Admirals launched its copy trading service in May 2021, and so far, the feature has proven to be a popular addition amongst its clients.
The firm has always emphasised inclusiveness and views copy trading as a natural extension of its community and social network.
Copy trading is like a type of automated trading, where positions get copied from the signal provider’s trading account to the subscriber’s trading account.
Copy trading is straightforward for both ends of the trading process. Subscribers select their investment amount, choose a trader or traders to follow.
Then the copy trading platform and software will replicate all the selected trader’s positions directly through your trading account. The world-class MetaTrader platforms offer copy trading functionality.
- If you’re a time-poor trader looking to hook up with a more experienced trader with a proven track record, then copy trading could be for you.
- If you’re an experienced trader with an edge you’d like to share with the Admirals’ community, then you can earn extra revenue by sharing.
For any clients unfamiliar with copy trading, there’s a step-by-step guide to help you get started here.
Admirals have made their programme a straightforward three-stage process.
- Log in to the Trader’s Room dashboard.
- Apply for copy trading.
- Start copy trading.
The firm will ask a few questions during the application process to ensure that copy-trading is suitable for the client.
They need to show risk tolerance and experience because the programme isn’t necessarily suitable for everyone.
There’s a helpful FAQ section for copy trading subscribers and signal providers that helps to bring clients up to speed with the concept.
Subscriber FAQ answers
The suitability test allows Admirals to assess your risk tolerance level. Copy-trading mightn’t be suitable for some customers who don’t appreciate the risk involved in trading. CFD trading is a high-risk activity, which applies even when you are subscribing to a top trader.
Admirals recommend a 30-day investment for traders to become fully aware of the strategy and concepts to achieve the targeted results.
Traders can follow multiple strategies and many traders.
Subscription fees get taken from the copy trader’s main account.
Traders get to see all signal providers trades in detail.
Traders only pay for the periods they follow a specific signal provider.
The subscriber can adjust their stop losses later and decide what happens when the stop loss gets hit.
Signal providers charge fees, and these may change. Subscribers get notified of any alterations.
Signal provider FAQ answers
Signal providers receive a fixed subscription fee in USD. A fixed period can be set per month, quarter, half-year, or full year. The maximum price is 100 USD. Signal providers set different fees depending on the investment amount.
Signal providers must open a Trade.MT4 account with AM Cyprus. When publishing their strategy, they have the choice to upload previous active Trade.MT4 account history into the platform. The system accepts the MetaTrader HTML export file format.
Fees get applied for each day the subscriber follows the signal provider, and adjustments get made when followers end their subscription.
What sets Admirals copy trading programme apart from the rest
Admirals is determined to acquire the best signal providers there are to their programme. They haven’t rushed to get involved in a space that has matured.
They’ve carefully considered the software tools and options available to ensure they’re providing a best of breed solution.
Providers don’t have to disclose their edge or complete method and strategy if they want to build a network of followers, and Admirals have ensured the process is easy to follow for copy traders.
Fellow Admirals clients log on to their platform and track providers’ market moves. When they open a trade, the actions get mirrored.
As copy traders, they always stay in control. Subscribers set their risk, profit targets and can close any position whenever they like.
Benefits of copy trading for followers
There are several benefits of copy-trading, and we’ve listed some of them here.
Not all of us have the time to dedicate to following moves in markets like FX. So carefully selecting experienced traders from a leader board that ranks their performance makes perfect sense.
If you’re holding down a full-time job, then following someone who works hard at it when you can’t watch markets 24-5 is undoubtedly better than trying to pay attention during your spare time or after work.
Learn from more experienced traders
You don’t just blindly follow traders on the leader board. You get to see the finesse of their trading strategies and can begin to choose those who match your preferences.
For instance, you’ll see who set risk parameters you find suitable, who spread their trades on major FX pairs, and who prefer day or swing trading strategies.
Traders can’t luck or bluff their way to a record of accomplishment with history. To climb that leader board requires skill, dedication and knowledge.
Ideal for novice traders
Using a modest amount of capital to apply to copy trading could be an ideal start if you’re nervous about trading. You only have to pledge small sums to test out the process in live markets.
Diversification of an investment portfolio and strategy
Think about this. If you’re an investor and pick stocks to buy, choosing which active traders to follow is an extension of your diversification.
Instead of analysing the stock’s recent performance by looking at its EPS, P/E ratio, market cap, etc., you apply a similar forensic investigation over which traders to follow.
Benefits of copy trading for strategy providers
Signal providers often view themselves as egalitarians who level up the trading field for novices who struggle to enter the complex trading world.
Earn extra sources of revenue
Signal providers can generate significant extra revenue by allowing subscribers to follow them. They can increase their followers and revenue by publishing a consistent record of success. The more successful trades recorded, the more attractive the signal provider becomes.
Expand the brand
If signal providers have success with other services, they can duplicate their strategies on Admirals to a new audience. Admirals have clients in over 150 countries with 37 offices globally. Hundreds of thousands can see a successful strategy in operation.
Founded in 2001, Admirals is a multi-award-winning online financial broker offering competitive spreads and low commission charges. Admirals offer trading in Forex and CFDs on multiple products, including energies, stocks, bonds, ETFs, indices, and metals.
Through Admirals, traders can access high-tech platforms such as MetaTrader 4 and 5 on the web, mobile, and desktop for the ultimate trading experience. The mobile platforms are enhanced for iOS and Android, and clients can also access a proprietary plug-in called MetaTrader Supreme Edition.
Admirals’ clients get free access to webinars, seminars, and videos. Clients can trade from 150 countries and select from a wide range of accounts based on the software platforms clients prefer, their experience and their financial circumstances.
As a regulated broker, Admirals have approval and licenses in many jurisdictions, including Financial Conduct Authority (United Kingdom), Cyprus Securities and Exchange Commission (Cyprus), Financial Supervision Authority (Estonia), Australian Securities and Investments Commission (Australia), Financial Services Authority of Seychelles (Seychelles).
Clients can fund their accounts through Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Union Pay, Neteller, AstroPay, and Trustly.