In this section, you can find the answers to the most frequently asked questions. We hope that the information below will be useful and save you time.
Who is charged with the commission for trading on CopyFX accounts?
The Company doesn’t charge any additional commission for using CopyFX.
What types of account are available in CopyFX system?
CopyFX Traders and Investors can open the following types of accounts: Fix-Cent, Pro-Cent, Fix-Standard, Pro-Standard, ECN-Pro, ECN-FixSpread, Pro-Affiliate. More detailed information about the accounts types can be found on the corresponding page of CopyFX website and RoboForex website as well.
What information is displayed in the Rating?
"Rating" section displays all information necessary for Investors, which may help them to make a reasonable choice of the Trader to subscribe to.
Rating displays the following statistical data of each Trader:
Profitability: in percent, pips, and USD.
The basic formula how to calculate profitability can be found in "Rating/Profitability" section of our website. Profitability in pips for one transaction is calculated on the basis of profitability in pips for EURUSD transaction of 1 lot, which produces the same profit in USD as the original transaction.
Profit calculation formula:
<Profitability> = <Profit from original transaction in USD> / <Price of 1 pip of EURUSD> (10 USD).
Maximum drawdown of Equity on Trader’s account against this account balance in percent.
-((balance - equity) / balance) * 100%
Period of trading.
Number of days passed since the Trader’s registration in CopyFX (excluding weekends: Saturdays and Sundays).
Trader’s account balance (in currency of his account).
Number of transactions.
The number of the Trader’s open and closed transactions since they registered in CopyFX.
The number of Investors currently subscribed to the Trader and the total balance of their accounts.
Must the types of participants’ accounts match each other?
Thanks to CopyFX cross-copying service, a Trader’s and an Investor’s accounts might be of different types, but the system has several other limitations and restrictions. To check if you can subscribe to a Trader with a particular account type, see the table of subscription conditions on "Cross-copying" page of our website.
What platforms are available for trading in CopyFX system?
Only MetaTrader4 platform is available for trading in CopyFX system.
How is profitability calculated?
The main parameter, which indicates how successful Trader is, is "Profitability". In CopyFX system, "Profitability" is calculated according to the following formula:
P = ( (Equity_end_1 / Equity_begin_1) * (Equity_end_2 / Equity_begin_2) * ... * (Equity_end_N / Equity_begin_N) - 1) * 100%
P – profitability (profit) in %.
Equity_begin_X – equity at the start of X period.
Equity_end_X – equity at the end of X period X.
N – the latest of the periods, taken into account for calculations.
The periods are divided by balance operations. The formula calculates the profitability in % since the moment of account opening or the moment of total loss of funds (when the Equity is less or equal zero). Please note, that withdrawal of all funds from the account (Equity is zero) is not considered as the total loss of funds.
What is the minimum deposit for CopyFX account?
The minimum deposit is determined by the payment system you use.
However, in order to subscribe to the Trader or specify the subscription conditions, you have to have at least 100 USD on your account (or the equivalent in your account currency).
How fast is a transaction copied in CopyFX system?
Investor’s transaction is executed at the same time as Trader’s one.
What types of orders are available for trading on CopyFX accounts?
The types of orders available for trading on CopyFX accounts are the same as the types of orders available for trading on the corresponding accounts outside CopyFX, except for "Close by…" order.
How is CopyFX Rating formed?
All account except the ones listed below are automatically included into CopyFX Rating:
- Accounts with the balance less than 50% of the limits specified by the system required for setting the subscription conditions.
- Accounts with "By Request" subscription mode.
- Accounts, where the basic subscription conditions are not specified.
- Accounts with the daily profitability of —90% or less for 10 consecutive days.
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