Clients of JustForex can get additional income using its copy trading service. The company decided not to develop a proprietary platform but instead, they employ the MQL5 platform which is the provider of social trading.
MQL5 is not only a platform for copying trades but is also an official community of traders who work with MetaTrader terminals. Here you will find many additional tools for the trading terminal, as well as a social network and a forum for traders. Let’s take a closer look at JustForex copy trading and find out how to choose a trader and how to enable copy trading.
What is copy trading?
The first service of copy trading appeared in 2010. Since then, a large number of different platforms have emerged. However, the basic principle of copy trading services is the same everywhere.
Traders (strategy providers) offer their trades for copying. Followers can choose the signal providers that are most suitable for them in terms of risk strategy, budget, etc. Then, the user follows the strategy provider, and all transactions are copied to his trading terminal.
Traders (strategy providers) offer their trades for copying. Followers can choose the signal providers that are most suitable for them in terms of risk strategy, budget, etc. Then, the user follows the strategy provider, and all transactions are copied to his trading terminal.
Pros and cons of JustForex copy trading
👍 Pros
• The broker cooperates with the reputable MQL5 platform
• Attractive design
• A large number of tools for analysis
• Simple search for traders
👎 Cons
• Traders’ commission is charged as a subscription fee, not as a percentage of earnings
• Weak control of providers by the platform
• The broker is registered in Saint Vincent and the Grenadines. JustForex does not have a license
How to start copying with JustForex trading?
To start on JustForex copy trading, you need to sign up with a broker and MQL5. There are two ways to sign up at MQL5.
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1
Signing up at MQL5 through its website
You can open an account at the official MQL5 website. To get it done, you need to go to the platform and click Create an Account. The signing up form includes only two fields:
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username;
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email.
You can also go through a quicker signing up with Facebook or Google.
Signing up at MQL5 through its website
Important!
Please note there are no fields for specifying a password in the sign-up form. MQL5 will send you your login password by email. To enter it, you need to click the Log In button.
Signing up at MQL5 - The Log In button
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2
Registration via trading terminal
You can also register at MQL5 from JustForex via the trading terminal. To get it done, you need to download the MetaTrader 4 or MetaTrader 5 platform from the official website of the company. After you download and install the terminal, you need to open it and log in. After that, select Tools in the top menu, and select Options from the drop-down list.
Signing up at MQL5 through its website
In the Options window that opens, click on the Community tab. There the service will prompt you to open an account. You also need to enter your username and email here. After that, MQL5 will also send you a password by email.
To log into your MQL5 account via MetaTrader 4 or MetaTrader 5, go to Community. Under the registration windows, you will see the inscription “If you have an account, please log in”. Click on it and the login menu will open. Enter your username and password.
Signing up at MQL5 - The Log In button
What is the JustForex copy trading network in 2024
MQL5 as of now is a major provider of social and copy trading platforms. It offers copy access to over 1,000 signal providers. By working with JustForex, you will have access to these market opportunities.
 Platform for copy trading |
MQL5 |
 Regulation |
Not regulated |
 Terminals |
MT4, MT5 |
 Minimum investment to copy |
Depends on the selected trader-signal provider |
 Commission for using the service |
There is no service commission. The subscription price is set by the trader. It ranges from $1 to $1,000 per month. Average $50 per month |
 Network Scale |
More than 1,000 strategy providers |
 Markets |
Forex, CFDs, stocks, commodities |
How to find the right trader to copy
To start copying trades, you need to choose the right trader. At JustForex copy trading, the list of signal providers is located in the Signals menu.
MQL5 has several options for choosing a trader. First, use the search bar. It will help you find a strategy provider by name or nickname. You can also find a broker in the search bar. For example, you can find signal providers that work with JustForex. You can also select a trader by the server. For example, it will help if you want to try JustForex copy trading on a demo account.
How to find the right trader to copy
With MQL5, traders can be searched using special categories. There are 8 categories on the platform, including:
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by maximum profit;
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by signal reliability;
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by profitability within a month;
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signals for traders with a deposit under 50 USD;
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having reviews;
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leverage 1:100;
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using automated trading.
To use sorting, you need to click the category you are interested in. After that, the service will sort traders by indicator from highest to lowest.
How to find the right trader to copy - The sorting
Using filters
To select a signal provider for copy trading, you can use filters. MQL5 offers its clients 10 filters, including:
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leverage;
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monthly profit (percentage);
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max drawdown;
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trading activity;
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profit trades;
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initial deposit;
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trading time in weeks;
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number of trades per week;
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number of followers;
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subscription cost.
Also, JustForex filters allow you to select traders that work on netting and hedging.
Using filters
Before following a trader, be sure to read his statistics. To do this, you need to go to your account. Statistics are presented in sufficient detail and well visualized. You can also view JustForex MQL5 reviews about traders in your account.
How to start copying trades
You can follow traders at JustForex MQL5 through the trading terminal. To follow a signal provider, you need to log in to the MetaTrader platform, select Toolbox in the top menu, and Signals from the drop-down list. A list of signal providers will appear at the bottom of the screen, where you can select the most suitable option if you have not already done so in MQL5.
