If you have no idea of daytrading yet the eToro Social Investment Network is probably the best choice for you. On this unique and innovative platform you can chat and interact with other traders in order to change out trading strategies or just copy their trades. The eToro Social Investment Network Platform is very clear and support is always at hand. Just profit from the wisdom of the crowds in order to improve your trading experience. The eToro Copy Trader is a highly innovative platform and centre of the entire eToro Social Investment Network. Just "follow" (copy) the best daytraders on the platform in order to diversify your portfolio and thus your risk. As a beginner you should start with a demo account in order to get used to the platform and its many functions. As soon as you are fit on the demo account just switch to trading with real money. You can start trading from $200, but if you want to start a real trading career and live from your trading it is better to start with not less than $2000 real money account. There's a rule that says the more money you are trading with the easier it is - and so it is. With a $2000 account or more you can scale out your trades properly, use a proper risk and money management and take several profits (partial closes).
eToro Social Investment
You can use the eToro Investment Network to earn money in several ways: Either you are a good trader and earn money from your followers, that copy your trades. But be careful, as soon as you lose money you will also lose your followers. The second way to make money with eToro is to build a portfolio of successful traders and have them double, triple and quadruple your balance. Even if you are a succesful follower and you have built a successful portfolio, it can be copied by other followers according to the "follow the follower principle" and thus you will earn money from them.
Regulation and Leverage
Make sure that your social trading platform provider is regulated properly, either within the EU or in Australia. Recently the ESMA has set new standards in order to protect investors and traders in leveraged trading. Within the EU the leverage is from now on not higher than 1:30 depending on the product and there is no more reserve liability wich means, your account cannot drop below zero anymore.
Funding and withdrawal
In order to join the social investment network just sign up for a new account and choose your preferred payment method. You have the choice between Credit Card, PayPal, Neteller, Webmoney, Wire Transfer and many other payment methods. As soon as you have made some good money you might want to withdraw it. Enter the Cashier section on the platform and click on the withdrawal tab. Just enter the amount you want to withdraw and click "submit". Minimum deposit for most of the social trading plaforms is $200.
If you decide to sign up with a social trading platform you need to know whether you want to follow an algorithm or a human trader. Whereas eToro has only human traders on their platform, ZuluTrade offers Expert Advisor Copy Trading as well. Mind that Expert Advisor often deliver a breathtaking performance over a short period of time only to crash the account shortly afterwards.
Mobile Trading: eToro
Download the trading platform to your iPhone, iPad, smartphone or android tablet and take your trades, followers or gurus everywhere with you. Just check your trades on the road or on the train, close a trade or set a trailing stop whenever you want. Stay in touch with your friends and have a chat with other traders.
Follow your Top Trader
If you either don't feel like trading on your own or you have no time to trade for yourself just choose a top trader amongst the eToro top traders widget below and follow their trades. You can just risk 20 per cent of your trading capital for one trader. This is to prevent you from losses and in order to help you to diversify your portfolio. Don't trust their equity curve alone and don't follow a top trader that has just joined the network. Even if they have made a stunning profit in a short period of time it can just be luck. In the next moment he will wipe out all his account. Have a look at the best traders that trade for at least 6 months or 1 year and who show a constant profit with a draw down that should be lower than 20 %. Every trader has losses, that is absolutely NORMAL! Just make sure that the trader you want to copy has more profits than losses. This is a hint on a good risk- and moneymanagement. Diversify: Don't choose 5 traders at once who all trade the EURUSD. In order to diversify your risk (never all eggs in one basket!) choose different traders that trade different assets, which can be different currencies, oil, gold and indices. Fire bad traders: If there's a trader that constantly produces losse, just get rid of him. If you have found a good trader with a promising equity curve just wait for him to drop into a draw down and add him to your portfolio when he starts to recover.
No conception of forex or CFD trading? Too many negative trades or not enough profit? The only solution then can be the free forex signal service: ayondo. This platform works like ZuluTrade: There is a wide range of professional daytraders amongst which you as an investor can choose the best ones (up to five) in order to increase your fortune. In contrast to ZuluTrade the professional daytraders must go through a hard certification process before they are allowed to provide other traders with their free trading signals. You can register with ayondo for free and choose up to five signal providers with a good trading record. Once you have choosen a signal provider you can follow them from €100 on and their trades are being mirrored 1:1 on your broker account with ayondo markets. Registration is free of charge and as an ayondo member you are spoilt for choice amongst the best daytraders in the world. On your "watchlist" there is an overview of several traders. As soon as one of these traders opens or closes a position, a message shows up on the top right corner of your screen. Then you can decide whether you want to trade these signals manually or if you want to activate the automated trading system. If you go for the latter the trading signals will be executed in realtime on your forex broker account. The order volume will be adapted automatically and a stop loss function will be set.
Commissions and fees with ayondo
There are no fees whatsoever for you as a client when using the ayondo platform. Nevertheless the professional traders want to be rewarded for their service - otherwise they wouldn't reveal their trading secrets. This is why they get a commission by ayondo. The more successful they trade, the higher their commission. This is why they try to make as much profit as possible. An ayondo trader always wants to trade as well as possible.
