Are you tired of trying to navigate the complex world of trading all on your own?
In this article, we'll dive into the exciting realm of copy trading and explore the best copy trading platforms available to help you make better trades.
Copy trading is a revolutionary method of social trading that empowers you to follow and even replicate the trading strategies of experienced traders. Whether you're a seasoned investor or just starting, copy trading offers a unique opportunity to learn from the best and potentially maximize your trade profits.
The best part?
You can do it either for free or by paying a nominal fee, depending on your preferences and desired level of engagement.
These platforms go above and beyond by allowing you to buy and sell trading signals. This means that you can automatically copy trades executed by the traders you follow, without lifting a finger. By automating the copy trading process, you eliminate the need for constant monitoring and manual execution.
We've meticulously analyzed and compared their features, performance, and user reviews to provide you with a curated selection of the very best. From user-friendly interfaces to advanced analytical tools, we've got you covered.
So, without further ado, join us as we unlock the doors to the best copy trading platform review of 2024 and beyond.
Best Copy Trading Platform in the USA: eToro
When it comes to the best copy trading platforms in the USA, one name stands out from the crowd: eToro. This platform enables traders to effortlessly duplicate the trades of successful investors across a vast selection of more than 2300 financial instruments. From forex and exchange-traded securities to popular cryptocurrencies and CFDs, eToro has it all.
What sets eToro apart is its innovative copy trading feature, which has attracted over 20 million clients to date. eToro’s CopyTrader platform is the place that allows you to observe real people trading in real-time.
eToro's platform is available on multiple devices, including Web Trader, mobile, and tablet apps. This accessibility ensures that you can stay connected to the markets and execute trades wherever you are.
CopyPortfolios: pre-packaged investment portfolios that group together various financial assets, including stocks, cryptocurrencies, commodities, and more.
Transparent Performance Statistics: allowing users to evaluate their historical performance, risk levels, and other relevant metrics.
Customizable Allocation: Users have control over how much of their portfolio they want to allocate to each trader or CopyPortfolio they choose to copy.
Popular Investor Program: allows successful and skilled traders to earn additional income by attracting copiers and sharing in the profits they generate.
Zero-dollar commissions trading for US stock trading.
$100,000 demo portfolio.
Copy trade signals from up to 100 traders simultaneously.
For US users the minimum deposit at eToro is $10 for debit cards and PayPal, respectively $500 for bank transfer deposits. However, the minimum amount required to copy trade is $200/investor, respectively $500,000 is the maximum amount you can invest in a single trader.
There are no extra charges for copy trading.
Best Copy Trading Platform for Social Trading: ZuluTrade
ZuluTrade is the best social trading platform.
With over one million users from across the globe and a staggering trading volume surpassing $800 billion, ZuluTrade has established itself as a major player in the market.
Since its inception in 2014, ZuluTrade has become a formidable competitor to eToro, boasting a vast community of users with proven track records in copy trading. This vibrant ecosystem allows experienced traders to earn from sharing their successful trades with other users, creating a win-win situation for all participants.
Compatibility with MetaTrader 4 and MT5: ZuluTrade supports both MetaTrader 4 and MetaTrader 5 platforms.
AutoProtect: Closes all open positions when you hit a threshold.
AutoMator: Customizable feature to lock in profits and update stop loss and allows multiple trades simultaneously.
ZuluGuard: This intelligent account protection feature automatically detects any deviation from a Trader's expected loss profile, swiftly taking action to remove them from your portfolio.
Social feed: allows you to interact with other forex traders and follow trending hashtags.
The pricing depends on how many leaders you follow and is $10 per copy trader. Discounts may apply for quarterly, semi-annual, and annual subscriptions. There is no applied subscription for integrated brokers (Fxview, AAAFx, and AvaTrade).
Discover the top Forex brokers for copy trading! Visit our comparison page and find the perfect platform to maximize your copy trading success.
Best Copy Trading Platform for Expert Advisors: MetaTrader 4 Trading Signals
MetaTrader 4 is the best social trading platform for Forex EAs.
When it comes to copy trading platforms that cater specifically to expert advisors, MetaTrader 4 Trading Signals takes the spotlight. Widely recognized as the most popular third-party trading platform worldwide, MetaTrader 4 (MT4) is the go-to choice for Trading Signals service, which empowers users to effortlessly replicate the positions of carefully selected investors.
Each signal is accompanied by crucial information about the specific strategy, historical return on investment (ROI), maximum drawdown, and more, which allows MT4 users to make informed decisions based on data-driven insights.
