Copy Trading Experience – Make money and build passive income? Copy the best and profit

Published by Eugen Grinschuk 22. August 2022 Categorie(s): passive income

Earning money online is a dream for many. Almost everyone wants to earn money on the Internet. There are many possibilities.

For many, trading is not the right thing, because here a lot of knowledge is needed and it is too high a risk. But, earn money with Copy Trading?

Is that possible at all? What risk is behind it? Can you build a passive income with it? Here I will show you my copy trading experiences and describe.

What is Copy Trading?

Before we get into more detail, I would like to explain Copy Trading (also Social Trading) first.

In normal trading, you analyze the chart of a stock, currency, commodity, cryptocurrency, etc. and then decide whether you want to bet on rising prices (opening a long position) or falling prices (short position).

So, it requires a certain level of experience in chart analysis as well as environmental analysis of the company and experience in the industry.

However, with copy trading it is different. Professional traders trade with their own money and allow you to copy their trades.

So if the professional trader opens a trade, you can copy it completely or to a certain extent. If the trader closes his trade with profit, yours will be closed as well.

So you don’t have to do anything with it. Ingenious or?

Here you can make your own copy trading experience and test:

Register now for free and try Naga

Visit our English YouTube Channel for latest ideas.

Join our English Financial Freedom Telegram Channel for the latest news, updates and ideas!

Make money with Copy Trading – But how does it work?

The principle of copy trading is very simple. You look for one or more suitable traders whose trades you want to mirror. Then you choose to what extent you want to copy them.

That is, you can either copy the trade 100%, 60, 50, 25% or even a monetary amount such as 200 euros, 100 euros or 50 euros. 50 Euro is the minimum you have to bet.

This means that when the profit trader makes a trade, it will be copied from him. You don’t have to do it manually.

Here the “investors” can buy commodities, currencies (Forex) as well as stocks or cryptocurrencies. You as a copy trader copy these trades afterwards.

The goal of copy trading is that you use the knowledge and expertise of the trader, of course in your favor. However, both profit from this. You, because you use his knowledge and make profit with it and he, because he gets a copy bonus for it.

Since you probably don’t have the same strategies as these traders, you will usually be able to profit from it. Also, you probably won’t have the same budget. For this reason, you will not be able to copy and buy all trades.

The trading will be done according to your budget and the settings you have made. Most of the time, trading is done in Forex instead of stocks.

It is important that you have a good broker. Below I will recommend those that I have used and use myself.

A demo account is important before you start trading with real money. There you can try out your own strategies as well as the strategies of other “investors” / daytraders.

For this reason it is also called “Social Trading”. Social, because the professionals – but also everyone else – make their strategies and trades available to everyone, so that anyone can copy them.

Even though the risks are minimized, there is still a risk of suffering a loss. However, this is true for almost all investments, whether stocks, cryptocurrencies, ETFs, CFDs, etc.

My Copy Trading Experience

My copy trading experience is very positive. Here it depends on your own expectations. I have determined for myself that if I make 50 euros a day with it, that on 20 days, it is 1000 euros a month, without that I have to do anything for it.

So far, this plan is working out quite well. This way, different amounts of profit can be made per day. There are days on which much and on other days rather less profit is made.

On some days it is almost 150 euros, on others it can be 10 euros pure profit. That is after deducting all fees, etc.

This screenshot shows some results:

Overall, I have been able to more than double my invested capital (3500 Euro) so far (+3600 Euro). This means that on average about 1200 euros profit per month are brought in, which is above my expectations.

In addition, I reinvest this profit so that it can continue to grow. I usually copy the same traders with whom I have had good experiences.

Every now and then I check new traders to spread the risk (diversify). I do not buy stocks through this broker, I use other brokers for that. But if a trader wants to invest in stocks and I copy him, then it’s Ok.

Only Bitcoin and other cryptocurrencies I do not want to buy through this broker, because the leverage here is too low.

Here you can make your own copy trading experience and test:

Register now for free and try Naga

Visit our English YouTube Channel for latest ideas.

Join our English Financial Freedom Telegram Channel for the latest news, updates and ideas!

2 important Copy Trading providers / tools

Probably the two most important providers from my point of view, with which I have gained the most copy trading experience, are:

• NAGA (absolute recommendation) (to Naga)
• eToro (to eToro)

Of course, there are a few more brokers that you can use. However, I have had the best experience with these two brokers. Also, because they offer a free demo account and give you a lot of knowledge to hand.

