IronFX: What is copy trading? Explanation of the features of Iron FX and how to trade with your account.

IronFX

IronFX has copy trading and trading, and the article summarizes the trading methods and benefits for traders. Copy trading is one of the account types, but it is clearly different from other account types. Other account types are introduced in the article below, so if you are interested, please take a look.

What is copy trading?

Copy trading refers to copying the trades of experienced traders. You link a skilled trader’s trading account with your own trading account, conduct trades, and imitate everything from entry to settlement. The copy trading information provided has the following service features: Basically, the trading platform for products is MT4 with the minimum amount. Copying will be done live and you will also receive offers such as campaigns.

Recommended for beginners

Copy trading is recommended for beginners. It is generally said that it takes beginners three years to become successful. For beginners who find it difficult to win, if they can copy experienced traders, even those without knowledge can easily win. If you make a large profit or loss by participating in financial product trading, you will need to pay taxes and file a final tax return.

You can learn trading

By linking a novice trader’s account with an experienced trader’s account, a novice trader can see the entry timing and settlement timing of the expert trader in real time. This allows you to study the trade itself. Iron has a VPS environment, but automated trading (EA) is not recommended as it is full of disadvantages and difficult to learn.

You can trade while working

Speaking of traders, you cannot trade while working. However, by copying a skilled trader, the novice trader who is your follower can trade on your behalf while you work, so it is recommended even for busy people. There are also many campaigns and contests, and if you win, you can win prizes. However, be careful as economic indicators can have a big impact.

It doesn’t necessarily mean you can win

Even if you copy a skilled trader, you won’t be able to win 100%. Although you are copying a skilled trader, you may lose, and in some cases, you may lose the entire amount. This is not a system to guarantee victory. When you start trading, look at all the relationships such as method, number of positions held, lots, etc. and decide whether to copy or not.

How IronFX copy trading works

The copy trade mechanism in IronFX is as follows. The target account is basically 100% leverage rather than 1000x. As you can see when you access and place an order, there are two types: You can now copy currency pairs, futures CFDs, index prices, etc. 24 hours a day. Some residents (Syria, Sudan, the United States, North Korea, Cuba) have a group ban and cannot participate. The reward you receive is the amount minus the commission.

strategy provider

A strategy provider is a professional trader who can continue to make profits through his own trades. By collecting followers, you can earn commission from the profits. The maximum profit will be 40%. I use my own functions to fight in various ways, such as scalping and Ryoken. Some people only use US dollars, and some only use euros.

followers

A follower is a trader who follows (copies) a strategy provider’s trades. The follower will be a bilateral trade settlement format, and the follower’s account type must be the same as the strategy provider’s account type. Copy trading accounts include: A regular copy trading account has a leverage of 500x, but a professional account has a leverage of 250x and is an STP/ECN account, so the spread is narrower.

Max LeverageDetail
Copy Trade500
Copy Pro Trade250Raw Spread
STP/ECN

How to start copy trading

To start copy trading, you must first open an account. Please refer to the article below to open an account. It is ideal to follow a specific provider that has achieved excellent results over a long period of time. In addition to MetaTrader, there is also a web trader app, and the server is stable, so we recommend it.

Next, log in to your account.

Source : https://www.ironfx.com/

Choose whether to become a strategy provider or a follower and fill out the required information. If you are a follower, register by setting your account type, base currency, and leverage.

Source : https://www.ironfx.com/

For strategy providers, additionally set a nickname.

Source : https://www.ironfx.com/

Registration is now complete. If you are a follower, you can select a strategy provider by clicking on “Provider List” after registration. Once you have decided on the provider you want to follow, deposit the margin to IronFX. Once the deposit is complete, copy trading will start automatically.

Source : https://www.ironfx.com/

Source : https://www.ironfx.com/

When choosing a strategy provider, we recommend that you choose based on their trading track record. The key points are as follows.

risk return ratio

Risk-return ratio is the ratio of expected return to risk. The higher this number, the greater the return relative to the risk, and is an indicator of being a good trader.

return volatility

The higher the return volatility value, the higher the profit or loss.

sharpe ratio

It is an indicator that shows whether the return on a trader’s investment is high.

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