Mirror trading is possible in Exness. Social trading is recommended for those who find it difficult to win in Forex, or who are busy with work and have no time to trade. With social trading, a good trader will make money for you.
- What is social trade?
- Social trading account types
- investors and strategy providers
- Social trading risks
- How to do social trading
- start copying
- Stop copying
What is social trade?
Social trading, also called “copy trade”, refers to copying the trades of individual traders who have published their trades and doing the same trades in their own position trades. Copy trading costs a fee, but there are many attractions. Social trading has the following features:
for busy people
It is very suitable for people who usually do not have time to look at charts, such as office workers. This is because the trader trades for you, so you earn money instead. Even if you have little knowledge about Forex, you can trade Forex, so you can refer to the trading strategies of professional traders.
Even beginners can win
With copy trading, you can copy the trades of professional traders without knowledge of Forex trading, so you can use it without knowledge of Forex, and it has the advantage that even beginners can easily start. It has the advantage that even beginners can win. When you do discretionary trading, you have to analyze price movements yourself.
Dealing with irregular market
Copy trading has the advantage of being able to handle irregular market conditions. If the market fluctuates due to economic news, etc., there is a risk of loss. However, professional traders can sense it, so they have the advantage of reducing losses.
Learn to trade like a pro trader
Copy trading is attractive because it reflects the trading of professional traders as it is. Therefore, you can refer to the trading strategies of professional traders, etc., and it will lead to seeing the know-how of Forex trading. See the trading decisions of real professional traders through your trades. Intermediate players should be able to learn a lot by actually watching advanced trades.
Social trading account types
You can choose between two social trading account types: MT4 Social Pro and MT4 Social Standard. Social Standard trades under almost the same conditions as the Standard account. Social Pro trades under the same conditions as a professional account.
|Social Standard||Social Pro|
|Order||market order||Market order, instant order|
|Spread||Standard Account||Pro Account|
|Leverage||50 or 100 or 200||50 or 100 or 200|
investors and strategy providers
There are two positions in social trading: investors and strategy providers.
Investors do not trade on their own. Investors become followers who copy the strategy provider’s trades. Investors choose a good strategy provider to copy their trades and grow their funds.
Strategy providers are followed by investors and can not only make profits from trading, but also receive success fees from investors who copy their trades. It becomes our duty to make trades profitable and ensure that both investors and strategy providers win.
Social trading risks
On the other hand, social trading also has risks. Please understand the following points before proceeding.
Social trading is not a system that guarantees a 100% win. It’s just that the probability of winning increases because a skilled trader is doing it, but it doesn’t necessarily mean that you will win. Sometimes it may be negative, and there is also a risk of full deficit, so please understand that before participating.
Trading doesn’t improve
Social trading is, so to speak, trading in which you are entrusted to others. By referring to the trades of experienced traders, you can make a profit, but on the contrary, you will not improve yourself at all. For those who cannot earn money on their own, the problem arises that they have to rely on skilled traders all the time.
There is a fee
Professional traders called strategy providers set their fees on Exness. Therefore it is not 0%. Please note that if you make a profit, a few percent of it will be taken by the trader. The system is such that it is not possible to collect all profits. Exness allows you to set commissions from 5% to 50%.
How to do social trading
I will explain how to do social trading with Exness. The account prepared for Exness needs to prepare an account dedicated to social trading, unlike a normal account. Please download the app.
Download the app and set the following. Once everything is set up, the Exness social trading app is ready to use.
- Select country of residence
- Email address settings
- password setting
- Set a passcode for login
When you do social trading, you start from where you deposit. You can select the service you want to use and make a deposit. If you select each, enter the amount and tap Confirm to display the confirmation screen. If there is no mistake, tap “Confirm”.
|Deposit method||MIN fee||commission||reflect|
|Bank Transfer||10$||free||24 Hour|
Copying will start from here. Look at the risk score, return, fee, number of investors, etc. and choose the copy destination. Once you’ve selected the traders you want to copy, tap “Start Copying”. Then, the investment amount input screen will be displayed, so please decide the investment amount. When the following screen is displayed, it is completed.
|Return||Indicates high profit margin|
|Risk Score||The higher the level, the higher the risk of losing all your funds in a short period of time.|
|Invertors||Represents the number of investors who are copying the strategy|
|Provider||Nationality of strategic provider|
To stop copying, tap “Stop Copying” in the center of the strategy page. A pop-up will appear, so tap “Stop copying” here as well.