ForexCopy means that traders follow exactly the same trading strategy as a professional, use the same instruments, and implement the same trades in almost real time in their own accounts. Copying trades partly resembles working with PAMM accounts. Under the ForexCopy system, an investor also provides one’s capital to another party, but with social trading an investor does not have to transfer one’s funds to an account of someone else. All an investor has to do is subscribe to a selected expert and the function of automatic duplication will be triggered.
From now on, all trades executed by a professional speculator will be repeated in parallel in almost real time in an investor’s account. In exchange for trading signals received, a subscriber is obliged to share a part of one’s profit with “the mentor”. Apart from that, a managing trader is free to set other reward options, for example, a commission for a daily subscription or a percent from each trade. In this case, a broker acts as a mediator between the two parties involved. A broker does not charge any commissions but earns on spreads. The major difference between ForexCopy and PAMM accounts is that no minimum amount is required to get started. For this reason, social trading suits fine beginners who do not have a starting capital. ForexCopy serves as a forex tutorial for novice traders that enables them not only to make money but also to gain precious trading experience.
Deciding on a trader to copy trading signals, an investor should realize the gravity of the situation. Indeed, the fate of an investor’s capital depends on the mentor’s expertise. What questions should be taken into account? First, take notice of how old a deposit is. It would be better if a managing trader’s account is older than half a year. Besides, it is essential to find out the number of opened and closed deposits. If your candidate has closed a lot of accounts, this trader should raise doubts as commonly traders close accounts to showcase impressive trading results. One more important criterion is the average returns of an expert per month and per year. Make sure you analyze the biggest drawdown on an expert’s balance and an overall profit earned. Specialists advise beginners not to subscribe to the most fruitful traders. It would be a wise decision to copy trades of those traders who are not obsessed with fat profits but suggest minor risks.
Success in ForexCopy depends on a variety of features possessed by one trader: experience, a reliable trading strategy, original trading signals, etc. No wonder, you might think that PAMM accounts look like a less risky strategy of passive investments because such accounts enable traders to invest in a few PAMM accounts in parallel to reduce hypothetical losses. Nevertheless, even despite such weighty advantages, social trading is a more acceptable investment alternative.
ForexCopy is a more transparent service than PAMM accounts that makes it more resilient to risks. The key merit of social trading is the full availability of a managing trader. An investor is free to enter into a dialogue with an expert online with any questions. Besides, an investor can check out a managing trader anytime to evaluate his/her trading results. An investor has the right to close a trade on one’s own and even interrupt any contact with a ForexCopy trader, halting duplication of trades if an investor suspects that a managing trader tries to drain the deposit.
From now on, all trades executed by a professional speculator will be repeated in parallel in almost real time in an investor’s account. In exchange for trading signals received, a subscriber is obliged to share a part of one’s profit with “the mentor”. Apart from that, a managing trader is free to set other reward options, for example, a commission for a daily subscription or a percent from each trade. In this case, a broker acts as a mediator between the two parties involved. A broker does not charge any commissions but earns on spreads. The major difference between ForexCopy and PAMM accounts is that no minimum amount is required to get started. For this reason, social trading suits fine beginners who do not have a starting capital. ForexCopy serves as a forex tutorial for novice traders that enables them not only to make money but also to gain precious trading experience.
Deciding on a trader to copy trading signals, an investor should realize the gravity of the situation. Indeed, the fate of an investor’s capital depends on the mentor’s expertise. What questions should be taken into account? First, take notice of how old a deposit is. It would be better if a managing trader’s account is older than half a year. Besides, it is essential to find out the number of opened and closed deposits. If your candidate has closed a lot of accounts, this trader should raise doubts as commonly traders close accounts to showcase impressive trading results. One more important criterion is the average returns of an expert per month and per year. Make sure you analyze the biggest drawdown on an expert’s balance and an overall profit earned. Specialists advise beginners not to subscribe to the most fruitful traders. It would be a wise decision to copy trades of those traders who are not obsessed with fat profits but suggest minor risks.
Success in ForexCopy depends on a variety of features possessed by one trader: experience, a reliable trading strategy, original trading signals, etc. No wonder, you might think that PAMM accounts look like a less risky strategy of passive investments because such accounts enable traders to invest in a few PAMM accounts in parallel to reduce hypothetical losses. Nevertheless, even despite such weighty advantages, social trading is a more acceptable investment alternative.
ForexCopy is a more transparent service than PAMM accounts that makes it more resilient to risks. The key merit of social trading is the full availability of a managing trader. An investor is free to enter into a dialogue with an expert online with any questions. Besides, an investor can check out a managing trader anytime to evaluate his/her trading results. An investor has the right to close a trade on one’s own and even interrupt any contact with a ForexCopy trader, halting duplication of trades if an investor suspects that a managing trader tries to drain the deposit.
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