Last update 2020.10.15
Once upon a time but not so long ago the words ‘financial markets’ painted a picture of suited men huddled over desks and phones intently watching black and white screens. Fast forward two decades and an exponential leap into the technological era later, the financial markets are not only accessible from your sitting room, but to almost anyone who wants to trade and learn the craft can get involved. Even novice traders and those with limited time can trade, thanks to innovations like copy and social trading in forex.
Currently, the foreign exchange market (forex) has an estimated turnover of $5 trillion worth of transactions daily. That ten-digit figure has people flocking to find ways to take a bite of potential profits by trying their hand at trading.
With the actual willingness to post everything online, we can see what influence and successful people are doing in their own investments, so we can mirror their movements and try to make the same profits. It is called Copy and Social Trading.
Copy-trading means that anyone with only a basic understanding of the financial markets and forex trading can access trading opportunities- without spending years familiarizing themselves with the technical and fundamentals of the market. Copy-trading also provides potential opportunities to trade to those who lack the time to follow every market twist and turn.
This sounds very enticing. Instead of constantly reading the news and trying to conclude, and spending much time with the technical analysis of price movements, you just copy successful traders.
To copy forex traders means to invest capital into the strategy of a suitable forex trader. Your positions mirror theirs, and you pay an agreed percentage on any profitable trades. However, while you share all of the potential rewards, you also share all of the risks. So, choose your trader to copy carefully.
Basically, the Copy Trading provider gathers people who are available to share its investment strategy using monetary or non-monetary incentives.
Portals like eToro.com are recognized worldwide for being the first to move from automated trading operations to Copy and Social Trending. There you can find the outcomes of other participants and can copy their operations with different degrees of automation.
There are lots of Portals trying to outstand in Forex
These portals do it by calling its strategy by different names, like mirror trades, copy trades, and social trades. They have the same basic concept: if someone is making money trading, I can do the same if I have all the information.
But there is a catch because if you stimulate the ego of traders to be more profitable than others (and probably paying something to the best players) them, they probably will take more risk to try to be in the top list of returns.
It can be riskier to traders which follow them blindly. Remember, past results do not guarantee future returns.
The growing use of Artificial Intelligence (AI) relies on its capability of being more “cold” than social traders trying to gather more followers to improve its reputation. That is where the bigger risk resided.
Probably nowadays the social traders are also using tools such as bots and Artificial Intelligence in their trading decision-making process (but probably they will not show you that in full details for free).
Copy Trade strategy is well-known nowadays, that is what Wiseinvest provide to all our customers. But instead of following a flesh-and-blood person, you will follow a powerful Artificial Intelligence to trade forex.
Wise trades are better than the standard Copy and Social Trading Systems because it is not dependent on human mood. You can trade automated with AI or manually with forex signals. Another advantage of Wiseinvest is that you can trade in the Broker of your choice. In doing so, you can pay lower spreads.
By using the Wiseinvest AI Trading system, there are also other features like our Risk Management which helps to calculate the position size more appropriate for your investment capability.
The best way to trade forex
There are two ways to invest with our AI in forex:
1. Automated with AI-Trading. Check out the 3 steps to trade automated with our AI.
With Automated AI trading you do not need MT4 / MT5 and other trading platforms to invest in forex. All forex trades are automatically placed into your broker account every time that our AI system identifies a new worthy trading opportunity. You can monitor the AI trading performance in real-time directly on our dashboard.
Automated AI trading benefits
- Setup in 3 minutes.
- Totally hands-off, from anywhere.
- Invest from just $1.
- APY of 40% over the past 13 years*.
- Lightning-fast execution & no slippage.
- No commissions, no management fees.
- Portfolio with 40 different automatic strategies.
- No MT4/MT5 or other platforms required.
- Test with a risk-free practice account.
- Trading results directly on our dashboard.
Don’t you have a broker account yet? Our AI is integrated to trade automated with the broker Oanda. Click here to open an account.
2. Manually with AI forex signals.
Wiseinvest also provides AI forex signals that perfectly fit into MT4, MT5, and any trading platform. To trade with our AI forex signals, you must simply copy the data you receive from each real-time signal into any forex brokerage account of your choice.
There are five unique variables for each AI signal, and each must be copied exactly, to match the performance of the signal as close as possible.
