Frequently Asked Questions
Frequently Asked Questions
Do you have Questions?
Any questions? We are here to help you with copy trading.
1. What is MOYO?
MOYO bridged the gap between valuable information in money markets and trade execution, by converting the advice of professional and talented traders globally to an executed trade rapidly and automatically in your account (from supported brokers). There was a time when trading was a headache. Not anymore! You don't have to study or monitor the market, because hundreds of Traders from all over the world are doing it for you. All you have to do is pick the Traders you like, and MOYO will quickly convert their advice into live trades in your trading account directly with the broker. MOYO offers Forex, CFD and Cryptocurrency trading.
2. How do I get started?
All you have to do is provide MOYO with the name and account number of the brokerage firm you're trading with. To bridge the experts' advice with your broker account, you will need to provide consent to your Broker (normally by agreeing or signing an agreement or Letter of Direction). If it is the first time that you will trade online or you never had an on-line trading account with one of the brokers we support, then the first step is to open a new account.
3. I already have an account with one of the dealing brokers you support. What is the next step?
When your broker notifies you that the change has been made, you will receive an email from us that you are ready to start using MOYO. This process will take a maximum of 2 days.
4. To link your existing broker account with our revolutionary trading platform?
Please fill the signup form. We will then automatically send you your login details to begin autotrading with our platform. Accounts are usually activated within 3-5 days.
5. How long does it take to open a new account with my existing broker?
It only takes 1 day. Most brokers – if you already had an account with them, do not require duplicate proof of records, and will provide you with a new account number. Don’t forget to tell them that your Referring Broker is MOYO.
6. I don’t have a trading account with the brokers you support. Is that a problem?
No. You can open a new account already set up with MOYO.
7. Can I open my account in different base currency than USD?
Yes. You can choose between USD, JPY, EUR, GBP and AUD.
8. What is a lot?
A standard lot is a buy or sell size. If you buy 1 lot of EUR/USD, trading at 100:1 leverage then you buy 100,000 EUR/USD. But since you’re trading with 100:1, the leveraged value is 1,000 EUR/USD or 1 standard lot. If you trade a mini lot, then you buy 10,000 EUR/USD and the leveraged value is 100 EUR/USD or 1 mini lot. In this case, 0.0001 * 100,000 = 10 and then, 10 / 1.13798 = 8.78750. The pip value in this case is: €8.79.
9. Can I trade manually? Or will it conflict with the automatic trades?
Please fill the signup form. We will then automatically send you your Yes. Manual trades will not affect automatic trades.
10. What are your trading hours?
Trading hours vary by product. For Forex, trading opens on Sundays st 9:00 pm and closes on Fridays around 9:00 pm UTC times.
11. Who are these Traders? How did you pick them?
We do not pick them. Any individual can become a MOYO Trader. It is not possible on MOYO to misrepresent the performance of the signals generated. If MOYO shows a profit or loss, it is accurate, because details are confirmed by the dealing broker’s statements. For each pip stated in the performance section, there is a trade registered in the broker’s back-office.
12. How are Traders ranked?
Forex Traders appear in the Performance Table ranked according to the MOYO algorithm, based on their performance results.
13. How do I control the number of lots and the number of positions a Trader opens on my account?
When logged into your account at MOYO, go to your account settings page. From there select the ‘max open lots’ drop down menu’, this allows you to set the number of total lots you wish a Trader to have open at any one time, before he can open any more lots. Also, next to each Trader's name you have selected, there is a drop down selection called ‘lots’. This pertains to the number of lots to be traded on each individual trade. For example: if you wish each Trader to trade with 2 lots per position, but wish there to be no more than 2 trades open at a time. Then you would set max open lots to 4, and number of lots next to your Traders name to 2.
14. Who is placing the trades on my account? Do the experts know about my account?
None of the Traders that recommend trades will ever know your account's existence. MOYO receives their recommendations, and checks the Traders you have subscribed with in your account profile, and decides whether or not to autotrade their advice in your Live account using a secure direct connection with the broker's backend.
15. What do Traders and Affiliates do? And how do they receive commission?
A Trader places trades on his or her account, and all clients that have selected this Trader in their account settings page receive these trades on their accounts, unless they do not have enough usable margin, or have their max open lots set to low. Traders provide signals for all clients who select them in their accounts settings page. Affiliates choose a designated URL (web page) to advertise MOYO and draw clients to use our revolutionary service. Traders get 0.5 pips for each traded lot of his or her own signals ONLY. So Trader signs up, sends signals, and passively waits for clients to use their signals, trying to have good performance to attract them. An Affiliate gets 0.4 pips for each traded lot of the clients that signed up through his website, for ANY signal. So Affiliate signs up, and starts advertising their website to attract clients to MOYO.