With technology constantly evolving more and more trading platforms have entered the financial markets. Personal Multi Account Manager (PMAM) is one of them. So, what exactly is PMAM? This flexible and advanced platform is suitable for professional traders and investment portfolio managers who want to manage multiple accounts, online orders and positions with one click. The platform also offers transparent activity reports as well as real-time monitoring of prices and rates of the market.
What features and benefits does PMAM offer?
As already discussed, with PMAM you can trade and manage multiple trading accounts at the same time with great ease. In fact, PMAM is the most flexible platform currently used in the industry and is suited to money managers or professional traders, who can get access to an easy-to-understand solution on money management.
Trading is easier to manage with PMAM and it is stress-free as it takes away the hassle of handling multiple MT4 accounts, allowing traders to focus on trading on the MT4 Master Account.
All in all, with PMAM software traders can manage their positions, orders and equity online with one-click entry, they can manage unlimited accounts and monitor the prices and forex rates of financial instruments. They can also get access to detailed activity reports. The software is supported by Microsoft Windows 98 or higher.
PMAM is specially designed to give experienced traders all the necessary software tools to allocate and distribute funds under master account in live trading conditions fast and easily.
There are 8 allocation methods supported by PMAM based on volume:
- Lot allocation. This is used to separate the volume from the master account to the sub accounts based on their predetermined parameters. This will be in proportion to the predetermined lot sizes for each sub account. Lot allocation also enables trading on the master account with unfixed lot sizes.
- Proportional allocation by balance. This is used to measure the size of the trade volume of the master account based on the sub accounts’ balance. This is an automatic procedure.
- Equity percent allocation. When the user requires to allocate to sub accounts based on percentage, this type of allocation is used. The purpose is for the risk of each account to be easily defined. The % parameter is used to define the percentage of equity that will be traded for each sub accounts.
- Percent allocation by p/l. This is used by a deposit/withdrawal transaction when the master position is closed and not by opening positions on the sub accounts. Similar to the following allocation method, this is used when the user requires allocation to the other accounts on a percentage basis based on the predetermined % parameter.
- Percent allocation. This method is used to separate the master trade’s volume to the sub accounts based on their predetermined % parameter. The allocation will occur as a percentage of the volume of the master trade.
- Proportional allocation by equity. Proportion in this method is calculated automatically like in the proportion balance allocation method. The only difference here is that equity is used rather than balance. No additional settings are required here.
- Allocation by equal risk. Addressing the issue of controlling margin on the sub accounts is introduced with this method. Low margin level is the reason why sometimes the sub accounts are stopped. This is the only method that takes into consideration the margin level. However, setting the minimal % level for every sub account is possible with this method.
- Proportional allocation by p/l. Like with the percent allocation by p/l method, no positions are open, but the deposit/withdrawal transaction is made to the sub accounts once the master trade is closed. This is used when the user requires allocation to the sub accounts in proportion to their balanced.
How to choose the best platform
Choosing the best platform is rather intimidating when you get into online forex trading, as there are plenty of them available online. From checking how easy a platform to navigate is, to how advanced its features are, how easy to understand is, or how good the quality of its tools are, these are some of the factors that traders look for in a platform.
Below are a few more to consider before choosing a trading platform:
- Trustworthiness. Choose a platform that is offered by a reliable broker with years of market expertise.
- Performance. Choosing a reliable platform with stable performance and operations is also of high importance.
- Intuitive interface. Go for a platform that has simple functionalities and an easy-to-understand interface.
- Customer care. Make sure you get assistance at any point of your trading journey.
- Features. Stick to a platform that better meets your needs and trading requirements. Also, variety of features should play an important role.
Why choose PMAM with IronFX?
IronFX is a leading broker in CFD trading. PMAM is designed by expert in-house developers specifically for the company’s clients. IronFX offers other advanced platforms such as the MT4 trading platform, TradeCopier platform and VPS hosting. The broker is always abreast of market news and trends and strives to provide services that meet all traders’ needs. Irrespective of your trading experience, you can get access to the IronFX Trading School where you can listen to podcasts, watch live webinars on various topics of the industry, find material about beginners and professionals and many more.
Last but not least, IronFX offers access to more than 500 financial instruments on 6 asset classes including forex, metals, indices, shares, commodities and futures. Clients can benefit from ultra-low spreads, flexible leverage, competitive conditions and around-the-clock customer support.