MetaTrader was introduced to us when online trading needed a more innovative system, and since its inception, it has performed tremendously and has helped a lot of investors make some profitable investment decisions on the platform. Becoming a trader with the MetaTrader 5 (MT5) trading platform is pretty easy and straightforward, and if you pay attention to the various analytical tools on the platform, there is a high probability of you enjoying some level of profitability from the platform. There is an added advantage to using the MT5, and that is the fact that you can copy the trades of experts who are doing well on the platform, and it does not matter whether you are a beginner or expert, and this is possible with the aid of the trading signals feature that is available on the MT5, and furthermore, it functions as the perfect solution that can facilitate a successful trading.
Copying trades of successful traders is what a lot of traders do on the platform, as it saves them a lot of time, and furthermore, copying MT5 trades is easy, and you only just need to find a successful trader to begin, and the rest of the setup is easy.
In this post you will learn how to successfully copy trades on the MT5 trading platform, such that your profitability will speak for itself. Before we go into the processes involved in copying the trades, here are some things you need, that will facilitate the whole copying process:
You need to install the MetaTrader 5 (MT5) trading platform, and also have a trading account that is active. Download the Cryptocurrency sync version with i-Pandora online at https://i-pandora.com.
You need to ensure that you get a valid MQL5 account, from the website MQL5.com.
After creating and validating your MQL5 account, it is imperative that you have sufficient funds in it, or on your e-wallet or bank card, as it helps you deal with the fees attached to the signal subscription.
When you have successfully met the requirements for copying the trade, you may decide to select a signal that is appropriate, and you will find these at the showcase part of the platform. It is imperative that you carry out a review of the sum of all the trades, including their growth level, profitability, and various other characteristics needed for the proper evaluation of the efficiency of the signal. As earlier mentioned, the first step is to identify and select a trader that has an excellent trade record, as it makes it much easier for you to reckon with that, and there are chances that there will be some improved profitability for you.
Whenever you need to pay for the subscription of the signal you are tied to, it can be done with the MQL5 account, or via other payment systems that are popular. It will interest you to know that the signals service feature of the platform accepts different types of payments, including MasterCard, Visa, UnionPay cards, ePayments, Neteller, WebMoney, and PayPal. Hence, you are at liberty to carry out your payment transactions using the method you prefer.
The last step in this copying configuration process, is to have the copying parameters set up. It is imperative that you properly define the amount you deposit specifically for the signal trades, and also to indicate the minimum deposit point where the copying is expected to stop, as well as the spread value of the transaction. Please note that copying of a successful trader’s trade can only begin when the required parameters have been specified.
After copying the trade, an analysis can be done on current and completed subscriptions, and this can be done from the tab that reads “My Statistics”. The information seen on the tab is essential if you intend to monitor just how efficient the trade signals are, and how to better manage the subscriptions.
Trading has never been easier than MetaTrader 5 (MT5) has made it, and you are guaranteed about its profitability, because the system is automated. The moment you begin copying the trade signal of a successful trader, then you are on your way to also becoming a successful trader, because you do not have to break a sweat, as the automated system will begin dealing with the trades automatically, like a professional trader. Do not wait, all you have to do to begin, is simply to download the MetaTrader 5 (MT5) platform, and begin the simple task of copying and subscribing to the trade signal of a trader with a successful trade record.