Exness Social Trading: How to copy other traders – Review & tutorials

Exness launched a new service or product: social trading, in the summer of 2019. The number of participants just increased in about 3 months to 30,000. Social trading has been for a long time, and it’s not new at all. 

Some programs copy trade of MQL5, Etoro, Zulu Trade, etc. So how did Exness social trading get developed on its own? Exness social trading is a very different kind of program as it is very different from other publishing companies. They have their platform as well as set rules of their own. 

Biểu trưng Exness

The users can use this simply and easily. The target audience for this platform is true investors who don’t know how to trade, yet they apply for their investment strategies such as trading stocks or commodities.

What is Social Trading?

Social trading is a practice that helps newbie traders copy the experienced traders, and they earn from both the profitable trades. Using a spread of tools allows you to control the investment yourself only without anybody’s help. 

Social trading is a tool that allows investors to keep track of the transactions made by investors worldwide. It follows the same principles as that of the social networking of today. And it is the same as having a social network for investors.

Investors can also review transactions made by the other investors and decide whether they need to copy their procedures or not. This is done by the brokers only. The Exness Social Trading does exactly that.

There are largely two kinds of people involved: The investor & the strategy provider

#1 The investor

The investor is known as a copy trader who uses social trading services to browse and select the trading strategy created by all the traders who have first-hand knowledge of the trading. They are known as the Strategy providers. They help in copying the kind of trades made in the strategies.

#2 The strategy provider

A strategy provider is the main boss of the whole situation. Their goal is to profit from the trades, and as they profit, the investors profit from it. The strategy is calculated through metrics as they have to calculate Return and risk as well

The return denotes the kind of performance that took place, and the Risk talks about the range of potential risks that could take place anytime and anywhere. 

A strategy provider also earns their commission when their strategy gets profited at the rate they have already set, such as 0% to 50%. They get this commission by the end of this period of trading.

Why do people do Social Trading?

People do social transactions to make everything convenient. It is also done to help the business investors earn more experience and learn more. An inexperienced investor would not know how to use the indicators properly. 

This is also for those who don’t understand the cycle of events and its effects on the economic calendar. Therefore, the aspiring trader accepts all kinds of trends and strategies from any professional investor.

How does Social Trading work?

There are two kinds of people involved: the investor and the strategy provider. 

As a trader (a strategy provider)

Let us see how strategy providers work. If you have a trading strategy that you think is the best that you think would benefit others earn profits from, then you can do the social trading through Exness. 

All you have to do is open a social trading account and share your trading strategies there. It is fairly easy to do.

  • Sign in to the Exness Cabinet and go to the “social trading” section. You can now locate a form on the cabinet to register trading strategy with the Exness communities.
  • Now you must name your strategy, give some descriptions, and set a password. Now click on the ‘continue” button. A page will appear on your screen to declare a profit ratio and account currency according to your preferences.
  • Decide on a profit ratio that can start from 0% and go till 50%, and after this, your return will be calculated. For example, if you keep 5% as commission and an investor copies your trade, the question lies in how the investor would pay you for the profit they made? 

The answer is simple since you charged a commission, you are already charging your investor with a profit for yourself. Therefore, if the investors get a profit of USD100, you will be given its 5%. 

  • The last thing you have to do is to upload a profile picture of yourself so that investors can recognize you. Now you are a registered strategy provider on the social trading account. A confirmation email is also sent to your address with a social trading account. Now you can either trade from an account or copy the trading system.

As an investor

Investors are the opposite of strategy providers but do less work and gain more than the strategy provider. You also have to find the best trading strategy and copy their style or strategy. 

Therefore, you have to download the Exness Social Trading app and create an account. You can download the app on your iOS as well as android systems. And copying is an easier task than you might think.

Copying is fairly easy. Just choose a preferred trading style and deposit via your preferred deposit system. The trade gets executed automatically when the traders close or enter the account. You only have to deposit or withdraw funds from the respective social trading account.

How can you do copy trading?

Copy trading is a very common practice in trading markets. Copying is a process where the investors copy the strategy provider’s trade account by factoring in the copying coefficient. Let us discuss the two kinds of scenarios that an investor may come across:

  • Copy without actual open trades

An investor can choose a strategy to invest in for which the trades have not opened or will not be open for a while. Once the investor clicks on the ‘Open new investment”, the system will calculate the copying coefficient. However, when the strategy provider opens up a trade, it gets copied in the investor’s account where the opening price is the same.

  • Copy with actual open trades

When an investor chooses a strategy that has open trades to invest in, as he chooses the ‘Open a new investment’ option, the system calculates the coefficient of copying. 

Here the coefficient is calculated differently and has the provider’s open trade spread cost. The open trades get copied on the investor’s account based on the current market price. It could be different from the trade price in the strategy provider’s area.

  • Copying Subsequently

When a strategy provides opens up a trade, it gets copied immediately on the investor’s trading account with the opening price the same as the strategy provider. The copying coefficient is the same as the coefficient calculated according to rules.

How do you choose the best copy traders?

This has to be the most difficult challenge of copy trading is selected from the copy traders. There are different kinds of strategy providers on the platform, and you must choose from many factors.

So we have narrowed down a list that you can base your copy traders on. The first and foremost thing you have to do is validate the trader’s profile description. Here you will find the data for the best data trader to copy from.

  1. Track record is proven

You must check the trader’s performance for the previous year and see if they have been trading for a longer time.

