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The InstaCopy system is a service that allows Followers to copy orders of the most successful Trade traders in real time mode. Moreover, Traders can also make additional money, receiving commission for sharing their trading activity. Below there are answers to the most common questions about how to use the service and what other features it provides.
What is the InstaCopy system?
The InstaCopy system provides for copying deals of a trader in a real time mode and opening them automatically on the account of a follower. InstaCopy followers can adjust the number of trades, set the preferred ratio of lots and trading instruments to copy deals on from a certain InstaCopy trader.
Can I, as a InstaCopy follower, choose instruments and the ratio of lots for trades to copy to my account?
Yes, you can. You can copy all the trades or just trades on the instruments you chose.
When will a InstaCopy trader receive a commission for copying?
The commission is paid to a InstaCopy Trader in the following cases:
- When a subscription is cancelled by a InstaCopy Trader or InstaCopy Follower;
- When the rollover function is activated (meanwhile copying trades will continue on the account of a InstaCopy Follower without subscription cancelation);
- If InstaCopy Traders choose a daily commission, they will receive it every day at 11:30 p.m. (GMT+2).
Can I, being a InstaCopy follower, cancel a trade copied if I consider it potentially unprofitable?
You can close it in MetaTrader, but it is impossible to cancel it.
Is an application for subscription approved automatically or personally by a InstaCopy trader?
It is a InstaCopy trader who decides whether to approve applications for copying his trades automatically or manually. If the application is not approved within 72 hours, it is cancelled automatically.
How fast are trades copied within the InstaCopy system?
There might be a delay up to 2 minutes, but the instrument, ratio, price and volume are always copied.
Why is the list of currency pairs to choose from so short?
The list contains the most popular trading instruments only. If you select the All InstaTrade Trading Instruments option, trades on all the instruments employed by a trader will be copied, including futures, stocks, indices, metals, commodities and cryptocurrency.
A InstaCopy trader changed the commission after I had subscribed to his deals. Shall I pay the initially set commission or the new one?
You will pay the commission you initially agreed to pay until the end of your subscription period. However, new followers of this InstaCopy trader will pay the newly set commission.
Will the order settings of a follower be changed if a trader modifies the order copied?
Yes, the order settings of a InstaCopy follower will be changed as well.
If a InstaCopy follower lacks money to pay the commission to a InstaCopy trader, does it mean that a trader will not get it at all?
In case when the balance on the InstaCopy Follower`s account is not sufficient to pay out the commission owed to the Trader after the closure of a trade, the remaining balance will be debited from follower`s account to pay out the commission owed. The remaining pending liability will be covered from the next InstaCopy follower`s next credit to the account, no later than 72 hours after the subscription expires.
Can I unsubscribe from the deals of a InstaCopy trader?
Yes, you can, provided you closed all his deals copied and currently open on your account.
Can a InstaCopy trader unsubscribe a InstaCopy follower from his deals?
Yes, a InstaCopy trader can unsubscribe a InstaCopy follower from his deals provided all the deals copied to the follower’s account are closed, and the commission paid by the follower is more than 0.
How a pending order is copied to a InstaCopy follower account?
The pending order is copied to the InstaCopy follower account when it is executed on the InstaCopy trader account.
Are there any requirements regarding the minimum balance the follower is supposed to have on his account before copying trades?
Yes, the follower is to have at least $10 (excluding bonus funds) on his account before he can start copying.
