TradeCopier FAQs
Do you have questions about how to use TradeCopier? Well, you’ve come to the right place. We’ve put together a list of your most common questions about using TradeCopier. We think we’ve covered everything.
If the answer to your question isn’t here, then please don’t hesitate to get in touch with our Customer Success team.
You can reach our Customer Success team at support@tradenation.com
My Account
How do I create an account?
To create an account you first need to download our TradeCopier app from the App Store or Google Play.
Then, open TradeCopier and press the "First time here? Create your profile now." button at the bottom of your screen. Simply input your details and wait to receive a verification email before logging in.
How do I connect (link) my trading account?
To link your Trade Nation account, click on "Account" on the bottom right of the app and scroll down to "Link Account". Here you can add your Trade Nation MT4 server, trading account number, and password. Then select whether you want to be a “Copier” or a “Signal” receiver.
Can I use multiple MT4 accounts in my TradeCopier account?
You can only use one Trade Nation MT4 account per profile. To set up additional trading accounts you will need to log out and click "First time here" again and create a profile for each trading account.
How do I switch trading accounts?
Navigate to "Account", select "Link account" and input your new trading account details.
How can I change my account details?
Select "Account", and then "Edit profile". Here you can change your name, signal name, and search handle.
How can I change my name on the TradeCopier?
You can edit your name, signal name and search handle by navigating to your "Account" and then selecting "Edit Profile". You will only need a search handle if you hide your profile.
How do I change my password?
Click log in, "Forgot password" and "Reset password". A link will be sent to your email.
I did not receive a "reset password" email, what do I do?
Have you signed up before? If not then your email won't be registered in the app and no email can be sent. Please click "First time here" and sign up. Please check your spam folder or contact Support - support@tradenation.com
How can I add funds?
In order to add funds select "Account" and then "Deposit / Withdrawal". You will be directed to the Trade Nation client portal where you can login and deposit using a variety of methods.
How can I withdraw my funds?
Simply login to your account portal via the Trade Nation client portal and make your withdrawal request.
How can I manage my notifications?
Once you open TradeCopier, press the "Account" icon at the bottom right of your screen. Scroll down, and under the "Manage" heading select "Settings". Then select "Notification settings". Then configure the notifications to your personal preference.
How do I unlink my trading account?
Navigate to "Account", "Settings", "Account Information" and select "Unlink account". Please note that you will be automatically redirected to the "Discover" section.
How do I delete my account?
Navigate to “Account", "Settings", "Account Information" and select "Delete account". Please note that when you select this option you will be automatically logged out.
I would like to be paid to introduce users, how can I sign up as an Introducing Broker (IB)?
If you'd like to be paid for introducing users then please email partners@tradenation.com
Why is TradeCopier showing incorrect profits on my profile?
Very occasionally a trader’s profile may display incorrect stats. Please let us know if this is the case by emailing: support@tradenation.com with a picture of your trading history which can be found on MT4.
I'm having trouble downloading TradeCopier, what should I do?
TradeCopier is available in almost all App Store and Google Play locations. However, there are some regions where this is not the case. Please email us if you cannot find it in your region support@tradenation.com
Can I connect my Trade Nation Demo Account to TradeCopier?
No, Trade Nation Demo Accounts are not available on the app.
How can I change my leverage?
Your leverage is determined by the account type and jurisdiction from which you are accessing TradeCopier. Contact support@tradenation.com to discuss a change.
How do I change what currency I'm working with?
If you want to change the base currency in which you make your trades, you will need to change your trading account with us.
You will still be able to trade in Forex regardless of your base currency. For example, if you use GBP you can still trade USD/EUR.
How do I reset my Max Drawdown?
There is a common misconception about resetting your “Max Drawdown”. Resetting to zero doesn’t mean you’ve set your warning, soft-stop, and hard-stop levels to 0. It means you have set your current equity value to 0%. For example, let’s say you have $5,000 and a hard-stop level set at 20%. If your equity value drops to $4,000 you will reach your hard-stop level.
If you reset your “Max Drawdown”, this would mean that $4,000 becomes the new 0% and your new hard stop level will be 3,200 (20% of 4,000).
I cannot switch my trading account?
If you are a signal account, you will need to ensure that you have closed all your open trades before you can switch accounts.
I cannot connect my trading account?
