Forex Copy Trading Basics Top 5 Tips
In every aspect of life, when opportunities present themselves, there are usually great opportunities that you should take and under-handed deals that should be avoided. This applies to the art of copy trading.
Popularity of Copy Trading
Is it only a fad?
With the popularity of copy trading or mirror trading is an obvious evolution of the automated forex system, which enables even novice traders to access the beneficial world of forex trading without having an in-depth knowledge about the same.
NetoTrade is a global Forex broker, established in 2012 and regulated under the Cyprus Securities & Exchange Commission. It enables trading on forex pairs, commodities, indices and share CFDs, and offers one of the most extensive trading academies in the industry.
In the USA
While the copy trading concept has become a dominant force in the Forex industry, customers from the United States are often barred from utilizing many of the prominent international platforms due to the FATCA legislation.
Who are FXCM?
Established as Forex Capital Markets in 1999, FXCM was founded in New York. It is a publicly listed company in the New York Stock Exchange (NYSE). FXMC.com is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission and is a member of the National Futures Association (NFA # 0308179).
Signal Provider Review
Fibotradingchris from Zulutrade.com
Fibotradingchris is a signal provider on ZuluTrade.com copy trading platform. Among the thousands of ZuluTrade systems, Fibotradingchris is currently ranked at number 1. As of August 18, 2014, 4,298 investors were following Fibotradingchris with a combined capital allocation of $6,867,845.
Who are Pepperstone?
Founded in 2010, Pepperstone Financial Pty Ltd is an Australian execution only Forex broker. It was established by a veteran management team with several years of experience in the Forex industry with expertise in relevant technology development.
Signal Provider Review
Sphynx from ThirdBrainFx
ThirdBrainFx develops automated Forex algorithms and the company has been operating with thousands of satisfied customers since 2010. Among 30+ publicly available strategies from ThirdBrainFX, the Sphynx is considered as one of the prominent trading strategies. It is currently available to all brokers who are offering MirrorTrader copy trading service.
Who are ThirdBrainFX?
ThirdBrainFX offers a portfolio of Forex trading strategies, developed by ThirdBrain SA, a trading strategy developer based in Switzerland. Since 2010, ThirdBrainFX has been operating as a trading strategy provider on the MirrorTrader platform developed by Tradency.
Forex Trading Beginners Guide Part 2
Advantages and disadvantages of forex trading
Therefore, it is only logical for any trader or broker to go through the related advantages and disadvantages.
The advantages are:
- For starters, the forex market is undeniably the largest market when it comes to trading money in large volumes all around the world.
Who are eToro.com?
Two brothers, Yoni Assia and Ronen Assia, collaborated with David Ring to develop one of the first social trading platforms in 2007 and founded eToro.com. Initially, eToro.com was launched as a financial trading platform in order to bring top class financial service to the masses.
The first product was download only and it had graphic trading visualization aids for traders. Later, eToro.