User Guide for Copy Trade: Choosing the Right Copy Trading App - Deccan Herald

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User Guide for Copy Trade: Choosing the Right Copy Trading App - Deccan Herald

User Guide for Copy Trade: Choosing the Right Copy Trading App - Deccan Herald

Posted: 26 Oct 2020 05:03 AM PDT

Modern investment opportunities allow instant delegation of decisions. Copy trading is used by neophytes and veterans alike. It saves time and allows you to follow expert strategies. In India, online trading is booming. Here is how to understand who to copy.

Copy trading is wildly popular in markets like Forex. It is the biggest in the world: every day, it sees volumes reaching 6 trillion US dollars. Until the 1990s, it only welcomed the chosen few. In recent years, the global trading community has grown rapidly. Now, it includes over 15 million people, according to some estimates. 
 
Evolution of Copy Trading 
Modern investment is very different from old-school methods when there were pit traders and floor brokers. In the 1980s, you would need to search for a broker to make decisions on your behalf. They would buy and sell stocks and other instruments. Clients could either request a transaction themselves, rely on the broker's strategic advice, or delegate all decisions. This was a closed world, where brokers were gatekeepers. For the general public, investment experts were the elite. 

Few people could understand how money was made. Market entry was prohibitively expensive for many people. 

Then, retail Forex went digital, and this changed everything. Now, it is a popular way for amateurs to learn from pros. Experienced traders also use it when they are pushed for time. They let their peers do a market analysis for them. 

Best Providers and Apps
One of the most popular systems allowing copy trades is MetaTrader 4. It has been the industry favourite for years. Today, it is used by many brokerages. The terminal is packed with analytical aids, but it is also easy to navigate. 

Thanks to cross-platform synchronization, you can monitor trades from any device. Desktop software, mobile apps and web-based systems share information instantly, as they connect to the same cloud servers.

In India, this service is offered by global brokerage brands like ForexTime. As more and more residents are discovering Forex, the demand is high. Established brands publish ratings of their strategy managers, so you can choose an expert based on overall performance score and client feedback. The larger the company — the more experts you can reach. 

Does Copy Trading Work?
Yes, it does. Do not perceive it as a path to quick wealth, though. No strategy manager will make you a millionaire (unless you start with a spectacular investment). 

Be reasonable: copying trades may improve your performance, but it is not magic. Strategy managers are not infallible. Commission incentives them to make the right moves, but the market may still turn against them. 

Fortunately, you can decide which decisions to accept and which to discard. Respectable brokers give clients control over their copied trades. This way to copy trade is the safest.

Finding Who to Trade
Reputable providers keep an eye on their experts' performance at all times. It is regularly assessed based on some criteria. 

Clients may filter by trading style, years in the business, risk profile, etc. They can make informed decisions and choose a successful manager with a similar trading style. It is a clear and transparent system for delegation. 

Five Simple Steps
The process is uncomplicated: there are five simple steps. Connect to a seasoned trader and see how efficient strategies work. All their decisions will be replicated in your account as if you were taking identical steps:

1.    Choose a Strategy Manager using your broker's rankings.
2.    Find your account. 
3.    Automatically copy the expert's strategy.
4.    Collect profit when they succeed.
5.    Reward the expert.

The size of the commission depends on the broker. For example, you may need to pay only 5% of the total profit. Considering the convenience, this is great value for money. 

Choosing a Broker
Unfortunately, trading scams are quite common. Remember: an attractive website may be created in weeks. Positive reputation takes years to build. Cybercriminals may try to lure you in with promises of easy trading. An aspiring trader should be extra vigilant.

Make sure your company is officially registered and licensed to work in India. Foreign brands must be authorized by regulators like the FCA in the United Kingdom, the CySEC in Cyprus, or the FCSA in South Africa. This ensures compliance with industry norms like negative balance protection. This guarantees you will never lose more than you deposit. This is extremely important for leveraged instruments like CFDs. 
 

FXCM's Michael Kamerman becomes CEO of Skilling Group - FinanceFeeds

Posted: 26 Oct 2020 02:15 AM PDT

Michael Kamerman spent over 15 years at FXCM before being appointed CEO of Skilling Group

The Skilling Group has announced that industry veteran Michael Kamerman has been appointed CEO of the fast-growing fintech brand.

Michael joins Skilling with over 15 years' experience at leading competitor, FXCM, and with the remit of securing Skilling's place as a leading provider of FX and CFD services to a global client base.

The announcement is the latest in a series of significant milestones for Skilling. In the past ten months Skilling has launched the hugely popular Metatrader 4 platform, obtained a regulatory licence in Seychelles, received branch authorisation from the UK's FCA, and secured partnerships with Premier League football club Aston Villa, and global chess superstar Magnus Carlsen.

This is the second high profile appointment made in the last two weeks by the company, as IG Group senior SEO specialist Irene Castenada joined the company and is now responsible for their online strategy.

Mr. Kamerman commented, "The combination of talent and ambition is a powerful thing, which is why I joined Skilling. I look forward to contributing to the growth of the team and leading the Group into a new stage of strategic development."

Co-founder of Skilling and previous CEO André Lavold has said, "The appointment of a new CEO is something we did with the utmost care ensuring that the person not only has the experience but also is a great culture fit. We are very excited to have Michael on board. His extensive experience and vision for Skilling has continually impressed us."

Mr. Lavold will remain actively involved in the business while Mr. Kamerman transitions into the new role effective immediately.

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