The Best Copy Trade Forex Brokers for 2019 • Benzinga - Benzinga

Posted: 11 Apr 2019 12:00 AM PDT

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Did you ever glance at a classmate's answers when you were taking a test in school? Unlike in school, copying isn't considered cheating when it comes to copy trade forex. In fact, it's perfectly legal and many brokers offer copy trading platforms to clients. If you want to make money trading forex but don't have the skills or time to learn the specifics, copying the trades of a professional is something you can consider.

Quick Look: The Best Copy Trade Forex Brokers

Copy Trading and Forex: The Basics

Copy trading is considered an offshoot of social trading. Social trading is a concept in which novice traders quickly increase their forex or stock market earnings by imitating seasoned traders. To do it, you might seek out a few experts whose trading style or strategy you want to copy. From there, you can use one of two methods:

Copy Trading

When you copy trade, you set up your account to copy certain orders from one or many expert traders. Copy trading actually involves linking part of your account to the account of the expert you want to imitate.

Mirror Trading

Mirror trading does not involve linking your account to an expert's account. Instead, you set up your account to completely copy (or "mirror") all trades from an expert.

Let's invent an expert trader — Frank Forex. Frank Forex has a solid history of great returns in currency trading. Frank's strategies are complex, so instead of learning them yourself, you just hitch your wagon to Frank's cart.

To copy trade with Frank Forex, you'll link a portion of your account (minimum and maximum amount will differ by broker) to Frank's. When Frank makes a trade, your account makes the same trade in proportion. Most brokers have the option of copying certain types of trades or all the trades made in the linked portfolio.

If Frank Forex has a down year, you can choose to unlink your account with his and move on to Cindy Currency, the next high-rising trader you'd like to emulate.

What to Look for in a Copy Trading Forex Broker

Copy trading works differently depending on the broker you choose, so make sure you do your research. The platforms vary, but the best copy trading brokers do have a few things in common. Look for the following features when making your choice:

Low Minimums

Low minimums are always a good feature to have in a forex broker, but we aren't talking about minimums to open an account or execute a trade. Each broker has a minimum amount that must be put into an expert's portfolio in order to copy their trades. Make sure your broker doesn't have minimums that force you into copying only one or two other traders.

Easy-to-Use Platform

One of the appeals of copy trading is you don't need to do the research yourself. So why would you want to spend a lot of time troubleshooting trading software? Pick a broker with a simple interface and fast trade execution.

Diverse Network of Traders

Diversification isn't just for your 401(k). Social trading is a brewing phenomenon and a strong user base is the key to any social network. This is even more critical when you're copy trading forex. Anyone can scroll through a list and copy the traders with 90% win rates in the current month. You want to be able to tap into a diverse network of traders who are practicing different strategies in different markets.

Remember that copy trading doesn't just net you free money. Even the best traders go through long, cold streaks and they might have more capital to burn than you do. Copy trading is a way to avoid the nuts and bolts of the forex market, but it's not an excuse to be ignorant. Try to learn why the traders you copy make their moves.

The Best Copy Trading Forex Brokers

Using the criteria listed above, Benzinga has chosen the five best copy trading forex brokers available today. Use these five as a starting point for your research, but remember, not every trader has the same needs.

eToro

Commissions

Depends on location of trader

Best For

U.S.-based cryptocurrency traders
Derivatives traders outside the U.S.
Social and copy traders
Traders new to derivatives

Touting itself as the largest social trading platform on the planet, eToro is the giant in the space with clients in 140 different countries. eToro has a firm handle on the stock, ETF, commodity, currency and cryptocurrency markets.

Major forex pairs are limited to 30:1 leverage, while minors get 20:1, commodity CFDs get 10:1 and you can also get 5:1 on stock CFDs. (Note: U.S. traders only have access to cryptocurrencies.)You'll need $200 to open a copy trading account.

Social trading takes shape in a couple ways on eToro. First, there's the manual option. Simply search through the vast collection of trader profiles and sift through their stats. If you want to copy entire accounts, you might like CopyPortfolios. CopyPortfolios lets you mimic the portfolios of top traders or create a basket of different securities under one trading strategy. eToro's social network provides every member with a newsfeed, which also allows you to chat with other users. Few brokers provide a network of experts as large as eToro's.

