If you are looking for a new strategy or investment opportunity, you must, of course, know and consider key figures and important factors in the assessment. There are special parameters that are particularly important in order to have a good experience.
First of all, the entry barrier must be observed. If you still have unanswered questions, for example“ What is Forex?” Or “ What is day trading ?” You can already invest money via copy trading because you use the expertise of other traders. However, you should start with smaller sums and copy trades.
In addition, transparency is a major issue with this system. It must be clear on the copy trading platforms how much the traders earn whose trade is copied. Their trading history and order book should be just as transparent. Since you have to rely on the expertise of another trader, you have the right to certain information. These should be disclosed openly by the platform.
A good copy/social trading platform offers various features and interaction options for a positive experience. At nextmarkets you can even enter into a direct dialogue with professional and experienced coaches. The selection of different traders also characterises a good platform; if possible, there should also be traders for different asset classes.
Because only if you have a selection and, at best, your own expertise, you can find the right trader whose trading style and approach suits you as a user of copy trading.
Good conditions on the platforms for trading or copying foreign trades are also important, because costs are a factor that should not be neglected. Especially when copying trades with small accounts, the main focus should be on not incurring excessive costs per trade. In addition, there should be a sufficiently large range of different financial instruments available so that traders can also implement their strategies.