Advantages with ayondo
- Complete transparency over all trades executed
- Add up to five traders to your portfolio
- FCA Regulation and located in London
- Next to forex trading commodities and indices
- Certfied human traders, no EAs allowed
- No fees for you as a client
- Minimum deposit is 100 EUR or USD. Thus the service is even accessible for small private investors.
Whoever starts forex trading is mostly overwhelmed by the multitude of strategies, signals, analyses and trends available. In order to increase your fortune you don’t have necessarily to be a financial expert or a top trader. There are mainly two possibilities on the market by means of which everyone can profit from the forex market: Automated Forex Trading and Managed Accounts. The disadvantage: It is less exiting than real forex trading and you don't learn trading for yourself. The advantage: You can choose a real expert who manages your account and you don’t have to worry about your money. Let’s briefly explain the difference between those two possibilities: Whereas a Managed Forex Account is being managed by a real human trader, an Automated Trading System is a machine that opens and closes positions according to a special pattern. The latter can be more risky than the first one but this depends on the quality of the EA (Expert Advisor). In order to take advantage of a managed forex account or an automated trading system one have to register with a forex broker.
Managed Forex with ZuluTrade
The Forex Platform ZuluTrade exists since 2006 and presents a unique way for forex beginners to increase their fortune even if they have no idea of foreign exchange. If you have a time consuming job and not much time to learn forex trading just sign up with ZuluTrade, open one or more demo accounts and have a look at the result.
Managed Forex – how does that work?
There are various experienced forex traders on the platform who are happy to share their experience with you. You can choose one or or more of them and “follow” them like on twitter and their trades are being mirrored on your trading account. The forex traders on ZuluTrade are mostly retired financial experts or forex freaks that do forex trading for a living. Some of them are EAs (Expert Advisor-Systems) which means that the trader is a robot, an automated trading system that sells and buys according to a certain pattern. And why do they do that? They don’t do that because they like you so much - but get money for this. For every lot profit on your account they get a slight commission. This is why they try to trade as good as possible and to get more and more followers and thus to make more and more money. In order to participate we highly recommend to open an AAAFX-Account with ZuluTrade and start funding your account. Why AAAFX? AAAFX ist the best Broker in combination with ZuluTrade as their platform is already implemented within the ZuluTrade system. Thus you can avoid slippage and delayed order execution. Additionally you will get a 10% bonus on your fund. Otherwise your broker has to activate another trading account for ZuluTrade which can cause problems or last several days.
How to choose the best signal provider?
There are so many signal providers on ZuluTrade – whom shall I choose? The signal providers on the platform are evaluated completely automatically according to an algorithm. This is why fraud is not possible. The best forex traders on the platform rise in the ranking and you can choose them or not.
There are traders with a high level of risk and others with a lower level of risk. Choose the first one if you want to make (or lose) your money fast and the latter if you prefer the slow and more secure way. For the first steps open a demo account or two and start choosing some signal providers. Change to a real account and take the signal provider with the strongest performance.
How to set up ZuluTrade successfully
At the first glance ZuluTrade might seem too simple and too easy. But be careful, even with this managed account system it is possible to burn all your money very fast - unless your account is configured well. The biggest enemy of your ZuluAccount is: your GREED. So be careful and configure your Zulu account according to the following steps:
- Limit the number of your max. open lots. For every mini lot traded your account must be funded with AT LEAST $600. For a open standard lot your have to have at least $6000 in order prevent a margin call.
- When choosing your signal provider limit the number of your max. open trades for each of your signal providers. Thus you spread the risk over several signal providers.
- Pay attention to the duration (column 'weeks') your signal provider trades for Zulu before you follow them. Don't follow signal providers who have joined the platform recently or study their strategy first carefully on a demo account.
- Pay attention to the equity curve of your signal provider, it should increase steadily. To make a fulminant profit within a short period of time is not difficult with forex but it is difficult not to lose the money again.
- The probably most important figure in the performance table is the number of followers. The more followers a signal provider has the better his trades are as bad traders won't have many followers.
- Again: Please pay attention to your max. open lots and don't open too many lots at once. This will lead you to a margin call which means that all your open positions are being closed. Rather go for a safe and moderate strategy trader than for one with a high risk level.
How much money does that cost?
ZuluTrade is absolutely free of charge for everyone – there is no contract between parties. You can add or delete any trader at any time. You just provide your money in order for an experienced trader to increase it and you can withdraw it whenever you want with your broker. Not worth mentioning that it is just YOU who can withdraw money and fund your account with your broker.
How can I become signal provider?
You are an experienced forex trader and would like to become signal provider yourself? Just register with ZuluTrade. The more successful you trade the more followers you will get and for each trade that is being executed on a live account you get a commission of 0,5 pips per lot. ZuluTrade is quite new so don’t hesitate to register and become one of the most successful forex traders on the platform. ZuluTrade is multilingual and offers a 24/7 support via mail, chat or phone. For several weeks ZuluTrade has Binary Options on offer and welcomes successful binary options signal providers as well.
Open various live accounts and split your fortune. Thus you can better track the performance of your signal providers over a long period of time and choose at last the best one. At the same time you can minimize the risk of a total loss.
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