What is a copy trader?

Copier – often referred to as a subscriber or follower, a trader who is copying or following other trades. “The goal of this person is to have similar trading positions as the provider”, says Yahoo Finance. Copy trading is valuable for novice traders that lack time to create custom trading strategies or perform extensive research.

How to get into copy trading?

They are well recognized as a giant of both copy, and social trading. Even so, most top brokers can be connected with a copy trading service which will allow you to get into copy trading. With copy trading, what you are essentially doing is investing in the growth of a particular trader, or traders, who you decide to copy.

What is a copy trading platform?

Bybit is a centralized exchange (CEX) that recently launched their copy trading feature. A platform for social trading. In addition to copy trading tools, eToro allows for community discussion, which helps traders to learn from the traders they copy. A platform for bot trading, offering crypto trading robots that allow you to choose your strategy.

Is copy trading a fixed system?

A fixed system comes with a number of restrictions. Copy trading requires a powerful trading platform, such as MT4 and MT5. Therefore, traders should first open trading accounts with brokerage firms that possess the right trading tools, financial instruments, and technology.