Topic: Have you ever used copy trading apps (Read 466 times)

With all the negative reviews that I’ve been reading online, I think those are proofs that it will never make me profitable in trading. Copy trading will never make you profitable in time, but will make these channels richer without doubting. This is the reality but sadly, a lot of traders still fall for them believing that they will take shortcuts in making their trades successful and profitable. Perhaps because every trader is greedy, but others are just wise enough to control their greed.

Trading is not enhanced through copy trading, but by seriously learning on your own so you can honed your own skills and strategies that are required when trading. So don’t be tempted from those copy trading apps because they only make you profitable at first but eventually, they will only see you as another source of their income. And do not adhere to what they’ve been saying that you will make profits without hassling yourself. Of course, when you trade, there is no guarantee if you’ll end up winning from your trades, that alone creates a hassle and put your money at risk.

It’s really easy to say that you’ll get bigger profits from trading out from less hassle, by simply copying trades from profitable traders. But in reality it’s not. It’s hard to find reputable traders these days since a lot of traders mostly claim that they are good and profitable in all their trades, when in reality they’ve been losing in most of their trades. Worst is, they never know exactly how trading works and they just pretend to act like good traders because it’s part of their job to make an income. That’s the reason why I don’t give a try from those copy trading apps, because that will only increase the rate of losing than just relying on your own and learned from all your losses.

It is the only way to trade for me, I would never consider any other method to make money and I understand that some people may consider it as an option but for me it will never be a valid option. I think it should be important to make as much difference in crypto to yourself than any other person.

If you trust yourself and improve yourself and just give time to yourself as well then eventually you are going to be something good. That doesn't mean that we are not going to end up with a bad result, it should be important to remember that we are going to make some profit with it if we keep giving yourself to studying how to trade. If we have no idea, we are going to be just trusting others and that will end up with a loss.

That's true, and we can get a lot of experience as well as knowledge when we want to learn from a mistake to be a little more advanced, want other people's mistakes or our own mistakes to have the same benefit to be more advanced if we want to learn from those things. And it's also very true, on the other hand we can also take advantage of other people's mistakes for us not to do, which as we know that there are always consequences or some losses when we experience these mistakes, so by learning from other people's mistakes we will minimize some of the these losses and not doing things that could bring us down. I don't think any of them have had any success using copytrading, and if they did I would wonder how they did it. What I know is that when we want to go through various processes in a field with some mistakes that we might experience there it will be more likely for us to get success, I would advise someone especially novice traders to do it themselves instead of relying on copy trading, even if it is very helpful in gaining profits but still it will be very difficult for us to develop if we only rely on other people's knowledge. Learning from one's own mistakes is a more promising process for future success.

Well there is a saying  that  we should learn from others mistakes but there is also a saying that experience  is the best teacher, I think but sayings have a scenario to which they should fall and I will rather choose to learn from the mistakes of others rather than making same mistakes I would have learnt from and even make some profits  from it rather than risking absolutely  everything while learning.

I was on the opinion  on seeking to know kw if anyone has been successful  from copy trading because I was having some thoughts on having a copy trading app and earn from it while learning.
How about that 🤔

Octafx is a familiar app of mine but it is used for Forex trading.  Crypto trading and forex trading are two completely different rules and traded with different assets so octafx will not be of much use for crypto trading. And I always prefer to trade with my own strategy so I don't use Octafx or any other copy trading app.  I often do future trading but in that case I follow the top profit gainers of the leaderboard and apply my own strategy with it and I am able to earn some good profit. I always believe that trading by doing research yourself is most efficient and beneficial. and in this case you can become an expert in trading

Totally get where you're coming from! Well if what you're aiming for is independent trading, trusting your own instincts and strategies in this ever-changing crypto and forex scene makes total sense. The market's wild swings can be hard to predict. Trading is also one of the hardest profession in the world.  Learning from losses and evolving as a trader is the real deal. And you're spot on, those copy traders might not always be the gurus they claim to be. You're not learning when you're just copying. But if you just want to make money with the person's analysis you trust, then go for it.

