What Is a Copytrading Commission?
Copytrade is a platform that allows investors to copy someone else’s trades. But to do so, they need to pay a commission. In this article, you will learn everything about copytrading commission.
Copytrading commission: An overview
When you get into a taxi, you pay a fee to the driver for bringing you to your destination. Like a taxi driver, the owner of a copytrading strategy helps investors meet their trading goals. In basic terms, it is like any other goods or services you can buy; only in Copytrade, this service is the trader’s knowledge, success, and MetaTrader orders.
A copytrading commission is a monthly fee that investors need to pay in order to follow a copytrading strategy. The commission acts as a reward for traders who create a strategy and allow others to follow it. This way, both investors and traders manage to benefit from their mutual deal: investors — from copying profitable trades, traders — from commissions.
How copytrading commission works
When a trader creates a strategy account, they set up the copytrading commission at their sole discretion. The commission is charged once a month and covers the period until the start of the next month. If an investor starts following a strategy in the middle of the month, they will only have to pay the portion that covers the remaining days in the month.
You will see the commission amount when you first start copying a strategy. If you don’t have enough funds to make the first payment, you can top up your account right away.
The strategy owner can change the commission. In this case, existing investors will continue paying the amount they agreed to when they first started copying the strategy. For instance, if you start following a strategy with a commission of $5 and the trader later changes it to $10, your monthly payment will stay at $5.
Note that a commission is simply a subscription fee. It allows you to access a trader’s strategy, but it does not guarantee that all trades will be copied on your account. Always make sure that your account balance has enough funds to copy all strategy trades and don’t forget to top it up when the balance is low.
Is it possible to refund a commission?
It depends. If the trader unpublishes the strategy you follow, you will be reimbursed for the unused days of the month. However, if you unsubscribe from a strategy on your own accord, you will not get the commission back.
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Should you have any questions, contact our Customer Care team via care@hw.site, in the app, or the live chat on the website.
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