IC Markets Copy Trading - Following Traders And Copying Their Strategies
IC Markets describes itself as a 'True ECN' broker. If offers high speed order execution without restricting trading styles. Thus IC Market can be suited to traders who use automated trading strategies (online trading robots). However IC Markets can be used by all traders, including those who make their own trading decisions. It offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader and TradingView. Some traders though may want to copy the trades of other traders, for example to let more experienced traders trade for them, or simply to use this strategy. When copy trading, the trader typically follows a strategy or system designed by another trader. This allows the trades of the system to be copied directly into the trader's own account.
If the system performs well, then the trader's copied trades will perform well but conversely if the system performs badly, the copied trades will perform badly as well. For this reason, the trader may wish to view copy trading as part of a toolbox of techniques to trade complex markets. The advantage of performing analysis and executing trades means that the trader has a measure of control over the trades, depending on how they use and implement trading rules. When using a robot to trade on their behalf, the trader gives control to the trader, but the robot is implementing rules explicitly or implicitly chosen by the trader. For this reason, the trader may wish to understand what it is a robot is doing and why, and even program them (which is possible at IC Markets). For example, the trader could choose or program an MT4 EA (robot) to implement a strategy the trader has being using, but which they wish to use at a time inconvenient for them, or at a frequency that they may find hard to maintain.
For those who want to copy the trades of others, IC Markets does in fact support copy trading via dedicated platforms. It offers firstly Myfxbook Auto Trade. This allows traders to copy trades onto their IC Markets's MT4 account. To use it, the trader connects their account with Auto Trade and then chooses a strategy to follow. The systems to follow are hand picked and the best performing systems are shown.
IC Markets also supports ZuluTrade. ZuluTrade has many traders and ranks them. The trader follows a particular strategy (based for example on performance results and other factors) and the trades are copied into the traders account. Because a traders or system or strategy performed well in the past, does not mean it will continue to perform well in the future.
IC Markets also offers IC Social. This platform allows the trade to copy the traders of other traders. There is also social trading functionality, allowing the trader to chat with other traders. Copy trading is also available via MetaTrader and cTrader Copy. IC Markets also provides Signal Start, which lets traders copy the signals of other traders.
To use these platforms, the trader can first sign up with IC Markets via the link below. Then they can follow instructions to add IC Social, AutoTrade and ZuluTrade if they wish to do so. Signing up with IC Markets gives the trader access to MT4, MT4, TradingView and cTrader, and 2500+ markets to trade (on MT5).
