FP Markets supports various trading strategies, including copy trading. Read this guide to learn all about it.
Forex market is the largest financial market in the world, filled with millions of active traders across various regions. One of the most popular alternative strategies in forex trading these days is called copy trading – a strategy that involves the act of following and copying a successful trader's strategy automatically to make profits. In other words, it doesn't require traders to spend hours analyzing the market and building a trading plan from scratch. It is undoubtedly an attractive option for many people, especially those with little experience or time to trade.
FP Markets is one of the brokers that offer copy trading service. While they are not the only one out there, they claim to have an excellent platform with a strong community that can lead clients to success. Let's find out how it works. But, you must open an FP Markets account first.
FP Markets is a reputable broker that has been around since 2005. The ASIC-regulated broker offers more than 10,000 instruments, along with tight spreads, ultra-fast order execution, and other favorable trading conditions.
FP Markets Copy Trading allows traders to find, follow, and copy experienced traders on MT4 and MT5 platforms. You can mirror their trading behavior and generate money from the trades. It's a completely automated trading system, so there's no need to check your computer every 5 minutes. Even so, you still have control over your trades as you are able to activate or deactivate them at any time, and use risk management tools such as stop loss and take profit.
Essentially, there are two types of traders on the platform: Copiers and Providers. The former refers to those who copy other traders' strategies, while the latter are experienced traders who provide the strategies to copy. In exchange for their service, Providers get a small fee for every successful trade.
What are the Advantages?
There are several benefits that you can get from FP Markets copy trading, namely:
- Powerful platform. The Metatrader series is known as a reliable platform for almost any strategy, including copy trading and Expert Advisors (EAs). The user interface is simple and beginner-friendly, so it's suitable for all traders.
- Dedicated servers. All trades are automatic and handled by the system, so there is no need to keep your computer on to be logged in.
- Competitive pricing. FP Markets offers institutional grade liquidity and tight spreads starting from 0.0 pips.
- Join the community. Get access to a vast community of FP Markets traders. Learn about their behavior and gain new insights directly from the experts.
- Highly efficient. Simply log in using your MT4 account credentials. No need to download any additional or separate software to start copy trading.
- Favorable trading conditions. The platform offers fast order execution and minimal slippage.
How to Start Copy Trading as a Copier
1. Go to FP Markets' official website and sign up for a new trading account if you haven't already. Then, log in to your account and make a deposit. After that, click "Social Trading".
2. Open the copy trading platform and choose a trader to follow. Click on the trader's profile or the strategy to see the statistics of their track record and past trading performance. Make sure to read carefully and consider the risk before investing your money.
3. Once you found a suitable match, click "Follow" to replicate their trading behavior. There is no limit on the amount of Providers you can copy.
4. Check the details of your order. Then agree to the terms and agreement and click "Register".
5. You can view all of your ongoing investments in My Portfolio. You can also manage them by adding risk management tools like stop loss and take profit orders.
How to Start Copy Trading as a Provider
1. Go to FP Markets' official website and create a new trading account if you haven't already. Then, log in to your account and make a deposit.
2. Go to the Provider Registration Portal and fill in the registration form using your MT4 or MT5 credentials.
3. To have an active Provider account, you must "Create an Offer". Simply choose the name of your offer, the type of the strategy, and decide your commission rate.
4. log in to the Social Trading portal to monitor your Provider account. On this page, you can see the status of your Offer, Copier details, and check the earned fees.
Final Thoughts
Copy trading can be a great solution for traders who don't have enough time or experience to trade manually. It offers an opportunity to gain exposure to the financial market without having to face the complexities of trading. However, it is important to understand that copy trading is not free of risk. If your Provider wins the trade, you get a profit, but if they lose, you also suffer the same loss.
That is why anyone interested in copy trading must learn about risk management and research the Provider that they want to follow. It's also a great idea to invest in several Providers and diversify the portfolio to lower the risk. Last but not least, consider your current financial situation and the Provider's commission rate.
FP Markets is a trusted global broker offering more than 10,000 CFD products across forex, shares, indices, commodities, and cryptocurrencies. This broker supports low commissions and tight raw spreads from 0.0 pips that are made possible by their partnership with leading banking and non-banking financial institutions.
22 Comments
Jan 19 2023
Which is better between manual trading and copy trading. Based on the article on this topic, we still need to manage risk in copy trading, which we as traders also need to know about Forex. I mean, why waste time copying trades if we need to learn Forex first. I'm not discrediting copy trading but, in my opinion, once I need to pay you, you have to provide all the trades that I don't need to set up. Is there any kind of trading that can be more automated than copy trading?
Jan 19 2023
Bobby : I disagree if you say about forex trading that it is not necessary to know about forex. It's like walking down the street with your eyes. Imagine that if you manage your risks properly, you can avoid copy traders' errors and you won't suffer losses and of course, you can maximize your profits. So, to make any kind of trade, it is essential to know about Forex.
