Admiral Markets Copy Trading – All You Need to Know

Trading platforms are trying to make online trading as simple as possible to attract new traders. Copy trading is among the innovations making it possible for novice traders to participate in the financial markets. It involves one trader replicating trades of another who is deemed experienced.

Admiral Markets is one of the many brokers offering copy trading services. Keep reading to learn how you can start following the trading strategies of seasoned traders on this platform.

Financial Instruments to copy Trade on Admiral Markets

There are several financial instruments on Admiral Markets that you can copy trade. This allows you to spread your risk across a number of markets. Here are the instruments that Admiral Markets lets users copy trade:

Forex – Currency pairs are the most copy traded instruments on Admiral Markets. That’s because forex is considered the most liquid financial market, and traders incur cheaper transaction costs than in other markets. Some of the currency pairs you can copy trade on Admiral Markets include GBP/JPY and EUR/USD.

Indices – These instruments represent the overall performance of a particular group of stocks, for example, shares of tech companies. There are several indices listed on Admiral Markets for copy trading. They include FTSE 100, Dow Jones, and S&P 500.

Commodities – These are real-world assets like natural gas, oil, silver, and gold, which are traded in a financial market. Copy trading commodities allows you to benefit from changes in demand and supply,

Stocks – With Admiral Markets’ copy trading feature, you can invest in big companies like Tesla, Apple, or Amazon. Following trades of experienced stock traders promises high returns. However, it is vital that you understand all the risks associated with the stock you wish to copy trade. You can do this by researching the company behind the stock.

Cryptocurrencies – Crypto assets like Ethereum and Bitcoin have become popular among investors and traders. Admiral Markets copy trading lets you profit from this highly volatile market without actually owning any cryptocurrency.

How to Copy Trades on Admiral Markets?

As a registered Admiral Markets user, you will get access to a wide range of experienced traders to copy their strategies. So, how do you start replicating the trades of successful traders? First, you need an Admiral Markets account. Go to admiralmarkets.com to set up one. As part of preventing money laundering, you will be required to submit government-issued documents for identity verification.

Once your account is ready for use, go to your dashboard and click the “Go to Copy Trading” button. You will be redirected to Admiral Markets copy trading platform, where you will see a long list of lead traders. To select the right one, consider aspects like their return on investment, win ratios, and risk levels.

After choosing a lead trader, Admiral Markets will request you to answer a few questions regarding your risk tolerance. You will also be required to set your take profit and stop loss. Before copying trades of any lead trader, you will be presented with three options: Copy open trades and new trades, copy only new trades, and copy trades with better entry prices. Once you select your preferred option, hit “Copy” to start following the lead trader’s strategy. Note that you can monitor the trades on your account and close them whenever you wish.

Benefits of Using Admiral Markets Copy Trading Feature

Access to Expertise – Admiral Markets lets you leverage the expertise of successful traders, thus improving your chances of winning.

Diversification – As mentioned earlier, Admiral Markets supports several financial instruments and lists many lead traders, allowing users to diversify their portfolios and spread risk.

Time-Saving – With copy trading, you do not need to analyze the financial markets since the lead traders do this for you.

Transparency – Anyone can access lead traders’ trading history to help them make the right choice.

Low Cost – Besides trading fees and commissions for lead traders, you do not incur any other charges when copy trading on Admiral Markets.