Skip to content

Best Copy Trading Platform 2022 UPDATED

The digital currency is traded 24/7 and there are many types. As ZuluTrade is not a broker, deposit requirements depend on the broker you choose. The minimum amount required to stay connected to the platform is $100.

You can do this by looking at key metrics such as annual returns and risk level. Most copy trading platforms will make this information accessible. Moreover, you can filter the information with the following categories. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. There are trading platforms that automatically copy trade your stock selection with the fellow investors you are copying.

This copy trading platform allows you to open 100 currency or stock charts at a time, and the 21 timeframes enable comprehensive and detailed analysis of even minor price movements. The first step of copy trading is creating an account on a reliable stocks and trading platform. On most trading platforms, there are options to follow fellow traders.

How We Evaluated the Best Copy Trading Brokers

Have you ever wanted to either make extra money sharing your trade signals or share your trades with friends and family so they can copy you? What if you could just trade freely and know that all the details are automatically sent to your investors, clients, family, and friends? You simply offer a paid membership to your customers and then invite them to join your Telegram group. You trade, and your signals get automatically shared within the group for your members to copy.

Provides access to a wide range of markets and offers 100+ trading instruments all in one platform. Signing up is totally free, and there is NO contract and NO monthly fees, ever. Copy Trading saves you time as you don’t need to be constantly looking at the markets 24/7. This is because the Signal Providers who trade for a living and know the markets trade for you. When your eToro account funded, you can search for a trader to copy. First, select the «Copy people» button on the left side of the screen.

  • In this article, you will learn how to perform an in-depth analysis when searching for the best signal provider to follow on copy trading platforms such as Naga or Zulutrade.
  • As a trader, this means that there will be no risk of shady trade manipulations, conflicts of interest and all the other myriad of varieties of online trading fraud.
  • Plus, learn as you invest, with tools like our virtual $100k portfolio and the eToro Academy.
  • Compare the best Copy Trading platforms currently available using the table below.
  • Smart algorithms based on technical analysis for trading at all market stages.
  • That is to say trading is inherently risky, and there is always the possibility that you will lose money.
  • Hardly anything annoys broker customers more than having to physically fix or copy lost or damaged orders due to a decline of access to MetaTrader.

When someone is winning, it is easy for them to stay calm and maintain communication since they speak for themselves. During a losing streak, however, that’s when a professional’s trader’s best qualities manifest. Therefore, be sure to check out the trader’s tied up equity under the “Portfolio” tab. Also, very high returns may seem appealing, but be careful – annual returns of around 70% or more are not usual and are most likely down to luck or high risk. Also, look at the monthly returns to understand if the performance is due to a certain month/months. No minimum deposit is required, but there are minimum withdrawal amounts.

The downside of the platform is that it offers a limited number of financial instruments to trade compared to other brokers. For example, there are only 32 forex pairs that you can trade. Still, it’s enough to create a diversified portfolio with balanced trading strategies. OctaFX offers you full control over your portfolio – you can start to follow and copy an unlimited number of experts any time you want, but also stop copying them.

Get to know our top traders

The amount of money invested in the trader is a better performance indicator than the number of copiers. On eToro, Zulutrade, or Naga, for instance, people have a chance to rank the traders by AUM, which means the amount of money invested in them. In 2012, if you had invested anything by following Michaelfx, one of the most popular eToro’s Popular Investors back then, you would have lost everything! If you had spread out your risks by copying all of the remaining 9 on the list, however, you would have made some money. Also, if you had invested $1000 in each one of the 10 Popular Investors, you would have lost over $700 because of Michaelfx. You can trade more than 50 cryptocurrencies for fiat, and you can use multiple payment methods to purchase, sell, or withdraw.

Choosing Copy Trading Platform

Automated is the full package and the one that FXTM Invest offers – you choose your traders and the strategies which best suit your risk profile. All positions and subsequent trading are replicated automatically. Out of this were born Etoro and Zulutrade who allowed traders to connect their personal trading accounts to their platform. BingX is a leader in the industry with no deposit fees and the lowest fees. It offers all these features of a regular crypto exchange and seamless crypto derivatives trading.

AvaTrade – Best Forex Copy Trading Platform

The variety of financial instruments offered by social brokers affects the level of diversification that may be achieved by traders and investors. Also, it may have a significant effect on their earning potential because a wider variety of tradable instruments could present more opportunities to profit from. Although a user-friendly design is a matter of personal preference and routine, there are several features that all brokers agree are vital to their profession. Typically, the leading financial services interface and customer relationship management, also known as CRM, have often acted as different entities with minimal or no connection. The incentive programs encourage traders to trade publicly rather than privately by letting others watch and duplicate their deals.

