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Forex Copy Trading

Forex copy trading has gained significant momentum as one of the fastest ways of generating income, especially during the past decade. That said, the FX industry as a whole is not everyone’s cup of tea, in that only a few dedicated traders manage to become successful while others fail.

In the face of this ever-evolving financial landscape, various innovative technologies, e.g., Copy Trading, emerge to help traders become more successful in this field. So, what is copy trading, and should we use it in our next trading endeavor?

What is Copy Trading?

The idea of copy trading is to “copy” the trades of more experienced and successful traders in real time. Within a copy trading network, pro traders can showcase their trades and strategies, so others can copy, and therefore, conduct the same trades.

Think of a class full of students at different levels. In a scenario like that, you would prefer to have a straight-A student by your side as opposed to classmates who can barely pass the course.
In copy trading, traders can choose one of the following roles:

👌 Provider - traders whose trades can be copied
👌 Copier - traders who copy the said trades

Each broker may refer to these roles differently, but they are the same.

Since copy trading is beneficial for both Providers and Copiers alike, it is very popular, especially among new traders. This trading service can help them boost their trading skills and profitability with minimum effort.

Best Forex Copy Trading Platforms

XM Broker
XM Broker
1. XM Forex Broker is offering an alternative way of trading forex, i.e., Copy Trading to all of its dedicated clients. This program enables new traders to join the ever-expanding forex market right away without having to learn the ins and outs of the business from scratch. Pro traders can also take part in the same program, and share their strategies to earn substantial sums of commission.

2. To join this program, you can either opt for the Investor or the Strategy Manager position depending on your reasons for trading, your investment level, and your experience in the financial markets. Whichever position you assume, it’s going to be beneficial, in that Investors get to start trading by relying on pro traders, and pro traders get to manage more funds and earn more money.

3. As an investor, you need to deposit some money to be able to follow and copy the Strategy Manager’s proposed strategies. In this way, the strategies will be copied to your account as well. The next step is pretty straightforward, you only need to monitor your copied trades and when said trades result in a profit, you are to pay a commission to your manager.

4. If you know the ropes and understand what makes the markets tick, well perhaps the position of Strategy Manager fits your trading objectives better. As a Strategy Manager, you can showcase your well-balanced strategies to attract investors, and when your trades (copied by investors) result in a profit, you’ll get your well-deserved commission as promised.

5. XM Forex Broker understands the importance of the security of funds, which is why the company takes every precaution to make your trading experience as smooth as possible. Thanks to the XM copy trading service, new traders can, not only invest in the best strategies but also learn from the best the market has to offer. So, it’s a win-win situation for both parties, investors and Strategy Managers alike!

6. To use the XM Copy Trading Platform, you need to register as a member and provide the required documents for your verification. The next step would be choosing whether you want to be an Investor or a Strategy Manager. Afterward, depending on your initial choice, you can either follow strategies or share your very own for an agreed-upon commission at the end of each successful trading period.

7. To follow a strategy as an Investor, you need to open an investor account. For that, go to the Member’s Area and click the “Create Investor” button after being completely verified. Once you’re done fulfilling the requirements, choose your strategy manager, review his proposed strategies in terms of leverage, fees, minimum investment, number of investors, and total investment and copy said strategy if it feels right. Your investment amount will be determined using the following formula: Multiplier = (Investment Amount / Manager Equity) X (Leverage Investor / Leverage Manager)

8. To create your Strategies as a Manager, open the Strategy Manager Area, click the “Create Strategy” button, provide the required info for your trading account as well as your proposed strategy and then display said strategy so your potential investors can review and copy them. What’s more, you can use both MT4 and MT5 platforms for your convenience and have more than 10 Strategy Manager accounts. However, your strategies will only be visible to investors who have more than $150 equity.

9. XM Forex Broker made the calculation process very easy by using the High-Water Mark Model. Moreover, investors only pay commissions for profitable trades based on this model. The fees are calculated and paid daily and each strategy manager can charge up to 50% commission for the services rendered.

10. This program comes with a lot of advantages for both investors and strategy managers. Investors get to start their trading journey almost immediately without requiring any experience at all or wasting any time learning useless and inadequate trading techniques. Additionally, they get to learn on the job by observing the best traders do their magic. Strategy Managers also get their hands on much larger capital to experiment with new ideas and strategies more comfortably and of course earn more money by doing what they are good at anyway.

