FP Markets Copy Trading (Social Trading)
The unlimited potential for profits in Forex trading has attracted countless financial investors and Forex traders both at retail and institutional levels. However, only a few of these traders and investors have managed to survive and thrive in the business given the costs of trading processes, hard work, and the required amount of capital.
With that in mind, should you avoid Forex trading if you don’t have all the above resources and conditions? No, not really.
Think about it this way, you want to be a superhero, but you don’t have that extra ability that makes you one. Or, at least not just yet. Sure, you can always train and practice hard, but it will still take years and years of learning and practicing to make you a real superhero, or in this case, a professional Forex trader. You will need time to learn, but by the time you finish learning, the investment cost will have already increased, and you will need more money. What a never-ending cycle of doom!
That is why you need to find the best option for modern-day investment to start right away. Your best chance of doing that is by relying on FPMarkets Social Trading. You may not be a superhero just yet, but FP Markets Social Trading can give you the power that you need, i.e., the copying ability, so you can transform yourself into a hero of a similar caliber.
What is FP Markets Social Trading?
FPMarkets Social Trading is a “stepping stone” to joining the Forex market, giving you the ability to copy the trades of professional traders, even when you don’t understand every little trading decision. By joining the FPMarkets Social Trading, you don’t need to worry about the details of your trades and can simply rely on the experts to do it for you.
Similar to how it works in social media, FPMarkets Social Trading creates a dedicated trading community that allows you to follow successful traders and copy their trading activities in real-time. All you need to do is click on the copy button, sit back, and monitor your trades. Later on, when the selected strategies (provided to you by professionals) result in profits, you will also gain some income depending on the amount of your investment.
Nevertheless, you need to understand that joining the FPMarkets Social Trading does not automatically make you a highly successful trader. Even a simpler and more convenient trading system such as social trading could be risky for its participants, because the trades could either result in profits or losses, depending on the circumstances.
What makes Social Trading different from regular Forex trading is that it enables you to trade Forex almost immediately while learning and analyzing various strategies from professional traders. This effective quality makes FPMarkets Social Trading a fantastic option if you want to accelerate your learning process.
Furthermore, FPMarkets Social Trading allows both inexperienced and professional traders to participate in mutually beneficial transactions. That is to say, when the trades are successful, not only will they result in mutual profits, but they will also render additional income, aka performance fees, for the professionals who have created the strategies.
On top of everything, at FPMarkets, Social Trading is available in a wide range of trading instruments, including Forex, Shares, Metals, Commodities, Indices, and Cryptocurrencies. Moreover, it is accessible via MetaTrader 4 and MetaTrader 5 trading platforms with high liquidity and tight spreads from 0 pip. And you don’t have to keep your devices on all the time because FPMarkets provides you with fully automated social trading, Expert Advisors, fast order execution, and minimal slippage.
Unfortunately, at the moment the FPMarkets Social Trading Service is not available to clients under the jurisdiction of the ASIC of Australia.
How does FPMarkets Social Trading work?
In FPMarkets Social Trading, there are two sides, the Copier and the Provider.
New traders who wish to join the Forex market right away can open an FPMarkets Social Trading account and participate as a Copier.
A Copier will have to open and verify a live FPMarkets trading account to benefit from the Social Trading feature. After making your initial deposit, you can access the Social Trading page in your Client Portal to find a list of offers from various professional traders or Providers.
Browse through the list, and search for the best deal for your trading objectives, capital level, and risk tolerance. You can then start your real-time copying after reading through all the details of the win ratio and performance fees proposed by the Provider.
As a Copier, you can also diversify your trading portfolio and benefit from various trading strategies from multiple Providers simultaneously. Choose to activate or deactivate your following status freely from your Client Portal and also mix and match trading strategies from different Providers to maximize your potential profits.
The Copiers would be well-advised to thoroughly check the Provider’s trading history before clicking the copying button. Since FPMarkets updates all Providers’ past-trades and trading statistics in real-time, you need to review all their trading information to ensure that you are replicating the strategies of the right Provider.
Even if you are a hero with a great copying ability, it doesn’t mean that you can just copy any heroes’ ability randomly. You have to carefully select which heroes have the greatest power worthy of copying so you can turn them into your “deadliest weapon.”
At the same time, professional traders who seek more challenges, adventures, and additional income in their trading voyage may participate in FPMarkets Social Trading as the Provider by offering professional trading services in the form of excellent trading strategies.
If you believe you have enough experience and expertise in the Forex trading business and want to become a Social Trading Provider, you need to own an active and verified FPMarkets Live trading account with a sufficient amount of balance available for your trading strategies. Once your live trading account is ready, you may register yourself as a Provider on the Provider Registration Portal using your MetaTrader 4 or MetaTrader 5 credentials.
After your registration process is complete, you can then design an appealing offer to attract as many Copiers as possible to follow your account. You can also set the percentage of your performance fees and how frequently you will charge your copiers for the services rendered; the fees will be collected later when your strategies result in profits.
Difference between FPMarkets Social Trading and Regular Copytrading Service
So, if all you need to do is following other trader’s trading account and copy their trades, isn’t FPMarkets Social Trading just the same as those copy-trading programs out there? What makes this one different?
First and foremost, you should understand that in regular copy-trading services, you are required to entirely bind your trading account with your Strategy Manager’s trading account. That way, all your trading activities will completely replicate each and every trading activity conducted by your Strategy Manager, giving you zero control over your own trading account.
On the other hand, FPMarkets Social Trading, even when all the copy-trading activities are automated as a Copier, you are in complete control of your trading account in terms of management, including the trade directions (buy/sell), trading volume, strategies, and risk settings. You can also decide whether you want your scale your copied trade in a fixed, multiplied or proportional volume based on the Provider’s trading equity or trading balance.
These variable options give you control over how much money you want to invest in a specific Provider or how much of their trading behavior you want to replicate. As a result, you will be able to trade in more favorable trading conditions with better risk management, especially if you are still new to the business.
In Conclusion
FPMarkets Social Trading offers a fantastic mutual deal for both novices and professionals in Forex trading. It will be the perfect option for new traders who want to invest their capital. That way, you don’t waste too much time letting your capital sit and can learn how to trade along the way. At the same time, professional traders can share their expertise and level up their trading challenges while acquiring some additional revenues.
Bear in mind that you need to consider your financial situation and familiarize yourself with various types of risk management before joining the Forex trading business. Only that way will you be able to protect yourself from unexpected and substantial capital losses.
All in all, you don’t need a superpower to become a hero. With FPMarkets Social Trading, you can just copy other heroes’ power and use their resources to your advantage.
