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7 Best PAMM Account Forex Brokers in Kenya

The 7 Best PAMM Account Forex Brokers in Kenya revealed. We tested and verified the best PAMM Account forex brokers for Kenyan Traders.

This is a complete list of forex brokers that offer a PAMM Account in Kenya.

In this in-depth guide you’ll learn:

  • What is Percent Allocation Money Management (PAMM)?
  • Who are the best PAMM account forex brokers for Kenyans?
  • Who are our recommended 7 PAMM Account forex brokers for Beginner Traders?
  • Which PAMM Account forex brokers are the most profitable?
  • Which PAMM Account forex brokers offer the best account management?
  • Do PAMM Accounts have regulations?
  • How safe are PAMM Accounts?
  • Which brokers offer a signup bonus for first-time traders?
  • Which PAMM Account brokers have a minimum deposit of $5 (583 KES) for first-time traders?


And lots more…

So if you’re ready to go “all in” with the best-tested PAMM Accounts forex brokers for Kenyans…

Let’s dive right in…

Updated : August 31, 2022

Best PAMM Account Forex Brokers in Kenya (Updated 2022)

🥇 Broker✔️ PAMM Account Broker?💰 Minimum Deposit?💸 Kenyan Shilling (KES) Deposits Allowed?👉 Open Account
1. HF MarketsYes$5 USD (580 KES)No👉 Open Account
2. Trade NationYes10 USD (1 167 KES)No👉 Open Account
3. AvaTradeYes$100 (11635,00 KES)Yes👉 Open Account
4. AxioryYes$50 (5 835 KES)Yes👉 Open Account
5. BD SwissYes$100 (11635 KES)No👉 Open Account
6. OctaFXYes$100 (11635 KES)Yes👉 Open Account
7. ExnessYes$1 (116 KES)Yes👉 Open Account

7 Best PAMM Account Forex Brokers in Kenya (Updated 2022)

  1. HF Markets – Overall, Best PAMM Account Forex Broker
  2. Trade Nation – Top Forex Trading App in Kenya
  3. AvaTrade – Verified PAMM Account Volatility75 Forex Broker
  4. Axiory – User-Friendly MetaTrader5/MT5 Forex Broker
  5. BD Swiss – Best Account NDD Forex Broker in Kenya
  6. OctaFX – Top PAMM Account STP Forex Broker
  7. Exness – Best PAMM Account MetaTrader4/MT4 Forex Broker in Kenya

What are PAMM Account Forex Brokers?

👉 PAMM Account Forex Brokers allow Percentage Allocation Management Module (PAMM) is a type of pooled money forex trading. An investor has the option of allocating their money in the proportions desired to the qualified traders or money managers of their choice.

1. HF Markets

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 HF Markets, formerly known as HotForex, is a low-risk CFD and forex broker for Kenyan traders that offer PAMM accounts.

 

👉 HF Markets is well-regulated by several reputable entities, and the Capital Markets Authority (CMA) in Kenya recently granted a license to HFM Investments Limited, a subsidiary of the brokerage company.

 

👉 HF Markets is a proud MetaTrader broker, providing trading platforms for MetaTrader 4 and MetaTrader 5. HF Markets’ retail investor accounts are appropriate for both novice and expert traders, as well as professional traders seeking a competitive edge in their trading.

 

👉 To accommodate traders with varying trading styles, trading abilities, and investment objectives, each retail trading account has its own set of features and trading conditions. Over the last decade, HF Markets has won over 55 forex industry awards and has over 2.5 million active accounts.

 

Unique Features

FeatureInformation
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
📱 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
• LinkedIn
💻 Trading AccountsMicro Account, Premium Account, HF copy Account, Zero Spread Account, Auto Account
📊 Trading PlatformMetaTrader 4 and MetaTrader 5
💰 Minimum Deposit5 USD or 580 KES
💵 Trading AssetsForex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs
✔️ Kenyan Shilling-based Account?No
💵 KES Deposits Allowed?Yes
💸 Bonuses for Kenyan traders?Yes
📉 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Tight, competitive spreads from 0.0 pips on EUR/USD are offeredHF Markets only offers a few deposit and withdrawal methods to Kenyans
Kenyan traders have access to MetaTrader 4 and 5 across desktops, mobile apps, and web-based platforms
A demo account is available for beginners who are learning to trade and professional traders who are testing strategies
Kenyan traders can register a trading account in either USD, ZAR, or NGN
Several asset classes can be traded through HF Markets

 

Trust Score and Kenyan Market Share

🥇 HotForex has a trust score of 83% and a Kenyan market share of 2.5%.

