FirewoodFX seems to be seriously developing an extra service called social trading. After launching its copy trading system with the ForexCopy label, the broker, which was just founded in 2014, has now announced the launch of the PAMM feature. What are the advantages offered?

Similar to the main service, FirewoodFX doesn't give many strange touches to its PAMM facility. The three words that best describe the new service are "simple but effective". Starting from how to register to the process of withdrawing profits, everything is packaged in a simple and easy-to-understand process for beginners.

Various PAMM Projects

Even though it's fairly simple, it doesn't mean that FirewoodFX neglects to add the most important features in a PAMM service. This broker is noted to have added a monitoring system that can display data and the best PAMM manager ratings. This facility is important because potential investors need to see the performance record of the manager who will manage the funds. FirewoodFX doesn't provide this facility at ForexCopy, but specifically for PAMM investors, this broker doesn't forget to attach a monitoring table for their various PAMM projects.

Automated Profit Distribution and Funds Safety

Not only providing investors with a list of PAMM managers sorted by their trading performance, FirewoodFX also completes this newest system with automated profit distribution. Thus, PAMM managers and investors don't need to worry about calculating how much fee and profit they will get. Managers can focus on their trading strategy, and investors can easily withdraw their profits.

FirewoodFX also guarantees the safety of investors' funds that are traded by managers. According to the information attached to the PAMM guide, managers can only trade investors' funds without being able to place a withdrawal order on these funds. The withdrawal process is entirely carried out by the investor, so there is no need to worry about the possibility of the funds being misused or taken away by the manager.

Protection for PAMM Managers

Besides ensuring investors' safety, FirewoodFX also guarantees favorable conditions for managers. The manager can determine the minimum investment and what percentage of the fee they want to withdraw. This fee is a service commission from the investor to the manager and is taken from the amount of profit withdrawn by the investor.

FirewoodFX PAMM managers can also set specific deadlines (locking periods) and penalty fees to limit investors who suddenly want to withdraw their funds. So if you register as a PAMM manager at FirewoodFX, you can determine how long the minimum time limit for your investors can withdraw their funds, along with the penalty fees charged if they want to withdraw before your period has passed. Let's say you implement a 20-day locking period and a 10 percent penalty fee, then before the end of the twentieth 20, your investor's withdrawal will be subject to a penalty of 10 percent.

How to Join the Program

Isn't the monitoring system a must?

Any PAMM service applies automatic profit calculations. It's normal!

Isn't it the bare minimum to guarantee funds safety and convenience for managers?

Those thoughts might arise in the minds of those familiar with forex PAMM services. Indeed, most of these features already exist in other brokers' PAMMs. However, it should be noted here that FirewoodFX provides all the benefits with a simple concept that is not complex. All information about PAMM can be obtained easily, and the process from registering to making a withdrawal is downright simple.

For those of you who are interested in registering as a PAMM manager at FirewoodFX, here are the steps:

1. Open a FirewoodFX account
2. Log in to Client Cabinet
3. Open the PAMM menu
4. Click "New PAMM"
5. Complete the registration form
6. Click "Process"

To become an investor, you can directly open the PAMM page that displays the PAMM projects, then click the "invest" button in the "Action" column if you have made your choice. Further information on how to withdraw and other guidelines can be found in the "PAMM Guide" section.

In the midst of intense competition from forex brokers, it is difficult to maintain the element of simplicity that novice traders need. In this case, FirewoodFX can provide a wholesome PAMM service that is easy for newcomers to understand. So, it can be said that simplicity is what stands out from FirewoodFX PAMM service.