How to Find the Best Traders for Copy Trading
Ali Qamar
Tips for Finding the Best Copy Trading Traders
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Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
Most popular
6 - month
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Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
Lifetime
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Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratioSeparate Swing Trading Group
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
1 - month
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
3 - month
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
Most popular
6 - month
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
Lifetime
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratioSeparate Swing Trading Group
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
The forex market is one of the largest in the world and still getting stronger. Most retail traders fancy themselves in the market for profits. However, for the newbies, making trades on their own cannot only be risky but difficult.
3
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Support
Min.Deposit
Leverage max
Currency Pairs
Classification
Mobile App
Rating
Total cost
$ 0
Commission
3.5
Min.Deposit
$100
Spread min.
Variables pips
Leverage max
100
Currency Pairs
40
Trading platforms
Funding Methods
Regulated by
FCA
What you can trade
Forex
Indices
Actions
Cryptocurrencies
Raw Materials
Average spread
EUR/GBP
-
EUR/USD
-
EUR/JPY
0.3
EUR/CHF
0.2
GBP/USD
0.0
GBP/JPY
0.1
GBP/CHF
0.3
USD/JPY
0.0
USD/CHF
0.2
CHF/JPY
0.3
Additional Fee
Continuous rate
Variables
Conversión
Variables pips
Regulation
Yes
FCA
No
CYSEC
No
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
No
CBFSAI
No
BVIFSC
No
FSCA
No
FSA
No
FFAJ
No
ADGM
No
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
Rating
Total cost
$ 0
Commission
0
Min.Deposit
$100
Spread min.
- pips
Leverage max
400
Currency Pairs
50
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CYSECASICCBFSAIBVIFSCFSCAFSAFFAJADGMFRSA
What you can trade
Forex
Indices
Actions
Cryptocurrencies
Raw Materials
Etfs
Average spread
EUR/GBP
1
EUR/USD
0.9
EUR/JPY
1
EUR/CHF
1
GBP/USD
1
GBP/JPY
1
GBP/CHF
1
USD/JPY
1
USD/CHF
1
CHF/JPY
1
Additional Fee
Continuous rate
-
Conversión
- pips
Regulation
No
FCA
Yes
CYSEC
Yes
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
Yes
CBFSAI
Yes
BVIFSC
Yes
FSCA
Yes
FSA
Yes
FFAJ
Yes
ADGM
Yes
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
Rating
Total cost
$ 0
Commission
0.1
Min.Deposit
$50
Spread min.
- pips
Leverage max
500
Currency Pairs
40
Trading platforms
Funding Methods
What you can trade
Forex
Indices
Actions
Raw Materials
Average spread
EUR/GBP
-
EUR/USD
-
EUR/JPY
-
EUR/CHF
-
GBP/USD
-
GBP/JPY
-
GBP/CHF
-
USD/JPY
-
USD/CHF
-
CHF/JPY
-
Additional Fee
Continuous rate
-
Conversión
- pips
Regulation
No
FCA
No
CYSEC
No
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
No
CBFSAI
No
BVIFSC
No
FSCA
No
FSA
No
FFAJ
No
ADGM
No
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
The forex brokers offer various possibilities for copy trading with a plethora of platforms. Some are automated or semi-automated, and others are manual.
Ultimately, the trader always chooses what the best is for them. So, how do you choose the best and profitable trader for your copy trading? Here are some of the best ways to go about it.
Traders with Consistent Profits over Time
When you’re looking for copy trading, profits are at the top of the list. Therefore, the first thing to look out for in a trader to copy is the consistency of profitability. For instance, it’s essential to ensure that you choose a trader that has made a profit over a reasonable period of at least a year.
Some traders may have made huge profits over a short period; hence, it may not guarantee that you’ll as well be able to profits in the long-term. Sometimes, traders can be lucky and make huge profits, therefore, ensure that you select a trader with a track record of profits over time.
Avoid Traders with Huge Percentage Gains
Huge return gains can be convincing, but then the only explanation can be that the trader risked a lot and most probably staked high. Sometimes things can get along pretty nicely, but not all the time as they can also get messy.
Therefore, as much as the strategy can be appealing, one lousy trade also can result in a high loss; hence, you need to avoid such traders.
Traders that Control Losses Well
Someone can tell you that making high profits requires high risks. But how about risking highly and then being hit by loss? Therefore, ensure that you choose a trader with the perfect strategy of minimizing the losses.
Go for Low-Risk Scores
The eToro risk score can be the perfect option when looking for low-risk scores. It will guide you in your research. To calculate the low-risk score, you need to consider such factors as high stakes, huge swings in equity, and high leverage.
In eToro, there’re three levels;
- Below 2 – low risk
- Between 3-6 – medium risk
- Over 6 – high risk
It’s recommended to look for traders with risk scores ranging between 0 and 2.
Avoid Martingale Traders
Losing trades is undoubtedly one of the things every trader hates. The worst part, however, is when a trader doubles the bet and then losses again.
Martingale is doubling the bet whenever a loss occurs. Most traders will continue to double their bet until they win.
In the casino, with a 50/50 scenario, the strategy has worked for most folks, but in the forex market, it has not been the case. Therefore, even if you get a trader with back to back profits, don’t fall victim.
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Conclusion
Choosing the best trader to copy is the first step to make profits. But before making your decision on the trader to follow, ensure you consider their trading fees, winning percentage, whether the trader sets stop levels, and their profits track record. Nevertheless, you should always think about the long-term growth more than the short-term, and be patient.
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