Each AI forex signal alert consists of the following five data points:
- Symbol (forex pair)
- Direction (long or short)
- Position size (number of units or lots)
- Take profit (price level to exit with maximum gain)
- Stop loss (price level to exit with maximum loss)
Check out how to trade with our AI forex signals.
- Subscribe to a Wise-Plan.
- Open a Brokerage account. Check this article about the best forex Brokers.
- Set an amount and a position size on our Wiseinvest dashboard.
- Our AI will send you real-time trading alerts by email and Telegram.
- Copy the signals and paste into your Brokerage account.
All forex signals are sent every time that our AI trading system identifies a new trading opportunity. Our trading strategies are developed on a variety of time frames such as 4 and 8 hours.
Wiseinvest AI forex signals are Market Orders and you do not need the entry price. You can copy each signal while it is available on our dashboard. We do this way to assure that traders will just place signals while they are good to be traded.
You can trade forex with our free forex signals clicking here, or with our Premium subscription that provides you unlimited AI signals and automated AI trading in partner brokers. Whether you are a beginner or a professional forex trader, our AI trading system can help you save time and improve your trading performance. Get started with free AI.
When investing through Wiseinvest automated AI trading or AI forex signals, you do not need to calculate pips and change the leverage in your forex broker account. Learn more about leverage in forex trading by clicking here.
What is the AI performance in forex trading?
The Win Rate of our AI varies according to the period and can reach up to 95%. The performance is based on the efficient frontier measurement metric, which means that our model is profitable whenever the Win Rate is greater than 60%. All strategies of our AI trading system seek stable returns and sufficient results to achieve an average return of 40% per year (APY), without the use of high leverages.
We understand that what matters in forex trading is the final result. Thus, the investor needs to consider that Win Rate is not always the best metric to measure performance in forex, as other signal providers disclose. For instance, out of 100 trades, only 1 trade may be enough loss to make the 99 trades not profitable. In this case, the Win Rate would be 99%, but the final result would be unfeasible (negative).
We focus on the return of 40% of APY and not just on Win Rate.
It is essential to observe that forex brokers may charge spreads, commissions, and overnight fees in your trading account, and these factors can affect the AI performance. You can check our forex trading track record to understand more about AI trading performance by clicking here.
How much do I need to trade forex with AI?
You can start in forex trading with free AI signals or an AI trading account and deposit just $1 in the broker. It is also possible to test using a risk-free practice account with our AI trading system. However, to do efficient risk management in real accounts, we suggest you start from at least $100. Notice that some forex brokers require different initial deposits to trade forex.
What is the trading strategy of our AI?
Our AI strategy is the combination of different AI trading systems, with more than 100 features, that define 40 different strategies which simultaneously consider: Quotes of the 28 forex pairs, Supports & Resistances in different time frames, Trends and Counter-trends, Cross-indicators, Index of each pair, Economic Calendar, Investors Sentiment.
Our AI analyzes those fundamental, technical, and sentiment factors that affect forex trading, and all criteria are evaluated in real-time using different weights. After completing the analysis, the choice of the signal emission strategy is made considering the increased likelihood of short-term profit and the amount available for investment.
Using technical analysis, our algorithm considers not only the patterns of various trends, including support and resistance levels and cross-indicators, but our AI is also able to create its own real-time index for each currency pair, that is used to identify what is the best direction and target.
In relation to fundamental analysis in forex, the AI makes a correlation within the economic calendar to find news data that can affect specific currency pairs.
- Copy and Social Trading is an easy to follow strategy: There you can see the previews, results of whom you will follow.
- A disadvantage of trading in platforms like eToro.com is the high costs.
- What Wiseinvest provides to you is even better with automated AI and you can trade in the broker of your choice with forex signals.
- You will follow an Artificial Intelligence Agent: which is not susceptible to mood swings.
Disclaimer: Forex and Contracts for Difference (CFDs) are complex instruments and come with a high risk of losing money due to leverage. Forex trading is not suitable for everyone. You should consider whether you understand how forex and CFDs work and whether you can afford to take the high risk of losing your money.
The forex brokerages displayed shall disclaim the overall performance of traders in their platforms. Oanda warns that 76.8% of retail forex traders lose money trading CFDs. XTB warns that 80% of retail forex traders lose money trading CFDs. FXCM warns that 74.74% of retail forex traders lose money trading CFDs.
The performances aforementioned are not related to Wiseinvest AI forex trading and AI forex signals system. You can check the performance of our AI forex system on our dashboard.