How to Copy Trades on Quotex – A Comprehensive Guide

In this guide, we’ll explore Quotex’s copy trading service, which allows users to emulate the trading strategies of seasoned traders. If you read to the end, you will understand how to sign with Quotes and how to select the signal provider. Our main objective is to help you understand if copy trading on Quotex can be a reliable income-generating source.

Copy Trading Explained

Copy trading is a new innovative service that allows one trader to copy the trades of another automatically. It is helpful, especially for beginner traders who don’t have the right skills yet to open profitable trades. Besides Quotex, several brokers now support copy trading, including Exness, InstaForex, and XM, among others.

How to Register With Quotex

Setting up a Quotex account is super easy. Just follow these steps:

Step 1: Go to qxbroker.com and then click “Account.”

Step 2: Hit the “Sign Up” button and provide the required details for registration. Note that you will be denied access if you are from the United States.

Step 3: After accessing your newly created Quotex account, you can make a deposit of $10 or more to start copying trades.

How to Find Your Ideal Trader to Copy

In copy trading, replicating the trades of successful traders is the only way to make profits. So, how do you find such traders? Here are the things to consider:

A Trusted Trader: To tell if a trader is trusted, check the number of users copying their trades. In case the trader has a huge following, this is a clear indication that they have a good track record. You need to pick someone you can trust with your investment.

Returns: When selecting a trader to copy, ensure they have been consistent in making profits for at least a year. This increases your chances of generating a positive return on investment.

Number of profitable Trades: If a trader has multiple profitable closed trades, it means that their strategy works. Avoid any trader with more losses than wins.

Risk Score: Traders with a low risk score generate small returns. They are recommended for conservative copy traders. On the other hand, strategy providers with high risk scores can produce massive returns but could also result in significant losses. So choose any of the two, depending on your risk appetite.

Open Trades: If a strategy provider opens multiple trades at a go, it implies that their strategy is highly risky. So, if you are a conservative copy trader, you should avoid such strategy providers.

Maximum Drawdown: It is important to analyze the maximum drawdown of a trader. You don’t want to select a trader with a very high maximum drawdown because it might take a while before you record a return on investment.

Level of Trading Activity: Select a regularly active trader because they are more likely to have experience in trading under any market conditions.

How to Start Copying Trades on Quotex

Once you have created a Quotex account and deposited at least $10, these are the steps to follow to start replicating the strategies of proficient traders:

Step 1: On qxbroker.com, go to the copy trading section, then click “Strategy Manager.”

Step 2: Use the abovementioned criteria to select the right professional trader.

Step 3: After picking your ideal trader, allocate funds and set the trading parameters, that is, stop loss and take profit levels.

Step 4: Click “Copy” to begin replicating the trades of the strategy provider.

Step 5: Monitor opened trades. Although copy trading on Quotex is automated, it is still vital to keep an eye on the opened trades and adjust trading parameters when necessary.

Step 6: Withdraw profits. Once you start generating profits, use the many supported withdrawal methods to transfer your profits to your bank account.

Do You Incur Charges for Copying Trades on Quotex?

Quotes does not charge you a fee to copy trades on its platform. However, signal providers take a cut, usually 10%, from every successful trade.