The new year means new beginnings. Global broker OctaFX decided to jumpstart 2022 by updating some crucial settings of its copy trading service.
OctaFX Copytrading is a top-rated service among the company’s clients. There are two great reasons for its popularity. First, you can easily access the service through the OctaFX Copytrading App or desktop. Second, you need little Forex expertise to start making a profit.
Wondering how it works? The clients, known as copiers, choose professional traders to copy orders from them. Whenever a Master Trader opens an order, the same order opens in a copier’s account automatically. This way, a copier can simply trust a Master Trader’s expertise and profit with minimum effort.
Recently OctaFX Copytrading has been working on making the subscription process to Master Traders more transparent for the copiers. They updated the parameters a copier can set when subscribing to a professional trader.
Firstly, a copier can choose to copy a Master Trader’s orders in equal (×1), double (×2), triple (×3), or any other volume. Upon selecting a copying mode, a copier will see the investment required to start copying this Master Trader in this mode.
Another new feature for the Copiers is the support funds. Copiers can choose to add support funds to protect their investments from unexpected market movements. This amount will only be used to support the trading strategy when the market fluctuates.
The required investment for each Master Trader is calculated automatically. An algorithm calculates this optimal amount from a pro’s trading history. This way, copiers can choose Master Traders based on how much they are ready to invest. It comes down to the most significant of the service’s recent improvements.
Traders utilise various trading strategies that involve different investment minimums for the Copiers. In the Master Rating, Copiers can filter Master Traders by the minimum amount required to invest with them. The system suggests Master Traders with strategies matching Copiers’ financial opportunities.
In 2021, the TradeForexSA magazine, a prominent South African guide to Forex trading, named OctaFX the Best Forex Copy Trading Platform. As it can be seen from the company’s performance, this and other awards only inspired its’ developers to work harder and deliver the best trading experience for their customers. We will probably hear of more improvements soon.
OctaFX is a global broker providing online trading services worldwide since 2011. It offers a state-of-the-art trading experience to over 7 million users globally. OctaFX has won more than 40 awards since its foundation, including the ‘Best Forex Broker Asia’ from the Global Banking and Finance Review and the ‘Best Trading Platform’ from Fx Daily Info in 2021. The company is well-known for its social and charity activities.