RoboMarkets is only available in Europe under the new regulation of June 2018, the best is to use RoboForex since it is available both in Europe and America and neglects RoboForex and RoboForex are the same company and their characteristics are similar the only thing that changes is the entity that regulates them and this makes them work as two different Brokers.
RoboForex Broker offers a Copy Trading system called CopyFX, this Broker is very popular to do Forex Trading because it specializes in automation of investments and in view of that, this product to copy other investors counts as part of the automation process despite being independent of the Trading Robots that can be created on the platform.
Probably the name RoboForex does not sound very familiar to you, this is because since 2018 is the new brand name of what was the Broker RoboForex, with the change of name was presented an improved interface of this investment platform, although it still maintains an equal appearance to what it had previously in the same way the change of name represents an update of this company.
When working with the CopyFX system the Trader can simplify everything he has to do, since 100% of the operations carried out in the market will depend on the people he copies, in this sense the Copy Trading of RoboForex allows anyone to make profits in Forex even if they do not know the market, but it is convenient that at least the basic concepts are known.
The risk of capital loss is present at all times, even if you copy the investments made by others in the market this risk will always be there so operations must be monitored at all times even though third parties are doing the work, since a loss they have represents a loss for the one who copies them.
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How do I use a CopyFX account from RoboForex?
RoboForex has several types of accounts, each and every one of them are very good, for more information visit the entry RoboForex Broker of Forex and CFDs because there I talk about it and you can complement the information, now, returning to the main point when you want to use CopyFX you have two options, The first one is to open an account as an investor which allows you to enter the CopyFX process as a follower of successful trades and the second one is to open a Trader’s account and be the one who performs the trades allowing others to copy what is done. Remember that by the ESMA measures for residents of European countries the maximum leverage in any Broker is restricted from 1:2 to 1:30 depending on the asset used for trading.
When you create this account you should proceed to search for a successful Trader, it will be easy for you to find him since CopyFX from RoboForex is a social investment platform, in this sense you will find a list of the most successful traders and it is your decision whether you want to copy them or not. When you have your investor account you can copy any Trader that is available on the RoboForex platform, in this sense the transactions from the Trader’s account are copied to the investor’s account.
The minimum deposit for this account is not clearly specified by the platform, but according to the types of account offered by this Broker is to assume that it is quite low, on the other hand to all successful trades that are copied is deducted a small commission which goes to the account of the Trader who performs this way the person who copies you would be paying for copying their trades but do not worry because what is paid is a very low amount for each successful trade.
In the classification section of CopyFX Traders you will find all the people you can copy with just one click, remember that to choose a successful trader you must take into account certain factors which are: Trader’s profitability index, Trader’s activity, Trading style and the number of subscribers or followers it has; this way you can determine if copying that person’s operations can be potentially profitable for you and of course beyond that, at all times you must monitor what happens to your account.
If you are going to create a Trader account to trade and let people follow you it is necessary to specify the conditions of the subscription, deposit funds in the trading account and start making investments in the market, depending on the level of profitability you have monthly this will help you attract subscribers and the more subscribers you have the higher can be the profits you get. Remember that in order to earn commission earnings you need to have this activated because if your account appears as “Trader without commissions” you will not receive any benefit.
As far as the collection of commissions is concerned, they are paid on Saturdays at 1:00AM RoboForex server time, in case there are subscribers who stop following you if they obtained profits from your investments automatically, the system deducts the corresponding commissions to pay them to you. This type of accounts is profitable if you are a Trader with many followers because that way you collect what other people do and get a good remuneration, but if you have few subscribers you will earn little money.
CopyFX offers a calculator to estimate possible trading results for investors
People who have an investor account can have access to a calculator that RoboForex makes available to calculate results in possible financial environments that may arise, in the calculator you can select three types of risks which are: low, medium and high specifying the amount you invest and the period of time that will be active, once you do so you can get results that possibly in the future match with reality.
The results of this calculator are estimates, an investor can not have 100% confidence in the results because it is only giving data on possible macroeconomic scenarios that are presented in a given period of time with respect to the amount of money invested. Although this is a good tool to keep in mind that sometimes the results can be different from reality, remember that the market is volatile and in this sense even if you copy successful traders you must be on top of the trades to avoid any loss from one moment to the next.
Benefits of RoboForex CopyFX
The benefits of this automatic trading system are mutual for both the investor and the Trader, although from my point of view people who create an investor account earn more than those who create a Trader account, as it practically leaves their trades automated by putting them in the hands of a third person and while others execute the trades people who have an investor account can do other things during the day. On the other hand, even if the Trader gets a commission from successful trades, he may not earn much money because if we talk about commission earnings, they are high depending on the number of people who subscribe to him.
If you are going to open a Trader’s account you will obtain the liquid profits that you acquire from your operations in Forex in the first instance, as far as the commissions for subscribers are concerned the same will increase according to the time and number of people that are subscribing to your account according to the percentage of profits that you have monthly in the market. It can then be deduced that a person who creates a Trader’s account makes two types of profits, the first for the operations he carries out in the market bearing in mind the capital risk that exists when investing in Forex and the second for the commissions he makes, but these increase according to his activity and profits over time.
What platforms does RoboForex have available for CopyFX?
For traders who make investments in Forex this Broker offers all the platforms offered on his page, in this case it does not matter if you use CopyFX as you have full access to MT4, MT5 and Webtrader, however there may be certain exclusions of MT5 because it is only available for three types of accounts which are:
- Standard PRO account.
- ECN PRO account.
- Cent PRO Account.
This Broker makes available the most popular, important and useful platforms that are available in any other Broker so you can conclude that it is one of the best you can use to trade Forex and its Copy Trading system is also excellent.