FXTM information and reviews
OctaFX information and reviews
XM information and reviews
FXCC information and reviews
HFM information and reviews
FxPro information and reviews

AdroFx: How does copy trading work?

19 October 2022

Copy trading is one way to minimize the risk in your investment strategy. If you are new to the world of forex or don't have time to dive into the nuances of trading, copy trading may be a perfect solution. But how can you choose one account out of dozens or even hundreds? That can be a real challenge! No worries, we have you covered! Here are five steps to pick the best account to copy.

Step 1: Choose a copy trader

Before you start copying the trades of professionals, you need to decide on a provider and choose the one you think is right for you and your goals. Let's find out what points you should pay attention to so you can get the most out of copy trading and not be disappointed with your choice.

Step 2: Analyze the work of a copy trader

When choosing a provider to follow, you need to consider the trading performance of the account under research. Profit is the main parameter that reflects the level of professionalism of the trader. You can view the profit for the day, week, month, or all time. It is much more reliable to analyze long periods because they show the real picture.

Average return

Some copied traders mention expected monthly returns based on backtesting and previous performance of the strategy. As a rule, copy trading brings up to 50%-60% depending on the situation in the market (as you know, the price may fluctuate differently), the trader`s strategy, and the chosen financial asset, of course. That is why you should pay attention to providers that trade multiple assets. In such a way, there will be more trading opportunities and fewer risks due to diversification.

Still, we must remind you that prior results cannot guarantee the same results in the future but can be one of the indicators to assess the trader`s professionalism.

Risk assessment

As you know, assessing potential risks is not an easy thing. Hence we hope you do not mind some simple tips to consider. First of all, pay attention to the stats chart. For example, if there are some big profits on the profile, it may indicate that this provider trades aggressively. Also, check which assets are traded by the underlying provider. Most professionals will agree that trading only one currency pair is not the best decision, and you might want to reduce risks by not putting all the eggs in one basket.

Step 3: Decide how much you want to invest

Determining the amount of investment is one of the essential decisions. The minimum threshold depends on the chosen provider since they all have different requirements. It is better to divide the funds between several traders - it will help reduce potential risks.

Step 4: Compare Copied Portfolios

By now, you should have at least several traders in mind, the ones that suit you more than the others. Of course, you can go through them thoroughly (check the trading history, pay attention to the traded assets) and pick one. Or you can test them all, reducing the ratio to 0,5 and keeping just one after some time. Or you can copy trades from several accounts at the same time. The decision is yours.

Step 5: Copy current trades

As soon as we are done with the choice of provider, you are good to start trading. Now you need to deposit your account, set the copy ratio and click the Follow button. From that very moment, all the copied trader`s activity will be duplicated on your account.

About AdroFx

Established in 2018, AdroFx is known for its high technology and its ability to deliver high-quality brokerage services in more than 200 countries around the world. AdroFx makes every effort to keep its customers satisfied and to meet all the trading needs of any trader. With the five types of trading accounts, we have all it takes to fit any trader's needs and styles. The company provides access to 115+ trading instruments, including currencies, metals, stocks, and cryptocurrencies, which make it possible to make the most out of trading on the financial markets. Considering all of the above, AdroFx is the perfect variant for anyone who doesn't settle for less than the best. 


Share: Tweet this or Share on Facebook


XM Receives Award at Finance Magnates Africa Summit
XM Receives Award at Finance Magnates Africa Summit

From May 8th to the 10th our team in South Africa was at the first ever Finance Magnates Summit (FMAS:23). XM was there as Diamond Sponsor, and during the summit, we were honoured with the Best Customer Service in Africa award...

30 May 2023

Five Reasons for Copy Trading: Unlocking Your Financial Potential
Five Reasons for Copy Trading: Unlocking Your Financial Potential

With the social trading sector expected to grow and reach a market size of $3.77 billion by 2028, copy trading, a form of social trading, is fast becoming a popular way for traders to achieve their financial and trading goals...

29 May 2023

TRXUSD now available on OctaFX trading platform
TRXUSD now available on OctaFX trading platform

TRXUSD is a popular high-cap cryptocurrency used on the TRON blockchain platform. With the addition of TRXUSD to our platform, our clients can diversify their investments and take advantage of the potential of this cryptocurrency on the market...

24 May 2023

An Introduction to Copy Trading Platforms and How to Choose One
An Introduction to Copy Trading Platforms and How to Choose One

Investing in financial markets can be both daunting and time consuming, especially for those with limited experience in trading. However, copy trading platforms offer a simple and convenient way...

24 May 2023

Planned optimization of MetaTrader 4 platform
Planned optimization of MetaTrader 4 platform

We would like to inform you that on Saturday, May 20, 2023, from 00:30 to 22:00 EEST, the MetaTrader 4 platform will be temporarily unavailable due to the planned...

22 May 2023

T4Trade: Introduction to CFD Trading
T4Trade: Introduction to CFD Trading

Learn what CFDs are, the advantages and risks of trading CFDs as well as some useful tips to help you find success when trading online...

19 May 2023

Editors' Picks

FXCM information and reviews
MultiBank Group information and reviews
MultiBank Group
RoboForex information and reviews
Libertex information and reviews
Vantage information and reviews
FP Markets information and reviews
FP Markets

© 2006-2023 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.