Admiral Markets provides a user-friendly platform to copy trade with a wide ion of strategies to follow. How does it work?
Copy trading has become a popular strategy that allows traders to copy the trades of experienced traders automatically. Admiral Markets, a leading online trading platform, provides a copy trading feature that enables traders to replicate the strategies of top-performing traders. If you want to learn how to copy trade with Admiral Markets, this article is for you.
What are the Most Popular Instruments to Copy Trade on Admiral Markets?
Admiral Markets provides a wide range of instruments for copy trading, allowing you to choose the ones that best suit your investment goals and risk tolerance. Here are some of the most popular instruments for copy trading on Admiral Markets:
- Forex: Forex trading is the most favored instrument for copy trading on Admiral Markets. It involves buying and selling currency pairs, such as EUR/USD or GBP/JPY, in the hopes of profiting from fluctuations in exchange rates. Forex is a highly liquid market with low transaction costs, making it an attractive option for copy trading.
- Indices: Indices represent the performance of a group of stocks from a particular region or industry. As such, indices copy trading indices allow you to gain exposure to multiple stocks and diversify your portfolio. Popular indices to copy trade on Admiral Markets include S&P 500, Dow Jones, and FTSE 100.
- Commodities: Commodities are physical goods traded in financial markets, such as gold, silver, oil, and natural gas. Trading commodities can be a way to profit from changes in global supply and demand or geopolitical events that affect commodity prices.
- Stocks: Copy trading stocks allows you to invest in individual companies, such as Apple, Amazon, or Tesla. Copying trades of successful stock traders can potentially yield high returns, but it's essential to be aware of the risks involved, such as market volatility and company-specific risks.
- Cryptocurrencies: Cryptocurrencies, such as Bitcoin and Ethereum, have recently gained popularity as a new asset class for investment. Copy trading cryptocurrencies on Admiral Markets allows you to benefit from the potential gains of this volatile market without being exposed to the risk of owning the digital asset.
Steps to Copy Trading at Admiral Markets
Admiral Markets' platform offers a comprehensive and diverse range of copy traders you can follow and replicate through your live account. To access copy trading, log in to your Dashboard and locate the option on the left side menu. You have to make an account first if you don't have one.
By clicking "Go to Copy Trading" you are only a few steps away from joining Admiral Markets' community of traders and investors. In choosing the right trader to copy, consider their gains, profit charts, win ratios, average ROI, and other relevant details. As for safety, Admiral Markets has provided Stop Loss, Take Profit, and copy ratio limits in their setting.
Once you enter the first steps towards copy trading with Admirals, they will ask you questions to understand your risk tolerance and modify what copy traders you would be exposed to. See below for reference:
After you have responded to the three primary questions, you can promptly gain access to the Copy Trading Leaderboard. Here, you can examine the profiles of existing copy traders and determine which ones align with your trading and investing preferences. Refer to the following preview of their active copy traders:
To assess a trader's performance, click on their profile and review their information. Admiral Markets' platform offers a user-friendly, streamlined interface that displays all the essential details in a clear and organized manner.
It is worth noting that when utilizing Admirals' copy trading feature and subscribing to a specific strategy, you are presented with 3 options to choose from:
- Copy all new trades and open trades with a better entry price.
- Copy all new trades.
- Copy all new trades and open trades.
Furthermore, when copying an existing trader, you could still retain complete control of your positions. You can set Stop Loss and Take Profit, close any copied trades at any time, and cancel your subscription whenever you choose. Canceling a subscription will automatically result in the closure of all copied positions from the trader at the current market price.
What are The Benefits of Copy Trade on Admiral Markets?
Copy trading on Admiral Markets offers several benefits for traders, including:
- Access to Expertise: Copy trading lets you benefit from successful traders' expertise without developing your trading strategy. You can browse through the profiles of top-performing traders on Admiral Markets and choose to copy their trades based on their track record, investment style, and risk tolerance.
- Diversification: Copy trading allows you to diversify your portfolio by investing in multiple instruments and traders. This can help to spread your risk exposure and potentially reduce the impact of market volatility on your returns.
- Time-saving: Copy trading eliminates the need to analyze the market and build your trading strategy. Instead, you can find the traders you want to copy and let the system automatically replicate their trades in your account.
- Transparency: Admiral Markets allows you to view the historical performance of each trader you're considering copying. This helps you to make an informed decision based on their track record and investment strategy.
- Flexibility: Admiral Markets offers a range of instruments for copy trading, including forex, indices, commodities, stocks, and cryptocurrencies.
- Low Cost: Admiral Markets offers competitive pricing with no extra fees for copying trades. This means you can potentially earn profits without incurring additional costs.
Copy trading on Admiral Markets is a powerful tool that can potentially boost your trading profits while minimizing your effort. By leveraging the expertise of successful traders, you can diversify your portfolio and potentially reduce your risk exposure.
It's essential to carefully evaluate the traders you choose to copy and manage your risk exposure to avoid losses. With Admiral Markets' user-friendly interface and diverse range of instruments, copy trading has become more accessible and affordable.
Admiral Markets is a forex and CFD brokerage that has been operating since 2001 to provide smart financial answers for traders around the globe. Their main services revolve around 3 key activities: Learning, Trade, and investing. In doing so, they have many registered subsidiaries, including Admiral Markets UK Ltd, Admiral Markets Pty Ltd (Australia), Admiral Markets AS Jordan Ltd, Admiral Markets Cyprus Ltd, Admirals SA (Pty) Ltd (South Africa), and Aglobe Investments Ltd (Seychelles) for the worldwide market.