Page Summary
Trading forex with PAMM accounts is popular among traders and investors in UAE who lack on time, expertise or just want a professional to trade on their behalf. With the growing number of local and offshore brokers, it can be tough for users to identify unreliable providers and choose the best forex broker for their needs.
To guide users successfully through the selection process, we have researched, compared and analyzed different providers and their services in UAE to create a list of top choices. To satisfy the needs of traders searching for PAMM accounts to pool money from different investors, or investors looking for PAMM account to invest in forex, our analysis considers fees (management, performance), minimum investment, PAMM program performance, trading platforms & tools, number of forex pairs, deposit and withdrawals, research & education and customer support.
This guide assesses 33 online brokers available in UAE to help users review and find the top options for their needs. To get started, a list of the best forex brokers in UAE with PAMM accounts is shared below.
Top 5 PAMM Forex Brokers in UAE
- AVAtrade – Best Overall PAMM Account Forex Broker
- Pepperstone – Ideal CFD PAMM Forex Broker
- Dukascopy – Best MAM/PAMM Trading platform features
- Multibank – Best trading conditions (fees)
- Fusion Markets – Best for automated trading
Best PAMM Forex Brokers in UAE Reviewed
The top 5 PAMM forex brokers in UAE are reviewed below, comparing pros, cons, and key features.
1. AVAtrade – Best Overall PAMM Account Forex Broker
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pips
AvaTrade is an online investment company based in Ireland. AvaTrade offers access to 1,200+ CFDs, including 55 forex pairs and 44 forex options. AVAtrade PAMM accounts allow money managers to use different trading strategies including automated trading, Expert Advisors and multiple trading sub-groups.
The AvaTrade trading platform is available as a browser-based web version (WebTrader), mobile app (AvaTradeGO), and desktop app (Mac platform). Users are allowed to implement third party integrations including MetaTrader 4, MetaTrader 5, DupliTrade, and Capitalise.ai.
AvaTrade Academy allows users access to a wide variety of trading courses in the form of quizzes, and tutorial videos.
AvaTrade charges low spreads of 0,6 pips (EUR/USD). There are no hidden commissions charged. The maximum leverage offered by the broker is 400:1.
Minimum deposit at Avatrade is $100 (360 AED). Deposits and withdrawals are available through credit/debit cards, bank wire transfers, and e-wallets (Neteller and Skrill).
AvaTrade’s customer support is available by email, phone, and live chat in both English and Arabic.
AvaTrade Key Features for Forex Traders:
- Wide Variety of Forex Pairs – access to 55 forex pairs and 44 forex options
- Broad range of third-party integrations – MetaTrader 4, MetaTrader 5, Tradingview, DupliTrade, and Capitalise.ai
- Accessibility – access through a web app (WebTrader), desktop app (Mac platform) and mobile app (AvatradeGO)
- Islamic Account Availability – AvaTrade has an Islamic swap-free account option available for Muslim traders
- Extensive Educational Materials – tutorial videos, guides, quizzes, and podcasts
- Market Research and in-depth Analysis Tools – access to a wide range of market research and analysis tools, including technical indicators, economic calendars, and extensive daily blog and analysis posts
Pros
- Great Research and Educational tools
- Great Customer support
- Good choice of social trading options
Cons
- Comparing others relatively few trading instruments are offered; offers Forex, CFDs and Binary Options
71% of retail CFD accounts lose money
2. Pepperstone – Best CFD PAMM Forex Broker
Min Deposit: $5,000
Fees: 4.9
Assets available: 4.8
Total Fees: 0.8 pips
Pepperstone is a forex and CFD broker based in Australia. They offer access to 1,200 financial instruments, including 60+ forex pairs. Pepperstone’s PAMM account offers customisable performance, management, allocation methods, and minimum trading volumes of 0,01 lots (micro-lots). It accepts different order types including trailing stop, close by, and close all.
Pepperstone only offers a PAMM software, but it doe not offer its own PAMM services. In other words, users have to find their own money managers to make use of PAMM features.
Trading platforms available at Pepperstone are listed below.
- TradingView
- MetaTrader 4
- MetaTrader 5
- cTrader
Pepperstone charges low spreads 0,8 pips (EUR/USD) and no commission. Pepperstone’s Razor account, spreads start at 0,1 pips (EUR/USD) plus a $3,50 commission.
Market research and analysis at Pepperstone are accessible through AutoChartist and SmartTrader Tools for MetaTrader (which includes 28 custom technical indicators to enhance technical analysis).
