Best Copy Trading Brokers

Best Copy Trading Brokers

Many traders use the popular copy trading feature when trading the financial markets. Copy trading provides an opportunity for new traders to benefit from the proficiency of experienced traders by copying their trades. This increases the chance of profiting from reliable strategies rather than losing your investments. Here are the best brokers of copy trading on the market today.

Broker Software Minimum Investment Markets Regulation subscription cost
RoboForex CopyFX $ 100 Forex, stocks, CFDs IFSC, CySec, FCA Free
eToro eToro CopyTrader $ 200 Forex, stocks, CFDs, cryptocurrencies CySEC, FCA, ASIC Free
AvaTrade AvaSocial, DupliTrade, ZuluTrade, MetaTrader MQL5 $ 100 Forex, stocks, cryptocurrencies, commodities Central Bank of Ireland, ASIC, FSCA, Japanese FSA, ADGM, FRSA Free
IC Markets
MetaTrader, cTrader, Myfxbook and ZuluTrade $ 200 Forex, CFDs (ASIC) Free

Best Copy Trading Brokers: RoboForex

Many traders use the popular copy trading feature when trading the financial markets. Copy trading provides an opportunity for new traders to benefit from the proficiency of experienced traders by copying their trades. This increases the chance of profiting from reliable strategies rather than losing your investments. Here are the best copy trading brokers on the market today.

Up to 120%
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Investing in Forex, CFD and FX options involves substantial risk of loss and is not suitable for all investors.

Regulated by Belize (IFC), Roboforex is a popular copy trading platform that caters to many traders.

Users of the Roboforex like the platform because of its well-designed and user-friendly interface, convenient and relative analysis for traders and its low minimum deposit.

It has a wide-scale network of 1400 strategy providers with a minimum deposit of $10. Roboforex charges a percentage on profitable trades, the average being 40% commission on all profitable trades.

RoboForex provides a social copy trading platform that works like an affiliate program. You can earn a partner commission by referring new subscribers to the strategy provider.

However, the disadvantages of using Roboforex are that the filters are not widely developed and the commissions charged are very high, discouraging traders.

Furthermore, the broker is registered with an offshore company which creates doubts in the minds of potential traders.

Best Copy Trading Brokers: eToro

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$ 100.000
Free Demo

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*Your capital may be at risk
Investing in Forex, CFD and FX options involves substantial risk of loss and is not suitable for all investors.

A eToro has an easy-to-use platform that allows traders to duplicate investor trades on over 2300 instruments, including Forex, exchange-traded securities, popular cryptocurrencies, and CFDs.

Founded in 2007 and regulated in one Tier 2 jurisdiction and two Tier-1 jurisdictions, eToro is a safe broker for CFD and Forex trading.

Its main innovation and product is to combine copy trading and self-directed trading into a unified experience.

With eToro, you can invest and trade the best stocks and ETFs, arrange a meeting with your investors, and build your cryptocurrency-based portfolio.

With a minimum deposit of $50, eToro allows you to open four types of accounts: standard account, Micro account, Islamic account and VIP account.

Available on Web Trader, Mobile and Tablet apps, eToro's advantages are that it supports a wide range of assets to trade, has an innovative platform and is a highly regulated broker (CySEC, FCA and ASIC).

However, eToro's disadvantages are that the spreads are a little wider than average and it doesn't have the MetaTrader platform.

Best Copy Trading Brokers: Avatrade

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$ 100.000
Free Demo

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*Your capital may be at risk
Investing in Forex, CFD and FX options involves substantial risk of loss and is not suitable for all investors.

A global brand famous for providing traders with multiple trading platform options, AvaTrade is an excellent platform for copy trading.

It is mobile-friendly and competitive in terms of the industry average for search and pricing. AvaTrade also has great educational materials.

Founded in 2006, AvaTrade is a secure broker for Forex and CFD trading, regulated in three Tier-1 and Tier-2 jurisdictions. In terms of commissions, AvaTrade is not a low-cost trading platform, except for professional traders in the EU.

Its copy trading platforms include its proprietary platforms, MetaTrader, DupliTrade and ZuluTrade for social trading. Its variety of trading platforms gives it a competitive edge.

AvaTrade is preferable because it offers negative balance protection for its users. It has a global presence with locations in many countries.

It is regulated by some of the most reputable Forex and financial trading bodies in various regions.

The downside is that their demo account has a lifespan of 21 days, which is relatively short for many traders. Also, AvaTrade charges high downtime fees and this discourages casual traders.

Best Copy Trading Brokers: IC Markets

IC-Markets-Logo

$ 100.000
Free Demo

Visit Now!Visit Now!
*Your capital may be at risk
Investing in Forex, CFD and FX options involves substantial risk of loss and is not suitable for all investors.

Established in 2007 and used by over 180.000 traders, IC Markets only offers one Islamic account and one VIP account for its users.

A IC Markets have a minimum deposit of $200 and no withdrawal fees or inactivity fees, though their deposit fees vary and cover CFD commission fees.

IC Markets prides itself on super-fast order execution speeds in the 40 millisecond range, processing over $15 billion in daily trades.

IC Markets supports multiple trading platforms including ZuluTrade, MT4, MT5, Mirror Trader, Web Trader, cTrader.