Trade Forex, Cryptocurrencies, Stock CFDs, Turbo Stocks, Commodities, Equity Indices, Thematic Indices, Precious Metals, Energies, Shares

Deposit and withdrawal via Bank wire, Credit Cards, PerfectMoney, Skrill, Neteller, Bitcoin, Tether

Licenses: ASIC, IFSC, CySEC, DFSA, FSCA
Country: Cyprus
Year Founded: 2009



Exness Broker
EXNESS Broker
1. Exness Forex Broker is currently offering a trading program called Copy Trading to all of its new as well as experienced clients. Using this program, new traders can join the FX market almost immediately and reap its many benefits through qualified forex traders. Pro traders can also use this very attractive program to showcase their proven strategies to attract investors and make more money.

2. The key difference between the Exness Copy Trading service and similar copy trading programs is the fact that it enables traders (investors) to have complete control over their funds as well as their Copy trading account. In this way, investors get to dictate what happens to their money even after copying a pro trader’s strategies.

3. Exness clients can opt for this program either as an Investor or a Strategy Provider by taking into account their trading goals, capital levels, and of course levels of experience. Each trader knows his own preferences better than anybody else, so take your time and choose the role that fits you the best.

4. Those who opt for the Investor role need to invest in the program to be able to copy their preferred strategies offered by pro traders. To do that, they need to open a live trading account, fully verify it, and make the required amount of deposit. Afterward, they should head to the strategies page to browse and find suitable strategies. After finding and copying said strategies, all they need to do is monitor their ongoing copied trades and let the pros do their work. They can also choose multiple providers at a time to diversify their portfolios.

5. As for strategy providers, they also need to open a live trading account with the broker and fully verify it to be able to join the program. As soon as the initial procedures are taken care of, they can create and showcase their strategies to attract investors and earn a substantial sum of commission (up to 50%). Moreover, details such as past trading history, performances, and strategies will be posted on the Strategies Page and available to the potential investors.

6. Exness forex broker makes every effort to make this trading program as secure as possible. To that end, only you will have complete control of your money as well as your trading account. Additionally, Exness makes certain that strategy providers are fully verified before being able to share their strategies with their potential investors. On top of that, you can read details, such as past performance, trade results, and trading history of your strategy provider to make an informed decision.

7. to access this program, clients can use iOS & Android devices as well as the web, whichever is more convenient for them. In your Personal Area, in the Copy trading section, you’ll have access to 3 important tabs, namely All Strategies, My Investments, and My Strategies to see all the info you need. The “All Strategies” tab is self-explanatory since it gives you access to all the available strategies in addition to details, including currency, most copied, and return with moderate risk. The “My Investment” tab is where the investors can review their account balance and copied strategies. Last but not least, the “My Strategies” tab is for the strategy providers.

8. To copy a strategy as an investor go to your Personal Area, open the “All Strategies” tab, search for suitable strategies, and check out details, such as total return, risk level, leverage, commission rate, and number of investors, and click “Start Copying.” Once you choose your payment method and investment amount you can begin copying said strategy and get on with your trading journey.

9. To create a strategy as a Strategy provider, you also need to head to your Personal Area, the Copy trading page, and then open the “My Strategies” tab. Afterward, fill out the required info to create your new strategies with details, such as the strategy name, description, and password. Once you’re done click “Continue.” after choosing your account type (Social Standard or Social Pro), set your leverage, currency, and commission rate (up to 50%). When these steps are completed, investors will have access to your new strategies and can choose to copy them.

10. The Exness Copy Trading program can have a multitude of benefits for investors and strategy providers. Investors, especially new traders, get to reap all the advantages of the FX market through their strategy providers without wasting any time learning the initial steps. And strategy providers, get to earn more than before by attracting investors to copy their proposed strategies. Additionally, they can experiment with new strategies now that they have access to more money.

Trade Forex, Metals, Energies, Stocks, CFDs, Cryptocurrencies

Deposit and withdrawal via Bank wire, Credit Cards, PerfectMoney, Skrill, Neteller, Bitcoin, Tether

Licenses: CySEC, FSCA, FCA, FSA
Country: Cyprus
Year Founded: 2008



Tickmill Broker
Tickmill Broker
1. TickMill Forex Broker is offering a very innovative trading program called Copy Trading to all of its clients. Using this unique service clients can join the FX market either as a Follower or a Strategy Provider. Followers get to copy the trades of pro traders and Strategy Providers get to put their strategies on display to be copied by said followers for an agreed-upon commission.

