IronFX has a plan called copy trading. Copy trading is one of the account types, but it is clearly different from other account types. Other account types are introduced in the article below, so if you are interested, please take a look.
What is copy trading?
Copy trading refers to copying the trades of experienced traders. You link a skilled trader’s trading account with your own trading account, conduct trades, and imitate everything from entry to settlement. Copy trading has the following characteristics:
Recommended for beginners
Copy trading is recommended for beginners. It is generally said that it takes beginners three years to become successful. For beginners who find it difficult to win, if they can copy experienced traders, even those without knowledge can easily win.
You can learn trading
By linking a novice trader’s account with an experienced trader’s account, a novice trader can see the entry timing and settlement timing of the expert trader in real time. This allows you to study the trade itself.
You can trade while working
Speaking of traders, you cannot trade while working. However, by copying a skilled trader, the novice trader who is your follower can trade on your behalf while you work, so it is recommended even for busy people.
It doesn’t necessarily mean you can win
Even if you copy a skilled trader, you won’t be able to win 100%. Although you are copying a skilled trader, you may lose, and in some cases, you may lose the entire amount. This is not a system to guarantee victory.
How IronFX copy trading works
The copy trade mechanism in IronFX is as follows.
strategy provider
A strategy provider is a professional trader who can continue to make profits through his own trades. By collecting followers, you can earn commission from the profits. The maximum profit will be 40%.
followers
A follower is a trader who follows (copies) a strategy provider’s trades. The follower will be a bilateral trade settlement format, and the follower’s account type must be the same as the strategy provider’s account type. Copy trading accounts include: A regular copy trading account has a leverage of 500x, but a professional account has a leverage of 250x and is an STP/ECN account, so the spread is narrower.
| Max Leverage | Detail | |
| Copy Trade | 500 | – |
| Copy Pro Trade | 250 | Raw Spread STP/ECN |
How to start copy trading
To start copy trading, you must first open an account. Please refer to the article below to open an account.
Next, log in to your account.
Source : https://www.ironfx.com/
Choose whether to become a strategy provider or a follower and fill out the required information. If you are a follower, register by setting your account type, base currency, and leverage.
Source : https://www.ironfx.com/
For strategy providers, additionally set a nickname.
Source : https://www.ironfx.com/
Registration is now complete. If you are a follower, you can select a strategy provider by clicking on “Provider List” after registration. Once you have decided on the provider you want to follow, deposit the margin to IronFX. Once the deposit is complete, copy trading will start automatically.
Source : https://www.ironfx.com/
Source : https://www.ironfx.com/
When choosing a strategy provider, we recommend that you choose based on their trading track record. The key points are as follows.
risk return ratio
Risk-return ratio is the ratio of expected return to risk. The higher this number, the greater the return relative to the risk, and is an indicator of being a good trader.
return volatility
The higher the return volatility value, the higher the profit or loss.
sharpe ratio
It is an indicator that shows whether the return on a trader’s investment is high.
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