To register as an investor of LiteForex’s Social Trading, please follow the steps below.
- Top up the account you are going to copy trades to via the “Finance”section.
- Move to the Traders section.
- Click on the nickname of the trader that interests you.
- To the right of the profitability chart that opens, set the parameters for your account.
- select one of the 4 copy types; set the equity level at which copying of new trades shall be suspended, specify an amount to copy and click on “Copy”.
More details on copy settings and copy stop terms are available in the official website below.
What types of trade copying are available in the Social Trading platform?
The Social Trading platform offers 4 types of transaction copy.
The Trader copier selects the type and sets the copy settings when your account is linked to the Trader account.
The Trader copier must carefully address the issue of selecting the type of copy, estimate their funds and the trading strategy of the Trader account from which they wish to copy the transaction.
If the amount of your funds is much different from the amount of the Trader’s equity and your experience is not enough for assessing the Trader’s strategy, use the “Copying a fixed share of my equity” option to minimize trading risks.
Also, we would advise you to get acquainted with a Trader’s account description before you choose your copy type and set your parameters.
If there isn’t any, you can always ask your trader in person, sending him/her a private message.
To do so, click “Write a message” button on the “Trader’s info” page.
What is the best amount to invest for Social Copy Trading of LiteForex?
The recommended deposit amount for a trader amounts to 500 USD.
For copy trading, a copy trader normally needs a minimum amount of 50 USD.
To make copy trading as efficient as possible, consider the amount of the trader’s funds, his/her trading volumes, number and types of trading tools used for trading.
Use the Trader’s Calculator to calculate the margin amount, eventual risks and profits, and 1 pip cost for a particular instrument.
Traders’ trading strategies are displayed in a transparent ranking.