How to start copying trades
After selecting a trader, you need to click on his profile where you will see the statistics right away. Read the information about the signal provider if you have not done so earlier. If you are completely satisfied with the trader’s stats, click the Subscribe button. If the user’s trading signals are paid, the button will display the cost of copy trading.
Subscribe button
After clicking the Subscribe button, the JustForex broker will offer to configure the copy trading. The following parameters are available here:
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copying Take profit and Stop loss;
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synchronizing positions without confirmation (you can cancel or approve the opening of trades manually);
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maximum percentage of the deposit load;
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automatic closing of the trade if the deposit is under a certain amount (indicate the amount);
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limit of spreads for execution.
After you provide the necessary data and click OK, the subscription will be completed. Further, all trades that the strategy provider opens will be automatically copied to your trading terminal.
Copy trading options
Can I make money by copying traders on JustForex?
However, copy trading services do not provide guaranteed profits. There are risks of losing money here also. If a signal provider has opened a losing trade, all traders who subscribed to it will incur losses. To minimize risks, you need to wisely approach the choice of a trader and follow the rules of risk management.
How much does JustForex copy trading cost?
JustForex does not charge additional commissions for copy trading. Transactions are carried out under standard conditions, depending on the type of trading account you chose. The standard conditions are as follows:
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spread for EUR/USD – from 0.6;
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fixed commission – 3 USD per lot.
MQL5 does not charge commissions for copying trades. However, mandatory payments are charged in favor of signal providers. MQL5 has implemented the subscription system. The subscription price ranges from 1 to 1,000 USD per month. The average cost is 50 USD.
Is JustForex copy trading safe?
There are certain questions about the reliability of JustForex. In particular, the management company is registered in the offshore jurisdiction of Saint Vincent and the Grenadines. The broker does not have a license for financial activities, since the jurisdiction does not require this document to be obtained. The company also has regional restrictions. In particular, trade is not available to residents of the United States, Japan, and the United Kingdom. Registration is also unavailable to residents of the European Union.
As for MQL5, this copy trading service does not need a license. The platform does not accept, process, or store customer funds.
Summary
JustForex offers clients the opportunity to copy deals via the MQL5 service. This is the official community and social network of MetaTrader 4 and MetaTrader 5 users. The platform provides good analytics by traders, and it has a fairly convenient search engine and good filters.
MQL5 also contains a large number of additional tools for independent trading. However, the fee policy at MQL5 is not encouraging. In particular, only one payment option is available here, which is a subscription. Thus, you pay for both winning and losing trades. The average subscription price is also quite high. Besides, it is worth noting that JustForex has problems with regulations.
Expert’s review
JustForex chose not to develop a proprietary copy trading service but instead became a partner of the social trading platform MQL5. This is a good choice because MQL5 provides good opportunities. In particular, there are many additional tools for MetaTrader 4 and MetaTrader 5 users. There is also a social network for traders, as well as a forum where you can get a lot of valuable information.
As far as copy trading is concerned, a large amount of statistics is worth noting. This makes it very convenient to analyze signal providers. The analytics are well visualized, the data is presented both in numerical values and in the form of various graphs and infographics.
However, there are questions about its commission policy. The average subscription price is quite high. Moreover, MQL5 does not provide for the possibility of paying a commission as a percentage of profitable trades. There are also questions about JustForex’s regulation. Saint Vincent and the Grenadines is an offshore jurisdiction that many states do not recognize. As a consequence, there are risks of losing your money.
Antony Robertson
Traders Union financial analyst
JustForex copy trading reviews
I have been working with the JustForex MQL5 service for a year now. During this time, there were no problems with the service. All transactions are correctly and accurately copied. The platform gives me a good profit. Also, I like the filters on the platforms. They are detailed and you can use different approaches to find traders.
Adebowale Köhler
investor
Nigeria
I have been working with the MQL5 service from JustForex for a long time, and in general, it is quite good. The platform is quite simple and convenient, the search functions are well implemented, and there are detailed statistics. However, the rather high subscription cost for many traders is upsetting.
Mark Swift
professional trader
South Africa
The MQL5 service is not impressive. The copy trading price is high and many traders charge high subscription fees, although their statistics do not always meet the requirements. There are also some problems with JustForex as this broker is registered in a very unreliable jurisdiction.
Businge Pratt
student
UK
FAQ
What account currencies does JustForex have?
JustForex supports 11 base account currencies. The list includes USD, EUR, GBP, JPY, MYR, IDR, THB, VND, KWD, CNY, and ZAR.
What deposit and withdrawal methods are supported by JustForex?
The JustForex platform allows you to carry out financial transactions using bank cards, electronic wallets such as Neteller, Skrill, Perfect Money, and Sticpay. Cryptocurrencies are also supported.
Is VPS available at JustForex?
Yes. JustForex provides VPS to its clients free of charge.
How much can you earn from copy trading?
There is no definite amount. As with any investment field, you can make or lose money. Be careful with your choice of strategy providers and brokers to increase your chances of success.