Read Benzinga's full eToro Review

AvaTrade

Commissions

Best For

Beginners
Advanced traders
Traders looking for a well-diversified portfolio

AvaTrade is a traditional broker that offers forex, CFDs and cryptocurrencies with platforms like MetaTrader 4. AvaTrade offers a robust copy trading network using the ZuluTrade platform. ZuluTrade allows you to choose either live human traders or automated bots to copy.

Also available is Duplitrade trading software for MetaTrader 4 so you can jump on trading patterns or strategies of the traders they follow.

Mobile trading means you'll never be far from your account and AvaTrade provides plenty of educational materials on how to trade different securities and use platforms like MetaTrader.

Plus, most forex pair have 400:1 leverage, which is much better than what's offered at eToro.

Read Benzinga's full AvaTrade Review

Hot Forex

HotForex is an acronym for Honest, Openness and Transparency. It might sound corny, but HotForex is a terrific broker with a dozen trading platforms and leverage up to 400:1 on copy trading. You can trade forex and bitcoin in the HFcopy account, which requires only $100 to open as a follower. (It's $500 to be a strategy provider.)

The HFcopy account can be accessed through MetaTrader 4, WebTrader, and HotForex's mobile trading app. You can copy up to 300 open orders at once and trade size minimums are 0.01 units. Strategy Providers can have up to 30 followers and performance fees for providers can each up to 50%.

Vantage FX

Vantage FX is a Australian-based ECN forex broker which offers deep liquidity and lightning-fast trade executions. ECN stands for electronic communications network and it's a series of interconnected banks and liquidity providers that match buyers and sellers of different currencies.

Unlike a market maker, an ECN broker doesn't act as a counterparty to your trades, it finds a suitable seller on its complex network. ECNs are more transparent, have lower spreads and execute trades far more quickly than market maker brokers.

Vantage FX uses ZuluTrade and MyFXBook Autotrade for its social trading functions. Using ZuluTrade, clients have access to 120 different forex pairs and CFDs with leverage up to 500:1. It costs $200 to fund a social trading bankroll, but you can access ZuluTrader right from your MetaTrader 4 platform and choose from over 10,000 traders to follow.

MyFXBook Autotrade is a program for mirroring different traders' portfolios based on strategies. Low-performing accounts are screened out of the platform so only traders with repeated success can be copied. As an added bonus, no extra download is required; you can trade right on your browser.

Pepperstone

Pepperstone is another Australian forex broker that has ventured into the social trading scene. Founded in Melbourne in 2010, Pepperstone has become one of the most diverse and sophisticated brokers on the forex market. Not only are MetaTrader 4 and 5 supported, but Pepperstone features the powerful cTrader program, one of the few true rivals to MetaTrader.

The social trading platform uses six different programs to enable copy trading: ZuluTrade, MetaTrader 4 Signals, Mirror Trader, MyFXBook, Duplitrade and RoboX. You can copy trade in real-time or automate your entire operation with these programs. You'll choose from either a spread-only (standard) or commission (Razor) account.

Get Started Copy Trading

If you're new to the currency trading game, it might be hard not to feel like you're at a disadvantage. If you can't beat 'em, why not join them? Copy trading allows you to do just that.

Just remember that copy trading isn't a shortcut to riches. You'll still need to pick the right broker and understand the concepts at play when trades are posted to your account, otherwise you'll likely get burned. If you want to get started copy trading, first open a demo account at one of the brokers listed above. You won't risk any money and you'll learn what types of trades you want to emulate.

IQ Option Download for Desktop - ZyCrypto

Posted: 25 Apr 2019 10:16 AM PDT

Online trading platforms continue to make it easy for both investors and traders to navigate the finance market. Many people from all over the world have an opportunity to carry out their business any time of day and night in a smooth and seamless way.

As such, recent times have witnessed great growth and expansion in different areas of financial trading. From the stock exchange, forex, to cryptocurrency trading, there are simply no signs that this trend will stop.

Instead, the high demand is the reason for the creation of such high performing and fasting growing entities like IQ Options.

What is IQ Options?

