About copy trading
More than 10 years ago, the copying trade service was invented. After that, many agents commenced enforcing such transactions. Copy trading functions are quite easy and understandable. If you want to use this option, you must go to the platform and select the best method provider ( aka “managing trader” or “signal provider”). Later you are required to subscribe to his trades after which all of his transactions will be automatically replicated to your trading terminal without your interference.
The copy trading services permit you to choose the copy trading options based on the functions you choose. This illustrates that not every transaction can be replicated, but few correspond to the prescribed parameters.
Trade copy services can be utilized to instruct self-trading or to develop passive earning. But this kind of platform does not defend the subscriber from the problems of losing funds. If the method provider’s transaction is profitless, the losses can be acquired by everyone to whom this trade was replicated.
A well-known mode of boosting wealth is copy trading, which refers to the method of reciting orders placed by additional experienced brokers to your trading account. Hence, today we’ll look at CopyFX, a well-known platform for copy trading that was developed and is sponsored by RoboForex.
What does the CopyFX platform offer?
The process of copy-trading starts with the partnership of two parties, an investor and a trader. A trader unlocks a trading account in the CopyFX system, executes trading functions through the platform, and reveals some specific outcomes.
To decide whether to duplicate the orders of a trader they find fascinating, an investor, in turn, utilizes the rating of traders to evaluate their data and trading consequences.
This partnership is mutually profitable. CopyFX is an outlet for traders, where a prosperous trader can easily trade with a durable profit and is also able to boost their profit by drawing the attention of more investors. Furthermore, CopyFX is a platform for investors, where they have the chance to select the most prosperous traders from the rating and also obtain gain from trading on the Forex market while paying traders a portion of this profit is subscribed to as a commission for copying.
How to take advantage of CopyFX?
A trader utilizes MetaTrader 4 terminal which is familiar to everyone who works in the trading industry. They can build many accounts and use various techniques. By keeping out trader and affiliate accounts, an investor can replicate orders to any of their MT4-based accounts. An order executed by a trader and replicated to an investor’s accounts simultaneously. There are no costs or fees associated with utilizing CopyFX.
A look at copy trading
To benefit investors, assess the outcomes of traders’ work, and bring the most appropriate option to subscribe to, a unique tool created by the company is known as Rating. The Rating shows traders’ statistics online:
Surplus
Account opened, days
Maximum drawdown
Proportion
(investors) Number of subscribers
(trades)Number of orders
Every trader has a participant card with their details on it, comprising the history of orders (trades) and subscriptions. This participation card has all the details about the trader’s open accounts.
Copy trading platform
Threat administration in CopyFX
A tool called Investor’s Calculator is available to system users, and it can be utilized to create a balanced portfolio of subscriptions to different traders. Traders are categorized into three classes based on profitability: low, medium, and high risks. You will see a predicted outcome of your investments based on the current data exclusive of traders’ commission after specifying the amount to be financed, the investment duration, and the allocation of risks among the three groups.
Kinds of copying and commissions
The CopyFX platform proposes five methods of copying orders (trades):
A test mode permits you to copy traders’ orders with the duplicate minimum ton and delivers the chance to trial their trading techniques with minimum troubles.
A flexible mode delivers the option to copy traders’ orders within a particular percentage range can 10% to 90%. It’s very suitable if an investor has less cash than a trader.
In a Standard mode, the volume of orders you copied matches the traders. If the deposits of a trader and an investor are equal, it is a wise decision.
A risky mode enables you to replicate traders’ orders with a high volume. This mode is utilized when an investor has additional funds than a trader.
A proportional mode permits copying orders from traders’ with a volume that is automatically specified by the system depending on the proportion of funds owned by an investor and a trader.
Traders obtain a commission for their trading outcomes in three distinct ways:
A trader on surplus gets a ratio of an investor’s gain.
A trader on commission gets a commission for each beneficial order.
A trader without commission gets no commission for their orders being duplicated. This method permits beginner traders to illustrate their consequences and entice investors.
Trader’s affiliate program
CopyFX has a trader’s affiliate program. A Trader has the option to set affiliate commission situations for their trading account so that it can attract additional investors.
Anyone who wishes to can sign up as an affiliate and bring in new investors, which will boost a trader’s earnings and can earn commission from them.
Merits and Demerits of copying trades on RoboForex
Merits
- participant-friendly and best-designed interface
- Adequate analytics for dealers
- Low minimum deposit
Demerits
- Underdeveloped Filters are available
- The broker is enlisted in an offshore corporation
The End
CopyFX is a convenient service that delivers successful traders the chance to obtain additional revenue from their (investors) subscribers. Investors can select the most prosperous and permanent traders from the rating so that they could obtain gains by replicating orders to their trading accounts. Extra detailed information related to the system like how it operates can be discovered on the RoboForex blog or CopyFX official website.
FAQS
Can I make funds by copying trades on RoboForex?
Copying trades can be beneficial on RoboForex. The portion of the profit is based on many factors such as your funding, the manager’s trading technique, etc. If you select the correct trader to copy trades it allows you to earn better income.
Nonetheless, copying transactions does not give full security against dangers. All of the strategy provider’s subscribers will lose money if it makes a losing trade. Thus, it is essential to strictly obey the rules of risk management while copying transactions.
What is the Cost of copy trading on RoboForex?
There is no additional commission charged by RoboForex for copy trading. The commission is assessed depending on regular trading transactions.
Strategy providers may demand a commission for copy trading, and it is relatively high in this case. The commission is estimated as a percentage of the gain on profitable transactions.40% is the average commission rate that strategy providers charge.
Is copy trading at RoboForex secure?
Belize is where the RoboForex managing company is recorded. The provincial control IFSC authorizes permission for monetary activity. The document’s IFSCN is 000138/107. The RoboForex license cannot be classified at the top level due to Belize’s status as an offshore jurisdiction.
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