Once you have downloaded the Social Trading application and given our investors’ guide a read, you must be eager to start copying your preferred strategy provider’s strategy.
Before you do so, we have a checklist for you to go through, to make sure you know everything about the copying process.
- Complete your account verification. Although it is possible for you to start copying without complete account verification, failing to do so will result in your account being restricted for copying in a short period of time. To avoid this, we recommend that you complete your account verification before you get started.
- Only strategies that fulfill the set requirements are visible on the application. Here is an article on the requirements for strategy visibility on the application.
- The overall total equity limit of a strategy and all investments in it is USD 200 000. The amount you may be able to invest in a strategy depends on how much of this limit has already been utilized.
- Once you start copying, it is recommended that you monitor how the investment is performing. You can also manually stop copying if you wish to do so.
- Note that while it is possible to stop copying a strategy provider, it is not possible to close a specific order that is copied from the strategy provider. Once you stop copying, all orders copied will be closed at current market prices.
- It is possible to copy several strategies at the same time, these will be considered separate investments. It is also possible to copy the same strategy more than once.
- Multiple investments do not affect each other in any way. Each has their own copy coefficient which is used to calculate the commission payable to the strategy provider.
- You can start/stop copying trades even when the market is closed. You can read more information about this here.
- If the strategy provider’s trades are closed due to stop-out, the investments copying the strategy will be closed automatically within 7 days. This is done in order to make sure that the true investors of the strategy are reflected on the application at all times.
- If there is any negative balance on your investment account due to the strategy provider’s account being stopped out, it will be compensated and set to 0 automatically.
- Commission is to be paid only when the copying is profitable. You may read more about this here.