Copy Trading in Nigeria: A New Way to Invest – ABCmoney.co.uk

If you live in Nigeria, and have been thinking to invest in a dynamic platform, but clueless about how to begin, there is a way, and a lucrative one. With the wider reach of digitized investment platforms and foreign currency exchange, investors from Nigeria can effortlessly gain through a system called “Forex copy trading” or “Social trading.” By following this defined and automated system, you can generate significant earnings.

The basic concept of copy trading revolves around replicating or copying trading strategies of successful investors in the Forex market. Besides, this platform allows new investors to copy multiple traders, which diversifies the portfolio, resulting in lower risk.

The good news is copy trading is here to stay. According to a recent survey, the copy trading market is likely to grow to €70 billion by 2025 (At a yearly growth rate of 48 percent).

To start copy trading, select a reliable and profitable platform with a proven track record of providing a transparent trading system through sharing investment strategies. You can copy their trading strategies with one click after checking their investment history.

More Insight into Copy Trading

In short, copy trading or social trading platforms enable investors to copy successful trades by experienced investors, who have raked substantial earnings by implementing their strategies. Due to the automated system, copy trading is also called “auto-trading.”

Copy Trading System (Source: almvest.com)

You can invest through copy trading across all the major markets, such as FX, stocks, indices, and commodity markets. More than 85 percent of Forex transactions happen using the currencies, including GBPUSD, EURUSD, USDCAD, USDJPY, USDCHF, AUDUSD, and NZDUSD.

Copy trading is one of the simplest ways to leverage the knowledge, experience, and skill of experts to earn a good income.

How Exactly CopyTrading Works?

There are mainly two ways of doing it.

1. Replicating the investment strategies of successful traders and earn well

It is for those investors who want to invest in a copy trading strategy, following expert traders.

  • Select the strategies of expert traders.
  • Copy their trading strategies.
  • Get the same percentage of return as the expert trader without any professional trading knowledge.

Benefits:

  • Simple system: The copy trading system is so simple and user-friendly that you do not need any expertise in trading. You only need to replicate the strategies of seasoned traders.
  • Flexibility: All the trading strategies are available on the web-based platform for copy trading Risk Allocation Management Model (RAMM) or in the mobile app on iOS as well as Android devices.
  • Easy to select a strategy: You can select a successful strategy after checking the ranking list. Check the suitability of the strategy based on the factors such as income potential, percentage of commission, age of the strategy, etc.
  • Keeping control of your funds: For trading, you do not need to transfer your funds to the management of the trading platform, and worry about them. The money stays in your account.
  • Income multiplication: A leading copy trading platform will have a multiplier, which will enable you to increase your earnings up to 10 times or minimize your losses.
  • Transparent fees: You will only pay fees to a trader when you earn a profit after using his/her strategy.

2. Creating Investment Strategies and receive high income when others copy your strategy

This method is for expert traders who can create strategies and earn from investors’ profit, who follow those.

  • Create investment strategies on a copy trading platform.
  • Earn from the investors’ profit when they copy your strategy.
  • You may earn up to 50 percent of investors’ profit as a trader’s fee.

Benefits:

  • Your strategies can easily attract investors: Mostly, the minimum opening deposit required is $100 for a copy trading account. Such a low deposit amount attracts many investors.
  • Auto trading system: Thereis no need to adjust new investments in your trading. The entire system is fully automated.
  • Receive weekly payments: The auto trading system checks and calculates investment results weekly and transfers your earnings as a trader’s fee to your account.
  • You can decide the percentage of profit yourself: When formulating a trading strategy, you can decide the percentage of investors’ profit for protection.

What Financial Authorities Say about Copy Trading?

  • A report by the World Economic Forumillustrated social trading networks as disruptors, which provide sophisticated, low-cost alternative to traditional wealth management. Social trading caters to a broader customer base and empowers investors to have greater control of their wealth. This system also poses a tangible threat to the conventional ways of managing wealth.
  • Financial Conduct Authority or UK FCA expressed its view on copy trading as a portfolio or investment management where no manual input is required from an investor. Also, copy and mirror trading fit the MiFID Directive.

Closing Words

Before signing off, it is important to say that even the more streamlined copy trading is not a get-rich-quick scheme. Regardless of which trading platform you use, there is no such thing as a risk-free investment.

Although successful investors will serve as guides, traders should always try to improve their ability to evaluate risk and value, diversify to reduce losses, and receive high returns. Check out this copy trading platform in Nigeria that is easy to signup, simple to follow, and provides good earning opportunities.

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