Understanding How Multiple Account Manager (MAM) Works and Its Advantages
Most affiliate partners in currency trading are interested in learning about managing multiple accounts. If you are an introducing broker (IB) or trader, becoming a multiple account manager (MAM) is a natural and advantageous career choice. Interestingly, there are lucrative options for advertising MAM on the affiliate site or through media campaigns, even if you are not a trader. Every content about the MAM system and MT4 & MT5 platforms has auspicious marketing value.
Who is a multiple account manager (MAM)?
A multiple account manager, also known as a money manager, refers to a professional trader or money manager responsible for managing people’s portfolios. In essence, the client agrees to a certain level of risk and range of investments they want, with the MAM responsible for opening trades on their behalf. Typically, the MAM receives a fee or commission from the customer. However, competent money managers could also profit from an affiliate partnership program by obtaining a fee. It is a win-win arrangement, provided several account managers can guarantee a return on investment for the clients. Professional money managers frequently make six or seven figures.
Understanding MAM software
Cutting-edge MAM software interfaces with the well-known MT4 trading system. It gives the MAM a great deal of freedom and the ability to handle many accounts simultaneously. MAM users could concurrently copy orders throughout several accounts or change orders for particular blocks of accounts. Money managers can trade swiftly and accurately with MAM thanks to its extensive overview and micromanagement options. A great selection of reports, analytics, and account management software is also provided. All different types of expert advisors (EAs) can improve MAM. These are computer programs that can be downloaded to carry out trading techniques.
Is it possible to utilize MAM software?
Yes, MAM allows you to get started immediately. You only need to master the fundamentals and sign up for an MT4 MAM account. Afterwards, you’ll need at least two financiers willing to provide $5,000 in the aggregate to your administration. As a MAM, you must ensure that you comply fully with all the rules and regulations in your area. The next stage is to market your offerings and amass as many clients as possible if you successfully manage the client’s money and turn a profit.
BlackBull Markets creates the perfect partnership with MAM
Since 2014, BlackBull Markets’ MAM software has provided successful money management services. BlackBull Markets is a renowned and fully licensed international online broker. It has been operating for almost ten years with a lot of liquidity and enjoys a great image in the significant financial sector. It is the best online brokerage for all your MAM services.
Major advantages of being a MAM
One of the major advantages of using the MAM software component is that it allows traders to manage all customer accounts through one master account. Traders can create configurable blocks and collections of subaccounts for their customer accounts, categorizing clients by risk tolerance, methods, preferred investments, balances, lots, ratios, stock, or any other criterion that suits them. With a single click, traders can implement risk mitigation and order fulfilment, managing thousands of concurrent trades and dozens of accounts (nearly) as simple as managing one account.
The MAM software component also allows traders to benefit from total freedom by opening trades on quantities as little as 0.01 Lots. Traders can still make money from low-volume transactions, even if they are novice money managers or serve a small clientele. Reporting and analysis are simple when using MAM, and the system, with trader instructions, can quickly generate various customized statistics and insights, allowing for on-the-go forex trading optimization, while keeping clients informed with thorough account and portfolio updates.
BlackBull Markets is a leading innovator in the fintech sector, investing significantly in the latest technology and keeping a sizable budget for research and development. Working with a brokerage that puts so much focus on technology puts traders at the frontline of fintech advancements, and all MAM users on the platform enjoy some of the finest technical and customer assistance in the financial industry. When handling several accounts, it is crucial to have immediate technical support, which BlackBull Markets provides.
