RoboForex CopyFX – A Comprehensive Guide to the Copy Trading Platform

Are you looking to step into the Forex trading world but not confident enough about your skills? Well, do not worry! RoboForex offers a solution through its CopyFX platform, which allows you to automatically follow the strategies of proficient traders. This guide teaches everything you need to know about RoboForex and how to start copying trades on CopyFX.

About RoboForex

RoboForex has been a reliable brokerage company since 2010. Its efforts to provide unmatched services to its users have been recognized several times. The firm has won ten prestigious awards since its launch. In 2023, RoboForex received the “Best Mobile Trading App” award at the GF Awards ceremony.

The broker runs its business under the regulatory framework put in place by the Belize International Financial Services Commission.

Regarding financial markets, RoboForex allows users to trade various assets like indices, cryptocurrencies, Forex, commodities, and CFDs on stocks.

RoboForex’s CopyFX

The CopyFX platform was introduced in 2012. It has been helpful, especially to beginners struggling to develop solid trading strategies. Several experienced traders exist on the platform, allowing RoboForex users to copy their trades at a small fee.

So, what’s the minimum copy trading amount? RoboForex lets you begin replicating trades with a minimum investment of $10, which can be deposited using payment methods like Perfect Money, Skrill, ADVCash, bank cards, and bank transfers.

RoboForex offers three copy trading modes, including fixed, classic, and proportional. In terms of rewards, lead traders collect their fees using two methods:

Commission-based: Lead traders earn a certain percentage from every profitable trade.

Profit-based: Lead traders receive a specified percentage of the total realized profits.

How to Copy Trades on RoboForex CopyFX

Before RoboForex grants you access to its CopyFX platform, you must create a brokerage account. Here are the steps to follow to sign up with RoboForex:

1. Go to Roboforex.com and click the “Open an Account” button. Provide your full name, email, and phone number, then hit “Register.” After that, you will have access to a demo account. To copy trades, you need to have a real account. RoboForex offers various types of accounts to suit the needs of its users. They include Prime, Pro, ProCent, and ECN.

Each account has varying minimum deposit requirements, so only choose one that matches your budget.

2. After opening and funding a real account, click the “CopyFX” button on the homepage to access the RoboForex copy trading platform.

3. Select a lead trader. Choosing the right trader to copy is vital. You do not want to follow the strategies of a trader who records more losses than wins. So, ensure you evaluate the performance of every trader before copying their trades.

Luckily, RoboForex offers the Trader Rating tool, which gives copy traders deep insights into the performance of the traders they wish to copy. This tool allows you to view a particular trader’s monthly or weekly returns, maximum drawdown, win rate, and number of followers. To increase your chances of becoming a profitable copy trader, picking a strategy provider with a win rate of at least 60% is recommendable.

4. After finding a suitable trader, press “Copy” and update the trading settings, such as stop loss, take profit, and margin per trade. Next, click the “Copy” button to mimic the trader’s trades.

How to Become a Lead Trader on RoboForex CopyFX

If you become an experienced trader, you can consider applying for a lead trader position on RoboForex. To do this, press the “Become a Lead Trader” button in your account and follow the process. After the RoboForex team approves your application, you can set up a lead trader profile, which includes your nickname and profit share method.

Once you have created a profile, make it visible for RoboForex users to view and copy your trades.

Is Copying Trades on RoboForex CopyFX Safe?

Yes! RoboForex operates under strict regulations and adopts advanced security measures to keep user data and funds safe.