2. Trade Nation

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

FSCA

Trading Desk

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 Kenyan investors might consider using Trade Nation because it is a platform with minimal risk and a good trading app. Trade Nation provides PAMM options on accounts too.

 

👉 Traders in Kenya have the option of using MetaTrader 4 with Trade Nation; however, the broker is trying to encourage clients to utilize its own unique app and platform. This trading platform, which offers a diverse selection of assets that may be traded, enables traders to make use of features such as fixed spreads and guaranteed stops.

 

👉 Despite the fact that the Capital Markets Authority (CMA) in Kenya has not granted Trade Nation a license, the company is subject to stringent regulatory oversight. Trade Nation has an acceptable trust score and maintains the safety of customer cash by storing them in accounts that are kept apart from other company monies.

 

Unique Features

FeatureInformation
⚖️ RegulationFCA, ASIC, FSCA, SCB
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
💻 Trading Accounts• Low Leverage Account (1:30)
High Leverage Account (1:200)
📊 Trading Platform• MetaTrader 4
• Trade Nation app
💰 Minimum Deposit10 USD (1 167 KES)
✅ Trading Assets• Indices
• Stocks
• Precious Metals
• Forex
• Commodities
• Energies
• CFDs
💵 Kenyan Shilling-based Account?No
✔️ KES Deposits Allowed?No
📉 Minimum spreadFrom 0.4 pips
✔️ Demo AccountYes
☪️ Islamic AccountNo

 

✔️ Pros❌ Cons
Trade Nation offers MetaTrader 4 alongside its innovative proprietary trading platformThere is a limited selection of funding options
Trade Nation is a reputable and well-regulated broker that is well-trusted in the forex industryThere is no KES-denominated account and Kenyans cannot deposit funds in Kenyan shilling
There are no fees charged on deposits or withdrawalsCurrency conversion fees may apply to deposits made in KES
There is a range of markets available to Kenyan tradersThe spreads are not the lowest
There are tight, fixed spreads and no hidden fees
There is a selection of educational materials that are offered
Trade Nation provides sophisticated trading tools to advanced traders

 

Trust Score

🥇 Trade Nation has a trust score of 79%

3. AvaTrade

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

ASIC, FSA

Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 AvaTrade is considered to have a low degree of risk as a result of its overall Trust Score of 93 out of a possible 100. AvaTrade has been granted licences to operate by a total of six different regulatory bodies, including five Tier-1 Regulators, five Tier-2 Regulators, and one Tier-3 Regulator.

 

👉 A single live trading account is made available to traders by AvaTrade; however, traders have the option of using either a Retail trading account or a Professional trading account when engaging in live trading.

 

Unique features

FeatureInformation
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
📱 Social Media Platforms• Twitter
• Instagram
• Facebook
• YouTube
💻 Trading AccountsStandard and Options accounts
📊 Trading Platform• AvaTradeGO
• AvaOptions
• AvaSocial
• MetaTrader 4
• MetaTrader 5
• DupliTrade
• ZuluTrade
💰 Minimum DepositEquivalent to $100 – 11635,00 KES
✅ Tradable Assets• Forex
• Metals
• Crypto
• Energies
• Indices
• Stocks
💵 Trading AssetsEquivalent to $100 – 11635,00 KES
📉 Minimum spreadFrom 0.9 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
AvaTrade is an internationally recognised and award-winning broker that is regulated in multiple jurisdictions.The demo account is only available for a period of thirty days.
The broker enables customers to choose from a variety of trading strategies, providing Kenyan investors with flexibility.The spreads are not at their most competitive levels.
A demo account is available for both inexperienced and seasoned traders to use.On inactive accounts, administrative fees come in the form of inactivity fees, which must be paid.
AvaTrade provides Muslim traders with trading circumstances based on Islamic law.Retail traders have access to a relatively low ratio of leverage.
Both social trading and trading in cryptocurrencies are supported.
The services provided by AvaTrade will meet the needs of Kenyan merchants of all experience levels, to their complete satisfaction.
Different trading platforms accessible, accessed from a variety of devices.
Traders just starting out have access to a variety of learning resources that can help them expand their expertise and knowledge.

 

Trust score

🥇 The trust score for AvaTrade is 93%.

