In recent years, copy trading has become one of the most popular techniques to make passive revenue in the financial market. Beginners may possibly make as much as pros by utilizing specific platforms and features that enable them to emulate seasoned traders.

What is Copy Trade? 

Copy trading is exactly what it sounds like. You choose an experienced trader to follow and then replicate their trading moves. Assume the trader you’re tracking purchases 100 shares of a certain stock. As a consequence, you would purchase 100 shares of that stock. You would do the same if they allocated 5% of their portfolio to a single stock sector.

The trick is to follow a trader whose investing style and aims are similar to yours. For example, if you invest cautiously, you would emulate someone who trades conservatively. Similarly, if you are a growth investor, you should not mimic the trading activities of a value investor.

Copy trading may be done on your own or via a copy trading website. The latter enables you to choose a trading activity to replicate. Meanwhile, it makes investments on your behalf. Trades take place automatically, so you have very little to do. You may, however, pick which investor to follow. Also, ensure that you have enough money in your trading account to cover any transaction activity.

What is Called Passive Revenue? 

Passive income is money earned without performing a lot of active effort, such as renting out an extra room in your house. Unlike active income, passive income may be earned from a single activity, such as authoring a book.

Passive income may be an excellent supplement to a full-time career. You may be able to quit working entirely if you have enough passive income sources.

Making money from passive income often necessitates the establishment of numerous sorts, or “streams,” of passive income. You may be able to complement or replace conventionally earned income by maximizing your possibilities to earn without actively working. Passive income comes in many forms, including rental property, dividends, capital gains, interest, royalties, and company revenue.

How to Make Passive Revenue with Copy Trade?

When you copy trade, you take use of the knowledge and experience of another trader in the financial markets. To pick which stocks to purchase, sell, or keep, you do not need to research stock market movements or patterns. You may just adhere to a pro-investor. Assume you’ve chosen someone whose portfolio routinely yields large profits. As a consequence, copying them should enable you to do the same.

The majority of copy trading is done passively. You’re making someone else take on the burden of choosing investments, which is no small feat. You may increase the value of your portfolio without spending hours analyzing the market. Diversification and risk management are also carried out since the pro trader is in charge of investment selections.

Because of its qualities, Copy Trade is also regarded as an excellent passive investing approach that generates variable income, accumulates assets, and teaches participants how to manage their own money. The following are the most notable advantages of copy trading: 

• Invest without complete information: Copy trading allows traders with little expertise to invest, whether they are beginners or have limited time to trade themselves. Following and imitating the strategies of great cryptos traders may be advantageous.
• Save time: The fact that the vast majority of the technique can be automated is key to the copy trade. Select a signal source or trader to replicate, and the copy trading platform will usually handle the rest based on the investor’s preferences. This may save a substantial amount of time as compared to manually inputting transactions.
• There are statistics available: This data is critical for risk management. Before entering into a relationship with a trader, the user should examine data and investigate the specifics of his operation.

There are a few characteristics to consider when selecting an investor to emulate:

• How long have they been trading?
• Track record of investment success.
• The number of available vacancies.
• Typical investment holding period.
• Investment kinds that are preferred.

Think about the goals you have for your portfolio as a whole. For example, if you want to learn more about alternative investing, you may follow someone who specializes in hedge funds, commodities, or FOREX. If your aim is to mirror the market’s performance rather than outperform it, you could lean toward a professional investor who likes an index approach.

Top Copy Trade Platform to Make Passive Revenue

The following are the most notable copy trading platforms that investors have relied on in recent years.

WeCopyTrade

WeCopyTrade is an outstanding copy trading tool for new market participants. They are committed to long-term relationships with traders by creating the greatest environment for them to grow and thrive. WeCopyTrade covers all of the components of a suitable fast-financed program for you to choose from. WeCopyTrade furthermore offers a WMT program that offers Funded Trading packages to assist customers in obtaining reliable sources of funds for novice investments.

• Use the WMT fund account to mimic trades made by elite traders at wecopytrade.com to ensure steady earnings. 
• Offers novice traders a training program that goes along with Funded Trading with 60% profit share.
• Able to automate copy trading
• Profit from another trader’s errors and minimize loss exposure by employing reverse stop loss and take profit.
• Change the starting and ending prices of the duplicated transactions.
• Filter orders to be replicated by size, pair, and quantity of orders.

3Commas

3Commas is a platform that offers consumers basic to complex bot trading options. Users may deploy 21 highly configurable bots across 16 cryptocurrency exchanges. It enables users to operate several instances of trading bots, as well as imitate expert traders’ deals and incorporate their techniques into the bots they are operating.

Users may use 3Commas to monitor their crypto portfolios, configure them to rebalance automatically or via a bot, manually rebalance them, and monetize them as they see fit. They may, for example, link all of their wallets on several exchanges and track the success of their portfolios while determining how to invest in each currency.

• Every month, around 330,000 DCA bots are active.
• Over the last year, 10,583 new users profited in their first month.
• DCA bots have pre-programmed tactics, so you won’t have to wait long to get started.
• With iOS and Android mobile apps, you can check your portfolio data from anywhere and even initiate new transactions.

NAGA

This website enables users, particularly novices, to duplicate the trades of over 9,000 expert users or method providers who have been thoroughly and severely chosen via numerous levels of selection. The Most Traded page displays the most traded financial instruments on the site, which may be added to one’s favorite instruments by clicking a star beside them.

In terms of copy trading, the platform allows you to examine transaction and trader information to select who to mimic.

• Tools for education and research. Before you begin replicating trades, watch video courses.
• Bank transfers, bank cards, Sofort, Neteller, Skrill, and cryptocurrencies are all available for withdrawal.
• Users may trade over 1000 different financial items.
• Strategy providers may make money.
• You may change the investment amount and other elements as you duplicate the deal.
• You may also keep up with industry news, locate information released by brokers’ public channels, and communicate or chat with other traders, making it similar to a social network.

FX2

FX2 is a trading platform that provides traders with the tools and data they need to trade in whichever currency they desire using their favorite trading style. What makes FX2 so tempting to traders is that they provide real/live money for traders to begin with. Most prop trading organizations provide demo accounts to their traders, but not FX2.

After completing a simple assessment exam, you will be allowed to trade on a live account with a genuine track record. You will also be able to seek further funds. FX2’s trading regulations are very appealing to us. The period of time is limited. The platform supports weekend holding and news trading, making it simpler to pass and receive financing.

• Profit distribution of 85%
• There is no need for stop losses.
• Evaluation in a single stage
• Accounts with up to $200,000 in funding
• Payouts are made quickly.

WeMasterTrade offers a variety of bonuses, as well as training sessions and blogs that supply traders with detailed information. Go to https://wmt.wecopytrade.com/  and sign up for immediate financing trading to try it out for yourself.