Q & A
Copy trading means automatically replicating the trade strategies and positions opened by an other traders on your account. For instance, if a trader has bought a certain share CFDs at £145.50 with a take profit order at £148.40 and stop-loss at $144.10, you could automatically copy this trade and open it in your account. The copy trading software will let you customize this trade by adjusting the trading amount and stop-loss levels. However, you should understand the associated risks before you start copying other traders.
Yes, copy trading is legal in the UK.
Social trading involves observing how other investors work and learning from them through monitoring their trade behaviour. Copy trading and mirror trading, on the other hand, involve copying the other investors’ strategies and replicating them on your trader account.
There is no standard amount on how much you can make copy trading in the UK. It will be massively dependent on such factors as the other trader’s win rate, frequency of trading, the trade amounts, instruments traded, trading fees, and markets in which you trade. It is important to note here that profits are not guaranteed, and any past performance is not a guarantee for future returns.