How GV Follow Works?

Part 1. How to copy trade with Genesis Markets

What is Genesis Vision Follow?

As we continue to create new and initiative products to our project it is important we also go about giving you all a detailed insight to what they are actually doing! We wanted to provide a detailed explainer about Genesis Vision Follow which is an innovative copy trading product.

It allows you to copy trades opened and managed by another trader, while keeping control of your capital. You can find our Follow product in the ‘Invest’ section. To subscribe to the trades, you simply choose a Follow account, and Genesis Vision will automatically copy the trades to your account. You will have control over the trades and you can close them whenever you want. You will also be able to unsubscribe at any moment to stop copying the trades.

Copy trading is available to Genesis Markets Broker and Binance Exchange, so we have split this explainer into two parts to make things a little less confusing. Firstly lets look at how we use our copy trading module and our broker, Genesis Markets.

How can I become a Signal Provider?

You will first need to choose Genesis Markets as your broker and create a private trading account. You can do this under the ‘Trade’ tab on the platform. Once this is created, you can upgrade your private trading account to Signal trading account (Follow) or you can upgrade your private trading account to the Program and then upgrade it to a Signal program.

You can click “Create Program” and immediately create a program without first creating a trading account.

How do I subscribe to Follow?

In the Follow section, you can choose to tap into top traders’ expertise and follow their trades. To begin, you need to have a trading account. So when you click the Follow Trades button on the trader’s page, it will offer you to choose an existing account of yours, or to open a new account and deposit funds to it. When you do this, the trades will start copying to your trading account according to the chosen subscription type.

Any investor can subscribe to any number of Signal provider Programs or Signal trading accounts.

What types of subscriptions are available?

There are three types of subscription available: by balance, percentage and fixed.

By balance. When choosing this subscription, the volume of the position opened is proportional to the trading account balance of the leader and the follower. For example, Provider balance = 100 USD, he opens a trade with a volume of 10 USD. Subscriber balance = 20 USD, this means it will open the position for the same asset but with a volume of 5 times lower which is 2 USD.

Percentage. When you choose this subscription, you set the volume percentage of the Provider’s opened position that the subscription will copy. Meaning if the Provider has opened a trade for 100 USD while the percentage the Subscriber has set is 30%, it will open the trade on the Subscriber trade account for 30 USD.

Fixed. By choosing this subscription type, the positions will open only for the fixed amount that the Subscriber has set in the USD equivalent field when subscribing to the signal program/trading account. It does not depend on the size of the trade of the provider.

For each subscription type, you will need to set a Tolerance percentage (maximum possible deviation of the trade price from 0% to 20%). This means if you set it to 0% for the chosen subscription type, the trade must open at the exact same price as the provider’s trade. If a subscriber’s price at the moment of the opening is worse than than the original trade price for more than the set Tolerance percentage, the trade won’t be opened.

Commissions

The table shows all the commissions paid by Subscribers.

For more information on fees please see: https://genesis.vision/fees

• Success fee is the fee charged on profits from a trade transaction when Copy Trading. It is calculated according to the HWM system as a percentage of the profit received from a trade transaction when copy trading. No profit means no Platform Success fee is charged.
• Platform Success fee is the fee charged on any profits generated from a trade transaction when Copy Trading. It is calculated according to the HWM system as a percentage of the profit from a trade transaction when copy trading.
• The volume fee is a volume commission charged for opening the transaction. It varies from 0 to 30% of the amount of paid trading fee by the trader.

* This percentage depends on the amount of GVT stored in the wallet. The maximum Success fees without any discounts applied is 10%. For every 1 000 GVT stored in the wallet reduces the success fee by 1% (i.e. an investor holding 1000 GVT will only pay a 9% Success Fee, an investor holding 10 000 GVT will pay no Success Fees).

How do I cancel my subscription to the trading account?

You can cancel your subscription on the trader’s page or in your dashboard. You should press the “Unfollow” button and choose one of the types.

There are three ways to cancel your subscription: close only, close all immediately, and manual closing.

Close only. The new trades will stop opening, and the remaining opened trades are closed when the Provider closes their trades.

Close all immediately. The signal provider subscription gets cancelled, and all the opened trades are closed immediately.

Manual closing. You unsubscribe from the signal provider, but all the opened trades stay open. The Subscriber can close the open trades manually at any time. This means when the Provider closes their trades they will not be closed on the Subscribers trading account.

Please note:

• You can edit the terms of your subscription anytime. It could be done on the trading account page that is subscribed to the trader.
• You can always close a trade by yourself regardless of the type of subscription. To do that you need:

1. On your trade account page in the Open positions tab next to the transaction click on X;
2. Login to your account. In the trading section, you will see all the opened trades. You can choose one and close it in the opened window.

• If the provider opens a position, and the subscriber does not have enough funds to open precisely the same amount, then the Subscriber transaction will not open.
• If the calculated lot volume is less than the minimum lot volume for this symbol on Binance, then the Subscriber deal will not open either.
• You can unsubscribe anytime, no exit fees apply. The opened trades will be closed according to the way you choose.
• You can only use the copy trading functionality if you are a GVT holder. To subscribe to trading signals of a manager, an investor needs to have GVT. Signal fees are withdrawn from the GVT wallet.
• You can view the entire history of copying transactions in the Trading log on your trading account page.

Lead by example and show of your trading skills, or simply follow the best traders with Genesis Vision Follow.

Check us out: https://genesis.vision/invest/follow

Thank you for taking the time to go over our products. We will have a second part to this article which will be released so stay tuned!