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Hi all BK traders I wanted to put together my thoughts on how I am trading my Master day trading account which you are all welcome to follow. I actually follow it myself with my other account so in this article I’ll try to explain both the structure of the master account and the various options for traders who want to have the trades copied directly to their account.
Here is the short version.
1. You need to have an annual membership
1. Who is eligible for Trade Copy Services?
Trade Copy services are available to any BK annual subscriber. You MUST be an annual member. That is the only rule. There are no additional fees that BK charges on top of the annual membership. The BK annual membership for those of you who do not have it, is a very good deal. The annual rate comes to about $100/month versus $175 regular monthly charge which is almost 50% savings.
Here is the discount link for annual membership -- http://trading.bkforex.com/annual/
2. Are there any other fees?
BK does not charge any fees beyond the annual membership but our technology provider 4xsolutions.com charges a monthly fee (between 20-28 depending on your currency). This is a fee that everyone pays including BK itself as 4xsolutions is the one responsible for providing the actual trade copy service.
3. What kind of an account do I need?
All you need is an MT4 account with any broker. The service will work with any broker you choose. We recommend that you trade with FXCM raw spread account since that is what the master is on and you will get the best fidelity in execution that way. If you can’t or won’t use FXCM, IC Market or ThinkForex, Pepperstone or any of raw spread brokers are good alternatives. But we personally do not care who you use as all MT4 accounts will work.
4. Is there someone who can help with account/broker selection?
Yes. Our colleague Justin Hertzberg [email protected] is an expert at selecting the best broker for you. Email him for consultation.
5. How can I get paid on every trade I make?
Justin has relationships with almost all the trustworthy brokers in the world and can arrange so that you can get a rebate on every trade you make. Often than money is directly deposited to your account at the end of the month and can add up to as much as 1% additional return/month. This service is totally free as part of your BK experience with us.
6. How will I sign up for Trade Copier?
Once you become an annual -- please email us and tell us you want to Copy Trade. We will send you a special link to connect to our master account. Justin or the chat at www.4xsolutions.com would be glad to walk you through the process. It takes less than 10 minutes to set up.
7. Can I disconnect/change stops/exit early from all your trades?
Yes. Just like an option the Trade Copier gives you the right but NOT the obligation to follow the trades. You can terminate anytime and you can also set an automatic cut off point at X% loss, so that you account would not take any additional trades if that point was breached. Ask 4xsolutions chat for further direction on that matter.
NOTE that You can ONLY CHOOSE MIRROR MASTER LOTS and then multiply the size amount as you see fit. All those decisions are strictly up to you. PLEASE NOTE THAT WE MAKE TRADE COPIER SERVICE AVAILABLE TO YOU ON AN “AS IS BASIS” AND YOU TAKE FULL RESPONSIBILITY FOR ANY LOSSES INCURRED BY FOLLOWING IT.