A Comprehensive Guide to VideForex Copy Trading: All You Need to Know

Videforex, a popular binary options broker, offers investors a lifetime opportunity to earn money by copying the trades of proficient traders. Do you want to join Videforex to start making passive income? Stick around! We will show you how to register a trading account with the broker and use its copy trading service.

Understanding Copy Trading

Simply put, the term copy trading refers to the concept of replicating the trading strategies of other traders in real time. As a copy trader, you need to allocate money to the lead trader whose trades get mirrored in your broker account. While copy trading does not guarantee returns, you can still make a decent income when you select the right trader. All said, make sure you understand the risks involved in copy trading before joining Videforex.

How to Set Up a Videforex Account

Creating a Videforex account is super easy. Here are the steps to follow:

1. Go to Videforex.com and then click the “Sign Up” button.

2. Videforex will require you to enter your email or phone number and provide a strong password.

3. Upon verifying your phone number or email, you will get access to your newly created Videforex account.

4. To deposit funds, you must complete the Know Your Customer procedure by submitting your identification document or driver’s license and valid working passport.

5. After the Videforex team approves your KYC documents, several payment methods will be made available to fund your account. Some of them include bank transfers, debit/credit cards, and PayPal.

6. Once you fund your account, click “Copy Trading” to view the available lead traders.

How to Start Copying Trades on Videforex

Here is how you can start copying trades on Videforex:

1. After pressing the “Copy Trading” button, a list of strategy providers will appear.

2. Scrunitize those providers by taking a look at their trading performance and risk management measures. We will discuss how to identify the right trader under the next sub-heading.

3. After finding the ideal trader, press “copy” to begin mocking their trades.

4. After making profits, go ahead and make withdrawals. You can use the same payment methods you used to fund your Videforex

How to Identify the Right Lead Trader on VideForex

Proven Track Record: It is vital to check a trader’s past performance before you entrust your hard-earned funds to them. Analyze their trading performance for the past 12 months or more to have a clear picture of their abilities and how they perform under various market conditions.

Consistent Profits: Stability is key in the copy trading space. So, instead of picking a trader who records massive profits occasionally, choose a trader who demonstrates stable, consistent returns. Such a trader often employs a tested strategy and tends to be more cautious, minimizing the possibilities of sudden, massive losses.

Level of Confidence: There is a huge difference between trading on a real account and a demo account. When a strategy provider trades using real money, they demonstrate their confidence in their trading system. That said, do not copy a trader who uses a demo account.

Popularity: Although following the masses is not always the ideal strategy, in copy trading, a huge following usually suggests that the trader’s strategy are trustworthy. However, it is advisable to consider other aspects before settling for a particular trader.

Risk Level: The level of risk appetite varies from one individual to another. So, before copying a trader, understand your risk appetite. If you describe yourself as a conservative investor, picking a trader with a low risk level is recommended.

Copy Trading Cost on Videforex

Both copied and copy traders are charged trading fees on Videforex. The fees range from 1% to 3%. Note that you do not incur charges when funding your broker account or withdrawing profits.

Is Copy Trading on Videforex Safe?

Videforex is registered and licensed in the Marshall Islands. This boosts the brokerage firm’s authenticity. However, read customer reviews before signing up with Videforex.