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Top 10 Forex Copy Trading in South Africa

A Der Spiegel article is making the rounds today, providing much-needed fodder for market discussion. According to Der Spiegel, the paper claims that the ECB is discussing thresholds for interest rates for each country in the eurozone. This is definitely innovative thinking and falls within the category of being outside the norm. The idea is that intervention would be required if yield spreads exceed a certain level. This is similar to FX intervention by Cbanks. Markets realize that the ECB's promise of transparency in its interventions is a guarantee that yield thresholds will not be ruled out.
OANDA Pros
threshold has the advantage that it creates an aEURoeasymmetric bias within the market
credibility can be damaged if thresholds are not aEURoenotaEUR maintained
allowed to float before September in order to see how much traction they can get in the market
currently supporting EUR and making some EUR shorts nervous in FX
OANDA Cons
The ECB would need to be just as firm in the bond markets as the SNB in EUR/CHF
Bunds in FI have fallen, while Spain's sovereign bond yields have risen
In its eleven-year history, we have witnessed two previous Bitcoin Halvings or Halvenings. Both times the impact on Bitcoin's price was felt. A Bitcoin Halving occurs when the rate at which new Bitcoins is created is halved. This happens approximately every 4 years. The next Bitcoin Halving will likely take place in May 2020. The current economic climate is very different from the one that was experienced during the previous Halving events. What does this mean for Bitcoin's future price? A Halving may seem like a bad thing for Bitcoin miners, but it can have many benefits for investors and traders. This article will explore the potential impacts of the May 2020 Halving event. We'll also discuss how to trade it, and ways to reduce your risk. Let's start by understanding what a Halving looks like and what impact it will have on Bitcoin's price in 2020.
Plus500 Pros
The Halvings can have positive consequences for traders and investors
Bitcoin owners typically feel the positive effects of each Halving as the Bitcoin price tends to rise
Their holdings also generally increase in value
As supply falls, halving events are a positive thing for Bitcoin's demand
The Halvings can be seen as a negative event for Bitcoin miners, particularly if they are taken at face value
Volatility can also be caused by a Halving. This can be a positive or negative thing
Plus500 Cons
Analysts have suggested that other altcoins could be affected by the Halving
Many altcoins were hurt during the bull run of Bitcoin in 2019
Due to the doubled mining cost, there is a risk of Bitcoin going bust
Cryptocurrencies have been gaining in popularity. This is a great opportunity to use cryptocurrencies for your trading portfolio, particularly the ever-popular Bitcoin. This brief memo will explain everything you need to know about Bitcoin: what it is, why it is important, and how to approach it. It's a great time to be a cryptocurrency trader. Bitcoin is experiencing a second Renaissance, with prices rising and strong growth. Here are some pros and cons to consider if you've never traded cryptocurrency before.
OctaFX Pros
It doesn't matter if you buy Bitcoin via crypto exchanges or set up crypto wallets
Bitcoin can be traded on all trading platforms, just like any other currency. Usually, you'll find the pair BTCUSD
The asset's liquidity ensures that transactions are always possible. You can make your money by buying Bitcoin and selling it
Experienced crypto traders will not be surprised by high returns. Bitcoin is known for its rapid price rise, which can make its owners wealthy in a very short time
Bitcoin is not infinite. After the 21,000,000th Bitcoin has been mined, its emission ceases. All transactions will now include existing Bitcoins. This makes it comparable to Gold and other finite commodities. This means that Bitcoin's value could skyrocket if there is demand
OctaFX Cons
Bitcoin is not subject to regulation
Bitcoin is not regulated, much like anarchists dream. This makes it less predictable and stable than other assets
Although volatility can yield high returns, it can also mean that the price of your product can fluctuate against you
Bitcoin's greatest risk is its eventual demise. While Bitcoin can provide advantages that no other payment method offers, at the moment, this can only be temporary
There might be a rapid drop in the price of Bitcoin once there is an alternative. The market will eventually become obsolete due to falling demand and liquidity
If you have Bitcoin in your possession, you cannot cancel the transaction after it has been made. This means that if you accidentally transfer funds to a fraudulent source or make a mistake, you will not be able to get them back
HotForex (HF Markets Europe) has an enhanced MetaTrader offering, quality research and a copy trading platform. HFcopy offers a decent selection, over 1,000 CFDs, and 47 forex pairs. HotForex's trading costs are still slightly higher than the industry average. The HF mobile app doesn't yet support trading.
HotForex Pros
FX Blue Labs has developed Premium Trader Tools that enhance the default MetaTrader suite.
HotForex is able to balance in-house market analysis with third-party research content and news.
Special research reports are produced by an in-house team, including quarterly, annual, and monthly outlooks.
HotForex's Traders Board module offers sentiment and correlation data.
HotForex Cons
HotForex's educational content is lacking in quality, despite a good selection of videos.
All account types have trading costs slightly higher than the industry average.
HotForex's copy trading platform HFcopy requires 300 EUR to follow existing strategies (copy). It is less mature than eToro’s offering.
Although the HF app has been improved, trading is not allowed. HotForex traders can only use MetaTrader.
What are the pros and cons of day trading vs scaling? Traders often struggle to decide which trading strategy is best for them during high volatility periods. While it may be difficult to decide which trading style is best for you, there are some advantages to day trading and scalping during times of uncertainty.
Pepperstone Pros
the most popular trading strategy
making huge profits
relatively small price fluctuations
1-5 or 15-minute charts
Pepperstone Cons
wait for support/resistance levels
traders tend to open and close fewer positions per day than scalpers
tend to focus more on longer timeframe trends
15-minute, 1-hour and 4-hour charts
MT5, also known as the MT5 Platform, was launched in 2010 by MetaQuotes software Corp. It is a multi-asset online trading platform that offers enhanced real-time charting capabilities, and a variety of additional functions. MT5 also uses a different programming language than MT4: MQL5. MT5's platform allows you to adopt hedging strategies. This allows for the synchronised opening and closing of multiple positions, primarily in order to reduce risk. This function is used frequently by Forex traders.
FP Markets Pros
MT5 offers a wide range of powerful analytical tools, including 38 technical indicators that allow simultaneous display of up 100 stock quotes charts and currencies
MT 5 integrates tools to perform full fundamental analysis including an economic calendar
Market Depth, or Depth of Market [DOM], is another advantage to MT5, which displays active Bids/Offers in the market
MT5 users have access to many more tools than MT4
Programmers can also get many free tools
You can make your own tools if you have programming experience
MT5 supports netting and hedging options
There are four order execution operations available: Instant' Request', Market', and Exchange' execution
The platform supports various trade orders, including 'Market' (pending), 'Stop Orders’ and 'Trailing Stop Orders’
Algorithmic trading (copy trading), is one of the best features of your MT5
MT5 offers a fully integrated development environment, which allows traders to quickly build and refine their trading strategies using robots
The powerful MQL5 programming language allows traders to evaluate quotes and execute trades according to the underlying algorithm
You can also choose from pre-configured trading software if you're not a programmer
Mobile trading with MT5 allows traders to trade Forex, stocks and futures from anywhere and at any time
You can now carry the MT5 trading platform's vast capabilities in your pocket
MT5 Mobile offers many trading options and facilities, including netting and hedging
The app provides professional technical analysis via a set of built-in indicators and analytical items
MT5 Mobile allows you to quickly review your transactions, purchase and sell currencies, and swap assets in one click
FP Markets Cons
For traders who have limited trading experience, some of these advanced tools can be daunting
These languages do not have backward compatibility
This means that programs written for MT4 won't work on MT5
Investors may find this a problem
MT5 can be used to trade a wider range of financial instruments including Forex, CFDs, contract for differences, futures, and cryptos
It offers a greater range of features, which may not be applicable to all traders
MT4 remains the preferred choice of brokerage firms offering Forex and CFD trading
CDFs can be described as "contracts of Difference." You don't have the underlying assets, such as shares or commodities, when you trade CFDs. CFDs require large capital to trade. CFDs can be traded, but you are only speculating about their price movements. Start small and leverage the power of leverage.
ForexTime Pros
Rapid registration and verification of accounts
Lower/tight spreads
Based on your knowledge and experience, flexible leverage may increase
Orders executed quickly
Suitable for people who do not pay or accept interest
FXTM offers flexible leverage, which will give you the competitive edge that you want
Our flexible leverage gives you the competitive edge that you need
ForexTime Cons