Regarding automated trading, you can try the MAM and PAMM accounts offered by FP Brokers. The mechanism of operation is very simple, just invest some money and the fund manager will manage your money and you will get the result of loss or profit at the end of the contract. And one thing that you need to consider is either copy trader, MAM, or PAMM, all the trades are being done by human so sometimes they also can make an error or loss. SO, pick your partner carefully.
Read about MAM and PAMM here : FP Market MAM and PAMM
Jan 19 2023
Being a copy trading provider is a very exciting job. If I see the commission rate that I can set on my account, it seems that I can enjoy not only forex trading but also copy trading, no matter profit or loss, all those who Follow me will pay me commission. What are the requirements if I want to become a copy trader and what are the tips for me to get started as a follower?
Jan 19 2023
I don't know the exact details, but you can feel free to ask FP Market customer service. But in general, can include how long your account will be created, i.e. 1 year, 2 years etc, which may require more deposit, as well as your win rate.
As for the tip to get followers, it's very hard. I have a friend who became a copy seller. He started showing his profits on Instagram and because of this many people ask how to make a lot of money from forex trading. So, he started creating a vendor copy exchange trading at brokers and link sharing that actually connected his referral links. So as a result, it earns not only from copy trading's commissions but also from the referral link. And my friend told me to become like him, it is more important to know the trade and confidently share your results with the world.
Jan 19 2023
I think copy trading is similar to using EA in trading. Because I have seen how it works and it is like EA. The difference is that EA Trading uses computer programs and doesn't know how to follow the market because copy trading is human, they can follow the market and stay up to date with the market situation.
I think it is safer to use copy trading than EA Trading but be aware, to use copy trading that brokers offer and brokers must be regulated. I have also heard about many copy trading scams happening around me. So make sure that the brokers used copy trading functionality and do not use other platforms like Telegram and WA Group.
You can read about the scam in here : 4 common frauds at Forex Trading
Jan 30 2023
Is copy trading in FP Markets completely free of charge?
Feb 12 2023
Dennise: As far as I know, we pay a fee to the trader we are following/copying. I don't know the exact fee, but the fee charged between seller and seller is different. SO, make sure to see the trader's detail before using them. And the payment fee system is started after the trader we are copying completes the transaction. To be noted, even if you lose the trade, you will have to pay the fee.
And don't forget about spreads and commissions. This also happens in copy trading because the copy trade itself is trading with our own account, so spreads and commissions will also be charged.
Jan 30 2023
Are all clients eligible to become a Provider?
Feb 12 2023
Jayden: Yes, all customers are clients to be a provider and with no experience required. However, even if you can easily log in to become a provider, that will not guarantee that you will be able to earn fees quickly as it depends on the seller who wants to follow you or not. Also, if you are new to FP, your win-loss record and trading history will be displayed. And if your profile looks very low or your loss ratio is higher than your profit, it will not be easy for you to get such a trader. And also it shown your This means fewer traders following you, less profit from the provider's copy trading. but, if you have a good trading record (shown in your profile) you can easily earn your first fee.
Feb 5 2023
Have you checked out the article about joining the community at FP Markets? They highlight some awesome benefits that come with joining their trading community, like gaining access to a vast network of FP Markets traders, learning about their behavior, and gaining new insights directly from the experts. I'm really intrigued by this concept and eager to understand how being part of such a community can take your trading game to the next level. According to the article, interacting with fellow traders can provide valuable knowledge and insights, but I'm curious about the specifics. What kind of behavior patterns can you observe and learn from in the community? How can these insights help refine your own trading strategies and decision-making? The article mentions direct access to experts, so I'm also interested in learning how their expertise can guide and empower you as a trader. It sounds like an incredible opportunity to learn and grow, so I'd love to hear more about the firsthand experiences and benefits that traders have gained from being part of the FP Markets community.
Feb 5 2023
I'm still a bit confused. So, which one does the FP Markets offers, copy trading or social trading? What is the difference between the two?
Feb 12 2023
Carlos: Social Trading is a trading platform that allows traders to observe the trading behavior of their peers and expert traders. So social trading is mainly a place where professional traders share how they do Forex and at the same time,
Copy trading is a feature included in social trading. For example, trading FP Market Cop trading, the platform is called social trading and the function is available in social trading, one of which is copy trading.
So don't get confused about it though sometimes others consider copy trading and so and social trading is same as wekk but actually it is not! And about the offer that FP Market's, it offer both social trading and copy trading.
Feb 15 2023
@Carlos:
FP Markets actually offers both copy trading and social trading options. Now, let's break it down in simple terms:
Copy Trading: Imagine having a cool feature where you can automatically copy the trades of successful traders. That's copy trading for you! You can browse through a list of these trading pros, see their track record, and decide whose moves you want to mimic. So basically, whenever they make a trade, it's copied into your own trading account. It's like having your own personal trading assistant!
