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The ascent of forex copy trading – also known as social trading, mirror trading, or auto trading – has been ongoing for over a decade. Thanks to social media and an increasingly faster web, financial news and market analysis propagate at lightning speed.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What is copy trading?

The idea of copy trading is simple: use technology to copy the real-time forex trades (forex signals) of other live investors (forex trading system providers) you want to follow. This way, every time they trade, you can automatically replicate (copy) their trades in your brokerage account.

Best Forex Brokers for Social Copy Trading

 

Before we get started with the list, let’s see what Forex is

Forex stands for FOReign EXchange and represents a foreign exchange market with a trading volume of $ 5.5 trillion per day.
Forex is the largest and most liquid market in the world, open 24 hours a day, 5 days a week, where individuals and companies trade currencies and earn on exchange rate differences.
Forex is also attractive because of the ‘leverage’ it offers, ie for example with 100 euros, you can manage capital of as much as 20,000 euros, which drastically increases the potential profit, while you risk only 100 euros.

Let’s start in order, from 3rd to 1st place:
NUMBER 3: Andrew Krieger
Andrew graduated from the University of Pennsylvania and became widely known when he sold a New Zealand currency known as the Kiwi worth between $ 600 million and $ 1 billion, which exceeded the amount of money in circulation in New Zealand at the time. From that transaction, Andrew came out with a profit of about $ 300 million. He is also involved in humanitarian work, and in 2004 he donated over 350 thousand dollars for the victims of the tsunami.
NUMBER 2: Bill Lipschutz
Born in New York, Bill has always been a good mathematician and an exemplary student. In 1982, he received a master’s degree in finance and in addition to his studies, Bill read everything he could find about stock trading and Forex. It is said that during his studies, he invested 12 thousand dollars in shares and earned 250 thousand dollars in just a few months. However, he soon lost all his money due to high-risk stock trading, after which he turned to a much more stable form of trading – Forex.
Today, Bill is a well-known Forex trader who has earned over $ 300 million in just one year on Forex.
NUMBER 1: Geogre Soros
George Soros graduated from the London School of Economics and set an absolute record in the financial industry. He earned one billion dollars in just one day from one transaction, trading in the British pound. He has written a large number of books on investing and is also involved in humanitarian work, where he has donated over 7 billion dollars to charity.
These were them, the most successful Forex traders of all time, and now find out what kind of Forex trader you would be and how much profit you could make by trading .