PAMM accounts are a way to earn passive income, which both beginners and professional investors can use. Traders Union have conducted a detailed analysis of the brokers offering this option. The experts compared the companies, their trading conditions for PAMM accounts and general trading conditions. The rating features the most reliable companies in Cyprus that offer passive income under good conditions.
The Most reliable brokers of Cyprus by TU include the following:
The HFM broker focuses on traders from Europe. The company offers a variety of investment options and is suitable for both novice and professional traders.
The Fibo Group has an excellent reputation and a great history with a deserved the large number of traders working with them in the Forex market. The company provides comfortable working conditions for both beginners and professional traders.
The BDSwiss broker is suitable for users of all levels of Forex trading experience and is focused on cooperating with active traders.
InstaForex is the best option for traders with any level of experience. For active professional traders, there is a large pool of non-standard technological solutions for more accurate analysis. For novice traders, there are comfortable starting conditions, such as a $1 minimum deposit under the regulation of FSC and a $200 minimum deposit with the broker regulated by CySEC. There are PAMM accounts and social trading for investors.
Swissquote is a broker that targets primarily large investors. The company is licensed by the reputable regulator FINMA and that ensures reliable protection of funds and interests of clients or investors in the event of disputes and conflicts. But for ordinary traders, Swissquote is not very convenient due to its unattractive working conditions. Swissquote is worth considering for those looking to invest from $1 million. If you are one of them, send us an email, and we will consult with you separately and help you do everything as quickly and reliably as possible. For ordinary traders, however, Swissquote is significantly inferior to its competitors in all respects.
Best PAMM brokers in Cyprus in 2024
| HFM | FIBO Group | BDSwiss | InstaForex | Swissquote Bank SA | |
|---|---|---|---|---|---|
Trading platform |
MetaTrader 4, MetaTrader 5, Webtrader, Mobile Trading and HFM Platform |
MetaTrader 4, MetaTrader 5, cTrader, WebTerminal MT4, WebTerminal MT5 |
MetaTrader 4, MetaTrader 5, BDSwiss Webtrader, and BDSwiss mobile apps for iOS and Android |
МТ4, МТ5, mobile trading, and WebTrader by InstaForex |
MetaTrader 4, MetaTrader 5, Advanced Trader |
Min deposit |
$0 |
$300 |
$10 |
$1 |
$1000 |
Leverage |
From 1:400 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
Yes |
No |
Accrual of % on the balance |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Spread |
From 0.0 points |
From 0.8 points |
From 0.0 points |
From 0.0 points |
From 1.4 points |
Level of margin call / stop out |
50% / 20% |
25% / 20% |
50% / 20% |
30% / 10% |
1% / 100% |
Execution of orders |
Market Execution |
NDD, Market Maker |
Market Execution |
Instant Execution |
Instant Execution |
No deposit bonus |
No |
No |
No |
No |
No |
Cent accounts |
Yes |
No |
Yes |
Yes |
No |
A PAMM account provides passive income for traders regardless of their experience. The income is ensured by a professional manager. Only one person can manage the account, while an unlimited number of investors can invest in such an account. The manager can invest in any assets, for example Forex, cryptocurrencies, etc.
It is important to know that the manager does not interact with the investor money directly and does not have access to it. He opens a position with his own funds, while the money of the clients is added by the system. The manager is not restricted in his choice of the trading strategy. The profit is distributed proportionally to the investments. Each PAMM account has a profitability rate, which investors are guided by when starting to work.
1
Best PAMM broker in Cyprus - HFM
HFM is a broker owned by the HF Markets Group, offers a wide variety of account types, and has the widest selection of trading assets and high-quality software. HFM also has favorable trading conditions and instant execution of orders. Plus, a solid list of tools and services allow everyone to choose the best option. The broker's reliability is confirmed by the license of several regulators. The company's work experience in the financial, brokerage and other services market is over 10 years. Within that time, HFM has received 35 prestigious awards. For trading, MetaTrader 4 and MetaTrader 5 trading terminals are used.
👍 Advantages of trading with HFM for traders from Cyprus:
•favorable trading conditions and low spreads - from 0 pips;
•controlled by several regulators;
•no commissions for account replenishment and bank transfers.
👎 Disadvantages of HFM for traders from Cyprus:
•Withdrawal terms do not always correspond to those indicated;
•Few account currencies, which is why some clients have to pay for double conversion;
•The choice of electronic payment systems for replenishment/ and withdrawal is rather modest;
•Registration is quite easy, but while it is in progress, you cannot learn the conditions on other types of accounts;
•Customer support is closed on weekends.
HFM Commissions & Fees for traders from Cyprus
It is important to know the commissions and fees brokers charge if you plan to invest not only in PAMM accounts, but also to trade.The number of the managers offering their services on the platform directly depends on the level of the broker’s fees.
