Last Update: April 1st, 2024

The 10 Best Copy Trading Platforms revealed. We have researched and tested several copy trading platforms, both third-party and those offered by reputable Forex and CFD Brokers, to find the 10 best listed.

In this in-depth guide, you’ll learn:

• What is Copy Trading.
• What are the 10 Best Copy Trading Platforms.
• How Copy Trading Works.
• Best Copy trading app.
• Free copy trading platform.
• What The Benefits Are of Copy Trading.
• Copy trading platform for beginners.
• Our Conclusion on the 10 Best Copy Trading Platforms.
• Popular FAQs about the 10 Best Copy Trading Platforms.

And lots more…

So, if you’re ready to go “all in” with the 10 Best Copy Trading Platforms…

Let’s dive right in…

10 Best Copy Trading Platforms (2024*)

1. ☑️eToro – Award-Winning ASIC Regulated Forex Broker
2. ☑️AvaTrade – Low-cost trading experience
3. ☑️NAGA –Best Mobile Trading Experience
4. ☑️Darwinex – Best MT4 Trading Tools
5. ☑️Exness – Best ASIC-Regulated Forex Broker
6. ☑️Zulu Trade – Best Broker for Beginners
7. ☑️Pepperstone – Strong reputation for Regulation and client safety
8. ☑️HFM – Low forex fees and favorable non-trading fees.
9. ☑️DupliTrade – Best Globally Regulated Broker
10. ☑️FXTM – Lowest Cost ECN Broker

🏆 10 Best Forex Brokers

	Broker	Review	Regulators	Min Deposit	Website
🥇		Read Review	ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA	USD 100	Visit Broker >>
🥈		Read Review	FMA, FSA	USD 50	Visit Broker >>
🥉		Read Review	FSCA, CySEC, DFSA, FSA, CMA	USD 0	Visit Broker >>
4		Read Review	SFSA, FSCA, CySec*	USD 5	Visit Broker >>
5		Read Review	FCA, CySEC, FSCA, SCB	USD 100	Visit Broker >>
6		Read Review	FCA, FINMA, FSA, ASIC	USD 0	Visit Broker >>
7		Read Review	CySEC, FCA, FSA, FSCA, Labuan FSA	USD 100	Visit Broker >>
8		Read Review	Not Regulated	0.001 BTC	Visit Broker >>
9		Read Review	ASIC, CySEC, FSCA, CMA	USD 100	Visit Broker >>
10		Read Review	SVGFSA	USD 5	Visit Broker >>

What Is Copy Trading?

Copy trading is a discerning amalgamation of community-driven insights and individual investment strategies that enable users to emulate the transactions executed by accomplished investors in real-time.

Fundamentally, it levels access to financial markets, providing new and seasoned traders commensurate benefits from the cumulative insight of an active trading community.

This mutually beneficial ecosystem is reinforced through platforms that function primarily as learning and strategizing forums instead of being purely transactional centers.

The diverse array of offerings provided by these platforms, ranging from the scope of tradable assets to the comprehensiveness of analytical tools furnished, has engendered a customized experience that holds the potential to bear significant influence on traders’ performance.

Technological advancements and legal frameworks have hastened their proliferation while ensuring transparency, security, and compliance – all vital for upholding trustworthiness and effectiveness in copy-trading pursuits.

10 Best Copy Trading Platforms and Brokers (2024*)

eToro

Overview

eToro is a leading social trading platform with a robust community of traders and efficient replication mechanisms. It offers curated investment strategies based on market trends like renewable energy and cryptocurrency.

The platform’s intuitive user interface accommodates users of diverse skill levels, and instructional resources help users navigate the platform’s functionalities.

eToro does not impose any direct fees for copy trading. However, users need to consider the potential fluctuation of spreads on underlying assets. Moreover, the platform may enforce inactivity penalties to incentivize traders to maintain frequent involvement.

They provide users access to a wide range of financial assets, including stocks, ETFs, currency, cryptocurrencies, and commodities, allowing for a well-diversified trading portfolio.

The platform is well-known for its user-friendly interface and straightforward design, making it an ideal starting place for new traders.

It has a comprehensive live chat and email support system and a significant social trading community where traders may share ideas and methods.

They follow rigorous regulatory standards and is regulated by key agencies such as the FCA, CySEC, and ASIC to provide a secure trading environment.

Unique Features

eToro Copy Trading Pros and Cons

AvaTrade

Overview

AvaTrade allows investors to trade CFDs on FX, Stocks, Commodities, Crypto, Indices & Options.  They offer tight spreads, no commissions, leverage of up to 400:1, and instant execution.

They offer access to DupliTrade and ZuluTrade, bearing the advantage of a diverse array of signal sources for traders. Notably recognized for its provision of numerous analytical tools and risk management functionalities, this platform contributes significantly towards informed strategic decision-making by users.

The platform charges fixed spreads, and some signal providers also charge fees. Traders must consider these possible fees while picking a service.

