Frequently Asked Questions
What is TorrentFX CopyTrade ?
TorrentFX CopyTrade bridged the gap between valuable information in money markets and trade execution, by converting the advice of professional and talented traders globally to an executed trade rapidly and automatically in your account (from supported brokers)
There was a time when trading was a headache. Not anymore! You don’t have to study or monitor the market, because hundreds of signal providers from all over the world are doing it for you. All you have to do is pick the Signal Providers you like, and TorrentFX CopyTrade will quickly convert their advice into live trades in your trading account directly with the broker. And the best of all, it’s completely FREE!
Check the performance results of our Signal Providers here
How do I get started?
All you have to do is provide TorrentFX CopyTrade with the name and account number of the brokerage firm you’re trading with. To bridge the experts’ advice with your broker account, you will need to provide consent to your Broker (normally by agreeing or signing an agreement or Letter of Direction). Click here to see which brokers we support.
If it is the first time that you will trade online or you never had an on-line trading account with one of the brokers we support, then the first step is to open a new account. Click here to open one now in just 5 minutes.
I already have an account with one of the dealing brokers you support. What is the next step?
Click here and follow the wizard. When your broker notifies you that the change has been made, you will receive an email from us that you are ready to start using TorrentFX CopyTrade. This process will take a maximum of 2 days.
I do not want to open a new account, and I don’t want to sign any forms, even though there is not any cost involved with it. I prefer to use my existing account with the broker I’m trading with, without any changes. Is this possible?
No. By signing the RB form, you enable TorrentFX CopyTrade to receive commissions from the broker or dealer you have an account with, and most importantly for TorrentFX CopyTrade to pay the signal providers that are generating the trades being executed in your account. So if you do not wish to sign the RB form with the existing account, the alternative is to open a new account with your broker by signing the same RB form for that new account.
To link your existing broker account with our revolutionary trading platform.
Please click here to fill in the signup form. We will then automatically send you your login details to begin autotrading with our platform. Accounts are usually activated within 3-5 days.
How long does it take to open a new account with my existing broker?
It only takes 1 day. Most brokers – if you already had an account with them, do not require duplicate proof of records, and will provide you with a new account number. Don’t forget to tell them that your Referring Broker is TorrentFX CopyTrade. Click here to open a broker account already setup with TorrentFX CopyTrade.
I don’t have a trading account with the brokers you support. Is that a problem?
No. You can open a new account already set up with TorrentFX CopyTrade now by clicking here.
Can I open my account in different base currency than USD?
Yes. You can choose between USD, JPY, EUR, GBP and AUD.
What is a lot?
A standard lot is a buy or sell size. If you buy 1 lot of EUR/USD, trading at 100:1 leverage then you buy 100,000 EUR/USD. But since you’re trading with 100:1, the leveraged value is 1,000 EUR/USD or 1 standard lot. If you trade a mini lot, then you buy 10,000 EUR/USD and the leveraged value is 100 EUR/USD or 1 mini lot.
Without proper risk management, this high degree of leverage can lead to large losses as well as gains.
Can I trade manually? Or will it conflict with the automatic trades?
Yes. Manual trades will not affect automatic trades.
Who are these signal providers? How did you pick them?
We do not pick them. Any individual can become a TorrentFX CopyTrade signal provider. It is not possible on TorrentFX CopyTrade to misrepresent the performance of the signals generated. If TorrentFX CopyTrade shows a profit or loss, it is accurate, because details are confirmed by the dealing broker’s statements. For each pip stated in the performance section, there is a trade registered in the broker’s back-office.
How are Traders ranked?
Forex Traders appear in the Performance Table ranked according to the PosiRank algorithm, based on their performance results.
If you want to find out more about the way PosiRank is calculated, please click here!
How do I control the number of lots, and the number of trades a signal provider trades with on my account?
When logged into your account at TorrentFX CopyTrade, go to your account settings page. From there select the ‘max open lots’ drop down menu’, this allows you to set the number of total lots you wish a provider to have open at any one time, before he can open any more lots. Also, next to each provider’s name you have selected, there is a drop down selection called ‘lots’. This pertains to the number of lots to be traded on each individual trade. For example: if you wish each provider to trade with 2 lots per trade, but wish there to be no more than 2 trades open at a time. Then you would set max open lots to 4, and number of lots next to your providers name to 2.