Expert Advisors (EAs) Support: Download and install expert advisors into the MT4 platform, enabling automated trading based on pre-defined conditions and algorithms.
24/7 Trading: With expert advisors at your disposal, take advantage of round-the-clock trading without the need for a separate Forex VPS.
Wide Range of Markets.
User-Friendly Interface: MetaTrader 4 Trading Signals offers an intuitive and easy-to-navigate interface.
Monthly Fees: The fees associated with copy trading on MT4 are determined by the strategy creator. These fees are typically charged every month and vary depending on the specific strategy. On average, you can expect to pay around $20 to $60 per month, and occasionally you can also find free signals.
Broker Fees: MetaTrader 4 is a third-party trading platform, which means you'll need to find a suitable online broker that supports MT4 and expert advisors. The broker you choose will have its fee structure, including spreads, commissions, and other charges.
It's important to carefully review the forex broker's fee before getting started.
Best Copy Trading App: AvaTradeGo
AvaTradeGo is the best copy trading App.
AvaTrade offers a variety of proprietary platforms, including AvaTrade, WebTrader, and AvaOptions, as well as social trading platforms like ZuluTrade and DupliTrade, and the AvaTradeGo mobile app.
Copy trading is a key feature of AvaTrade, allowing users to benefit from the expertise of experienced traders. By following, copying, and trading based on the market moves of successful traders, users can reduce their learning curve and expedite their market entry. This social trading feature is especially beneficial for those looking to explore new assets or trade-in unfamiliar markets.
AvaTrade's copy trading platforms support various assets, including cryptocurrencies. Through contracts-for-differences (CFDs), users can trade cryptocurrencies and other assets by speculating on future market price movements.
Multiple Platform Options: AvaTrade provides desktop, web, and the AvaTradeGo mobile app.
Social Trading Community: AvaTrade enables users to connect with experts, ask questions, join trading groups, and discover trading strategies.
Automated Social Trading: AvaTrade allows users to automate their social trading activities.
Wide Range of Cryptocurrencies: Users can access popular cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Bitcoin Gold, EOS, Ripple, Dash, and Litecoin through AvaTrade's platforms.
AvaTrade has a minimum deposit of $100, a $50 fee for three months of inactivity, and an administration fee of $100 after one year of inactivity.
Best Copy Trading Platform for Beginners: Axi
Axi’s copy trading App is best for beginner traders.
Axi allows traders to personalize their copy trading experience by customizing their search for traders to copy from. Whether it's forex, shares, indices, commodities, precious metals, or oil trading, Axi offers copy trading options across a diverse range of assets.
It's important to note that copying trades from professionals doesn't mean beginners have to take on the same level of risk. Axi empowers traders to manage their risk by adjusting personal settings according to their comfort level.
To ensure seamless accessibility, Axi provides the popular MT4 platform for copy trading. Additionally, traders can access the copy trading feature through user-friendly mobile apps available on Google Play and the App Store.
By linking their MT4 accounts to the app, traders can take advantage of copy trading functionality while on the go.
Trading history, performance numbers, and the markets they trade
Adjust the trade settings (fixed trade size, mirror master size, or mirror master risk)
Manage risk setting (warning level, soft stop level, hard stop level)
Large pool of liquidity providers (+20 LPs)
Supports MetaTrader 4 and MT4 WebTrader
Copy trading on Axi is completely free. Axi recommends a minimum investment of $250 for copy trading, but traders have the flexibility to risk a lower amount if desired.
Best Forex Copy Trading Platform: Telegram.Forex
Telegram.Forex is the best Forex copy trading platform for Telegram signals.
Telegram.Forex is a leading copy trading platform specifically designed for forex trading by seamlessly integrating Telegram forex signals with the MetaTrader 4 trading platform. With its innovative features and comprehensive functionality, it offers traders an efficient and time-saving solution.
By linking your MetaTrader 4 (MT4) account to Telegram.Forex software automates the entire forex copy trading process.
Full asset coverage: copy trade forex currency pairs, commodities, and cryptocurrencies, providing you with ample opportunities in the market.
Symbol exceptions: Personalize your trading by excluding specific symbols (e.g., currency pairs) from being traded based on your preferences.
Risk management control: You can choose to duplicate the take-profit and stop-loss levels from the signal provider or set them yourself. Trailing stop-loss and custom breakeven levels further protect your profits.
Instant signal execution.
Money management options.
5-Day Trial: $4.99.
Telegram to MetaTrader App: $149.94 (annual billing with 50% savings).
