AutoCopy Help

What is AutoCopy?

To link your trading account to FX Junction, visit Settings -> Account Link and click Add Account.

AutoCopy is a system that allows you to automatically copy trades from a chosen group of traders. To use AutoCopy, find the account of the trader that you wish to copy and click "Add to AutoCopy", or use the Traders page to filter traders by a certain criteria.

As a Copy Trader, the AutoCopy system allows to build your experience by following experienced traders with an established track record. We recommend you try with a demo account first to get used to social trading before switching to a live account.

As a Signal Provider, the AutoCopy allows you to earn income from your copy traders and build your reputation.

How does it work? – Copy Trader

As a Copy Trader, you can add Traders' accounts to your AutoCopy portfolio from either from the Traders page or from your Profile - AutoCopying section.

When adding an account to AutoCopy, you need to select several parameters such as lot size, maximum open lots and maximum open trades. Just as importantly, you need to select which fee model from those offered by the Signal Provider on the given account you want to follow. The possible models are:

  • Commission Per trade (roundturn) - A fixed amount charged on an AutoCopied trade applied upfront on the opening of the trade.
  • Commission Per lot (roundturn) - A fixed amount charged based on each lot you AutoCopy applied upfront on the opening of the trade. Formula:  Commission amount x Number of lots
  • Monthly Subscription - this is a monthly subscription to AutoCopy all trades during a month without incurring any additional costs. Subscription fees are charged at the beginning of your subscription period. You can cancel the subscription any time and a pro-rata amount will be returned to your Credits; however cancellations are subject to a penalty equivalent to 3 days of the subscription fee
  • Free Trial to new copiers – The amount of days available with no fee of the signal providers trade signals. It will be automatically applied to your new AutoCopied accounts.

In case a Signal Provider changes his supported fee models or increases his fee structure, you will be alerted by email with a link that you will need to confirm. If you do not confirm, the AutoCopying will be canceled 3 days later. For subscriptions, the new model will be applied when the current subscription period expires.

AutoCopying traders comprise risks. It is your responsibility to perform due diligence on the traders you wish to AutoCopy as well follow necessary Risk management techniques. It is recommended you try with a demo account before deciding to go with a live account.

How does it work? – Signal Provider

As a Signal Provider, you have a choice of 4 fee models which you can offer on your account (each of your accounts can support different model(s)):

  • Commission Per trade (roundturn) – A fixed amount charged on an AutoCopied trade applied upfront on the opening of the trade.
  • Commission Per lot (roundturn) – A fixed amount charged based on each lot AutoCopied applied upront on the opening of the trade. Formula:  Commission amount x Number of lots
  • Monthly Subscription – A fixed amount to be applied each month the copy trader subscribes. It allows the copy trader unlimited copy trades for a fixed monthly fee. Subscriptions run for a month from the date of the setup and are credited to your account at the end of the subscription period. Should a copier cancel his subscription, a pro-rata amount will be credited to your account immediately. 
  • Free Trial to New Copiers – Input the number of days you to allow a copy trader to copy your signals for free. After this period, your selected fees will automatically apply. 

These options above and others can be setup for each linked account that you add in your Account Link section under Settings.

FX Junction applies a 50% service fee from the Signal Provider fee. For example, if the signal provider charges 50 USD per month to the copy trader, the signal provider will earn 25 USD per month.

Note: only Live accounts holders are allowed to set the fee models and charge fees for the AutoCopy.

How much does it cost?

FX Junction is free to use, but if you want to AutoCopy traders there is a fee involved. You can see each trader’s fee model under their trading profile. If you see multiple fee models, you have the option to select which fee model you prefer.

What are orphan trades?

Orphan trades are trades that can no longer be tracked by a source account (account that triggered your trade). This can happen for various reasons:

Your account was offline when the person whose trades you were copying closed the trade

Your broker rejected the request or failed to process it

The account of the person you were copying was offline when the trade was closed

Orphan trades are indicated by a special icon in your Trading Activity section. If "Auto-Close Orphan Trades" is enabled, these trades will be automatically closed when detected. If this function is disabled or if you remove a trader from your portfolio, you are responsible for manually closing these trades at your discretion.

To prevent occurrences of orphan trades, we highly recommend people whose trades are copied and copiers to use a VPS service or a dedicated PC with a fast, constant and reliable internet connection.

Can I trade other systems (robots or EAs) along with AutoCopy?

Yes, AutoCopy manages trades that are placed through this system only. Any other trades, manual or automatic are not touched by the AutoCopy system. It is your responsibility to determine whether your robots get along with other systems.

As an added bonus, you can track the performance of your robots by assigning a unique magic number (usually available in EA inputs). The results of trades placed by your EA are shown as "Other (EA)" in the performance report.

What if the leader places a trade for a symbol that is not supported by my broker?

The system will attempt to send an order for every trade that is initiated by the leader. If for some reason your broker rejects the trade, the failure will be logged in the transactions log.

AutoCopy Troubleshooting

Often times issues related to AutoCopy can be resolved by looking at the transactions log. There you will find a log of all attempts by the AutoCopy to copy a trade into your linked account along with the status and relevant description of the transaction.

Some of the common errors are:

  • Bridge EA was unreachable - please make sure that your bridge is up and running in your terminal. Trades cannot be copied unless your terminal is on with the Bridge connected.
  • Failed to place trade. Trading not allowed! Check platform settings - you need to allow automated trading in your terminal, by going to Tools -> Options -> Expert Advisors and making sure the Allow Automated Trading and Allow DLL Imports checkboxes are ticked
  • Failed to place trade. off quotes - this is a one-size-fits-all error message returned by the broker that can mean a variety of things. Please check with your broker.
  • Ticket: [number] failed to close. common error or no error or unknown erorr- another one-size-fits-all error message returned by the broker. Please check with your broker.
  • Ticket: [number] failed to close. invalid ticket - the AutoCopy system was not able to close this ticked because it was most likely closed before (either manually or by the close-orphans function). Please verify that this ticket is not open on your account and if needed, close it manually.
  • Not enough credits to AutoCopy trade - please add more Credits to your account to be able to continue AutoCopying your chosen Signal Providers
  • Failed to place trade. hedging is prohibited - your broker does not allow placing a trade in a symbol where there is already an open trade in another direction (hedging).
  • Failed to place trade. unknown symbol - your broker doesn't support trades in this symbol (currency pair etc).
  • Trade copy failed due to timeout of over 60 seconds. - the Signal Provider's trade failed to replicate on your account within 60 seconds and therefore the AutoCopy system refused it (the trade would have happened under significantly different market conditions than on the Signal Provider's account, due to the time lag).
  • Failed to place trade. market is closed - attempted to place a trade during the market's off hours.