Not All MAM's Are The Same
With multiple MAM/PAMM’s available on the market, what are the four questions you should ask yourself when looking for a solution?
What is a MAM/PAMM?
As discussed in our previous blog, MAM (Multiple-Account Manager) also referred to as PAMM (Percentage Allocation Management Module), is an term used to describe a multiple account management solution enabling Money Manager’s to trade on behalf of multiple sub-accounts.
However, not all MAM’s are the same, each offering different benefits and features which can subsequently make it difficult to distinguish how to pick between them. So, what should the deciding factors when choosing which MAM to invest in?
Below, I have listed some key questions you should be asking when comparing the various MAM solutions on the market:
1. Is this MAM/PAMM reliable?
The last thing you want is your server crashing or allocation issues occurring, impacting your brokerages profitability.
Many brokers who are already using MAM/PAMM software reach out to us because they are having some reliability or stability problems.
2. Is the installation a straightforward process?
This is an important question that isn’t usually given much thought but will save you and your Money Managers precious time and money in the longer term.
3. Can this MAM close sub-account trades independently from the master account?
The ability to close sub accounts independently from the master account has been a challenge for some MAM solutions.
This has caused issues when a Money Manager has investors who would like to leave the MAM while positions are open. As a result, many brokers and Money Managers prevent investors from leaving the MAM while there are open positions, which is complex for brokers to manage.
4. Does this vendor have an experienced and attentive support team?
You will, more likely than not, have multiple questions relating to the installation or configuration of the MAM/PAMM. It is a complex application. Not getting the support you need can be extremely frustrating.
Therefore, it is imperative that your chosen MAM vendor has a support team available who can assist or answer any of your queries.
Although many MAM tools exist, the Gold-i MAM Pro provides an immediate benefit for all levels of traders and money managers. It has been in production for over 10 years, so we have plenty of experience building and refining our MAM Pro solution to be extremely robust, considering many complex scenarios and structures that can become problematic if not handled correctly.
The Gold-i MAM Pro User Interface can be installed simply by the Money Manager in a similar way to the MT4 client terminal. They can login using the same details as their MT4/5 account, making the process easy and straightforward. To ensure that you get the best value out of your MAM solution, the Gold-i support team works around the clock to assist brokers with MT4/MT5 MAM maintenance. Our customers are guaranteed efficient setup and customization assistance.
Interested in learning more about Gold-i’s market leading MAM Pro for MT4 & MT5?
Please contact us if you have any questions, would like to request a free demo or hear more about Gold-i’s flexible pricing model.
Tom Higgins, CEO