Become a FxPro SuperTrader Leader
Please note that FxPro discontinued their SuperTrader platform in Q3 2016. You can still earn extra money by joining and trading on any of the other social trading platforms listed here.
FxPro is a global Forex broker who allows their clients to copy other traders and trading strategies using their own SuperTrader platform. If you are an experienced manual or algorythmic trader you can make extra money by becoming a “SuperTrader Leader” and sharing your signals or strategies.
How much can I make on SuperTrader?
FxPro pays SuperTrader Leaders $5 USD for every million USD traded by the investors who copy them. In addition you will also receive a 5% performance fee based on the profits you make in your followers accounts.
How do I become a Leader?
Becoming a Leader requires you to undergo a stringent review process in which FxPro’s Business Development team will vet you and each of your strategies. You need to complete a Due Diligence Questionnaire and your trading strategy will be tested for 30 days in your own live FxPro account. During this period you need to execute at least 20 trades. Your strategies will not be made visible to clients until it passes this live test and you completed the interview and questionnaire.
The following are some basic FxPro risk management guidelines a Leader should abide by to limit the risk of their SuperTrader copiers:
- Reasonable risk-adjusted returns
- Consistent strategy, both with regard to executed trades and compared to your SuperTrader Leader Due Diligence Questionnaire
- Possess and display a reasonable exit strategy suited to the individual trading strategy
The recommended risk management settings for a SuperTrader Leader to abide by are:
- Limit your maximum drawdown to 50% of equity
- Limit the unrealised loss relative to your account balance at a maximum of 20%
- Having a maximum balance of 50,000 USD, with no redeposit allowed without prior notification of FxPro
While FxPro’s review process to become a SuperTrader Leader is certainly more stringent and time consuming than with most other social trading networks, there are certainly some benefits. Investors understand that each Leader and strategy has been properly tested and has a proven track record, which will make them more confident to invest real money. Leaders benefit from earning commissions and performance fees from a potential base of over 200,000 FxPro live clients who have direct access to a list of proven and reputable Leaders on SuperTrader.
It’s worth mentioning that any customers who copy your strategy can leave a rating which is displayed in the SuperTrader Leader listing. The listing also displays whether the strategy is 3rd party (which will be you) or in-house FxPro. You can also write a detailed description and update this over time, while all other performance statistics are updated automatically on the SuperTrader platform.
You can enter your trades using any of FxPro’s trading platforms (including MT4 or ECN). You can also use any FxPro, MetaTrader or ECN scripts to automated your trading strategy.
Click Here to visit FxPro for more information and the application form to become a SuperTrader Leader.