How to Make Money With The New XM Copy Trading Tool

Not so long ago, XM Forex introduced a new feature on its trading platform: the XM copy trading feature. For traders who are not yet familiar with the platform, XM is one of the most popular forex brokers globally. And as much as I want to tell you all about it now, I can’t. It takes at least 4 hours to just write about XM features, pros and cons. Plus, I already did a detailed review of XM, and you can read that post here.

Today, though, I will only focus on the new feature on XM, the XM copy trading feature.

And to understand how the tool works, we must first understand what copy trading is and the impact it has on traders. Especially those who don’t know how to trade or those who are accustomed to making consistent losses trading.

Without wasting too much time,

What is copy trading?

Copy trading is a trading feature that allows other traders to replicate the trades placed by others. Often, winning or more experienced traders.

To become a successful copy trader, you must scout the market and find good traders with proven track records.

But how do you find these traders, you ask?

To answer your question factually, let’s first dissect the copy-trading anatomy to reveal the people involved in copy-trading.

First, there is the signal provider: this is the XM trader who is being copied by other traders

On other trading platforms, you will also notice they are referred to as master traders or signal providers.

Then there is you, the copier: most copiers are usually new traders, beginning traders, inexperienced traders, or traders who have experienced massive drawdowns in the past.

It is common knowledge that the copier must have a trading account that he’ll be using to copy signals.

If you want to start copy trading and you don’t have an account, consider joining XM on their official website.

The last party in copy trading is the broker. In our case, XM forex.

The broker provides access to the platform that both the signal provider and the copier use to transact their business (trade).

These platforms may include:

1. MT4 / MT5 Platforms
2. Android MT4 Trading Platform
3. MetaTrader 5 (MT5) Trading Platform

It is through these platforms that signal providers and trade copiers connect.

How does copy trading work in XM?

XM provides a copy trading software, which any trader or signal provider can access here.

For traders who don’t have an account in XM, it is important to create one to be able to access the platform.

As the signal providers trade on XM and show their winning track record, their performance data, including how they are profiting from XM, is shared on the app.

You, the copier, can then choose who you want to copy and follow.

Following the signals providers also means that every transaction they execute is replicated on your account. Of course, with some minor adjustments for factors like available funds and risk preference.

How to make money copying trades

Have I already mentioned that you will need an account to copy other traders? What I might not have mentioned is, that you will need to have a live MT4 or MT5 trading platform.

Once you have gone through the account opening process, XM will send you all the details you need to access your Meta Trader account.

Use those details to access your account.

Note: Xm allows you to open up to 5 sub-accounts if you already have a live account.

Having more than 1 account gives you the flexibility to switch between copy trading and manual trading.

You can later analyze the results for both accounts to see what brings you the most money.

Have you created an account already? Next, you will need to link your live XM MT4 account to the copy trading system.

Do this by logging in to your member area, and then clicking on copy trading on the left sidebar to be able to see the list of signal providers on XM.

Some of the things that you may want to look at before choosing a signals provider to copy include:

• Their win ratio
• Drawdown percentage
• Other investors using the signals
• How much the signals provider has invested so far?
• And how much account balance they have

Clicking on individual signal provider portfolios will also reveal the fees they charge for their signals, the minimum investment required, and the assets they trade frequently.

For example, I just clicked on the @GowentGoal portfolio on Xm, and these are the data I got without even scratching the surface.

Copy trading data

After choosing the signal provider you want to copy, click on the copy button to activate your preference.

This action will prompt you to declare that you have carefully read and fully understood the Terms and Conditions for creating an investor account.

Finish up by clicking the Create investor account button on the popup.

When the account is created, consider working on your profile because the next section of this profile teaches something else.

It teaches you how to make money as a signal provider on XM. And a complete profile goes a long way.

Advantages of copy trading on XM Forex

a). Transparency: Look at the image I shared above. What data does it display?

It displays all the data you need to find out if a signals provider is worth copying or not.

This, unlike Forex signals provided on Telegram, gives you an edge over the signal provider.

This data shows you if, indeed, the signals provider you are following is a Forex guru or if he is just another scammer waiting to be revealed.

With XM copy trading, there is so much transparency that gives everyone the confidence to trade.

Plus, you do not have to engage someone else to trade for you. The copy is all done in your account without your funds being transferred to someone else.

b). Efficiency

With copy trading, you will not be relying on your strategies to trade. This will save you hours, as you might not even need to analyze the markets.

Not to mention that copy trades on XM are executed automatically, which again should give you an edge over the broker as no second is lost on executing a good trade.

c). Diversification

As a copy trader, you will also notice that at the end of a trading day, your account has placed trades on multiple financial instruments across various assets.

This is what we call diversification, trading not one but multiple assets over time.

This ensures that even if you lose some trades, you win others.

Copying multiple traders also helps with this, as not all signal providers on XM can be trading the same thing at a time.

How to make money with copy trading as an XM signals provider (XM partner)

Have I already mentioned that there is also an opportunity at XM to make money by providing signals on the platform?

Yes, this is very much possible, and as an XM partner for copy trading, you can earn up to 50% profit share from the strategies you post on the platform.

One thing to keep in mind, though, is that you will also need to trade with a real account to hack this.

How do you get started, you ask?

Step 1: Join the signal provider community.

You can access this community by going to the copy trading page for XM.

Step 2: Share your expertise.

Do you have an account already? Now start creating and sharing strategies with the community as a manager and earn up to 50% of any profits your followers make.

The more followers you have, the more you can earn.

It’s as simple as that.

• Create and verify your XM account
• Sign up as an Investor or a Strategy Manager
• Follow successful strategies, or share your own!