ForexCopy is a service provided by InstaForex that allows you to duplicate orders of Traders even when you are away from your trading terminal. It takes just a few minutes to choose a Trader and set up automatic copying of the chosen Trader’s activity. Alternatively, it takes the same few minutes to set up an account for others to be able to copy trades from you.
One of the advantages of the ForexCopy system is its reliability. The Follower have a measure of control over the situation, as the money stays on their accounts. They can customize the settings and even manually cancel copied orders if they seem potentially unprofitable. The account and funds are under the control of the ForexCopy Followers who can choose to unsubscribe from the Trader at any moment, thus ensuring that no action can be performed without their consent that can be withdrawn at any moment.
Before we begin, we will refer to:
Here are a few important points you should take into consideration before copying:
If you close a copied trade manually then:
The innovative ForexCopy system by InstaForex invites traders to register with the system and provide a paid service of copying their trades to Followers. By giving access to the copying, ForexCopy Traders receive a commission per every copied trade or a commission per every day of subscription.
To become a ForexCopy Trader, open a live account on any InstaForex server and register with the ForexCopy system as a trader. After the registration, set the terms of copying for your Followers and select one of the following payment options
After registration in the ForexCopy system, your trading account is added to the public monitoring list that is visited by thousands of potential Followers who search for top investment projects every day. The ForexCopy system does not limit the number of Followers the Trader may have: they may provide their deal for copying to tens, hundreds or even thousands of Followers worldwide. The copying system is fully automated and does not require any additional actions from the Trader thus enabling them to concentrate on Forex trading.
ForexCopy Traders have an opportunity to copy deals of other ForexCopy Traders by selecting them from the monitoring list. Linking a group of traders whose orders are copied in an integrated manner, a Follower may cover possible losses or join a group of other Followers and copy deals of one Trader on a smaller scale. A Trader may combine different trading methods, technical and fundamental analyses by copying orders of other Traders, analyzing their strategies and averaging the risks.
Depending on a payment option, ForexCopy Traders receive a commission by the end of the day or after the subscription is cancelled. The Trader may set a commission per subscription day and receive a commission every day. If Traders set up a commission per trade, they get commissions for every profitable trade after their Follower cancel the subscription. In the latter case a commission is calculated on the basis of the trading result (total profit and total loss) obtained within the period of subscription to a ForexCopy trader. The commission per lots traded is credited daily on those days when deals are copied to the Follower’s account. All commissions are paid automatically with no additional actions required. Both the Trader and the Follower may monitor a current amount of commission to be paid online.
The ForexCopy system by InstaForex provides investors with a wide range of financial services. Using a revolutionary approach to investments in ForexCopy projects and reconsidering the basic principles of payment settlements between a Trader and a Follower, InstaForex has developed the ForexCopy system, an unprecedented service in online brokerage.
To start copying trades, the follower needs to open a live account on any InstaForex server and register with the ForexCopy system as a follower. After the registration, the follower can look through the monitoring list and copying terms, which traders set to provide their services. The follower also gets an opportunity to set subscription parameters for every trader by selecting currency pairs and the copying ratio.
Subscription parameters are set for every trader individually and can be changed without canceling the subscription. In case the Trader changes the payment options, this move will not affect followers, who have already subscribed to this trader. The system protects the Followers against any corrections made by the trader at his sole discretion and guarantees that copying terms accepted by the follower will be met.
The system is fully automated and does not require any additional actions from the follower. After the trader has approved the subscription, the follower may have to wait for about 15 minutes until the ForexCopy system is ready to copy trader’s orders. Every follower can monitor the statistics on trading and account balance in Client Cabinet.
Depending on a payment option, the trader receives a commission by the end of the trading day or after the subscription has been cancelled. The trader may set the daily commission and receive a commission every day, or a commission per trade and receive a commission for every profitable trade after his follower cancels the subscription. All commission types are credited automatically with no additional actions required. Both the trader and the follower can monitor the current amount of commission to be paid online.
Followers of the ForexCopy system can upgrade their profile and become traders with a right to copy orders of other traders. To enable this option, they choose the corresponding parameter in the Profile. Besides, an account of an upgraded follower will be included in the monitoring list of the ForexCopy system.
The ForexCopy system is designed to enable one trader to copy deals of other Traders. Every user of the ForexCopy system may follow the trading strategies that suit them best by selecting Traders in the public monitoring list and copying their trades.
Any ForexCopy user may copy trades of other users and/or provide their trades for copying.
The ForexCopy system has an extended list of the payment options. The ForexCopy Traders receive a commission for allowing one or more ForexCopy Followers to copy their trades. A commission per copied trade, a commission per subscription day and a trade profit share may be charged. If the Followers choose the latter, they pay only for profitable copied trades.
Besides, a ForexCopy Trader can make his services free of charge for the Followers if the Trader sets the commission by traded lots by the Follower, that is compensated by Instaforex.
There are no restrictions on a number of copied deals of several Traders: the Followers may adjust the system to copy all their trades.
Any InstaForex client may register in the ForexCopy system and subscribe to as many Traders as they wants. There are no special restrictions on registration in this system except for one: only USD accounts are allowed to be registered in ForexCopy. Moreover, clients can join the system for free.
Terms of copying:
The subscription to copy trades in the ForexCopy system shall be cancelled if:
The ForexCopy system by InstaForex allows investors to copy the trades of top ForexCopy Traders. Why is this system interesting for mature traders? Providing their service, ForexCopy Traders receive a commission for copied profitable trades, a commission for lots traded, or a commission for every subscription day.
There are several ways to reward the ForexCopy traders, who provide their trades for copying to the Followers. Registering with the system, a Trader selects one of the following payment options:
The ForexCopy Traders set up payment options at registering in the system. Each payment option is set individually for every ForexCopy subscription: one Trader can receive the commission from the Followers in various ways: per one day, per one trade or profit share.
The opportunity to choose and change the payment options for ForexCopy subscription allows for creating highly convenient conditions for both members of the system: someone values the opportunity to pay after the profit is derived (profit share payment), others prefer to pay per every trade. The freedom of choice and the freedom of offer are the components of the ForexCopy system success, which make it attractive for Traders who strive to earn both from their own trading and from rendering the service of copying their trades.
Company provides the ForexCopy Follower with the ability to follow and copy deals of other traders by using the ForexCopy system. Please note that ForexCopy is associated with various risks and the Follower is urged to carefully read and consider the following risks before registering with the ForexCopy system: