All You Need to Know About FP Markets Copy Trading

Copy trading, the practice of following the trades of successful traders, is recommended for people who don’t find time to analyze the market due to other commitments. Moreover, it has proven helpful for newbies who lack the necessary skills to execute winning trades.

Popular broker FP Markets offers a copy trading service, which is fully automated. It works through MetaTrader 4 and 5 platforms. Are you skilled enough to allow other traders to copy your traders, or would you like to replicate the trades of experienced traders? Keep reading this guide to learn how you can join FP Markets as a copied trader or copy trader.

Copy Trading on FP Markets

FP Markets Copy trading platform features two parties: the copier and the provider. The former is an FP Markets user who replicates the trades for the latter. While selecting a provider, a copier usually examines the past trading performance of the listed providers to ensure they pick one whose strategy aligns with their investment goals. As stated, copy trading on FP Markets is automated, meaning you don’t have to monitor opened trades throughout the day.

As a provider, you will receive a commission every time you close a successful trade.

How to Join FP Markets as a Copier

Although FP Markets copy trading service is offered on MetaTrader platforms, you still need to create a trading account with this broker to start replicating trades. Here is how you can start using FP Markets copy trading:

Create an FP Markets Account

To open a trading account with FP Markets, go to Fpmarkets.com and click “Open Live,” then follow the instructions provided to create an account. This brokerage firm offers two types of trading accounts: standard and raw accounts, which both cater to traders’ varying needs.

Once you have your account ready, click “Social Trading” on the homepage to access FP Markets’ copy trading service.

Choose a Provider

After accessing the copy trading service, you will discover a long list of providers. To select the right one, check their win rate and risk tolerance. Use the “Filter” functionality to narrow down your searches. Once you identify your ideal provider, press “Follow” on their profile to replicate their trades.

Set Trading Parameters

Like any other trading strategy, copy trading comes with its own risks, so it’s important to manage them well. To do so, use the MetaTrader login details provided by FP Markets to set your stop loss and take profit levels on the trading platform.

How to Join FP Markets as a Provider

Do you want to earn commissions by allowing others to copy your trades? If so, follow these steps:

Open an FP Markets Account

The procedure for opening a trading account as a provider is similar to that of a copier. After registering an account, go to “Social Trading” and click “I’m a Provider.”

Register as a Provider

Visit the Provider Registration Portal and complete the form for registration. Press “Send” after you are done. If you meet the requirements, your request will be approved almost instantly.

Now, you can start trading to attract copiers. Note that the more you are consistent in making profits, the higher your chances of being noticed by the copiers. Remember to set your commission rate, which should not exceed 50%.