You can find all this in the academy. So Naga as your broker provides you with lots of things so that you can see or learn new strategies.

Use the demo account with one of these brokers, so that you first get a feel for the traders as well as for the handling of the tools, interface, etc..

If you get along with the demo account as well as the broker, you can stay there and then convert to real money. Also check if the traders at the broker suit you.

You can even trade yourself and buy and trade stocks, forex, cryptocurrencies, etc.

NAGA Experience & Copy Trading

My Naga Social Trading experience is quite positive. NAGA is easy to use, both via desktop and via app. I use both variants, although I use the app on my smartphone more, because many things are faster.

The support is good, but sometimes it takes a little longer. And by a little longer, I mean it can take 15-30 minutes to get your issue resolved.

It only happens for so long because it is in a chat and the support employee may have to check something.

There is also telephone support, but mainly in English. Naga is based in Frankfurt and is registered in Cyprus with CySEC with license ID 204/13. The BaFin registration number is 135203, so it is reputable and safe.

In the event of insolvency, the Deposit Protection Fund would come into play here up to a maximum of 20,000 euros per customer.

At NAGA you can trade numerous CFDs, futures, ETFs, currencies, commodities, stocks as well as Bitcoin and other cryptocurrencies. What I particularly like is the transparency regarding the copy traders.

You can see exactly what trades this person is making, with what budget, profits or losses, etc.

In addition, also the ranges. It can make sense that you do not only have traders who all invest in gold and silver, but each of them is possibly in a different area.

So you have the possibility to spread your investments. And the fees are also manageable.

My NAGA experiences regarding Copy Trading are positive so far. With it I currently make my 1200 Euro profit per month, after deducting all fees.

The minimum amount you have to deposit here is 250 euros, whereby one can then hardly copy other traders sensibly. Therefore, you should rather start with 500 – 1000 euros. A demo account is also available if you want to test it first.

In a demo account, however, no trader can be copied.

The trading software is completely web-based, so you don’t have to install anything. The standard leverage is 1:30.

Professionals can also unlock the leverage 1:200. However, some proofs are necessary. Learning units are available in the academy.

Here you can make your own NAGA experience and test:

Register now for free and try Naga

Visit our English YouTube Channel for latest ideas.

Join our English Financial Freedom Telegram Channel for the latest news, updates and ideas!

eToro Experience & Copy Trading

eToro is based in Israel, but also in other countries and is the oldest CFD broker. For this already exists since 2007 and on it over 4 million customers are active worldwide. Thus, he is not only the oldest, but also one of the largest brokers.

The regulation takes place in Cyprus via CySec under the license 109/10. Thus, it must adhere to the EU directives.

This already ensures that one is considered a reputable broker and can operate. In addition, eToro is also listed with BAFIN under ID 10123590 as a cross-border service provider.

Further licenses are available from the FCA in the UK and ASIC in Australia. In the event of insolvency, the statutory deposit insurance takes effect up to an amount of 20,000 euros per customer.

Due to all these licenses and memberships, this is a reputable broker. The support is good and fast. You can trade CFDs, futures, ETFs, commodities, currencies, stocks as well as bitcoin and other cryptos on eToro.

The software is web-based, so installation is not necessary. By default, the leverage here is set to 1:30, but you can have a higher one activated if you can prove that you have a lot of experience.

An academy for your personal training is also available here. A demo account, so that you can familiarize yourself with the tool, is also available.

In itself, also a good platform, so that you can easily and quickly operate social trading and thus copy the trades. The support is available via mail and chat. There is no telephone support.

My eToro experiences are so far not as deep as my NAGA experiences. eToro compared to NAGA is longer on the market, but I get along with NAGA better.

Nevertheless, I will continue to use eToro as well to spread my risk. I also want to be able to make a stronger comparison of traders and brokers to gain even more experience.

Here you can make your own eToro experience:

Register now for free and copy successful traders!

Visit our English YouTube Channel for latest ideas.

Join our English Financial Freedom Telegram Channel for the latest news, updates and ideas!

Copy Trading Forex

With Copy Trading you can also trade Forex (foreign exchange = currencies). Especially here there are numerous currency pairs that you can trade.

My recommendation is that you look for some professional traders who already have good experience with certain currency pairs. You can then follow them and autocopy them.

