(Newswire.net — April 28, 2023) —
Most inexperienced traders struggle to build a profitable trading strategy. In contrast, copy-trading looks to be a viable alternative. It is critical to copy trade since it is effective. Amateurs all over the world are making money thanks to copy trading. Copy trading is a profitable long-term trading strategy that anyone, regardless of experience, may employ. You can make money if you find the correct trader to copy.
After reviewing several trading app in India, Traders Union experts published one of the best copy trading apps.
Continue reading to learn more.
Four Reasons to Copy Trade
Here are some reasons to be a copy trader:
Learning Curve
Trading forex, stocks, or cryptocurrencies may be both complex and challenging. For new traders, the learning curve is high. One most effective ways to learn about trading is by copy trading. When you Copy trade, your trading account automatically duplicates the trades of a more experienced trader. You may be able to observe a trader in action in real-time, which aids in studying the trading charts and when to buy or sell during market conditions.
Time-Saving
Trading is a full-time occupation. Please don’t believe the TV advertising that suggests you can do it in an hour. Professional traders spend hours daily reading over charts, following news, opening and closing trades, testing scenarios, and more. It requires more time than working full-time. You can delegate this complex and time-consuming activity to others via CopyTrading. Even if you’re an experienced trader, copy trading can help you. This will give you a secondary source of income and allow you to take a break from trading.
Portfolio diversification
Portfolio diversification is the process of investing your money in several asset classes and securities to lower the portfolio’s overall risk. Consider what would happen if you invested all your money in a single transaction. Everything will be fine as long as the stock performs nicely. Copy Trading allows you to copy multiple people at the same time. By duplicating numerous people’s transactions, you can spread out your risk using small amounts of money for each trade.
Source of Passive Income
Copy trading is a win-win option that requires very little effort—users of Copy Trading like researching the best traders and trying various methods. CopyTrading allows you to make money while you sleep; if you imitate a few traders, your account may make 100+ trades weekly. CopyTrading requires relatively little effort once set up. All that is required is to check your account every few days to ensure everything is in order. As a result, it is one of the most efficient ways to generate passive income.
According to Traders Union experts, one of India’s best copy trading apps is the ICMarkets. It is a great broker for automated trading lovers, beginner traders, and scalping enthusiasts.
What is IC Markets?
Due to its low commission charges, IC Markets is one of the market’s most affordable trading platforms. Additionally, it offers fantastic order execution tools and numerous ways for you to generate passive revenue.
It also provides additional copy trading services in collaboration with Autotrade, MyFxBook, and ZuluTrade.
Features of IC Markets
Here are some of the features of the IC Markets trading app:
Usability
IC Markets collaborates with other social trading platforms like Autotrade and ZuluTrade because it lacks a proprietary copy trading platform.
You can invest in a wide choice of trading instruments with a $200 minimum deposit.
Safety and Regulations.
Leading agencies in the EU and Australia licensed the IC Markets. It is licensed by the Australian Financial Services License (AFSL No. 335692) in Australia and the Cyprus Securities and Exchange Commission (CySEC License Number 362/18) in Europe.
Copy trading Features
Using ZuluTrade’s suggestions is the simplest approach to copy trade on IC Markets. The editors and algorithm update the top signal providers’ recommendations regularly. This information can be found under the Top Traders section.