A common reason people are afraid to try new things is because they believe they don’t have the right skills. Copy trading is an excellent option for novice and inexperienced traders. This allows you to take things slowly to get started and then learn how to trade correctly. You can learn Forex trading in South Africa and also earn. This can help you gain confidence by being able to profit by following the guidance of experts from the start of your trading career. It means that you will be guided by Forex traders who are experienced and knowledgeable through every trade you make.
Copy trading may be the best way to learn if you’re just starting out in trading. You don’t have to invest your time learning about the markets. Instead, you can copy the success stories of others.
High profits can be made from copy trading in South Africa if the trader locates a successful trader. Copy trading presents traders with the most risk. The trader could lose money if the strategy they are copying fails. If the instruments they trade experience volatile conditions, traders may also be exposed to liquidity risk. A trader can also be exposed to systematic risk if the product is experiencing sharp declines and rallies.
It is easy to set-up your copy trading. Click COPY, select the user you want to copy, and enter the amount. The positions will be duplicated in real-time and proportionally. You can copy any user at any time.
Yes, copy-trading is legal in South Africa if your broker is properly regulated by either Commodity Futures Trading Commission or Securities and Exchange Commission for stocks.
To start copy trading in South Africa, you don’t have to invest a minimum amount. Even though you may find your opportunities limited, it is possible to start with $100.
Start with a small amount. You may want to reduce the number of signal providers you choose to use, since you will exhaust your margin quickly. Some signal providers require that you invest a minimum amount in order to ensure that the trades go through.
Top Copy Trading Platforms for South Africa
Your existing trader can be replaced at any time. However, you will still need a separate Invest Account for each trader that you choose to follow. The copy trading function is free of charge, except for the fees you pay to the Strategy Manager when they make profits.