Social Trading: This one's all about the social aspect. It's like joining a trading community where you can connect with other traders, share ideas, and get insights. You can follow their activities, discuss market trends, and even show off your own trading skills. It's a great way to learn from others, get feedback, and expand your trading knowledge.
Feb 12 2023
Based on the image above, it looks like we can copy trades in Metatrader 4. This is because the image shows a live FP Market server using MT4. I mean it's great to use Metatrader 4 because it is a very good trading platform to start Forex. But in order to use Metatader 4, it seems that you have to use the PC version? Because I don't see any button that can participate in copy trading in the Mobile version of metatrader
Meanwhile, will he be able to do copy trades on the mobile app? I mean FP Mobile app (if FP Market offers mobile trading app)
Feb 12 2023
Ellanga:
Looks like you misunderstood the MT4 server that picture shows. As you know, the image details relate to the source of your trader's trade. There are two available platform of the FP Market, the Metatrader 4 and 5. So, the pictures above can show MT5 sever as well.
Meanwhile, the example image shows that the MT4 server is our provider's trading server for executing trades and showing the details of the trader's trading results.
To execute a copy trade you can simply use the FP Market website and I don't see that you can do that from any other platform. So basically you have to go to FP's website and execute one click copy trade and wait for the results in a few days or days. As simple as that.
Feb 18 2023
How much can I invest in a single Provider?
Feb 27 2023
Juanita:
There's no limit in how much money you can invest to a single provider on FP Market Copy Trading.
Copy trading is a type of investment strategy that involves copying the trades of another investor, usually a more experienced trader. The amount you can invest in copy trading depends on your personal financial situation, risk tolerance, and investment goals.
Before investing in any financial market, it is important to do your own research, understand the risks involved, and consult with a financial advisor if necessary.
In short, don't make any rash decisions, gauge your risk tolerance (don't put all your eggs in a basket), and consult before committing to a provider.
Feb 22 2023
What makes copy trading so popular? Is it more profitable than manual trading?
Feb 27 2023
Miriam:
In my opinion, Copy Trading is largely marketed toward beginners. Copy trading is wildly popular among beginner traders for several reasons:
Overall, copy trading can be a good way for beginners to potentially achieve better returns on their investments
Jun 11 2023
@Miriam: Copy trading has become super popular lately, and it's not hard to see why. It's like having a shortcut to trading success without all the headaches. You don't need to be a trading pro or spend hours analyzing charts. Just find a rockstar trader, click a button, and boom, you're copying their moves in real-time. (read : A to Z about Copy Trading by FP Markets )
The best part is, it's great for beginners. If you're just starting out and feeling a bit clueless, copy trading can be a lifesaver. You can piggyback on the knowledge and skills of experienced traders and hopefully ride their coattails to profit town. It's like having a trading mentor in your pocket, guiding you along the way.
Now, when it comes to profitability, it's a bit of a mixed bag. Copy trading can be profitable if you choose the right traders to copy. But remember, there are no guarantees in trading. Just because someone has a good track record doesn't mean they'll always win. Markets can be unpredictable, and past performance doesn't guarantee future success. So, while copy trading can be a great way to get started and potentially make some gains, it's always wise to do your own research and have realistic expectations.
On the flip side, manual trading gives you more control and flexibility. You're the captain of your own trading ship, making all the decisions. If you've got mad skills and can read the markets like a boss, manual trading can be hella profitable. You can adapt to changing market conditions and spot unique opportunities that others might miss.
Jun 17 2023
When it comes to becoming an investor, utilizing copy trading or participating in a PAMM (Percentage Allocation Management Module) program can both be viable options. However, I'm curious to know which option you believe is better in terms of achieving investment goals and maximizing potential returns.
Considering the varying benefits of each approach, which do you believe offers a more favorable opportunity for investors? Are there any particular factors such as risk management, transparency, or potential profitability that make one option stand out over the other? I'm eager to hear your insights on which avenue you perceive as more suitable for individuals looking to enter the investment sphere with limited time or experience.
Jun 18 2023
@Vinna:In my opinion, PAMM can be a favorable option for investors for a few reasons. First, with a PAMM program, you entrust your funds to experienced money managers who have a track record of success in trading. These managers have the knowledge and expertise to make informed investment decisions on your behalf.
Second, PAMM programs offer the potential for diversification. Your funds are typically pooled with other investors, allowing the money manager to allocate investments across a variety of assets and markets.
Third, PAMM programs often come with built-in risk management strategies. Experienced money managers implement risk control measures to protect your investment, such as setting stop-loss orders or employing hedging techniques.
Lastly, PAMM programs provide transparency and accountability. You can monitor the performance of your investment and track how the money manager is executing trades. This level of transparency allows you to have a clear understanding of the progress and outcomes.
(also read : PAMM Vs Copy Trading: What are the Differences?)