The good thing about this strategy is that they have a deeper insight and can therefore better assess the trading corridor.

With this, you can then make money more easily. The leverage for this is 1:30 by default, which is perfectly sufficient for good profits because the risk is also minimized. And especially for beginners it is ideal.

Moreover, you can find most traders for this, buying and selling Forex, commodities, etc., according to my experience so far.

Trading with Crypto and Copy Trading

Whether on NAGA or eToro, trading cryptocurrencies is always risky. And on both platforms, trading with it is only lucrative to a limited extent, as the leverage is set to 1:2 or 1:1 by default here.

You can’t make great profits with this compared to the other options with CFDs, futures, ETFs, stocks, Forex, etc.

I have been looking for good traders who also trade cryptocurrencies successfully for a longer time. However, you can only find them on the platforms to a limited extent, as there are other platforms that are much more attractive for this.

For this reason, I tend to avoid these trades and focus on the ones mentioned above, as this is much more lucrative and promising. (you can learn crypto trading here).

Copy Trading with Bitcoin, Ethereum and Co. I would do on NAGA at least only if you can choose a larger leverage. Also, I would generally prefer to do copy trading only with gold, silver, indices and stocks.

For this, there are some good traders who analyze exactly these values and have them in their portfolio for trading. So far I have had the best experience with them.

eToro or NAGA are both good providers in the field, although I prefer NAGA, as I have gained the most experience here. The comparison of traders on both platforms is equal, which means that there are good traders on both platforms.

Here you can make your own copy trading experience:

Register now for free and try Naga

Visit our English YouTube Channel for latest ideas.

Join our English Financial Freedom Telegram Channel for the latest news, updates and ideas!

Copy Trading and Taxes

Taxes are a very important issue in any form of investment. So also here. First of all, the disclaimer: I am not a tax advisor, so this is not advice, but only my opinion and experience.

The profits that you have achieved in social trading, you must of course pay tax.

Since both providers (NAGA and eToro) have their tax domicile in Cyprus, the taxation at the end of the year must be made by the same.

For this purpose, both platforms provide the necessary information and you have to enter it in your income tax return.

If you want to be active as a professional trader, then you will have to pay tax differently on the commission received from your followers. Namely, as if it were from work from self-employment.

Your tax advisor will know exactly, so no tax advice.

Copy Trading Provider Apps & Tools at a glance

Since I mainly have experience with NAGA and eToro and these are my favorites, I can only introduce and recommend these two.

There are several other providers, but I do not know and therefore can not recommend. Therefore, I also do not list more.

With both, Tradingview is integrated, so that you can perform the chart analysis including the necessary tools. Only so is at all a meaningful, lucrative and successful trading would like.

When I have tested more brokers and providers, I will expand the article with these.

Here you can make your own copy trading experience and test:

Register now for free and try Naga

Visit our English YouTube Channel for latest ideas.

Join our English Financial Freedom Telegram Channel for the latest news, updates and ideas!

Is social trading risky?

Trading in itself is very risky. Especially when you trade Bitcoin, Ethereum and other cryptocurrencies.

But also with gold, silver, indices, commodities and forex, the risks are very high when using leverage.

So you can lose a lot of money very quickly. Through social trading you reduce the risk, because professional traders do the trading for you.

My experience has shown that choosing good traders is very important. A good trader will make good trades and thus also be able to earn some returns.

Nevertheless, there is never a 100% guarantee and odds. For this reason, you should know that social trading also has a correspondingly high risk.

Buying and selling stocks, commodities, forex, forex and indices with a (high) leverage can lead to a total loss.

In order to minimize the risk you have to consider the following:

• Choose a good broker (you can also use a comparison, otherwise NAGA or eToro as provider and broker, I have had good experiences with them)
• Find good traders and check their statistics
• approach carefully
• have enough margin (at least 150%, better even 200%)
• risk management (use only money, whose loss you can cope with)

Investing always involves a certain amount of risk. Social trading and copying other traders is also risky, even if they are mostly professionals and experienced people.

Make money with Copy Trading experience – My conclusion

Let’s come to the conclusion of the article “Making money with Copy Trading & my experience”. As you could see, I am very fond of the topic.

My copy trading experiences are consistently positive and I can only say that it is fun.

Of course, a certain risk management is necessary here, but in every form of investment there is a certain risk.

