To start with, a trading platform is a software system that allows people to trade various financial assets. It enables investors to open, liquidate, and manage market positions online using a financial intermediary, such as an online broker. Brokers often give free or discounted online trading platforms in exchange for maintaining a funded account and/or conducting a specific number of transactions per month. The best trading systems mix robust functionality with low expenses.
Personal Multi Account Manager (PMAM) is one of the industry’s most flexible and sophisticated systems, ideal for both expert traders and money managers who can trade and handle numerous MT4 accounts at the same time. The platform provides customers with an easy-to-use money management system that includes advanced tools for optimal market execution.
PMAM: Benefits & features
The PMAM trading platform simplifies trading by removing the hassle of managing several accounts. It allows traders to concentrate on trading using the MetaTrader 4 Master Account while PMAM handles all of the other activities.
- Online order management, positions, and equity
- One-click order input
- Manage an infinite number of accounts
- Price tracking of financial instruments and currency rates
- Activity updates
- Microsoft Windows 98 or above is required
PMAM: allocation methods
PMAM supports eight volume-based allocation methods:
- Allocation of lots. This is used to allocate volume from the master account to the sub-accounts depending on their predefined criteria. This will be proportional to the specified lot sizes for each sub-account. Lot allocation also permits trading on the master account with variable lot sizes.
- Allocation based on the balance. This is used to calculate the magnitude of the master account’s trading volume based on the balances of the sub-accounts. This is a routine operation.
- Percentage allocation of equity. This sort of allocation is employed when the user has to allocate to sub-accounts based on a percentage. The idea is to make defining the risk of each account as simple as possible. The % option specifies the percentage of the equity to be exchanged for each sub-account.
- P/l percentage allocation. When the master position is closed, this is used by a deposit/withdrawal transaction, not by initiating positions on the sub-accounts. This approach, like the previous one, is utilized when the user desires allocation to other accounts on a percentage basis based on a predefined% parameter.
- Allocation in percentages. This method is used to split the volume of the master trade across the sub-accounts depending on the percentage parameter they have defined. The payout will be calculated as a proportion of the total trading volume.
- Equity allocation in proportion. The percentage is computed automatically in this manner, as it is in the proportion balance allocation method. The primary distinction is that equity is used instead of balance. There are no more modifications required here.
- Equal risk allocation. Using this strategy, the issue of regulating margin on sub-accounts is addressed. Sub-accounts are occasionally terminated because of low margin levels. This is the only method that considers margin level. This approach, however, allows you to define the minimum% level for each sub-account.
- P/l proportional allocation. No positions are active, as with the % allocation by p/l technique, but the deposit/withdrawal transaction is made to the sub-accounts after the master trade is concluded. This is used when the user wants the sub-accounts to be allocated proportionately to their balance.
Why use PMAM?
As technology progresses, more trading platforms enter the financial markets. PMAM, that is, Personal Multi Account Manager, is part of this advancement. So, just what is PMAM? This versatile and efficient trading platform is ideal for experienced traders and investment portfolio managers who wish to handle several accounts, online orders, and positions with a single click. The application also gives clear activity statistics as well as real-time market price and rate monitoring.
PMAM was created exclusively for experienced traders to offer them all of the software tools they need to rapidly and efficiently allocate and distribute cash under a master account in real-world trading conditions.
Choosing a trading platform
When you first start trading forex online, it might be difficult to choose the ideal platform because there are so many of them. These are some of the aspects that traders seek in a platform, ranging from how easy it is to navigate to how complex its features are, how simple it is to understand, and how good the quality of its tools is.
- Reliability. Select a platform provided by a reputable broker with years of industry experience.
- Effectiveness. Selecting a robust platform with consistent performance and operations is also critical.
- User-friendly interface. Choose a platform with minimal features and an easy-to-use user interface.
- Client support. Be certain that you receive guidance at all stages of your trading adventure.
- Characteristics. Adhere to a platform that better matches your wants and trading needs. A range of features should also be considered.
Trade using PMAM with IronFX
IronFX is a well-known CFD broker. PMAM is created exclusively for the company’s clients by professional in-house developers. Other advanced 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 provide services that satisfy the demands of all traders. Regardless of your trading experience, you may gain 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.
Lastly, IronFX offers approximately 500 financial products in six asset classes: forex, metals, indices, equities, commodities, and futures. Clients may benefit from ultra-low spreads, variable leverage, competitive conditions, and 24-hour customer assistance.
