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cTrader has been long recognized as a tough competitor of MetaTrader platforms. It turns out that cTrader has an exclusive copy trading service. So, let's explore this particular offering together.
A trading platform is a crucial factor that can affect your trading results. Aside from the famous MetaTrader, cTrader is a great platform that you could consider. Developed by Software Systems Ltd as a complete trading solution for traders and brokers, it provides the best multi-asset trading platform with a wide range of features, suitable for all kinds of traders. Through this software, you will be able to enter and execute orders at a super quick speed.
Besides the usuang trading service, does copy trading on cTrader exist? The answer is yes. This trading platform offers you a form of copy trading called cTrader copy trade. In fact, it is an existing option that you can access through the cTrader side menu.
Generally, cTrader copy trade is a fully integrated feature that allows you to copy trade strategies. In addition to that, you can provide your own trading strategies for other traders. It has a reliable solution with a clear fee system as well as transparent strategies that aim to give you the best copy trading experience. Not to mention, cTrader copy trader possesses an easy copy mechanism that is helpful for newcomers.
For example, if a trader wants to browse for the best copy strategy, they can simply log into their cTrader account and proceed to the copy trading section to find all the available strategies. Here, they can compare the history, details, and fees of each strategy and simply start copying in a few clicks. All traders can copy or invest in a strategy as long as their brokers offer cTrader copy trade.
Contents
How Does It Work?
Well, if you are a copy trader, one thing you should understand is that the mechanism of cTrader software allows you to allocate a certain amount of funds to copy a specific trading strategy. The allocated funds come from your trading account, so make sure you have enough funds in your main account in order to copy from strategy providers.
On the other hand, if you are a strategy provider, things might work a little differently. A strategy provider will execute trades from their trading account. Then, the followers (who are the copy traders) will automatically copy all the trades. Since cTrader copy trade uses the Equity-to-Equity model, the volume of a trade that will be copied is defined according to the strategy provider's and the trader's equities.
Benefits of cTrader Copy Trade
While there are a lot of copy trading platforms out there, the cTrader copy trade is able to compete as one of the best in the markets. The reason is that this software offers abundant benefits, not only for copy traders but also for strategy providers as well. So, what are the perks that you can enjoy from using this platform?
For Traders
- Easy Strategy Selections
Not all copy trading platforms are equipped with sufficient strategy monitoring. This might cause confusion if you are a new trader with little to no knowledge regarding strategy and trading portfolios. Not to mention, the user interface might be confusing and not very straight forward which can lead to some problems. Luckily, cTrader copy trade comes with a better strategy feature. You can immediately discover a large pool of professional strategies that give you a better view to choose which strategy works best for your needs. You can simply pick the strategy that you want and copy it with a few clicks of a button. - Full Control of Your Trade
The problem with most copy trading platforms is that you don't have full control over your trades. This can be dangerous because when the strategy provider records some losses, you might too as well. That is the reason why the cTrader copy trade allows you to get more control. In this platform, you can get separate copying accounts for every strategy you want to try. The best part is that you can start and stop copying anytime you want. That way if you feel like the strategy isn't working, you can stop to protect your funds. - Risk Management
If you are new to copy trading, you may be concerned with how to manage the risk to your standard. But, this is not the case with the cTrader copy trade platform. This software will automatically calculate and adjust your available setups in risk management. This means it will manage the risk for you in the best possible way. The risk management feature will make sure that you don't lose more than you can afford.
For Strategy Providers
- Additional Returns
Becoming a strategy provider is one way to get extra side income from trading since you can offer your trading strategies to copy traders in exchange for a fee. However, you need to make sure that you have a solid trading strategy to offer. Only do this if you are comfortable in your trades, considering that other traders would be putting their trust in your judgment. - Flexible Fee Structure
While the copy trading platform allows you to earn some money, it also charges you a fee as well. This is not surprising and all platform does this. But, cTrader copy trade comes with a flexible fee structure that makes things easier for you. The fees can be customized by a lot of different factors, such as volume fees, performance fees, and management fees. It gives you more control over how you want to be paid. - Promotion Tools
As a strategy provider, of course, you want to promote your service. That way it can reach more copy traders and increase the chance of earning higher income from the copiers. Unfortunately, in some copy trading platforms, it is pretty difficult to get people to notice your creation. The cTrader copy trade understands this and that's why this platform provides strategy promotion tools. This way, you can spread your wings further and reach more people.
Where to Find cTrader Copy Trade
The best way to get a cTrader copy trade is from reliable brokers that support cTrader. One of the best examples of this is IC Markets. This ASIC-regulated broker allows you to use copy trading with just a few simple processes. For starters, make sure you already have a live account in IC Markets and download the cTrader launcher on your device.
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
To apply, you need to verify your account and deposit some funds, then head to the copy sections to start copy trading. Of course, you will be given the option to choose whether you want to be an investor or a strategy provider. Overall, it is a very simple process that even a beginner can do.
The cTrader platform often being compared to MetaTrader 4, which is another popular platform in the trading sphere. What are the differences between the two and which one is better? Find out more in Is cTrader Better Than MT4? Here are 4 Things to Consider.
