Copy trading experienced a growth burst over the past fifteen years, and many companies have entered the sector to take advantage of rising global demand. We have evaluated the FP Markets copy trading offering to help new copy traders get started.
Copy Trading with FP Markets
FP Markets copy trading service is available via several providers or its in-house service. It ensures traders have ample choices to find signal providers that suit their trading style and risk profile.
Here are the FP Markets copy trading options:
- Embedded MT4 service - a leading algorithmic broker.
- Embedded MT5 service - ideal for equity CFD copy trading.
- Embedded cTrader service - a reasonable MT4 alternative with notably fewer providers.
- Myfxbook AutoTrade – a well-trusted third-party service copy trading provider.
- Signal Start – a fee-based emerging alternative.
- FP Markets Social Trading – an in-house maintained copy trading service.
Getting Started with FP Markets Copy Trading
Before using the FP Markets copy trading service, new traders must register, verify, and fund their FP Markets trading account. Please note that the registration is longer than that of many competitors, and new traders must complete every step.
How to Use FP Markets for Copy Trading
After traders verify and fund their FP Markets trading accounts, they can start copy trading by choosing one of the options below:
- Download MT4 and search the copy trading service for signal providers.
- Download MT5 and search the copy trading service for signal providers.
- Download cTrader and search the copy trading service for signal providers.
- Open a Myfxbook AutoTrade account and link it with their FP Markets trading account.
- Open a Signal Start account, pay the $25 monthly subscription fee, and link their FP Markets trading account.
- Sign up for the FP Markets in-house copy trading service.
How to Find the Right Trader to Copy
Finding the right trader to copy is the first step copy traders should complete after registering for any of the FP Markets copy trading services.
Here are a few tips on how to find the right traders to copy:
- Look for a strategy that reflects your trading style.
- Ensure the risk profile of the signal provider is compatible with yours.
- Evaluate past performance but understand that it is no guarantee for future success.
- Avoid signal providers with less than three years of verified trading results.
How to Start Copying Traders Using FP Markets?
FP Markets copy trading is usually automated, meaning copy traders must only select signal providers they wish to follow. Traders should follow the instructions of their preferred copy trading service and can sometimes define select parameters.
Pros & Cons of FP Markets Copy Trading
Traders should think about the pros and cons of FP Markets copy trading before looking for signal providers.
The pros of FP Markets copy trading are:
- A well-regulated broker
- Competitive, commission-based trading fees
- Choice of copy-trading providers
- In-depth statistics
The cons of FP Markets copy trading are:
- Lengthy registration process
- Insufficient filters
Bottom Line
FP Markets copy trading offers a choice of copy trading services and signal providers in a well-regulated, trusted environment, granting traders a passive trading approach.
For further information about FP Markets, you may read our FP Markets broker review. It depends on individual preferences, but an active trading community with plenty of signal providers and strategies plus competitive trading fees is essential. FP Markets is a well-regulated broker with a cutting-edge trading infrastructure, making copy trading safe. Please note that FP Markets neither controls nor supervises signal providers but lists past performance transparently. Therefore, copy traders must conduct proper due diligence when selecting which ones to copy. Signal providers will set their performance fee to a maximum of 50%. FP Markets trading fees also apply, dependent on the account type and asset. While traders can make money copying traders on FP Markets, it is challenging to make money copying traders with any broker. Two of the reasons are that up to 90% of traders lose money, meaning most copy traders copy losing portfolios, and out of the profitable traders, the majority keep their strategies a well-guarded secret and do not offer them for others to follow.FAQs
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