Copytrading has been gaining popularity over the last few years, due to the increase in the popularity of forex trading. A number of platforms now offer copytrading features to encourage more traders to sign up on their platform.
But, choosing the best one can be a difficult job. One way to choose is to study and pick from the platform reviews.
We review the FBS copytrading service for Malaysian clientele.
What is FBS copy trade review Copytrading?
What exactly is copytrading? In simple terms, copytrading is a system that permits the client to choose traders and replicate their trading movements. In general, the best traders will possess more knowledge, a higher success rate, and profits. If your chosen traders open an account it will be copied to their position. The same happens the moment they end their positions.
Copytrading opens the way for trades that are passive, where you select only the best trader in order to “let them trade for you”. The benefit is spending less time researching and having access to trades made by experts.
However, which platform offers high-quality copytrading capabilities?
You may have seen eToro as a copytrading platform, but there’s a new option on the market called FBS CopyTrade. It’s an application-based Social and Copy Trading platform which allows customers to make trades on the financial market.
FBS Features
FBS provides online trading on various asset classes ranging from forex (forex) as well as CFD-related instruments. Apart from that, here’s the features you can expect from FBS:
- Support MetaTrader 4 and MetaTrader 5
- Multiterminal, you can manage several accounts from the same manager account
- Mobile trading platform for iOS as well as Android (FBS Trader)
- FBS Copytrade
- Tools for trading
- Virtual Private Server (VPS)
- Calendar of economics
- Currency converter
- News
- FBS Education
As you can see that the list is thorough, which is the reason FBS is among the most popular brokerages in the market. What do you think is it the features for copytrading within FBS? Are they secure?
FBS Copytrading Sign-Up Tutorial
What will I have to do in order to set up FBS Copy trading?
#1 Install the FBS applications for either your iOS as well as Android devices.
#2: Sign-up and create your account. Click on “Register as Trader”.
#3: Confirm your email address.
#4: Once you’re there you’ll be redirected 4: You will be redirected to FBS and you will be able to pay an amount of minimum ($100 (or RM420) for copytrading with Cent Account.
Pros and Cons of FBS Copytrading
From FBS copytrading capabilities, anyone can either make copies or offer signals to other sources. Here are the advantages and disadvantages of using this system:
Pros
- FBS has their own exclusive copytrading process, which is why that it is not outsourced to any other company.
- 5percent commission when another person copies your trade
- Reputable brand indicates that there are lots of traders that use FBS platform
- FBS provides metrics and stats for each trader in order to build their own profile of trading
- Simple registration process via smartphone or tablet
Cons
- No group or social trading features.
- The sheer number of traders create a challenge to select the best trader to copy.
- There is a limited number of assets accessible through copytrade
FBS has more than 15 million customers across more than 190 nations. This has its advantages and disadvantages in the search for the most reliable traders to copy.
Which account could be employed to copytrade or give a signal to FBS accounts?
There are several choices to pick from in FBS. But which is the best for copytrading?
Depends.
If you have previous knowledge of trading and an enormous desire for returns and risk You can select ECN Account that is the most prestigious option that is offered by FBS.
ECN account: Spreads are low starting at 1 pip. Commission fee of as little as USD6 and a maximal leverage 1:500. You must have a minimum of USD1000 in order to open an account.
If you’re not experienced in copytrading but want to explore it It is strongly advised to start by using Cent Account.
Cent AccountMinimum quantity required only USD1 , and you can gain leverage as high as 1:1000. However, the commission charge is higher than other accounts. If you’re not a frequent user, you can make use of an account for cents to test the features offered by FBS.
Other types of accounts comprise:
Micro-Account: Minimum amount needed is USD5 and spread begins at 3 pips. Leverage offered is 1:300.
Standard accounts:The most popular type of account available in FBS. The minimum amount is USD100 and spreads start at 0.5 pip. You can also avail leverage up to 1:300.
Zero spread accounts: Minimum amount needed is USD500 and spread is set at 0 pips. It is however, slightly more expensive, with commissions of $20 for each lot. Additionally, you can get leverage of up to 1300.
How Do I Start Copytrading?
It’s relatively easy to start copytrading other people through the system. However, because FBS doesn’t offer an online or desktop platform, you have to make the trades on your smartphone or tablet.
The first step is to make a deposit into the FBS account, as described earlier. Once you’re completed with the process go to the FBS application you downloaded previously.
Open the Traders List. From there, you can utilize the filtering and sorting tools to locate traders with the highest performance or risk profile you feel comfortable with.
Filter options comprise:
- Return
- The number of copiers
- Activity
- Risk level
- Country
Be aware that You can also pick only active or PRO traders as part of the filtering process..
From this point, you are able to determine which is the best trader to duplicate from.
Click Start Copying.
Enter the amount you wish to put into the trader.
You are able to select the stop-loss you want to take and earn profits points.
Stop loss:
The moment at which your investment is automatically liquidated to stop any further losses.
Profit:
The moment at which your position will be automatically liquidated for you to earn real profits in lieu of “paper profit”.
Utilizing stop loss and taking profits is highly recommended since it will protect you from having to take on risk that you’re not comfortable with. This also makes sure that not any money is lost if you’re in a risky trading situation.
Key Takeaways
FBS is among the most reliable companies in the world of forex. As an aside FBS is the primary sponsor for Barcelona football team, and this demonstrates the repute that FBS enjoys.
In addition to having a broad system, copytrading options that are offered by FBS can be beneficial for those who trade passively. Particularly for people who prefer making use of their phones in order to make trades instead of a desktop.
Overall, FBS is one of the most user-friendly copytrading platforms. It is highly recommended for new and experienced copytraders.
What do you think about copytrading on FBS? Tell us your thoughts and sign up to our platform to be updated with new content similar to this!