I haven't tried it, and I don't think I will try it in the future either. Copy trading feels like not real to me. You are most likely to make losses instead of profits. It is not clear what leverage they are using and what's the value of their each trades. Little movements in the market can make huge impact on profits and losses based on how much you invest. They are the big dogs. They are investing a huge amount for each trade. We can not compare our little amount with them.
Also, not every trader shown there are making profits. Each and every trader make losses at some point. So finding the best one is troublesome. Because is crypto trading, past performances foes not determine future outcomes. Maybe they are loosing now but in the future that could turn into profits. Vice versa for profits to losses.

So what I recommend everyone is to do your own research and analysis. Do it on your own and then compare it with the pro. Don't just copy someone else's work and expect for profits. Use it as a learning process. This will give you the best results in the long run.

You mention that app is scam. I also think there are many scam copy trading  apps in play store. So Better use Exchanger for copy trading. In Binance you can do copy trade it is more safe i think. We know copy trade is mainly for forex. But some exchanger open it for crypto also. And copy trading mainly use new comers.

So my advice if you want to copy you can use established exchanges that will be mlre safe and you will be safe from scam. And my strong advice please avoid copy trading  apps, became most of them are scam.

So far I have never used copy trading and if we can run trading using trusted online sites as usual why should we download the application. There are many copy trading services that end badly and in the end they seek fame through YouTube channels by offering their services. But if there is one of the many people who use it, it has probably been through long consideration and also must make sure you are risking capital that you can bet.

When people want to learn how to trade, using a supporting application like that won't help much. There are many cases of copy trading that end very badly because faces like this make trading in the eyes of ordinary people even more frightening, even though it is only done by a group of people who are looking for profits irresponsibly. So should be careful using copy trading? and if we can't be responsible then forget it.

If by using copy trading newbies could actually learn more about trading it would not be so bad, however I have my doubts this is the case, as it is not as if the trader they are copying describes exactly why they are opening a position at that point in time and what they are trying to achieve with it, if that was the case a smart newbie could learn a lot from this and eventually develop their own successful strategy based on what they saw, but we both know those people are not really interested on learning and they just want to profit from the efforts and skills of someone else.

Copy trades would be the most common option that you would be testing out when you are a noob, some might be that curious and making learnings more deeper but there are ones who would really be completely relying into it.In overall, its not really that ideal on making yourself get stuck into something like auto trading using up some bots or would be simply trying out to copy others trading too. It doesnt assure out profitability and at the same time it couldn't really be making you a better trader since you cant really learn something which would really be relevant with trading field. You would be able to find it sooner or later in speaking about this aspect or
particular things because you cant really be able to progress yourself if you arent really that mindful about on how to learnt up things on your own. You would be finding that it would really be that relevant that you should really be trading manually and would really be having that kind of steps and methods which you would be needing to deal with.

Copy trading is just a learning tool for newbies or those who are just making their journey in trading. I use copy-trading before but not an app, and it is because I have no trust in these apps. But yeah, I'd leave copy-trading after getting an idea of how it works and I would say that there is no potential to become successful from doing this. That is why I won't suggest to keep doing this longer if you wanted to grow your knowledge and skills, and you never be successful from relying on others' minds. If they can manage to analyze the market, we can do it as well because there are a lot of available resources that can be used, only we need to spend time.

The loss you do yourself will be a lesson and can make a foundation so you can deal with the same incident well. If we only rely on other people there will be nothing we can learn other than just seeing without being able to practice. There are many trading methods that can be applied, everyone has a different method. it can be created by doing practice. The profits generated from the trading method itself will make us more satisfied and able to continue to grow.

They could use it if they want to, but they should remember that it's quite important to make your own trades as well. There are way too many people who act as if they are doing something that would be single time, but the reality is that it's not that easy or understandable most of the time as well.