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As mentioned above, scalping is a game that requires winning. Scalping is different from other trading styles that can have a win/loss ratio less than 50% but still make money after a series trades. Because of the smaller profits on winning trades, it requires consistency winning. A day trader may be wrong 40% of the time but the win is at least 2 to 1. This is called risk/reward, and it is an important aspect of trading. Scalping is a risky business. Traders generally make less than they risk when scalping. A $100 trade with a $200 position risk would net a $100 profit. These wins are far more important than losses due to a high win percentage. Scalping may not be the right trading style for you if you don't like this high winning requirement. Like all trading methods, money management rules must be followed. This is regardless of your trading method or style, and you will fail.
IC Markets Pros
Lower risk exposure
There is less time in the market, which reduces the chance of major market events
Scalpers seek smaller moves than swing trading which aims to capture bigger market movements
A scalper can make small profits even in quiet markets
A trading account can be quickly compounded by scalers
This category allows traders to focus on technical analysis but should also be aware of any macroeconomic events that are scheduled for release
IC Markets Cons
This is not the right choice for people who have full-time commitments
You are forced to trade liquid currency pairs with tight spreads
Scalpers will find the EUR/USD, GBP/USD, and AUD/USD to be ideal choices because they have high trade volumes and low spreads
Scalping takes a lot of concentration
For traders, this can sometimes prove difficult to maintain over extended periods
Trade precision - limited room for error
For traders who miss larger moves in the market, small gains can be very debilitating, even though they are profitable
These commissions can be very costly
It is important to choose currency pairs that have tight spreads
Forex trading appears to be a difficult task. You may not need to trade on foreign exchange markets to make a profit. Since long, copy trading has been available on the market. This is a way to automatically copy successful traders' transactions into an account. Simply connect to the service and select an account you wish to copy to make profit. Copy trading refers to an automated trading system where transactions are copied from one account into another. How is this possible? You can copy transactions from special platforms. Once you have registered on such a platform, you can choose a provider of signals to subscribe to his trading signals. Once the trader has completed his transactions, they are automatically replicated in you trading account.
Justforex Pros
Earnings without any knowledge
Transactions can bring you profit, regardless of your skill level
Trades are performed by professional traders
Trading style. You can choose the signals provider that suits your trading style
Enjoy more time. It is not necessary to spend much time watching the market
You can choose as many signal providers as you like
This allows you to diversify your risks
This helps to minimize losses and ensures that you don't lose all your money at once
You can hedge a losing deal with another one that is profitable
The profit is smaller but the risk of losing all the money goes down
Justforex Cons
High risk
Forex can be ambiguous and unpredictable
Even though the trades are profitable, signals providers can make mistakes and turn minus
Copy trading is risky
Professional degradation
Copying someone else's deal can cause you to lose your unique flair
You don't pay attention to the market, you don't learn from your mistakes, and you avoid technical and fundamental analysis
As the muscles are not exercised, the brain can relax without new knowledges
Always turn on the trading platform/terminal
After choosing the right broker, one of the most important decisions that you will need to make in order to become a trader is choosing the right kind of trading account. This is similar to buying a car. A Hummer may not be the best option if you are looking for something cost-effective and simple to use. If a learner is in a Ferrari, they will most likely crash within the first week. However, starting conservatively and getting guidance from professionals can open up new opportunities. The right account type can also make your first few weeks or months of trading easier. Trading can be made enjoyable by having the right account. We will help you navigate the trading platforms and answer any questions. Check out the following trading accounts to find one that suits your needs and goals.
The Exness Pros
Initial investment is small
Unlimited leverage available
Zero commissions on trading
Smaller lot size
Hedging Margin 0%
The Exness Cons
No demo account available
Execution is instantaneous
There is no bonus
Limit of 5 account currencies

