A Guide to JustForex Copy Trading – Everything You Need to Know

Users of JustForex are now able to get extra income using the broker’s copy trading service, which is offered through MQL5, a popular social trading platform. On MQL5, you will find several trading tools, and you can engage other traders in the platform’s chatroom.

Do you want to start copy trading on JustForex? If so, keep reading this article. We will help you find the right trader to copy and teach you how to get started.

JustForex Copy Trading Network

As mentioned, JustForex offers its copy trading service through MQL5. On this social trading platform, you will discover a list of more than 1,200 signal providers. But how much do you need to start copying trades? The minimum copy trading amount varies from one signal provider to another. In regards to the commission charged by these traders, it usually ranges between $1 and $1,000.

How to Identify the Right Trader to Copy

MQL5 offers several options for selecting a strategy provider. First, if you know the provider’s name, you can use the “Search” functionality to find them. Secondly, you can search for your ideal trader using special parameters such as maximum profit, intraday trade, profitability within 30 days, signal reliability, signals for copy traders with a deposit of $50 or less, and leverage.

Once you click on any of the parameters, MQL5 will sort the strategy providers from the highest to lowest. In case you find any trader that interests you, click on their name to examine their trading statistics. In their profile, you will find reviews of other copy traders. Go through them to know what they are saying about the strategy provider.

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How to Get Started With JustForex and MQL5

Of course, you need to register with these two platforms to start copying trades. Here is how you can create a JustForex account:

Step 1: Go to justmarkets.com and click “Create an Account.”

Step 2: Enter your country of residence and email, create a password, and hit the “Create Account” button.

Step 3: You will get access to a demo account. To open a live trading account, you will have to complete the Know-Your-Customer process.

Step 4: After completing KYC, you can now deposit funds for replicating trades.

Next, register with MQL5 by following these steps:

Step 1: Press “Create an Account” on the MQL5 official website and then come up with a unique username. Also, don’t forget to provide your working email.

Step 2: Click “Log In” to access your new MQL5 account. Note that you will use your MQL5 Login information to access MetaTrader 4, where Signal providers listed on the social trading platform carry out their activities.

To link your JustForex and MQL5 accounts, select JustForex as your broker on the MQL5 homepage and enter a code provided by JustForex.

How to Start Copy Trading

After linking the two accounts, start the process of selecting a strategy provider. If you are satisfied with the trading statistics of a particular provider, click “Subscribe.” Once you press this button, you will be required to define Stop Loss and Take Profit levels and allocate copy trading funds from your JustForex account. After doing this, hit “OK.” Use your MQL5 Login information to access the MetaTrader 4 platform to view the opened trades.

Can you Make Money Copy Trading on JustForex?

Yes! However, profits are not guaranteed. You risk losing money if your signal provider opens losing trades. Make sure you employ proper risk management techniques to minimize losses.

Is Copy Trading on JustForex Safe?

JustForex is regulated in Seychelles and Cyprus. Moreover, the broker employs sophisticated encryption mechanisms to keep user data and funds safe.

MQL5, on the other hand, is not regulated by any authorities. It doesn’t need a license to operate since it does not process or maintain client funds.

JustForex Geographical Presence

JustForex accepts customers from several countries. However, traders from the European Union region, the United Kingdom, the United States, and Japan are prohibited from accessing the broker’s platform.

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