The minimum deposit required at Pepperstone is $200 (360 AED). Deposits and withdrawals are available through credit/debit cards (Visa and MasterCard), bank wire transfers, and PayPal.
The Pepperstone Customer Support is through email, live chat, and by phone.
Pepperstone Key Features for Forex Traders:
- Wide Range of Assets – access to over 60 forex pairs and 1,200 CFDs on shares, indices, commodities, ETFs, and cryptocurrencies.
- Intuitive Trading Interface – beginner-friendly and fully customisable user interface
- Competitive spreads and commissions – spreads of 0,1 pips on EUR/USD with Pepperstone’s Razor accounts.
- Multiple Trading Platforms – trade with TradingView, MetaTrader 4, MetaTrader 5, or cTrader.
- Broad Selection of Educational Material – access to in-depth forex and CFD trading guides and tutorial videos
- Vast Market Research and Analysis Tools – AutoChartist
- Access to External Money Managers – external money managers can set their own fees, trading structures, and allocation methods. Alternatively, they are allowed to deploy Expert Advisors and use other forms of automated trading software.
Pros
- Algorithmic trading features
- Multiple third party integrations (MT4, MT5, cTrader, Tradingview)
- Competitive fees
- Social trading features
- Excellent education and research materials
Cons
- Limited video educational resources
- Limited advanced order types
- Customer not available in Arabic
74-89% of retail CFD accounts lose money
3. Dukascopy – Best MAM/PAMM Trading platform features
Dukascopy is an online bank and trading platform from Switzerland founded in 2004. Dukascopy allows users access to over 1,000 CFDs, 60+ forex pairs, 30 binary option pairs, and 12 cryptocurrencies.
Dukascopy PAMM accounts allow users to appoint an external fund manager who trades on their behalf.
The external manager only has access to the trading account, and the user controls the account’s funds.
At Dukascopy, managed accounts only support forex trading with the option to request gold (XAU) and silver (XAG) trading.
Dukascopy’s trading platforms include MetaTrader 4, MetaTrader 5, and its proprietary web-based trading platform JForex. Automated trading is available through external third-party integrations, such as Visual JForex, the bank’s FIX API, or via external programmers.
Additionally, Dukascopy provides a wide range of educational materials like blog posts, explainer videos, and quizzes.
Dukascopy charges competitive spreads starting from 0,2 pips (on EUR/USD) and offers commission-free CFD trading. PAMM management fees are decided by the user and fund manager. Dukascopy charges between $7,50 and $52,50 commission per million USD traded, depending on the total net deposit of the user.
The maximum leverage available is 100:1, which can be lowered upon request. Supported payment methods include bank wire transfers, credit cards, e-wallets (Neteller and Skrill), and cryptocurrencies like Bitcoin, Ethereum, and Tether.
Dukascopy’s customer support is available by email, phone, and live chat in English. For any questions, requests, and instructions related to live trading, the broker suggests calling +371 67 399 000, while for all other inquiries, they suggest sending a message through live chat.
Dukascopy Key Features for Forex Traders:
- Broad Range of Forex Pairs – Users can access 60 currency pairs at Dukascopy.
- Multiple Trading Platforms – Dukascopy has multiple available trading platforms, including MetaTrader 4, 5, and JForex.
- Wide Selection of Trading Tools – Such as Virtual JForex Strategy Builder, dynamic charting tools, and extensive technical analysis tools.
- Automated Trading Supported – Automated trading via Expert Advisors (EAs), the broker’s FIX API, and external programming is supported by Dukascopy.
- Islamic Account Availability – Dukascopy allows traders and investors of the Muslim faith to open swap-free Islamic accounts.
- LP PAMM Account Management Services – Dukascopy offers PAMM account management services and several income-generating programs.
Pros
- PAMM services and other income-generating programs
- Trusted Swiss bank since 2004
- Great range of trading tools
Cons
- Dukascopy’s available financial instruments are 1,000, which is low compared to other platforms.
75,2% of retail CFD accounts lose money.
4. Multibank – Best trading conditions (fees)
Min Deposit: $50
Fees: 5.0
Assets available: 4.8
Total Fees: 0.8 pips
MultiBank is the largest and most regulated financial derivatives institution worldwide. The company was founded in 2005, is of Californian origin, and is Dubai-based. It allows UAE traders to access over 15,000 shares, indices, metals, commodities, and digital assets. Additionally, traders can trade 55 forex pairs.