2. To become a follower in the TickMill Copy Trading program, all you need to do is register a Live Trading account with the company, search for suitable trading strategies in the provided list, copy the ones that you like, and make the required deposit amount to get on with your trades. The good news is that you only need to pay a commission for copied trades that result in profits.

3. As a strategy provider, the same initial steps apply to you as well, meaning you also need to open a live trading account with the company and provide all the details concerning your strategies – such details will be viewed by your potential followers who can then copy your proposed strategies for an agreed upon commission (up to 50%).

4. TickMill Forex broker is regulated by prominent regulatory authorities; this shows how committed this broker is to providing safe and secure trading services to its clients. What’s more, TickMill guarantees that you will have complete control over your money as well as your Copy Trading account.

5. As previously mentioned, to use the TickMill Copy Trading platform as a follower you need to have a registered live trading account, choose your preferred strategy from the available list based on the provided details, such as trading type, trading platform, leverage, current balance, equity, and floating PnL, and click Invest. After completing the required form, you can continue with the rest of the process as specified. Then, just kick back and let the pros do what they do best.

6. To create your very own strategy as a provider, you need to have a registered live trading account, complete the required fields in the form, and decide on the amount of your commission (50% tops) as well as the minimum account balance you demand of your followers. TickMill allows you to create up to 3 different offers. Mind you each Strategy Provider account ought to be linked to a different trading account. TickMill also sweetens the pot by giving the strategy providers an additional $2,500 (tops) for their regular followers as specified.

7. The commissions will be calculated based on the Net Profit using the High-Water Mark (HWM) Model. Meaning, each new high-water mark ought to be higher than the previous one to result in a profit. In other words, you’ll only get paid for profitable trades.

8. As a follower, you’ll get to enjoy benefits, such as joining the FX Market right away with no hassle whatsoever and using several strategies at once to diversify your portfolio to minimize your chances of losses.

9. As a strategy provider, you’ll get to trade like before but earn substantially more. So, on top of your usual stacked-up profits, you’ll be compensated by commissions up to 50% at the end of each trading period. And if you ever wanted to try out new strategies, well here’s your chance to do just that. In addition, you can make your trading even more exciting by trying bigger volumes.

10. By joining the TickMill Copy Trading program, you can broaden your horizons both as a follower and a strategy provider. This program is beneficial for both parties, new traders get to experience a high level of trading skills vicariously, and experienced traders get to show off their trading skills and get paid for them.

Trade Forex, Stocks, Commodities, Bonds, Cryptocurrencies

Deposit and withdrawal via Bank wire, Credit Cards, Skrill, Neteller, Bitcoin, Tether

Licenses: CySEC, FCA, FSA
Country: Cyprus
Year Founded: 2008



RoboForex Broker
RoboForex Broker
1. RoboForex brokerage company is presenting a highly innovative trading system called CopyFX to all of its clients regardless of their level of trading experience or knowledge. This system is designed in a way to make the trading experience a breeze since it enables Traders as well as Investors to be the best they can be with minimal effort. Traders get to attract a multitude of interested parties to invest in their proven strategies in exchange for paid commissions and investors get to copy successful trades for even better trading results. Moreover, this copy trading system supports Cross-Copying which is a nice option to have.

2. RoboForex, an esteemed FSC-regulated forex broker and a long-standing member of the Financial Commission Compensation Fund, is fully aware that security is of utmost importance, especially in the world of Forex trading. That is why the clients are offered Negative Balance Protection and security of funds for peace of mind. Additionally, RoboForex has achieved the execution quality certificate of Verify My Trade which further proves that the CopyFX system is as secure as it gets in terms of the clients’ funds and transactions.

3. To join the RoboForex CopyFX System, you can either opt for an Investor or a Trader role depending on your overall trading objectives and investment goals. This all-inclusive trading system provides you with every possible tool you need in your trading arsenal so your success is a sure thing. Furthermore, both roles are full of opportunities if you know how to take advantage, and that’s where this system comes to your aid.

