7 BEST Copy Trading App, Software & Platform in USA & India

Users can withdraw funds, change personal data and login information. Here you will also find leverage you trade at as well as the account https://www.xcritical.in/ type that can be changed. It’s simple – all the trader needs to do is set the percentage to equity at the beginning of the day.

Every trading account can follow multiple trading strategies at no extra cost. The fact that traders needed to execute all trades manually created a large barrier to entry for traders who wanted to use these services. If you wanted to copy another trader, you needed to monitor the trades shared actively and manually perform the transactions. Now you have to keep track of the results of the trading in your account. You might want to stop a subscription if you feel that it is under performing or you might want to allocate more money to a trader that does exceptionally well. Additionally, you also need to decide whether you want to copy the individual’s current portfolio only, or if you also want to mirror all ongoing trades.

The Basics of Copy Trading

Simply put, everyone within the community will benefit from this trading method. The second important aspect is the easy solution integration into existing platforms with no plugins. If the provider offers a convenient and hassle-free integration and handles all the technical aspects, it is the right business partner.

Newbies find it too challenging to study charts and indicators and spend time on reading analytics. So copying trades allow you to invest money with minimal risks and time. Through your copy trading platform, you choose traders to copy based on their own trades. Once you have done this, your trading positions will be opened and closed at the same time as the traders you copy.

  • Stocks, currencies, indices, commodities – it is your decision depending on your approach and trading personality.
  • Interestingly, this forex trader is more of a swing trader – with an average asset holding time of 3.5 weeks.
  • Naga is a copy trading platform that automatically copies your trade.

Our copy trading software is a versatile and flexible solution for Indian stock brokers, providing them with a range of options for executing trades on their master accounts. Our copy trading software provides fast trade execution times, ranging from milliseconds to seconds, depending on the broker’s API. This ensures that trades are executed quickly and accurately, minimizing the risk of slippage and maximizing profits. The copy trading
method is a relatively new technology that has only recently gained popularity. Let’s take a look at the benefits of incorporating social trading services into your brokerage business. MT4 has been set up so you can mirror the trades and automatically copy the strategies of successful traders.

The platform gives you a chance to preset loss and profit levels. In other words, if the indicator reaches a predefined value or level, the trade will be automatically stopped. The main benefit of copying trades with MTrading is the ability to create https://www.xcritical.in/blog/what-is-a-copy-trading-platform-and-how-it-work/ an individualized approach even when taking into account automated order execution. The aim is to avoid leaving all money on the table due to a single mistake. Offer your clients a daily risk limit – a tool widely used by all investment funds.

To make your copy trade experience as successful as possible, you need to be 100% sure a chosen solution meets your requirements. The following baseline features must be available for users. Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world. A keen trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets. As a new trader, you may want to trade forex for the first time.

How Does Copy Trading Work?

White label architecture is the same as for WLs in the MetaTrader server. Each white label will have access to their account only from manager’s applications, and leaderboards and will also be separated. This means that there will be no interference between accounts. Your clients can use an account nominated in any currency. Trading orders are copied from one account to hundreds of other accounts in seconds.

Once they have registered for copy trading, order will be sent seamlessly. Yes,  Copy trading is legal in the US and most other jurisdictions. You can check if Copy trading is legal in your country below.

Make sure that all of your clients will be able to trade Forex, metals, indices, stocks, and cryptocurrencies. Firstly, to be among the best and have superiority over competitors in the industry. Implementing such a service can expand a firm’s market reach, attract new clients from across the world, and outperform others. Even though this type of trading method is
becoming more and more popular among traders every day, only a few brokers have this option available. This makes many people favour mirror trading over copy trading, as all human error is removed from the equation. For example, the markets are constantly evolving, which may result in the algorithm running on outdated assumptions.

Popular Investors can receive upto 1.5% payment based on average AUC. As such, a trader with $2 million worth of assets under management will stand the chance of earning $40,000 annually. There are, however, several commission tiers at eToro, so those with a small number of copiers will earn less. Yujie He  – who goes by the eToro username ‘Hyjbrighter’, is one the most successful copy traders of the year. This consists of 10 green months out of 10 – which is nothing short of incredible. At eToro, you will have access to two asset classes that yield dividends – stocks and ETFs.

While you are copy trading, it is likely that you will choose to copy the trades of an experienced, and profitable trader. Before this though, there are a few key steps that you still need to follow in order to set yourself up for success. There are a number of factors that will influence this outcome.

Copy trading makes the market more transparent and as such, easier, but it will not turn you into a millionaire overnight. Make sure you take a good look at your traders, especially their trading past. If a trader has got a fast and high return, you should rather leave that one. We advise you to copy a trader who has shown a stable improvement over the course of at least six months. Give your investments time; this rule does not only apply to copy trading, but for any other form of investment you may use. After you applied one or more filters, eToro shows you the traders, their return and risks.

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