Manual trading involves making trading decisions based on your own research, analysis, and strategies. Copy trading allows you to automatically mirror the trades of experienced traders (signal providers) in real-time. This means that when a signal provider makes a trade, the same trade is executed in your account, providing an easy way to follow successful traders effortlessly, without constant monitoring.

To link your account for copy trading, you first need to sign up on the Taurex platform and create a trading account. Once your account is set up, download the Copy Trading by Taurex app, available for iOS and Android.

Connect your Taurex account to the app, where you can explore trading strategies and choose a signal provider to follow. Please note, your account must have a minimum balance of $100 to link it for copy trading, a requirement set by Pelican, the service provider, not Taurex.

To copy a trader, first select the account you would like to copy and then click on the “Copy” option. In some cases, you may need to complete a Suitability Form. After completing the form, select your copy size:

• Proportional by Equity: Your trade size will be proportional to your account equity relative to the signal.
• Mirror Master Size: Your trade size will match the signal provider’s trade size, regardless of your account equity.
• Fixed Size: Your trade size will be fixed for all trades.

Decide whether you want to copy the trades that are already open by the signal provider, and whether you want trades to be rounded to the minimum trade size, even if the calculated copy size is smaller than what your broker allows.

Choosing the best signal provider involves evaluating the provider’s past performance, trading strategies and analytics. Consider your trading goals and compare them with the signal provider’s performance rate and returns and the types of assets they trade.

Although hassle-free, copy trading is not risk-free, as with any form of trading. Your success depends on the performance of the signal provider and is subject to market shifts. To mitigate risk, you are advised to review the signal provider’s past performance, keeping in mind that it does not guarantee future results.

Before downloading the Copy Trading by Taurex app, please ensure that your device has enough storage space and a strong internet connection. If the problem persists, please contact [email protected].

The performance fee in copy trading is a percentage-based fee set and charged by the signal provider based on the profits generated from their trades in your account. The specific rate can vary between different signal providers and is only applicable when the trades are successful.

Performance fees can be calculated instantly, daily, weekly, or monthly, depending on the signal provider’s preference. These fees are deducted in arrears, based on the total aggregate profit achieved, considering all closed and open positions, and are subject to a High Watermark. Each signal provider’s copy trades are considered independently, meaning losses from one signal do not affect the performance fees owed to another.

The High Watermark is based on the highest value that a client account has achieved, i.e., performance fees will only apply if the copier continues to increase their profits. The watermark is reset each time the copier increases their profits; the gain minus the performance fee becomes the new benchmark.

If a copier occurs losses, the watermark remains the same, and performance fees will only apply again once those losses are recovered and further profit is made. If a copier exceeds the High Watermark but then incurs losses within the same reporting period, reducing their profit back below the High Watermark, the performance fees will roll over to subsequent reporting windows (e.g., the next day, week, or month) and be paid once the losses are recovered.

To cancel a copy trade, go to the list of active trades in the copy trading section of your Taurex account. Select the trade you wish to cancel and follow the on-screen instructions to stop copying the trade. You can also adjust your settings to stop mirroring the trading activity of the signal provider altogether if you no longer wish to copy any of their trades.

The minimum stake for copy trading with Taurex varies depending on the signal provider and the specific trading instruments used. Generally, the minimum lot size is 0.01. If your balance is not sufficient, the trade will not open. For detailed information, refer to the Terms and Conditions page related to copy trading.

Copy trading is a form of social trading where investors can automatically mirror the trading activities of selected traders, often referred to as “signal providers,” in their own trading accounts. This is not exclusively for new traders; anyone looking for diversification, time efficiency, or wishing to minimize manual trading can benefit. By replicating high-performing strategies in real-time, you can integrate varied tactics into your own trading portfolio.

To start copy trading with Taurex, simply download the Copy Trading by Taurex app and connect it to your MT4 or MT5 account. Then, choose a trader whose strategy aligns with your goals, decide on the amount you wish to invest, and start copying their trades. Copy trading is an easy way to diversify your trading strategy, while also engaging with a dynamic trading community.

Copy trading with Taurex offers numerous benefits. It provides access to a range of high-performing strategies and saves you valuable time by allowing you to automatically replicate the trades of selected signal providers. This approach also offers potential for diversification across multiple strategies.

You can simply visit the App Store or Google Play, depending on your mobile device, to download and connect to your trading account.