MultiBank’s MAM software and PAMM accounts (Percentage Allocation Management Module) allow users to appoint fund managers who overlook and manage multiple accounts from a single account. Traders and asset managers have access to a user-friendly interface and can manage multiple trading accounts simultaneously.
MultiBank has many available trading platforms, including MetaTrader 4 and 5, WebTrader MetaTrader 4 and 5, and MEX Social Trading. Automated trading via Expert Advisors and APIs is supported.
MultiBank users can access various trading educational material in video courses, Ebooks, and guides.
The broker charges low spreads from 0,3 pips (on EUR/USD) and allows users to trade CFDs commission-free with up to 500:1 leverage. Additionally, ECN account holders are subject to a $3,00 commission per lot per trade plus spread fees.
MultiBank accepts many international payment methods, including debit and credit cards, bank wire transfers, e-wallets, and cryptocurrencies. Additionally, the broker accepts local payment methods, such as Boleto, Pagsmile, and Praxis.
The MultiBank customer support is available 24/7 in multiple languages, including English and Arabic, via email, phone, and live chat.
MultiBank Key Features for Forex Traders:
- Wide Selection of Forex Pairs – Users can trade 55 forex pairs at MultiBank.
- Broad Range of Trading Platforms – MultiBank provides access to multiple trading platforms, including MetaTrader 4 and 5, WebTrader MetaTrader 4 and 5, and the MEX Social Trading platform.
- Vast Selection of Supported Payment Methods – MultiBank accepts various payment options, including debit and credit cards, e-wallets, bank transfers, and cryptocurrencies.
- Free VPS Hosting – MultiBank offers a free Virtual Private Server (VPS) to all its customers.
- World’s Most Heavily Regulated Broker – MultiBank is the world’s most heavily regulated broker, regulated by 11 financial regulators across 5 continents.
- Islamic Account Availability – Muslim users can access an Islamic, swap-free account where no swaps or rollover interest is charged on overnight positions.
Pros
- MAM and PAMM management services
- 5-Decimal swap quotations
- World’s most heavily regulated broker
Cons
- No investor protection for UAE traders
74-89% of retail CFD accounts lose money.
74-89% of retail CFD accounts lose money
5. Fusion Markets – Best for automated trading
Min Deposit: $0
Fees: 4.9
Assets available: 2.0
Total Fees: 0.9 pips
Fusion Markets is an Australian low-cost forex and CFD broker founded in 2017. It provides users access to over 250 financial instruments, including US shares, metals, cryptocurrencies, energies and soft commodities, indices, and more than 90 currency pairs.
Fusion Markets is the best PAMM broker for automated trading, allowing users to use Expert Advisors (EAs) from external sources, such as MyFxbook and the MetaTrader Market. With its MetaFX and Fusion Markets MAM accounts, users or money managers can trade across unlimited trading accounts simultaneously.
Fusion Markets’ PAMM and MAM services provide flexibility with order types, as users can choose allocation by lot, percentage, or equity. The total use of Expert Advisors, including on the client side, is possible, and all trading styles and financial instruments are allowed.
Fusion Markets has multiple trading platforms, including MetaTrader 4 and 5, MetaTrader 4 mobile apps, Webtrader for MetaTrader 4, Multi Account Manager, and cTrader Desktop, Mobile, and Web. Additionally, users can connect external third-party integrations like DupliTrade to automate their trades and conduct social trading.
Apart from a wide range of trading platforms, Fusion Markets provides its users access to a wide range of trading tools, including analyst views, technical insights, and Market Buzz, an AI scraper that scans thousands of articles daily to provide users with accurate trader sentiment data, allowing them to make more informed trading decisions.
Additional trading tools include trading calculators, live and historical spread data, a free Forex VPS, and an economic calendar.
Fusion Markets charges low spreads, with its average EUR/USD spread clocking in at 0,92 pips—commission-free CFD trading with a $2,25 commission per lot per trade on the broker’s ZERO accounts. Fusion Markets has no non-trading fees, such as deposit, withdrawal, account, and inactivity fees.
The maximum leverage offered at Fusion Markets is 30:1 for retail traders and 500:1 for institutional traders. No minimum deposit is required to start live trading at Fusion Markets. Supported payment methods to fund accounts include credit and debit cards, bank wire transfers, e-wallets, and cryptocurrencies.
Fusion Market’s customer support is available around the clock in English via email, phone, and live chat.
Fusion Markets Key Features for Forex Traders:
- Extensive Selection of Forex Pairs – Fusion Markets provides users access to over 90 forex pairs.
