This service allows you to profit from trading in financial markets, using the experience and skills of professional traders, showing decent trading results.
Note that many brokers offer copying services today, and their differences are only in how convenient the system is for work, what is the minimum deposit for novice traders, is there a need to pay professionals a fee, etc. Below are the terms of cooperation offered by RoboForex.
In RoboForex CopyFX copysystem, two participants interact – Trader and Investor. Who and what is it? Let’s dwell on this issue in more detail.
What are the tasks of traders?
A trader is a person who has experience in trading in the foreign exchange market, is able to make deliberate decisions and is ready to take responsibility for working with funds attracted from investors. Any client of the company can become a trader in CopyFX by simply creating an appropriate offer.
The Offer is a kind of questionnaire containing detailed information about the Trader as a professional, details of his work, an indication of the strategy, trading parameters, the amount and type of remuneration received for the work, etc. As soon as the offer is filled in, it automatically gets into the Traders Rating and any investor interested in subscribing can start cooperation with him.
The more complete the information about the Trader in the offer, the more information the potential investor will see. Namely: the type of account on which the Trader works, the minimum investment amount with which the speculator allows him to start cooperation with him, the total amount on the account balance that the Trader operates on, trading assets, the type of strategy, the amount of commission for work, etc. For clarity, there are also several types of charts that allow you to track the success and current trading situation of the Trader.
A few words about rewards
Traders have the right to set one of three payment options for their work:
- Interest for the total investor’s profit.
- Fixed commission for every profitable trade.
- Lack of any commission.
A trader himself evaluates his professional capabilities and therefore only he makes a decision about what amount of remuneration and what type of commission to establish for him.
How to become an investor?
It should be noted right away that RoboForex does not set any minimum deposits for Investors and Traders. Nevertheless, at the start of cooperation, each participant must have at least $ 100 on his account.
As for the choice of a suitable Trader, thanks to the Rating presented both in the Personal Account and in the public domain on the broker’s website, as well as offers, the Investor will be able to make an informed decision. And then everything is simple: the investor should subscribe to the Trader he likes and all transactions made by the professional will be copied to the newbie’s account.
Features of work in COPYFX and the difference from ROBOFOREX
The main advantage of the interaction between Traders and Investors in the system under consideration is the fact that both participants receive benefits at once. The investor is freed from the need to independently analyze the market situation, make difficult trading decisions, etc. But the Trader gets the opportunity to improve his trading skills and get rewarded for providing services to copy his own trades.
As for the types of accounts on which the CopyFX system is available, the following options are available to clients: Pro-Cent, Pro-Standard, ECN, Prime, Pro-Affiliate, ECN-Pro Affiliate, Cent Affiliate. Regardless of the selected account type, trading is available only on the MetaTrader4 platform. By the way, thanks to the “cropping” service, the correct connection of accounts belonging to different groups is ensured. To determine whether the interaction of specific accounts using the CopyFX system is possible, the broker’s website presents a special croscopic scheme. The main difficulty can only be that due to different conditions of accounts, there may be differences in spreads and commissions. Accordingly, the level of risk increases.
In general, an Investor can have up to 100 accounts in the CopyFX system, which is an excellent diversification of funds, given that he does not have to make decisions himself – the Trader does it for a beginner.
And, by the way, thanks to the presence of a special calculator on the official website of the RoboForex broker, anyone can calculate the potential income that can be obtained from cooperation in the CopyFX system. By setting the deposit amount, the type of the Trader’s strategy and the investment period, you can get an approximate indicator of what profit is possible in the hands of a potential investor.