There are a few reasons why your account may not connect, so please make sure you check the following:
You are connecting with your trading password not your investor account.
You are entering the correct server, account number, or password.
You are a signal account and you need to close all trades from an existing account you have connected.
Your MT4 password is too long - it needs to be less than 15 characters.
Why is my account showing as disabled?
The following types of traders are disabled on a weekly basis:
- Copiers with a 0 balance and 0 equity
- Copiers copying a strategy with lower than $10 equity as you can't place a trade with a balance that low
- Copiers with a negative balance or equity that do not have a copy trade open
To re-enable a disabled account, go into TradeCopier and copy a signal again. This will re-enable your account, as long as you have a balance above $10-$50.
What languages does TradeCopier support?
TradeCopier is available in many languages! These are: English, Spanish, Portuguese, German, Italian, Arabic, Dutch, Vietnamese, Indonesian, Polish, Thai, South Korean, Malay, Mongolian, Chinese (Traditional), Chinese (Contemporary), Japanese, Russian and French!
What Operating System is required to download the TradeCopier app?
The TradeCopier app requires iOS 11.0 or later or mac OS 11.0 and a Mac with the Apple M1 chip for Apple Devices. For Android it requires the Android 8.0 system or later. To check that you have the latest operating system: iOS: Settings; General; Software Update; Install now, Android: Go to Settings; General; Software Update; Install Now.
Trade Copying
How do I copy a trader?
To copy a trader, select the "Account" or "Signal" you would like to copy on the "Discover" section on the app. Select "Copy" and then choose your "Trade Size". There are a few options - Proportional by Equity (trade sizes are proportional to the copiers’ equity). Mirror Master Size (trade size is the same as the signal irrespective of the equity on account). Fixed Size (locks the size of trades for all trades).
Select whether you want trades to be rounded to the minimum trade size. This will increase the trade size to the minimum we have available rather than you missing a trade.
You also have the option to "Copy existing trades" which will open the trades the signal provider currently has active. These will be opened at the prevailing market price and not at the price the signal provider opened them.
After selecting the "Trade Size", click "Agree and Copy"
What trade size should I choose as a beginner?
Trade sizes vary depending on the market that you’re trading, your experience and your risk appetite. If you are a beginner, we recommend you take as little risk as possible until you feel comfortable with the system. We have a minimum of just 0.01 lot.
What is a Follower?
A “Follower” is a trader that follows other traders. The follower is able to see all of the trade activity carried out by the account that they’re following.
How do I stop copying an account?
To stop copying an account, you must go into the profile you are copying, and press the "Edit Copy" button. Once you have pressed this, press the red "Stop copying" button and confirm by pressing “Yes” in the pop-up message.
How do I know who to auto-copy?
TradeCopier provides some basic statistics as guidance to an account’s profitability. However, please be aware that past performance is no guarantee of future results.
Can I place my own trades while auto-copying a Signal?
Yes, you can open and close any trades whenever you like.
What is Return?
The "Return" shows how much money the trader has made historically relative to their deposit using a Time-Weighted Rate of Return calculation. It is displayed as a percentage.
How is Return calculated?
We use Time Weighted Return to calculate the return percentage displayed on your profile. Return is measured per trade which means when a trade is closed the percentage gain or loss is aggregated to a total return. The Return excludes the impact of deposits and withdrawals.
What is min p/m?
Min p/m is the lowest number of trades the particular trader has carried out in a calendar month. This measure is calculated from the time that the trader opened their copy/signal account.
What is 12 months total?
"12 months total" is the total amount of trades the trader has done in the last 12 months.
What is Max p/m?
Max p/m is the highest number of trades the particular trader has carried out in a calendar month. This measure is calculated from the time that the trader opened their copy / signal account.
What does "Mirror Master Size" mean?
“Mirror master size” copies the size of the signal that you wish to copy. For example, if the trader you wish to copy has bought $50 worth of GBPUSD, choosing "Mirror master size" will buy you $50 worth of GBPUSD. This function copies the signal trade size for all trades, irrespective your or the trader's account size.
What does Proportional by Equity mean?
When copying a signal, “Proportional by equity” adjusts the size of your trade relative to your account size so it mirrors the size of the signal's trade in proportion to their account size. This means you are taking a similar proportional risk to the signal you're copying. For example, if not copying with “Proportional by equity", and using “Mirror master size”, it could result in buying $5,000 of USTech which would be much more risky for an account with a balance of $5,500 than for one with $100,000!
