Copy Trading: The next big thing in India

Siby Varghese is a successful entrepreneur, wealth consultant & an award winning portfolio manager. He has a stellar reputation in the trading sector owing to his more than 10 years of experience. His knowledge and expertise in this industry have enabled him to effectively assist numerous traders in achieving their objectives.

Here in this article Siby has shared his views on how Copy Trading will be the next big thing in India.

What Is Copy Trading?

Copy-trading refers to the process of allowing individuals to copy or replicate the trades of other professional traders in their Demat accounts by authorising them using APIs.

If you imitate the appropriate group of traders, copy-trading is one of the easiest and most successful ways to get a regular stream of income from financial markets without investing a lot of time or effort in researching the markets or charts.

Advantages Of Copy Trading

● There's no need to spend time or effort studying markets or charts.

● For novices, this is a viable alternative.

● Working employees or students may choose this alternative because they are likely to be occupied during market hours.

● It's preferable to trade calls, where you may join after the actual movement has occurred.

● It's safer than PMS since your money isn't handled by anyone.

● Because you are mimicking an expert trader, you have a better possibility of making good gains.

How Does Copy Trading Work?

It is a style of trading mode that is automated. For replicating trades, there exist specific platforms. You join up for such a platform, pick a trader to be a signal provider, and subscribe to that trader's trading signals.

Following that, all of this provider's transactions are automatically replicated in your account:

● You can copy the provider's whole transaction history.

● You can also impose limits, such as limiting the number of transactions per day or the percentage of the involved deposit.

● You have the option to cancel an agreement if it does not suit you.

How Does Copy Trading Work?

It is undeniably essential to pay to copy the indications of other traders. A trader gets a percentage of the profit or establishes the cost of services for each transaction.

Following that, all of this provider's transactions are automatically replicated in your account:

● You can copy the provider's whole transaction history.

● You can also impose limits, such as limiting the number of transactions per day or the percentage of the involved deposit.

● You have the option to cancel an agreement if it does not suit you.

It is undeniably essential to pay to copy the indications of other traders. A trader gets a percentage of the profit or establishes the cost of services for each transaction.

The platform on which the copying takes place is profitable as well. It might be a fraction of the cost of the subscription. To attract providers and subscribers, copy platforms collaborate with brokers. As you can see, it's a company in which everyone should profit.

Some Best Copy Trading Platforms

Zerodha and Aliceblue are the leading platforms that have a copy-trading facilitative infrastructure.

There are a multitude of copy trading brokers available, each with their own proprietary or third-party copy trading platforms. Some cryptocurrency brokers and exchanges, such as Coinbase and Binance, are catching up and starting to provide their own social and copy trading features.

Above we've compiled a list of the finest brokers that offer copy trading platform with sophisticated APIs . Always remember to conduct your own research to determine which option is best for you.

How To Be A Successful Copy Trader?

If you're thinking about starting copy trading, the first and most important thing you can do is devote a significant amount of time to learning the fundamentals of trading. The next stage is to comprehend the significance of money management and its function in technical plan implementation.

You will learn how to examine and evaluate the signal provider's performance, how to correctly apply leverage, and how to build a successful copy trading strategy that will assure sustained gains over time as you learn more about copy trading.

It's easy to generalise and make a blank statement about anything, but using your expertise to your advantage, you can overcome the odds and convert copy trading into one of the most viable passive income streams.

The Final Words

For newbie traders, copy trading is excellent. It allows you to trade the market more effectively and potentially make money.

Overall, copy trading is a great way to get started with trading. When you understand how things operate, you may decide to quit copy trading. But at the start, while learning to trade in India, you should go for Copy Trading, Suggests Siby.

To learn more and to stay updated with the latest market happenings, visit https://www.sibyvarghese.com/ & get in touch.

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