Many traders wonder about FBS copy trade minimum deposit. The answer to this question is not complex. FBS offers many competitive accounts for traders. Therefore, you can open an account with as little as $1. However, the big question here is related to the amount itself. Is it serious that a trader can make money with $1? the answer is clear.
So what is the minimum deposit for FBS copy trade?
The answer can vary from a trader to another. The first thing to take into account is the financial situation of the trader and his experience. If the trader has experience and generally has gained some serious amount of money in the past, the minimum deposit amount can vary from $2,000 to $10,000.
However, if the trader is a newbie, depositing $2,000 from the beginning will be a risky investment. Therefore, the priority should be given to safety. A new trader shouldn’t invest money that he cannot afford to lose. the best amount to deposit then can vary from $500 to $1000.
The third category of traders is those traders who come from third world countries. In general, the exchange rates in underdeveloped countries are very high. As a result, $500 can mean a lot of money for some. The best amount to deposit can be something between $100 and $500.
Is FBS copy trade minimum deposit matters?
In today’s world, youngsters want to get rich quickly. As a result, they take serious risks and they invest a lot of money without estimating the real dangers related to the trading environment. It is true that copy trading comes sometimes with huge benefits, but also has its cost. Nothing for free in today’s world.
FBS copy trade minimum deposit matters when you estimate the risk. You evaluate the trader to copy and you know exactly what you are doing. in the present paper, we are going to give you some advice to shed light on some mistakes that can help to avoid any potential loss.
1. Make sure that the trader you copy performs well in the long run.
Some traders make huge benefits randomly, in the short run, but they end up losing everything quickly. This kind of traders can blow your account. Therefore, you need to understand how proficient your trader is. You need to analyze his strategy and the history of his success.
If the trader was successful only once during the whole year or failed several times but then managed to earn the loss back and get a two-time profit. Pay attention to the massive drawdown throughout history. If the trader has them here and there regularly, do not copy this pattern. For sure you end up losing your money.
2. Don't copy viral traders
On social media, people usually glorify winners. Similarly, in the forex industry, some traders go viral just because they executed 2 or 3 winning trades that earned them huge amount of money. They post something like: see how I turned $1000 to 1 million dollars….
This gets them a lot of copiers but the problem is that they are seasonal winners. The hype created around them loses their shinning quickly and everyone is losing his money. Don’t fall into this trap.
3. Diversify your investment
The right approach to FBS copy trade is to copy 3 or 4 traders. This method can make you successful since the losses of one trader can be compensated by the other one. When you diversify your investment, you secure yourself against unpredictable losses.
There a lot of performers on FBS copy trading, therefore, the best way to select the top performer is to look at there wins and losses. The golden rule here is “the less is best.” That is to say if the trader makes small wins and small losses, and he is consistent in his trading, it is the best to chose.
Be careful, smart, and attentive, greed can cause huge losses.
How can make your FBS copy trade successful?
Your success is not based on one component, but on many factors. Your minimum deposit can determine how much you can earn. In addition, Traders you follow are also the cornerstone of your future results.
The first thing to do to succeed is to select the top 4 permed traders. You study their winning rates and percentage over 6 months. Then, you estimate, based on their history, the future results.
Based on the amount of money you have deposited, you can predict exactly how much money you can win on a given period of time. You abide by the strategy and you accept the results.
Indeed, this method will help you to avoid seasonal winning traders. In addition, you can estimate how much money you can deposit and also the amount to win.
Keep the rules to be consistent.