XTB copy trading is the practice of copy trading. This allows traders who do not have much expertise in the forex market to copy trading positions. So specifically, what is the copy trade feature? Can users perform XTB copy trading? Let’s find out details about XForex through the article below.

XTB review about copy trading on the Forex exchange

True to its name, copy trading activity, also known as copy trade. Refers to replicating trades from another investor (pro trader or master). This helps you build a portfolio identical to theirs.

If you decide to copy trades from a reputable and experienced investor, you can reap attractive profits without having to spend a lot of time and effort researching the market. However, if you copy from poor traders, the risk of losing money is also easy.

Therefore, if you want to invest according to an expert, you must clearly understand information about them. Understand their trading ability and changes in their account over time (drawdown). Based on that, you can make more informed assessments and investment decisions.

Some benefits and risks encountered when performing copy trade

Investors can solve the following three “no” problems by participating in the foreign exchange market through copy trading:

• No knowledge required: Copy trading is very simple, easy to understand, and implement. Therefore, new participants do not need to worry about having extensive knowledge to participate. The basic condition is that you need to understand the market, capital management, and how to use the platform.
• No experience needed: Experience requirements are not high. The people you copy from are usually trading experts, and their experience will help you make money.
• Doesn’t require much time: Copy trading is an ideal choice for busy people who don’t have much time to trade themselves.

Copy trading brings many benefits to traders, but also has potential risks:

• Market risk: The Forex market is always volatile and no one can predict 100%. Even if you copy from good traders, you will still face the unpredictability of the market.
• Risks when choosing a master account: The daily appearance of many master accounts makes this complicated. There are reputable accounts but there are also scams. The choice depends on luck, judgment, and knowledge of the master’s profile.
• Risks from the exchange: Please check the exchange carefully before participating or choosing reputable exchanges with a long history.

>>>See more: Instructions on XTB open account steps quickly

Is XTB copy trading supported?

Can traders perform XTB copy trading? 

Currently, the XTB exchange does not support XTB copy trading. This can also be considered a disadvantage of the exchange. However, users can perform other transactions on XTB tradingview such as:  

• Place orders: On the XTB platform, you can place different types of orders. Such as market orders, limit orders, stop-loss orders, and many other types of orders. You just need to select the order you want and fill in specific information about the price and transaction amount.
• Portfolio and risk management: Always manage your portfolio and ensure you understand the level of risk you are taking. Consider using protective tools like stop-loss to limit losses. At the same time, you need to monitor the market regularly.
• Monitor and adjust: Monitor the evolution of your trades and adjust your strategy if necessary to reflect changes in the market.

Why doesn’t XTB support copy trade?

There are several reasons that XTB may decide not to support copy trading:

• Business strategy: The business model of each exchange may be different. Some brokers focus on providing live trading tools and services, while others may focus on other trading models such as ECN (Electronic Affiliate Network). The exchange may not support copy trading if they do not want to focus on this feature.
• Costs and risks: Providing copy trading requires the exchange to manage procedures and manage risks. Ensure the trustworthiness of the person who will copy the trades and the person providing learnable strategies. This can create a cost and liability for the exchange.
• Other Priorities: Exchanges may decide to prioritize other features and services that they consider more important to their customers.

What are the forex exchanges that support copy trade other than XTB?

Advantages of Exness compared to XTB exchange with copy trade feature

• If you lack trading knowledge and experience and want to limit your risks, Exness copy trade is a great solution. Most importantly, this feature allows beginners to make profits while increasing their trading knowledge and confidence.
• In addition, copy trading also saves time for even new traders. Even people who don’t have time can still make money without regular monitoring.
• With Exness copy trade, you can choose a trader that suits your desired risk level and your trading style.
• If you find an excellent and professional trader, don’t hesitate, your passive income can increase significantly.

Highlights of ICMarkets compared to XTB forex when supporting copy trade

Although there is no separate copy trading platform. However, traders at ICMarkets still can copy trades directly. On platforms like MT4, MT5, and cTrader. Some benefits when performing copy trading on ICMarkets:

• With cTrader Copy’s advanced platform, investors will enjoy simple and clear copy trading services. Provides availability, flexibility, and control. 
• User-friendly interface makes it easy to stop copying any time you want. 
• Order execution is fast and there doesn’t seem to be any delay between the signals from the original account and the copied account.

Conclude

So, through the above article, you must have clearly understood what Copy trading on the forex exchange is. As well as being able to correct the lack of support from XTB copy trading. In addition, XM Trading has also provided readers with information on reputable and effective copy-trading support platforms. You can completely consider the direction. And reduce the risk somewhat when you have mastered the rules to keep in mind with copy trading. Wishing you a successful transaction with your chosen goal!

>>>See more: Find out the latest information about the XTB Trading

FAQ

Does XTB have a copy trading feature?

The copy trading feature is not supported on XTB forex. If you are interested in this feature, you can refer to other exchanges such as: Exness, ICMarkets, XM,…

Is copy trading safe?

In essence, Copy trade is considered a safe method. Because it is simply copying trading orders from investors in the market. This makes copy trading a reliable option for passive income. Especially for individuals with limited experience and financial knowledge.

However, as with any trading method, there are risks involved. Don’t completely depend on a professional. You need to be wary of scams.

Reputable copy trading exchanges?

There are several reputable brokers that provide reliable copy trade platforms with many advantages. These include Exness, XM, FBS, and many others.