The Leaderboard and How to Use It
At Dominion Markets, we focus on staying ahead of the curve to help our traders win. From utilizing commissions to fund educational content for our traders or providing risk management tools, Dominion Markets is a brokerage that focuses on transparency and benefits for our trading community. To incentivize good trading habits, we’ve put a focus on developing our Leaderboard feature where traders can now share their skills to not only grow their cash flow and balance, but also help others earn money in the process.
To clear up any confusion, we’ve put together this simple guide to explain how it works and how this feature should be used. Let’s get started.
***Video guide on how to open a Social Trading account under PAMM***
Log In to Begin
To get started, log in to your Dominion Markets account and you will see your Dashboard. On the left-hand side is your navigation bar. Find PAMM and click on it. This will take you over to the PAMM dashboard where you will see Investment and Master accounts. The loading time may take a while depending on your internet connection so don’t be alarmed. Just wait for the screen to load.
How to open an Investment Account
The Investment Account is an account that can be created for you to place funds where you can follow another trader based on their statistics. This is also known as a follower , where your account immediately takes the trades of the account you are following on the Leaderboard.
To open an account, make sure you are still on the PAMM dashboard and click on the button labelled Open Invest account. You will be taken to another page that is titled Create an investment account. In the input labelled Account Type, it’s imperative that you choose Social Trading. If you do not choose this type of account, the investment account you want to open will not be able to follow accounts in the Leaderboard.
Open the account by checking the box to acknowledge and agree to all the terms and conditions for the service and click on Open Account. Once completed, you will be prompted to log in with your payment account details and password, at which point your Investment Account will now be created.
You should now be able to see your Investment Account in the PAMM dashboard.
Now that you’ve created your Investment Account, go to the PAMM Dashboard Navigation Bar and click on the label Leaderboard. Here you will see all the accounts that have been performing well. As an investor, you can the return on these accounts for both the last 7 days and the lifetime of these accounts. If you have found an account that you like to follow, click on the button labeled Statistics to view that trader’s equity curve and performance fee, among many others. If you are happy with the fee structure, click on the button labelled Subscribe to account in the top right corner of the page.
Now that you’re subscribed, your account will follow the trades taken in this account where you can watch your balance grow.
How to open a Master Account
The Master Account is an account that can be created for you where you manage the trades in the account. As you can probably guess, other investors can choose to follow your account based on your statistics where the trades you take will be copied/allocated to their accounts. In turn, you can set your commissions structure to inform other traders what you charge so that they are aware of the payment structure you’ve set forth.
To open an account, make sure you are still on the PAMM dashboard and click on the button labelled Open Master Account. You will be taken to another page that is titled Create a master account. In the input labelled Account Type, ensure that you choose Social Trading. If you do not choose this account type, you won’t be able to have other accounts follow you and take on your trades.
Open the account by checking the box to acknowledge and agree to all terms and conditions for the service and click on Open Account. Once completed, you will be prompted to log in with your payment account details and password, at which point your Master Account will now be created.
You should be able to see your Master Account in the PAMM Dashboard.
For both the Investment and Master accounts, you have settings that you can alter and change at your discretion. Let’s begin with the Investment Account.
Once you’ve subscribed to someone in the Leaderboard, you will be able to edit your Allocation Method, your Ratio/Lot (risk), and your Loss Limit. We recommend keeping your Allocation Method settings as Proportional by Equity*Ratio to ensure you limit the amount of overexposure to risk, as well as maintaining your Ratio/Lot as 1, which equates to 1% risk per trade.
For your Loss Limit amount, this is entirely up to you. What this setting is for is to cancel your subscription to the account that you followed if you end up losing more than the designated amount in this part of your settings. You can choose exactly how much you are willing to lose, and this is entirely at your discretion.
For your Master Account, you can set the settings for your Performance Fee and how often this fee is paid out to you from the accounts that follow you. For example, you can set your Performance Fee to be 30% of net profits and that this is paid out to you on a weekly basis. This is entirely at your discretion, and we recommend taking what you feel is necessary for your services. Payments will be sent to your payment account.
We’ve found that there are a lot of individuals who are using Dominion Markets who may not have a lot of access to capital but are excellent traders. On the other hand, there are those who have capital but are not as good at trading as they want to be. This allows both parties to earn passive income and increase their ability to earn capital for trading or whatever else their heart desires.
At Dominion Markets, our traders are our top priority as we’ve proven time and time again. We offer 500:1 leverage, allow trading by depositing crypto, and give back to our traders with access to education, risk management tools, and now the ability to earn for their skillset.