HFM Commissions and Fees in Cyprus
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Zero spread |
From $0 |
No |
Cent |
From $12 |
No |
Premium |
From $12 |
No |
PRO |
From $5 |
No |
2
Best PAMM broker in Cyprus - FIBO Group
Fibo Group broker is an international financial holding company, it has been operating since 1998. It is considered to be one of the first brokers to operate in the Forex market. The company offers a wide range of services for trading and investing. Fibo Group is an award-winning company, having won “Best ECN Broker” at the Forex EXPO in 2014 and “The Most Trusted Forex Broker 2014” according to the International Investment and Finance Exhibition of China. These achievements are a testament to their high quality. The broker is licensed by FSC. Jurisdiction - British and Virgin Islands (SIBA/L/13/1063).
👍 Advantages of trading with FIBO Group for traders from Cyprus:
•a wide range of trading platforms, including terminal versions for mobile devices.
•24/7 technical support.
•large selection of currency pairs (over 60).
👎 Disadvantages of FIBO Group for traders from Cyprus:
•penalties and fees for early money withdrawal from a PAMM account.
•customer service is available 24/7, but often there is a response delay of 12 hours or more.
•a fairly modest program for bonuses, promotions, and special offers.
•large minimum deposits, which can be a problem for the beginner traders.
•relatively high spreads, especially when working with not the most popular trading instruments.
FIBO Group Commissions & Fees for traders from Cyprus
It is important to know the commissions and fees brokers charge if you plan to invest not only in PAMM accounts, but also to trade.The number of the managers offering their services on the platform directly depends on the level of the broker’s fees.
FIBO Group Commissions and Fees in Cyprus
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Cent |
From $0.06 |
Yes |
Fixed |
From $20 |
Yes |
NDD |
From $0 |
Yes |
cTrader NDD |
From $0 |
Yes |
NDD No Commission |
From $8 |
Yes |
MT5 NDD |
From $0 |
Yes |
3
Best PAMM broker in Cyprus - BDSwiss
The BDSwiss brokerage company has provided financial services in the Forex market since 2012. The broker is keen to cooperate with traders worldwide. Over the past year, the broker has received World Finance Awards such as Best Market Analytics Service Provider (FxScouts Awards), and Best Forex & CFD Broker (International Investor Awards).
👍 Advantages of trading with BDSwiss for traders from Cyprus:
•A vast array of trading assets.
•The ability to trade from both PC and mobile devices.
•A wide range of deposit and withdrawal methods.
•Withdrawal fees are paid by the company.
•The broker periodically conducts online lectures for its clients.
👎 Disadvantages of BDSwiss for traders from Cyprus:
•Lack of investment programs and trading bonuses.
•The broker charges a fee for inactivity on the account.
•Support is unavailable on weekends.
BDSwiss Commissions & Fees for traders from Cyprus
It is important to know the commissions and fees brokers charge if you plan to invest not only in PAMM accounts, but also to trade.The number of the managers offering their services on the platform directly depends on the level of the broker’s fees.
BDSwiss Commissions and Fees in Cyprus
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Cent |
$15 |
No |
Classic |
$15 |
No |
Premium |
$11 |
No |
VIP |
$11 |
No |
Zero Spread |
$0 |
No |
StockPlus |
DMA |
No |
4
Best PAMM broker in Cyprus - InstaForex
InstaForex is a leading broker with over 7,000,000 clients. The company provides access to 2,500+ trading instruments, including Forex pairs, stocks, indices, commodities, and cryptocurrencies. Clients can benefit from competitive spreads starting from 0 pips, leverage up to 1:1000, and access to non-standard technological solutions like synthetic securities. The average execution speed is 0.1 sec.
The broker offers a wide range of cryptocurrency CFDs, with over 70 instruments available and zero spreads on major cryptocurrencies. Additionally, it supports passive investment options including PAMM accounts, copy trading services, and unique offering - OYS portfolios.
The company provides responsive client support and insurance coverage up to €20,000 under European regulation.
👍 Advantages of trading with InstaForex for traders from Cyprus:
•2,500+ trading instruments, including non-standard assets, such as InstaFutures and synthetic securities.
•Passive investment products, including PAMM accounts and a copy trading service.
•Non-standard technological solutions such as InstaSpot (P2P spot trading), OYS account, Stock Basket, etc.
•European regulation and IFC compensation fund with guaranteed insurance coverage up to €20,000.
•Comfortable trading conditions, such as a $1 minimum deposit and leverage up to 1:1000, for clients of the FSC-regulated broker.
👎 Disadvantages of InstaForex for traders from Cyprus:
•Tough conditions for retail European traders due to regulations.
•The time gap between a trade executed by a trader and the one copied to the investor’s account in the social trading service can be up to 15 seconds.
InstaForex Commissions & Fees for traders from Cyprus
It is important to know the commissions and fees brokers charge if you plan to invest not only in PAMM accounts, but also to trade.The number of the managers offering their services on the platform directly depends on the level of the broker’s fees.
