Quick answer
PAMM pools investors' funds and shares results by percentage; MAM lets a money manager trade many separate accounts with individual allocations; copy trading lets investors automatically mirror a strategy provider's trades in their own account. Brokers often offer all three to serve different investor types.
| PAMM | MAM | Copy trading | |
|---|---|---|---|
| Account structure | Pooled | Separate accounts | Separate accounts |
| Who trades | Manager | Manager | Strategy provider; copied automatically |
| Investor control | Low | Medium | High (start/stop, risk limits) |
| Typical fees | Performance, management | Performance, management | Performance or subscription |
Which should a broker offer?
PAMM and MAM suit investors who prefer professional management. Copy trading suits self-directed clients who want to learn and stay in control. Offering both widens your audience.
See PAMM / MAM solutions and social & copy trading.