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MAM, PAMM or Social Trading: How to Choose the Best One for Your Broker

Finance Magnates spoke with Vasily Alexeev, the CTO and CEO of UpTrader for his perspective.

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Is there a single perfect investment service, or all variations of PAMM, MAM, and copy trading are necessary for a broker’s success? What’s the difference between them, and how to choose the perfect option for a broker.

These are the questions that we asked Vasily Alexeev, the CTO and CEO of UpTrader. In April, his company announced the launch of its investment service UpTrader Invest. 

You’ve just announced the launch of UpTrader Invest. What are the innovations that your solution brings to the table? 

We get a lot of requests for investment services. Someone wants PAMM, others ask for MAM, or social trading. In fact, many don’t see the difference between them, and the truth is, the difference is really minor.

And if we pay attention, we’ll see what the client is really saying: we want a stable and reliable service with flexible settings, and we need it live tomorrow.

So we didn’t create a new technology, we just reimagined what’s already out there on the market and offered a new combination. UpTrader Invest is an investment service with a simple interface and flexible settings. Another hallmark is the high degree of stability. 

You’re putting a lot of emphasis on stability. Is the situation bad now? 

The thing is, many similar services have a common problem—they lose trades, it’s inevitable with external connection to the trading platform MetaTrader 4—that’s the way most of these solutions operate.

UpTrader Invest works in the MT4 core directly, which not only ensures the maximum speed of operation, but also prevents the loss of trades.  

UpTrader Invest—is it more than just MAM, PAMM, and social trading?  

Let’s clear up the terminology first. 

MAM stands for Multi Account Management. This means that there’s one common account used by the trader, while the investors’ accounts are indicative. This scheme allows for a more effective hedging of the strategy’s general position, i.e. moving to A-book. 

PAMM stands for Percent Allocation Management Module, basically the same as MAM. 

Social trading, or copy trading, is essentially the same as MAM, the difference being that the trader operates not in a common account, but in their own one, while the trades are being copied to the connected accounts of investors.  

We offer all three modes of operation. MAM is the standard mode. PAMM is the same as MAM, only investors can’t see the trades.

And the social trading (copy trading) mode—the manager only trades with their personal funds in their own account, the other accounts simply receive copied trades.

A broker can pick any mode it prefers, or enable all three simultaneously. 

Is UpTrader Invest a standalone entity, or a part of your CRM? 

UpTrader CRM was designed as a single control room for the broker on one side and for the client on the other. We create simple and succinct interfaces for the easy management of complex things.

We make an effort to spare our users unnecessary clicks, switching between windows, log-ins. That’s why all new UpTrader products are always integrated into CRM.

However, if someone wants to buy this particular service as a standalone, we can provide the API, and the customer will be able to design their own interface, expand the plug-in the way they want, and connect it to their MetaTrader 4 on their own. 

What instruments are there to trade for a manager in investment accounts? 

Anything available in MT4. For example, if a broker buys a White Label from UpTrader, their clients get access to over 500 instruments: currencies, cryptocurrencies, spot metals, CFDs on futures, stocks, indices, bonds. 

Where and how can a client follow the account operations and manage trades?

Managing trades—no, investors can’t influence trades at all. Investors can connect or disconnect, deposit or withdraw, but that’s it. Everything that goes on in their accounts can be tracked using any available MetaTrader interface: in the mobile or desktop app, web terminal. And, of course, in our CRM. 

How to choose a manager, connect/disconnect a strategy? 

An investor can choose a strategy from the list based on the profit history. They also see the manager’s preferred trading instruments. Then, they submit an investment request, which the manager accepts or rejects. The manager can also opt to accept all investments automatically. 

There are several ways of disconnecting from a strategy, it depends on the account settings: immediately, on approval, or on rollover, i.e. on schedule. 

What are the profit distribution options available in the service? 

The manager has three reward plans that can be selected in the settings: payouts per the manager’s trading volume, percentage of profit generated in a period determined by the manager, high watermark: payment only when investor’s profits reach a new high. 

What’s the earning scheme for the broker?  

There are no restrictions for brokers on how they want to make money in this service. It can be any existing arrangement—spreads, fees. The service works with any variations of A-book/B-book. 

No restrictions on the partnership program, partners receive rewards automatically for the clients they bring to the investment service.  

How fast can the service be integrated? Is there a trial period?  

Integration can be done at the speed of light—a client gets a fully functioning service in one day. Of course, customers can take it for a test run before making a purchase, we offer a trial period. 

