IQCent Copy Trading: How to Copy Trades on the IQCent Broker

Copy trading, an automated strategy that enables investors to replicate trades on successful traders, has grown in popularity over the past decade. Many leading brokers, including IQCent, have started to facilitate copy trading.

This article explores the IQCent copy trading platform. We will teach you how to get started and how to select the right trader.

Diving Deeper Into Copy Trading

We can consider copy trading as a new innovative investment strategy. As a copy trader, you don’t need experience in conducting accurate market analysis. Instead, you only have to pick a seasoned trader and copy their trades. In other words, you are leveraging the experience of proficient traders to generate passive income from various financial markets.

Furthermore, copy trading is a crucial starting point for beginners who wish to participate in active online trading in the future. It allows you to study what successful traders do to close profitable trades. You can then use that information to develop your own trading strategy.

Once you have mastered the art of trading, you can allow other traders to copy your trades in exchange for a commission.

It is important to mention that while copy trading is profitable, it comes with numerous risks that you must understand before investing any funds.

How to Set Up an IQCent Account

Before IQCent allows you to copy the trades of its strategy providers, you must create a brokerage account. To do this, follow these simple steps:

1. Go to IQCent.com and click “Sign Up.”

2. Enter your full name, email, and password. Next, select the account currency. It could be USD, RUB, EUR, or GBP.

3. Confirm your email by clicking the verification link sent to your email address.

4. Access your new IQCent account and fund it. To deposit funds, you can use your debit/credit card or bank transfers.

How to Start Using IQCent Copy Trading

After funding your IQCent account, it is time to replicate the trades of your preferred strategy provider. To do so, go to the menu bar and press “Copy Trading.” IQCent will redirect you to its copy trading platform, where you’ll find the listed lead traders.

Once you find your ideal strategy provider, click “Follow.” Next, specify the amount you want to use to copy their trades.

How to Select the Right Lead Trader on IQCent

The first key step to having a successful copy trading journey is selecting the appropriate strategy provider. Here are some factors to consider when choosing a provider:

Number of copy traders: First, find the answer to this question: How many copy traders on IQCent trust a particular strategy provider? If you discover that a provider is followed by several IQCent users, then it will mean that he/she is trusted.

Risk level: IQCent measures the risk level of each strategy provider on a scale of 1 to 10. The higher the score the higher the risk. If you are a conservative investor, it wouldn’t be wise to select a trader with a high risk score.

Proven track record: Has the strategy provider posted consistent positive returns over time? If the answer is yes, then you can assume that the provider’s strategy is profitable. However, it is worth mentioning that past results do not dictate future returns.

Level of activity: If you discover that a trader opens trades frequently regardless of the market conditions, then it can mean that they trust their strategy. However, check if that trader is using a demo or a real account. If it’s the former, you should avoid copying them.

Maximum drawdown: By evaluating a trader’s maximum drawdown, you will have a clear picture of how much money you would lose if they close a losing trade. So, ensure your ideal trader’s drawdown is as low as possible.

Cost of Copy Trading on IQCent

Copy trading on IQCent requires a minimum deposit of $20. Depending on the selected trader, you will incur commissions ranging from 1% to 3%.