Choosing Copy Trading Platform

In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. You can set rules to lock profit, update Stop/Limit for selected trades, close profitable trades or notify you of any significant changes on the markets. You don’t need to know everything about USD/Bitcoin or even the global markets to start your trading journey. You simply follow the Traders who have experience with the markets and when they do well, you do well. It is important to note that the minimum investment for copy traders is $500, regardless of your place of residence.

Social Trading Platform Tools

Just ask him, as most of the traders are open for discussion and will reply to your questions. However, this might depend on whether the signal provider is a long term or short term trader. All the information contained on our website is published in good faith and for general information purposes only.

They also guarantee zero slippage or requotes of Forex pairs. Pepperstone is an Australian-based Forex and CFD broker founded in 2010. They are regulated across the globe by ASIC, CySEC, FCA, SCB, DFSA, BaFin, and CMA. If you’re ready to start exploring VPS trading with FXTM, contact your dedicated Account Service Manager who will be more than happy to help. Currency ticker symbols are used in the forex market to represent the pair that is being traded. A currency, such as the dollar, is never bought or sold in absolute terms, but always in relation to another.

Because the risk factor is high in the foreign exchange market trading, only genuine «risk» funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Profit sharing accounts are subject to a monthly performance fee per selected trading system.

Copy trading platform

Any other currency will have to be converted and, therefore, will incur a conversion fee. AvaSocial – Connect with your peers and automate your trades. It іѕ аlѕо іmроrtаnt thаt уоu lеаrn hоw tо рrореrlу mаnаgе rіѕkѕ, аnd thе rіght wау оf аllосаtіng уоur саріtаl. Yоu ѕhоuld аlwауѕ knоw thаt аѕ thе numbеr оf trаdеrѕ уоu сhооѕе іnсrеаѕеѕ, ѕо dоеѕ thе numbеr оf trаdеѕ thе ѕуѕtеm wіll bе mаkіng оn уоur bеhаlf. Onе оftеn оvеrlооkеd mіѕtаkе оf trаdеrѕ whо аrе nеw tо copy trading іѕ thаt thеу dо nоt hаvе еnоugh саріtаl іn рlасе tо mаtсh thе аmоunt uѕеd bу thе trаdеrѕ thеу fоllоw.

What are the Benefits of Copy Trading?

In the case of the expert trader, he can gain followers, make a name for himself and also earn a commission for every successful trade from his followers. As for those copying his trades — if the trades are successful, they make a passive income. You can close this investment and stop copying their Copy Trading traders at any time. While there is no need to keep an eye on your copy investment because the trader you are copying is already doing that, you may choose to stop copying their investments. Of course, it’s important to use a signal service that gets more successful than unsuccessful trades.

A Year-End Shiba Inu (SHIB) Price Rally Might Be on the Horizon

Meaning, that they will offer a social component to the trader community, where they can communicate and share investment ideas and strategies. Buy, store, sell and trade major cryptocurrencies, all in one solution. Explore all the major cryptocurrencies on NAGA Exchange and store the ones you bought on your NAGA Wallet.

Moral of the story; Popularity is a reasonable point to start when looking for a decent signal provider but is by no means a recipe for success in social trading. There are numerous accounts of traders in the top 10 or even editor’s choice list who lost nearly all their account balances and with it their copiers’ allocation. You might want to dig deeper into your analysis before picking a signal provider.

So while the actions of closing and opening positions will show up on your feed, there will be no record of closed positions to be viewed later for each individual trader. Instead, past data gets agglomerated into statistics, usually represented through various charts and graphs, to make it easier for you to measure each trader’s performance. This is where things get slightly tricky because this type of data can be presented in a million different ways, some of them highly misleading. Retail brokers like eToro and Avatrade use proprietary trading platforms to execute trade orders. Various other platforms utilize copy-trading software, the most popular of which is MetaTrader 4 and MetaTrader 5 (MT4 & MT5).

The advantages of copy trading are the reason it has become so popular. Get up-to-speed with this exciting social phenomenon which is as simple as it sounds. A smooth equity curve without large drawdowns is more important than fast growth . This eToro trader has an equity curve that looks pretty attractive in our view—a screenshot from eToro.

EToro started operating in 2007 with the mission to provide fee-free trading services to people without trading experience. Nowadays, eToro is one of the leading platforms for forex trading, allowing users to trade various assets, including commodities, stocks, cryptocurrencies, and more. It is rare, for example, for social trading platforms to display a user’s entire trade-by-trade trading history since it would be too cumbersome to scroll through.

Published inFinTech