4. Axiory

Overall Rating

Min Deposit

10 USD / 1156 KES

Regulators

IFSC, MFSC and FSC

Trading Desk

MetaTrader4, MetaTrader5, CopyTrade and cTrader

Crypto

No

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 Axiory is one of the best NDD STP and ECN brokers. Trades with Axiory are executed in less than 200 milliseconds, and Kenyan traders are provided with the best trading software that is linked to Equinix datacenters.

 

👉 Forex and CFD trading can be done with Axiory’s cTrader, MetaTrader, and the FIX API. Trading tools, training materials, and over 150 instruments are available to assist traders. PAMM accounts are available.

 

👉 Axiory is not regulated or authorised by Kenya’s Capital Markets Authority (CMA), but the broker is a trusted and reputable trading provider. Axiory was founded in 2011 by experienced fund managers and has grown rapidly with technology at the heart of the brand.

 

👉 Axiory employs the Straight-through Processing (STP) and Electronic Communication Network (ECN) broker models. Client orders are routed directly to the interbank liquidity pool, where they are executed at the best rates and speeds available. There is no trading floor (NDD).

 

Unique Features

FeatureInformation
⚖️ RegulationFSC Belize, FSC Mauritius, FCA
📱 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
• LinkedIn
💻 Trading Accounts• Nano Account
• Standard Account
• Max Account
• Tera Account
• Alpha Account
📊 Trading Platform• MetaTrader 4
• MetaTrader 5
• cTrader
• Axiory CopyTrade
💰 Minimum Deposit$50 (5 835 KES)
✅ Trading Assets• Forex
• Gold and Precious • Metals
• Oil and Energies
• CFD Indices
• CFD Stocks
• Exchange Stocks
• Exchange ETFs
📉 Minimum spreadFrom 0.13 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Axiory is multi-regulated and offers investor protection through the Financial CommissiosKenyan traders are not given the benefit of local deposit and withdrawal options
Client Funds are kept in segregated with top financial institutionsThe Kenyan shilling is not a base currency option for a trading account
Traders can choose between dynamic and flexible trading accountsHolding commissions are applied to the Islamic account
Traders can choose between robust and reliable trading platformsCryptocurrencies cannot be traded through Axiory
Both an Islamic account and a practice trading account available
Traders can use AutoChartist and a few other helpful tools
Kenyan traders can use several trading strategies
Axiory offers competitive trading conditions across all account types and financial markets

 

Trust Score and Kenyan Market Share

🥇 Axiory has a trust score of 90%

5. BD Swiss

Overall Rating

Min Deposit

USD 100 / 11660 KES

Regulators

CySec, FSC, FSA, BaFin, NFA

Trading Desk

MetaTrader 4 , MetaTrader 5

Crypto

Yes

Total Pairs

50 Forex Pairs and 20 Crypto Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 BDSwiss is considered to be a low-risk company, due to proper regulation.

 

👉 There are four types of retail trading accounts offered by BDSwiss, including a Classic Account, Premium Account, VIP Account, and a RAW Trading Account. PAMM services are allowed.

 

👉 Since its inception in 2012, BDSwiss has established itself as a reputable and well-regulated broker with a large international clientele. There is a wide range of goods available for trading, including forex, commodities, stocks, indices, and many cryptocurrencies, which is far more than what is offered by most other brokers.

 

Unique Features

FeatureInformation
⚖️ RegulationCySEC, FSC, BaFIN, FSA
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• Instagram
• YouTube
• Blog
• Telegram
💻 Trading Accounts• Classic Account
• Premium Account
• VIP Account
• RAW Account
📊 Trading Platform• MetaTrader 4
• MetaTrader 5
• BDSwiss Mobile
• BDSwiss Web
• cTrader
💰 Minimum Deposit$100
✅ Trading Assets• Forex
• Commodities
• Shares
• Indices
• Cryptocurrencies
✔️ Kenyan Shilling-based Account?No
💰 KES Deposits Allowed?No, only USD, GBP, EUR
📉 Minimum spreadFrom 0.3 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
BDSwiss is well-regulated and offers services to countries worldwideThere are withdrawal fees charged
BDSwiss provides CTrader as multi-asset third-party trading platform for Forex and CFD trading.The BDSwiss trading platform is not offered as a desktop application
Traders can choose from over 250 financial instruments that can be traded using powerful trading platforms
BDSwiss offers MetaTrader and its own proprietary trading platforms on Web and Mobile devices
BDSwiss has won several awards since its inception, proving that it is a reputable and reliable trading provider
Demo accounts and Islamic accounts are offered
BDSwiss caters for both beginner and professional traders

 

Trust Score and Kenyan Market Share

🥇 Trust Score of BDSwiss is 83 out of 100.

