Copy trading in FTXM Invest is quite simple and safe. Investors can choose the best strategy managers with advanced search filters and start earning with just USD100.
In this modern era, the forex trading industry is developing rapidly with technology as its foundation. Making the foreign exchange the largest financial market in the world. Millions of people from different backgrounds, and ages have decided to join and participate in forex trading. Due to this, many brokers are competing to win the hearts of clients with a variety of innovative technologies to drive significant growth dynamics around the world. One of the most popular alternative technologies today is Copy Trading.
Forex Time or better known as FXTM broker is one of the leading companies worldwide that developed and launched a copy trading platform in February 2016. This can allow novice and veteran customers to earn profits without having enough knowledge for independent trading. Read on to find out more about FXTM copy trading and whether the app would be safe and suitable as your chosen platform.
Get to Know Copy Trading at FXTM
FXTM is a leading market maker/ECN broker with offices around the world and licenses from the United Kingdom and Cyprus. The company provides a satisfactory and convenient copy trading service called "FXTM Invest" where new users can observe and trade with successful traders and learn their strategies
What Is FXTM Invest?
FXTM Invest is a program with a flexible copy trading system for beginners and experienced traders who want to try something new. This system is powerful to support new users who do not yet have the expertise and skills in trading.
FXTM Invest allows investors to choose a strategy manager from a list of top-rated traders. Once the investor has made a minimum deposit of 100 USD/GBP/EUR, their account will be activated and they can freely choose to copy trades from their strategy managers.
With the FXTM Invest platform, investors can follow the right strategy in the hope of making a profit, while strategy managers can earn extra income by earning commissions from their investors. To date, there are more than 600 strategy managers to choose from. It can be said that FXTM Invest provides a win for investors and managers because each customer will receive benefits depending on each transaction made.
FXTM Invest can be used on the MetaTrader 4 platform with flexible leverage of up to 1:1000 on micro accounts and 1:2000 on market execution accounts. Those are considered very compared to other brokers. As for the available market, FXTM Invest supports more than 250 instruments from Forex, Stock, and CFD markets.
Fees and Spreads
Each manager has a commission called the "copy fee", usually 30% to 40% of the profit earned. Meanwhile, the average spreads start from 1.3 pips on the EUR/USD currency. However, these spreads are variable which means there's a possibility they widen or tighten based on the trading volume and market volatility.
Deposits and Withdrawals
Before enjoying the copy trading service at FXTM Invest, users must first make a deposit. The payments must be sent to a separately created account.
Deposits or withdrawals can be made using wire transfer, debit/credit card, Neteller, Skrill, FasaPay, WebMoney, Yandex Money, QIWI, Perfect Money, and Bitcoin. As an investor, you can fund your account after subscribing to the manager or by using the Account Overview menu.
Tips for Finding the Right Strategy Manager
As an investor, you can review the strategy manager's profile or choose from a list of current high-ranking earners. FXTM Invest will continue to update its list of strategy managers based on the ratings they have reviewed according to a particular classification. The investor's task is to choose the best account that matches their strategy, goals, and risk tolerance. There are several tips for choosing a strategy manager including:
- Choose by Rating
FXTM Invest will offer a list of strategy managers starting from the highest ranking. But if you want to see the list of managers without ratings, you can disable the Top Manager Strategy option. Statistical indicators that can be seen in the list of managers are the rate of return, daily copy trading, the level of risk, the number of account followers, and the total funds under management.
- Choose Based on Certain Filters
Investors can customize the filter by all-time returns, open days, risk levels, and funds managed. The criteria can be sorted from "high to low" or "low to high" as desired.
- Choose Based on Key Indicators
Doesn't want to go by rating but feeling confused with the filters? FXTM Invest provides 6 key indicators to choose a strategy manager, namely the minimum number of followers, the minimum percentage of returns, the maximum profit sharing percentage, the percentage of maximum withdrawals, the maximum risk level, and the minimum account lifetime (by month).
In addition, investors can also choose a specific strategy manager account by clicking "Search". After finding the account that might interest you, you have to properly review the account you are going to follow. By clicking the name, you would be directed to a specific page that displays key statistical data and a payback chart showing the profit rate of the account from different periods. This way, you would be able to review the trading advantages and disadvantages that strategy managers make.
It's worth mentioning that FXTM Invest is not only a copy trading service but also a social network. By following one of the strategy managers, you can find out the changes in the trading market informed by the strategy manager.
How to Start Copy Trading at FXTM
Opening an account is quite fast in the FXTM copy trading system. It will take about 10 minutes with the following steps:
- Head to FXTM's official page, and click the FXTM Invest tab menu.
