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How to become a follower?
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Frequently asked question
Opofinance social trade account is created to help traders copy expert traders’ trade. From your client dashboard, you can access the Opofinance social trade platform. You can follow providers (expert traders) and copy their trades without any delay or slippage without the need to be connected to the internet all the time. Adding to this, your account balance is under your control with full solo access to withdraw from it.
Opofinance social trade accounts don’t apply any fees. However, you will be requested to pay a commission to the provider you follow each month if you generate profits. The commission percentage will be provided to you upon your subscription.
You can use the 4 methods available on this platform to control the volume that can be copied into your account and get closer to your desired strategy. In fact, with this option, you specify how much risk to accept and, as a result, how much lot size will be copied to your account.
You can also control the threshold of possible profit or loss in your account with risk management settings. A total of three rules can be defined for account risk management, in each of which you can provide your own settings.
Depending on the deposit amount you have and your strategy, you can choose one or more providers from the list of public providers available on the platform, after checking the history of a respective, and then activate your subscription.
In the provider's portfolio, you can see items such as their returns and total profit, as well as all their previous positions. Finally, choose the best provider that is more suitable to your strategy.
Yes, you can register both as a provider and as a follower, but Note that the same account cannot be registered both as a provider and as a follower at the same time, and a specific type of account must be used for each.
Yes, you can manage the copied trades through the MetaTrader platform, including closing or amending them if you wish. By default, however, your trades will be managed by the provide
As a follower, you can copy trades from experts and you will win when they do, generating profits without effort.
There are a few steps to follow to start following a provider:
1- Register for Opofinace and pass the KYC process successfully.
2- Create a Social trade live account
3- Deposit a minimum of $200. However, this may vary depending on the provider you choose.
4- check the history of the active providers and choose one or more.
5- Register as a follower on the platform.
After logging in, go to the Accounts section in the Opofinance client area and create the Live Social Trade account. Then, make a deposit and transfer the amount from the wallet to the created social trade account. After That, you can complete the registration process on the social trade platform.
If your existing Opofinance account is either a Social Trade PRO or Social Trade Standard account, you do not need to create a new account to become a follower.
If you have an active subscription to a provider, their opened positions will be automatically copied to your account according to your settings.
Also, If a provider has open positions in their account before you start following them, you can choose whether to copy these existing positions when you activate your subscription. If you decide to copy them, please note that the positions will be copied to your account at the current market price, not at the price at which the provider originally opened them.
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Frequently asked question
The provider's commission is determined by a percentage specified in the provider fee section. This percentage can range from 1% to 30%, depending on the provider's decision. The provider will receive this commission only if the follower's account shows a positive result from subscribing to the provider's services.It should be noted that the provider's fee is calculated monthly.
There is no maximum limit on the amount of the provider fee you can receive. Based on the percentage of profit sharing you have set, you will earn a corresponding profit based on the gains of your followers. The more your followers earn, the more you receive according to your defined provider fee percentage.
Yes, you can register both as a provider and as a follower, but Note that the same account cannot be registered both as a provider and as a follower at the same time, and a specific type of account must be used for each.
To become a provider, you need to have an ECN, Standard, or ECN-Pro account and deposit the required amount to activate your account. Once your account is active, you can register as a provider through the Social Trade section in your client area.
Currently, the social trade platform does not offer the option to limit the number of your followers.
You can update your provider's fee percentage as long as you don't have any active followers. However, if you do have active followers, changing the commission is not possible.
It depends on your existing account type. If your existing account type is one of the accepted accounts for becoming a provider, you can use that account to register as a provider. The accepted account types for becoming a provider are ECN-Standard and ECN-Pro.
There are no prerequisites to becoming a private provider; you can start your activity as long as you have a suitable active account.
However, if you want to work as a public provider, you must trade for at least one month in the account you created, and the overall result of your account must be positive.
As a provider, you will not have any restrictions imposed by the social trade platform, except for the general restrictions that apply to your account as set by the broker.
I am an IB, can I register as a provider?
Yes, IBs can register as providers without any restrictions.
Yes, you can set up different offers with varying profit share percentages and minimum balances.