6. OctaFX

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

FCA UK

Trading Desk

None

Crypto

Yes

Total Pairs

28

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 OctaFX is regarded as a dependable broker because of its low required minimum deposit, commission-free trading, and the availability of an unlimited practice account.

 

👉 OctaFX was founded in 2011, and to this day, the company has been recognized with more than 28 different distinctions. OctaFX’s mission is to keep trading costs as low as possible through the utilization of STP (Straight Through Processing) and ECN models.

 

👉 This OctaFX review can equip traders with the information they require to make an informed decision regarding whether or not the broker meets their specific trading goals and requirements.

 

👉 Although the Capital Markets Authority (CMA) in Kenya does not regulate OctaFX, the broker is regarded as a good choice for Kenyan traders of all skill levels.

 

Unique Features

FeatureInformation
⚖️ RegulationFinancial Services Authority in Saint Vincent and the Grenadines (SVG FSA), and Cyprus Securities and Exchange Commission (CySEC)
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
• Telegram
💻 Trading AccountsMetaTrader 4 Habitual Trader Account, MetaTrader 5 Smart Trader Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5
💰 Minimum Deposit11635 KES or 100 USD
✅ Trading AssetsForex Currency Pairs, Index CFDs, Commodities, Cryptocurrencies
✔️ Kenyan Shilling-based Account?No
💵 KES Deposits Allowed?No
💸 Bonuses for Kenyan traders?Yes
📉 Minimum spreadFrom 0.6 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
OctaFX accommodates all types of traders in a transparent and safe trading environmentOffshore broker with tier-2 regulation
OctaFX offers reliable, instant deposits and withdrawalsA limited selection of trading instruments offered
Commission-free trading is offered on all retail investor accounts along with tight spreadsThere is a limited selection of retail accounts
The broker offers copy trading accounts through a proprietary trading appLimited options for base currencies on accounts
Offers an Islamic Account for Muslim traders
Offers social trading opportunities
A range of advanced trading tools available
OctaFX offers versatile and reliable payment methods for deposits and withdrawals

 

Trust Score

🥇 OctaFX has a trust score of 61%.

7. Exness

Overall Rating

Min Deposit

USD 10 / 1156 KES

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 Exness is regulated by a number of reputable organizations.

 

👉 Exness is headquartered in Cyprus and has offices in the United Kingdom, Seychelles, South Africa, the British Virgin Islands, and Curaçao.

 

👉 Exness offers traders a variety of benefits, including low commissions, instant order execution, and the ability to withdraw money immediately via various instant withdrawal options.

 

Unique Features

FeatureInformation
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
📱 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
💻 Trading AccountsStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app
💰 Minimum Deposit1 USD (116 KES)
✅ Tradable AssetsForex, Metals, Crypto, Energies, Indices, Stocks
📉 Minimum spreadFrom 0.0 pips EUR/USD
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Exness is well-regulated and keeps all client funds in segregated accounts with top-tier institutionsExness offers a limited number of payment methods for deposits and withdrawals
Traders can choose between several retail investor accountsExness only offers a limited portfolio of financial instruments to traders
Exness offers an Islamic account conversion with no additional fees charged
Instant deposits and withdrawals are offered
Exness has customer support available 24 hours a day, 7 days a week

 

Trust Score

🥇 Exness has a trust score of 97%.

How to choose a PAMM Account Forex Broker

👉 Kenyan traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives and/or needs.

 

Regulations and Licenses

👉 This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Kenyans must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others.

 

Account Features

👉 Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.

 

Deposits and Withdrawals

👉 Kenyans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.

 

Range of Markets

👉 The range of markets offered refers to the number and range of tradable instruments that the broker offers. Kenyans must consider what they wish to trade and what is available.

 

Customer Support

👉 Customer Support is another crucial factor and Kenyans must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.

 

Trading Platform

👉 A trading platform is the Kenyan trader’s portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.

 

Education and Research

👉 Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:

➡️ eBooks

➡️ Trading guides

➡️ Trading knowledge on leveraged products

➡️ A risk warning on complex instruments

➡️ Educational videos

 

👉 Research can include some of the following:

➡️ Trading tools

➡️ Commentary

➡️ Status of International Markets

➡️ Price movements

➡️ Market sentiments

➡️ Whether there is a volatile market

➡️ Exchange Rates

➡️ Expert opinions and several other resources can help experienced traders make informed trading decisions.

