Take your trading experience at EightCap to the next level and benefit from the experience of professional traders with an established track record with Myfxbook AutoTrade – an online automated analytical tool for your Forex trading account and a social and copy trading community first of its kind.
The AutoTrade platform enables you to track, compare, analyse, share your trading activities and most importantly, copy the trades of any top successful trading systems you select on Myfxbook directly into your EightCap trading account at any time with ease.
How to get started?
Connecting to the AutoTrade service is very easy. The whole process can be broken down into 3 basic steps:
First thing you need to do is open a unique, live account. Please make sure to let us know in your application that you want the account to be opened specifically for AutoTrade.
Once your real account has been successfully set up, you will need to fund it with at least $1,000 (note this requirement is imposed by Myfxbook).
The next step is to connect your live account to AutoTrade by clicking the link below. You will be forwarded to Myfxbook website where you will be able to complete the process.
Perks & Benefits
With AutoTrade, you don’t have to pay any volume based fees, or install any complex software. It is as easy as connecting your account to Myfxbook and selecting the system you would like to copy.
Each trader listed in the AutoTrade network have been thoroughly screened, reviewed and hand-selected so you find only the best systems to build a successful portfolio.
Only Live Accounts
You will not find one single demo account listed on Myfxbook and only proven live accounts trading with real money and with at least 3 months history will be listed in the selection.
Transparency & Control
Maintain transparency of account and be in full control of your selection of systems to follow – you can also add or remove any system at any time.
All performance reporting and statistics shown are current and constantly updated for each and every individual trader so you can quickly analyse and assess their potential.
Monitor Trading Performance
AutoTrade automatically tracks and uploads your trading history from MT4 and provides detailed analysis on your performance, giving you valuable insight on your trading strategy.
Follow Multiple Traders
You have the ability to choose more than one single trader and develop your own strategy portfolio of different traders and markets to diversify your risk.
Frequently Asked Questions
How do I set up a Myfxbook AutoTrade account?
You will need to first establish an account with EightCap. Once your account is live and funded, then you may connect your account with AutoTrade by following this link.
Is there a minimum required deposit for AutoTrade?
In order to be able to use the AutoTrade service, your account must have a minimum deposit of at least $1,000.
Can I use a demo account?
Unfortunately AutoTrade only accepts real accounts. However, we recommend opening a demo account first to get yourself familiar with the AutoTrade system – you can quickly sign up on Myfxbook website at www.myfxbook.com. Once you’re ready, simply open an EightCap live account and link it to AutoTrade.
Can I connect my existing EightCap account to AutoTrade?
No. You will need to create a unique or brand new account specifically to connect to AutoTrade. If you are existing client of EightCap, simply request an additional account to be created by emailing email@example.com.
How long will it take to approve my account for trading once it is linked to AutoTrade?
Once your account is funded and connected to AutoTrade, it will normally be approved within one business day.
My account is linked to AutoTrade. What's next?
Once your trading account has been linked to AutoTrade, you can start copying other systems. Simply log yourself into your Myfxbook profile, go to the AutoTrade section and click ‘Manage’ to enter the management screen of the account in question then click ‘AutoTrade’ on the system of your choice. Another alternative is when viewing a system which is an AutoTrade system, you will notice the orange ‘AutoTrade’ button at the top – click it to subscribe.
The AutoTrade system is owned and operated by a respected third-party supplier of EightCap, Myfxbook Ltd (“Myfxbook”), and its use is subject to the terms and conditions specified on their website at http://www.myfxbook.com/terms. Users should note that EightCap is not responsible and has no control over the signals generated through the use of the AutoTrade and the resulting trades on EightCap trading accounts. Signals generated by AutoTrade on EightCap accounts do not constitute factual, general or personal advice by EightCap.
The information and analysis provided here has been produced by the signal provider company, Myfxbook. EightCap has reproduced the information without alteration or verification and does not represent that this material is accurate, current or complete, and it should not be relied upon as such. The material is general in nature and has been prepared for information purposes only without regard to any individual’s investment objectives, financial solution, or means. The information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial product or instrument; or to participate in any particular trading strategy. EightCap advises clients to seek independence financial advice before considering investing in these products and services. Furthermore, EightCap reiterates that historical performance or past returns are not an indicator of future performance.
Users should also be mindful that as with all technology applications there are inherent weaknesses and that the operating system is dependent on stable telecommunication networks amongst other things. Trading over the Internet using any social/copy trading application may be disrupted resulting in unanticipated losses that may be in excess of client account balances. EightCap accepts no responsibility for the performance of the application whatsoever.
Risk Warning: Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with EightCap, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing substantially more than your initial investment). A Product Disclosure Statement (PDS) and a Financial Services Guide (FSG) for our products are available to download from our Legal Documentation page. You must assess and consider them carefully before making any decision about using our products or services.
EightCap is a registered business name of EightCap Pty Ltd (ABN 73 139 495 944). We are regulated by the Australian Securities & Investments Commission (ASIC) - our AFSL number is 391441. This AFSL authorises us to provide financial services to people in Australia. The information on this website is of a general nature only and is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. EightCap is not a financial adviser, and does not issue advice, recommendations, or opinion in relation to acquiring, holding or disposing of a margined transaction. We provide general advice only and accordingly you should consider how appropriate the advice (if any) is to your objectives, financial situation and needs before acting on the advice.