Orbex Provides Improved PAMM Service to Investors and Fund Managers
The percentage allocation management module (PAMM) tool for retail traders and fund managers went live on Thursday, according to Orbex, a forex and contracts for differences (CFDs) broker.
Improved PAMM Service from Orbex
The enhanced module will enable investors to invest in numerous managers and fund managers to deploy multiple strategies, according to the press release. The tool has a user-friendly interface, automatic profit allocation, and sorting tool performance ratings.
“For Investors, our new PAMM service allows Orbex clients to outsource their trading to one or more professional traders i.e., PAMM Managers with proven past performance, in order to benefit passively from a percentage of their returns,” Orbex commented in the statement.
PAMM is a popular broker service that enables traders to invest their money in the portfolios of other investors in exchange for a cut of the earnings those investors make. The PAMM approach allows traders to manage funds and impart their trading strategy to others.
The updated PAMM service gives seasoned investors who wish to share their strategies via the Orbex platform the option of charging up to 50% performance fees on realised profits. Orbex offers the automatic allocation of commissions as well as the automatic distribution of winnings or losses to investor pools.
Offering of a New CMO and Crypto
The launch of the new PAMM service is a further development of the CFD broker’s product, which was already updated last June with the addition of 11 well-known cryptocurrency pair to its list of available instruments. Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Dogecoin, Polkadot, EOS, Chainlink, and Stellar are the coins.
“At Orbex, we remain committed to keeping pace with market trends and gauging investor demand in order to continue to innovate with new assets, tools and services for our clients,” Abdullah Abbas, Orbex’s Chairman, commented on the move.
Drosoul Hadjisavv, the former top marketing executive at BDSwiss, was hired by Orbex as the new chief marketing officer in October (CMO). Hadjisavva brings to the CMO position more than 10 years of expertise in the financial sector, including working with several well-known brokers. She was associated with IronFX for more than six years in addition to BDSwiss.
FP Markets wins ‘Best CFD Broker in Africa’ at FAME Awards 2023
In recognition of its growing presence in the African CFD sector, FP Markets, a renowned…
On its OTC and Share Dealing Trading Platforms, Plus500 introduces the ESG Trading Suite
A new ESG trading product suite has been introduced by Plus500, a FTSE 250 multi-asset…
tastytrade launches a new API
A new application programming interface (API) from tastytrade gives users the resources they need to…
Launch of the DXtrade-powered trading platform by BlackBull Markets
BlackBull Markets, an FX and CFDs broker located in New Zealand, has launched a new…
IX Social 2.0, INFINOX’s updated copy trading programme, now offers a multi-strategy option
The copy trading software from INFINOX has been updated with a number of new features…
The highest influx of FX deposits to Interactive Brokers occurred in March
The Commodity Futures Trading Commission (CFTC) has released its anticipated monthly report for March 2023,…