The Best PAMM Account Forex Brokers in Kenya

👉 In this article we have listed the best Forex brokers which offer PAMM Account Forex Brokers to traders in Kenya. We have further identified the forex brokers that offer additional services and solutions to Kenyan traders.

 

Best PAMM Account MetaTrader 4 / MT4 Forex Broker in Kenya

Best PAMM Account MetaTrader 4 / MT4 Forex Broker

👉 Overall, Exness is the best PAMM Account MT4 forex broker in Kenya. Exness provides dynamic and adaptable account types and some of the most advantageous trading conditions in the industry. Exness gives access to over 200 financial products, a variety of retail account types, and a wealth of resources.

 

Best PAMM Account MetaTrader 5 / MT5 Forex Broker in Kenya

Best PAMM Account MetaTrader 5 / MT5 Forex Broker

👉 Overall, Axiory is the best PAMM Account MT5 forex broker in Kenya. Trades with Axiory are executed in less than 200 milliseconds, and Kenyan traders are provided with the best trading software that is linked to Equinix data centers. Forex and CFD trading can be done with Axiory’s cTrader, MetaTrader, and the FIX API.

 

Best PAMM Account Forex Broker for beginners in Kenya

Best PAMM Account Forex Broker for beginners

👉 Overall, Tickmill is the best PAMM Account forex broker for beginners in Kenya. Tickmill’s VIP and Pro accounts also provide highly attractive commission-based pricing. In addition to low spreads, huge leverage, and fast execution speeds, Tickmill offers a wide range of CFD currency, stock, commodity, and index CFDs.

 

Best PAMM Account Minimum Deposit Forex Broker in Kenya

Best PAMM Account Minimum Deposit Forex Broker

👉 Overall, HF Markets is the best PAMM Account minimum deposit forex broker in Kenya. HF Markets, formerly known as HotForex, also is a low-risk CFD and forex broker that offers fair trading conditions, retail investor accounts, client fund security, and customer support.

 

Best PAMM Account Forex Brokers ECN Forex Broker in Kenya

Best PAMM Account Forex Brokers ECN Forex Broker

👉 Overall, Pepperstone is the best PAMM Account ECN forex broker in Kenya. Pepperstone is also known for exceptional client service, research offerings, and an extensive selection of platforms.

 

Best PAMM Account Islamic / Swap-Free Forex Broker in Kenya

Best PAMM Account Islamic / Swap-Free Forex Broker

👉 Overall, CM Trading is the best PAMM Account Islamic/swap-free forex broker in Kenya. CM Trading is also a trading services broker that accepts Kenyan traders even though the Capital Markets Authority (CMA) does not regulate the broker.

 

Best PAMM Account Forex Trading App in Kenya

Best PAMM Account Forex Trading App

👉 Overall, Trade Nation is the best PAMM Account Forex Brokers forex trading app broker in Kenya. Trade Nation is also a platform with minimal risk and an effective trading app. Trade Nation further has competitive costs, a secure trading environment, and cutting-edge solutions.

 

Best PAMM Account Lowest Spread Forex Broker in Kenya

Best PAMM Account Lowest Spread Forex Broker

👉 Overall, FBS is the best PAMM Account and lowest spread forex broker in Kenya. FBS is also a top forex and CFD broker for Kenyans that provides a wide range of trading accounts as well as an innovative and powerful proprietary trading app. FBS charges low, competitive fees, and traders can be confident that their clients’ funds are secure.

 

Best PAMM Account Nasdaq 100 Forex Broker in Kenya

Best PAMM Account Nasdaq 100 Forex Broker

👉 Overall, XM is the best PAMM Account Nasdaq 100 forex broker in Kenya. XM also offers tight security, excellent customer service, account financing, and low fees.

 

Best PAMM Account Volatility 75 / VIX 75 Forex Broker in Kenya

Best PAMM Account Volatility 75 / VIX 75 Forex Broker

👉 Overall, AvaTrade is the best PAMM Account Volatility 75 / VIX 75 forex broker in Kenya. AvaTrade is worldwide regulated by financial watchdog authorities and is lauded as CFD and FX broker. It offers an optimal trading environment for every level of a trader with 24-hour multilingual support desks.

 

Best PAMM Account NDD Forex Broker in Kenya

Best PAMM Account NDD Forex Broker

👉 Overall, FP Markets is the best PAMM Account Forex Brokers NDD forex broker in Kenya. FP Markets also offers over 10,000 products in stocks, indices, forex, commodities, and cryptocurrencies, as well as a user-friendly mobile app and several account types.

