In 2016, FXTM completed the development and officially released the FXTM Invest copy trading service. It enables the broker’s customers to earn profit in the
financial markets without having sufficient knowledge for independent trading. In the 5 years of its operation, FXTM copy traders has been actively developing, growing into a rather simple and user-friendly platform that even a beginner can easily understand. We offer you a detailed review of the copy trading service of Forextime, an advice on how to find a trader to copy and whether it is safe.
What does copy trading mean
Copy Trading is an area of trading, which has been actively developing since 2010. The platforms can have certain technical differences, but essentially their purpose is the same. Traders can connect to other, more experienced or more successful traders (strategy providers), and then the trades of the strategy providers will be automatically copied to the trading platform of the connected client.
This type of trading in the financial markets has two key advantages:
-
The users
who do not possess sufficient knowledge and experience in trading can earn a profit. Furthermore, watching the trades of more successful traders, they also receive a lot of information for learning.
-
Experienced investors
can use this instrument to diversify their investments. It is a very convenient method, as you can select traders with strategies that have different profitability and risk scores.
Thanks to this, copy trading services have become greatly popular and continue to actively develop as a method of trading.
What is FXTM Invest copy trading network in 2024
Let’s review the key features of the FXTM copy trading system
 Copy trading platform |
FXTM Invest |
 Regulation |
FCA, CySec, FSCA |
 Trading platform |
MT4 |
 Minimum investment |
100 USD |
 Traders’ commission |
Average commission is 30% |
 Deposit and withdrawal |
Wire transfer, debit/credit cards, Neteller, Skrill, FasaPay, WebMoney, Yandex.Money, QIWI, Perfect Money, Bitcoin |
 Markets |
Forex, stocks, CFD |
 Number of instruments |
250+ |
 Average spread on EURUSD |
1.3 pips |
 Size of the network |
You can copy trades of around 600 traders |
FXTM copy trading system review
Let’s start our discovery of the FXTM copy trading system. Opening an investment account will take about 10 minutes. The interface of the FXTM copy trading service is quite simple.
Here is how it looks:
Trader statistics
By clicking on the trader’s profile, you will be able to review his/her data. The broker does not provide the first and last name of the strategy manager. You will only see the name of the account and the user’s personal ‘nickname’ in the system. User profiles feature key statistical data on the selected trader. Here, you can view the Return Chart, a criterion that shows profitability dynamics over time.
The broker’s website also features statistical data on the traders. In particular, the Return indicator is provided in detail for different periods of time, from one day to statistics for the entire time. Also in the statistics, the users will find the following data that can be useful for the assessment of risks:
-
1
Maximum drawdown;
-
2
Total trading days;
-
3
Profitable days;
-
4
Unprofitable days;
-
5
Average daily win;
-
6
Average daily loss.
In addition, you will also see the account settings here. In particular, there is leverage, profit share, and minimum deposit.
Charts
Before deciding on the trader you want to copy, you need to review the Charts section. It features information about the peculiarities of the trading. In particular, here you will find an infographic on the dynamics of trades of the strategy manager for the entire time of his trading on the platform. The statistics are broken down by months. There is also a breakdown by the time, when the trader opens trades and also activity by the days of the week.
There are also very useful diagrams, which allow you to understand the interests and style of the trader. In particular, you can learn about the assets or trading instruments the manager works with. In addition, you can see how many pips a trader earns or loses on average per trade, see the number of traders where he/she uses Take Profit and Stop Loss, buy and sell trades ratio, etc.
Pros and cons of copying trades on FXTM
👍 Pros
• Low minimum deposit
• Potentially high profitability of investment
• The broker is regulated by the world’s top regulators
• Simple interface
• Many deposit and withdrawal methods
👎 Cons
• The platform is not big and has only 600 managers
• High management fee (trader’s commission)
• Profitability in the past does not guarantee the same outcome in the future
• In order to subscribe to a new manager, you need to open a new investment account
• Inflexible filter settings for choosing traders
How to find the right trader to copy
The platform will offer you to select a FXTM copy trading manager. You will see a list of managers offering their services. First, the broker will offer you a list of strategy providers from the Top ranking on FXTM. However, if you switch OFF the Top Strategy Managers only option, you will be able to select any manager offering his/her strategy on the FXTM copy trading service.