Nevertheless, I can currently bring in my 1200 euros passively after 3 months. And since I leave the money on it for now and continue to use the higher chapter, I am sure that the profits and profits will be higher and higher over time.

My recommendation is: Use NAGA (I have had the most and best experience with it) and start from 1000 euros. I myself started with 2000 Euro and then increased to 3500 Euro.

I have already more than doubled my investment and that in only 3 months.

If you are still unsure, use the demo account at your broker to test. Also see if you are most comfortable with cryptocurrencies, forex, CFD, ETF, indexes or stocks. And look for suitable traders.

Conclusion: Earning money with Copy Trading is definitely feasible if you pay attention to a few things.

Here you can make your own copy trading experience:

Register now for free and try Naga

Visit our English YouTube Channel for latest ideas.

Join our English Financial Freedom Telegram Channel for the latest news, updates and ideas!

Frequently asked questions (FAQ)

Here you will find the most frequently asked questions related to this topic.

What cost Copy Trading?

As a rule, this type of trading costs nothing at all. That means it is free of charge. However, a fee is due as soon as you have copied a trade and it is closed. Then it does not matter whether it was closed in the plus or in the minus.

Usually, such tips and the work of professional traders cost a lot of money. However, in social trading it is different. The professionals get paid per trade. That is, they are definitely interested in closing their positions in the plus.

Because only then they will get many followers and copiers. However, it does not matter to you. Your positions will be opened and closed automatically.

That you then give a certain share is perfectly fine and fair. The amount of the shares can differ from provider to provider.

What is the minimum amount required to copy trades?

It varies depending on the platform. The platform I use the most is Naga (to Naga). Here the minimum is 50 euros. That means the smallest position must be 50 euros.

But the platforms and providers also differ in the deposit. At Naga it is 250 euros that you have to deposit to be able to trade. With eToro it is 200 euros.

When the position is closed, it should be at least 1.xx euros in the plus, so that you have no costs for it. But also note that if the position stays open longer, so-called SWAP fees will apply.

The larger and longer the position is, the more fees are incurred. These must also be taken into account when closing the position.

Check with your provider beforehand how high the minimum deposit is, unless you choose one of the upper providers.

For whom is Copy Trading suitable?

Anyone who wants to benefit from the experience of professional traders can and should use this. Because, by copying, you will slowly see a pattern. You can try to understand why this position was opened here and closed there.

Especially if you have little experience with trading on the stock market, you should copy positions from professionals. But not only then. Even if you want to invest in other areas, you can copy the trades of others.

Thus, there are various professionals who specialize in one or a few areas and copy the positions of others in other areas.

It is also interesting for those who want to build a passive income.

Here you can make your own copy trading experience:

Register now for free and try Naga

Visit our English YouTube Channel for latest ideas.

Join our English Financial Freedom Telegram Channel for the latest news, updates and ideas!

How can I learn social trading?

By signing up to the aforementioned app and analyzing different traders there and using the ones with the best values.

Also watch the video from above to get a good understanding. Social trading is usually easy itself, especially with this platform.

What are the opportunities and risks of copy trading?

When you trade on the stock market, there is always a certain risk. Because unfortunately there is no 100% strategy, otherwise it would mean you would always win.

Of course, the professionals are very well positioned and analyze the market, whether forex, stocks, crypto, foreign exchange, etc.. But, there is simply no strategy with 100% certainty and success.

However, if you find a good professional and set everything accordingly, then you can increase the probability of more profit and success.

Therefore, you should be aware that in the worst case scenario, you will lose your money.

Advantages and disadvantages of social trading

The advantages should be obvious. You can benefit from the knowledge of professionals. Because, these trade with their own money. So you can earn money on the stock market.

You increase your chances of profit significantly, because you put the trading in the hands of experienced professionals. In addition, trading is automated. This means that you have to do little or nothing.

Thus, you save the time for the complex analysis and research. Because the professional takes care of that for you. You also don’t have to know your way around every market.

Even better: You can divide your money among different people, so that trades are opened in different markets.

So you are more broadly positioned and can profit enormously.

Disadvantages include that there is still a certain risk that you can lose your money. Especially if you do not set the platform and especially the copy trades properly.

This is why the basic configuration is so important in the beginning. Additionally, your success or failure is completely decided by the professional trader you copy. For this reason, you need to find good people to copy.

