People are often afraid to try new things because they feel they don’t possess the skills necessary to succeed. For novice traders, copy trading can be a great option. It allows you to learn to trade properly by taking things slow. If you’re new to Forex trading in the Philippines, this means you can both learn and make money. It can give you confidence to be able to make profits following the advice of experienced traders from the beginning of your trading career. This literally means you will be supported by the best Forex traders, hand in hand, through each trade you make.
Copy trading is a great way to start if you are a novice trader with little trading experience. Instead of investing your time and energy learning about the markets you can simply copy the success of someone who is more experienced.
If a trader is able to find a successful trader in the Philippines, copy trading can lead to high profits. Market risk is the biggest risk for a trader when copy trading. A trader who copies a strategy can lose their money if it fails. Liquidity risk is also a concern for traders if they trade instruments that are not liquid in volatile markets. Trading can also expose traders to systematic risks when the product they trade experiences rapid declines or rallies.
It’s easy to set up copy trading. Select the user you wish to copy, then enter the amount and click COPY. In real-time, you’ll duplicate their positions in proportion and automatically. You can stop or start copying users at any moment.
Yes, copy trading in the Philippines is legal provided your broker is properly regulated either by the Commodity Futures Trading Commission in forex or the Securities and Exchange Commission in stocks.
What is the cost of starting copy trading in the Philippines?
You don’t need to have a lot of money to begin copy trading in the Philippines. Although you can start copy trading in the Philippines with just $100, your chances of success may be limited if you have less than that.
You might consider starting with a smaller amount to limit your options. Otherwise, you could quickly exhaust your margin. To ensure that trades are going through, signal providers may require a minimum investment.
Check out these Top Copy Trading Platforms in The Philippines:
While you can always replace any of your current ones, you will need a separate Invest account to keep track of each trader. Except for the profit you make when they make a profit, there are no additional fees to use copy trading.