Myfxbook Autotrade service
What is the Myfxbook AutoTrade service?
AutoTrade is the next generation account mirroring service (trade copy) that allows you to copy trades of the most successful traders. Traders and their performances are published on the website of Myfxbook, so that you can browse through them and select the one that best fits your requirements. What makes this service stand out from the rest of the crowd is that there is no need to install any additional software or rent a VPS, only profitable systems are listed.
Why should I use the AutoTrade service?
Well, first of all, if you are a newbie, this service is exactly what you need, because you will be able to learn trading forex following the steps of more advanced, sophisticated traders. Even if you are an experienced trader, this service presents you with a possibility to add new trading strategies to your toolbox. In general, this is a great way to diversify your investment portfolio by following different strategies.
How do I get connected to the Myfxbook Autotrade service?
The whole process can be broken down into 3 steps:
- Account opening
- Account Funding
- Linking your account to Myfxbook.
Once your Myfxbook account has been opened, you will need to fund it with at least $1000 (this requirement has been imposed by Myfxbook). Once your Myfxbook account has been funded, you can go ahead and link it to the Myfxbook.
I am a new client and I want to use this service, where do I start?
The first thing you need to do is open a Myfxbook account. This is a special account type we came up with for this particular service. We offer two different account types – Myfxbook Autotrade and Myfxbook Autotrade ECN. The first account type is based on our Classic accounts and the second is based on our Pro accounts. Please click here to see the comparison table. If you are a new client you can open one of these accounts by clicking here. Existing clients can open a Myfxbook account from within their back office user profile. Check out the section below for more details on the account opening procedure for existing clients.
I am an existing FXChoice Client, where do I start?
Log in to your Backoffice profile, go to the Services tab and select Myfxbook Autotrade. From there on, follow the on-screen instructions. There is also a second way to go about this, once you are logged in, you will see an Open live account link towards the bottom of the page. Click on that link and it will take you to our account opening form where you will be able to select the Myfxbook account.
What is the minimum required deposit for the Myfxbook Autotrade service?
In order to be able to use the Myfxbook service, your account must be funded with at least $1000.
My account has been funded, what’s next?
Once your account has been funded, you will receive an email notification from us. Click on the link in that notification to finalize the procedure. When you click on that link you will be asked to log in to your back office profile. From there you need to click on the Connect to Myfxbook button and you will be forwarded to the Myfxbook website where you will be able to finish the process. You will need your account details, so it is a good idea to find our welcome email for the account you are going to connect to Myfxbook.
I have successfully linked my account to the Myfxbook Autotrade service, what’s next?
After submitting an application to link your account to the Myfxbook Autotrade service, they normally ask for 24 hours to review your application.
My account has been approved, how do I copy trades of other traders to my account?
Once your funded trading account has been linked to the Myfxbook Autotrade service, you can start copying other systems. Log yourself into your Myfxbook profile, go to the AutoTrade section and click ‘Manage’ to enter the management screen of the account in question. Click ‘AutoTrade’ on the system of your choice. Another alternative is when viewing a system which is an AutoTrade system, you will notice the orange ‘AutoTrade’ button at the top – click it to subscribe.
Does Myfxbook support my country?
Myfxbook does not permit clients from Iran, Israel and the US due to regulatory restrictions.