I think it's quite clear that we are talking about a situation where they are going to end up with a terrible result if they do not learn how to trade themselves. So even if they end up doing it, they should keep learning how to trade meanwhile in order to grow out of this one day. They should aim at being their own source, and most people who do copy trading, end up not working on themselves at all and try to improve, that's the problem.

Copy trading always end in tears! The market is so dynamic and require regular adjustments and fine-tuning of even profitable strategies. This is what computer programs do not do... they are fixated on the initial data and the result of this initial successes followed by disastrous failures.

The only people who make  profit in the entire process of copy trading is the owner who never commit any money to the system.They enjoy the initial signup fees and are very fast in withdrawal the initial profits before the doom sets in.

I will advise anyone venturing into trading to learn and grow through the process...it is a skill that will pay you for the rest of your life.

Dear Mvdheuvel1983 ,

We regret that we could not respond to you earlier. We apologise if you feel that way about copy-trading. However, that is not the representation of the actual picture. Copytrading is a feature introduced for people who find it difficult to find the time to trade. It is based on real trading and also involves the same level of risk. Due to this particular reason, we provide the filters for Master Trader traders by risk score (1-2 score traders take the least risk while trading) or by strategy (this can be seen via the Master Trader's trading history), among various other factors. You are most welcome to check the details here at this link:
https://www.octafx.com/copy-trade/

You are most welcome to try our Master Trader search filter and find a Master Trader with the same school of thought regarding trading. For further information, you are most welcome to contact us via live chat or email ([email protected]). We would like to know long have you been trading on our platform. We recommend you follow our social media platforms to stay updated with the latest news and promotions. We hope to hear from you soon.

Kind regards,
OctaFX Rep.

I've seen my friend use the Copy trading application, but I see my friend really didn't make a good profit, quite the opposite in doing the copy trading method.

According to my understanding, trading is copy trading, if you don't understand correctly the risks you get are greater than trading in general.

For example: as I have read the risk of copy trading.

If what I read in the quote above really happened in copy trading, I'd better step back and trade as usual, except: I really understand the situation and market conditions perfectly and professionally.

I would be very careful with using copy trading apps for trading no matter what the reviews on the internet are saying. Most of them are scams. They customer agents don't respond to your messages on live chats or and when they do their requirements to get your issue sorted out is just discouraging. For any traders good, avoid copy trading apps. Learn trading and trade yourself. At least when you lose, you would know that it your fault and you would hold yourself accountable and improve on your next trade.

Exchanges are just trying to get more people into the market, as the more people they bring the more money it moves and the more profits they make, and the same is true for anyone that is bound to get a financial gain out of those people, however while everyone wins the ones that do not are precisely the people that come to this market not knowing how to trade and that somehow believe that despite lacking the most basic of skills to become profitable they can still find a way to do so, a notion that is ridiculous no matter how hard I think about it.

The truth is that I don't like using copy trader feature on any of those brokers or exchange, because if I can't be confident in my own trading strategy, then I see no reason to trust the copy trader as well. Well, some people say it works for them, but the thing is that as a trader that I am, I know that the dynamic nature of the crypto or forex market makes it very difficult to accurately determine the direction of the market. As such, I just prepare to go with my trading strategy so that if I lose, I will learn from my mistake, correct the mistake, and go again. "Ones a professional trader, many times a failure." If one can not trade and learn from their errors, then they can't become a professional trader, perhaps those copied trades are also shared by some traders who claim to be professionals.

I do definitely agree into this point which is actually that accurate on which most newbies or really that lazy people are the ones who would really be considering on taking up such path or method because they dont

really have much time or doesnt really like to exert effort that much towards their trades and this is why the reason they would be sticking into something that they could really be able to earn without exerting
much effort which its never been that recommendable.There are people who are just really that not mindful until the time comes that they would be experiencing out some huge losses or mistakes
that you have done along the way. Copy trading for the sake of curiosity then its not bad but relying into it despite on having continous loses is never been that ideal or good.

