Caleb Baker, founder of Trading Solutions for Brokers, answered our editor’s questions in detail about what exactly the social platform COPYDEAL is and why social trading in the future will bring the most profit.
In your opinion, what separates social trading from other investment products that brokers offer?
Let’s start with the fact that in a highly competitive environment, we have to find increasingly progressive technical solutions to satisfy modern-day traders’ high expectations. Let’s do not forget that demand creates supply. Interest in the financial market is growing by the day.
Hundreds of thousands of people eager to increase their capital turn to brokerage firms. The only problem they face is: how can they start trading without any expertise in a way that minimizes losses? Social trading is exactly the assistant that protects every beginner trader from their own mistakes.
COPYDEAL is a kind of social network for investors centered around a shared objective. Great opportunities are emerging for the users. Everyone can manage their own investment portfolios as they see fit. You can send trade requests, open and close orders, and copy successful traders’ portfolios with a single click.
And what’s more, trades can be discussed. You can ask, for example, what prompted a trader to buy or sell a particular stock. And it doesn’t matter which country the trader is in, be it the United Kingdom, Germany, the US, or Singapore. COPYDEAL does not have territorial restrictions. All you need is a computer and internet access.
Do you think that, unlike classical trading, a social trading platform is a less risky way of working with the financial market?
Yes, that’s right. Obviously, you can’t eliminate risks, but you can minimize losses because you are only copying the trades of those whose profits are actually high. Furthermore, you can monitor professional participants’ strategies, learn from them, and ask questions as they arise.
To start working successfully, all you need to do is complete a few simple steps. Sign up as a trader on copydeal.com. Connect an open MT5 trading account to COPYDEAL. Select your role in social trading. Set the asset allocation to diversify your portfolio with less than 5% risk. Subscribe to a successful strategy and earn money easily.
So is social trading for everyone, or are there still limitations like experience, age, or financial situation?
COPYDEAL is available to all without exception. It doesn’t matter who you are or how much money you have; what matters is your desire to make money and develop your skills in financial investments. Beginner traders have a huge choice of signal providers at their disposal. Everything is transparent. You can see their profits, losses, and the number of traders subscribed.
Of course, you need to spend some time selecting a provider, checking his profits and losses. Knowing this, you can easily build your own portfolio. Through many years of experience in various investment companies, I have understood one simple thing: just like family relationships cannot exist without communication, neither can trading exist without the exchange of knowledge and experience between traders.
Tell us about the creation of Trader Solutions Brokers and your partnership with Pascal Moore.
I have known Pascal since our days at Oxford. Following graduation, he spent a lot of time developing software for prime brokers, as did I. We often saw each other at seminars and conferences, where we always talked about how nice it would be to work together. He and I had our own ideas and plans, but what united us was a shared vision of how the ideal service for working with trading instruments should look.
Eventually, we decided to incarnate our many hours of discussion into an ambitious, revolutionary project called COPYDEAL. So at the beginning of 2013, we started Trader Solutions Brokers and began to work on the social trading platform’s launch. We sincerely hope that after the platform is released, millions of traders from all over the world will appreciate our effort.
What would you like to wish your future clients?
I would like to wish all traders this: “Never stop pursuing your dreams!” In turn, our company will do everything we can so that the journey to your dreams is as short and easy as possible.
Good luck and lots of profits to everyone!