Leaderboard Results: $119.94.
Best Copy Trading Platform for Cryptocurrencies: BingX
BingX is the best copy trading platform for cryptocurrencies.
With a thriving user base spanning over 1 million individuals across 100+ regions, BingX offers a vast selection of over 500 cryptocurrencies.
BingX's copy trading system extends its support beyond cryptocurrencies. It also encompasses DeFi (Decentralized Finance), NFTs (Non-Fungible Tokens), Indices, Commodities, Forex, and Layer2, providing users with a comprehensive suite of trading options.
1:150 maximum leverage on BTCUSDT pair.
Over 500 cryptocurrencies.
Bonuses of up to 5,125 USDT.
24/7 trading availability: Enjoy round-the-clock access to the platform.
The minimum account deposit is 1 USDT. BingX does not impose any monthly fees for accessing and utilizing the platform's copy trading features.
Best Copy Trading Platform for Advanced Traders: DupliTrade
DupliTrade is the best copy trading platform for advanced traders.
DupliTrade acts as a dynamic link, connecting traders who offer trading strategies and signals with clients partnered with select brokers. This innovative approach allows clients to benefit from the in-depth market knowledge and proven strategies of these skilled traders.
What sets DupliTrade apart is its meticulous selection process for strategy providers. Only audited copy traders with a solid track record of trading with real money are eligible to become DupliTrade strategy providers. This ensures that the accounts displayed on the platform represent real traders who have achieved tangible results over the years.
Copy trade across various asset classes, including forex, stocks, cryptocurrencies, commodities, and indices.
You can analyze the performance of different strategy providers, including their profits, trade volumes, trading duration, win percentages, and the number of followers.
You can adjust trades and set the proportion of the copied trades.
Supports 12 reputable Forex brokers: AvaTrade, Ic Markets, Pepperstone, Fusion Markets, AxiTrader, FxPro, FXDD, Equiti, Moneta Markets, Vantage, and BlueberryMarkets.
In terms of pricing and minimum investment, DupliTrade does require a minimum deposit of $5,000 into your brokerage account. No monthly fees ensure cost-effective trading.
Best Copy Trading Platform for Algorithmic Trading: cTrader
cTrader is the best copy trading software for algorithmic trading.
From a diverse selection of indicators and customizable orders to real-time pricing charts (Level 2 pricing fees), rapid execution, and the ability to copy strategies, cTrader empowers traders with cutting-edge capabilities. Notably, the platform hosts a wide range of strategies developed by third-party experts, providing users with ample options to explore.
Featured cTrader forex brokers that also allow copy trading are: IC Markets, Skilling, Fondex, TradeView, and FxPrimus.
Flexible control to start and stop copying a strategy at any time.
User-friendly and intuitive interface.
Advanced analytics with charts showing performance metrics like Time Weighted ROI, Balance vs Equity, and Traded Symbols breakdown.
Each strategy has a unique URL for easy sharing outside of the cTrader platform.
Equity to Equity copying, where investors copy open positions based on equity-to-equity ratio and can set an Equity Stop Loss.
Favorites feature for bookmarking and monitoring strategies of interest.
Volume-Based Commissions: Strategy Providers charge commissions based on traded volume while copying their strategy.
Performance and Management: Money managers receive a percentage of clients' ROI with a fee structure based on allocated funds.
The pricing structure of cTrader varies depending on the third-party broker chosen by the trader. While some strategies on cTrader come with a fee, there is also a selection of completely free strategies available.
Best Copy Trading Platform to Manage Multiple Accounts: Duplikium
Duplikium is among the best social trading platforms for managing multiple copy trading accounts.
Duplikium is a cutting-edge cloud-hosted tool designed for efficient trade copying across multiple trading platforms and forex broker accounts. Copy trades across different trading platforms, including CTrader, MetaTrader 4 (MT4), cTrader, LMAX, and FXCM.
Alerts and notifications via SMS and email alerts.
Reverse trading to counter risky positions taken by the main broker account you are copying.
Diversification: Split your investments across multiple brokers, maximizing your trading potential and minimizing risk.
Utilize your capital and even the resources of multiple prop firms like MyForexFunds to enhance your trading performance.
Risk management tools.
Hosted in the Cloud - No VPS required.
Ultra-low latency between 1-3 ms.
Flexible plan as low as 3.90 EUR/account and max 19 EUR/account billed monthly
Prepay plan: 2 EUR/ 1 standard lot copied
Explore our comprehensive Forex brokers comparison page and discover the ideal platform that aligns with your copy trading needs.