This is why it would be always that better that you should really be learning up trading on your own methods and ways or active dealing on which you would be able to make
profits on your own and on the time that you would be losing then that kind of feeling of regret wont really be that worst compared when you are relying on someone.

Have use copy trading apps before  and I cant really say they bring it any much profits as mostly advertised , you can make small percentages from time to time but the losses sometimes are more than the wins that way you wont see much profits overall. It will be better to learn and master  any trading strategy by yourself that way you can control your losses and wins and keep consistency in your trading journey.

Since you're a representative  here, I think it will be more better if I get to the team through you for faster response and ease of communication  and I will appreciate  if we can get to talk more better maybe on telegram since you are still limited to pm
You can reach me on telegram @sakaexchange and I will  be will to talk more better with you.

Obari.

Dear Bettercrypto,

Copytrading is a feature introduced for people who find it difficult to find the time to trade. It is based on real trading and also involves the same level of risk. Due to this particular reason, we provide the filters for Master Trader traders by risk score (1-2 score traders take the slightest risk while trading) or by strategy (this can be seen via the Master Trader's trading history), among various other factors. You are most welcome to check the details here at this link:
https://www.octafx.com/copy-trade/

You are most welcome to try our Master Trader search filter and find a Master Trader with the same school of thought regarding trading. For any further information, you are most welcome to contact us via live chat or email ([email protected]). We recommend you follow our social media platforms to stay updated with the latest news and promotions. We hope to hear from you soon.

Kind regards,
OctaFX Rep.

Hi Obari,

Thank you for your suggestions, it means a lot to us and we indeed take your feedback seriously. You are most welcome to contact us on any of our official social media platforms and share all the details of what you can offer. The relevant department will then contact you. For any further queries, you are most welcome to contact us via [email protected]. We are available for you around the clock.

Kind regards,
OctaFX Rep.

I think if there is a big fee to use it, and the profits do not worth it, then that master doesn't really worth it neither. I have worked with some that had zero, just to get their name out there, and they were actually making a small amount of profit and during bear period that's not bad at all, but  then after getting a lot of followers they decide to charge a lot more and suddenly all their small return became nothing and even a loss at times.

This is why always try to find a way to trade yourself, if you end up trading based on what others telling you to do, then you are going to be dependent on them and they will be able to do whatever they want from you, this is why it's much better to make it look like it's different on the long end.

The only copy trade platforms I know are Bitget, Fairdesk and or ta fx which is always seen in Facebook ads. Then I can't say that copy trading is bad. Because if you can really make money by copying trading, why not do it, right?

just make sure that what you put your money in that you can trust to copy is based on the research you did here. Because it's not just a copy that will earn you money right away.

Copy trading is fine if the application is reliable, but you should not expect it to be a magical tool to make millions of dollars without any fatigue.

You need some experience in using copying applications, of course, in the first place, you have to choose the good and reliable application, otherwise you will lose your money.

Personally, I haven't tried the copy trading app, but I did try the copy trading option that is included as a feature on some CEXs, but unfortunately the results were not satisfactory enough.

I haven't tried trading using octafx copy trading but I have tried copy trading on KuCoin. But the results are not as good as expected because the market changes and the people who copy the trades are not as good as the reviews I read. And I had a loss but it wasn't much because I just did a test out of curiosity

But as other friends have said, octafx is forex trading, which is different from the crypto trading we do. But I do not recommend copy trading to beginners new to trading because they must find information about the trader and learn about other trades.

If you want to use the copy trading feature, you have to know the trader, read his reviews to see if he really has good trading skills or not and so on.

