copy trading

If you are a beginner with limited market knowledge, copy trading can be a perfect way to get started. Rather than investing your time and energy in learning the nitty-gritty of the market, you can climb the ladder of success by copying the trades of an experienced trader. Sounds interesting, right?

Let’s get into the details and understand what copy trading is, how it works, its pros, cons, tips for copy trading and the best forex copy trade to start with.

What Is Copy Trading?

Copy trading, also known as social trading, is an innovative trading approach in which traders can copy the trades of other traders in real-time. This allows traders to benefit from the experience and expertise of successful traders without having to do their own research and analysis.

The concept of copy trading started in 2005. Before that, traders used to convey their intention to open or close a position through email or virtual chat rooms. Then the concept of automated trading was born in which the traders used to share their trading history so that other traders could follow. This was soon followed by a new method of trading called “Copy trading” Read More