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:
1.1. be registered and logged in as a client on the OctaFX website
1.2. add money to the Wallet
1.3. initiate copying.
2. The Copier is entitled to do the following:
2.1. stop copying trades at any given time by selecting ‘Stop copying’
2.2. edit the parameters of copying via the Edit function both prior to investing with a Master and in the course of copying trades
2.3. copy any number of Masters (all current subscriptions can be found under the My tab in the Master Rating or your Copier Area)
2.4. close any copied trade manually at any time in the Copier Area
2.5. 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 Copier’s Wallet
2.6. 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:
4.1. The Copier only copies the trades that were opened by the Master after the subscription for the Master within the Service.
4.2. 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.
4.3. The Balance Keeper 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. The Copier can set the Balance Keeper's value at any percentage from 0% to 50% of the invested funds with the Master. The Balance Keeper suspends copying new orders of the Master and closes all the existing orders if the Copier's equity in per cent of the initial invested funds goes below the set value. The Balance Keeper triggers on the set value but does not protect from instantly incurred losses, so it can save fewer investments, especially during a period of high market volatility.
4.4 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.
4.5. The volume of the copied trade is selected from two options:
4.5.1. 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
4.5.2. 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).
4.5.3. 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.
4.6. The Copiers’ leverage ratio is set at 1:500. The Copiers willing to adjust it need to contact the OctaFX’s Customer Support.
4.7. 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.
4.8. The Copier's order is executed following the Master's order (Buy or Sell) made in his or her account. The signal for opening an order in the Copier's account triggers when the Master places an order, and such Copier's order is executed at the market's price. The same mechanism triggers the order closing. Therefore, the execution prices of these orders may differ. Additionally, the number of the Copiers following this Master can affect the execution time.
5. Limits applied:
5.1. The minimum volume of the copied trade is 0.01 lot, the maximum volume of a copied trade is 100 lots.
5.2. 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.
5.3. 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 OctaFX MT4 accounts.
8. The Master Account should be of OctaFX MT4 type.
9. The Service is entitled to do the following:
9.1. restrict the number of Master Accounts the Masters may create at any time without prior notification at its sole discretion
9.2. unsubscribe the Copier from the Master without prior notification.
9.3. reduce the commission set by the Master Trader and limit its maximum value for all her or his Master Accounts without prior notification or providing any explanation.
9.4. amend these Terms and Conditions at any time without prior notice to the Copier or Master Trader. Such amendments take effect the moment they are published on the Service site in these Terms and Conditions.
9.5. evaluate the Master Trader's trading, mark the Master Trader's account with the ‘High-risk strategy’ warning and exclude such account from the Master Rating filtered by default (will keep it available for the Copiers who change their filter settings accordingly).
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 0% to 50% of the Copier’s gain. Commission charges accumulated within one week are paid out to the Master’s Wallet on Sundays.
11. The commission amount that the Copier pays to the Master is set at the moment when the Copier presses ‘Start Copying’. If the Master changes the commission amount, it does not affect the amount due under this subscription to the Master.
12. Commission amounts for the IB
12.1 If the Master charges the Fixed per One Lot commission and is an IB for the Copier, the aggregate commission (IB commission + Fixed per One Lot commission) should not exceed $15 per trading lot. In this case, the Fixed per One Lot commission shall prevail. For instance, if the Master collects $5 commission per trading lot for IB services and $15 commission per trading lot for Master services, such Master will get $15 per trading lot in total ($15 per lot—the Fixed per One Lot commission, $0—IB commission).
12.2. If the Master charges the Revenue Share commission and is an IB for the Copier, the aggregate commission (IB commission + Revenue Share commission) has no limitation on the amount that can be earned.
13. The commission type is set once upon creation of the Master Account and is not subject to change afterwards.
14. The copy trading Bonus
14.1. The Bonus amounts 50% of the funds invested at the beginning of copying the Master.
14.2. The Bonus can only be applied once for a particular Master within the dates of the promotion.
14.3. The Bonus cannot be applied to the ongoing investments.
14.4. The Bonus cannot be withdrawn or considered as an integral part of the Copier’s investment.
14.5. If the equity of your account becomes less than your bonus amount or equal to it, the bonus will be cancelled.
14.6. The Copier can cancel the Bonus manually in the Copier Area.
14.7. The Bonus is cancelled when the Copier stops copying the Master.
14.8. After cancellation, the Bonus cannot be applied again or reactivated.
14.9. The Service may reject the Copier's bonus application(s) at any time without prior notification or providing reasons for such decision.
14.10. The Service may cancel the Copier's bonus at any time without prior notification.
14.11. If the amount of the Copier's personal funds invested with the Master Trader upon withdrawal/internal transfer becomes less than or equal to the Bonus amount, the Bonus will be cancelled.
14.12. Any situation not described in these rules shall be subject to the Service's decision.
14.13. The Service reserves the right to change, update, or cancel this promotion with notification in the Service news.
15. Free Trial
15.1. The Master Trader can activate and disable the Free Trial at any moment.
15.2. The Free Trial automatically activates when the Copier initiates copying the Master Account if:
15.2.1. the Master Trader has the Free Trial available for this Master Account
15.2.2. the Copier has not previously activated the Free Trial for this Master Account.
15.3. If the Master Trader voids the Free Trial, it continues to work for the Copiers who have already activated it.
15.4. If the Copier stops copying the Master Account while the Free Trial is active, the Copier cannot reactivate the Free Trial for this Master Account.
15.5. After the Free Trial expires, the Copier's subscription becomes subject to the prior conditions, including the commission amount.
16. The Copier’s trading statistics can only be viewed by the Copier.
17. The Master’s trading statistics are available for the public.
18. The Copiers do not have access to the trading terminal. All actions with their subscriptions and trades are made under the Copier Area.
19. 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.
20. Please mind that the Master can make both profitable and losing trades.