Exness Social Trading is for those who want to invest their fund in other available professional trader and does want to perform trading of their own. In this trading system, an investor does not need to trade on their own except to keep their trading account funded.
In today’s article, we will discuss some details regarding Exness Social Trading. We will try to give you some idea about how this trading system works, what are the possible pros and cons in detail.
What is Exness Social Trading?
Let’s start from the beginning. Have you ever heard about “COPY TRADING“? Exness social trading is a unified version of this copy trading system or you can simply rename it to copy trading.
So what is copy trading?
For example, Just imagine, you want to copy our trading operations. In this case, you need to subscribe to FXPEDIA.INFO’s trading profile and deposit some amount into your investor profile.
If we place any entry then the same entry will place into your trading account. In simple words, if we earn profits then you can also be profitable. On the other hand, our losses can cause your losing funds.
Registration of Exness Social Trading
Registration of this Exness Social Trading account is really simple and easy. First of all, you need to decide what will be your part in this trading system? For example, do want to provide trading services for others or want to invest in copy trading? If you have decided then please follow to below steps accordingly.
Registration as a Trader: If you already have a profile of exness then you do not need to do anything except a few clicks. On the other hand, if you do not have a registered account then please visit the broker’s official website – www.exness.com and follow the onscreen instructions. Or, you can have a look at our Exness Registration article for the detailed tutorial.
Then you need to log in to your client cabinet and navigate to the “Social Trading” button from the left side menu panel in your account dashboard.
Registration as an Investor: To perform this operation, first of all, you need to download the broker Social Trading App. You can download this app from the website or just simply click this link – Exness Social App and you will be redirected to the play store or AppStore depending on your smartphone OS.
After installing this app, please log in with your cabinet credentials (if you have already registered to exness). On the other hand, please select your country and click the “Continue” button to provide your email address and follow the onscreen instructions.
Please bear in mind, you can use this social trading account in two different ways.
- As strategy provider (You act as Trader)
- As a strategy follower (You act as an Investor)
We will discuss it briefly later.
How does it work?
As strategy provider (You act as Trader)
Let’s discuss you as a strategy provider and explain how does it work. If you have profitable trading strategies that you want to share with others and want to earn an additional amount of profit then exness social trading is right for you. Just open a Social trading account and share your trading strategies.
Singin to your Exness Cabinet and click on the “Social Trading” button from the left-hand side menu option of your account dashboard. A new form will appear and you need to fill it up carefully by giving a name of your trading strategies and adding some description about how it is going to work, etc.
Give a name to your strategies along with some descriptions and set a password and then click the “Continue” button. Here a new page comes where you need to declare your expected profit ratio and account currency.
Please make sure to set it up correctly because you are now opening a social trading account that you need to use for trading.
At first, you need to choose your social trading account type. Exness offers 2 types of trading account.
Social Standard Account: You need to deposit at least $500 in this account and the leverage will be set to a maximum level of 1:200. This account is similar to Exness Standard Account. We have already discussed in brief this trading account. Please check Standard Account article to know more.
Social Pro Account: If you want to trade with the lowest possible spread then you can open a Social Pro account. You need to deposit at least $2000 in this account and the leverage will be set to a maximum level of 1:200. The main difference between these two social accounts is spread and the deposit requirement. This account is similar to Exness RAW Spread Account. We have already discussed in brief this trading account. Please check the RAW Spread Account article to know more.
Then, you need to decide what will be your profit sharing ratio. It starts with 0% to 50% at maximum. Based on this ratio, your return will be calculated. Confused??
For example, if you set aside 5% in commission and someone (Investor) starts coping then what amount you will get for any profitable entry?
Finally, choose a profile picture for your trading strategies and click upload. You have successfully registered a social trading account as a Strategy Provider. A confirmation email has been sent to your registered email address with your social trading account number and everything.
Now you can start trading on your own and others can join or copy your trading systems where you can earn some extra amount of cash as a reward for your profitable trading strategies.
As a strategy follower (You act as an Investor)
Let’s discuss you as a strategy follower and explain how does it work. We hope, you understand the details of the Strategies Provider. In simple words, strategy followers are the opposite person who acts as an investor.
In these cases, you need to find out the best possible trading strategies and copy their trade automatically. First of all, you need to download the Exness Social Trading App and create an account. This link will be redirected to the Playstore or the Appstore depending on your smartphone OS. The app is available for both the android and ios systems. You can start copying in just three single steps.
After downloading it to your phone, just signup or log in by using your email id and need to follow the onscreen instructions.
Then you need to choose your preferred trading strategies and deposit via your preferred deposit system. Trade will execute automatically when your traders make or close any entry of their own. You do not need to do anything except deposit or withdraw funds from your social trading account.
Benefits of Exness Social Trading
As a Trader:
- This is an opportunity where you can earn an extra amount of money and showcase your brilliance. The better you trade the more you can earn and attract more investors.
- The broker will manage all the operations so you do not need to concentrate on anything except for trading. Your profit amount will be deposited automatically into your wallet.
- If your trading skill is good and your profit ratio is constant then the broker will promote your copy profile to its investor.
- There are no limitations of Depositing and withdrawing funds from your copy trading. You can operate just like any other normal trading account.
- You can choose your expected profit ratio and you can change your ratio anytime if you want.
- You can set a minimum deposit requirement for subscribing to your trade. For example, you can set $200 is needed at least to start copying your trading. In that case, investors need to deposit at least $200 to copy your trade.
- More profit can earn more return so there are no limitations.
As an Investor:
- No trading on your own. And you may have the opportunity to copy the good and skilled traders’ accounts.
- Since there is no need to trade on your own, there is no need to pay time for trading and there is no need to keep up with the various market news and updates.
- Trade can also be started by providing a minimum balance. It means it does not require a large investment by itself. You can also deposit funds according to your ability, only $10 is required.
- There is a privilege to select the trader as per your choice and you can set your invested amount from your account balance.
- If you want then you can copy multiple traders’ profiles in the same account.
- You can withdraw Funds that can be transacted immediately.
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