In the list, you will also be able to see a short statistics of the managers. The indicators include:
-
Return Rate;
-
Days trading on FXTM copy trading;
-
Risk level of the trading strategy;
-
Number of traders following the manager;
-
The total amount of managed funds.
If you need to find a manager with a specific username, you can use Search.
Sorting and filters
If you do not know which trader to subscribe to, you can find a manager who meets your requirements the best. Sorting on the FXTM copy trading service includes four criteria:
-
All-time Return;
-
Days Open;
-
Risk Level;
-
Managed Funds.
When sorting, you can choose from ‘high to low’ or from ‘low to high’.
You can also select a suitable trader using filters. The filters can be set using 6 key indicators, including:
-
Minimum number of followers;
-
Min Return;
-
Maximum profit share;
-
Maximum drawdown;
-
Risk level;
-
Account lifetime.
The broker offers fixed values of the indicators. You will not be able to use your own. You can choose any number of indicators in the filters, up to all 6 of them.
News
FXTM Invest is not only a copy trading service, but also a social network. In the News section, the managers can notify their followers about different changes or publish trading information. Not all managers use this option, but when choosing a strategy provider, it is recommended if they have any posts in this blog.
How to get started to copy traders on FXTM
-
For this, you need to register on FXTM
1
-
Select Open Account
2
-
Choose Demo Trading from the list of offered trading accounts.
3
Registration and opening of a demo account will take up to 10 minutes. You will be able to choose the amount of virtual funds for copying traders.
Choosing an account
After you open the demo account, you need to click on the FXTM Invest tab. Here, you will be offered to open an account. There are two options:
-
1
FXTM Investment account for the traders who want to copy trades;
-
2
FXTM Strategy Manager for the strategy providers.
If you are planning to copy trades, select Open Invest Account.
Copying trades on FXTM. An example
Next, you will be offered to select traders to copy. After you’ve chosen a suitable strategy provider, you need to click on his/her profile. On the right side of the screen you will see the Invest button.
After you click on the Invest button, the platform will ask you to confirm your choice. The pop-up window will show a short description of the strategy provider, including his/her nickname, account currency and profit share charged by the trader. All you have to do is to click on the Open button.
How to deposit and withdraw funds?
In order to be able to copy trades, you will have to fund your account first. There is an important nuance here. A separate account is created for each connected manager, which has to be replenished separately. Therefore, if you want to connect to another strategy provider, you will have to create a separate investment account and fund it separately inside your personal account.
You can fund your account either immediately after you subscribe to a manager or later, using the Account Overview menu. You just need to click on the Deposit button. You can deposit funds using a wire transfer, debit/credit cards, e-wallets or via a transfer between the accounts.
How to view an investment account?
After you’ve subscribed to a manager, you can monitor his/her statistics. There are two ways to do that.
-
1
The first one is via the Account Overview by clicking on the manager’s username.
-
2
The second option is to go to the FXTM Invest tab.
My Invest Accounts will open, showing all managers you are subscribed to.
Choose the manager you want to see and click on his/her username. The platform will take you to the statistics page, where you can view all statistical data on trading.
FXTM offers its clients a tutorial to help them understand how to connect to the FXTM Invest copy trading system.
Can I make money by copying traders on FXTM?
FXTM Invest can indeed make the entry to the market easier for novice traders. Profitability can vary depending on the strategy of a particular manager, although it is possible to earn a profit and increase your deposit using this instrument.
