In trading, everyone wants to gain profits and avoid losses. However, it is not something that can always be done. Even for the professionals and experienced traders, they still can have losses in their trading although they have made various analyses in the trading markets. This is something that often makes new traders think twice before they start trading. There are great challenges for them and they may have lack of courage because they do not have good skills and knowledge in trading. In fact, they can have higher possibility in gaining profits although they are still new, and copy trading can become the solution.
Copy trading is feature offered by some brokers. In copy trading, new trader will copy the trades of other traders. Of course, it is the trade of professionals or experts because it will be useless when they copy the trades of less successful traders with low achievements in trading. Brokers that provide the copy trading normally have options of providers or traders who can be followed so later they can copy the trades from the trusted people. Of course, it does not guarantee that the new traders will always gain 100% profits from the copy trading. However, they can have lower risks because they copy the trades of professionals and even experts. In this case, copy trading is not free and the traders still need to deal with the commission but it will not be big problems because they will not only copy the trades but they can also get chances to learn from the proficiencies of other traders.
In copy trading, it is important to choose the right copy trade software. In this case, the choice cannot be separated from the broker because the software and platform of copy trading will be provided by the broker and the whole services come from the broker. As for the first recommendation of the copy trading software and platform, RoboForex CopyFX can become good choice. In term of reliability, RoboForex is trusted broker with good rating. For the copy trading, it provides many strategy providers and later new traders can choose the providers. Even, it provides low minimum deposit in which traders can start the trading with deposit of $10.
Next choice is the eToro CopyTrader. This is nice choice for traders who want to have many choices of instrument. In eToro, there are more than 2300 instruments that can be picked by traders. It also includes the forex and cryptocurrency. As for the minimum deposit, traders only need to prepare $50 to start the trading. it is higher than the one offered by RoboForex, but the gap is not too much and it is still quite affordable for the new traders. Moreover, eToro provides different types of accounts and each account has different benefits that can be offered. Next, the software is available in the mobile and web-based platform so traders can choose the most convenient access to use the software. These benefits make eToro is quite popular among the new traders who want to try copy trading.