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How to Open a CopyPip Account and Navigate the CopyPip Platform

Posted by Fullerton Markets on October 27, 2020 at 11:48 AM


CopyPip is Fullerton Markets' copy trading platform where strategy providers and followers can enjoy mutual benefits. The former earn performance fees on top of their trading profit, while the latter earn on autopilot by copying winning trades.

What makes CopyPip unique is its robust support system.

Both strategy providers and followers receive assistance in developing their winning strategies through informative trading videos, free online trading classes, as well as weekly LIVE technical analysis sessions and copy trading tips.

This makes it easier for beginner traders to grasp the basics of Forex and identify the best signal providers to follow, and for signal providers to increase their following, which translates to more income.

There are two roles on CopyPip:

Strategy Providers (SP) are experienced and professional Forex traders who provide trading signals that strategy followers copy.

Strategy Followers (SF) are investors who copy trades from one or more strategy providers.

In this article, we're going to focus on strategy followers and how they can take advantage of CopyPip.

Glossary of Terms

AGE AVG PER MONTH
Refers to the age of a trading strategy, how it has been running. Refers to the returns on average per month that is calculated using value-added monthly index growth divided by the age of the strategy provider.
DD RECOVERY PERIOD GROWTH
Is the time taken for the strategy to recover from its drawdown. Also known as Equity Growth is the compounded growth of a trading strategy since inception.

AMU

Shows the average leverage (percentage of margin) used for copying every strategy, helping you to determine potential risk. Its level of value must be kept from 7% to 10%. If it exceeds 15%, then the risk involved is considered high.

INVERSED TRADING MMC
Allows you to reverse all trades taken by a strategy provider you are following, especially if you think they're not profitable. Shows the portfolio share of every strategy that is recommended to have a value at a level of up 100%.

MAX DRAWDOWN (MMD)

Refers to a strategy's maximum loss from a peak to a trough, before a new peak is reached.

MDD = (trough value - peak value)/peak value

RECOMMENDED BALANCE TOTAL PIPS
Refers to the recommended account funds you must have to maintain a portfolio of selected strategies. The number of pips a strategy has earned since its inception.

PROFITABILITY

Refers to the number of winning trades divided by the total trades taken as a percentage. 

Profitability = (Number of winning trades/total trades taken) x 100%

VALUE-ADDED MONTHLY INDEX (VAMI) WORST DEVIATION
Measures the performance of an investment based on a hypothetical investment of $1,000 over a period of time while disregarding deposits and withdrawals. Allows you to follow the trade execution of the provider at a better or worse price based on the number of pips you input into the parameter.

RECOMMENDED MINIMUM 

This refers to the recommended capital a copy trading account must have before following an SP. It's calculated using an SP's current balance and floating profit/loss.

Who provides the trading signals/strategies in CopyPip?

CopyPip has more than 400 signal providers who are either a trader, an Introducing Broker, or both. Any existing Forex trader with Fullerton Markets can be a strategy provider, provided they have actively traded for a minimum of one month and opened and closed 50 trades. From their Fullerton Suite, they can open a strategy provider account.

SPs are chosen by SFs based on several factors such as Equity Growth and Maximum Drawdown.

What are the requirements to open a CopyPip account?

  • Basic personal information
  • Fullerton Markets LIVE trading account
  • CopyPip MT4 account
  • USD100 minimum deposit

Can you open multiple accounts?

Yes. You can open multiple accounts on CopyPip, all of which are accessible from your dashboard.

Can you follow more than one strategy provider?

Yes. There's no limit to the number of strategies you can follow provided that your account meets the requirements such as the Recommended minimum and the Recommended balance.

Check out more FAQs on CopyPip Strategy Follower.

How to successfully copy trade via CopyPip?

 

image_featuring_a_handshake_with_references_to_copypip

First, open an account.

  1. Log in to Fullerton Suite and click on Open CopyPip Account to create a CopyPip MT4 account.
  2. Register your profile at https://www.copypip.com/registration.
  3. Once registered, log in to your CopyPip account. You should see a Live Account in your profile on the CopyPip Platform.
  4. Link your CopyPip MT4 ID before copying any Strategy Provider on the Copy Pip platform.

Then, set up your account:

  1. Go to www.copypip.com and click Login.
  2. Once logged in, click on Trading Terminal, Statements or Portfolio.
  3. Click on Virtual Tour to access a detailed explanation of the available functions on the CopyPip platform.
  4. Under Strategies, you will be able to see all the available strategies ranked based on Age, Growth/Equity Growth, Avg per month, Total pips, Max drawdown, DD recovery period, Recommended minimum and Profitability.
  5. Once you've selected a strategy provider, connect a trading strategy to your portfolio. Click + Add to Portfolio.
  6. Select your Live account. Then, customise your copy trading settings. Choose:
  • Automatic settings adjustment if you're a beginner or when you want the most favourable settings for your trading strategy to be automatically selected.
  • Percentage of the total balance when you want to allocate a specific percentage of your capital to be used in copying trades. When you set this to 10%, for example, only 10% of your balance/funds will be used to open trades.
  • Fixed trade size is when trades are executed based on a specific lot size you set. The trading server will only open trades that is 0.10 lot
  • Proportional trade size allows you to set up a dynamic and proportional trade size coefficient in percentage relation.

In addition, CopyPip lets you customise your account settings, including the following parameters:

  • Minimum and Maximum Lot Sizes
  • Fixed Stop Loss
  • Fixed Take Profit
  • Forced Exit & Stop
  • Worst Deviation
  • Limit Quantity of Simultaneous Trades
  • Inversed Trading, and
  • Trades and Orders to Copy

Once customisation is complete, click Save to add the trading strategy to your portfolio.

Next step is to keep track and adjust your copy trading account.

From your portfolio, click on Statements to view your trading history. You can filter it according to different statistics such as Growth and Profit/Loss.

Click on Trading Terminal to monitor trades you currently open and your account status in real time. This is also where you can open or close trades and log in to your MT4 account.

If you want to modify, stop, pause, run or delete a strategy, click on Portfolio. Here, you will see a list of strategy providers that you follow, along with details of their MMC and AMU.

If you have suggestions or questions, navigate to the Support section of your account.

Leverage the power of CopyPip

Whether you're a signal provider or follower, CopyPip provides you with the opportunity to profit from the Forex market.

As an SF who might be fully dependent on an SP’s strategies, you should learn how to navigate and customise your portfolio for maximum returns.

 

Ready to build and grow your wealth in the world's largest financial market via copy trading? No better place to start than right here with us! Begin copy trading with Fullerton Markets today by opening an account:

Open LIVE Account


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