OctaFX Upgrades Copy Trading Service With New Risk Rating
OctaFX has introduced an impressive new feature to its popular copy trading service. Clients can now select Master Traders based on an innovation that measures how risky a trader’s strategy is. Previously, clients could only select traders to follow based on how much profit they make and how popular their strategy is. With the latest upgrade, users can find a strategy that complements their risk appetite.
New Risk Rating
The challenge with copy trading has always been finding a suitable trader to follow. Get it wrong and you can end up losing capital. That’s where the broker’s new risk algorithm adds value.
The risk score is calculated by analysing a trader’s average profit, volume of trades, and the stability of their strategy. The risk rating ranges from 1 to 6 with a 1 or 2 indicating a stable, less risky strategy.
How Copy Trading At OctaFX Works
Copiers can browse the broker’s list of professional traders, known as Master Traders, who let users replicate their market positions. When a Master Trader buys Bitcoin, for example, the position is automatically replicated in the copier’s account.
Copy trading at OctaFX is available in a few clicks on the broker’s bespoke mobile app. Once clients have registered for an account, they can start mirroring the positions of other investors in a few minutes.
Copy trading is an excellent way for beginners to learn about the financial markets while hopefully generating revenue.
About OctaFX
The CySEC-regulated forex and CFD broker serves traders from all over the world, with more than 1.5 million accounts opened since it launched in 2011. Both MetaTrader 4 and MetaTrader 5 are available in addition to the popular cTrader solution.
28 forex pairs, 10 indices, precious metals, plus a handful of top cryptocurrencies such as Bitcoin are available. High leverage rates up to 1:500 are offered to live account holders, though EU traders are capped at 1:30.
The copy trading application is available on mobile devices and includes the Master Traders leaderboard in addition to facilitating in-app deposits and withdrawals. The latest risk feature is an excellent upgrade and will give traders peace of mind when selecting investors to follow.