It is a unique, vibrant and interactive CFD-aligned 24/7 trading platform. It was created way back in 2013 and has grown both in popularity and quality to become one of the most sought after trading platforms of modern times.

As a licensed trading platform, it currently boasts of over 25 million customers; and the number keeps increasing each day. IQ Options basically deals in a wide range of products. These include crypto trading, stock trading, Forex, and ETF trading. It has also begun the absolutely new trading product known as Digital options.

How do IQ Options for Desktop work?

This trading platform is accessible on several apps; with the desktop computer being among the most popular. The reason, other than faster accessibility is the fact that desktop apps can run in an absolute independent version, away from the main trading site. As such, traders can quickly execute their trade, which is a key ingredient of any successful trading.

Getting started

It is an easy and quick process to get started with this software.

– Simply go to their website and create an account by signing up. Signing up requires your email address.

– In a matter of seconds, your IQ Options client begins to download with no need for prompt.

– You can then save the file onto your desktop computer.

– You need to click on the installation icon, to allow for the installation of the software to take place.

– Once the installation process is complete, you can quickly launch the app by double-clicking on the IQ Option icon.

– The try to logging into your account afresh and begin to trade in your favorite currency right away.

There are many products that you can trade in on this platform. Once you have logged into your account you may slowly explore and discover which of the products you can trade in; without putting any of your hard-earned money at risk. The best thing is that the platform comes with a 24 /7 customer support team. They are always ready to guide you and answer any questions that you could be having.

What are the System Requirements for this Platform?

Specifications for a desktop computer are as follows:

The operating system should come in the form of Windows 7 and upwards.
It works well with a 2 GB and above RAM. The most recommended amount of RAM is usually 4 GB.
It also works well with a hard disk space of about 130 MB

What Type Of Products Can Trade On IQ Options Desktop Download?

Q Options features the following products:

– Stock Trading: Members can easily use this platform to purchase and trade in shares from the world's most reputable companies.

– Forex Trading: You choose to trade in the world's strongest currencies such as the USD, Pound, Euro, among many others using this platform.

– ETF Trading: This feature is relatively new, but it allows you to trade in the same way as the stock works on the stock exchange. You can use ETFs to track assets, commodities, and indices. Investors can purchase on margin and sell short. As a trader, you can purchase as little as a single share, and still make headway in your venture.

– Cryptocurrency Trading: You also have the option of trading in the world's most popular cryptocurrencies such as the Bitcoin, Ethereum, Litecoin and a wide range of others. Actually, there are over 25 different kinds of cryptocurrencies and is up to you to explore and discover which one works for you.

– Digital options: This product allows you to trade and speculate on the world market's currencies, indices and even stocks. It's a perfect feature to use, especially if you are a newbie, and just starting out.

What are the advantages of using IQ Option Download for Desktop?

There are numerous benefits that come with using IQ option download for desktop. Some of them are as follows:

The app is easily accessible via desktop apps
Since the apps run quite independent from the main site on the desktop which allows for faster execution when it comes to any kind of trading.
Desktops apps remain safe and secure. But what is even more encouraging is that they come with a wide range of supportive tools and features.

For instance, you can access such tools as volatility alerts and market updates. You can also enrich yourself with the unique stock screeners. Traders can access calendars, and newsletters to keep them always informed on the goings on in the world of trade and financial markets.

The desktop app basically comes with great features as those found on web browsers, making the trading experience quite worthwhile.
Downloading and eventual installation process is quite simple; you can start trading away in a matter of minutes.
The app also comes with impeccable customer support. You can get 24 /7 access to the customer care team

Conclusion

The desktop apps are the best way to enjoy multiple features that come with the IQ Options trading platform. Apart from the fact that you can easily access the site, these apps come with distinct features that make your trading completely safe and secure.

All features and supportive tools that are on web browsers can also be accessed via desktop apps. The apps also come with a customizable interface, to meet all your needs.

The best thing about the desktop app is that the download and install process is quite easy. Even if you are a greenhorn, you quickly follow the prompts. In just a matter of minutes, you can explore the platform, and select the best trading product that comes with minimal risks.

What's Your Thought On This ?, Let Us Know In the Comment section Below.

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