Reuters - Video

EDITION: U.S. | U.K. | IN

Investing 201

Copycat currency trading

Wednesday, Oct 02, 2013 - 02:28

Forex trading is the hardest game out there. But now there's a way to boost your chances: simply copy the best. Fred Katayama looks at the online trading platforms that let you mimic those who know when to sell sterling and buy yen.

▲ Hide Transcript

View Transcript

From -- from the perspective of studying Europa 120 on studying euros I think that he for the heroes betting -- -- -- of gamma essentially no one's got -- try to. There's no doubt understanding foreign currencies is hard and now there's an easy way to treat them. Just make the same move that experts group. Several online trading site and I'll -- copy -- automatically replicating experts rates for your account. Like this you choose from a list of experienced traders some wrote some amateur. You can see -- strategies past -- performances and profile. On the biggest -- trading platform in portal. Zeal of Romania who goes under the names -- 600. Has more than 17100. People copying her -- perhaps attracted by the 40% gain she's racked up over the last six months. -- percentage of your capital to each trader you choose who platform that automatically. Creates that copy those of experts here following. Or depending on the platform you can manually choose which trades and Javier Aponte a senior analyst at IT group studied the industry and says hand holding. Works can. Be treating him. -- the first six games and actually. Which costs for copycats there. Zero upfront that he total but it's priced end because he total gets a cut of the -- ask Brett. I currency you pay 2% in maintenance fees and 20% of the profit of -- -- three fourths of which goes to the trader you're following. Despite a higher costs. -- recommends the site currency because all 23 other traders are professionals who have been rigorously screened. Unlike other platforms which allows amateurs to be followed. We have an extensive due diligence process and we search there trading styles and behavior. We try to understands people -- kind of self discipline they have. We obviously -- performance metrics to see the amount of money they've made over time. But it also what risks they take that money it's important to him not risking too much of their -- to get the performance. Among the risk. Expert traders can be highly leveraged. The -- recommends that newcomers like slowly when you only a small portion of their capital for -- trade until they get -- experience.

Copycat currency trading

Wednesday, Oct 02, 2013 - 02:28

Top News »

Money »

Moving Pictures »