PAMM, MAM and copy trading all put someone else's trading behind your account, but they differ in where your money sits and how much control you keep. PAMM pools funds into one account. MAM allocates trades across separate accounts. Copy trading replicates trades into your own account.

ThinkMarkets offers PAMM and ThinkCopy, both on MetaTrader 5. MAM is described here so you can compare it if you are reviewing providers, but ThinkMarkets does not offer it. For the PAMM model in full, see what is a PAMM account, and the product itself is set out on the ThinkMarkets PAMM money manager page.

The three models at a glance

One structural question drives almost every practical difference: does your money leave your own account?

The three models side by side

Where your money sits is the difference that drives all the others

	PAMM	MAM	Copy trading
Where your money sits	Pooled in one master account	Your own account, traded by the manager	Your own account
What you own	A percentage share of the pool	Your own positions	Your own positions
How trades reach you	Allocated as a share of the result at rollover	Allocated across accounts as the manager trades	Replicated trade by trade
Can you trade alongside	No, trading is disabled on investor accounts	Depends on the provider	Yes
Can you close a position yourself	No, you submit a withdrawal request	Usually yes, depending on the provider	Yes
How you find a strategy	Private invitation link from a manager	Through the manager or provider	Browse a marketplace of providers
Typical fees	Performance fee, management fee	Performance fee, management fee	Performance, deposit and registration fees
Available at ThinkMarkets	Yes, on MetaTrader 5	No	Yes, through ThinkCopy

What makes PAMM different?

Your money joins a single pooled account and you own a percentage of it rather than any individual position. That is the whole distinction, and everything else follows from it.

Because one account is traded for everybody, no single participant can override it. Trading is disabled at investor level, you cannot attach a stop loss to your investment, and your only lever is a withdrawal request. In exchange the arrangement is genuinely hands off and the allocation is handled for you.

What makes MAM different?

MAM stands for multi-account manager. Your capital stays in your own account and the manager's trades are allocated across the accounts under their control, usually in proportion to account size or by an allocation method the manager selects.

Because the accounts remain individual, MAM generally offers more flexibility than PAMM. An investor may be able to see activity at order level, apply their own risk settings, or intervene in positions. Exactly what is permitted varies between providers, which is itself a reason to read the terms carefully rather than assume.

ThinkMarkets does not offer MAM accounts.

What makes copy trading different?

Nothing is pooled and nothing is allocated. A signal provider's trades are replicated into your own account, scaled to your settings, and you keep every control you would normally have.

You can close a copied position yourself, trade independently alongside the copying, and stop copying whenever you choose. The trade off is that more decisions stay with you, including which provider to follow and how much to commit. ThinkMarkets offers copy trading through ThinkCopy, where providers can charge performance, deposit and registration fees.

Which model gives you the most control?

This is the clearest dividing line of the three, and it moves in one direction.

How much control stays with you

Relative operational control an investor retains under each model

Copy trading

Full

MAM

Partial

PAMM

None

Indicative comparison of operational control, meaning the ability to open, close or modify positions in your own account. It is not a measure of risk, return or suitability.

A pooled account cannot be partially overridden by one participant without affecting everyone else, which is why PAMM gives investors none. MAM usually gives some, depending on the provider. Copy trading leaves you in control of your own account throughout.

How do results reach your account?

In copy trading and MAM you hold positions, so profit and loss moves as the market moves and you can watch it tick by tick.

In PAMM you hold a share rather than positions. The result is applied at rollover, which runs hourly by default, so the balance updates in steps. Nothing is wrong when it sits still between rollovers, but it does feel different from watching an open position.

How do you exit each model?

Exit speed is the difference investors notice last and regret first, so it is worth understanding before you commit rather than at the moment you want out.

How you get out

The difference investors notice last and regret first

PAMM

A withdrawal request

You cannot close anything yourself. The request needs approval and takes effect at the next rollover, with partial close by owned share applied to open positions.

MAM

Usually direct, provider depending

Your account is your own, so you can often close positions or stop the allocation, but what is permitted varies between providers.

Copy trading

Immediate and in your hands

You close a copied position yourself or stop copying, with no approval step and no waiting for a scheduled process.

What can you see in each model?

All three show you what the strategy is doing, at different resolutions.

What you can see

All three show the strategy, at different resolutions

	PAMM	MAM	Copy trading
Your position in it	Share of the pool	Your own positions	Your own positions
Trade detail	Symbol, price, volume and time	Order level, provider depending	Each copied trade in your account
The manager's own stake	Visible, including floating profit and loss	Provider depending	Not applicable
How often it updates	At rollover, hourly by default	As the manager trades	As trades are copied
The reasoning behind a trade	Not shown	Not shown	Not shown

Under the standard ThinkMarkets PAMM configuration you can see your share of the pool, total pool funds, the number of investors, the manager's own funds and floating profit and loss, and trade detail including symbol, price, volume and time. What none of the three gives you is the reasoning behind a trade.

Which model fits which investor?

If you are weighing PAMM against copy trading at ThinkMarkets, the practical question is usually whether you already have a money manager. If you do, PAMM is built for that relationship. If you do not, ThinkCopy is the model designed for choosing a provider yourself.

Matching the model to the investor

The deciding question is usually whether you already have a manager

Already has a manager

PAMM

For an investor who has chosen a money manager and wants a fully hands-off arrangement with proportional allocation.

Wants separate accounts

MAM

For an investor who wants managed trading but prefers their capital to stay in their own account, where a provider offers it.

Choosing for themselves

Copy trading

For an investor with no money manager who wants to pick a strategy from a marketplace and keep control of their own account.

Frequently asked questions

What is the difference between PAMM and MAM?

PAMM pools investor funds into one master account and allocates results by percentage share. MAM keeps each investor's account separate and allocates the manager's trades across those accounts. MAM generally allows more investor control, while PAMM allows none.

Does ThinkMarkets offer MAM accounts?

No. ThinkMarkets offers PAMM accounts and copy trading through ThinkCopy, both on MetaTrader 5. MAM is described in this article for comparison only, so you can assess the models if you are reviewing providers.

Is PAMM better than copy trading?

Neither is better in general, because they solve different problems. PAMM is built for an investor who already has a money manager and wants a hands-off pooled arrangement. Copy trading is built for an investor choosing a provider independently who wants to keep control of their own account.

Which gives you more control, PAMM or copy trading?

Copy trading. Your money stays in your own account, so you can close a copied position, trade alongside it and stop copying when you choose. In a PAMM account trading is disabled at investor level and your only control is to submit a withdrawal request.

Which model carries more risk, PAMM or copy trading?

Both expose you to loss and neither limits it by structure, so the honest comparison is about your ability to react rather than about the size of the risk. Copy trading lets you close a position yourself. A PAMM withdrawal is processed at the next rollover, and a PAMM account has no drawdown limits and no investor stop loss.

How do fees compare between PAMM and copy trading?

PAMM uses a performance fee charged out of profit on a high-water mark basis and a management fee on equity capped at 10 per cent, both set by the money manager. ThinkCopy providers can charge performance, deposit and registration fees, which vary by provider.

Can I use PAMM and copy trading at the same time?

Yes. They run on separate accounts, so a PAMM investment and a ThinkCopy arrangement can sit alongside each other, and you can trade a standard account as well. Each is governed by its own terms and its own fees.