The ForexCopy system by InstaForex provides investors with a wide range of unique financial services. Using a revolutionary approach to investments in high-yield projects and reconsidering the basic principles of payment settlements between a trader and an investor, InstaForex has developed the ForexCopy system, an unprecedented service in online brokerage.
The ForexCopy system allows online copying of orders opened by successful traders. The risk of loss can be reduced by copying trades of several traders and using a combination of their strategies based on technical and fundamental analyses.
ForexCopy followers do not transfer their funds to traders. The money remains on the follower trading account under his control. Therefore, the follower will not have to request a charge-back from the trader account.
Followers can select the trades to copy. This option proves to be efficient when the follower wants to reduce the risks of 1 to 1 copying ratio or when the follower does not have enough money to copy all trades.
The ForexCopy system allows followers to choose currency pairs to copy. This parameter is set by the follower at subscribing to trader’s orders. The follower can always change the list of instruments without canceling the subscription.
When adjusting the extended subscription parameters, the follower can set the trades volume range. The Lot Diapason option allows followers to copy only trades that fall into the set range (minimum and maximum volume) and apply the logic that will regulate copying when the maximum and minimum volumes are exceeded. The Fixed Lot parameter opens all trades copied from the trader account of a fixed volume.
Apart from currency instruments, Forex binary options are also avaliable for copying in the ForexCopy system. The options copying is based on the copying ratio with the option's nominal value in the range of $1-1,000.
Followers of the ForexCopy system pay traders only for profitable deals. Moreover, the profit should exceed the commission amount paid by the follower to the trader for copying orders. The follower will not pay for losing trades. Such method favours followers and protects their interests.
If the follower chooses daily commission, he pays it to traders every day excluding days when Forex market is closed for holidays (December 25th and January 1st) or weekends (Saturday and Sunday). A trader can choose this type of commission calculation based on the strategy used in trading.
The trades copying can be free for the followers if the ForexCopy trader sets the commission per traded lots, which is paid by InstaForex.
To start copying trades, the follower should register a live account on any InstaForex server and register with the ForexCopy system as a follower. After the registration, the follower can look through the monitoring list and copying terms, which traders set to provide their services. The follower also gets an opportunity to set subscription parameters for every trader by selecting currency pairs and scale of copying trades.
Subscription parameters are set for every trader individually and can be changed without canceling the subscription. In case a trader changes his payment options, this move will not affect followers, who has already subscribed to this trader. The system protects followers against any corrections made by the trader at his sole discretion and guarantees that copying terms accepted by the follower will be met.
The system is fully automated and does not require any additional actions from the follower. After the trader has approved the subscription, the follower may have to wait for about 15 minutes until the ForexCopy system is ready to copy trader’s orders. Every follower can monitor the statistics on trading and account balance in Client Cabinet.
All the options copied in the ForexCopy system are displayed on the pages of the Forex Options section in your Client Cabinet.
Depending on a payment option, the trader receives a commission by the end of the day or after the subscription has been cancelled. The trader may choose the daily commission and receive a commission every day, or a commission per trade and receive a commission for every profitable trade after his follower cancels the subscription. Any commission is credited automatically with no additional actions required. Both the trader and the follower can monitor the current amount of commission to be paid online.
Followers of the ForexCopy system can upgrade their profile and become traders with a right to copy orders of other traders. To enable this option, they choose the corresponding parameter in the Profile. Besides, an account of an upgraded follower will be included in the monitoring list of the ForexCopy system.
Attention:In order to be able to start copying trades from the trader's account within ForexCopy, the follower is required to have at least $10 on his ForexCopy account.
Choose smart investments with ForexCopy by InstaForex!
ForexCopy Monitoring will help you check the success of various forex traders registered with the ForexCopy system and choose those who seem the most prosperous to you. Monitoring contains yield statistics, balance and equity growth charts with adjustable timeframe enabling you to track the trading effectiveness of a chosen ForexCopy trader.