What does "Fixed Size" mean?
When you're copying an account, “Fixed size” means that you select the total size of the trade you're about to make. So even though you are copying the signal's position, you are not necessarily copying the trade size of the position, but are instead setting a specific one which you select.
What is a Performance Fee?
A performance fee is a fee charged to an account that relates to the performance (profitability) of the signal e.g. If you copy a signal that is charging a 30% fee, and you make $100 profit, your account will be charged $30.
How is a Performance Fee charged?
The fee is calculated daily and applied based on a high watermark being exceeded. They are charged to a copier's trading account when they have been processed and the deduction will be clearly labelled in their trading statement. A deposit will be made in the signal's trading account shortly after, minus a small administration fee.
What is a High Watermark?
The High Watermark is based on the highest value that a client account has achieved. i.e. performance fees will only apply if the copier continues to increase their profits from the results of a particular signal provider. The high watermark is reset each time the copier increases their profits; the gain minus the performance fee will become the new benchmark. If a copier suffers losses, then the watermark will remain the same and performance fees will apply again when they've recovered those losses and made further profit.
When is a Performance Fee charged?
Performance Fees are calculated daily. Fees are then deducted shortly thereafter when they have been processed. They will be labelled clearly in your account.
How is a Performance Fee calculated?
Performance fees are calculated daily. A performance fee is deducted in arrears based on the extent to which total aggregate profit has been achieved considering all closed and open positions, subject to a High Watermark.
The copy trades of different signals are considered in a silo and losses made by copying one signal do not impact the performance fees owed to another; overall profitability of the copier's account is not relevant.
The High Watermark is based on the highest value that a client account has achieved. i.e. Performance Fees will only apply if the copier continues to increase their profits. The High Watermark is reset each time the copier increases their profits. The gain minus the Performance Fee will become the new benchmark.
If a copier suffers losses, then the High Watermark will remain the same. Performance Fees will apply again when the copier has recovered those losses and made further profit. A copier may make a profit which exceeds the High Watermark but then suffers losses in the same reporting period which reduce their profit back below the High Watermark.
Under these circumstances, Performance Fees will be rolled over to subsequent reporting windows (the next day) and paid when losses are recovered.
What if the Signal Account has more money than I do?
There are various things you can do if the signal has more money than you do.You can mirror their master risk, which means that the size of your trade will adjust relative to your account size. This means that the level of risk you take is equivalent to the level of risk the signal is taking. This can be done by pressing on the three dots next to "Trade size" when you are copying a signal, and selecting “Mirror master risk”. If the signal trade size is larger than your balance, you can use leverage to match their size. In this way, you can trade far more than you have available and place your account at more risk.
For example, let’s say the signal you are copying has placed $5,000 on the FTSE 100. If you have $1,000, you could leverage 5:1 to trade $5,000. Please remember, you should be careful when leveraging since the profits and losses are magnified.
By using your leverage, you could use “Mirror master size”, which can be found in the same menu as “Mirror master risk”. You can also choose what size you want your trade to be by choosing “Fixed size” in the same menu as “Mirror master size” and “Mirror master risk”, and adjusting the size yourself. However, note that if you do this, the risk you take could be very different when compared to the signal, depending on your account size.
Can I auto-copy more than one Signal at a time?
Yes. But it is important to be aware of the following: the more signals you copy, then the more trades you're likely to open simultaneously. If you don't have enough available margin you might miss out on some crucial trades from one specific signal. Bear in mind, two signals might be employing conflicting strategies!
How do you set up a Max Drawdown?
After you have selected to copy a user (signal) you will have the option to add a “Max Drawdown”. There are three levels to adjust in your max drawdown: firstly, , you have your “Warning level”. This will show as triggered if you hit that level of running losses. Secondly, you have your “Soft stop level”. If this is triggered then all copying will be suspended. No future copy trades will be placed on your account. Finally, you have your “Hard stop level”. If this is triggered, all of your copy trades will close and copying will be suspended. Please see "How is Max Drawdown calculated?" for more information.
What happens if the Signal account has different leverage from mine?