- You will be directed to open an account with 2 options, namely becoming an investor or becoming a strategy manager. If you'd like to copy strategies from other traders, choose the first option.
- Choose a suitable strategy provider to copy. Click on the profile, and click on the "Invest" button.
- After that, the platform will ask you to confirm the action. Pay attention to the currency used and the fee of the strategy manager. All you have to do is click on the Open button.
- If you're assured of what you'll be getting, finalize the investing procedure and fund your investment account accordingly.
How Safe Is FXTM Copy Trading?
FXTM is headquartered in Cyprus and has been authorized in various jurisdictions including the Cyprus Securities and Exchange Commission (CySEC) with license number 185/12, the UK Financial Conduct Authority (FCA) with license number 600475, and the Financial Services Commission (FSC) in South Africa with license number 46614.
EU and UK clients also have additional protection, as the broker is a member of the deposit guarantee fund. Therefore, FXTM is considered a safe and reliable broker as a copy trading provider.
FXTM was initially launched in 2011 with a unique vision to provide unparalleled superior trading conditions. Opening an account in FXTM would also bring about access to advanced education and sophisticated trading tools in the forex industry.
Now, FXTM is registered under the Financial Conduct Authority of the UK with the number 600475. The company is also regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, and is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614
FXTM has 1 million registered accounts with more traders joining every day. The company continually tries to improve their performance and have got many awards such as Best Trading Experience 2019 by World Finance Awards, Best Online Forex Trading Company Nigeria 2018 by International Finance Awards, Reputable Investor Education Forex Broker Award 2018 by Hexun.com, Forex Brand Of The Year China 2018 by Fxeye.Com, and many more.
As a responsible broker, they determine leverage (expressed as a ratio of transaction size relative to trader's buying power) according to the trader's level of knowledge and experience in trading, which is evaluated by the Appropriateness Assessment. The company also enables trading with leverage up to 1:1000.
As for spreads, FXTM offers low spreads starting from 0.1 pip, so traders can withdraw profits at the start of trading. The company, which has headquarters in several countries, uses No Dealing Desk (NDD) technology and partners with credible liquidity providers to provide the best bid and ask prices.
For beginners, there is an automatic trading facility called algorithmic trading provided. When trading in FXTM, traders can develop their trading strategy or adopt other traders' strategies. Furthermore, the strategy is applied to automated trading systems, such as Expert Advisors. The purpose of this system is traders do not have to worry about losing opportunities while not observing the market so that profits can still be earned.
Three types of ECN accounts use the MT4 and MT5 trading platforms. There are also mobile and Tablet Apps trading platforms. Aside of providing many account variants, FXTM goes above and beyond to ensure that their client receives excellent support that they deserve, making their trading experience optimal and user-friendly.
FXTM also provides a diverse range of products. In addition to over 50 currency pairs, they provide gold, silver, CFD on commodity futures (oil), CFD on ETFs, and indices.
Education about the basic concepts of the forex industry is also accessible in this broker. Traders can read all the concepts provided in the form of e-books, video tutorials, articles, webinars, and forex seminars. There are 17 languages provided on the FXTM website to make it easier for traders to learn about forex.
Traders are also given various choices for payment methods, including Credit Cards (Visa, Mastercard, Maestro) and E-Wallet (Neteller, Skrill, Western Union). For withdrawing funds, traders are not charged a fee with a length of 2 hours to 2 days. Traders can live chat to ask further questions and contact the admin via email. There is also a question and answer page about forex trading on FXTM.
FXTM Copy Trading or commonly known as FXTM Invest provides a powerful copy trading system that is useful for beginner traders who do not yet have the expertise and skills in trading. This broker provides about 600 strategy managers to choose from. This amount is quite competitive with other brokers who provide the same copy trading services.
Furthermore, FXTM Invest allows investors to choose a strategy manager from a list of top-rated traders. They make it easy for traders to enter the world of trading with just $100.
Although it is possible to increase profits with this feature, investors are always advised to be careful about making decisions because there is no guarantee of 100% profits all the time. They also should consider the fee which is around 30% to 40% of the profit share. In order to stay profitable, investors should carefully choose strategy managers with good winning percentages and dependable risk-to-reward ratios.
FXTM broker is a leading trading service provider that strives to support forex traders with 3 focuses on Trust, Access, and Value. Over the years, they managed to gather more than 4 million clients worldwide and 45+ awards that prove their competitive edge in the brokerage industry.