Copy trading is becoming an increasingly popular way for people to jointly invest in the financial markets. When starting your journey, make sure that you choose a platform like GateTrade as it enables those who are less experienced with trading to follow the signals of professional traders. Read this GateTrade review to learn more about what this platform offers and who it is suitable for.
What You Need to Know about this Platform
When you subscribe to a trader on this copy trading platform, all of their trades and orders on their trading account will be automatically replicated on your account at a predetermined ratio.GateTrade is known for having one of the most advanced and extensive social trading networks available. It stands out due to its low minimum requirements for entry, favorable trading conditions, excellent features, and ease of use.
Should Novice Traders Use it
Novice traders who are interested in taking advantage of the opportunities offered by the financial markets, but who may not have the time or resources to invest in years of study and practical experience, can benefit from copy trading on this platform. This is because GateTrade allows them to follow the trades of more experienced professionals and potentially earn profits without the need to have a deep understanding of the markets themselves.
Copy trading on this platform can also be beneficial for experienced traders who are looking to gain recognition in the market and earn additional income through special programs offered by the broker. By allowing other traders to follow their signals, they can potentially increase their own trading activity and profits while also building a reputation as a successful trader.
How to Start Copy Trading on this Platform
To start copy trading on this platform, simply navigate to the trading option in the menu on the screen. On the main page, you will find profiles of the most successful traders as selected by the GateTrade’s editorial team and algorithms based on various indicators. From there, you can choose a trader to follow and set your copy trading ratio.
This platform has a social media-like appearance and functionality, with each trader having a profile featuring a photo. When you click on a trader’s profile, you can see their first and last name (verification of trader’s data is required), view their posts, and interact with them by commenting, sharing and liking on their posts, similar to how you would on a traditional social media platform.
Traders often share market news, but may also post personal photos and videos. The platform’s interface and features make it easy for users to connect with and learn from other traders.
Trading Made Quick and Easy
If you don’t want to spend a lot of time researching the portfolios of different traders on this platform, you can opt to subscribe to an investment portfolio instead. This will allow you to automatically copy a variety of instruments and traders to your account all at once.
However, please note that this option is only available to clients with a higher starting investment, as the minimum required amount can be slightly high. The process for selecting and subscribing to portfolios is similar to that of selecting individual traders, with options to filter by performance, risk score, and other criteria.
Can You Make Decent Profits on this Platform?
Many investors view copy trading on GateTradeas a way to generate additional income. While it is possible to earn money through this method if the traders you follow are successful, it is important to note that past performance cannot always be relied on.
Even professional traders and large hedge funds can experience losses, so it is advisable to only allocate funds that you are comfortable with potentially losing when engaging in copy trading on GateTrade. Make sure you take the time to become familiar with this platform before you start trading to steer clear from potential hassles.