Octafx is a broker for forex trading and as far as I know it is quite trusted, because I see quite a lot of forex traders in my community using this broker, if you are afraid of being scammed then why not search about the exchange first, because if the exchange is trusted then copy the trades they have that are just as reliable.
You have to understand that copy trade will not increase your chances of winning, it's just a way to make it easier for you to trade because you don't need to do any analysis other than following the leads you choose, but of course, you can't be sure of profit because it's impossible for a trader to always make a profit, and my experience with copy trading did not go well as the results were no better than trading on my own.

Copy trading means relying entirely on technology. Copy trading is usually done in bot systems if I'm not mistaken. Depending on the technology in this trading system you have to risk money in this case this technology will work in a certain system where losses are more than profit so I will always try to avoid this technology. It will be good for our money and trading if we learn about trading ourselves by relying on copy trading. It will never be good for us if we take short cut to get profit from trading. The road to success is always difficult, so to become a successful trader by trading, we must acquire adequate knowledge about trading.

Your answer is in the second comment.


I think platform is not a problem if you want to trade, you just have to make sure that you are taking the right decisions, because many times it is humanly difficult to manage the trades, and make the right decisions. Many people make mistakes. If you can make sound decisions and use them well then you can hopefully do well in trading, then the platform will not be a hindrance to you.

Before I had a hectic schedule and of course I still want to earn through trading before I'm using the Etoro one of the known copy trade and I have a deposited balance of 500$ and up in case and seek for the normal trade not like a high baller traders and leave to the person I make copy trade those traders have their profile too that you can check their winrate and not all the time is a green day. I made profit that time but the problem is I let other people to make a trade for me which it becomes hard for me to decide that someday they might throw their trade so I decided to learn more in a day trade so I can monitor easily.

^ A trader who prioritizes risk management and aims for a favorable risk-to-reward ratio is likely to have a more sustainable in trading and I agree that this can be especially beneficial for long-term success, as you have said. By choosing traders who emphasize these principles, you are more likely to have a good strategy that aims for consistent growth while minimizing the impact of potential losses.
In OP's question, I never tried using apps even in trading because I know they are not safe, web browsing is quite safe than them.

Lol that's why he asked. Sure, actual trading from your own analysis would be great. But not all people can make their own analysis and take risk from it. Though they can see the opportunity in trading they simply don't want to submit to the stresses of trading. That is why copy trading is completely okay. It's not simply the easy route, it's just the route that works for other people and there's nothing wrong with that.

I have never used OctaFX despite that it’s being advertised on Youtube frequently.

The only ones that I have used in copy trading are BitYard and Prime XBT. I also have eToro before that, but I have never deposited any amount there to be honest.

In my experience, the profit isn’t that much though from the traders that I have copied whether declaring long or short. Despite that it’s hands-off, the decision is not in our hands and we do not have the control over it.

Much better to learn how to read the charts, candlesticks, patterns, etc., when doing spot trading. It’s less riskier than copy, margin and futures.

For me, my own opinion is, the first I noticed is the risk is not worth if. Because if you have a profitable trader from your master trader, the profit you will get is somehow few because of their charge, some are 10%-15%.
But there's a loose trade, you will lose huge.

We all know, not all trades will go well, so I think choosing a master trader that has a good risk: reward ratio or good and always look for long term here.

You guys have been in the forum since April  and my post has been the only post that has prompted your response and thats amazing 👏
I'm not sure most people know of this feature  of copy trading and you guys still have a lot of work as regards to publicity especially  in the forum and though I've seen some affiliate marketing by some influencers in my country, but that's mostly for the octafx app and not the copy trading feature but whatever the case might be, I think running some form of campaign to create awareness about the copy trading feature of your app will do alot of good both to your firm as well as traders.

You can rent my signature space if you find my idea attractive  or slide in my pm so we can talk and discuss more better about it.

