Dupli Trade Review: Best Copy Trading Platform or Scam?
Dupli Trade is currently one of the best copy trading platforms I can recommend to Campforex.com community of readers and investors. We all know that successful Forex and commodity trading is a game that takes years to master.
Unless you can find and copy successful Forex traders through an established platform like DupliTrade, chances are that your efforts to venture into the markets with little to no knowledge will always result in your account getting burned beyond what you can fathom.
I don’t mean to scare you. But at the same time, I don’t like sugar-coating things especially when it comes to trading.
I always tell my students to abide by this principle in their trading careers because it helps them to be very well prepared and focused on what they are doing.
So, what is Dupli Trade and why am I recommending this copy trading service to you? That’s what I’m getting into.
Dupli Trade Review: what is it all about?
DupliTrade is where traders with little to no experience can find successful Forex traders to copy trading strategies from.
DupliTrade states it on their motto that automated trading has been made simple. How simple can it get?
Well, it should be a walk in the park affair because you’re basically getting access to a selection of strategy providers (excelling traders) together with their full and transparent trading history.
That way, you can make a decision, having gauged their performance overtime and even deduced that the Forex trader in question is consistent and reliable.
You can also create your own robust trading portfolio (of course after selecting strategies from a provider), customize your exposure and fully automate the process so that trades can be copied into your account in real time and without your intervention.
Each one of the strategy providers represent a different trading style and methodology.
DupliTrade also gives you semi-automated trading feature where you can pick the best Forex trader to copy and only open trades when certain conditions have been met — according to the signals which they are giving you.
DupliTrade Review: popular strategy providers
When you visit the homepage, you will see that it features prominent strategy providers dubbed Legacy, Titan, Cryptoz and Spider.
Apart from their names, you will also see the number of weeks that they’ve spent on this platform trading. You can also choose successful Forex traders based on the number of followers which they have. All this is available in their profiles.
I suppose that these are the highest paid traders on the platform. DupliTrade is offering their strategy providers what is known as performance-based payment model, meaning that the more these strategy providers are winning, the more commissions they are banking.
There profiles are readily accessible too. If you want to know which trading strategies these folks are using, just sign up and go over their respective profiles.
This data is transparent and very accurate. If a trader doesn’t use Martingale system of trading for instance, they will state it on their profile.
Generally, most successful Forex traders on this copy trading platform are using trend-based strategies alongside other methods.
You do not need to learn their strategies anyway. What you need to do is to go over their statistics to see how they have been performing. Once you’re confident that their concept works, you can follow them.
You have the option to either go semi-automatic or trade on full automation — meaning that trading strategies will be executed into your account on auto-pilot.
Dupli Trade Reviews: what others are saying about this copy trading service
Is it the best copy trading platform right now? I can say with absolute certainty that DupliTrade is one of the best.
What is the feedback like?
Feedback is generally good. I tested this service 3 months ago just to experience what my results would be under Legacy and Cryptoz strategy providers.
I was using a demo account with one of their recommended Forex brokers.
Please note that I was doing this for the sake of readers of this blog. Personally, I am an active Forex and Cryptocurrency trader. 60% of my income is from trading Forex and stocks.
If you want to learn about my broker, just go through this article.
Basically, what am saying here is that I don’t recommend services that I haven’t scrutinized carefully.
My trading results under the two strategy providers were excellent. Under Cryptoz, my demo account clocked 20% monthly returns. Under Legacy, I managed slightly over 15% on a monthly basis.
You might think that these returns mean nothing. But consider the fact that I was demo trading with $10,000 virtual money. If you do the math, you will see that 20% monthly return is equivalent to $2000.
Isn’t that a tidy amount to make in any given month? Of course it is.
How to get started with Dupli Trade
Go to the official website and sign up. You should pick any of their recommended Forex brokers, then choose your preferred strategy provider.
If you are interested in making use of their copy trading service, make sure that you can fund your account with at least $2,000.
Why exactly is the minimum deposit this high?
Because you cannot under-fund your account and expect to make a living off your trading on the first day.
In fact, under-funding a Forex account is the number one reason why Forex traders get too greedy because they want to multiply a small account quickly so they can gain more profits in short duration. If you are this type of trader, you will ultimately fail.
Fortunately, those who want to make use of a serious copy trading service (I repeat, a serious copy trading service, not a casino) should use DupliTrade as long as they can raise the minimum deposit.
If you like the results after few days of having signals copied into your account, just come here and drop your comments.
Conclusion of this DupliTrade Review
I just wanted to sum up my experience with this copy trading platform. So far, I haven’t been disappointed. I’d rate it 5 star if given the chance.
Please drop your comments below if you have used this copy trading service before and are happy with their service. Or you can contact me here if you have any questions.