Here’s the truth: The vast majority of copy trading platforms are simply after your commissions. They couldn’t care less whether you blow your account. So they play to the fantasies of losing retail traders, which form the bulk of the market.
That’s why many of the top ranked systems on these platforms are martingale systems with dismally short track records and fantastical returns. When they inevitably go bust, they’re simply replaced with another, and the cycle continues. Meanwhile the platform collects commissions from both followers and providers, regardless.
I only use Darwinex for now, which is much more credible for two main reasons:
1. They use a high watermark model, which means the provider only earns a commission if YOU make a profit.
2. The monthly maximum target VaR is only 6.5%, so excessively risky systems are rightfully penalized.
Considering win rate in isolation is the classic beginner’s error. The size of your winning and losing trades matters as well. At the minimum, consider your mathematical expectancy, which takes the aforementioned factors into account.
I like trend following, which gives me a low win rate, but my winners are much larger than my losers.
Any vendor/guru who boasts of a high win rate is either a charlatan, or looking to take advantage of beginners.