I think copy trading is indeed useful for beginner traders, but for those who already have basic trading knowledge, I think it's better to develop our own trading system, because using copy trading is not always profitable, there is no satisfaction in itself, and of course that way makes us lazy to develop into a pro trader, because we will always depend on copy trading, hopefully we will soon realize that. We can pay attention to those who copy trades, for example experiencing a loss, then he will dramatize, this is different from trading alone where loss and win are our friends, that's a normal thing, and we can take lessons to develop ourselves

Dear Obari,

We apologise we could not respond to you earlier. Thank you for mentioning OctaFX and entrusting us as your broker. Copytrading is a feature introduced for people who find it difficult to find the time to trade or would entrust their investments with a more experienced trader. It is based on real trading and also involves the same level of risk. Due to this particular reason, we provide the filters for Master Trader traders by risk score (1-2 score traders take the least risk while trading) or by strategy (this can be seen via the Master Trader's trading history), among various other factors. Once you follow a Master Trader, your account would follow their trades. We recommend that you maintain the same amount of personal funds as the Master Trader you are copying to avoid stop outs. You are most welcome to check the details here at this link:
https://www.octafx.com/copy-trade/

You are most welcome to try our Master Trader search filter and find a Master Trader with the same school of thought regarding trading. For any further information, you are most welcome to contact us via live chat or email ([email protected]). We would like to know long you have been trading on our platform. We recommend you follow our social media platforms to stay updated with the latest news and promotions. We hope to hear from you soon.

Kind regards,
OctaFX Rep.

Well I often see some creators advertising copy trading applications on some social media, I think this can be a good alternative for those beginners who don't want to bother with some of the steps they have to do when doing it themselves and they can use copy trading there. Well I agree, I think it's better to use our own way of trading, we can do it the way we want and it will indirectly further train our knowledge about this field. I once tried using one of the copy trading systems and at that time I got a win even though the profit was not too big, but strangely there was no satisfaction there. Although I was able to get the winnings I expected but I could not feel the satisfaction in the victory, maybe the problem is because we depend on others.
So the point is that it is better to use your own way of trading, although it is quite complicated in learning but believe me many successful traders have their own way of achieving success in the world of trading because they always learn from every mistake.

It is good that you have tried the copy trading by yourself and testify that there are losses at the long run. Judging from the outside, I felt that the copy trading is a kind of Ponzi scheme and trading combined together. This is so because they would never tell you about losses, but about profits but we all know that there is no kind of trading without losses. What matters is that at the long run, your profits should supersede your losses.

My idea is that they use the money from new depositors to settle old members in terms of profits they make and since they could also generate money from trading and with the new inflow of money. It becomes a Ponzi scheme and trading managed together and it can be managed for a longer period of time.

ah yes, I saw some youtubers promoting trading sites with copy trading. I don't know the success traders who copy other people's trades can get. that means if the trade is profitable, then you can get profit with deducting costs. but if the trade is losing, then you won't get anything.
Learning your trade on your own might be stressful for some beginners. but if you are really interested, trading with the results of your own analysis will be better than you following other people's trades like betting with your money run by other people.

Well, I'm thinking of doing it for some time, but after sharing your own experience to it, I guess I will have doubts now as to me trying it or not.

TBH, the first time that I saw this term "copy-trading" was in eToro where they are offering copy-trading so that you as a copy trader will just sit there while the ones you are copying will make successful trades for you. I mean isn't it like you are leeching in some ways because you aren't learning from it, but you have a chance of earning money. Well, I guess that it wasn't in your case because you loss money like you said after a long time, and I might experience the same as well, so I guess learning how to trade is always the best way, and not copy trading other experts out there.

As for trading bots, may I ask if you already tried it? What is your experience to it? Did it make you money, or is it worth it? Thanks for sharing.

I have ever tried to copy trading, and it's not worth it, I only made losses after some long time. It's better you learn how to trade yourself and try maybe getting a strategy into trading bots

Copy trading can be a valuable tool for less experienced traders to learn from and follow the strategies of more successful traders.
But it doesn't mean you can rely on it with your whole time trading activities, you should learn to stand on your own feet having your own skills and knowledge.

