For those who do not want to complicate the trading process, there is a procedure for copying transactions. It allows you to use well-established trading systems for Forex money management. Many auto-copy services allow talented traders to broadcast their signals to the network directly from their accounts. But before investing in them, it is recommended to study copy trading India, find out the advantages and disadvantages.
How does copy trading work?
The essence of the way to earn money is simple: speculators trade on their accounts, attracting investors with the efficiency of trading. The second subscribe to signals. On the investor platform, user trades are automatically opened with a slight delay.
Information about an open transaction is sent to the servers of the copy service, and to subscribers through their forex brokers.
Benefits for members
The investor’s earnings do not depend on personal trading skills. The main thing is to choose a professional trader.
The signal provider shares trading results for a fee. This can be a commission on profits or a fixed monthly rate. The speculator exposes the number of payments independently.
Most Popular Independent Services
Independent instruments combine participants with accounts at different brokers. The most popular copy trading India services are described below.
eToro
The eToro broker is primarily focused on social trading. This is one of the largest dealers, so there will be no problems with choosing a manager.
An unlimited demo account for $100,000 is available on the platform, which allows you to evaluate the quality of the work of the dealer and managers.
Investors have 2 ways to copy:
- subscription to transactions of a particular trader;
- work with CopyPortfolios — thematic investment funds that select solutions according to different criteria.
AvaTrade
RoboForex
The site is suitable for both beginners and experienced traders. Many users prefer to trade here, due to the excellent conditions offered by the broker. DupliTrade is not a standalone trading platform, but a service for copying other traders’ trades. Two other services for copying trades are the well-known Zulutrade and MQL5. They do not require the registration of a separate account.
The company offers the CopyFX service for copying trades, which has significant advantages over similar services from other brokers. CopyFX is very convenient for traders trading in the foreign exchange market. The main advantages are convenience and transparency in its use.
IC Markets
The company provides a service for copying transactions of successfully trading traders. The broker offers investors to use a third-party service where a personal trader is selected. Icmarkets allows you to connect to the Myfxbook AutoTrade service directly from your personal account.
InstaForex
Using the ForexCopy service from InstaForex, we can copy transactions of those traders who make a profit on the Forex market. Everything happens in real-time, and scaling is also applied due to different sizes of deposits or the use of transactions of several traders on one subscriber account.
FXTM
FXTM Invest is an innovative solution developed by the company’s specialists that allows investors to track the trades of the best traders and copy their trades to their accounts. And traders, in turn, receive an additional inflow of capital in the form of commissions for services rendered, which allows them to significantly increase their trading volumes.