A beginners guide to FX Signals
How to grow your capital by copying the trades of successful traders
What is FX copytrading
As the name suggests, when you copytrade you copy the trades made by another trader in his trading account to your own trading account .
What is required? : You need to open a trade account and deposit the amount you wish to invest. You should open your account only with a regulated Broker like ICMarkets to ensure your funds are safe.
Safety of your funds : When you open an account with a regulated broker your funds is held in a segregated commercial bank account that adhere to international safety standards. When you copytrade via GROWEX you never 'give money to us' - your funds always remain in your name in the bank account at your broker. Only the account holder( you) can withdraw funds from the account.
Process: On our website you will select a signal you like. You need to complete a form on our site where you give us your trading account details so we can connect it to the the signal you have chosen. Once your account is connected you will start receiving the trades on your account.
Can I make money with copy trading
Yes you can. There two things needed for success:
1. A responsible and profitable trader who applies safe trading principals.
2. The right broker and trade copy set up ( technology) for accurate copying (so you get the same profits as the Trader gets in his account)
What do I need to start copy trading
You must open a MT4 trading account with a reputable broker first.
IC Markets is a very good Global broker with liquidity from BNP Paribas.
Once the account is opened you receive the account login details ( Account number, Password)
You will then need to fund it.
Once all this is done, you will be ready to connect the account to the account of a good trader.
to receive his trades.
How do I connect my account
You will need to provide the login details of the account that the broker emailed to you after you opened the account.
The login is used to connect your account on a server ( that runs 24/7) with the account of the Trader you are following.
Once this is done you will see the trades happening on your account automatically.
Your account is hosted on a 24/7 a server where copy software will copy the trades, so there is no need to keep account open or to keep your computer on.
You will receive a statement every day from the broker where you will be able to view the trading on your account
Why is use GROWEX Approved Partners
At GROWEX you only get high quality pre approved signals where we have already tested the signals for possible problems which include:
1. Finding the 'right trader'
We've done this research for you. Our Approved Traders are all responsible individuals who use safe money management including a stoploss to protect your capital.
2. Accurate an reliable copy technology
We promote a trusted and regulated broker called IC Markets. They are well known and regulated and they keep your money in a special segregated bank account.
The other important reason why we promote IC Markets is because of the accurate trade execution you get with them. This is very important because you want the same good results as the trader.
If you copy a trader who is with another broker the may be a difference in the price of the currency pairs that is being traded. This is called slippage. We test the slippage, so this part taken care of. Some scalping strategies ( that only takes a few pips profit per trade ) will require that you have an account with the same broker as the Trader