Traders on AvaTrade can select from a wide choice of products, including Forex, equities, commodities, and ETFs, to suit various trading needs. The user experience might be fairly difficult owing to the many platform alternatives offered, which may need a learning curve for new users.

Offers timely support channels and promotes an active trading community, making it a useful resource for new and seasoned traders. Many worldwide agencies, including ASIC and the Central Bank of Ireland, regulate the platform, ensuring a safe and dependable trading environment.

Unique Features

AvaTrade Copy Trading Pros and Cons

NAGA

Overview

The chief focus of NAGA’s platform centers predominantly on social trading, encompassing an automatic copying capability, a roster showcasing top-performing traders termed the ‘Leaderboard,’ and providing valuable market data via its newsfeed feature to enhance the overall experience.

The platform charges per-trade copy fees in addition to underlying asset spreads. These expenses should be considered in any profit projections. NAGA offers diverse assets, including equities, Forex, cryptocurrencies, ETFs, and indices, to suit various trading needs.

The platform is intended to be user-friendly, emphasizing community engagement, which is key to the social trading paradigm. NAGA offers a variety of support choices, including live chat and email, and its huge and active community is a key component of the platform.

To assure security, NAGA follows stringent regulations set by CySEC, a renowned financial regulatory authority.

Unique Features

NAGA Copy Trading Pros and Cons

Darwinex

Overview

Darwinex distinguishes itself through its innovative strategy incorporating the concept of “DARWINs,” financial instruments founded on proprietary trading methodologies. The platform emphasizes risk management and provides a transparent pricing framework to ensure clarity for users.

The pricing model is performance-based, with traders paying fees depending on the profits generated by their “DARWINs.” Additionally, traders face spreads on underlying assets.

Traders can choose from various products, including forex, indices, and commodities. However, the selection is less wide than on other bigger platforms. The UI is geared for intermediate traders, with some intricacy that might not be as user-friendly as other platforms.

Darwinex provides dependable service and has a dedicated community interested in the unique DARWIN investment technique. The FCA regulates the platform, ensuring that it adheres to strict regulatory norms.

Unique Features

Pros and Cons of Copy Trading with Darwinex

Exness

Overview

Exness is an intuitively designed and user-friendly social trading platform that centers on forex and commodities markets. Additionally, the program offers a streamlined mobile experience for convenient on-the-go trading activities.

Spreads on underlying assets determine the platform’s price, and users may suffer extra costs depending on the signal provider’s subscription model. The site focuses mostly on forex but also offers commodities, Share CFDs, Indices, and cryptocurrencies.

They are known for their simple application, making it ideal for beginners wishing to join social trading. The platform offers round-the-clock customer support and has a growing community of traders.

Exness is regulated by CySEC, the FSA, and other agencies, offering a secure trading environment.

Unique Features

Exness Copy Trading Pros and Cons

ZuluTrade

Overview

ZuluTrade is a well-established platform for copy trading that offers sophisticated trader filtering options and advanced Combo and Basket trading tools. Additionally, its simulated demo mode provides ample practice opportunities to enhance skills in the field.

The platform charges performance fees and provides volume-based discounts. Spreads vary depending on the broker connecting to ZuluTrade. They focus mostly on currency markets.

The interface is relatively complicated, making it better suited for people with previous trading knowledge. Client support varies depending on the broker, and the platform offers few community features. The FSA Japan licenses ZuluTrade and works with other regulated brokers globally.

Unique Features

Zulu Trade Copy Trading Pros and Cons

Pepperstone

Overview

Pepperstone seamlessly integrates with MetaTrader 4 and 5 and Myfxbook, allowing for robust analytical capabilities that enable signal providers to enhance their decision-making processes.

Users may experience spreads on assets and may be charged extra fees by signal providers. Pepperstone provides various financial products, such as Forex, commodities, indices, and stocks.

Knowledge of MetaTrader platforms is required, implying a greater barrier to entry for new traders. The website offers excellent support channels. However, the devoted copy trading community is quite limited. Pepperstone is regulated by both ASIC and the FCA, ensuring high security and compliance.

Unique Features

Pepperstone Copy Trading Pros and Cons

HFM

Overview

HFM offers the HFCopy platform that encompasses an extensive range of information related to signal providers and risk management protocols. Additionally, it facilitates automated strategies for optimal efficiency.

The broker charges performance fees for successful replicated transactions, with spreads changing depending on account type. The primary emphasis of HFCopy is forex, with minor exposure to indexes and commodities.

The UI is relatively intuitive and intended for individuals with some trading expertise HFM offers round-the-clock service and instructional materials while having a smaller community than giants like eToro. The platform is regulated by CySEC, FCA, and DFSA, among others, ensuring a secure trading environment.

Unique Features

HFM Copy Trading Pros and Cons

DupliTrade

Overview

DupliTrade prioritizes customizable replication parameters and transparent pricing models alongside comprehensive strategy analytics and a track record of results to enable informed user choices.

The platform’s cost structure is straightforward, but traders must understand its subtleties. DupliTrade does not provide diverse assets, emphasizing quality over quantity. The platform has a severe learning curve but provides specialized support and resources.