- Multiple Trading Platforms – Including MetaTrader 4 and 5, MetaTrader 4 mobile apps, Webtrader for MetaTrader 4, Multi Account Manager, and cTrader Desktop, Mobile, and web
- Wide Variety of Trading Tools – Users can access trading tools, such as analyst views, technical insights, and Market Buzz.
- Low Trading Fees – Fusion Markets has low trading fees, starting from 0,2 pips on EUR/USD and $2,25 per side commission on its ZERO ECN accounts.
- Loads of Trading Resources – Including trading calculators, economic calendars, live and historical spread data, and a free forex trading VPS.
- Islamic Account Availability – Fusion Markets has swap-free accounts for Muslim traders who want to trade according to Sharia law.
Pros
- Low trading and non-trading fees
- Multiple trading platforms
- Wide variety of trading tools
Cons
- No investor protection for UAE traders
- Little educational tools
- Limited amount of financial instruments compared to other brokers
74-89% of retail CFD accounts lose money.
74-89% of retail CFD accounts lose money
Tips To Choose The Ideal PAMM Forex Brokers in UAE
Criteria to consider to select the optimal PAMM forex broker in UAE are listed below.
- PAMM Account Availability and Performance. Past and expected performance of brokers PAMM accounts need to be considered. Traders should prefer brokers with better performance statistics.
- Fees. Spreads, commissions and management fees should be considered. Brokers with lover overall fees should be preffered.
- Minimum Investment Requirements. The minimum deposit amount required by the broker to participate in MAMM programs need to be considered.
- Availability of Forex Currency Pairs. Broker with better coverage of forex trading instruments should be preferred. The most common instruments offered on PAMM account include forex pairs, forex CFDs, micro-lots.
- Deposit and Withdrawal Methods. Broker with a wide range of deposit and withdrawal options should be preferred. The most common methods to be considered are bank wire transfers, credit/debit cards and e-payments (Paypal, Neteller)
- Halal Compliance. Islamic traders should check the compatibility of PAMM investments with Sharia law.
The Top PAMM Forex Broker Compared
Key features of the highest rated PAMM forex brokers in UAE are compared in the table below.
| Broker | AvaTrade | PepperStone | Dukascopy | Multibank | Fusion Markets |
| Nr. of Forex Pairs | 65 | 100 | 59 | 55 | 90 |
| Spread on EUR/USD | From 0,9 pips | From 0,8 pips or 0,1 pips on ECN Account | From 0.1 pips | From 0,8 pips or 0,0 pips on ECN Account | From 0,9 pips or 0,0 pips on ECN Account |
| Leverage | Up to 400:1 | Up to 500:1 | Up to 200:1 | Up to 500:1 | Up to 500:1 |
| Trading Platforms | WebTrader, AvaOptions, AvaTradeGO, MetaTrader 4, MetaTrader 5 | TradingView, MetaTrader 4, MetaTrader 5, cTrader | MetaTrader 4, jForex | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5, cTrader |
| Regulators | MiFID, CySEC, ASIC, FSC, FSA, ADGM, FRSA | FCA, ASIC, DFSA | FINMA, Bank of Latvia, JFSA | ASIC, AUSTRAC, BAFIN, CIMA, CySEC, ESCA, FSC, FMA, MAS, TFG, VFSC | ASIC, VFSC |
| Educational Resources | Guides, Platform Tutorials, Videos, Glossary | Tutorial guides, Webinars, Videos | Guides, Tutorials, Videos, webinars, | Videos, eBooks | Tutorials |
| Customer Support | Email, live chat, phone | Email, live chat, phone | Email, Message, Live chat, Call-back, | Email, live chat, Phone, What’s up | Email, live chat, phone |
| Type of PAMM System | PAMM | PAMM, MAMM | PAMM | PAMM, MAM | PAMM, MAM |
| Min. Investment Amount | $100 | $5,000 | $1,000 | $50 | $0 |
| Own Money Managers | x | ✓ | ✓ | x | x |
What Are PAMM Accounts?
PAMM (Percentage Allocation Management Module) accounts are trading accounts that allow investors to allocate funds to professional traders (money manager) in order for them to trade on their behalf.
In other words, PAMM accounts allow professional traders to trade the forex markets with funds allocated by multiple investors. The broker’s PAMM system automatically pays out each investor according to the money manager’s profits, losses, and investor’s percentage-based investment.
PAMM accounts are popular among forex traders who lack on time, knowledge or expertise. PAMM accounts allow them to increase their chances of higher returns on their investments.
