How To Become An Exness Social Trading Investor
To start Exness copy trading, you need:
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Download the Exness “Social trading” application.
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Create an account
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Find the right strategy provider to copy
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Fund your account
The financial trading industry offers participants worldwide the opportunity to earn money from the market. However, not everyone has this opportunity to make money from the financial market because of its dynamic and complex nature. For instance, beginner and intermediate traders tend to lose money in the market due to limited knowledge and experience of how the financial market moves. Besides, it is only sometimes convenient for busy traders to participate in the market because of other commitments. To this end, we have detailed a comprehensive review of how to earn money from the financial markets through the Exness copy trading system.
What does copy trading mean?
Copy trading is a feature provided by financial trading brokers that allows investors to copy the trades of professional traders. Therefore, it enables investors to earn money from the financial market even with little to no experience in financial trading.
Essentially, you connect your trading account to professional traders to automatically replicate their actions on your trading account. So, whenever a professional Forex trader buys or sells an instrument, for instance, it is also reflected on your trading account in a proportional lot size of how much you are willing to invest.
Exness copy trading pros and cons
👍 Pros
• Profit from copied trades.
• Transparent results of strategy providers
• Investors pay a commission to the strategy provider only when the copied trades are profitable.
• Many experienced signal providers (traders) to copy trades from.
• Investors have complete control over their funds.
• Investors can copy trades from multiple strategy providers.
👎 Cons
• Requires more capital than trading by yourself.
• Investors could incur severe losses due to a losing streak from the strategy provider.
How to get started with Exness copy trading?
Exness Brokerage offers copy trading services through the social trading platform. It is a section that avails profitable Forex traders the opportunity to monetize their signals. Traders that offer trading signals for investors to copy are known as strategy providers. Here is a step-by-step guide on how to become an Exness social trading investor:
Download the Exness “Social trading” application
The first step is to download the Exness social trading app – a platform where Exness hosts a copy trading service. After installing it on your device, click on the social trading icon and then log in with your Exness account details (this is on the assumption that you already have a verified trading account with Exness).
Create an account
Go to the investor’s section to create an account to be eligible to copy trades from strategy providers.
Find the right strategy provider to copy
Navigate to the strategy main area to reveal a list of strategy providers, and carefully study their trading statistics to find the right trader to copy.
Fund your account
Deposit to your social trading app account to start copying trades. To do this, go to the “Account” tab section and click “Make deposit”.
Finally, click the “Start copying” tab to connect your account to a strategy provider. Also, ensure to be funded with the minimum amount set by the signal provider in your account before you click on the “Start copying” tab.
Note that the Exness copy trading system uses the signal provider’s equity to calculate the suitable copy coefficient value to open trade on an investor’s account. The copy coefficient determines the proportional lot size allocated to each copied trade from the signal provider based on the investor's equity.
The copy coefficient is one of the most important factors every intending investor needs to take seriously. So, it is recommended that investors have equity higher than the minimum investment level set by the strategy provider to avoid incurring a needless loss of trading capital in the process of copying trades from a signal provider.
How to find the right trader to copy?
The ultimate goal of investors in copy trading is to make a profit and grow their portfolios. So, investors need to sort out the right strategy providers that can help them earn money from the Forex market.
Thankfully, the social trading app shows the metric performance of all signal providers to assist potential investors in making the right decision. Here are some metrics that would help you find the right signal provider on the Exness social trading application:
Most copied: This indicator shows the number of investors copying signals from a strategy provider. The number of investors subscribed to a signal provider tells a lot about their performance in terms of making consistent profits in the market. You can use it as a filter to find the right signal provider.
Risk score: The risk score of a signal provider depicts the risk management of the trader in question. Generally, a signal provider with a high-risk score is a bad choice for any investor. The higher the risk score, the higher the probability of losing trading capital. Here is the risk score scale: Extra high risk: 9-10; High risk: 6-8; Moderate risk: 1-5.
Best return for 3 months: This filter helps you assess the performance of a signal provider for the past three months. It helps to identify a strategy provider with consistent profits.
Best return per month: You can also compare the monthly return of a signal provider with their return for three months performance rate to make an informed choice.
What does Exness copy trading cost?
Investors using the Exness to copy trades pay the strategy provider a pre-defined commission rate for profitable investments only. The commission rate is not uniform; it varies for different strategy providers.
Is Exness copy trading safe?
Exness is a safe brokerage platform. Therefore, it is not a scam. Multiple authorities regulate it like the FCA (Financial Conduct Authority) in the UK, FSC (Financial Service Commision) in Mauritius, CySEC (Cyprus Securities and Exchange Commision) in Cyprus, FSCA (Financial Sector Conduct Authority) in Seychelles, FSC (Financial Service Commision) in the British Virgin Islands, and CMA (Competition and Market Authority) in Kenya.
The regulatory bodies monitor the activities of Exness to ensure it follows strict financial policies to maintain ethical trading practices and guarantee the safety of clients’ funds.
FAQs
Does Exness allow copy trading?
Yes, Exness allows copy trading through the Exness social trading app.
Is copy trading illegal?
No. Copy trading is a legal way of earning money from the financial markets.
Can I trade with $10 on Exness?
Yes, you can trade with $10; it is the minimum deposit on Exness.
Which is the best copy trading platform?
The Exness brokerage is one of the best platforms for copy traders.
Team that worked on the article
Joshua Francis is a professional Forex trader with 4+ years of experience in the financial industry. He trades the XAU/USD and GBP/JPY pairs. He is also a ghostwriter and author for Indicatorspot and Traders Union, where he puts his intensive research skills and deep knowledge of the financial markets into freelance writing.
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.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.