A Comprehensive Guide to NPBFX Copy Trading

Copying the strategies of established traders is an effective way for beginners to make money in the financial markets. In an attempt to attract novice traders, several brokers, including NPBFX, now facilitate copy trading. Keep reading this guide to learn how to start replicating trades of seasoned traders on NPBFX.

Introducing NPBFX

NPBFX started its operations in 1996. NefterPrombank ran the broker during its early days before selling it. For 20 years, the Bank of Russia regulated NPBFX. However, in 2017, the brokerage firm decided not to renew its license with the financial regulator and became a Financial Commission member.

The Financial Commission is an independent international institution that resolves financial disputes and offers insurance coverage of up to €20,000 per trader.

Given its history of being regulatory-compliant, NPBFX has gained the trust of many traders. Moreover, its services cater to all types of traders. So, whether you want to earn passively or engage in active trading, NPBFX has you covered.

start trading

NPBFX Copy Trading

Unfortunately, NPBFX does not offer its copy trading service on its platform. Instead, the broker collaborates with well-known copy trading providers AutoTrade and ZuluTrade.

Copy Trading on ZuluTrade

With ZuluTrade, you get access to over 1,500 professional traders to copy. The platform comes with several features that allow users to manage their copy trading accounts and set trading parameters, such as take profit and stop loss levels. What’s more, ZuluTrade has a chatroom that allows users to engage each other.

Benefits of ZuluTrade

  • ZuluTrade has a feature called ZuluGuard, which shields users’ funds from high-risk trading strategies.
  • The platform lets you copy trades any time, any day.
  • Your orders are executed quickly and automatically.
  • ZuluTrade has a demo account that allows you to test the platform’s features before committing funds.
  • This platform employs automated risk management. This means if you forget to set your stop loss, ZuluTrade will automatically set one for you, depending on the copied trader’s performance.

How Copying Trades on NPBFX via ZuluTrade Works

First, you need to connect your NPBFX and ZuluTrade accounts. To do this, follow the on-screen instructions on the ZuluTrade platform. After that, select the trader you wish to copy and allocate some funds from your NPBFX account. Next, set trading parameters and click the “Copy” feature. The trader’s positions will now be copied automatically to your account. Note that you will pay a 10% commission per each successful trade.

Copy Trading on AutoTrade

MyFxBook, a well-known player in the online trading industry, is the firm behind the AutoTrade copy trading platform. Compared to ZuluTrade, AutoTrade offers more statistics for analyzing traders you wish to copy.

Benefits of AutoTrade

  • AutoTrade gives users full access to trading statistics of all strategy providers.
  • The platform has a user-friendly interface, making it perfect for novice traders.
  • You can use a demo account to try out the AutoTrade’s features.
  • Copy traders can become lead traders after gaining trading experience.

How Copying Trades on NPBFX via AutoTrade Works

Like ZuluTrade, AutoTrade will require you to connect your NPBFX account with the platform. After doing so, evaluate the traders’ performance using the statistics provided and pick one that aligns with your investment goals. Next, specify the amount of money you wish to invest and press “Copy Trades.” Be sure to monitor all opened positions from your NPBFX account.

How to Open an NPBFX Live Account

Getting started with NPBFX can’t get easier than this. Here are the steps to follow:

Step 1: Go to my.nmarkets.org and click “Register” on the homepage.

Step 2: Enter your full name, email, and phone number, then press the “Register” button.

Step 3: Access your new NPBFX account and hit the “Open Live Account” button.

Step 4: Provide your KYC details and wait for verification.

Step 5: Upon verification, deposit funds to your new live account.

Since you now have a funded account, NPBFX will allow you to start copying trading on either AutoTrade or ZuluTrade. The broker will give you the details you can use to connect your account to any of the two copy trading platforms.

start trading

Leave a Reply

Your email address will not be published. Required fields are marked *