Are you looking for steps and ways to copy trade OctaFX? So you can not miss our brief explanation below about copy trade from OctaFX.
Copy trade services are becoming increasingly popular thanks to being popularized by forex brokers such as Zulutrade, MQL5, and OctaFX. Copy trade services are known as a way to connect investors (people with capital) and experienced traders (people with investment and trading skills).
So with this copy trade it will help investors to be able to make money without spending too much time trading, and traders (traders) will get a commission based on the profits they make. In this article, we will focus on what is Copytrade? and discuss the steps and how to copy trade OctaFX.
What is Copy Trade?
In simple terms, the way a copy trade works is that you copy the trading position of another trader, every time that trader enters an order, your copy trade account will also automatically enter the order. Any copy trader will be executed at the same time as the trader you copied, with adjustable volume or percentage.
For example the signal provider has $10,000 in the account and your account has $1,000, if you copy the signals according to the account ratio, every time the signal provider enters 10 trading lots, your account will enter 1 lot with the same entry, stop loss and take profit is same as signal provider but with smaller volume.
OctaFX Copytrade Service Review
OctaFX is a broker that is quite well known in the world financial markets because it offers low spreads, advanced trading platforms (MT4, MT5, Ctrader), free deposits and withdrawals, high leverage, and is integrated with many financial products such as: forex, crypto, commodities, Index and more.
And what makes OctaFX superior is that it provides Copy trade services, so that it can help investors to access trading positions used by professional traders. By taking advantage of this copy trade feature, investors can benefit from the trading skills performed by the Signal Provider and make a profit.
While the signal provider or Signal Provider will get a commission based on the profit or the number of lots they trade. With the copy trade feature, investors and traders can cooperate with each other and make money together in the financial markets.
Steps and How to Copy Trade Octafx
Before proceeding to learn how to copy OctaFX trades, you must first open an account at Octafx to be able to use this feature or service.
To access the OctaFX Copy trade page, after logging into your OctaFX account, you can access the https://www.octafx.me/copy-trade/ page.
In this section, we will walk you through the basic steps for how to copy OctaFX trades.
Step 1: Choose a Master Trader
On the main interface of the OctaFX Copy trade page, many master traders will appear. Here first of all you have to choose the best master traders to copy the trades they run. For example, I chose ACHASH master because he has broken the record with more than 61% profit and is ranked first on OctaFX in the highest earner.
Step 2: Continue to copy
When you click on the name of the person you want to copy the signal from, a new interface will be displayed. Here will be shown the time at which this trader participated in giving signals, profit, loss, EQUITY, COMMISSION and the number of people who copied the trades that the trader used. You can make a final assessment, if you want to copy the trade from the master trader, you click the Copy Credit button or Set Copy.
Step 3: Adjust the parameters and proceed to copy
After clicking the Set Copy button, the system will display information panels such as Equity, commission (Fees you pay when this trader trades), leverage, and you also have to fill in some information such as:
• I want to invest : A comfortable amount you will invest in this trader
• Set your drawdown: Let's say this trader reaches the maximum drawdown, say 20%. Then OctaFX will automatically close the copytrade with this trader for you.
• The “I want to invest” section is the section where you decide the amount of capital you want to copy orders with that trader. So for example you have a total of $100, you can fill all of them.
Note: You must use an amount equal to or greater than the master trader's capital you wish to copy. To avoid the case you don't have enough capital to copy all orders from the master trader.
Below you Select the relative volume of the order you copied.
Same with orders from Expert Traders: meaning that when a trader enters a 0.01 order, your account will automatically enter a 0.01 order.
Proportional to Expert Trader orders: The system will automatically balance the Lot volume when your account has more capital than the Master Trader you copied. That is, when the Master Trader enters an order of 0.01 buy EURUSD but because your capital is 3 times more than the trader's, your account will automatically enter an order of 0.03 buy EURUSD.
After clicking Confirm, the system will display a message that you have successfully copied.
Step 4: Deposit money to your account
If your account does not have money to continue copying, the system will display a message asking for money to be deposited into the account.
After clicking the Deposit button, a form screen will appear where you can deposit money. Here you can top-up via several payment methods such as bank transfer, Bitcoin, Visa card, Skrill and Neteller. After selecting the OctaFX payment method then click Continue.
Next, enter the amount to be deposited and select Continue.
Finally, transfer money online via Internet Banking, transfer money at a bank or ATM or depending on the payment method you choose.
