What does Social Trading Mean?
What Is the Recommended Leverage for My PAMM Account?
How Do I Subscribe to Social Trading?
Can I Withdraw My Money from Social Trading at Any Time?
Which currencies are traded with Social Trading?
How Much Does It Cost to Subscribe to Social Trading?
Is there a minimum amount to invest in Social Trading
Is There a Recommended Amount to Invest in Social Trading?
Can you run Social Trading on a Demo Account?
Can you Run FinGoPro Full Risk and FinGoPro Half Risk simultaneously?
Can you use AP Social in the United States?
How to Setup an AP Social Trading Account?
What Does Social Trading Mean?
Social Trading is a common phrase used to indicate a pool-type management of funds that multiple investors have deposited into a PAMM. PAMM is an acronym for percentage allocation management module, also known as percentage allocation money management. This technology allows multiple investors to deposit different amounts of money, ensuring that each investor receives profits or losses according to their balance and the amount of risk assigned to their account.
What Is the Recommended Leverage for My PAMM Account?
The investor does not determine the leverage on the PAMM. The money manager is responsible for the details that surround the trading on the PAMM. An investor can determine a limited number of aspects regarding their investment in a PAMM.
How Do I Subscribe to Social Trading?
First, Social Trading is not accessible to all the members of Auvoria Prime. The company strives to comply with the laws that govern any country that customers are citizens of, so citizens of the United States are prohibited from Social Trading. As Auvoria Prime is made aware of countries that change their laws regarding PAMMs, members of Auvoria Prime may be prohibited from entering into or continuing to be a part of Social Trading. To subscribe to Social Trading, you can find a link to join Social Trading in the Auvoria Prime back office.
Can I Withdraw My Money from Social Trading at Any Time?
Each PAMM will have different rules. Auvoria Prime only provides exclusive access to the PAMMs but has no involvement in the details around the PAMM. Some PAMMs will allow a weekly withdrawal of funds, while others may allow withdrawals once per month. Please ensure that you read the guidelines that each PAMM is governed by and choose to participate only in the PAMM(s) that meet your wishes.
When a withdrawal time is active, you will be able to withdraw all of your funds.
Which currencies are traded with Social Trading?
The software or manual traders involved in the trading of the PAMM are the ones that will determine which markets are traded. It is most likely that they will be forex pairs and indexes. Again, each PAMM will provide a detailed description of the PAMM, and it is important that you read this information; if you need assistance with understanding your choices, you find the answers to your questions online or with the help of a knowledgeable person or company.
Auvoria Prime cannot advise how to invest your money or any type of customized strategy for your trading. Auvoria Prime finds and vets, to the best of its ability, PAMMs that meet a set of criteria, but the responsibility is ultimately up to the investor.
As with all investing, there are risks, so it is important to ask questions and decide to invest in a PAMM without haste.
How Much Does It Cost to Subscribe to Social Trading?
There are a few costs associated with Social Trading. First, a $300 one-time connection fee grants an Auvoria Prime member to any of the PAMMs in the marketplace. People or companies can invest in as many PAMMs as they choose with no additional fees.
Second, a monthly subscription of $75 to maintain access to a PAMM. This fee is waived if a member has a Silver Access Pass or higher.
Other fees are associated with the PAMMs, but these fees are outside of Auvoria Prime. The fees are commonly performance fees, which is how the money manager gets paid. The performance fee will be in the detailed description of the PAMM and can range from 10-50%. This means that if you receive $1000 profit in a given month and the performance fee is 20%, the money manager gets $200, and your profit is $800.
It is not uncommon to also have a management fee, which is for the broker and liquidity provider for the maintenance involved with the PAMM. This fee varies and will be stated in the description. Please take your time to read the details of each PAMM, so you are aware of the details and have proper expectations.
Is there a minimum amount to invest in Social Trading?
Each money manager will decide this. Some PAMMs can have a minimum of $500, while others may be as high as $25,000.
Is There a Recommended Amount to Invest in Social Trading?
Auvoria Prime cannot recommend an amount but can say that you should only invest what you can lose. This is proper risk management. While Auvoria Prime has done its best only to include PAMMs in the marketplace that meets certain criteria, the markets are volatile, and the unexpected can happen.
One of the criteria Auvoria Prime asks about is proper risk management. This means that stop losses and equity protection are used, so it is very unlikely that an entire account would ever be lost in one trade.
Can you run Social Trading on a Demo account?
No, the information visible to an investor will vary by PAMM. Money managers will often hide the trades so that people cannot copy the trades of the PAMM and thus, bypass paying the performance fees. It is like stealing intellectual property from the money manager.
It is common for the investor to receive a daily report of the trades entered into and a statement of profit and losses for the day.
Can you Run FinGoPro Full Risk and FinGoPro Half Risk simultaneously?
If a person purchases a FinGoPro they can do both the Full Risk and the Half Risk for that FinGoPro. However, this needs to be under the same broker for the price of one AP Social Subscription.
Can you use AP Social in the United States?
AP Social can not be used in the United States. In addition to restrictions imposed by Auvoria Prime, the brokers have their restrictions.
How to Setup an AP Social Trading Account?
For detailed Instructions on how to set up an AP Social Trading Account, visit this link.