What is Axi Copy Trading?
Axi Copy trading allows you to copy trades placed by other traders. The basic goal is to find another investor with a proven and successful performance history and begin copying their trades. If they continue with their success, you will also benefit. However, if trades do not go in their favour, you will also be copying their losses. Traders must therefore be aware that past performance is not a guarantee of future success.
Copy trading can be done by connecting your MT4 trading account to the Axi Copy Trading app. The Axi Copy Trading app can be downloaded free from the Apple Store and Google Play Store. Within the app, you can explore the community of traders online – filtering by things like profitability, asset type, and level of risk – to find traders whose trades you want to copy.
Once you have found a suitable trader, you can adjust individual trade settings to a level of risk that is appropriate to you. Once you click ‘Copy,’ any time the master trader trades, your account will copy their trades, based on your settings. You can follow more than one trader at a time, and you can stop copy trading at any time.
The app is developed by the Pelican Group who hold the relevant regulatory permissions to offer copy trading.
For more information, please refer to our What is Copy Trading? guide.
Risks of copy trading
Copy trading, like any investment, involves risks that must be managed based on individual circumstances and goals. Each trader has a unique approach to risk, making it essential to evaluate the past performance and risk management strategies of traders you choose to copy. Adjust trade settings as needed and only invest what you can afford to lose. Remember, you can stop copy trading at any time.
Advantages of copy trading
- Flexibility: You can control how much to risk per trade, adjusting trade sizes to fit your account balance.
- Efficiency: Copy trading allows you to benefit from the expertise of top traders without dedicating extensive time.
- Transparency: Performance data of traders is visible, allowing for informed choices.
- Diversification: Copy trading can complement your strategy, offering exposure to different trading styles and potentially balancing underperforming strategies.
Learn more about the potential benefits of copy trading or watch the video below: "Why Use Copy Trading? Top Advantages Explained."