Copy Trading Revolution: 10 Best Platform to Start With

Copy trading is the easiest way to dive into the riskiest trading market as you don’t need any skills or expertise to copy something. However, it is also known as mirror trading, sometimes social trading, or auto trading. The idea of copy trading is not new; it has been in the industry for years. However, with the recent boom of social media, copy trades got new attention.

Additionally, the adaption of new tech in forex trading makes the copying of a strategy easier. To get success, there is no alternative to finding good forex trading platforms to initiate your copy trades. So, which platform should you trade with?

Read on to get to know the answer as we have listed 10 copy trading platforms that are providing the best service for several years.

The copy-trading idea is a child’s play. You just need to use the technology to copy live forex signals or forex trade, which is available on the platform. Usually, the signals are provided by other successful investors. So, you can follow the top traders on your platform to replicate their trading automatically.

10 Copy Trading Platforms You Should Try

The best forex broker with a copy trading platform can be your savior for online trading. However, researching and finding the best one is risky, especially if you are a newbie. Sometimes an expert trader feels it difficult too as they cannot allow enough time. To help both types of traders out, we did research to make a list of copy trading platforms, which can uplift your profit.

HotForex

Multiple account types with software and tools make the copy trading smooth. Being in the industry for a long time, HotForex is gaining popularity recently through their commitment.

You will get low to average spreads on most of the pairs. However, they don’t charge for a deposit or withdrawal. But the account opening process is a little bit tricky. The combination of different spreads and commissions can get you relief as you will have the opportunity to choose from different combination types.

FBS

FBS is the underrated best forex broker in the world, which operates in more than 190 countries. However, they have been active in the trading industry since 2009. Initially started in Blaze, then got the regulatory status from CySEC too. FBS operates as MetaTrader 4 as well as MetaTrader 5 forex brokers. Apart from copy trade MT4, their own platform, “FBS Trader,” also provide top-notch trading service. However, the extremely low minimum deposit surely encourages anyone to trade. The minimum deposit starts from $1 globally and €10 for the Europeans.

FXTM

FXTM is known for its high-end customer support. However, they are well experienced for copy trades, too, as they have a dedicated service for copy trading, which has been offered since 2011, which is known as FXTM Invest.

FXTM invest service allows you to copy trade via the MT4 trading platform, which you can start with a minimum deposit of $100. Moreover, you can trade via mobile and web browsers to ease the trading.

Forex broker reviews show that FXTM provides support in multiple languages 24/7 day, which is great as most of the brokers don’t provide customer service for all 7 days.

ZuluTrade

ZuluTrade holds the largest trading network in terms of a total number of traders as well as investors. However, it allows the traders to complete a level of automation, which helps to copy other’s trading strategies.

However, to take the ZuluTrade platform service, you will need to open a trading account with a Zulu approved broker. So, the account opening option with multiple traders indicates that the minimum deposit could be any amount, which is between $1 to $300. The brokers listed for ZuluTrade are also considered as MetaTrader 4 forex brokers.

One of the best features of ZuluTrade is, you can rank the strategy provided according to some criteria and choose the best one to copy the trades.

eToro

I bet every expert trader would agree that he is one of the pioneers of copy trading. They have been leading the industry for many years with their service quality and experience. Besides, the membership from the trusted regulations also kept them ahead.

eToro’s web-based copy trade forex features the most user-friendly interface, which also hosts other features. The extra features include a wide range of indicators and trading tools, which made the copy trading simple. So, novice traders will find it easy and copy other’s strategies like an expert. However, you need a minimum $200 balance to get started with eToro, and you can fund through some convenient methods.

NAGA

NAGA

Unlike other best forex brokers, NAGA doesn’t charge or is forced to register anyone to see their top traders. Transparency is their ultimate priority; as a result, they keep the monthly leaderboard open. On the leaderboard page, they publish all the strategy providers with their earned profit. So, you can see everything without opening an account.

If you are convinced after looking at the list and the earning figures, you may register and deposit money to start your trading. You may follow the trader you would like to copy. NAGA provides auto-copy service via copy trade MT4, which ensures that you will get access to MetaTrader 4 too. In addition to that, you will get access to 11 indices, 40+ forex pairs, 681 Stocks, more than 10 cryptos, 17 ETFs, and 22 futures.

Darwinex

Darwinex has made its platform unique with the invention of “Darwin.” It simply tied with the traders and the underlying in the platform, which sorts out a trader with his trading performance. With Darwinex, you don’t need to wonder which trader you should choose for copy trade forex. As an investor, you will trade Darwins, which makes social trading and copy trading simple. Through this process, Darwin’s strategy gets copied automatically. However, if Darwin’s strategy gets copied, he or she will earn performance fees.

With Darwinex, you will get to trade stock, FX, commodities, crypto, and index. However, before starting all, you may open a demo account too.

AvaTrade

Among all the platforms we are discussing here, AvaTrade is the most regulated one as it has regulatory membership from 6 different jurisdictions. Besides, they offer a variety of trading instruments that you can copy.

However, AvaTrade supports an easy and fast account opening process along with free deposit and withdrawal methods. Additionally, you won’t need to pay any fees for withdrawals regardless of the amount. The only drawback, which may demotivate you is the inactivity fees. The term and conditions on account inactivity are strict, as they charge $50 if the account is inactive for more than 3 months.

Tradency

Tradency is a platform provider that creates and sells platforms for trading to brokers worldwide. So, you need to open an account with a broker to access Trandency. However, it is not available to all the brokers except a few selected brokers, which are given on Trandency’s website.

The best feature of Trandency is, it can mirror or copy a strategy that you select to copy from other traders. Additionally, they also provide semi mirroring, which gives more control on selecting the copy trades.

OctaFX

OctaFX is an award-winning platform, which offers a very low spread. However, they are a prime provider of CFDs as well as forex, operating in 100+ countries.

OctaFX provides its copy trading service via MetaTrader 5 Pro and cTrader. However, you can try a demo account using these two platforms. Additionally, OctaFX offers bonuses on every deposit, so you can earn extra profit from your trading. Additionally, they don’t charge commissions on deposits or even withdrawals. The only drawback OctaFX has is, they offer limited trading instruments.

Conclusion

When you hear about copy trading, it may seem easy and profitable. But, the truth is, it has some risks, too, as the price can change any time, and a split second can burn down your portfolio. However, still, it is less risky than trading on your own if you are a newbie. In copy trades, you can protect the potential loss through a proper asset allocation strategy, which can guide you to make several investment strategies.

Any of these top 10 forex brokers platforms can get you through excellent asset allocation. So, you won’t regret it after trying them for copy trading.