Copying Forex trades with LiteFinance Social Trading

Traders should find a broker that maintains a highly competitive cost structure to increase their profitability. FXTM is home to over 2,000,000 traders and offers excellent execution statistics confirmed by Big Four accountancy PricewaterhouseCoopers Limited (PwC). The commission-based cost structure remains one of the most trader-friendly among all brokers, and the Loyalty Program, limited to $10,000, allows active traders to decrease costs further. FXTM Invest caters to copy trading, and FXTM dedicated a guide on how to maximize returns. Education forms a core aspect of FXTM, and it received a Best Education Provider 2020 award.

For example, MT4 does not have “BUY STOP-LIMIT” and “SELL STOP-LIMIT” pending orders like in MT5, so these options cannot be copied. But of course, the regular pending orders like “BUY STOP”, “SELL STOP”, “BUY LIMIT”, and “SELL LIMIT” can be copied between MT4 and MT5 and vice-versa. It’s necessary to understand that the copiers for MT4 and MT5 come as separate computer programs because of the different architecture between MetaTrader 4 and 5. Many customers use the copier on MAC by setting it up with MetaTrader 4 or 5 through the Wine simulator. The software doesn’t install a Windows version on your desktop but translates Windows apps so they can interact with your operating system.

Best Copy Trading Software in 2024 for Brokers

Its PAMM technology consolidates investors’ funds into a single managed account, enabling skilled traders to demonstrate their trading prowess to prospective followers. Emerging from humble beginnings, where trading strategies were exchanged via newsletters, to the advent of virtual trading rooms, copy trading has significantly transformed over the years. Based in the UK and US with a worldwide presence, 4X Solutions has utilised its trading technology expertise to deliver high-quality services to support foreign exchange traders. These range from fully white labelled products for financial institutions to bespoke hosting and management solutions. XCritical is a software development company that provides comprehensive solutions to forex companies.

You can access your VPS on a web browser from any computer, laptop, tablet, or smartphone (i.e., iPhone, Android, etc.). Many users do this, and in my opinion, this is the best solution for Mac users. When you buy Local Trade Copier™, you’ll get both versions with one subscription. You do not need to purchase separate trade copier versions for MT4 and MT5.

Customer Support

In this article, we’ll dive into the essence of copy trading, its potential benefits for Forex brokers, and the strategies to harness its power effectively. Because in the ever-competitive world of Forex brokerage, staying at the forefront of innovation is paramount to success. An independent platform for the interaction of professional traders and investors.

This unprecedented freedom allows brokers to unite clients from all servers into a single investment pool where they may share and copy trading signals without technical limitations. The amount deposited by an investor to a copy-trading account should be equal or higher than the minimum investment requirement when copying is in progress. This means that an investor can only withdraw amounts exceeding the minimum investment while copying a strategy. It is an easy-to-use reliable solution with a clearly defined fee system and transparent strategies information and history that offers an easy copying mechanism for a better trading experience. CTrader Copy is a fully integrated cTrader application and a flexible investment platform that allows for copying trading strategies, as well as providing one’s own strategies for copying by other traders.

Brokeree Social Trading

AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. Copy the trades of successful traders and earn from day one, or provide your profitable trading for copying and get additional income in the form of a commission. With this copy trading software, you choose how you want to manage risks in the financial market. It’s worth remembering that you retain full control over your account, meaning you can pause or completely disable the copy trading for each provider at any time. Furthermore, you can control your risk by either mirroring the provider’s level of risk and position size or by setting a fixed size per trade.

After selecting a trader to copy, copy traders allocate funds to follow the chosen trader. The platform provider will duplicate all actions taken by the signal provider to the copied portfolio, usually proportional to the dedicated capital. Copy traders can stop following a trader or make manual adjustments to the stop loss and take profit levels if desired. Copy trading created a sub-sector of trading, and millennial traders favor the approach, which is not without risks and has failed to deliver consistent results. Soft-FX’s portfolio includes a wide range of products and services, including liquidity aggregation, risk management, and trading platforms for both traditional and digital assets.

Social Trading Branding for FX Brokerages

For example, the trader with the highest return might experience massive drawdowns or could have a very short trading history. Other traders might have lower returns but demonstrate greater consistency. Unfortunately, there is no way to remove risk from trading, but you can help to reduce it. Access management is based on the RBAC (Role-Based Access Control) mechanism. Create user groups with varying privileges to control access to specific sections of the admin panel. Losses will not exceed set daily or total limits, encouraging clients to stay disciplined and maintain their investments even if a strategy reaches its risk threshold.

• The volume of a trade copied into the investor’s account is determined by the ratio of assets allocated for copy trading by the investor to the trader’s available assets (equity).
• Traders who provide these signals often share their strategies and insights with the broader community, allowing less experienced investors to replicate or follow their trades.
• Followers also may turn on proportional copying to equalize the trading risks on small amounts when following the strategy of providers with bigger accounts to mitigate risks and avoid overexposure.
• You can quit replicating their traders and withdraw your investment at any moment.
• Create user groups with varying privileges to control access to specific sections of the admin panel.

Whether you CopyTrade or trade manually, you can choose from a full range of investment instruments. Learn how to create a trading plan, the benefits of having a trading plan, and how it could help you improve your trading performance. Maintain strong knowledge of the markets by visiting the Axi Academy and enrolling in free online trading courses or see our updated guides on the Axi blog. Once that is done, you will receive a confirmation that you are successfully copying the selected provider.

VertexFX Social Trading

It is a form of account management, and several regulators investigate the reclassification of copy trading platforms as investment advisors. Copy traders should always monitor their accounts and never trust a strategy blindly. I rank XM among the best Forex copy trading platforms due to its active internal trading community and connectivity to signal providers across the MT4/MT5 trading environment. Custodial Vs Non-custodial Wallet Main Differences XM also pays a profit share of up to 50% to signal providers, incentivizing profitable Forex traders to submit their trading strategies. A trade copier is a software platform that allows traders, fund managers, and signal providers to replicate trades they have on their accounts. This means you can automatically mirror trades without manually executing the trades yourself on each account.

While most traders never require customer support, copy traders should ensure 24/5 assistance is available, as copy trading platforms may experience issues or copiers need help navigating the options. Leverate, a prominent white label brokerage provider, brings over two decades of experience to the table in creating and managing advanced FinTech platforms. Its reputation is built upon delivering fully automated digital solutions that cater to both B2B and B2C financial markets, aimed at driving effective business results. Investors can add or remove funds to/from their copy-trading accounts at any time while copying strategies. Similarly, this will affect the volume of the copied positions and future trades. Many brokers increase the spreads or commissions on their copy trading platforms to compensate traders.

Launching Social Trading to Attract a New Generation of Clients

Strategy profiles contain statistical tables and graphs that provide information and details about the performance of a particular trader. By automatically replicating your account, copy trading ties up your account with other traders. In other words, if you make a profit, you succeed; if they lose, you also fail. Because traders make up most of the workforce, Copy trading is typically more passive. You can quit replicating their traders and withdraw your investment at any moment.

To be able to start copying someone’s trades, first, you need to open your own live MT4 trading account. It’s worth noting here that once you’ve got a live account, you always have the option to open additional sub-accounts, which gives you extra flexibility. For example, you could use one account for manual trading and another for copying trades. Tools for Brokers is a leading technology provider offering solutions for retail brokers, hedge fund managers, and prop traders. Its ecosystem of products covers the most critical brokerage needs, with its trade processor – a liquidity bridge – being the cornerstone.