  1. Returns

The trader who gets the maximum returns is the most desirable person for your copy trading. You can look at their historical performance graph on their account to see their ups and downs. If it increases gradually, it means they can be your strategy provider. However, if they have irregular graphs, you can just look for someone else.

  1. Confident trader

Copy such a strategy provider who trades with their real account and risk their money. They would be less reckless if they put their money on the line. It also shows that they are confident in taking risks and can cakewalk their way through.

  1. No. of followers

Like social media, a trail of followers is necessary here as it would mean that the provider is a trustable source and has been beneficial for many people. The only difference from social media is that the investor benefits from the strategy provider’s win. 

However, you should look for the people on their accounts with real money and see whether they are the majority. You can even learn from their trading practices and strategies.

  1. Level of risk

Copy-trading has a lot of risks involved. However, you need to know that you should not risk losing money from the trade. The last issue you should face is not earning from this. Here, you need to determine the stop signal and whether it is high or low. You should also check if the stop level is set on an opened trade to determine their risk levels. Do not copy a trader with no levels to stop, as this shows unlimited risks involved.

  1. Drawdown 

Drawdown is the difference in account and equity balance, where the account balance is considered above the equity balance. It measures the loss of an account through which you can check the trader’s account and how much loss it has seen. 

This way, you can gauge if you need that trader or not. This greatly helps in differentiating from one trader to another.

Exness

Advantages of Social Trading

When you start social trading with Exness, you have to go to the shared trading platform by the broker. You learn about the broker and his shared trading platform as a social trader. 

Exness social Trading is filled with strategic providers and has copier charts to look for what they want. Exness has made a better, more friendly type of platform. Like every other shared trading platform

  • Exness social trading platform is a platform full of strategy providers where there are ranking tables for the copy traders to find what they find easier. 
  • Exness has also got a little experience from their previous broker, making the shared trading platform way better than you would imagine.
  • The platform is simpler than others, meaning the platform is made so that inexperienced or aspiring investors can use the app easily without any issues. 
  • There is no minimum volume here. On Exness, investors can copy a position till 0.00000000001 lot USD.
  • Exness follows many strategies. Exness has so many active customers, and some of them are experienced traders, so there are many strategies to choose from.
  • The Traders and strategies are high-quality. Exness strategy is very safe and as an amazing trading platform. The trader’s purpose is to trade for their trading. They are professional traders and big traders as well. 

They can deposit a lot. The main purpose of the traders is trading profit rather than selling any ideas or signals. So traders can trade because the income is from work. 

Disadvantages of Social Trading

Investors also reflect with Exness with a different type of issues indifference on the social trading system:

  • You must check the equity balance of the signal provider.
  • You should also monitor the risk management strategy like Stop Loss or take profit.

Exness is also a platform which is a social trading platform that is only for investors. Inexperienced or aspiring investors or those who do not have experience in forex trading. 

Investors should understand the difference between profit and risk. They can create the portfolios on their own when they copy the strategies given by the signal provider.

Conclusion

Social Trading is a future strategy, and all issues related to it can be understood on the app itself. People who benefit from such trading strategies can analyze the copy trader’s account, strategies, and risk ratio. 

If you are not a resident of the US or not even a citizen, Exness is the best website for copy trading. It has a lot of traders, and it also provides deposits and withdrawals. With Exness social trading apps available for Android and iOS, you can copy the trader with a little USD 100.

Now that you know everything about copy trading, you have to open an investor account with a copy trading strategy provider. The best ones among them are – Copy Trading eToro (US and Canada citizens), Copy trading/social trading with Exness, and Copy Trading FXTM (Forex Time)

FAQ – The most asked questions about Exness Social Trading :

Is copy trading safe?

Yes, it is a very safe practice if you trade from a trusted platform.

Do you think copy trading is legal or legit?

Copy trading is legal and legit as well. However, in some countries, the practice is restricted. 

Is copy trading good or bad?

If you select the better strategy provider and the right platform, you can better copy trading.

Can the copy trading get profitable, or do you make money through it?

If you follow the article’s advice, you can make so much profit from it. You have to choose the best trader and learn how to copy trade strategies and earn money without actually doing anything.

How do you copy stock traders?

You must choose an expert in trading whom you can follow easily. You can then copy their trading movements. For example, if a trader buys 100 shares of a stock, you will also buy 100 shares of the same stock. You will do the same if they allocate 5% of the portfolio to a stock sector.

Is it illegal to copy trades?

As far as the US is concerned, there are no laws against copying trading, and even prosecutors have come up with so many theories to explain this phenomenon. To understand this, think about how a CEO would want to know all kinds of information about his shareholders to get the most benefit from it. 
If you think about it, it is not illegal, and it shouldn’t be as the investors and traders should know what’s going on.

Does Exness social trading feature help traders?

Yes, the Exness social trading feature helps traders a great deal. It is the ideal feature for traders seeking help from their community. They can copy the traders’ strategies from their families and friend circles. It allows you to enjoy trading with the strategies of traders with much experience.

How can I create an account as a strategy provider in Exness social trading?

Go to the personal area and click on Exness social trading. Then select create a new strategy and set up the strategy name, description, and password. Afterward, select the account type. Then, set the preferable leverage and commission rate. However, you will get an option to change it later. You will get the account number and server details for your account. Use them once you go to log in to MT4. And you are ready to make a deposit using the payment options.

Which is the best feature of Exness social trading?

Exness social trading is a great feature for traders who are new to trading. With social trading, trading with friends and families becomes possible. Besides, you can copy the trading strategies of the people who you think are great traders.



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Last Updated on January 27, 2023 by Arkady Müller