Our software auto-copies trades as a percentage of equity. It ignores variations in leverage. However, it is important to note that an account that offers higher leverage will be able to open more trades simultaneously than one that has lower leverage. Therefore if a signal runs multiple trades concurrently, be aware that if your leverage levels are higher than those of your copier, you may not be able to open the same number of trades.
I stopped copying a Signal but my MT4 is still receiving copy trades.
Please double-check that you have stopped copying the signal. For more information on how to stop copying a signal please refer to our FAQ explaining how to stop copying a signal. Please note that existing copy trades will remain open until the signal closes the “master trade”.
Why did my trade close without me doing anything?
This was most likely caused by a "margin call". A margin call is when the available funds you have to trade (available margin) has dropped to a level which has triggered the closure of your open trades. You can see how much margin you have on the positions page. Typically, the trigger for automatically closing out existing trades is when "Used margin" reaches 50% of total margin. To avoid having your trades closed, you will need to add funds to your account. Another reason for your trade closing like this is that your drawdown has reached the "Hard stop" level.
When this happens all of your trades close to minimise potential losses. If you don't know what a max drawdown is, or how to reset it to carry on trading, please refer to: "What is Max Drawdown?" and "What does it mean for someone to "Reset their Max Drawdown?"
I missed copy trades?
The missed trades tab on the positions page will give you a reason as to why the trade was missed.
Also, we suggest you check whether your “max drawdown” has been triggered by navigating to "Account" and checking your “max drawdown” status.
If this has been triggered, either reset your drawdown or add further funds to your wallet. Secondly check whether your account has enough funds in it.
I cannot see a copy button?
If you cannot see a copy button on an account that you'd like to copy, this may be for three reasons:
- You are being copied - this will prevent you from copying other users.
- Your account is classified as a signal account. To switch to a copier account, in “Account” navigate to “Link Account” re-enter your details by selecting the option “I want to copy”.
- Your account is a demo account which is blocked from copying.
Copy trades have stopped?
Typically this is because your "Soft stop" max drawdown has been triggered, which blocks all future copy trades - in which case you can either reset your max drawdown or add further funds.
Why can't I see the signal's trade that I copied in my "Activity" page?
The "Activities page" will show a copier the trades of the signals they are copying/following. It will show the trades a signal has made in the past or trades they currently have open. However, the trades will appear in the time zone of the signal so may appear different to a copy trade. The number of trades shown is dependent on the signals’ trading volume. High volume signals won't always have all their trades appear on your activity page.
Why did my trade not copy & why was my trade execution late?
If you click on “Positions” and “Missed”, there will be an explanation for every missed trade. Such as not enough money in your account, market unavailable etc.
TradeCopier works by sending out the request for a trade to be placed. Then it waits for a response from the MT4 server. This is usually instantaneous but sometimes there can be a lag of up to 15 minutes. If the trade remains within the price parameters set by the signal, the trade will be executed within those 15 minutes. After 15 minutes, the trade will not be copied. This is why your trade execution could be late or missed.
Why is my account showing as disabled?
We disable these types of users on a weekly basis:
- Signals with zero balance and zero equity
- Signal strategies with zero copiers
- Signal strategies with zero copiers who have funds below $10
If you have been disabled by us, then please contact us to reenable your account.
Signals
What is a Signal?
A signal is an account that you are copying. Signals can also be referred to as “Strategies”. In your “Account” section you will have a list of signals. The list identifies the different accounts you have chosen to copy.
How can I become a signal provider?
Anyone can be a signal provider and you can select that option when you link your account. Most signals have at least 6 months of trading experience and positive results. We require a minimum opening account balance of $500 or currency equivalent.
How do you open a Signal account?
If you are interested in becoming a signal, please log into TradeCopier, navigate to “Account” and select “I want to charge copiers”. Your account needs to be set up as a signal provider, not a copier.
How can I set a performance fee?
Signals can set a performance fee as soon as they are approved by our team. Please head to the “Account” page and choose “Set fee” and then “Performance”. This can be as much as 50% and can be changed at any point. A copier will pay the performance fee percentage they originally signed up to. A change will only affect new copiers from that point on.
How do I collect any fees owed by copiers?
Performance fees payable to a signal are automatically paid into their trading account.
How can I promote my strategy through the app?