DupliTrade provides committed customer service, guaranteeing that traders receive the necessary support. This is notable despite the company’s comparatively limited market footprint, which may potentially affect its community scope and participation. DupliTrade’s security precautions are robust, although precise regulatory details may differ depending on which brokers they work with for trade execution.

Unique Features

Pros and Cons of Copy Trading with DupliTrade

FXTM Invest

Overview

FXTM Invest sets itself apart through its Strategy Managers, recognized for their proven track record of accomplishments. The platform offers a straightforward replication process and grants the option to tailor investment amounts as needed.

FXTM Invest charges performance fees depending on profits and spreads apply to underlying assets. Traders should be aware of them since they may affect net returns. FXTM Invest focuses solely on currency, leaving limited options for investors wishing to diversify into other asset classes.

The platform is user-friendly, particularly for beginners, with an easy-to-navigate layout. The support staff is noted for responsiveness despite the platform’s limited community tools for social trading. To ensure confidence and compliance, FXTM is regulated by respected agencies, such as the FCA and CySEC.

Uniqued Features

FXTM Copy Trading Pros and Cons

How Does Copy Trading Work?

Copy trading is based on a simple but smart concept: it enables users to automatically copy the positions made by more experienced traders inside their trading accounts.

When the chosen traders make a transaction, the identical deal is immediately mirrored in the copier’s account in proportion to the cash allotted.

This system allows the copier to handle their investments passively and compensates the copied traders, frequently via commissions on gains generated for their followers.

While it makes complicated trading tactics more accessible, it also requires careful selection of the proper traders to follow, considering risk tolerance and investment objectives.

The Benefits of Copy Trading

Copy trading represents a dramatic change in how people interact with financial markets. It provides a unique combination of learning and investment, allowing beginners to mimic the transactions of experienced investors, avoiding the steep learning curve associated with trading.

This kind of trading not only provides for more market exposure with less in-depth expertise, but it also allows for investment strategy diversification.

Copy trading is especially beneficial to time-poor investors since it reduces the need for regular market monitoring.

Furthermore, it promotes a community-centric approach to investing by tapping into collective expertise and creating an atmosphere where experiences and tactics are exchanged, improving one’s financial acumen.

How to Get Started in Copy Trading

Choosing the Right Copy Trading Platform

The initial measure is selecting a platform that aligns with one’s financial objectives and investing preferences. This decision ought to be informed by several factors, including the availability of instruments, fee structures, regulatory conformity, and community resilience.

The usability of the chosen platform, alongside the quality training materials provided, are crucial determinants impacting the copy trading experience.

Setting Up Your Account

After selecting a platform, the account creation process involves fulfilling a registration protocol that typically requires identification verification per legal norms.

Implementing this mechanism safeguards against potentially fraudulent activities within the trading environment and instills confidence in the security protocols surrounding transactions.

Selecting Traders to Copy

The cornerstone of copy trading is the identification of traders whose methodologies and risk preferences align with your investment objectives. It is imperative to scrutinize their performance track record, risk profile assessments, and trade execution approaches.

Numerous platforms offer comprehensive analytics coupled with transaction histories, facilitating informed decision-making procedures.

Managing Risks in Copy Trading

Risk management is crucial in copy trading, including restricting investment amounts, understanding traders’ leverage, and regularly assessing portfolio performance.

Therefore, it is advisable to start with smaller investments until confidence in platform mechanics and trader strategies is built and to invest cautiously until confidence is gained.

Conclusion

In our thorough analysis of copy trading platforms, we discovered that, although the ability to copy experienced traders is an essential tool for beginners, it demands a cautious approach.

Our research shows that the best platforms have strong regulatory frameworks, varied asset offers, and clear pricing structures. They provide users with educational materials and encourage engaged communities.

However, dependence on copy trading may often overshadow the development of one’s trading skills and understanding of risk management. It is critical that users not only imitate but also learn from the methods they replicate to develop educated trading habits.

Overall, we can conclude that, despite these disadvantages, the democratization of trade expertise via these platforms remains their most valuable feature.

Frequently Asked Questions

What is copy trading?

Copy trading is a strategy in which you automatically imitate transactions from a more experienced trader. This allows you to potentially profit from their expertise without having to do an in-depth market investigation.

Is copy trading suitable for beginners?

Yes, copy trading can be an effective technique for new investors to join the market, but it is not without risks. Before investing money, you should thoroughly examine the site and the chosen traders.

How can I find a good trader to copy?

Most platforms provide complete trader profiles that include variables such as past performance, risk levels, and trading techniques. Compare these data to locate traders that share your investing objectives and risk tolerance.

Are there fees involved in copy trading?

Yes, fees vary by platform. Some might charge a membership fee, a commission on replicated trades, or performance fees dependent on your gains.

Can I lose money with copy trading?

Yes, even experienced traders may incur losses. Therefore, it is crucial to remember that copy trading still has risks, and previous success does not guarantee future outcomes.