How to use copy trading?
Copy Trading is a tool developed for those who want to trade and earn without any trading experience or knowledge.
How does Copy Trading work?
Experienced traders trade on Bidsbee and accumulate statistics of their trades that prove that they are efficient. After the required statistical data is collected, and if it demonstrates that the trader can be useful to the community, the trader’s profile becomes available for subscribing.
There is a list of such traders. You can view their profiles, have a look at their statistics on their traders, and pick those whom you want to follow.
To start copying a trader, you need to do the following:
- Pick the trader whose strategies you want to follow
- Buy a subscription to the trader.
- Activate the Copy Trading option and set up its parameters.
Once you pick a trader and subscribe to them, their orders will automatically be copied into your account.
Note please that to start using the Copy Trading functionality, you have to make sure that:
- You shall have an account on the same exchange the selected trader uses.
- Your funds shall be kept in the same currency the selected trader uses. The currency can be checked in the trader’s profile.
- Your balance shall be at least $100 or equivalent. The minimum transaction is limited to $50, the maximum is not limited.
These details are important to consider. Otherwise, your orders on the exchange may be blocked as erroneous.
Note, please, that you can copy as many traders on as many exchanges as you wish for spot trading, but for futures trading, you can copy orders of one trader only and only on one exchange.