The best way to promote your strategy is through “Groups”. Use the “Share” function to show your trades to your friends and fellow traders and discuss your strategy.! A good “performance” will also move you up the rankings.
What is Spotlight?
This section of “Discovery” highlights signals selected by Trade Nation. It is often based on performance or risk levels but there are other filters that can be applied. Please note that past performance is by no means a guarantee of future performance.
Am I regulated to give trading advice?
No, you are not allowed to give trading advice on TradeCopier or any other form of social media. You are, however, allowed to share your trade activity using the share function in TradeCopier
Can affiliates post about their own trading profits, whether it’s TradingView/MetaTrader etc. If so, what do they need to say and/or what disclaimers (if any) are necessary?
You can only share your trading performance using the "Share" function in the TradeCopier app.
You are not allowed to take any form of screenshot of your trading performance and post these in other social media. If you choose to do this, you are liable to be sanctioned by the Financial Conduct Authority (FCA).
Groups
What are Groups?
Groups are platforms through which you can chat about the markets, share details of your positions and generally improve your trading experience by interacting with a community of traders. Each group is different and has its own unique purpose. You can check whether groups are of interest to you by looking at their biography. There are different types of groups. Some are public which means anyone can join, while others are private and so by “invitation only”. The Group Administrator controls how much interaction there is, and can also make changes to this. If you haven't looked at any groups yet, check them out! You can find what groups your friends and other traders are in by clicking on their profile, and scrolling down to "View groups".
How do I create a group?
Tap the "Activity" icon in the bottom navigation, then the “My Groups” tab at the top. Here you'll find a list of all the groups of which you're a member. If you're joining a group for the first time this will be blank. Then tap the “+” icon in the top right corner to begin creating your own group. You can then add a group name, description, and a picture. You can edit the group settings at the bottom of this page too. To add additional members to the group, tap the "Invite someone to this group" button. On the next screen you'll see a list of all users on TradeCopier. You can scroll or tap the search bar at the top to search users by name, and toggle them on to add them to the group.
If you want to invite someone to the group who isn't on TradeCopier yet, tap the "Invite a friend" in the top right corner, and select them from your phone's contact list. Once all the traders you want in the group are selected, tap the “Next” button. Here you can give any members of your group administration rights. An administrator can edit group settings, invite other users, and comment in a “Spectator only” group. When you're finished just tap “Done”. That's it, you're done!
How do I join a group?
To join a new group follow these simple steps: tap the “Discover” icon in the bottom navigation. Here you'll find suggestions for all the traders and groups to join and follow on TradeCopier. You can search for public groups by name through tapping on the search bar at the top. Tap on a group to learn more about it and join. If you wish to join the group, tap the "Join" button. The group will then appear under the "Groups" tab at the top of the “Activity” page. That's it, you're done! Types of groups…”Public groups”: anyone can join and comment. “Private groups”: hidden from the activity page, it's invite only. “Spectator only groups”: anyone can join, but not comment. “Paid for groups”: a subscription-based group requiring payment for access.
How do I invite people to my group?
If you want to invite someone to your group, click on "Activity" at the bottom of your screen and then click on "My Groups". Once all of your groups are visible, click on the group that you would like to invite people to, and then press on the icon at the top right of your screen. Then, click on the button labelled "Invite someone to this group".
How do I place a trade on a group wall?
Select the "+" button in the chat function and select "Share trade". Look for the trade you want to post and share it with other traders!
How do I change my group's settings?
Go to the group to which you'd like to make changes. Then press the icon at the top of your screen. In this menu, you will be able to change settings for many of the groups. However, please note that changes to many of the group's features can only be made by its owner.
How do I unsubscribe from a group?
Select the group and press the cog-gear widget at the top right of your screen. Scroll down to the bottom of the page, and press the red "Exit group" button. Confirm you want to exit by selecting "Yes" on the confirmation pop-up message.
How can I delete a group that I created?
Please send a request to support@tradenation.com and we will delete the group for you.
Trading
How do I place a trade?