I didn't use the app even in trading, it should be on a website not on the app, there are too many loopholes if you're using this app and the common problem is the buggy one.  
Look at the Playstore Review, everything they said was a negative review toward this app.

I have a friend who tried copy trading (after I let him know it exists). It was quite a few years back though and while he didn't lose much (or earn much really), it didn't really prove as a learning experience for him. Accurate to the name itself, copy trading is a method of, well, copying others after all, and in this trade, you'd never see any profit no matter what if all you do is copy trade. While I won't judge you if that's what you want, then why bother copy-trading in the first place? This just gives you an outlet for venting when your trades are lost when in the first place you could've taken the time to study up and earn on what you learned instead.

While it is one option for beginner traders (which I also considered as a good one, but that was in the past), it might be better to experience losing money early on instead and learning on what you did wrong and what you didn't know instead. Losing money is part of the process, so if you're not happy with that, I'd honestly just stop trying to trade (or just DCA on a good coin).

This is not always true because you're copying a trade from a real traders. Bots are mostly good at beginning but humans that are really profitable in trading, can be possibly maintain his profitability. You can have the data of the trader you want to copy trade from his previous months performance and it's good to know some techniques to determine best trader before you pick. We have to expect that they will also experience loses because there's no strategy that has 100% win rate and we can't also control the market movement.

Actually copy trading itself not the correct way of approaching to the trading.So when considering to the application for the copy trade is not the welcome one.It’s better to create your own strategies for the trading,because you should be the masterpiece to the one own strategy.But to the other people struggling can be rectified and they can achieve the desired result using new techniques.It’s essential for applying the strategies on your real money instead of start blame the market and the cryptocurrency trading application.

You don't have to rely on apps especially if you have just downloaded it on playstore. There's a possibility that you might get scammed so better trust your guts. It is better to learn trading yourself without relying on anyone or copying other's strategies and techniques.
Having your own kowledge about trading will be an edge so you better be wise about what you do than regret it in the end. If you are afraid to get hacked or to be scammed, try to avoid downloading unknown apps and think twice before downloadjng anything.

You’re likely to end up with a loss if you leave your money to copytraders in longer periods of time. Yes, some copytraders manage to get trading rotations/cycles right (hence why some copytraders have like 200% annual profit or even higher), but let them trade for more than 4+ years, then they’ll end up likely messing up. Their annual profit always looks good because it’s mostly under the span of 2 years.

Having some prior knowledge of copy trading but have never used this trading system so it would be difficult for me to speak about this system. But from what I know about its trading, I think this copy trading system is a complete scam. Fraudsters usually do this to deceive. It is easier to depend on others than to learn something by yourself but it is never safe to depend on others. How can you trust someone you don't know or have no idea about? There is no need to rely on such trading systems, you should gain practical experience of trading yourself. If you try everything is possible, if you try you can definitely become a skilled trader but if you depend on others you will never learn trading so instead of relying on others depend on yourself.

Looks only for Forex.

Be suspicious when you are trying out a new app while you are about to deposit money on an app nobody knew about because if it sounds like a scam and looks like a scam, it's most likely a scam. Copy trading is not something new but if a platform uses this copy trading feature for its selling point, it's targeting newbies to join them. Newbies who are really looking for an easy way to make money are usually drawn to such promises.

Cool place? Are you sure about that.
Because some copy trading platforms only bring losses, because in the end they are scams.

I've tried using several copy trading apps and picked the most trusted traders with a large following.
It may be profitable in the beginning, but it also depends on how you manage your capital.

I keep the management to a minimum so that I know how it will perform after a few days of using it.
It does give pretty good results without requiring thinking from our own brains.
But be careful because every platform comes with risks.

A really good suggestion is to learn first how trading works and what you need to know.
If you only rely on copy trading and do not understand the whole of trading, then it will be very risky.

