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:
- stop copying trades at any given time by selecting ‘Stop copying’
- edit the parameters of copying via the Edit function both prior to investing with a Master and in the course of copying trades
- copy any number of Masters (all current subscriptions can be found under the My tab in the Master Rating or your Copier Area)
- close any copied trade manually at any time in the Copier Area.
- 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.
- set one of two options how the volume of the Copier’s investment will be calculated for participating in every investing operation for every particular Master (Full Size Copying 1-to-1 or In Proportion to the Copier’s Funds). These two options are expressly explained in Clause 4, Sub-clause 5 of these Terms and Conditions.
3. The Service is available on the Metatrader 4 platform.
4. Opening copied trades routine:
- The Copier only copies the trades that were opened by the Master after the subscription for the Master within the Service.
- 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.
- 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.
- 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.
- The volume of the copied trade is selected from two options.
5.1. Full size copying 1-to-1 means that the volume of the trade the Master opens equals to the volume of the copier trade, opened for the Copier.
5.2. In proportion to the Copier’s funds means that the volume 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.
- The Copiers’ leverage ratio is set at 1:500. The Copiers willing to adjust it need to contact the OctaFX’s Customer Support.
- 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 type.
9. The Service is entitled to restrict the number of Master Accounts the Masters may create at any time without prior notification at its sole discretion.
10. The Master determines the type of commission (of two types—‘Fixed per One Lot’ and ‘Revenue Share’) and its amount for copying orders independently. The Fixed per One Lot commission can range from $0 to $15 per trading lot opened by the Copier. The Revenue Share commission can range from 1% to 50% of the Copier’s gain. Commission charges accumulated within one week are paid out to the Master’s Wallet at the end of the week.
11. a) If the Master charges the Fixed per One Lot commission and 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).
b) If the Master charges the Revenue Share commission and is an IB for the Copier, the aggregate commission (IB commission + Copytrader commission) amounts the IB commission amount + Revenue Share commission amount.
12. Copytrading Bonus
-The Bonus amounts 50% of the funds invested at the beginning of copying a Master Trader.
-The Bonus can only be applied once with a single Master Trader within the dates of the promotion.
-The Bonus cannot be applied to the ongoing investments.
-If the equity of your account becomes less than the bonus size, the Bonus is cancelled.
-The Copier can cancel the Bonus manually in the Copier Area.
-The Bonus is cancelled when the Copier stops copying the Master Trader.
-After cancellation, the Bonus cannot be applied again or reactivated.
-OctaFX may reject client's bonus application(s) at any time without prior notification or providing reasons for such decision.
-OctaFX may cancel a client's bonus at any time without prior notification.
-Any situation not described in these rules shall be subject to the Company's decision.
-OctaFX reserves the right to change, update or cancel this promotion with notification in the Company news.
13. Free Trial
-The Master Trader can activate and disable the Free Trial at any moment.
-The Free Trial automatically activates when the Copier initiates copying the Master Account if:
- the Master Trader has the Free Trial available for this Master Account
- the Copier has not previously activated the Free Trial for this Master Account.
-If the Master Trader voids the Free Trial, it continues to work for the Copiers who have already activated it.
-If the Copier stops copying the Master Account while the Free Trial is active, the Copier cannot reactivate the Free Trial for thie Master Account.
-After the Free Trial expires, the Copier's subscription becomes subject to the prior conditions, including the commission amount.
14. The commission type is set once upon creation of the Master Account and is not subject to change afterwards.
15. The Copier’s trading statistics can only be viewed by the Copier.
16. The Master’s trading statistics are available for the public.
17. The Copiers do not have access to the trading terminal. All actions with their subscriptions and trades are made under the Copier Area.
18. If the Service reasonably suspects that the Copier violated the Deposit and Withdrawal rules set out under the Customer Agreement or the legislation of the country of the Copier's residence, the Service is entitled to suspend providing the services to such Copier.
19. Please mind that the Master can make both profitable and losing trades.