InstaForex Commissions and Fees in Cyprus
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Insta.Standard (FSC) |
From 3-7 USD |
yes |
Insta.Eurica (FSC) |
From 0 USD |
yes |
Cent.Standard (FSC) |
From 3-7 USD |
yes |
Cent.Eurica (FSC) |
From 0 USD |
yes |
ECN.MT4 (CySEC) |
From 10 USD |
Yes |
ECN VIP.MT4 (CySEC) |
From 3 USD |
No |
ECN Pro.MT4 (CySEC) |
From 7 USD |
Yes |
All ECN-accounts MT5 (CySEC) |
From 0 USD |
No |
5
Best PAMM broker in Cyprus - Swissquote Bank SA
The Swissquote brokerage firm has been operating in the Forex market since 1996. The company is regulated by the Swiss Financial Markets Authority (FINMA). The company is a member of the Swiss Bankers Association. It has offices in many financial capitals of the world: Zurich, London, Dubai, Hong Kong and is moderately popular among traders. The company falls short in the category of customer service when compared to other top companies and is significantly inferior to popular Forex brokers in many other respects also. This is reflected in its place in the Forex broker ratings. Swissquote has prioritized reliability, while paying less attention to indicators that are important for each trader, such as the size of the minimum deposit, trading conditions, deposit conditions, and its rules on withdrawing funds. The quality of Swissquote Bank's customer support is also at a satisfactory level, but lower than that of the top brokers.
👍 Advantages of trading with Swissquote Bank SA for traders from Cyprus:
•availability of a license from an authoritative regulator;
•a wide range of financial services;
•a large selection of deposit currencies.
👎 Disadvantages of Swissquote Bank SA for traders from Cyprus:
•not very informative and slow working site;
•high spreads and commissions;
•large deposit;
•lack of multilingual support in the live chat;
•few promotions, bonuses, contests, or other special offers;
•a very complicated registration procedure that requires mandatory verification.
Swissquote Bank SA Commissions & Fees for traders from Cyprus
It is important to know the commissions and fees brokers charge if you plan to invest not only in PAMM accounts, but also to trade.The number of the managers offering their services on the platform directly depends on the level of the broker’s fees.
Swissquote Bank SA Commissions and Fees in Cyprus
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard |
From $17 |
Yes |
Premium |
From $14 |
Yes |
Professional |
Individual |
Yes |
Prime |
From $11 |
Yes |
How to Choose The Best PAMM Brokers?
When choosing a PAMM broker, you need to take into consideration several important aspects, including the following:
Reliability and security. A broker should hold the financial license and disclose information about the company.
Number of PAMM accounts. A high number of managers offering their services also testifies to the reliability of the broker and good trading conditions.
Profitability. Each PAMM account has a certain profitability rate. However, you need to keep in mind that high profit is accompanied by corresponding risks.
Minimum deposit. It is important for testing the PAMM account and Forex trading in general.
Deposit and withdrawal. It is important to take notice of the number of supported deposit/withdrawal options and the conditions - limits, fees, etc.
Conclusions
PAMM accounts are a way to earn passive income to beginners and experienced investors as a way to diversify investment portfolios. However, before starting to invest, you need to choose the right broker in Cyprus. The broker should be reliable, offer good trading conditions and offer a wide choice of account types for investors.
Before opening a PAMM account, it is important to remember that this option is not a 100% profit guarantee. There are also the risks of losing your money. Therefore, the best option for beginners is to start with a test run with a minimum deposit. In this case, the trader can see whether the manager is as successful as he expects.
Top PAMM brokers in 2024 for Cyprus traders
| HFM | FIBO Group | BDSwiss | InstaForex | Swissquote Bank SA | |
|---|---|---|---|---|---|
Overall score |
8.09 |
5.77 |
5.98 |
7.83 |
6.76 |
Execution of orders |
9 |
4.27 |
6 |
8.85 |
4.37 |
Investment instruments |
8.91 |
5.49 |
4.19 |
7.1 |
9.76 |
Withdrawal speed |
8.86 |
6.57 |
7.07 |
6.9 |
5.14 |
Customer Support work |
5.42 |
5.55 |
4.89 |
7 |
8.44 |
Variety of instruments |
7.37 |
7.02 |
7.75 |
8.02 |
8.02 |
Trading platform |
8.95 |
5.73 |
5.95 |
9.1 |
4.84 |
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FAQs
How much can you earn on PAMM accounts?
The amount you can earn on PAMM accounts is actually unlimited. Everything depends on the level of your deposit and the manager, as well as the interest rate he provides. However, do not forget about the risks as you chase the profit.
How are PAMM accounts different from copy trading?
When investing in a PAMM account, the trades of the manager are not copied to the subscriber’s account; the transactions cannot be controlled or canceled.
Can I subscribe to several PAMM accounts?
As a rule, it is possible. However, broker may limit the number of such accounts. Nonetheless, the restrictions are rare.
Should I split my funds among several PAMM accounts?
Yes. Diversification is important for protection of your funds. In this case if you have a loss on one account, it will be covered by the profit on the other accounts.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.