Make Money and Become a Forex Trader to Follow
Whether you’re a professional or an amateur Forex, commodities or indices trader, the social trading networks offer you a great opportunity to make some extra money with your trading skills. You may not even need to use any money to trade or start with yourself depending on the network you use.
eToro
eToro
How much you get paid as a Forex trader will obviously depend on how successful you are. The more successful you are, the more people will follow you and the more successful you are. Results and consistency will obviously be the main factor people use when they decide whether to copy your trades via the social network. However, because of the “social” aspect of some of the networks, you may also get some additional followers if you communicate actively and professionally with your followers.
Depending on the social trading network the process of how to become a trader people can follow and how much money you can make will vary. The program names differ as well, but all the details are explained on the following pages:
- Become a ZuluTrade “Trader” / Signal Provier
- Become an eToro “Popular Investor”
- Become an Ayondo “Top Trader”
- Become a Tradency “Strategy Provider”
Below is a table comparing the key attributes of the programs offered by the various social trading networks for becoming a trader their customers can follow and copy:
| Social Trading Network | Program Name | Account Type | Revenue | Network Requirements | Broker Choice | Instruments Traders Can Trade | Trading Terminals | VPS | Use Robots/Scripts | Information Shared | Social Interactions | PAMM | Website | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZuluTrade | Trader / Signal Provider | Demo or Real | 0.5 pips per lot traded by a live follower | 31 closed trades required to get listed + Max DD < 30% and average pips per trade > 5 to get listed in Europe | 50 + brokers, including their own (AAAfx) | Forex currency pairs, gold, silver, commodities, indices, bunds | ZuluTrade platform (browser, Android and iOS) or MetaTrader | Yes (Free) | MetaTrader and ZulutTrade scripts | all closed and open trades (10 min delay) | ratings, comments and forum | No | ZuluTrade | |||
eToro | Popular Investor (aka Guru) | Real | From $350 per month up to 2% of copiers funds + spread rebate | Active live account + display your real name | eToro is the broker | Forex currency pairs, Indices, Gold, Silver, Oil, selected stocks | eToro platform (browser, Android and iOS) | No | No | last 100 closed and all open trades | comments | No | eToro | |||
Ayondo  | Top Trader | Demo or Real | $1 to $5 per lot traded in live follower accounts (depending on your performance) | number of trades and positive performance required to get listed | Own broker (ayondo markets) | FX currencies, Indices, major commodities, interest rates/bonds, selected stocks | ayondo markets (browser) | No | No | all closed and open trades | none | No | Ayondo | |||
Myfxbook  | AutoTrade Provider | Real | 0.5 pips per winning trade | Min. $1,000 balance, 3 month history, min. 100 trades, DD < 50%, avg. pips > 10, return > 10% | 20+ brokers | Forex currency pairs | MT4 | depends on broker | MetaTrader scripts | provider decides what to share | forum | No | Myfxbook | |||
Darwinex | DARWIN provider | Real | 20% success fee on net quarterly profits generated based on 'high-watermark' principle | 1-2 months history (depending on trade frequency) | Darwinex is the broker | Forex currency pairs, commodities and indices | MT4 | No | MetaTrader scripts | proprietary performance indicators (no actual trades) | none | No | Darwinex | |||
Tradency  | Strategy Provider | Demo or Real | Dependent on follower broker, shared $3.75-$5 fixed fee or 0.15-0.3 pips volume fee | 1 month evaluation process | 20+ brokers | Forex currency pairs | Broker dependent (MetaTrader) | depends on broker | MetaTrader scripts | all closed and open trades | none | No | Tradency | |||
InstaForex | Trader | Real | commission daily or per trade or per volume of copied trades or profit share (you set value) | none | InstaForex is the broker | Forex currency pairs, commodities, stocks and futures | InstaForex WebTrader or MetaTrader | Yes (up to free) | MetaTrader scripts | account balance | forum | Yes | InstaForex |
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