FAQ

1. Virtual Currency Account
2. Social Forums for Community Engagement
3. Copy Trading 

FollowTrade welcomes all traders regardless of trading experience. Our Algorithmic Trading Bot helps you start your journey confidently.

As a new trader, you can learn about trading through our community sharing and virtual currency features. As an existing trader, you can increase your profits by copying the trades of Star Traders, or earn incentives by becoming a Star Trader yourself.

Our MAS licensed eBroker partners will handle your trade order execution, order fulfilment and KYC regulatory compliance.

The risk score shows the risk appetite of the investor is taking, and is calculated using our own proprietary technology.

The risk score is calculated for each user from 1 to 5, where 1 is the lowest possible risk, and 5 is the highest possible risk.

Social Trading and Copy Trading both belong to a concept of Mirror Trading. Copy Trading players are largely focused on foreign exchange and Contract-for-Difference (CFD) products to generate ALPHA to attract followers by providing high computing power, technical tools and charts to make better traders. Social Trading players such as eToro and FollowTrade, are largely focused on diverse investment products to generate TRUST among the interactive and engaging community.

Yes, social trading works if the trader is discerning in whose trades they follow. FollowTrade simplifies this process by being transparent with the risk scores and the verified trading records of our Star Traders, giving you the information to determine which family member and/or friend best suits your investment style. It is a fun way for new traders to begin their trading journey and to make good friends along the way.

FollowTrade provides you with an optional pre-set risk collar which allows you to automatically close your positions after a 10%-20% decline. This risk collar allows you ease of mind while trading by limiting your maximum loss position to 10%-20%. The risk collar is strongly encouraged for less experienced traders.

Star Traders are traders with unique investment strategies who are incentivized to share their trades on our platform. You can apply to become a Star Trader and get rewarded when people copy your trades.

To begin on the Silver tier, you must spend at least 2 months on the platform and have a minimum equity of S$1,000 invested. Prospective star traders will then undergo FollowTrade’s due diligence process. Once approved, the star trader’s profile, trading strategy, portfolio, and verified track record will be transparent to all.

To progress to higher tiers, Star Traders would have to meet the following requirements:

FollowTrade encourages socially responsible investing. FollowTrade verifies the past trading performance, trading strategy and risk score of our Star Traders.

FollowTrade also employs a tiered ranking system that Star Traders have to go through progressively. The higher the tier, the higher the minimum equity invested and number of copiers. For higher tiers, acceptable investment certification or equivalent are also required.

FollowTrade allows trader the choice to pre-set a risk collar to limit investment losses.

FollowTrade academy also conducts regular training workshops to educate potential star traders on how to improve their investment trading strategy and on how to manage risks.

FollowTrade is a social trading platform with a community of users. These users are largely groups of families and friends, so there is inherent TRUST built by these groups which is imported onto our platform. Many Traders have found their home here, leveraging on community insights, and using social trading to make better trades and to grow their knowledge together. We seek to create a social trading environment that is safe, transparent and enjoyable for all our users.

Here are our key goals:

• To be a safe place to learn – where newcomers are welcomed, gambling-like behavior is disavowed and your funds are secured
• To be a transparent platform – where you can have transparency, verified trade performance and risk levels of those you copy from
• To be an enjoyable community – where you get to enjoy the process of social trading through an easy to use interface with a honest and supportive social community

As a Client of FollowTrade, FollowTrade will need the Client to provide information about the Client and / or relating to any of the Client’s account(s). The Client’s information may also be collected or compiled in the ordinary course of the relationship between FollowTrade and the Client. Such information if it relates to an individual may be considered to be “personal data” protected under the Personal Data Protection Act 2012 (the “PDPA”). The Client acknowledges and consents to FollowTrade collection of the Client’s personal data. The Client is entitled to withdraw the consent for the collection, use, disclosure and processing of any personal data at any point in time by notifying FollowTrade, and accept and acknowledge that in doing so, it may not be reasonably possible for FollowTrade to continue to provide its services to the Client.

The Client hereby consents and authorises the collection, use, disclosure and / or processing of the Client’s personal data for any of the following purposes:
(a) account opening, and operations relating to the Client’s account including closing the Client’s account;
(b) providing services and facilities to the Client from time to time;
(c) administration and / or managing the relationship between FollowTrade and the Client and / or the Client account;
(d) conducting identity and / or credit checks;
(e) developing new services and / or products;
(f) providing the Client with marketing, advertising and promotional information, materials and/or documents relating to banking, investment, credit and/or financial products and/or services that FollowTrade may be selling, marketing, offering or promoting, whether such products or services exist now or are created in the future;
(g) complying with any Applicable Laws or such requirement or request of any regulatory authority, including an Exchange or Clearing House or their related corporations, services providers and agents;
(h) updating the Client on FollowTrade’s products and services from time to time;
(i) processing any requests for new services and / or products made by the Client;
(j) enforcing FollowTrade’s legal and / or contractual rights against the Client.

By using this platform, all users will have to comply with FollowTrade’s Community Guidelines and comply with applicable Singapore Government laws. You are not allowed to engage in the following:

1. Trolling
2. Disinformation
3. Impersonation – Deep fakes,
4. Solicitation
5. Spamming
6. Foul Language
7. Market Manipulation
8. Doxxing and Bullying – We also encourage all users to be careful in not releasing confidential information about themselves.
9. Illegal activity – using the platform to spread child pornography etc.
   Fraudulent and dishonest activities

What happens if you violate these rules?

• First offense: Public Warning
• Second offense: Temporary Ban (1 Month)
• Third offense: Permanent ban

If you notice a Star Trader engaging in wrongful or inappropriate behavior, do write in to us with the details at enquiry@follow-trade.com

Yes! You can follow us on these platforms for regular updates:

Facebook

Instagram

LinkedIn

YouTube

Discord

You can also sign up for our newsletter.

Do you have a question about your account or the platform?

Have you encountered an unexplained error?

Or maybe you have a suggestion for a new feature?

Our Customer Service department is here to assist. You can contact us by opening a support ticket.

Due to its nascent history, there are various inaccurate myths on cryptocurrencies. FollowTrade encourages Star Traders to use our social community function to dispel inaccurate myths of crypto trading, and to only provide a balanced, evidenced-based approach towards crypto trading.

Crypto currency trading is a risky strategy and may not be suitable for you if you have a low risk appetite. FollowTrade is a marketplace for risk taking which may result in losses.