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The world of forex is huge, and very exciting, but can also be quite intimidating for those first venturing in for the first time. This is where the autotrade opportunity is really helpful.
There are a few services on the web that offer this service, some better than others. I will highlight two here for you to investigate.
1. Zulutrade - the future of Forex trading!
This service is a community based autotrading service. There are hundreds of people trading forex through Zulutrade, and you can easily login with a free account and see how others are trading. When you have found a trader whose results are appealing to you, you can set up a connection where the signals given by your chosen trader are applied to your account. The trader does not know who is using his signals, so you are protected. The trades and the service are all for free.
This really is the future of forex trading, offering a commmunity based approach with plenty of freedom of choice and lots of protection!
Zulutrade works primarily with five different brokers, offering you even more choice. These brokers are so competing for business through Zulutrade that if any glitch shows up, they fix it quick! Their client interaction is improving all the time, and the one that I signed up for could not have made the process easier, nor more secure. They even offer a variety of ways of making deposits and withdrawals, which include credit card processing.
Zulutrade offers a full trading service, for amounts more than $10,000, but also offer a mini account which you can start off with $1,000. Normally you would allocate a minimum of $1,000 to be traded by a given signal provider, and as your portfolio grows, you could add providers to balance your investment and prevent major drawdowns by a single provider who has a bad run.
The signal providers that currently seem to be giving the best performance are as follows (don't just take my word - search the performance charts for yourself!):
FxMarkets
4xWorld
4xMoney
ProfitPips
$tipper
I have both paper traded and fully autotraded on this system, and all I can say is that this community based approach represents a major step into the future for forex traders. You have a LOT of control over how your investing goes, and you have HUGE opportunities for choice.
You can sign up for this service here.
2. Forex Automoney
This service provides autotrading with three services - intraday, daily and weekly trades. With their own proprietary system, the generate signals for these three systems. You can either fully automate their system, or you can elect to choose which signals to apply to your portfolio. They have no minimum requirement for startup, and provide lots of training and expertise for traders to follow. This is a good way for a new forex trader to start with training wheels! Why not take this round the block, kick the wheels and try out the seats! I have had a good look at their performance record, and I think that they are on to a good thing. The best is that they offer you a three day trial for $4.97, during which you can give them a really good examination for yourself.
Go here to sign up.
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