Copy trading can make you money

Copy trading is like any other investment. You can either make or lose money. Copy trading allows you to assess the profitability of each trader before you choose which signal provider to follow. Market adage says, “Past performance does not necessarily predict future results.” Copy trading can be risky and many traders lose their money. Do not invest more than you can afford to lose. Start small and research thoroughly before you commit to a strategy.

How can I find the best forex trading system for copy trades?

It is not always the most profitable trading system that you can copy. It is important to match your risk-parameters with investment goals. A system that has a lower average loss per trade may be preferred by a conservative investor over one that makes a higher average profit. A more aggressive investor might choose a strategy with higher volatility. This means greater risk of losing your money.

Modern copy trading platforms often have hundreds, if not thousands, of signal providers. It can be confusing for traders to choose which signal provider to follow. It is important to research and only invest a small amount. Never risk more than you can afford to lose.

Copy trading is a good idea?

Active account management is required for copy trading. Copy trading is self-directed and not like passive investments or investment funds that are set-it-and-forget-it. Only you can decide if copy trading is a good idea or not and whether it should be part of your portfolio. Copy trading, if done correctly, can help diversify your portfolio. The best copy trade brokers provide the most tools.

How can you copy a trade.

To narrow down the traders and strategies you want to copy, first use the platform’s filters. Next, compare strategies side-by-side to examine historical returns and performance. Next, enter the amount you are willing and able to risk and then initiate the copy trade.

Copy trade tip 1 – It’s important that you look at performance statistics for every system. This includes the maximum draw down, risk taken, average trade size, duration and frequency.

Copy trade tip 2 – Some investors choose more than one strategy. However, having sufficient capital and the ability to select the right risk parameters are essential when copy trading forex strategies. Copy trading is risky. Do not invest more than you can afford to lose.

Is copy trading really possible?

Social trading or copy trading in financial markets is a practice that has been around for more than a decade. It works when you select a trusted broker. However, this doesn’t guarantee success. Copy trading isn’t a quick and easy strategy. It can take a lot of effort and time.

Although copy trading may seem appealing when you see the top performing traders’ results, it can be difficult to replicate these results in your account. There are many tools that can be used to analyze traders and manage risk. Database biases can also play a role. For example, recency bias can cause you to follow the trader who is currently performing well, which may not be the best option. Strategy drift is a strategy that a trader departs from past performance and can lead investors astray.