To copy a trade in the Videforex, register, create a trading account, confirm your email address, select a trader, activate the copy trades feature, and review your account performance.
Videforex Copy Trade Service - Can You Make Money Copy Trading?
Updated: October 02, 2023
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Copy trading with Videforex offers beginners and investors a chance to potentially earn by copying the successful trades of successful traders. This review provides an insightful journey into the world of Videforex's copy trading, its dynamics, profitability prospects, and the safety measures in place.
What does copy trading mean?
Copy trading is an innovative concept where you replicate the trading actions of another trader in real time. Once you allocate a certain amount for copy trading, each trade made by the selected trader is mirrored in your account. This approach can prove lucrative, given the right conditions and choices. Nevertheless, like all investment avenues, risks are inherent. Ensuring due diligence and understanding that profitability isn't guaranteed can position you better in the financial landscape.
How to get started with Videforex copy trading?
1
Registration. Begin by visiting the VideForex website. Here, you'll encounter a straightforward registration form.
2
Account creation. After providing the necessary details, create your trading account.
3
Email verification. A verification link will be sent to your email. Ensure you click it to activate your account.
4
Choosing a trader. Delve into the platform and scrutinize the available traders. Make your choice based on their track record, risk profile, and trading strategy.
5
Initiating copy trade. Once satisfied with your choice, activate the copy trading feature to start mirroring your trades.
6
Profits & withdrawal. Monitor your account's performance. When ready, you can withdraw your profits, with no additional charges from VideForex.
How to find the right trader to copy
1
Proven track record. Before entrusting your funds to someone else's trading strategy, it's crucial to check their past performance. A track record, preferably extending over a year or longer, offers insights into the trader's abilities, strategies, and how they fare in diverse market conditions. Consistent past performance can be a reliable indicator of future results, but it's no guarantee.
2
Consistent returns. Stability is the name of the game. Rather than being swayed by occasional high returns (which could be due to high risks), focus on traders who demonstrate consistent, stable returns. Such traders are often more cautious and employ tested strategies, reducing the chances of sudden, significant losses.
3
Confidence in real trading. It's one thing to play with virtual money and another to invest one's own hard-earned cash. Traders using real accounts, putting their own capital on the line, often trade more judiciously. This demonstrates their confidence in their strategies and implies they share the same risks as their followers.
4
Popularity. While following the crowd isn't always the best strategy, in the world of copy trading, a trader's popularity can offer some insights. A large number of followers often signals that many trust this trader's judgment and strategies. However, always combine this with other factors before making a decision.
5
Risk profile. Every trader has a unique risk appetite. Some might be conservative, while others lean towards more aggressive strategies. It's vital to evaluate and understand the risk level associated with a trader's approach to ensure it aligns with your own risk tolerance.
6
Historical drawdown. This refers to the most significant dip in a trader's portfolio historically. A lower drawdown suggests the trader is cautious and avoids huge losses, while a higher one might indicate potential volatility. Knowing this helps set expectations and assists in deciding if you're comfortable with such risk levels.
What does Videforex copy trading cost?
While VideForex doesn't charge any fees for fund withdrawals, if you choose to open a CFD order on cryptocurrencies, anticipate fees ranging from 1% to 2.5%, especially if you're utilizing your own funds for trading.
Is Videforex copy trading safe?
Many ask: Is Videforex legit? Safety and legitimacy concerns are important in online trading. VideForex, backed by the legal entity INVOLVA CORP, is registered in the Marshall Islands, which adds to its authenticity. While the platform ensures traders adhere to both its regulations and those of their jurisdictions, potential users must be informed that VideForex doesn't come under the purview of any known financial regulatory body.
Copy trading, while offering the opportunity for investors to mimic the trades of successful traders, also carries inherent investment risks. The performance of a copied trader does not guarantee future profits, and market conditions can change rapidly. Factors such as sudden market fluctuations, geopolitical events, or economic shifts can impact the outcomes of copied trades.
FAQs
How do I copy a trade in Videforex?
To copy a trade, simply identify the popular traders, set your desired investment amount, and activate the copy trading feature. From this point, the platform will automatically and proportionally mirror the investor's moves.
Which trader is best for copy trading?
Optimal choices often include successful money managers, buy-and-hold strategists, and proactive activist investors.
Is Videforex real or fake?
Videforex is a genuine trading platform, operated and managed by the legal entity, INVOLVA CORP, registered in the Marshall Islands.
Is Videforex trading legal?
Videforex operates under INVOLVA CORP, based in the Marshall Islands. While it's a legitimate platform, it's pivotal to note that it's not under any financial authority's regulation.
Team that worked on the article
Alamin Morshed
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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.
Over the past four years, Alamin has been working independently and through online employment platforms such as Upwork and Fiverr, and also contributing to some reputable blogs. His goal is to balance informative content and provide an entertaining read to his readers.
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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.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
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