Copy trade is a popular form of trading today, it not only minimizes the risk for new traders, or traders who do not have too much trading time, but also helps the experienced traders themselves to earn more. gain profit by sharing trading orders with others. Currently, most reputable forex brokers have copytrade, in this article we will go together to learn how to trade on FXTM.
What is Copy Trade?
Copy trade is a method of copying trading orders from other traders, thanks to the internet connection, the orders will take place at the same time with the strategic manager - who you choose to copy the order, the volume is optional. adjust the percentage based on each person's capital, to help keep the account from burning.
So you can see the actual copytrade process is very simple, you just need to deposit, choose a reputable trader to follow orders, when the strategy manager - who you copy the order into the order, the software will automatically copy the buy and sell orders of that trader, when they close the trade then your order will automatically close as well.
Basically, copy trade is a form of trading in the form of Win-Win you also have profit and strategic managers also enjoy a commission discount from yourself according to the pre-agreed agreement ranging from 30% -50 %. However, the 30% -50% commission deal is only paid when the trading manager wins the Thang, in case of a loss you will not have to pay.
In addition, to avoid the trade manager "needing" the trading floor, there is always a requirement that the manager must execute trading orders and deposit a minimum amount according to each trading floor's regulation, usually from 500 USD or more. up. This means that if the trade order is losing not only those who copy the order, but the strategy manager himself will lose money. As a result, it will improve the responsibility for the order itself, so that they do not hit the feeling as well as avoid losing the wrongful copy.
Example of FXT's CopyTrade platform
Let's say your account has 1000 USD. After consulting the list of more than 600 FXTM strategic managers, you find 2 strategic managers worth your money for the achievements they have achieved in a long time, along with having 1 strategy. effective capital management. For example, there are reasonable levels of profit-taking and stop-loss, especially the low percentage of drawdown (the rate of capital decline of an investment account from the beginning of the period to the end of the period).
So, you decide to invest 500 USD in strategy manager A, who wants to get 30% of the profit for each winning trade and the remaining 500 USD for strategy manager B, who wants to receive 40% of profit for every winning trade.
Suppose, in a month, the strategy manager A makes 5% profit and the strategy manager B makes a profit of 20%, your total profit / return on investment will be as follows:
Profit from A = $ 500 x 5% x 30% = $ 7.50
Profit from B = $ 500 x 20% x 40% = $ 40
The total profit for both A and B you get is: $ 47.50
Return on investment = 4.75%
This is just an example, maybe you will also lose money from both managers of this strategy. However, it is important that you only pay the strategic manager% of agreement beforehand if they are profitable, if they lose, you will not have to pay anything.
Is FXT CopyTrade service really reliable?
FXTM is not a strange exchange for many Vietnamese traders, this is also considered to be one of the most prestigious forex trading floor today. In addition to the pleasant spreads, FXTM's outstanding pluses are the super low commission of only 4 USD!
See more: Review of FXTM trading platform
Not only that, FXt's copytrade service is also used by many traders. Because the number of strategic managers operating on this floor is very large, up to more than 600 managers. In addition, FXTM provides detailed and thorough trading history information for each manager. Not only that, besides the commission charged for each profitable transaction, you will not lose any fees and hidden fees. This service is suitable for people who do not have much knowledge of foreign exchange trading, and experienced experts.
You can also track results in real time via the FXTM website or app. In particular, the minimum deposit amount to participate in FXTM copytrade is very low, only from USD 100 or more. And most importantly, you can withdraw money immediately
Because of the above advantages, FXTM is very worthy for you to consider copying orders.
Guide to CopyTrade at FXTM
Before you can copyTrade, you must open an account at FXTM. If you have not registered, you can click on the link below to register.
Please note that after you have completed your registration, you must upload the documents and papers for approval by FXTM. After the review is complete, a staff will call to notify you.
After completing the steps above, you log back into your account and access the following link: https://my.forextime.com/en/accounts/open/investor to start copying FXTM Copytrade platform signals. In this section I will guide you 2 main parts including: the basic steps to copy signals and choose the best quality signal provider.
Step 1: Select a signal provider
As mentioned above, it is very easy to find a quality strategy manager based on information provided by FXTM itself:
The information you need to note about a trader to evaluate the quality you should carefully review the profit chart over time, total profit%, risk level, participation date,% profit sharing leap ...
In addition, you can also take a close look at each strategic manager's personal page to see weekly, monthly, or 3-month and 6-month performance, as well as the average daily win / loss rate, most profitable / unprofitable day, biggest win / lose, consecutive win / lose day, average trading time, winning rate and currency pairs that the most strategic manager trades.
Look as closely as possible, although it takes a lot of time to do some research, a rating system and detailed trading records that will hopefully help you find the most profitable Strategic Manager.
In my opinion, you should choose the strategic managers who have been trading for a long time, preferably one year or more and the strategic managers whose profitability increased steadily instead of having rate of 50% -60% then you should prioritize the strategic managers with the profit ratio of 30% -33% "like squeezing lemon" every month to achieve the same performance, the same level of dradown The lower the better.
To give you an idea of what kind of profit you can make, just look at the list of top-ranked Strategy Managers and look at their total profits.
For example, the top-ranked trader at the time of writing, Profit-Rocket, has a total profit of 2248.69% and according to profit calculations, will turn $ 1000 into $ 16,066 in the last 120 days. .
Similarly, MoneyPower, the # 2 trader who has been trading for over a year, has turned $ 1,000 into $ 12,519 in just one year, which is another great profit.
Step 2: Proceed to copy
Based on the tips we just mentioned above, you can find a trader who is right, right? If so, you will press the green "invest" button on the right hand side, then deposit the amount you want to invest according to the trader. Good luck!
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Author: Tin Nguyen
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