Quotex’s copy trading service allows traders to potentially profit by mimicking trades executed on the platform. It can bring you higher profits, but only if you choose the right strategies and the right trader to copy their trades.
How Does Quotex Copy Trade Work?
Updated: February 12, 2024
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In this review, we will explore the Quotex Copy Trade service, an innovative feature allowing traders to emulate the strategies of seasoned professionals. We aim to provide an in-depth analysis of how to get started, how to find the right trader to copy, and the overall cost of engaging in copy trading on Quotex. Our objective is to present a comprehensive understanding of whether copy trading can serve as a viable income-generating method.
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Is copy trading on Quotex free?
Yes, Quotex does not charge any fees for its copy trading service. Traders only need to deposit the minimum $10 to get started.
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Is Quotex regulated?
Yes, Quotex is regulated by the IFMRRC.
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What are the risks of copy trading?
As traders are not in control of the copied trades, there is a risk of losses if the copied trader's strategy performs poorly or they make mistakes.
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Can I withdraw copy trading profits anytime?
Yes, traders have full control over their funds and can withdraw profits at any time as they wish.
What does copy trading mean
Put simply, copy trading allows investors to replicate the trades of other, more experienced traders on certain trading platforms.
The idea is that novice traders or those without as much time to continuously monitor market activity can benefit from "copying" the portfolio of a trader who has a proven track record of success. Through copy trading, investors can subscribe to receive the same trades as a trader they follow in real-time. When that trader opens or closes a position, the copy trader's account will likewise place the same trade.
In this way, copy trading removes some of the complexity and stress that comes with independently researching trades. Investors can potentially achieve strong returns by following traders who have demonstrated skills in identifying profitable trading opportunities. Of course, there is no guarantee of success, as even the best traders experience losing trades from time to time.
Quotex copy trading pros and cons
👍 Pros
• Affordable minimum investment amount – USD 10;
• No trading fees and no deposit, withdrawal, and account fees;
• A simple and user-friendly trading platform designed for binary options trading.
👎 Cons
• Leveraged trading is not available;
• No license of an international regulator;
• There is no quality education and instruments for analysis on the website;
• You cannot withdraw the deposit bonus;
• Shares are not included in the available trading instruments.
How to get started with Quotex copy trading?
Commencing copy trading on Quotex is straightforward and requires just a few steps:
Access the Quotex login page: Log into your Quotex account, then select a “Strategy Manager: from the list of experienced traders.
Make a deposit: The minimum deposit on Quotex is $10. Deposit the amount suitable for your investment needs.
Click the Deposit button
Choose deposit amount and bonus
Copy Strategies: Once you have made your deposit, you can start copying the strategies of your chosen trader. Ensure to review their trading history and performance before proceeding.
Withdraw Profits: Once you start making profits, you can withdraw them as you prefer. Always keep an eye on your investment and adjust your strategy as needed.
Click the Withdraw button
Choose withdraw amount and payment method
How to find the right trader to copy
Finding the right trader to copy is crucial to your success in copy trading. Here are some points to consider:
Trusted Traders: Trusted traders often have more followers, indicative of their excellent track record and credibility. Trust is an essential factor in deciding who to follow in copy trading.
Returns: Steer clear of traders with negative returns. Consistent positive return on investment is a strong indicator of a successful trader, which boosts your probability of generating profits when copying your trades.
Number of Trades: More trades could suggest more experience and denote a high-risk strategy. While more trades could mean more opportunities, balancing the potential gains with the inherent risk is vital.
Risk Score: Traders with lower risk scores are generally safer to copy, although their returns may be lower. While high-risk trades can yield significant returns, they can also result in substantial losses.
Consistency: Look for traders who consistently generate positive returns over a significant period. This consistency often indicates potential success better than a few high-return trades.
Open Trades: The number of open trades can reflect a trader's risk strategy. Many open trades may imply a higher-risk strategy and should be considered before copying a trader.
Maximum Drawdown & Winning Trades: Analyzing a trader's maximum drawdown and their percentage of winning trades can help understand their risk-return balance. Choosing traders with a healthy balance is crucial to mitigate potential losses.
Level of Activity: Regularly active traders are more likely to adapt to market changes swiftly. This responsiveness can be a crucial determinant of success in the volatile trading world.
How to get started copying trades with Quotex
Starting to copy trades on Quotex involves the following steps:
Access the Quotex login page: Access your Quotex login. Navigate to the copy trading section and choose a “Strategy Manager” from the list.
Make a deposit: The minimum deposit on Quotex is $10, which you can deposit in the currency of your choice.
Copy Strategies: Once you've deposited, you can begin copying the strategies of your chosen trader. Ensure to review their trading history and performance beforehand.
Withdraw Profits: When you start making profits, you can withdraw them. Constantly monitor your investments and adjust your strategy as necessary.
What does Quotex copy trading cost?
Quotex trading doesn't charge any fee for copying trades. This enables traders to explore and utilize this service without any upfront cost apart from the capital they wish to invest.
Is Quotex copy trading safe?
Many ask: is Quotex safe? Quotex is regulated by the IFMRRC (International Financial Market Relations Regulation Center), providing an additional layer of safety for its traders. With official company number 226716, a secure website and platform, 2-factor authentication, and secure payment methods, Quotex upholds high-security measures. Trading on this platform is legally registered and regulated, which adds to its credibility. The platform has implemented several measures to protect against data abuse and assure traders about their security.
Team that worked on the article
Alamin Morshed
Contributor
Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses who want to improve their Google search rankings to compete with their competition.
Dr. BJ Johnson
Developmental English Editor
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.