Copy trading is the ability of participants in such platforms to copy live trades placed by other, usually much more experienced traders. The idea is to find a successful trader and start copying them.
When we talk about copy trading, there are usually three parties involved:
Provider: This is the trader whose trades are copied. At times they are also referred to as a "Master Trader" or "Signal Provider.".
Copier: The one copying the provider's trades, using
his account.
Broker: The broker gives access to copy trading software, such as an application or MetaTrader 4, which allows the provider and the copier to be connected.
Also read Is Copy Trading Legal in India
There are various benefits of copy trading; here we cover just a few:
To start duplicating other people's trades, it also would be
helpful to first get your own live MT4 trading account. This one is the one you
will use in following other traders. It is worth noting that if you have
achieved getting a live account, then you will always also have the possibility
of creating certain sub-accounts that will give you extra flexibility. One
account can be given to manual trading and a second one for doing other
people's trades.
The next step is to connect your live MT4 accounts to the copy trading system that you choose. Once you have done this, you will have a list of providers whose trades you can copy. Now it's just a matter of clicking on a trader and viewing their stats—this normally includes things like past performance, drawdown, and the types of things that they tend to trade.
With the increased popularity of cryptocurrencies and other financial instruments, a constantly growing number of people feel a desire to start trading. At the same time, experience is another matter as a great barrier—it is here that copy trading comes into the game. Many newbie LiteFinance users use this feature in order to become familiar with various markets and assets and learn trading strategies from professionals who demonstrate in practice what steps to take next.
This social trading approach is open and user-friendly, not
to mention its effectiveness. Also, it lets users cooperate and help each
other. Well-known traders can make their living, while beginners make their
first steps with fewer mistakes and painful losses. The former are happy to
have multiplied profits, whereas the latter borrow efficient trading strategies
from them. It's a mutually beneficial partnership.
While choosing any copy trading platform, one must consider
such factors as the reputation of the platform, charges, and the number of
available traders that can be followed. Many such copy trading platforms are
there in India providing copy trading software; however, one of the best is
Combiz Services Pvt. Ltd. Combiz Service is regarded as one of the most
respectable and trustworthy copy trading platforms, offering the same at very
affordable costs without any hidden charges. Combiz Serives Copy Trading software
allows traders to connect with strategies and add on many advanced features.
Combiz Services Pvt Ltd offers you the perfect platform to
take your first steps in the world of copy trading. We have easy-to-use tools
and access to experienced traders who will ensure you have the best chance of
success.
To start copy trading is ridiculously easy. You can begin in less than 5 minutes.
Copy trading is the best alternative for new traders who wish to enter the market without having to become experts. It allows you to make use of the expertise of experienced traders as you learn and keep expanding your portfolio. With Combiz Services Pvt Ltd, you will find the best tools on your side, ensuring a smooth and profitable copy trading experience.
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Is Copy trading legal in India?