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Source: https://www.financemagnates.com/thought-leadership/mam-pamm-or-social-trading-how-to-choose-the-best-one-for-your-broker/

Blockchain

CBDCs Advance in Testing, 10 Different Countries Make Use of Currencies

As the CBDCs are advancing in testing, countries are utilizing CBDCs and have taken lead in the effort of the creation of Central Bank Digital Currencies.

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As the CBDCs are advancing in testing, a number of countries are making use of Central Bank Digital Currencies and have taken lead in the effort of the creation of CBDCs. Guardtime, the enterprise blockchain firm, has recently conducted a survey that shows that veterans from ten different countries would like to utilize a CBDC.

CBDCs Utilised by Different Countries as They Advance in Testing 

In a recently conducted survey, it was revealed that adults from ten different countries would likely use a Central Bank of Digital Currency.

Around ⅔ of the three respondents said that they are going to use a CBDC after the introduction and most of the participants of the study believe a major CBFD is going to be introduced within 3 years. 

Founded by Christopher Leiter and Mike Gault, Guardtime has recently conducted a survey throughout ten major economic regions, Europe, North America, United Arab Emirates, and Asia.

The study has found that around 64% out of all the participants that were there in the survey would likely leverage a CBDC if their country happened to launch one. 

Around 33% of the respondents revealed that they were likely to use a CBDC if a major one was introduced. 

Guardtime Study Says Company Works With Central Banks

As per the study of the company, it is working with different central banks around the world and it believes:

“That the introduction of central bank digital currencies could upend the global economic order.”

In addition to this, the research report notes:

“Around one in three adults (33%) would be willing to convert their savings into a CBDC within a month.  Another 26% would do so within one to six months. Just 11% say they would never convert savings into a CBDC.”

The study adds:

“Up to 30% would be happy to have their salary paid in a CBDC within a month with another 27% following within one to six months. Around 12% would never accept being paid in a CBDC.”

READ  Ripple (XRP) Price Following Uptrend: Can Bulls Take Over?

#CBDCs #Central Bank Digital Currencies

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Source: https://www.cryptoknowmics.com/news/cbdcs-advance-in-testing-10-different-countries-make-use-of-currencies

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Damon Dash of Roc-A-Fella Sells NFT for $10M in Ethereum Linked to Jay-Z Album

Damon Dash of Roc-A-Fella was sued by the firm for trying to sell an NFT on Ethereum that was linked to the Reasonable Doubt of Jay-Z.

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As reported last month, Damon Dash of Roc-A-Fella was sued by the firm for trying to sell an NFT on Ethereum that was linked to the album named Reasonable Doubt of Jay-Z. Generally, when artists try to cash in by generating an NFT of a song, they are just talking about a file that is linked with the music.

Damon Dash of Roc-A-Fella Sued For Selling NFT in Ethereum Linking to Jay-Z Album 

Talking about an NFT, it stands for a Non-Fungible Token, which is just a kind of distinct cryptocurrency that is linked to a file. Well, making a purchase in an NFT gets you the token and a copy of the file, nothing more. 

Moreover, in accordance with the filing by Roc-A-Fella, Dash was allegedly trying to sell the ownership of the copyright to Reasonable Doubt along with the non-fungible tokens

In addition to this, the label mentioned that while Dash may own 1/3rd of the firm, he does not own the copyright to any individual recordings, and can not sell what he does not possess.

As recently reported, Dash is trying to auction off his complete stake in Roc-A-Fella. He announced:

“A new NFT called “It’s The Roc,” which a description promises “will be gifted to the highest bidder on Damon Dash’s 1/3 interest in Roc-A-Fella Inc.”

NFT Made Available to View OpenSea and Foundation

An explanatory blurb on the website Dashnftgallery.io read:

“Damon Dash is auctioning his ⅓ interest in Roc-A-Fella Inc. which owns Reasonable Doubt, Jay-Z’s first album.”

Selling this type of equity is not something that you can do via an NFT auction alone, It’s The Roc, is importantly a non-binding promise from Dash that he is going to sell you his own stake in the firm, at some unspecified point in the future.

Also, it should be noted that there is no limit on what you can send the address, but the site requires a minimum bid of $10,000,000 or equal to this in Bitcoin, Ethereum, Pounds, Euros.

READ  Diem Association Announce Plans for Stablecoin, Shifts to U.S.

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Source: https://www.cryptoknowmics.com/news/damon-dash-of-roc-a-fella-sells-nft-for-10m-in-ethereum-linked-to-jay-z-album

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Amazon Wants to Hire A Blockchain Executive Lead

Amazon has posted a job advertising on its website for a digital currency and blockchain executive lead, signalling potential crypto integration.

