Copy trading is the technical term for the practice in which Forex traders copy the trades of other traders directly into their trading platform.
The difference is subtle, but important: With a mirror trader, a technical system is set to execute the trade if the parameters are triggered, and there is little or no human oversight. Copy trading is extremely popular with both new and experienced traders. New traders appreciate the ability to watch the experts and to have a sounding-board for their own ideas. Experienced traders like to share their ideas and to recruit followers for which they are compensated by the broker.
When choosing a copy trade system, look not only for the right trade leaders yes, you can copy more than one trade leader , but also for which broker is properly regulated and offers the best trading conditions. You may also want to place a few test trades on a demo account before starting. ZuluTrade, founded in , was created in order to enable traders to share their knowledge with people interested in their strategies. In the strictest sense, ZuluTrade is considered a Forex autotrading platform, as it allows traders to automatically copy the trades of others into their own trading platform.
Many also consider it a social trading platform, however, because traders can leave comments and feedback and see live feeds of other traders' activities. Cyprus is a regulated and well known domicile for brokerages. They are also covered by MiFID regulation. Trade is under constant scrutiny and review.
Cmstrader is a relative newcomer to the Forex scene. Since opening its doors in , it has won several international awards including one for being the leading Forex broker and for having best customer service in It offers a host of features but most outstanding is its customer support which is provided in a number of ways including by remote control through team viewer, a high tech and timely system not offered by any other broker.
Report Broker Scams Forex Widgets. Best Copy Trading Platforms - Choosing the Right Copy Trade Platform Copy trading is extremely popular with both new and experienced traders. Top Rated Copy Trading Platforms. Enter your email address here: Sign Up Read Review.More...