Get up to 25% off trading fees: sign up with code Bestrader. Join Fomo here (opens in a new window). Fomo's standard trading fee is about 0.5% per trade, so the discount adds up fast when you trade often.
Copy trading is one of Fomo's headline features. Instead of finding every trade yourself, you can mirror traders you rate and ride their moves. Done well, it is a way to learn and to participate without staring at charts all day. Done carelessly, it is a fast way to copy someone straight into a loss. Here is how to do it the smart way.
How copy trading works on Fomo
Fomo's social layer gives you a leaderboard, live trade feeds, and the ability to follow and copy traders. Copy trading links your trades to a chosen trader so their moves are reflected in your account, according to the settings you choose.
The appeal is obvious: you benefit from someone else's research and timing. The catch is equally important: you also inherit their risk appetite, their bad trades, and their drawdowns. Copying is not a guarantee, it is leverage on someone else's decisions.
Choose who to copy carefully
A big number on a leaderboard is not enough. Before copying anyone, look past the headline return:
- Consistency over a hero trade. One lucky 100x can carry a leaderboard rank. Look for a track record, not a single spike.
- Drawdown. How much did they lose at their worst? A trader who makes 300% but routinely draws down 80% may not match your stomach.
- Style and size. A trader taking huge, high-leverage swings is a very different ride than a measured one.
- Recent vs all-time. Markets change. Someone hot last cycle may be cold now.
Size copied trades to YOUR account
This is where most copy traders go wrong. Copying a trader who risks 20% of their account per trade means you are risking 20% of yours, unless you set your sizing deliberately.
Decide your own risk per copied position first, then configure copy settings to match, rather than mirroring their raw size. Our position size calculator helps you translate a risk limit into a sensible amount. The goal is that even a copied trader's worst run cannot wreck your account.
Manage the risk while copying
- Diversify. Copying one trader concentrates your fate on their decisions. Spreading across a few reduces single-trader blowups.
- Set your own limits. Know in advance how much of your account you will allocate to copying, and stick to it.
- Review regularly. A trader's edge can fade. Re-check performance and cut copies that stop making sense.
- Understand the fees. You still pay trading fees on copied trades. That is why the code Bestrader discount matters, since copy trading can mean a lot of trades. Check the real cost with the fee calculator.
Copy trading is not passive income
It is tempting to treat copy trading as set-and-forget income. It is not. You are still exposed to the full risk of crypto and meme coins, and a trader you copy can lose money fast. Treat it as an active strategy that needs monitoring, not a savings account.
New to the social side? Start with how to follow traders on Fomo, and ground yourself with what is Fomo.
Bottom line
Copy trading on Fomo lets you mirror traders you rate, but you inherit their risk as well as their upside. Pick for consistency and drawdown, size every copied trade to your own account, diversify, and monitor. Sign up with code Bestrader through our Fomo link for up to 25% off fees, and only risk what you can afford to lose. Nothing here is financial advice.