What is copy trading software

What is copy trading software

Copy trading software is a platform that gives new traders the opportunity to copy positions from experienced traders.

Brokers can easily significantly increase their trading volume as it presents new opportunities for anyone interested in the financial market.

While experienced and successful traders can continue to get paid weekly or monthly for trading on their accounts, novice traders, less experienced traders, those who do not want to trade, or anyone who has difficulty making a profit can copy the positions of successful traders. .

The main benefit of copy trading is that it transfers the hard work of analyzing financial markets to others, making it relatively easy to manage your copy account and track results even from your cell phone.

Copy trading is offered through proprietary software or third-party platforms. In addition, some brokers offer search tools and network forums – for example, TradingView or Telegram.

How to use copy trading signals

The first step is to open an account with your preferred broker and for this article we will be using Roboforex in our illustration.

To be an investor on Copyfx, you must open a trading account on MetaTrader4 via its Members Area on the RoboForex website.

There are different types of accounts, and the most suitable for investing are Pro-Cent, ECN-Pro, Pro-Standard, Pro-Affiliate and Prime.

The next step is to select a trader, which is done by comparing and evaluating the work of different traders.

There is a special instrument called traders rating. The rating shows the evaluation of each trader's work, and it helps investors to decide which trader to sign. The rating can be found on the PMA and Copyfx website.

CopyFX Trader Rating

 

After deciding on your trader based on your preferences and rating, you must sign up to copy trades.

We access the trader's personalized card in the ranking and then evaluate your subscription conditions. These conditions include:

  • First, check the type of commission fees to determine how they charge, which can be for profit with no commission fees or on top of commission fees.
  • Then confirm the amount charged by the trader. It is usually a percentage of profit or a flat fee for profitable trades.
  • Also, there is a minimum deposit, the minimum you must have in your account to subscribe.
  • You can also see the number of investors who are already subscribed to the trader.
  • Finally, the investment period means when the commission fee will be deducted from your account.
  • After accepting all parameters, you can click on “Invest” and proceed to your PMA to customize your subscription.

The PMA is divided into the left and right sides, and on the left you will see the traders' account work evaluation.

And on the right, your account is displayed. It is advisable to choose an account to copy if you have multiple suitable accounts.

In the center of PMA, choose “configure signature manually”. After choosing subscription mode, you can click “Subscribe to trader” and your subscription will be completed.

How to choose a copy trading signals provider

Choosing the right copy trading signal provider is important, and here are some tips to guide you:

  • a) a reputation

The first factor to consider when choosing a signal provider is their reputation. A copier platform with a good track record and longevity in the market will ensure your success and the safety of your funds. Reviews and ratings from other users of this provider will inform your decision.

  • b) Leading signal provider

Another factor to consider when choosing a signal provider is ensuring they are a world leader or considered a world leader.

You want a supplier known to be an industry leader in terms of innovation. With the right provider, you can easily access a variety of markets, trade both via an online platform and via your mobile phone.

The best signal providers are those that are always looking for ways to improve their competitive edge.

  • c) Commissions and fees

It's important to know how competitive your provider's rates are. With multiple providers in the market comes a variety of charges and fees.

Most experienced traders make a point of ensuring transparency when it comes to how much they are being charged by their copy trading broker.

  • d) Payment methods

It's easier and more convenient to negotiate when your provider offers a wide variety of financing methods.

Reliable financing facilities facilitate the trading experience and process.

Common ways to fund your account include bank transfer, credit card, PayPal, Skrill, Payoneer, Neteller, etc.

You would need to research the facilities allowed by your preferred copy trading broker to make any commitments.

  • e) Customer support

One of the key determinants of a successful copy trading experience is the broker's customer service.

Customer service can be a variety of support services, including training, installing, canceling, updating and troubleshooting a product or service.

These services can ensure the correct use of the copy trading platform and make your experience cost-effective.

Communication channels for most brokers include telephone customer service, email customer service support and live chat support.

  • f) Comprehensive trader features

When choosing a signal provider, the final factor is to ensure they also offer free resources such as education, analysis and risk management tools.

Summary on the best copy trading brokers

Traders interested in short-term trading or with less time to catch up with market trends benefit most from copy trading.

By evaluating and filtering traders with a track record of success, copy trading portfolio management software gives new traders and professional traders an opportunity to benefit.

With several brokers providing copy trading feature to their users, it is important to review and study each of the platforms to ensure they are well regulated and suitable for your needs.

As a new trader, it is best to trade with certified and trusted brokers through extensive monitoring.

Many traders use the popular copy trading feature when trading the financial markets. Copy trading provides an opportunity for new traders to benefit from the proficiency of experienced traders by copying their trades. This increases the chance of profiting from reliable strategies rather than losing your investments. Here are the best copy trading brokers on the market today.Copy trading FAQ

 

Is the copy trade legal?
Yes, copy trading is legal in most countries. However, to ensure you are on the right side of the law, it is best to research the brokers and regulations available in your country.
What is the best copy trading platform?
We have found RoboForex to be the best and most trusted copy trading platform through our extensive research and data collected from traders.
How do you copy the trade?
Using a copy trading platform, traders can automatically copy trades from signal providers in real-time.
How do you know the best traders to copy?
Before deciding who to copy, it is wise to look beyond absolute returns and more into other metrics such as the number of placed traders, average profit and loss, and average trade duration.

 

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