OctaFX Copytrading Terms and Conditions
OctaFX Copytrading (hereinafter—‘Service’) is a service that allows traders (hereinafter—‘Copiers’) to copy trades from other traders (hereinafter—‘Masters’), and can be activated by selecting ‘Start Copying’.
1. The Copier undertakes to do the following to apply for the Service:
1. be registered and logged in as a client on the OctaFX website
2. add money to the Wallet
3. initiate copying.
2. The Copier is entitled to do the following:
1. stop copying trades at any given time by selecting ‘Stop copying’
2. edit the parameters of copying via the Edit function both prior to investing with a Master and in the course of copying trades
3. copy any number of Masters (all current subscriptions can be found under the My tab in the Master Rating or your Copier Area)
4. close any copied trade manually at any time in the Copier Area.
5. unsubscribe from the Master and stop copying the Master’s trades by clicking ‘Stop Copying’. To unsubscribe, the Copier needs to have all the trades closed. Upon unsubscription, all funds invested with the Master and the profit return to the Coper’s Wallet.
3. The Service is available on the Metatrader 4 and Metatrader 5 platforms.
4. Opening copied trades routine:
1. The Copier only copies the trades that were opened by the Master after the subscription for the Master within the Service.
2. Stop loss/take profit orders will not be visible in the Copier Area, but if these orders are triggered on the Master’s account, the copied trades are also closed.
3. The Drawdown Percentage option is available from the moment of subscribing to the Master’s account and is used to customise the Copier’s risks when using the service. If the difference in percentage between the Copier’s account balance and equity is greater than the value set as the Deposit Percentage when a new trade is opened on the Master’s account, then such trade will not be opened on the Copier’s account.
4. Upon the subscription to a Master, the Copier specifies the amount of funds to be deducted from the Wallet and invested with the selected Master. These funds and your profit will return to your Wallet when you stop copying the Master.
5. The volume of the copied trade depends on the ratio of the leverage and equity for both Master’s and Copier’s accounts, and is calculated as follows: Volume (copied trade) = Equity (Copier)/Equity (Master) × Leverage (Copier)/Leverage (Master) × volume(Master).
Example: The Master account equity is $2000 and leverage is 1:200. The Copier account equity is $200 and leverage is 1:500. 1 lot trade is opened on the Master account. The volume of the copied trade, therefore, is: 200/2000 × 500/200 × 1 = 0.25 lot.
6. The Copiers’ leverage ratio is set at 1:500. The Copiers willing to adjust it need to contact the OctaFX’s Customer Support.
7. Once the service is activated, the trades will be copied to the Copier’s account regardless of whether the owner of the account is signed in or not.
5. Limits applied:
- The minimum volume of the copied trade is 0.01 lot, the maximum volume of a copied trade is 100 lots.
- If the copied trade volume is less than 0.01 lot after the calculation is made, then the trade will not be opened on the Copier Account.
- If the copied trade volume is bigger than 100 lots after the calculation is made, then the trade will not be opened on the Copier account.
6. If the Master changes equity (by making a deposit or withdrawal) or leverage, all the copied trades maintain their initial volume on the Copier’s account.
7. All trading conditions (leverage, swaps, spreads) of the Copiers’ are similar to the ones for the MT4 Micro accounts.
8. The Master Account should be of MT4 Micro or MT5 Pro type. All clients can have any number of Master Accounts.
9. The Master determines the commision for copying orders independently (the commission ranges from $0 to $15 per trading lot that is opened by the Copier). The commission charges accumulated within one week it paid out to the Master’s Wallet at the end of this week.
10. If the Master is an IB for the Copier, the aggregate commission (IB commission + Copytrader commission) should not exceed $15 per trading lot. In this case, the CopyTrade commission shall prevail. For instance, if the Master collects $5 commission per trading lot for the IB services and $15 commission per trading lot for the Master services, such Master will get $15 per trading lot in total ($15 per lot—CopyTrader commission, $0—IB commission).
11. The Copier’s trading statistics can only be viewed by the Copier.
12. The Master’s trading statistics are available for the public.
13. The Copiers do not have access to the trading terminal. All actions with their subscriptions and trades are made under the Copier Area.
14. Please mind that the Master can make both profitable and losing trades.