Brokers Offering Copy Trading & Social Trading To Zimbabweans

Best for synthetic indices

• Trade 24/7 incl weekends
• $5 minimum deposit
• Fund with Ecocash, Zipit etc

Visit Deriv Read Review

Best for currencies

• $5 Minimum deposit
• Low spreads
• Variety of trading accounts offered

Visit HFM Read Review

Best for beginners

• Well regulated
• No deposit bonus offered
• $5 minimum deposit

Visit XM Read Review

What is Forex Copytrading?

Copy trading allows traders to copy trades executed by other investors in the financial markets. The goal of copy trading is for the trader to have the same positions as the investor they are copying.

Any trading action made thenceforth by the copied investor, such as opening a position, assigning Stop Loss and Take Profit orders, or closing a position, are also executed in the copying trader's account.

The copier will pay a portion of their profits generated to the strategy provider as compensation.

Before you start copy trading, it’s important that you have carried out your own analysis on a position or particular market before you commit real capital to it. Remember that even if you are following the methods of an experienced trader, your capital is still at risk.

Which Brokers Offer Forex Copytrading For Zimbabweans?

Hotforex Copytrading

Hotforex offers HF Copy which allows its clients to copy any of the strategy providers. As a follower, you will have full control of your account. You can monitor trades and withdraw funds at any time you wish. You can also unfollow a strategy provider at any time.

You will find Strategy Providers on a performance table, compare their trading stats and eventually choose who to follow. The minimum deposit for opening a follower account is $100. If you want to open a strategy provider account the minimum balance will be $500.

Learn more about HF Copy here

ForexCopy System By Instaforex

The forex copy system by InstaForex allows you to copy the trades of professionals automatically.

One of the advantages of the ForexCopy system is its reliability. As a follower, you fully control the situation, as the money stays in your account. You can customize the settings and even manually cancel copied orders if they seem potentially unprofitable.

The minimum deposit needed to start copying is as low as US$10 making it very accessible for traders. You can also copy a number of traders to minimise risk.

Learn more about Forexcopy system by Instaforex here.

Copy trading with FXTM Invest

FXTM Invest is an innovative way you can access the opportunities of trading without any technical skills, and the minimum of time. You simply choose to copy FXTM traders (also known as Strategy Managers) who are right for you and make their trading strategies available to follow.

Copy trading with FXTM Invest lets you retain full control of your money, and you’ll only pay a fee to your Strategy Manager when they make a profitable trade. You only need a minimum of $100 to start copytrading.

Learn more about FXTM Invest here.

Forex Copy Service By SuperForex

The Forex Copy service by SuperForex is available for all clients who have already opened a standard account and have made a deposit of at least $10.

Upon subscription to a Master, the follower must choose a type of subscription: either on a daily basis (paying daily for copying the Master’s deals) or based on the profit share (paying for every copied profitable deal).

Learn more about the SuperForex CopyTrading Service here.

Octa FX CopyTrading

Octa Fx has a copytrading app that allows you to monitor your copied trades.

Liteforex Copytrading

Liteforex gives you the opportunity to copy over 1000 traders from all over the world. Learn more here.

Advantages Of Forex Copytrading For Zimbabweans

• Copy trading can be useful for traders who don’t have the time to follow the markets themselves.
• Copy trading allows traders to diversify their portfolios. This means that a trader is using multiple ways to make money in the markets. Instead of putting all of their capital into one position, asset or strategy, traders can use multiple trading strategies​ that benefit each individual market.
• Through copy trading, you can access another trader’s expertise or make the most of seasonal trends that you wouldn’t usually consider as a potential opportunity
• Copytrading allows first-time traders to familiarise themselves with the financial markets and gain the confidence to trade
• Helps new traders to learn how to trade, by watching the actions of other, more experienced traders.
• Creates a community of traders, beginners and experienced alike, who can exchange ideas, and strategies and endeavour to improve their trades together.
• you can copy traders across a range of markets like forex, stocks, commodities and cryptocurrency.

Disadvantages Of Forex Copytrading For Zimbabweans

• Past results are not a guarantee of future returns. So a trader you decide to copy may have an impressive record but they may start making wrong trades after you decide to follow them
• Copy trading can provide little incentive for traders to do their own research and learn about the market
• You have to pay a portion of your profits to the master trader
• if you have limited equity as compared to your master trader you may not see significant results. For example, if your master has an equity of $5000 and you only have $50 then your lot sizes will be much smaller. If the master takes a trade using 1 lot then it will have 0.01 lot size on your account. If they get 100 pips profit it will be $100 for them and only $10 profit for you. For the best results your equity should be as close as possible or even more than the equity that the master trader has.

Conclusion On Forex Copytrading From Zimbabwe

Copytrading can be a great way to earn extra, passive income. It can also help you to avoid some of the account management scams that are used to target unsuspecting Zimbabwean forex traders.

However, you will need to carefully choose the traders you want to follow and you will have to be aware that trading performance can change at any time.

Have you done copytradin or are you considering doing it? Share your thoughts and comments below.