AutoTrade Help

How do I open a demo account?

You can open a demo by going to the AutoTrade section and clicking the large orange 'Open Demo' button.

How does AutoTrade copy trades?

We run MetaTrader 4 terminals on our servers which can communicate with each other using expert advisors. Once a new trade is discovered in the provider's account, the terminal quickly sends trade commands to the all of the following terminals.

How can you ensure I get the same trades as the AutoTrade provider?

The AutoTrade system was designed specifically to ensure smooth and correct mirror trading. Trades are copied instantaneously, although delays (which are out of our control) can happen, such as broker execution speed at high liquidity times (such as important economic news). In the rare case a trade failed to be copied, AutoTrade will keep trying indefinitely to re-enter the market with an equal or better price (compared to the original price).

How can I subscribe to the systems?

After opening a demo or a live account, you can go to the AutoTrade section and click 'Manage' to enter the management screen of the account in question. Below you will see the currently subscribed and available accounts. 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.

Available systems

How do I unsubscribe from a system?

Simply go to your management screen and click the 'x' icon on the right of the trading system.

Remove a system

Any trades opened by the unsubscribed system will be no longer managed by it. In case you subscribe to the system again, it will resume managing the trades.

How many AutoTrade system can I subscribe to?

There is no limit to the number of AutoTrade systems you can subscribe to and alhtough it is smart to allocate several AutoTrade systems to diversify, keep in mind that the more systems you subscribe to, the less funds each system can use for trading which can affect its performance.

Which systems should I subscribe to so I can get the highest return and avoid losses?

It is impossible to predict future returns and drawdowns and although we do make every effort to filter out bad and dangerous systems, even successful systems have drawdown periods which cannot be avoided.

How do I adjust risk?

When you subscribe to an AutoTrade provider, you can change the multiplier value (either at subscribing or afterwards in your management screen); changing this value will show you immediately the hypothetical return and risk you could have based on the data gathered so far. A multiplier of value 1 means you're getting the same risk ratio as the provider.

Adjusting risk

How a lot size is calculated?

In order to adjust the risk taken in the provider's account to yours, we use the following formula:
contract_size_ratio = follower_contract_size/provider_contract_size balance_ratio = follower_balance/provider_balance
account_currency_ratio = follower_account_currency to provider_account_currency ratio

follower_trade_size = provider_trade_size X contract_size_ratio X balance_ratio X account_currency_ratio

If trade size is lower than minimal lot size (0.01), the minimal lot size will be used instead.

How risk is calculated?

Risk is the maximal drawdown of the subscribed systems and appears in the risk - it ranges from 0% to 100%. When you adjust the multiplier of each system, you will notice the risk bar adjusting accordingly, showing you the total risk in real time.

Please note, in an effort to protect your account's equity, we do not allow setting a risk of more than 100%.

How can I close trades manually?

You can close the trades through your trading platform, or through your management screen - click on the 'x' mark on the right of the trade and confirm to close it.

Closing an order

Re-entering trades

When you close a trade manually through your AutoTrade, you have the option to re-enter the trade at a better price automatically. This is very useful if you have a trade in profit which you want to close and if the price reaches the entry price again, the trade will be copied again - this way you can exit the trade with a profit several times in case the market ranges back and forth from the entry price.

Re-entering a trade

Analyzing trades of your subscribed AutoTrade systems

When opening a demo or a live AutoTrade account, the account is automatically added to your portfolio where you can analyze it just like any other trading system on Myfxbook.
Go to your system in your portfolio and find the 'AutoTrade' tab in the system page, in the 'Trading' tab - there you can find analysis by AutoTrade system:

Analyzing AutoTrade

Analyzing different dates with custom start will also analyze in real time the AutoTrade systems.

What is the minimal balance I should use for each system?

Although you can start using AutoTrade with $1000, this does not mean that each system is optimized to work with $1000 - it depends entirely on your risk settings.

Minimal Balance

Next to the multiplier value, you will see a minimal balance to be used with the system. Check the total minimal balance at the bottom of the table to know how much total balance you need to work with your AutoTrade setup, for accurate results.

Minimal Balance

Why is it important? When a system is copied, the smallest lot size can be 0.01, so anything below it is rounded up to 0.01 and here is where your risk increases - the more it is rounded, the less accurate the risk ratio compared to the provider. If for example you have only 50% of the minimal balance, your risk is double (100/50) than what it should be. At 10% it is 10 times higher (100/10) and at 1% it is 100 times higher (100/1)!

How is it calculated? Our systems constantly scan the last 50 trades of each system to find the smallest lot size used. When you change/update the multiplier, we then calculate the minimal balance you need to have so the lowest lot size in your account is 0.01 (without rounding) .

Min_Provider_Balance = Provider_Balance / (Min_Lot_Size_Last_50_Trades / 0.01)

Min_Balance_To_Follow=Min_Provider_Balance / Multiplier

What happens if a system is disqualified from AutoTrade?

In rare cases, if a system doesn't meet the AutoTrade program requirements (for example using a non acceptable trading style such as Martingale or Grid), it will be disqulified from AutoTrade.

By default, any open trades of the system will be closed in your account automatically. If you wish to leave the trades open, you can do so by clicking the settings icon in the AutoTrade section for the system in question and disabling it:

Minimal Balance

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.