What is a MAM forex account?

What is a MAM forex account?
MAM forex account is literally "Multi Account Manager".
MAM account is a little bit different from PAMM and LAMM accounts. In fact, they are very similar to each other, but it is worth to mention the difference. Generally, at first glance, MAM account is in some way more efficient than PAMM account, because you can take direct control over the trader's account. In general, MAM account is something between the PAMM account and signals service.

MAM working principle

Let's understand the principle of work. It is simple enough - you deposit money to the investor account at this or that broker. Then download MT4 terminal (you do not need to do this when investing in PAMM accounts) and select the trader. After a trader is chosen, you can already start to work. Actually, the trader works. You can watch his actions all the time. You can see what deal he has made, what position he has opened, at what cost he has opened it, what he has closed, and when. Generally speaking, you can see all actions of a trader.
Multi account manager
Multi account manager
Multi account manager
This is done in the following way: the terminal is open, of course, for the trader and for you. With the help of the server these two terminals (there can be thousands of them, depending on how many people choose this or that trader) are connected. When the trader opens a position in his terminal, it is automatically duplicated and opened in your terminal. That is, in fact, you also trade. And once you see the accounts, you see when they are opened, for what sums, what is the profit from them, etc., then you can close these accounts. If you do not like this or that position, or if you see that the profit is high enough, but the trader does not close it, you can close the offer yourself. In other words, you have full control and freedom of action. No interest, no details. Ordinary trivial semi-automatic trading. This is just perfect.

I think this service will be very interesting for beginners in the Forex market. You can do everything you want. Close a position if you want, open a position if you want, double or triple the amount. Everything is in your hands. But I would not advise investors to rely entirely on themselves. It is better to leave these actions to a professional. He sees when and what needs to be done. Sometimes it is possible to interfere in this process, for example, to increase the number of positions, but it is better to do it carefully and analyze the market.

The undoubted advantage of MAM accounts compared to PAMM accounts is that investor's funds are in his own account and are not transferred to the account of manager. The investor can disconnect from the Manager's signals at any moment. The disadvantage of MAM accounts can be considered a very small number of managers.

If you want a totally passive income and a wide choice of managing traders, then you are going straight to PAMM accounts.

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