However, one must keep in mind that copy trading is not a guarantee of profit. There are risks even in the most conservative strategies. This is why if you are planning to copy a trader, you need to remember that there is still a possibility of loss, although the risks are lower for the more conservative strategies. See also our ranking of the best social trading platforms in 2023
What does FXTM copy trading cost
FXTM does not charge a commission for using the service. The broker’s commission is charged as a spread envisaged for your type of trading account. The average spread on the EURUSD pair is 1.3 pips. However, there is a profit share on each trade, which strategy managers charge for their services.
Profit share of the managers on FXTM is rather high, for some traders it can reach -30%. Profit share is charge on a monthly basis, only when investor equity is profitable. Higher water mark rule applies. Profit share is not paid on profitable trade or not.
Is FXTM copy trading safe?
Copy trading on FXTM is safe, because the broker is regulated. The company obtained licenses of respected regulators:
-
1
Cyprus – CySec No. 185/12;
-
2
UK – FCA No. 600475;
-
3
South Africa – FSCA No. 46614.
EU and UK clients also have additional protection, as the broker is a member of the deposit guarantee fund. Therefore, the broker can be considered a reliable option for copy trading.
The key risk of working with FXTM Invest is the market itself, because profit of traders in the past does not guarantee the same outcome in the future.
Summary
FXTM Invest cannot be considered big, as there are only around 600 strategy providers there. At that, it is not distinguished by the depth of settings or technological intensity. It will be useful mainly for the novice traders, who want to learn to trade, and for investors willing to diversify their portfolio.
The platform is quite simple. All broker’s clients are verified and FXTM holds licenses of reliable regulators, which is why copy trading on this platform can be considered safe and fraud-proof. However, copying trades of even experienced traders is not a guarantee of profit.
In addition, rather high commissions of the most successful traders, reaching -30% of profit share at times, need to be taken into consideration. For example, on the eToro platform, this type of commission is not charged at all.
Expert review
FXTM Invest is not the most popular copy trading service, but it still has advantages. First of all, it is quite simple, making it easy even for a beginner to understand how to work with it. Top strategy providers show good profitability.
FXTM is also convenient in terms of searching for traders – there is sorting and filters with 6 criteria to help you choose. However, it is worth mentioning that only 8 managers have a more or less substantial audience (over 100 subscribers) and only one strategy provider has a really big number of copiers (over 1,000 subscribers). For example, the leaders of eToro rating have up to 20,000 subscribers.
Low entry threshold is an important advantage of FXTM Invest. Therefore, FXTM Invest will be suitable for those traders, who want to test copy trading, but do not have a big budget.
Antony Robertson
Trader-analyst of Traders Union
FXTM Invest copy trading reviews
I’ve been working with FXTM Invest for 2 years now and I have no complaints. Everything operates well, without any glitches. Profitability varies, but, overall, I am earning a stable return. I connected to 4 traders and in case one of them has a failed trade, the profit of the other covers the loss.
Julian Moore, 30
Private Investor
Melbourne, Australia
I am working with several copy trading services, including FXTM. I can tell you that FXTM is a good platform – without any super features, but also without any serious issues. It allows one to earn additional income and that is the most important part.
Anna Fedorova, 49
Manager
Moscow, Russia
I am using FXTM Invest, but, to be honest, I am not impressed. The broker’s platforms are old, and the choice of traders with a large number of subscribers is not big. Unfortunately, the service is not popular and that is the problem. Taking into account high manager fees and broker’s commission, I failed to earn a profit.
Vijaya Käufer, 26
Programmer
Kolkata, India
FAQ
What is the minimum deposit for copy trading on FXTM?
The minimum deposit for copy trading on FXTM is 100 USD.
Which trading platform does FXTM Invest use?
Traders can use MetaTrader 4 and MetaTrader 5.
Is it possible to open a special trading account for copy trading?
Yes, in your personal account, you can open an unlimited number of trading accounts. This means you can open a separate account for trading and another one for copying trades.
How much money can I make on copy trading?
Just as with any investment, there is no guaranteed amount. You can both earn a good profit and lose money. Everything depends on the choice of strategy provider and market situation.
