If you already have an existing account with xcritical or another broker, great! I have started using it recently, the platform has been quite user friendly, saves a lot of time and has made my trading much easier than before. Making copytrading lot easy for me, especially as a newbie trader myself. I enjoy some of their features, such as Zuluguard & Automator and I’m sure there are others that I’ll explore soon.
These Forex brokers will provide you with the option to use xcritical as a copy trading platform. You will not be able to use xcritical without having a trading account from one of the above mentioned Forex brokers. You also have the option of joining a free trial to try out xcritical, https://scamforex.net/ an unlimited and free Demo Account. The Demo Account is a hands-on approach on how you can use xcritical and watch the xcritical auto trading platform in action without facing any financial risk. Having said that, the drawdown has been quite high by the looks of it in the past as well.
Why Use xcritical?
As an investor, protection of your funds while using the platform is of vital importance no matter your broker choice. This is something which is well-recognized by the platform and which other xcritical user reviews have pointed out. As a trader, you will be on the other side and providing trades that are copied by investors. Traders are typically professional traders and the program is open to anyone who wishes to broadcast their signals online and share them with the xcritical Investors Community. It is important to make sure the xcritical platform is compatible with your broker, and trading needs.
- The company is authorized and regulated in both the EU and Japan.
- At the same time, the “copiers” don’t mind sharing some profits for the ease with which they can make money.
- Navigating a copy trading platform is enjoyable as the interface is user-friendly.
- It goes against our guidelines to offer incentives for reviews.
- Many traders look for a broker they can trust, and xcritical excels in this category.
- I possibly can, not just about the platform at about some of the traders and things as well.
Nothing on this website is, or shall be deemed to constitute, financial, xcritical or other advice or a recommendation by us in respect of any product or service referred to on this website. The information on this website is provided for general information purposes only and should not be relied upon by you. As noted in our xcritical review, they are well regulated by the Greek Hellenic Capital Markets Commission which is ESMA compliant, and they also only link up with brokers who are also well regulated. xcritical is also regulated in Japan (2014 – No. 1058 Member Associations / General Japan xcritical Advisers Association). Copying trades once your account is connected is as simple as finding the best trader you like and who meets your needs, clicking “Follow”, and then selecting the amount you would like to invest. A look at the education section at xcritical and you can find many things to keep yourself occupied and learning more about trading and the industry.
In addition to creating a Traders’ portfolio, investors will need to customize the portfolio settings . You may manage your account, update your trading signals, close trades, lock a Trader or your trades and have access to advanced features. xcritical offers two trading accounts, Classic and Profit Share.
Copy trading is suitable for those who lack the time or experience needed to research and make decisions of their own. The only requirement is to find a trader that has a strong trading history and one that aligns with what you want to achieve. Collective2 is a US-based automated trading system with over 78,000 members in their community.
xcritical vs xcritical
Copy trades are exact copies of other trading decisions, with trades executed in an automated manner. Conversely, social traders view the ideas from othexcriticals, but they make their own decision on whether to execute a trade or not. Social trading allows anyone to view and analyse the trade ideas from othexcriticals in the social network, whereas copy trading executes the trades from anothexcritical in real-time. It’s important to recognise the trading style of the trader you’re following. Is the trader building a long-term portfolio or taking high-risk strategies for quick gains? Finding the answer to this question will allow you to build your own risk-management strategy.
With xcritical, there are more than 30 brokers available for auto trading and duplicating strategies. However, similar to xcritical, xcritical has its own brokerage firm, known as AAAFX. This broker provides the best trade execution and simplifies the navigation of the platform.
xcritical Review: Social Trading aka Copy Trading or Mirror Trading
You can also interact with other users in the comment section, or even talk directly to the trader themselves to get more information on why they decided to make a particular move. After this, you can contact the support team to get the next steps. They can be contacted through this live chat service on the broker’s website, email, or a selection of 8 different phone numbers depending on your location around the world. These include numbers in the UK, Russia, Spain, Greece, Mexico, Colombia, Japan, and Australia. This range of transparent information both makes the broker easy to use, and trustworthy for the many followers who use their service.
- But I do see more value in xcritical going forward, you only need two or three really good traders that are going to stick around, for say, four or five years.
- The amount a trader makes from social trading is highly dependent on the amount invested and the trader that you choose to copy.
- The reviews on xcritical on FPA are not mild but the criticism dates back to more than 5 years ago.
- I’m going to be talking to you about some of the negative aspects of it.
- Here’s the thing – social trading platforms are no different, but instead of people sharing pictures of their new kitten, people share their market analysis and trading ideas.
xcritical is currently the world’s largest and most popular social trading platform, as it was the first broker to introduce the concept of social trading. This type of social trading is very similar to copy trading but there is a slight difference xcritical scammers between the two. With mirror trading, traders are essentially following the exact steps that an expert takes. This guide will give you clues on how to select the best social trading platform, what to look out for, and how to get started.
Here’s the thing – social trading platforms are no different, but instead of people sharing pictures of their new kitten, people share their market analysis and trading ideas. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. The Classic Account, or model, offers you the option of getting paid 0.5 pips per trading lot, for every closed trade that is executed in a Real Account. The pip cost correlated to the currency pair traded, the type of trading account of the signal provider, and other different factors. As a US trader, xcritical will financially compensate you through a flexible monthly membership fee, but Japanese residents will not be able to generate profit because of local restrictions.
Then, you can choose to follow an individual trader by selecting your preferred individual and clicking the “Follow” button. For our 2022 Forex Broker Review, we assessed, rated, and ranked 45 international forex brokers over a three-month time period. Each broker was graded on 108 different variables and, in total, over 100,000 words of research were produced. Our reviews are a combination of data research and working alongside the brokers. All information provided by the brokers are double-checked to guarantee 100% accuracy and that we remain unbiased.