The Forex and CFD broker HotForex (regulated by CySEC), one of the most important in the sector, has created a new social trading service called HF Copy, which is based on the concept of copy trading. This service allows customers of this company to connect with other traders, make informed decisions and identify more opportunities in the market, and especially build an investment portfolio by tracking and copying the most successful traders in the network. Through the HF Copy system, any investor interested in the financial markets like Forex can follow and copy in real-time the transaction of any trader belonging to this network of social trading.
The HF Copy system is based on the platform of FX Stat, one of the most important companies in the field of social trading, which specializes in solutions for copy trading companies.
You can get more information about the company HotForex and its brokerage services in the following guide about this broker: Review of HotForex broker
Before you continue reading this article about this social trading platform, you can also get more information through its website:
Main features of HF Copy platform
With HF Copy, HotForex clients can connect with other traders, discuss trading strategies and important market news, follow and copy the most successful traders and portfolios and carefully expand their networks by identifying more trading opportunities in markets. Among the advantages of HF Social we can include:
- HF Copy has the auto-trading function to build a portfolio of winning strategies and copy market trades automatically.
- It allows its members to connect with other traders, select the most successful and manage their portfolio of manual and algorithmic traders through HF Copy.
- An investor can build a portfolio with signal providers (traders) that use different trading strategies, so as to have a diverse portfolio that allows investing under different market conditions.
- HF Copy provides updated statistics of all network members. This allows selecting the best traders according to more objective evaluation criteria.
- HF Copy platform is fully compatible with mobile devices (iOS and Android), which allows the trader to connect to their account, react quickly to changes in the market, keep updated with the latest events and news and watch the portfolio of manual and algorithmic traders through their smartphone and from anywhere with an Internet connection.
By joining the social trading network HF Copy, HotForex customers can instantly connect with more than 250,000 traders, review and analyze any portfolio and its results and follow in real-time any trader of their choice. Also, the client can automatically copy the transactions of the most successful traders through an intuitive and easy-to-use system, even for novice investors.
By joining the HF Copy social trading network, HotForex clients can instantly connect with over 250,000 traders, review and analyze any portfolio and its results, and follow any trader of their choice in real-time. Likewise, they can automatically copy the transactions of the most successful traders through an intuitive and easy-to-use system, even for beginner investors.
The following is a partial list of signal traders providers of this platform:
How to select signal providers in HF Copy?
As in all forms of investment, there are risks in copy trading. One of the biggest risks is the one that comes from selecting signal providers with poor trading strategies or who take too many risks. Therefore, the trader must take the time to carefully research the traders whose trades he wishes to copy. You should check their history and performance statistics to select the trader that will give you the best profits with the least risk.
The performance statistics offered by this broker for the different signal providers are:
- Profits chart over time
- Month-to-month profit/loss data
- Complete history with executed trades
- Balance vs. Equity Chart
- Number of trades carried out
- Winning trades
- Losing trades
- Average profit per trade
- Average loss per losing trade
- Average duration of trades
- Maximum drawdown
- Total return for the period
- Performance fee
- Stability score (1-5): 1 is the value that indicates more stability and 5 is the one that indicates more instability.
HF Copy account of HotForex
Trading platform | FxStat, MT4, Webtrader and Mobile Trading | Margin Call / Stop Out level | 50% / 20% (*) |
*Spreads: | 1 pip margin on premium spreads of HotForex | Telephone trading | Yes |
Trading instruments | Forex, Indices, Metals and oil | Account currency | USD, EUR |
Prices with fifth decimal | Yes | Personal Account Manager | Yes |
Maximum leverage | 1:100 | MYFX platform | Free (for deposits over 2000 USD) |
Execution | Market execution | Bonuses | No bonuses |
Minimum opening deposit | USD $100 | Maximum number of simultaneous open orders | 300 |
Minimum transaction size | 0.01 lots (1,000 units of the base currency) | Maximum size of trading volume | No limits |
Minimum transaction size increment | 0.01 | Commissions | No commissions |