Tap the “Trade” icon in the bottom navigation. Tap into a market grouping of your choice. Here you can see the “Asset” name (market name), the current live price and the “Change” (amount the market has moved). Simply tap on a market name to expand the market details where you can see a live graph of the market's movements. Either tap on “Sell” or “Buy” to take you to the execution screen. Enter your “Quantity" (stake size), "Stop", and "Limit" (your "stop-loss" and "take profit" levels). You can trigger a trade when the market gets to a certain price by toggling on "Order". Once you're done, tap "Trade" That's it, you're done! You can view, edit your stops and / or limits, or close your trade from the "Positions" screen. Just tap the "Positions" icon in the bottom navigation when done. You can also trigger a trade to open when the market hits a certain price. Just toggle on "Order" and set the price where you want the trade to trigger. Bear in mind that this is a limit order, and it isn’t guaranteed to be executed.
What is Unrealised P/L?
Unrealised P/L (profit/loss) is the current profit or loss of an open position. The unrealised profit and loss is a reflection of what profit or loss could be made if the position was closed in that instant. The P/L does not become realised until the position is closed. This metric does not include any commissions or other transactions associated with the trade.
What is Realised P/L?
Realised P/L (Profit/Loss) refers to the profit or loss on a completed trade. In other words, a position that has been initiated and then closed. This metric does not include any commissions or other transactions involved in the trade. It is measured in the base currency of the MT4 account.
What does "Trade Size" mean?
Trade size refers to how much money you are going to be trading per pip, that is, the minimum market movement. It is usually represented by a number containing two decimal places up to the value of 1, and in integer form from then. This value is proportional to a "lot" size, with a lot being 100,000 units of a currency. So for example, if you work in dollars and place a trade of size 1 you are effectively trading $100,000.
What is "Stop Loss"?
When you are trading, you have the option to set a level at which you would close the trade to minimise losses. This is referred to as "Stop loss" in the TradeCopier app.
If you originally bought a financial market to open, the "stop loss" would be an order to "sell" and close it. If you originally sold a financial market to open, the "stop loss" would be an order to "buy" and close it. Once a "stop loss" order is hit by the underlying market, it automatically becomes a "market order" and is triggered at the next best available price by the TradeCopier app. This could be a less advantageous price than your original "stop loss" order.
This does not apply to copy trades which will mirror the signal trade by default.
What is Balance?
The "Balance" is your realised funds. These are the funds you have that are not being used in a trade.
For example, if you deposit $500 without opening any trades, then your balance will equal $500.
This value is not affected by live trading activity.
What is your Equity?
Equity is calculated by performing the calculation: Balance + or - Live P/L. Your equity tells you what impact your live trade positions have on your balance.
For example, if your balance is $500 and your Live P/L is + $200, then your equity would be $700.
What is Margin?
With leveraged trading, you don’t have to keep the total value of your trade in your account. Instead you trade on margin. Each market has a specific margin requirement for you to open a position. It is typically a percentage of the value of your trade.
When you place a trade, Trade Nation ring-fences a fraction of your equity. This prevents you from opening up more positions than you have funds available.
What is "Take Profit"?
If you originally bought a financial instrument, then you would "take profit" if you sold it to close at a higher price.
If you originally sold a financial instrument, then you would "take profit" if you bought it to close at a lower price.
"Take profit" is a price limit on whatever you're trading. If your trade reaches that particular sell or buy price, the app will automatically close your position.
This is especially useful to guarantee profits, especially if someone cannot be constantly checking the market prices of their trades.
This does not apply to copy trades which will mirror the signal trade by default.
What is Return?
"Return" shows how much money the trader has made historically relative to their deposit using a time-weighted rate of return calculation. It is expressed as a percentage.
What is Leverage?
Leverage is the use of borrowed capital to amplify returns. A leverage figure of 10:1 reflects that for every $ that you deposit, Trade Nation will allow you to place a trade 10 times larger.
How is Max Drawdown Calculated?
Max drawdown is determined by calculating how your running losses compare to your opening balance. It does not consider how your balance might grow. So if you start trading with $100 and increase your balance to $1,000 then a loss of $40 would represent 40% drawdown.
The losses will always be factored against your high watermark - the highest realised profit you have achieved. You can reset your max drawdown to take into account how trading has affected your balance. This is the metric used to determine if your hard stop has been hit and so should be monitored closely. Drawdown will not take into account trades placed by you, nor deposits or withdrawals. If a deposit or withdrawal is made then your max drawdown will need to be reset to adjust to the new balance. The Drawdown figure displayed on the "Account" page in the TradeCopier app is calculated differently and only takes into account realised profit and loss.