After reviewing dozens of providers that are active in the space – the best copy trading platforms can be found below. Additionally, you need to understand what fees and commissions you will https://www.xcritical.com/ need to pay to copy trade – and what financial markets you will have access to. Today, the best traders in the world can share their winning strategies and allow you to copy their moves.
The platform then automatically executes trades on behalf of the followers, replicating the actions of the selected trader. Finally, finding a platform with the right instruments is also essential. For most crypto traders, spot trading is likely more familiar than derivatives. These traders could look at platforms like Bitget, the largest copy trading platform for the crypto spot market.
Meta Trader 5 (via FinmaxFX) – Best Copy Trading Platform for High Leverage
ZuluTrade was among the first copy trading platforms that enabled users to follow pro traders. It’s worth mentioning that ZuluTrade is not a broker but a social wealth https://www.xcritical.com/blog/what-is-a-copy-trading-platform-and-how-it-work/ management platform. Copy trading platforms are built on the idea that not everyone has the time, knowledge, or experience to actively trade in the crypto market.
Beyond finding a trader to copy, DupliTrade allows you to configure personal settings to copy only certain actions, strategies, and setups. The biggest drawback of this trading method is that you have to mirror everything. The biggest drawback of this trading method is that you need to constantly monitor the market’s flow and decide on individual trade trends. Remember to regularly assess your portfolio and make adjustments as necessary to align with your evolving goals and the changing market conditions. Follow the pros and access next-level trading opportunities, without the hassle of investing yourself.
Duplitrade (via Pepperstone) – Best Copy Trading Platform for Diversification
This allows you to sit back and day trade around the clock without needing to do any research or place any orders. There are, however, two main considerations that you need to make when using this top-rated copy trading platform. Firstly, you will need to personally find a suitable forex EA – as this isn’t provided by MT4. There are thousands of providers in the space – so make sure you perform lots of research.
To ensure you select a copy trading system that best meets your needs, we would suggest reviewing the following sections. WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security. Information is provided ‘as-is’ and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data. EToro is the best platform for forex copy trading and all other types of copy trading. But to use MT5, you need to sign up through a broker, who will have other requirements for account opening that you need to consider.
What is a Copy Trading Platform?
Pionex completely customizes its trading algorithms, allowing you to adjust parameters according to your preferred copy trading strategies. Maintain a balanced portfolio by copying traders with different trading strategies and time horizons, focusing on various cryptocurrencies or trading pairs. Diversification helps mitigate risks and can potentially enhance the growth of your positions. Effective portfolio management is crucial in copy trading as it allows you to allocate your capital and minimize potential losses strategically. If you’re a novice trader, you can select and copy the trades of experienced traders, effectively piggybacking on their expertise.
- Moreover, our lead traders will earn a 13% profit share from anyone who copies their trades.
- Picking the right platform could make or break a copy trader’s performance.
- Recently, copy trading has become a massive phenomenon in the crypto market as well.
- Everyone is a genius in a bull market, but this success rarely lasts.
- If you want to try social trading with eToro copy trading, you’ll need to sign up for an eToro account and place a deposit of $10 or more.
- Then, you will need to head over to your chosen broker and place the suggested orders.
- Perhaps the main drawback with ZuluTrade’s copy trading tool is that you will need to pay a profit-based commission to the platform.
Established in 2011, FXTM is one of the most popular forex brokerages and platforms for copy trading, with over 4 million users in 180 countries. FXTM is applauded for its user-friendliness and educational materials, and has a 3.4 score on Trustpilot. The next option, DupliTrade, is a good choice if you want an easy-to-use platform to copy trading strategies from multiple providers. Finally, there’s the AvaSocial app that you can download and use to automate your trades.
Create a LiveBlackBull Markets Trading Account
If the trader reaches it, the platform blocks all trading until the next day. Offer your clients the chance to earn money by starting a career as a professional, self-employed full-time trader. However, your money managers have the option to show or hide accounts from the leaderboard. History uploader allows you to create, save and edit public statistics performance. With this tool you have full control over your leaderboard and can launch sales and marketing to investors straight after launch. Our company is registered in Switzerland and has been operating since 2013.