportion of equity to be exchanged for each sub-account.
-
Percentage allocation based on p/l. When the master position is closed, this is utilized by a deposit/withdrawal transaction, not by opening positions on the sub-accounts. This approach, like the previous one, is utilized when the customer desires allocation to other accounts on a percentage basis based on a predefined percent parameter.
-
Allocation in percentage terms. This approach is used to allocate the volume of the master transaction to the sub-accounts based on their set percent parameter. The allocation will take the form of a proportion of the master trade volume.
-
Equity allocation in proportion. Proportion is computed automatically in this manner, as it is in the proportion balance allocation method. The main difference is that equity is employed instead of balance. There are no extra adjustments necessary here.
-
Allocation is based on equal risk. With this strategy, the problem of regulating margin on sub-accounts is addressed. Because of the low margin level, subaccounts are occasionally suspended. This is the only strategy that takes the margin level into account. This technique, however, allows you to define the minimum percent level for each sub-account.
-
p/l proportional allocation No positions are open, as with the percent allocation via the p/l technique, but the deposit/withdrawal transaction is made to the subaccounts after the master trade is concluded. This is utilized when the user demands subaccount allocation in proportion to their balance.
How to Select the Most Appropriate Platform
When you first start trading forex online, it might be difficult to choose the ideal platform since there are so many of them. These are some of the characteristics that traders look for in a platform, from how simple it is to browse to how sophisticated its features are, how easy it is to grasp, or how high the quality of its tools is.
Here are a few other things to think about before deciding on a trading platform:
-
Trustworthiness. Choose a platform provided by a reputable broker with years of industry experience.
-
Performance. Choosing a dependable platform with consistent performance and operations is also critical.
-
The UI is intuitive. Choose a platform with basic functionality and an easy-to-use UI.
-
Customer service. Make certain that you get guidance at all stages of your trading adventure.
-
Features. Choose a platform that best matches your wants and trading needs. A range of characteristics should also be considered.
Why should you use PMAM with IronFX？
IronFX is a well-known CFD broker. PMAM is created exclusively for the company's customers by professional in-house developers. Other sophisticated platforms available from IronFX include the MT4 trading platform, the TradeCopier platform, and VPS hosting. The broker stays up to date on market news and trends and aims to offer services that satisfy the demands of all traders. Regardless of your trading experience, you may get access to the IronFX Trading School to listen to podcasts, view live webinars on numerous industry issues, locate content for beginners and specialists, and much more.
Finally, IronFX provides access to over 500 financial instruments across six asset classes, including forex, metals, indexes, shares, commodities, and futures. Clients may take advantage of ultra-low spreads, adjustable leverage, competitive conditions, and 24-hour customer service.
More educational news like this may be found on the WikiFX News Page (https://www.wikifx.com/en/news.html).
If you haven't downloaded the WikiFX app, you may access news on your smartphone. It is available for free download on the App Store and Google Play Store.
