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Forex copy trading is useful across various levels of trading as it allows a synchronisation between trades. This means replicating a certain trade or the behaviours of a certain trader. This form of trading simplifies a highly complicated market for beginners and is a valuable tool for professional Forex traders.
Copy trading can be used by an experienced trader who can create a trade with his master account, and the same trade will be posted across his multiple slave accounts which are linked, obtaining a higher lot size. This means he can multiply the volume of a desired trade, mirror trading through his slave accounts.
Trade copying is also perfect for starting traders who lack the experience and knowledge of Forex trading. Through this form of trading, you can link your trading account to an expert advisor, learning through following. The trader’s performance is presented on the platform as you can track how that strategy has done over time, with all the statistical information on the trade listed, including the winning and losing trades. For every trade there is also a certain amount of risk. For a beginner however, there is control in terms of the amount invested. While there is still the possibility of loss, by following a trader with a successful track record, the investor has better odds of generating a return over time. There is also an opportunity to learn about risk management through analysing an experienced trader’s history.
Trade Copying has revolutionised the Forex industry. Prior to this technology, Forex trading was a venture of experts, however through these tools, amateurs can tap into the skills and techniques of more experienced traders. Thanks to the availability of information and the development of technology, there is no longer a barrier keeping individuals out of the loop. All you need is the trading portal to get started. When selecting a portal, some points are worth considering. There are a series of different brokers that can be used to copy trades across MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The company should offer technical support as well as flexible risk-management tools so there is always a sense of how much risk you are taking on, as well as being able to implement a stop-loss order on investments.
Copy trading facilities can be found through FP Markets. It is easy to set up a demo account or a live account which provides the customer with MT4 and MT5 trading platforms, both of which offer user-friendly platforms on a vps with low latency.
Within the portal, there is a detailed ratings page with high functionality, where the top most successful Forex traders are presented, including their full trading history. If the desire is to replicate that person’s trading behaviour, the user can simply click follow. This creates a subscription to that specific trader’s methodologies at whatever level you decide to invest.
Copy trading is available under the Social Trading label on the FP Markets platform, working as a trade copying mechanism where the user can subscribe to one or various trades. This allows the user to have a lower stake in what they believe to be a good venture, this lowers the risk involved as while the trade can still be volatile, the user can invest less funds into the trade, which remains automated.
There are options for both desktop and mobile sets of trade copier software. There needs to be a simultaneous use of both the desktop and mobile versions. Any trade sent on your mobile will be seen on the desktop version and vice versa. After this procedure is set up on both versions, trading can be easily executed through a phone. By seeing the current successful trends from the best traders on the platform, there is no need for your own trading strategy or a need to conduct market research on forex. Copy trading removes the complexities of the industry.
While FP Markets provides a service for those inexperienced traders in money management, it also allows space for those experts that are trailblazers for the community. To become a provider of trades on the platform, the registration process is the same. On the same portal there is an option in which you create an offer, for those already successful you can charge a certain performance fee and an interval in which this fee will be charged for the exact information of the trade. By showing the success of your past trades over a significant amount of time, the demand for your new trades will be higher. Marketing yourself through the FP Markets platform allows for a higher visibility with smooth functionality, and a bigger chance of customers following your trades and paying the fee with a safe vps. The next step is the monitoring phase, in which all the numbers of followers as well as the performance of the trade parameter is monitored. Overall, for both starting traders who want to follow and learn, and the experienced traders who will trailblaze the path for those starting traders, FP Markets is the perfect portal.
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