Forex4You (Share4You) Copy Trading - A Comprehensive Guide

Forex4You (Share4You) Copy Trading – A Comprehensive Guide

Forex4You, a popular brokerage firm, now offers its copy trading platform called Share4You, available as a mobile app and web app. Read this guide to learn more about Share4You before using the platform to copy the trades of professional traders.

Defining Copy Trading

Are you new to copy trading? If so, it is likely that you might be wondering what it means. Simply put, copy trading is a technique that involves one trader, usually a beginner, replicating the trades of another who is considered more experienced.

When you copy the trades of another trader, you will profit when they execute winning trades and lose when they close losing trades. In other words, copy trading does not guarantee positive results. However, it has proven to be a useful concept, more so for novice traders who lack the required skills to become successful.

Forex4You (Share4You) Copy Trading Platform

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The Share4You copy trading platform is well-designed to make it easy for traders to use. So, how do you access the platform? Simple! After creating a Forex4You account, click “Share4You” on the top bar menu.

Statistics of the Lead Traders

Upon accessing the Share4You platform, you will see several lead traders who allow Forex4You customers to copy their trades. To check the trading statistics of each, click on their profiles. These statistics are presented in various forms like pie charts, infographics, and graphs, among others.

One of the infographics offered is “Gain,” which shows the profits generated by a particular lead trader in different periods, such as in a day, month, 90 days, 180 days, or from day one.

But this information isn’t enough to start copying the trader. You need to understand their risk level to ensure that it matches your investment strategy. Luckily, Forex4You offers risk statistics for all traders. So, if you are a conservative investor, it is easy to select a lead trader who has a low risk level.

Further, Share4You displays the growth data of the lead traders. You can be able to see whether a trader has record progress over time or not.

Other lead trader statistics that you may find useful include trading tools used for analysis, details of all open trades, the total number of executed trades, and funds under management.

Share4You Chartroom

Share4You isn’t just a mere platform for copying trades. Instead, it is a social network for traders. The platform has a chatroom that allows strategy providers to interact with those who copy their trades.

How Do You Find the Right Lead Trader on Share4You?

To locate your ideal trader, we recommend using the Search tab, which comes with several helpful filters, such as the number of followers, gain, risk level, account age, and many more.

How to Start Copy Trading on Share4You

Step 1: Log in to your Forex4You account and click the “Share4You” tab.

Step 2: Press the “Add Follower Account” to create a dedicated copy trading account.

Step 3: Upon creating the Follower account, use the search tab to look for the right copy trader based on your investment goals. Make sure to check the minimum copy trading account required by the lead traders.

Step 4: After identifying your ideal trader, fund your Follower account. Forex4You supports multiple deposit methods like Skrill, debit/credit cards, and bank transfers.

Step 5: Allocate the required copy trading amount to the lead trader.

Step 6: Set a budget for each copied trade as well as take profit and stop loss levels, then click “Copy” to replicate trades of the lead trader.

Copy Trading Cost on Share4You

Lead traders charge varying commissions on successful trades. Forex4You, on the other hand, does not charge an extra fee to copy trades. You only incur a 0.5% trading fee.

Is Copying Trades on Share4You Safe?

Share4You is a reliable copy trading service, given that Forex4You is a regulated broker. The trading platform is licensed in the British Virgin Islands. However, it is wise to do your own research before signing up with Forex4You.

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