4. Those who are interested in the Investor role simply need to open a trading account, verify it as specified, and use any of the 20 available payment methods to make their desired amount of deposit (no less than $100 of course!), and subscribe to the trader/s of their choice for copying. Moreover, it is possible to choose to pause or cancel the subsections in the CopyFX settings at any time. In the spirit of full transparency, RoboForex provides investors with tools, such as Yield Size, Rating, and Participant’s Card to make seeking traders in the CopyFX system as straightforward as possible. These important tools will allow you to make an informed decision when it comes to choosing your preferred trader to copy.

5. The Trader role is also up for grabs and all it requires is for the avid traders to register an available type of trading account, fully verify it, and set the terms and conditions for their strategies to attract investors for paid commissions. RoboForex also allows you to determine crucial details, such as volume fee, performance fee, subscription fee as well as other terms and conditions regarding client subscription and calculation of profits. You can access all the details of your trading account in the CopyFX settings; therefore, everything is readily at your disposal for your trading convenience.

6. As an investor you need to subscribe to the trader’s account (MT4/5 Trader). To do that, after opening your trading account (non-Trader MT4 or any MT5 account with hedging position accounting model), go to the “Rating” tab to subscribe to the trader of your choice using any of the following methods: 1) pay a commission based on the volume of profitable transactions, 2) pay a percentage of the total profit for all the copied transactions, or 3) choose the Free Subscription option, and finally confirm your choice. To subscribe to the R StocksTrader Trader, use the mobile application or the platform via mobile and follow the same steps by choosing the R StocksTrader account with the hedging position accounting model.

7. The calculations for copy modes are done based on the chosen mode as follows:
Proportional: = x x ( / )
Classic: = x
Fixed: = .

8. To join the CopyFX system as a Trader, simply go to the RoboForex official website, fill out the registration form in the Members Area, and select the CopyFX or any MT5/R StocksTrader account with hedging position accounting model. Afterward, make a deposit so you can determine the terms and conditions of your clients’ subscriptions. You also need to choose your commission scheme from 4 possible choices, namely Volume Fee, Performance Fee, Subscription Fee, and Trader without Commission. The next step will be the investment period (1, 2, or 3 weeks) and after determining the starting date, you can specify the affiliate program payout percentage (10 – 90%). As for the registered members of RoboForex, they need to log in to the Members Area, choose an MT4 trading account or MT5/R StocksTrader account with a hedging position accounting model, and follow the same steps to finish the process.

9. The traders need to bear in mind that they can edit the subscription conditions only once a day and the minimum deposit specified for the investors should be enough to maintain the copied positions. On top of that, the commission type should be set ($1 - $10 per transaction / Percentage 5 - 50% / Fixed Commission $5 - $100), only closed transactions will be calculated for a commission, and if the profit is less or equal to the value of commission, no commission will be paid. What’s more, new traders get to opt for the Trader without Commission scheme to attract new clients which will make them stand out among the rest for future investments.

10. RoboForex has also taken the guesswork out of the equation when it comes to receiving your profits as a trader. To that end, when the investment period is over, the commissions will be transferred to the trader’s account using the following formulas: = ( - - ) * OR Commission> = * depending on the chosen scheme. Please keep in mind that you only receive your commission if and when the Investor’s high watermark increases during the week.

Trade Forex, Stock CFDs, Turbo Stocks, Commodities, Equity Indices, Precious Metals, Energies, Shares

Deposit and withdrawal via Bank wire, Credit Cards, PerfectMoney, Skrill, Neteller, Bitcoin, Tether

Licenses: FSA, CySEC
Country: Cyprus
Year Founded: 2009


How does Copy Trading work?

Copy trading consists of Copiers and Providers. The following diagram depicts a better picture:
Forex Copy Trading
First, the Copier chooses his preferred Provider(s) from a list of available pro traders by studying their strategies as well as past performance statistics. The statistics include detailed information, such as monthly returns, total returns, number of followers, maximum drawdowns, graphs, and risk levels. There is also information regarding the commission rate, strategy used, and trading instruments. This helps the Copier decide which traders to follow.

