What is ForexCopy?
The ForexCopy system is a service that allows Followers to copy orders of the most successful forex traders in real time mode. Moreover, Traders can also make additional money, receiving commission for sharing their trading activity. Below there are answers to the most common questions about how to use the service and what other features it provides.
The ForexCopy system provides for copying deals of a trader in a real time mode and opening them automatically on the account of a follower. ForexCopy followers can adjust the number of trades, set the preferred ratio of lots and trading instruments to copy deals on from a certain ForexCopy trader.
Yes, you can. You can copy all the trades or just trades on the instruments you chose.
The commission is paid to a ForexCopy Trader in the following cases:
- When a subscription is cancelled by a ForexCopy Trader or ForexCopy Follower;
- When the rollover function is activated (meanwhile copying trades will continue on the account of a ForexCopy Follower without subscription cancelation);
- If ForexCopy Traders choose a daily commission, they will receive it every day at 11:30 p.m. (GMT+2).
You can close it in MetaTrader, but it is impossible to cancel it.
It is a ForexCopy trader who decides whether to approve applications for copying his trades automatically or manually. If the application is not approved within 72 hours, it is cancelled automatically.
There might be a delay up to 2 minutes, but the instrument, ratio, price and volume are always copied.
The list contains the most popular trading instruments only. If you select the All InstaForex Trading Instruments option, trades on all the instruments employed by a trader will be copied, including futures, stocks, indices, metals, commodities and cryptocurrency.
You will pay the commission you initially agreed to pay until the end of your subscription period. However, new followers of this ForexCopy trader will pay the newly set commission.
Yes, the order settings of a ForexCopy follower will be changed as well.
In case when the balance on the ForexCopy Follower`s account is not sufficient to pay out the commission owed to the Trader after the closure of a trade, the remaining balance will be debited from follower`s account to pay out the commission owed. The remaining pending liability will be covered from the next ForexCopy follower`s next credit to the account, no later than 72 hours after the subscription expires.
Yes, you can, provided you closed all his deals copied and currently open on your account.
Yes, a ForexCopy trader can unsubscribe a ForexCopy follower from his deals provided all the deals copied to the follower’s account are closed, and the commission paid by the follower is more than 0.
The pending order is copied to the ForexCopy follower account when it is executed on the ForexCopy trader account.
Yes, the follower is to have at least $10 (excluding bonus funds) on his account before he can start copying.