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Amazon has placed a job advertisement for a digital currency and blockchain executive lead on its website, indicating future crypto integration.

Amazon Posts A Position For A Blockchain Executive Lead

The job description seeks for someone to “own the vision and strategy for Amazon’s Digital Currency and Blockchain strategy and product roadmap,” as well as someone with a “Deep grasp of the digital / cryptocurrency ecosystem and associated technologies.”

The position would be located inside Amazon’s Payments Acceptance & Experience team and would “create Amazon’s Digital Currency and Blockchain strategy and product roadmap.”

While this appears to be a key position within the firm, it is not the only one based on blockchain. A job search for ‘blockchain’ on Amazon’s job board yields 73 results for various blockchain specialist and development positions.

“We believe that the future will be built on new technologies that enable modern, rapid, and inexpensive payments, and we intend to offer that future to Amazon customers as quickly as possible,” the company declared, according to Business Insider’s Eugene Kim.

Amazon Does Not Accept Cryptocurrency As Payment For Its Items

Amazon Web Services, the company’s cloud-computing division, provides a managed blockchain solution. 

However, Amazon does not accept cryptocurrency as payment for its items. Amazon CEO Andy Jassy (then CEO of AWS) stated in 2017 that the business was not especially focused on blockchain technology, while he admitted that Amazon was “watching it closely.”

Bitcoin and other digital currencies have gained in popularity in recent years, leading to increased institutional use. Facebook, which has funded a digital currency initiative called Diem, is another example of a technology company warming up to cryptocurrencies. 

In May, Apple said that it was seeking for a lead negotiator to form agreements with “alternative payments” partners, with cryptocurrencies listed as one possible area of competence.

READ  CRC’s Ratings Good News For BAT, IOTA; Not For Ripple

#Amazon #Amazon AWS #Amazon jobs #Amazon’s Digital Currency and Blockchain strategy #Amazon’s Payments Acceptance & Experience team #Andy Jassy #Blockchain #Crypto integration #Diem Digital Currency #Eugene Kim

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Source: https://www.cryptoknowmics.com/news/amazon-wants-to-hire-a-blockchain-executive-lead

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Canadian Border Town Halts Crypto Mining to Draw Up Regulations

Massena, a small New York town along the Canadian border has put the brakes on its crypto mining operations with a 90-day moratorium on new miners.

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Massena, a small New York town along the Canadian border has put the brakes on its crypto mining operations. The town has imposed a 90-day moratorium on new crypto miners, during which it will draw up fresh regulations to ensure that mining facilities and rigs are prevented from littering areas.

Canadian Border Town Suspends Crypto Mining Operations

As per a report published by the Associated Press, Massena has suspended all new mining operations for Bitcoin and other cryptocurrencies for 90 days. The town’s supervisor Steve O’Shaughnessy said that the decision was taken after trailers filled with mining equipment started popping up on the main road.

“We don’t want Massena to be filled up with these sea boxes throughout the town,” he asserted. “We don’t want it littered with these trailers that are pumping out Bitcoin.”

Town officials are planning to leverage the 90-day restriction to formulate rules that keep Massena’s roadsides uncluttered and make mining facilities more “presentable.” 

“We just want to make sure if they’re going to come here, that it’s a nice presentable building,” O’Shaughnessy stated.

Meanwhile, the town’s power supplier Massena Electric is in negotiations with three crypto miners. According to a WWNY report, the company is making sure that any deal it makes with these businesses protects its customers, who will also benefit from the increased sales. The energy supplier also has its own moratorium on working with new mining firms.

China’s Crypto Crackdown Brings Opportunities for Massena

Like many other North American towns, Massena has seen an influx of crypto miners ever since China banned mining operations in many of its provinces. Ousted companies scouring for greener pastures look towards the region for cheap electricity and legal support.

This bodes well for border communities that were hammered by job losses in factories for nearly a decade. The emergence of Bitcoin and other crypto mining companies indicates that new jobs are coming out and industrial activity is regaining its lost momentum in places like Massena.

As reported earlier, North America’s contribution to the global Bitcoin mining share is steadily increasing. The United States is now the second-largest hub for crypto mining with 17% of the world’s BTC miners. That is a staggering increase of 151% from last year’s mining rates in September. With more crypto miners flocking to the region, it’ll become easier for the industry to seek the support of regulators to continue their expansion in the future.

READ  Peter Schiff Says Tether Could Surpass ETH, Become 2nd Largest Crypto

#China Crypto Crackdown #Crypto Mining #Massena #North America

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Source: https://www.cryptoknowmics.com/news/canadian-border-town-halts-crypto-mining-to-draw-up-regulations

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