Social trading Exness is the best choice for traders in the financial markets? Many users do not fully understand it and the benefits of this type. In the article below, EX Trading will help you refer to information about this trading method.
Understand how to trade Social Trading Exness
Social Trading or Social investing is a term to describe a community or social network. They are formed for investment purposes in the financial market. This is considered a new-generation investment solution born when internet technology thrives.
Essentially, Social Trading will allow traders to use trades previously made by a professional investor. Then use it as your investment method with the hope of having similar results. An investment method that is very suitable for traders with little time or experience.
Initially, Social Trading was mainly used for the foreign exchange (forex) market in parallel with the MetaTrader platform. Currently, Social Trading is not only in the foreign exchange market but also in many other markets: indices, commodities, bonds…
From the above explanations, can you understand what Social Trading Exness is? This is a social network or community created by Exness for traders to copy trading methods. People without experience will copy the trades of others with many years of experience. This copy or replication transaction is searched at Exness and executed right at the exchange.
Social Trading Exness and its Obvious Benefits
Social Trading is a new phenomenon in the world of foreign exchange investors. This may not seem difficult to understand if you deeply understand the advantages of the Exness trading social network. When compared to traditional self-trading or trust services, Social Trading is superior. Below is information that will help you understand the advantages of this form.
Great transparency
Partners in traditional trust types only through advertising. Whether they are successful or not you cannot verify but only hear through advertisements. Trust is not achieved in the form of trust because transparency is not guaranteed.
With Social Trading Exness, it is different, traders will be able to see the entire trading history of the leader (experienced investor). Because they are announced publicly and transparently. Traders will rely on that information for reference and then choose. The leader’s order details are transparent, the Exness broker ensures this.
Have full authority to decide on equity
If you choose traditional trust investing, you will hand over your equity or account to another person or intermediary. At that time, the right to control and decide is lost, so the risk is always very high. But Social Trading Exness works in such a way that you are the owner of the capital and have full control. All activities of the leader are checked by you by the trading copier.
You will be the one who knows what the leader is doing with your money. Because Exness gives you full rights to view history and intervene in each order. Or turn off the copy trading feature when you want. The funds in the trader’s account remain under control and do not go to other people’s accounts.
Social Trading Exness is highly effective
Participating in the foreign exchange market is mandatory and there will be times when you need to accept losses. Especially for new and inexperienced traders, the loss rate is higher. But if you join Social Trading developed by Exness, things can be easier for you.
Copy trades of investors who have market skills and experience. They may not achieve 100% or 200% returns, but at least they help new or less knowledgeable traders not to lose money. This is also a way for you to understand trading and gain more real-life experience.
Reasonable cost
Social Trading Exness has very low costs and compared to traditional trading can be considered insignificant. Regular investments will cost you 10% – 50% of profits and sometimes come with unpleasant fees. But with Exness’s social trading model, the cost is zero when it comes to copying.
Because Exness collects commissions when copy orders are executed. Therefore, the exchange will not charge additional copying fees or other hidden fees. Another benefit is that you don’t have to sit at the computer constantly, so you don’t need to spend money on high-value technology equipment.
Social Trading Exness should or not?
Once you understand the Exness trading network, you will be able to evaluate for yourself whether you should participate in this type of transaction. Below we will summarize the points worth participating in this type for your reference.
- The amount is modest, don’t worry because Social Trading does not need too much capital.
- Exness provides a transparent, secure Social Trading platform with millions of users.
- Have full rights to choose leaders to copy transactions, and have the right to allocate ownership funds,…
- Monitor and adjust allocated capital, and have the right not to copy any trader’s transactions.
>>>See more: Create Exness Account: Instructions for on your phone
Instructions for trading with Exness Social Trading
Once you have decided to use Exness Copy trade, you will need to know the steps to follow. Below are specific instructions for you to be able to copy transactions most accurately and safely.
Step 1: Download the Exness app
Step 2: Log in to Exness trading
If you already have an Exness account, you just need to select “Register” at the login interface => Select Login with Exness, and fill in the login information. If you do not have an account, please register to access the exchange.
The basic notes when registering are to select the Country as some countries, enter your email, and click Continue which is quite simple. The next step is to click Verify Profile to start the identity verification process before making transactions.
Step 3: Deposit money into Social Trading Exness
To be able to copy other traders’ transactions, of course, the first thing you will have to do is add money to your wallet. The deposit steps are very simple, similar to depositing into Exness and other exchanges.
After logging in, click on the wallet icon click on TOP UP, and select the method. There are many options from scratch cards, visas, etc. But you should choose to use Internet Banking because of its convenience, speed, and flexibility.
Step 4: Choose a personal trading strategy
After depositing money into your wallet, you choose for yourself the leaders with the highest transaction efficiency. At the Exness interface, we suggest you commonly used strategies. However, you need to have financial knowledge to evaluate investment effectiveness. There will be important parameters to evaluate such as:
- Profit level: This will be an important indicator showing the investment efficiency of the strategic supplier.
- Exness commission: The % of interest you have to pay if you make a profit using that provider’s strategy.
- Investors: Indicates the number of people who are following and copying their trades.
Frequently questions asked
These questions are asked by many traders before entering copy trading. We have compiled the most commonly asked questions and answers below.
Does Social Trading Exness burn your account?
It is entirely possible to burn your account because the trader you choose uses high leverage and uncontrollable risk. Whether the trader lets you copy or your account can completely burn out.
How much is the minimum copy trade amount?
The minimum investment amount depends on the leader you choose to copy and at Exness is $10-200,000. This is the minimum you need to have in your wallet to use this method.
Can an individual copy multiple strategies?
Yes, you can copy multiple strategies at a time, but you only need enough money in your wallet. However, we recommend not implementing too many strategies at the same time, it will be difficult for them to be effective, and it will also be difficult for you to control the transaction.
Conclude
Social Trading Exness is an optimal trading choice for many investors. EX Trading‘s article has helped you understand this form of trading and the benefits it brings. Hopefully, Exness will be enough choice to help you feel secure and deposit money for long-term use.
>>>See more: Exness social trading: Trade efficiently and attractively
