Imagine that you want to purchase a stock of a company. You must be aware that buying a stock necessitates a thorough fundamental analysis of the business, price movement analysis, trading volume analysis, momentum indicator analysis, and much more. However, not everyone has the time or expertise to study complicated charts and conduct in-depth analyses; hence, Copy Trading comes to the rescue for such users.
Copy-trading, as the name implies, is the technique of mimicking a trade practice of an experienced trader with a demonstrated track record of high returns. It enables you to get comparable returns to those of a professional trader without performing any laborious analysis.
Since no trader/investor is perfect, copy trading comes with its own set of risks, but copy trading can reduce the majority of the risks you would have incurred if you had traded based on your own expertise rather than that of an experienced trader. It’s akin to putting your trading activity on autopilot with low risk.
Copy trading is simple since you may do it on your own by following your favorite traders, or you can use the services of a stockbroker who applies the copy trading mechanism to your trading operations.
Overview of Banxso
Banxso is an innovative multi-asset trading platform that offers financial support and services in the areas of equities, commodities, indices, and cryptocurrencies. It enables consumers to invest in financial assets with little effort and specialization.
In addition to being an investment platform, Banxso assists its customers in making financial decisions by educating them on successful investing and insights from top specialists. Also, it is regulated by the South African Financial Sector Conduct Authority and follows European and global guidelines, making it one of the safest online trading platforms accessible today.
Banxso provides a range of platforms to meet the demands of many types of investors for their financial goals, namely Banxso X, MetaTrader 4, MetaTrader 5, and Banxso’s Mobile platform. Let’s take a quick look at each of these.
Banxso X
Banxso X is a new-age cutting-edge platform that caters to traders across all levels of expertise. It offers a free library of extensive training resources and seminars for newcomers to the investing world and an appealing range of assets, sophisticated analytical tools, and research insights for advanced-level traders.
Furthermore, TipRanks is another fantastic characteristic about Banxso X. TipRanks is a powerful amalgamation of smart research, data insights, and investment tips for Banxso users. It offers complex charts, stock analysis, expert opinions, and a lot more.
MetaTrader 4 & 5
Unlike Banxso X, MetaTrader 4 and 5 are standard enterprise-level trading platforms that include all of the advanced features required by an expert trader. It includes interactive charts, in-depth studies, technical indicators, and much more. While MetaTrader 4 is only for Forex, MetaTrader 5 is an improved and more comprehensive version that also offers services in stocks, currencies, and futures in addition to Forex.
Why MetaTrader 5 Is Perfect for Copy Trading?
Successful traders on Banxso often provide public visibility to their transactions in the financial markets. MetaTrader 5 has a feature called “Signal” that enables for copy trading. Users can subscribe to Signals of their favorite traders to replicate their transactions on their own accounts. This feature is ideal for Copy trading.
Aside from trading signals, MT 5 has 38 technical indicators, 44 graphical objects, 21-time frames, an economic calendar, an Email system, an embedded MQL5 community chat, unlimited symbols, and many more features than its predecessor.
Conclusion
The customer-centric and technologically sophisticated approach of Banxso is undeniably impressive. This is particularly true for a Copy Trader since wonderful features like Trading Signals and Multi-currency Strategy Testing on MetaTrader 5 are absolutely suitable, highly reliable, and incredibly lucrative.