 

Best PAMM Account STP Forex Broker in Kenya

Best PAMM Account STP Forex Broker

👉 Overall, OctaFX is the best PAMM Account Forex Brokers STP forex broker in Kenya. OctaFX is also a dependable broker because of its low required minimum deposit, commission-free trading, and the availability of an unlimited practice account.

 

Best PAMM Account sign up bonus Broker in Kenya

Best PAMM Account sign up bonus Broker

👉 Overall, Oanda is the best PAMM Account Forex Brokers sign-up bonus broker in Kenya. Oanda also offers competitive trading conditions, an award-winning proprietary platform, and high-quality trading solutions. On OANDA’s platform, both professionals and novices can access a wide range of indicators and charting tools.

Understanding how PAMM Account Forex Brokers works

👉 A PAMM account is essentially the same thing as a managed account, with the exception that one trader uses his or her account to trade on behalf of other traders.

 

👉 PAMM accounts are managed by the Forex or CFD brokerage through the use of a software application that gives the customers of the brokerage the ability to delegate either a portion or the entirety of their account to the management of a specific trader.

 

👉 The managing trader then trades his own money, but also the money of other clients, who each receive a percentage share of the profits or losses earned by the trader into their own accounts. The money of other clients is piggybacked onto the money that the managing trader trades with.

 

👉 Many brokerages that offer PAMM accounts keep a detailed list of their PAMM money managers on file so that investors can do their homework and choose who they want to manage their funds. The lists typically include information about each trader’s historical performance as well as more information about who they are and their trading philosophy.

 

👉 The broker provides a Limited Power of Attorney (LPOA) document that both parties sign, granting the money manager the right to manage the investor’s money under agreed-upon terms and conditions: the investors can, of course, terminate it at any time and regain control of their funds’ trading.

 

👉 Monitoring, review, record keeping, and so on are all made easier by the brokerage that provides the PAMM account.

Advantages of PAMM Account Forex Brokers

👉 PAMM Account Forex Brokers have several advantages. These advantages include:

➡️ A PAMM account allows a trader to manage other people’s money with ease, just by trading normally through his existing platform.

➡️ The PAMM software makes all the required calculations.

➡️ There is no limit to the number of “clients” the holder of a PAMM account can manage money for.

➡️ The account manager can profit from their own trading and take a percentage of the profits from the money he or she manages as well.

➡️ An investor in a PAMM account knows that the trader is risking their own funds too, which tends to increase confidence that the trader will be trading to the very best of his ability.

➡️ PAMM accounts are monitored by the broker, so investors know that the money manager cannot withdraw their actual funds from the brokerage.

Disadvantages of PAMM Account Forex Brokers

👉 PAMM Account Forex Brokers also has some drawbacks of traders in Kenya should take note of in order to mitigate their risk of losses:

➡️ All the parties involved must be clients of the same Forex / CFD brokerage.

➡️ Not all of the larger brokerages offer PAMM accounts.

➡️ As an investor, you have no control over the trades made by the money manager of your account.

Conclusion

👉 Overall, PAMM accounts are a convenient way for individuals to select money managers. These accounts allow investors to profit with little involvement. PAMM accounts do however carry the risk of capital loss based on the performance of a money manager. Individuals should choose a PAMM account broker and money manager according to their desired profit potential and risk aversion.

FAQ

What is PAMM Forex trading?

PAMM is an investment system that brings investors and traders together in allowing investors to trade and earn profits from the financial markets without executing any trade or monitoring market positions themselves. Instead, their accounts are managed by a portfolio manager who is a trader who trades on their behalf.

 

How does PAMM work?

A money manager opens a PAMM account, funds it, and creates a proposal with his terms of service (e.g. how much commission he charges from profits earned). When an interested investor chooses this account, the money manager begins to execute trades with both their money. Market gains and losses are shared between them according to their individual investments.

 

How do I open a PAMM account?

To open a PAMM account, you must register with a broker that offers PAMM and fund your account. You then select a money manager from those available.

 

How do I withdraw from PAMM?

At the end of a month, the PAMM account profit received is distributed among its participants in proportion to their investments after the manager has taken the stipulated fee from the investor’s income.

 

Why would you invest in a PAMM account?

The account manager can profit from their own trading while the investor benefit from the account manager’s skills and expertise.

Addendum/Disclosure:

👉 No matter how diligently we strive to maintain accuracy, all financial markets feature a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

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