Raceoption Copy Trading: How to Make Money by Copying Trades on This Platform

Raceoption Copy Trading: How to Make Money by Copying Trades on This Platform

Novice traders around the globe are now making substantial income by copying the trades of professional traders. You do not need a high trading experience to start copying trades. This explains why the concept is more popular among beginners.

Several well-known brokerage firms allow users to engage in copy trading. Among them is Raceoption. In this article, we will focus on this broker’s copy trading service. Keep reading to learn about Raceoption’s copy trading functionality and the rules you must follow to begin copying trades.

Understanding Copy Trading

Copy trading can be manual or automated. This concept allows traders, especially inexperienced ones, to replicate the trading strategies of experienced traders. Those who let others copy their trades usually earn a commission from every closed profitable trade. Many brokers allow users to copy trades in various markets, including Forex, indices, crypto, options, and many more.

How to Open a Raceoption Account

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Before replicating trades on Raceoption, you need to register a trading account with the broker. Luckily, the registration process is simple and takes less than ten minutes. Here are the steps to follow to create a Raceoption account:

1. Go to Raceoption.com and click “Register.” A registration page will then open. Key in details like your phone number, name, email, and account currency, and create a strong password.

2. After that, read and agree to the terms and risk statement, then press the “Next” button. The page that opens will display various accounts to choose from. These accounts include:

Bronze account: It comes with several benefits, such as a copy trading tool, a demo account, withdrawals are processed within an hour, 24/7 customer support, and a 20% bonus.

Silver account: Benefits attached to this account include a 50% bonus, 24/7 customer support, a copy trading tool, a demo account, withdrawals are processed in less than an hour, and a master class session.

Gold Account: If you choose this account, you will enjoy benefits like a master class session, access to a personal success manager, a 100% bonus, withdrawals are processed within 30 minutes, a demo account, and a copy trading tool.

3. After selecting your preferred account, the next step is to fund it. Raceoption supports several payment methods, including crypto transfers and credit/debit cards.

How to Begin Copying Trades on Raceoption

Follow these simple steps to copy trades on the Raceoption platform:

1. On the homepage, click the “Copy Trading” button on the left.

2. A page showing the top ten strategy providers will open. Raceoption displays their name and weekly profit percentages.

3. Choose your preferred trader, allocate funds, set the trading parameters, and press “Copy.”

How to Identify the Right Lead Trader

Selecting the right lead trader makes the difference between losing and earning from copy trading. That’s why evaluating every strategy provider before copying their trades is crucial. Here are the factors to consider:

Number of followers: It is recommended to copy a lead trader with a massive following as it shows that copy traders trust them.

Consistency: Follow a lead trader who closes profitable traders consistently.

Risk score: Understand your risk tolerance and copy a strategy provider who matches it.

Activity level: Pick an active trader. That means the selected trader should be able to trade under any market condition.

Raceoption’s Copy Trading Costs

Raceoption doesn’t charge customers to use its copy trading service. The broker only charges trading fees. As mentioned earlier, a commission will be deducted from your profits to pay the selected lead trader. The minimum amount required for copy trading is $250.

Is Copying Trades on Raceoption Safe?

All trading methods carry risks. That means copy trading does not always guarantee profit. Therefore, even if you copy a profitable trader, you must employ proper risk management measures to avoid blowing your account.

Regarding regulatory adherence, Raceoption is regulated by financial authorities in the Marshall Islands. With all said, do your due diligence before signing up with Raceoption.

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