1. What is copy trading?
Both experienced traders and novice traders can participate in the financial market through copy trading. The so-called copy transaction means that a trader's transaction is executed by an experienced trader who has a reliable record. This trading method provides a unique solution for traders who want to expand their initial capital but lack the time or experience to trade in person. It is also for this reason that brokers provide the possibility of copy trading. There are various platforms that provide copy trading services, including manual, automatic or semi-automatic. All platforms provide a variety of copy trading.
2. The rise of copy trading
First, we want to confirm that there are two main types of traders. One type of traders attend seminars, try to formulate strategies, track all market trends, and obtain "expert trading fees", the other type wants to make money with as little investment and effort as possible.
Mirror or copy trading is born for traders of the latter type. Mirror or copy trading is suitable for many people and is a perfect solution. Over the past five years, copy trading has grown exponentially. The main reason for such rapid growth is that many traders "trust" this system and enjoy the feeling that they are not alone. AvaTrade loves Huawei to provide you with the best and most popular signal provider in the industry.
Copy trading is used by inexperienced traders, and because it saves time, can be part of an executable and profitable new strategy, it is used by many professional traders as a way of market research.
3., the advantages of copy trading
Copy trading has many advantages, thus gaining a place among traders:
• Novice traders can use copy trading to familiarize themselves with the financial market and build trading confidence. Professional traders can use copy trading to participate in the market when there is something to do.
• Copy trading can be used for a variety of financial products, including foreign exchange transactions , stock markets, commodities, and many other similar financial derivatives
• Create a community where novice and experienced traders can exchange opinions, strategies, and improve trading together.
Fourth, how to successfully copy the transaction
To successfully copy a transaction, people have to take the following steps:
1. Find the right broker
Don't miss this one-choose a trusted and regulated broker. With such a broker, funds and customer information will be protected. AvaTrade ensures that client funds are kept in segregated accounts in top international banks. In addition, we are subject to multiple regulations worldwide.
2. Select the applicable account
It's time to open an account on an automated trading platform. We are ready to provide ZuluTrader, Mirror Trader and MQL5 Signal Services for all traders who wish to participate in automated trading.
3. Pick your signal provider
After activating the account, the platform generates a list of signal providers. Traders can find the best one that suits them best.
When following these steps, there are some important things to remember. At each step, people are faced with multiple choices-numerous brokers, multiple platforms, and countless signal providers. It is very important to narrow the choices at each step to suit the needs of their own traders.
4. The subject of what the trader wants to achieve, what he wants to trade, the amount of money available for investment, etc.-must make a decision before starting the transaction. Once a broker is selected, the choice of platform and signal provider should be much easier.
5. Copy trading in AvaTrade
AvaTrade Aihua provides you with a variety of direct and indirect copy transactions, and cooperates with leading signal providers to ensure that you can choose and follow traders from all over the world.
In AvaTrade, you can copy transactions on various leading platforms:
• ZuluTrade -a wide variety of signal providers.
• MirrorTrader -automatic, semi-automatic or manual trading signal provider.
• MLQ5 Signal Service – Send signals to the world's leading platform MT4.