Here you can make your own copy trading experience and test:

Register now for free and try Naga

Visit our English YouTube Channel for latest ideas.

Join our English Financial Freedom Telegram Channel for the latest news, updates and ideas!

What is Mirror Trading?

In mirror trading, you also copy the positions of a trader. However, here you do not follow a specific person, but you mirror his strategy.

There are countless strategies that you can follow. This can also be a possible strategy. However, it then has nothing to do with copy trading.

The advantage of mirror trading is that you are not dependent on one person, but you are guided by statistics to increase the probability of winning as much as possible.

You can read about the different strategies beforehand so that you understand which strategy you should and want to copy best.

How to start with Copy Trading?

If you want to get started, you will first need a platform. Here I recommend NAGA, because I am on it myself and use it the most.

Now you have registered on the platform. After that you should look around first. If possible, use a demo account first.

To trade with real money you have to make the minimum deposit. Now it is about finding professional traders whose trades you can take over. There are different ways and means how you can find them.

Pay attention to their last trades, amount and success. If you have found appropriate people, it is now a matter of setting the right weighting. You should never start with 100%.

Possibly you should even work only with fixed amounts per trade. Because, there are traders who open very high positions and that can be too much for you.

Decide whether you want to focus on specific markets such as Bitcoin and Co. or want to be more broadly positioned and trade various CFDs, Forex, derivatives, etc.

The advantage of Bitcoin and other cryptocurrencies is that you can trade them all the time. However, the disadvantage is that the leverage is simply too low.

For this reason, you should take precautions here so that it can’t happen to you. And always pay attention to the margin. This should be at least 150%, so that you do not get any problems.

Does Copy Trading Make Sense?

Copy trading is useful for you if you have no idea about trading or do not want to trade yourself. Because by copying you can have the money invested for you.

Professional traders buy cryptocurrencies such as Bitcoin, Ethereum, etc. or Forex, foreign exchange, commodities, stocks and more.

This can minimize the risk because the traders trade with their own money and buy the futures, etc.

I have had very good experiences with this.

Here you can make your own copy trading experience

Register now for free and try Naga

Visit our English YouTube Channel for latest ideas.

Join our English Financial Freedom Telegram Channel for the latest news, updates and ideas!

Is Copy Trading legal?

Yes, it is perfectly legal. Because what you are doing is nothing more than copying the trades of professional traders. You choose someone who offers copying and you clearly agree to copy their trades.

And you do it to the extent that you define it. It can be on the basis of a certain amount or a certain percentage.

Is NAGA reputable?

I have personally had a very good experience with Naga. They inform me when my margin is too low, the support is quite good, although only in English.

So I can only report that my Naga experience is positive. Serious too, as they have numerous registrations to be able to offer such money transactions at all. Otherwise, you would not be allowed to invest money and would not be able to buy bitcoins, forex, forex, futures, etc.

Therefore, I consider Naga to be reputable and I am very satisfied.

What other providers are there?

Besides Naga, there are also eToro, wikifolio and other platforms. In comparison, I chose Naga and I am only on this platform. Before that, I was still active on another platform. There I was also able to buy bitcoins, etc. and invest.

However, I did not like the handling as much as it is the case with Naga. Here you have to do a test and comparison yourself, which you like better, also from the design and the handling.

I have made the comparison of the two brokers for you and made my experiences, so that I finally decided mainly for NAGA.

NAGA has many traders on the platform. The more traders there are, the better it is.

Much risk with Copy Trading?

Of course, trading is relatively risky. Especially if you are a new trader and you are not familiar with trading and investing and buying commodities, forex, etc. including leverage.

If you use social trading, you can minimize the risk because you copy professional traders. Each of these traders has their ways of doing things.

So one can invest in stocks, the other in commodities or even only gold and silver, cryptocurrencies, or only bitcoin, etc.

The fact is that you can profit from it as an investor and a copier.

With that, you can profit from the traders at Naga, which acts as a broker, whether crypto like bitcoin, CFD, stocks, forex, etc. But sure, you can also lose money.

My copy trading experience so far has been very positive and I have learned a lot from the traders and experts.

Here you can make your own copy trading experience and test:

Register now for free and try Naga

Visit our English YouTube Channel for latest ideas.

Join our English Financial Freedom Telegram Channel for the latest news, updates and ideas!