Copy trading becomes interesting features offered by brokers. Some brokers provide the access for traders to copy the trades and strategies of other traders. Usually, it is dedicated for novice or new traders although it does not mean that the more experienced traders cannot use the copy trading as their method of investment. In this case, there will be signal providers and professional traders with good achievement so later the other traders can copy the strategies and approach in opening positions and doing the trades. Although it is a form of copying trading, it does not mean that trader will lose the control of their action because they only copy the strategies and they can have their own risk managements.
Related to the copy trading, there are some copy trading platforms that can become good recommendation. This is type of social trading where the implementation can also involve the pamm account and other types of trading. As for the first recommendation, there is AvaTrade. This becomes one of the most popular and reliable brokers related to the copy trading and social trading. Its services are great so it is recommended for traders who want to use the service or feature in the copy trading platform. One of its great reasons is the cooperation of AvaTrade. In fact, the broker and its copy trading platform work together with other platforms, including MQL5, ZuluTrade, and also DupliTrade. By having a nice cooperation, there are more investors and signal providers so traders can have more options to start the copy trading. Even, the platform provides ranking of signal providers and more information to help the traders. In term safety and its regulation, AvaTrade is regulated by many regulators including British Virgin Islands Financial Commission, FRSA, ASIC, and also the Central Bank of Ireland.
Next, there is RoboForex. This is also great choice of platform for copy trading. It has great global recognition and ranking as one of the reliable brokers. As for its copy trading features, RoboForex provides access for traders where they can determine the preferred functions in utilizing the copy trading. Later, they can set the parameters so it will be more convenient to see the trades and strategies that should be copied. Moreover, RoboForex provides the traders with the Traders Rating. It helps traders to find most reliable traders that will be copied and the ranking shows details of the instrument preferences and other reasons that make the traders get the position in the rank.
In addition to the those brokers, there is OANDA as recommended brokers in case traders want to get involved in trading actively without using the copy trading feature. Traders can check the oanda review to get the reference. OANDA is actually acronym of Olsen and Associates. The broker is registered and headquartered in USA and it was found in 1996. Then, it is regulated by UK Financial Conduct Authority or FCA, ASIC, and other regulators. Even, OANDA has won some awards, such as Best Forex Trading Technologies, and Best Trading Platform. These all show great reliability and traders do not need to worry about safety issues. To start trading in OANDA, traders actually can start depositing from $1 and it offers many options of trading instrument.