Today there are many copy trader services. But which platform should you choose?The cTrader copy service is a much-improved platform that allows traders to copy the successful strategies of other traders and one of the key benefits is that anybody can become a strategy provider and make money by sharing their trade signals. The copy service includes some very good risk management tools for commitment-free investing.
Strategy Providers
The strategy provider can be anybody who wishes to share their trading system and its performance by providing signals for other traders to follow, strategy providers can set the amount of commission they wish to charge to copy their trades and this is how they are remunerated for their hard work.
Investors
These are traders who wish to follow the trades of the strategy providers and hope to also gain winning trades, in return, they pay the strategy provider a small fee for the signals. Investors have the option to review each strategy providers historical performance and choose which one they feel is better, there is no time limit or contract and the investor can stop copying at any time.
Is it a Scam?
This type of trade copying is not a scam and can help investors create wealth quickly, but it does have risks for new traders who do not know what information to research before they start copying, follow the tips below so you do not get burned and lose your money.
How to Choose a Strategy Provider
If you are an investor and wish to start using the cTrader copying service then you need to make sure that the provider you are going to follow ticks the following boxes.
They have been providing signals for more than 6-months (look at strategy creation date).
In the past 6-months, there has been an increase in profits.
Make sure you are happy with the performance fee the provider charges to copy trades.
Do not risk more than you are willing to lose.
Unlike other social-trading. When you do copy trade on Ctrader. You do not have to pay fees to Ctrader.Link My account: Pass: 7bvAIEhE5g
Still, everyone should have their own trading strategy.