Also you have to be careful with trier and error in terms of downloading apps that you don't know exactly which is the function. There are scam and to be free from it is not to bring it close to your phone. As for copy trading, the reason for that is when someone wants to be a trader yet they don't want to learn. My advise is learn and make your mistakes then you can be better.

Copy trading hmm, I had made I think a lot of replies in the past. As copy trade from its terminology, it shows the low risk is involved. You are blindly following a trader whom you don't know and who don't know you and don't even know about your financial stability. A very inappropriate match or you can say combination which can be deadly for your portfolio.

This is a general view there are a lot of demerits of copy trading which is annoying as it doesn't guarantee any profits even if you get profits there can be terms on every trade you follow. A very tightly restricted medium for your portfolio to play in the market. Obviously, I do support following the analysis of others in your trades, to educate yourself and learn about trade management and some sentiments as well.

I really don't think buddy this topic need a discussion because if you really want to learn something you dig in past topics where can find more valuable insights.

Copy trading sucks because you will pay for the premium when you profit while you can easily earn the whole profit without relying on this tool if you will learn on your own. I have copy trading experience before but I really don’t like it because some traders is doing crazy trade.

I’d rather use bot to trade for myself because I’m still the one controlling the settings of my trade instead of relying to someone that I didn’t know. Winning percentage sometimes goes south when trader already tilted.

Don't fall for the scam of copy trading as it will never help you to be a trader but someone who copies others, and you should keep in your mind that others can be wrong many times and if you are placing your orders based on their strategies then you chances of loosing a lot of money is going to be a confirmed thing.

I really give no importance to copy trading and I would also recommend to avoid it as any cost. A copy trader is worse than someone who losses 10 out 20 trades because that trader at least know that what he/she is doing. If someone does copy trading then that person is throwing his money into river in hopes of getting higher amount then the thrown amount. I would recommend you once again to avoid this type of activity if you don't want to get scammed by the fake trades of a trader.

I haven't used any copy trading apps but I'm trying to see other trader insights on tradingview. It helps me in rounding on what move to do on a specific trading scenario. I believe that it is always better to trade on your own especially if you are trying to improve your skills but yeah there are people who only want to gain profit as easy as they can that's why they rely on copy trading. It's an easy path honestly but yeah the return is not that good sometimes especially if the trader you choose is not performing well, you will lose on either fees or lose on the performance on the trader you choose.

Why do you need to download an application to do something that can be collected online, meaning why not search for online sites that provide this service. In general, I think that copy trading is scam or at least a waste of money, all they promise you is that you will get profits from their advice, even if that Possible, why they didn't take debts and invest them instead of selling copy trading service and making others rich?

The only successful case for copy trading is for someone looking for fame, and such people offer their services on YouTube.
In general, be very careful.

If you are worried about getting scammed, why did you still install it? Installing and still worrying about getting scammed would likely get you hacked/scammed in the first place if it's fake. You can be infected by doing that.

Don't think about it too much. If you believe that you can earn at it, do it. Just make sure you are risking a capital that you can risk.

Copy trading is the easy route. I would prefer to study on my own and make my own decisions.

OctaFX copy trading app is for forex.

For crypto exchanges, you can access the copy trading through the exchange directly. I know of Binance, Huobi, OKX and many other exchanges having copy trading.

I do not know much about foreign exchange but I know that learning trading is the best.

Use the amount of money that you can afford to lose to learn and to trade.

Just as my topic reads, I'm interested  to know if anyone has ever used copy trading apps and what's your experience?
I've always known of octafx copy trading  app but never  never used it because I've tried downloading  it but got other similar apps from playstore and didn't know which was real,
I finally installed one that seemed real and I think I love the simplicity but haven't tried it out yet because I didn't want to be scammed of any cent 😅  but I think judging from what I saw on the app, this is one cool place one can make profits without getting to stress their brain but rather pick a trader based on their performance and your preferences and you're good to go.

What do you guys think about copy trading?
Let's discuss please