Social Trading Platforms
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You have decided to start trading forex broker copy trade. You read about several platforms and know you can mirror trade. But what about Copy Trading — one of the simplest methods of online trading. Have you thought of trying that? This page will present the differences between these two concepts: Mirror Trading has been in use in the foreign exchange market since the early s.
What could be simpler forex broker copy trade having the best traders in the world handle your trades, completely automating your trading experience? No intervention forex broker copy trade required from the client as the platform controls all the account activity.
All you need to do is log in once a week to see your account balance. Some platforms who offer Mirror Trading achieve it by accumulating experienced traders from various parts of the world.
They provide these traders with free trading accounts, which allows these platforms to display impressive performance histories when audited or tested. Built into their programs, these companies have agreements in forex broker copy trade with several brokers. The company awards the master account to the top performers, and it is mirrored in other connected accounts. Once the client chooses a trader to operate their account, they are advised to open an account forex broker copy trade the recommended broker for this master account.
Seeing what other traders are doing in real-time, following the top performers and copying the traders you like. When logging into eToro, you can immediately notice that this trading platform does not look like any other in online trading today. Complicated charts are presented in a user-friendly way, and parts of the platform look more like a social network than a trading platform.
Only on eToro can you follow other traders and see forex broker copy trade recent activity on your watch list — a live trading feed of the people and assets you choose to follow.
This tool allows you to automatically copy successful traders and open the same positions as they do. In effect, you are building your own people-based portfolio. You can just copy your favourite traders and benefit from their knowledge and experience. The traders displayed there are those who have maintained a low-risk score and have shown gains in recent months.
You can also use the people discovery tool to find more traders to copy. Search results can be filtered by gain, risk score, country of origin and other factors. If you see someone you want to copy, click on their profile and instantly forex broker copy trade their recent stats, bio, trading strategy and an array of other helpful stats. Remember, one of the most important things you need to know is to diversify your investments and risks over a wide range wisely.
With copy trading, your investments are inherently risk diversified, as long as the copied trader manages their risk the same way. Over the years, we have seen how CopyTrader and Copy Trading revolutionised the way people trade and invest.
What is Mirror Trading? What is Copy Trading?