OctaFX provides traders with a mostly standard MetaTrader and cTrader trading platform. Apart from its European license in Cyprus, OctaFX is unregulated in major jurisdictions, putting it at a significant disadvantage in comparison to other reputable forex brokers.
The commissions and fees charged by OctaFX vary depending on which of the three account types you choose: MT4 Micro, MT5 Pro, or cTrader ECN. Overall, OctaFX finds it difficult to compete with the lowest cost brokers when it comes to pricing.
To be honest, OctaFX may be a popular stock trading platform, but it is also very risky, and if you do not have a good understanding of how to trade, you may end up losing a lot of money. However, OctaFX’s platform has created a number of premium options to make your trading journey easier and one such option includes an option called copy trading.
In this article, we are going to discuss deeply the details of OctaFX copy trading and how you can make money by taking the advantage of this option. If you really want to know more about the same then kindly read this article till the end.
What is OctaFX Copy Trading?
As we all know very well that if you want to earn a lot of money on your savings, then trading is a very good option. But one thing is also true that if you do not have much knowledge about trading, then you may have to lose the amount of your savings. In these situations, if you want to maximize your wealth by trading, then you can use the feature called copy trading.
In the copy trading option, you do not trade yourself, rather you copy the trading done by successful investors and the shares he buys and sells, the shares are automatically added and minus in your portfolio.
In such a situation, whichever trader you follow, if that trader makes money, you make money as well, and if that trader loses money, you lose money as well. If you choose a highly successful trader who is making a good profit then it is quite obvious that you are also making a good profit as well.
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In this situation, that trader will retain a percentage of your profit with himself. This profit percentage varies depending on the successful investor.
The trading platform of OctaFX also provides you with an option of copy trading. If you are completely new in the world of online equity and commodities trading and want to earn money from this platform by doing trading then you can use this option.
However, before using this option, it becomes very important for you to keep in mind that you have to follow some such investors who really have a lot of knowledge about the trading and can grow your income at a good return rate instead of losing it by doing some illegal or unsuccessful trading practices.
Steps to Follow For the OctaFX Copy Trading
Step 1: Download the OctaFX trading application.
Step 2: Register Yourself on this platform via Gmail Id or using other signing up Options.
Step 3: Complete your KYC before looking for other options
Before using copy trading in OctaFX, it is very important for you to know that different options have been provided for both normal trading and copy trading on this platform and you should pay great attention while choosing both options. You can log in using the same common ID to enter into both normal trading and copy trading. Before using copy trading in OctaFX, it is very important to get your Identity KYC done on this platform because if you have not done KYC on this platform then you will be able to add your money easily but will not be able to withdraw your earned money till the KYC process not gets completed. You can easily complete the KYC process by uploading any kind of identity proof on this online trading platform.
Step 4: Add Money for initial Trading on this platform.
Before using the options of Copy Trading, you have to keep in mind very well that you can start trading on this platform initially with $ 25 i.e. around 2000 INR, but if you have a stable amount of budget then here we would like to advise you that you should start trading with at least 100 dollars i.e. Approx 7500 INR so that you can understand this platform in the future and earn money much more easily.
Step 5: Follow Suitable Successful Investor or Multiple Investors and start earning money.
Step 6: Withdraw Money if you have earned enough money on this platform.
Final Conclusion on How to Earn Money From OctaFX Copy Trading
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