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Maximizing Profits: Understanding the Operation of Copy Trading in India

Over four million investors have relied on OctaFX for uninterrupted access to the world’s financial markets. OctaFX places a premium on delivering excellent service to its customers, and one way it does this is by protecting their accounts from going into the red. With OctaFX’s CFDs and other financial instruments, you can profit through the 10 most widely traded indices. OctaFX is dedicated to giving forex traders a positive experience; therefore they have partnered with top-tier liquidity providers and made available the industry-standard MT5 Trading Platform. OctaFX’s fast deposits and withdrawals are free of charge, making it stand out from other brokers.

Instructional Resources for OctaFX

OctaFX’s training resources are more extensive and in-depth than those of other brokers, although they are more suited to novice traders than seasoned pros.

  • Tiger Trading Academy

The online trading academy was released by OctaFX. From Forex basics to market forecasting, the site has you covered with a variety of bite-sized training. Each lesson is a combination of video and text while is presented in an approachable manner; students are regularly assessed on their knowledge of the content, and the site as a whole is available at no cost. Overall, according to article it is a great tool for novice traders, so here’s hoping OctaFX brings the course in-house and adds more advanced levels.

  • Forex Primer

Back on OctaFX’s main site, the Forex Basics articles serve as the backbone of the company’s internal education area. Technical analysis and trading strategies, as well as more complex concepts like pair correlations and Fibonacci retracements, are all covered in detail. These articles are informative and helpful for both novice and experienced traders because of their depth and quality of writing. OctaFX also has a robust presence on YouTube, where it regularly broadcasts a variety of live trading sessions and webinars. In addition, every Saturday, there is a class geared toward first-time traders.

  • Tutorials

In addition to the video guides, there is a brief portion of the main site devoted to getting started with the MetaTrader platforms, CopyTrading, Autochartist, and CFDs. A frequently asked questions section and a dictionary of Forex trading terms are included at the end. OctaFX’s supported platforms (MT4 and MT5) have their own manuals linked from the Education page.

Best Time to Trade Forex in India

First, let’s think back on one of the many advantages of the foreign exchange market. Foreign exchange (FX) currency pairings are traded around the clock, five days a week, unlike equities. What this implies is that from Monday through Friday, you can open your laptop at any time of day or night and make a trade. Should you, though? In a word, no. The market is accessible around the clock, but not all hours provide the same opportunities for making money. Markets have best trading time of extreme volatility in the prices of most currency pairings. Changes in prices are quantified by their volatility. The more volatile the price, the greater the potential for lucrative speculation. Therefore, there are several openings for rapid profit during times of extreme volatility.

In India, how can copy trading operate?

To engage in copy trading in India, you need at least two traders and a Forex broker to facilitate communication and cooperation between them. One trader acts as the supplier or manager, and their trading methods are made public so that other traders can copy them. In exchange for a fee or a percentage of the investor’s gains, the other trader or investor chooses which supplier to follow. The broker not only facilitates communication between the supplier and the investor, but also facilitates trades made by the provider. The manager’s investment return, risk profile, years of experience, and trading style are all typically given as an advice on copy trading platforms. The highest peak-to-trough fall in the manager’s trading account is often recommended as a metric to evaluate performance. If you plan to invest an amount that is less than the manager’s biggest drawdown, you are taking a significant risk of losing your entire investment. Key features also include investor controls, which let you determine factors like how much to invest in a given service and the techniques to employ.

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