Do you offer institutional accounts?
Yes, we also offer various institutional account types based on trading volume. Please contact us for more details.
Who is placing the trades on my account? Do the experts know about my account?
None of the Signal Providers that recommend trades will ever know your account’s existence. TorrentFX CopyTrade receives their recommendations, and checks the Signal Providers you have subscribed with in your account profile, and decides whether or not to autotrade their advice in your live account using a secure direct connection with the broker’s backend. TorrentFX CopyTrade’s patented engine places trades automatically with no human intervention. TorrentFX CopyTrade service is server based, in other words you don’t even need to have your computer on.
Are the results hypothetical? There are a lot of websites that claim all kinds of results...
Every signal received by TorrentFX CopyTrade is executed on at least one live / demo broker account. The results contain final spread, swap rates and profit or loss from closed positions in the account. The spread is the standard spread advertised by the broker you’re trading with. Due to a variety of factors outlined in the disclaimer found at the bottom of the page, sometimes results may vary between accounts. All signals and trades executed on a demo account are considered to be hypothetical.
I already have an account with one of the dealing brokers you support. Why is TorrentFX CopyTrade telling me that I cannot use this account? Signing the RB form doesn’t work. Do I need to open a new account? What’s wrong?
This is because when you opened this account, there was a party that acted as a Referring Broker (RB). Your dealing broker cannot remove that Referring Broker from your account and replace it with TorrentFX CopyTrade as the new one (legal issues). You need to open a new account and set TorrentFX CopyTrade as your Referring Broker. Click here to open a new account already setup for TorrentFX CopyTrade.
Why do I need to type my username for the broker platform I’m trading with? Is there any danger for anybody to steal it?
No, there is no danger. We will never ask you for your password. But even If your password was stolen, it is not possible for anyone (including TorrentFX CopyTrade) to withdraw funds from your account. This is because your broker, who always wires funds to the beneficiary of the account ONLY, is the one who had opened the account
What is a pip?
A pip is the minimum movement of a currency upwards or downwards. For forex, the pip value calculation is performed as follows:
Pip Value = (Pip in decimal places * Trade Size) / Market Price
Let’s assume you trade 1 standard lot of EUR/USD with an account denominated in EUR. One pip in decimals for the standard lot = 0.0001, Trade Size = 100,000, Exchange Rate = 1.13798.
In this case, 0,0001 * 100,000 = 10 and then, 10/1.13798 = 8.78750. The pip value in this case is: €8.79
What is the minimum deposit to open a new account?
It depends on the broker, but generally you can start with as little as $300.
I logged into my account. How many providers should I trade with?
When you login to your account, you will be asked to set your Risk Meter Bar and add traders to your portfolio. Based on the percentage of risk that you will set at your Risk Meter Bar, trading size will be automatically allocated for the traders you will add. If the percentage you have set is not enough for all traders, some of them may have 0 lots allocated. You can always change the percentage of the Risk Meter Bar, or remove traders, so as to set your portfolio as per your preference.
Can you add more signal providers?
Send an email to firstname.lastname@example.org and we will add them as soon as possible.
I have opened a new account with my broker. How do I know everything is ok?
Your broker will send you an email confirming that we are the Referring Broker, and that your account is ready. Then, you log in to TorrentFX CopyTrade and configure your trades.
What is ‘spread’ and why do all my trades start off with negative pips?
The spread in the Forex currency trading market, refers to the difference between the ‘bid’ price for the currency and the ‘ask’ price. Each traded currency pair opens with the spread. So if the spread is 5, then your trade will open at –5 pips.
What do signal providers and affiliates do? And how do they receive commission?
A signal provider places trades on his or her account, and all clients that have selected this provider in their account settings page receive these trades on their accounts, unless they do not have enough usable margin, or have their max open lots set to low. Signal providers provide signals for all clients who select them in their accounts settings page.
Affiliates choose a designated URL (web page) to advertise TorrentFX CopyTrade and draw clients to use our revolutionary service.
Signal providers get 0.5 pips for each traded lot of his or her own signals ONLY. So provider signs up, sends signals, and passively waits for clients to use their signals, trying to have good performance to attract them.
An affiliate gets 0.4 pips for each traded lot of the clients that signed up through his website, for ANY signal. So affiliate signs up, and starts advertising their website to attract clients to TorrentFX CopyTrade.