Both MAMM and PAMM are account management structures, but they operate differently:
MAMM (Multi-Account Money Manager): Each client account remains separate. Clients can control their own risk by adjusting lot sizes or leverage individually while still following the master trader’s strategy.
PAMM (Percent Allocation Management Module): All client funds are pooled into one master account. Profits and losses are distributed proportionally based on each investor's share of the total pool. Clients have no control over trade size or risk after investing.