What Are RAMM Accounts?
RAMM (Risk Allocation Management Model) accounts are a special type of investment account that enables users to manage the risk exposure of their forex trades. In other words, RAMM accounts allow traders to invest in trading strategies used by professional money managers.
These money managers use unique algorithms to allocate the invested funds across multiple trades and positions based on the user’s predetermined risk level. The goal of RAMM accounts is to generate potentially higher returns and minimize losses through the use of efficient risk management and a robust trading algorithms.
What Is The Difference Between RAMM and PAMM Accounts?
The main difference between PAMM and RAMM accounts is their investment allocation. RAMM accounts allocate investments through by the use of a proprietary algorithm that automatically adjusts the risk allocation based on the trader’s risk appetite. With a PAMM account, on the other hand, investors can allocate a percentage of their investment funds into multiple trading accounts managed by different professional traders or money managers.
When Should a PAMM Account Be Used and When Should a RAMM Account Be Used?
A RAMM account should be used if the money manager increased responsibility is required. RAMM accounts allow investing money into a special account type based on a predefined risk reward structure.
PAMM accounts should be used to diversify capital across multiple accounts.
What Are MAM Accounts?
MAM (Multi-Account Manager) accounts are a special type of investment accounts that allow money managers to execute forex trades on behalf of multiple clients through a single account (master account). In other words, MAM account allow money managers to allocate funds across multiple sub-accounts, according to a predetermined allocation method. The money manager can allocate funds through equal allocation or percentage-based allocation.
MAM accounts allow multi-account management and quick trade execution while maintaining complete control over the general investment strategy used to trade the accounts.
How Are PAMM Accounts Regulated in the UAE?
PAMM accounts are regulated by the Securities and Commodities Authority (SCA). Brokers that offer PAMM account must comply with the SCA regulatory requirements.
Conclusion
With the variety of online brokers that offer PAMM accounts, it can be difficult to analyze and compare their services to find the perfect provider for certain needs. To make the ideal choice for their needs, traders need to asses essential data and research them, considering important criteria.
To help users save time and feel safe in the process, we have compared and evaluated the top choices for different types of traders. The results of our assessment of the best PAMM forex brokers in UAE are wrapped up in the table below.
| RANK | BROKER | PLATFORM SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|
| #1 | AVAtrade | 4,9/5 | Best Overall PAMM Account Forex Broker | Official website |
| #2 | Pepperstone | 4,9/5 | Best Choice of Trading platforms | Official website |
| #3 | Dukascopy | 4,2/5 | Best MAM/PAMM Trading platform features | Official website |
| #4 | Multibank | 4,2/5 | Best trading conditions (fees) | Official website |
| #5 | Fusion Markets | 4/5 | Best for automated trading | Official website |
FAQ
What average returns to expect from PAMM accounts?
The average annual returns of PAMM forex account range from 5-10% (on conservative accounts) to 50% on aggressive accounts.
Are PAMM accounts legal in UAE?
Yes, the usage of PAMM accounts offered by regulated online brokers is legal in UAE.
What are forex PAMM accounts?
PAMM accounts (Percentage Allocation Management Module) are special trading accounts offered by brokers or investment managers that allow investors to allocate funds to be managed by professional traders (money manager).
How to get a forex PAMM account?
The most common way to open a forex PAMM account in UAE is through an online broker. Users need to fill-in required information, deposit the minimum required amount and select the desired investment manager.
How do forex PAMM accounts differ?
Forex accounts differ based on minimum investment requirements, fees, trading platforms, performance tracking and money managers.
Can users withdraw money from PAMM accounts at any time?
Yes, PAMM account holders can withdraw money from their account at any time by opening a withdrawal request. The withdrawal request needs to get approved by the money manager.
How to choose a PAMM account money manager?
Online brokers that offer PAMM accounts allow users to evaluated and choose account money manager based on their past performance, education, reputation (reviews and feedback), size of managed funds and associated investors.
What type of investors are PAMM account best suited for?
PAMM forex account are most commonly used by unexperienced investors lacking time and knowledge and advanced traders looking for deverzification.
Are PAMM accounts a great option to generate passive income?
Yes, PAMM forex accounts allow investors to generate passive income as they do not require active involvement and decision making.
Giles Thomas is the CEO of Business24-7 and has considerable experience in the financial industry as Executive Director and Head of Asia for the Family Office Industry focused business FOE.Global. He is also a veteran internet marketer with 13 years of experience in SEO and digital asset M&A.