Forex Social Trading With Tradeo – Automatically Copy Top Traders
1. What is Forex Social Trading?
Social Trading is a new form of trading that allows forex traders across the world to link and share trading information with each other in real time. Importantly, social trading enables new or inexperienced traders to follow, copy, analyze and learn how master traders execute successful trades.
The most useful feature of social forex trading is its capability to copy trades of top performing traders automatically in your account as a newbie. If your selected top performing traders make a profit, you also make a profit. Unfortunately, the opposite is true as well, if the traders lose money,.
2. What is Tradeo?
Tradeo is a registered Forex Trading company with a social trading platform that allows forex newbies to automatically copy trades of experienced and successful forex traders.
It empowers new traders to safely venture into the world of forex trading and massively increases their chances of success and profit making with its state of the art copy trading system.
3. Is Tradeo Licensed by Authorities?
Tradeo was founded in 2012 and is headquartered in Malta. It is operated by UR Trade Fix Ltd (CySEC 282/15), a fully licensed Investment Services Company authorized and regulated by Cyprus Securities and Exchange Commission. (CySEC).
I am giving this background information, so you understand that Tradeo is a proper and a legitimate company, not a scam. There are many forex trading scams or unethical forex trading companies out there, so you should be careful where you invest your money.
Tradeo is an STP company, meaning that it does not trade against its clients. It automatically passes its trades to external liquidly brokers (banks and larger brokers). It has chosen this business model because it wants its traders to succeed so it can attract more clients.
Tradeo offers quality support service to their traders. Many channels are available to communicate with their staff – live chat, email or telephone.
4. How Does Forex Social Trading Benefit a Forex Newbie?
Social Trading is beneficial to a newbie because it enables him or her to make successful trades without forex trading knowledge. A new trader who is learning forex trading can be followed, tracked and guided by expert traders who are coaching him or her.
Moreover, expert traders can do all the forex trading fundamental and technical analysis and share results in real time for newbies to use in executing their trades.
Social trading is a great platform for newbies to learn forex trading while making money.
5. How Does Tradeo Work?
Tradeo is easy to use. To get started, sign up with Tradeo and deposit funds (minimum $250) into your trading account.
Tradeo accepts deposits from a credit or cheque card, Skrill or Neteller account, or direct wire transfer from a bank. You can withdraw funds from your trading accounts anytime.
Once your account is set up, you invest a part of your trading account into your preferred top trader by copying their trades proportionately.
To copy a trader is very easy, all you have to do is navigate to your preferred trader's account, and click “Copy account” button.
That’s all you do. Whether you’re sleeping or at work, whatever your master trader is doing to his account, it will also automatically happen to your account as well.
That’s why copy trading is grown so much in the last few years. You are copying the best traders, while you are still in full charge of your account.
6. Can You Really Money From Tradeo?
Yes, by copying top performing traders, you can easily make money based on their top notch trading skills.
The key to success in Tradeo is to select the correct traders. Select traders who have an excellent performance stats and track records. Do not select a reckless trader who takes way too much risk.
7. Can You Lose Money With Tradeo?
Yes, you can lose money with Tradeo. Tradeo is just a forex trading medium. With forex trading, there are always losers and winners. If you copy a careless or an unskilled forex trader, then you will lose money. Or if your trader has a streak of bad luck, then will also lose money.
If you select an experienced, low-risk trade, you will make money. But you must bear in mind that even expert forex traders lose trades at times. So there will be times where the best trader loses money, and when he loses money, you will also lose money.
8. Is Tradeo A Get Rich Quick Scheme?
No, Tradeo is not a get rich quick scheme. It is a platform for people who don’t know how to trade to make money from trading. Treating Tradeo as a get rich quick schemes means taking high-risk trades and recklessly exposing a large portion of your funds to potential losses.
You must follow a proper risk management strategy by exposing a small amount of your account to trading, allowing profits to grow steadily while keeping losses to a minimal to protect your trading account from getting blown.
Just because you see your trading account performing well for a few consecutive weeks, does not mean you should take all your savings and put them into forex trading – that would be bad risk management.
Ideally, start with a small sum that you can afford, say $250 to $1000, if things go well, perhaps you can add more funds if you have lots of spare cash. But it is better to compound your earnings than to add more money to your trading account.
9. Tradeo Testimonials
Many people who have lost money in forex trading believe that forex trading brokers are evil and are out to get them. The opposite is true for Tradeo; it is one of the few Forex Trading companies that is strewn with praises all over the internet for professional and quality services it offers to its traders.
At this point, I pretty much take it for granted that sites can do what they say. Maybe it sounds a little shallow, but that’s not really enough for me. Design is important! I like sites that look good, too.
I thought it would be hard to get started, but they really made it easy. Once I picked a few leading traders to copy, it was all automatic - now I just sit back and watch them trade for me!
10. How does one know which trader to copy?
If you understand the basics of Forex Trading, you should look at the performance data provided by the platform to pick a good trader.
It is a newbie work to look at a trader’s portfolio and track record before selecting him or her for copying.
You need to see their strategy, how successful they are, and what risk management style they exhibit.
Results show that people who carefully choose their traders based on statistics and portfolio tend to be more successful.
So what it means is that to be successful in copycat social trading, you must pick the right traders. In fact, that’s a difficult part about social trading; it is about choosing or selecting the right traders.
If you are new to Forex Trading and do not know how to interpret a trader’s performance, no problem, Tradeo has supportive and accessible staff who, at your request, will advise you how to go about selecting traders to copy depending on your account balance and risk appetite.