After choosing the Provider(s), the Copier can decide on the investment amount and allocate a specific percentage of his funds for copy trading. Once set, that portion of the capital will be used to copy the activities of the chosen Provider(s) automatically. These activities include but are not limited to buy, sell, stop loss, and take profit.
Then, the Provider shares his trades to be automatically copied into the Copiers’ accounts. When the chosen Provider executes a trade, the same trade will be executed in your account simultaneously.

If the trades are successful, the Copier will receive profits without doing anything and the Provider will get a percentage of the profits as a commission. However, if the trades fail, the Copier will lose his investment and the Provider will not get a commission.

The following example will help you understand better how copy trading works.
How Copy Trading Works
You choose to subscribe to Trader X’s strategy. Trader X has 2,000 USD, while you have a total of 500 USD in your account, and you have allocated a 100 USD investment. Then, Trader X uses 10% of his fund (200 USD) to open several trading positions. Simultaneously, your account will also open the same positions using 10% of your allocated investment, i.e., 10% x 100 USD = 10 USD. The profits and losses are then calculated based on the same percentages.

Important things you should know about Copy Trading

Even though copy trading sounds like an easy way to earn profits from trading, the following factors should be considered:

Choose your copy trading platform wisely

Not all Forex brokers are a good choice for copy trading. Before registering a copy trading account, you should research and compare different platforms to make sure your broker aligns with your trading styles and objectives. You should also learn about their commission calculation process.

Choose your Strategy Providers carefully

Picking the right traders to follow is not always cut and dried. Their past performances and results may seem promising, but you still need to do your own research concerning criteria, such as their maximum drawdown and level of experience. Alternatively, you can try with a smaller amount first, and after making sure that the traders’ styles suit yours, you can gradually add more funds to minimize your risks and losses.

Make sure to choose the right type of copy trading

Two types of copy trading are usually offered by Forex brokers. One is copy trading in which trades are copied automatically, meaning you cannot choose or modify which trades to open. The other one is social trading, which is semi-automatic. In other words, it allows you to choose, copy, and modify the trades you want to some extent.

Copy trading is still risky

Even though no prior trading experience is necessary for copy trading, you should still understand how copy trading works and familiarize yourself with important terminologies. That is to say, you must at least have an adequate understanding of forex trading in general. You do not want to step into the risky world of Forex trading and invest your money without any preparations.

Always monitor your trades

Even though you can leave your trades in the hands of experienced traders, you should always keep an eye on your trades to track their performance and ensure that there is enough margin in your account. Bear in mind that not even a perfect past performance can guarantee any future success. With that in mind, you have full control of your trades and you can adjust the risk parameters according to your preferences.

Pay attention to commission rates and minimum deposits

Different traders usually have their own minimum deposits and commission rates. You can check these details before subscribing or following the traders. Make sure to consider these factors before copying a pro trader’s strategies.

What are the benefits of Copy Trading?

As a popular trading service, copy trading comes with various benefits for both new and professional traders. Here are some of them:

👍 A great way to start

Beginners often feel insecure about starting their trading journey. If you are one of them, then copy trading can be a good option for you to use pro traders’ expertise.

You can follow and observe the trading activities of pro traders to learn the ins and outs of the business. After feeling more confident about your skills, you can gradually start to develop your own strategies to take your trading knowledge to the next level.

👍 An efficient way to trade

Not all traders can dedicate hours and hours to learning how to trade, read the markets, develop strategies, and monitor trades.

Copy trading is a solution that streamlines the trading process. This will enable you to earn money from trading with the help of top traders. However, make sure to set up your risk parameters and monitor the trades properly to avoid any unexpected losses.

👍 Portfolio diversification

We know that Forex trading carries a high level of risk. So, you’d be remiss to put all your eggs in one basket. Copy trading helps you manage your risks and mitigate potential losses by diversifying your portfolio.

By using copy trading, you can choose to follow different strategies, such as swing trading, day trading, scalping, and other short-term trading methods. You can also trade in different trading instruments or choose to follow different traders to increase your potential profits.

👍 A chance to earn more money

Experienced traders can also benefit from the copy trading service. They can register as a Provider and share their strategies with other traders to earn commissions from their successful trades.

By managing a larger capital as a provider, your potential income increases significantly as well. It also gives you a chance to find out how good your trading skills are. You should know that the bigger the challenge is the bigger the risk will be, so do your due diligence before jumping into the deep end.
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