This is because your chosen trader will perform all of the required research and analysis, and then place the required orders. However, there is no guarantee that you will make money when copy trading. After all, if the trader that you are copying loses money, so will you.

You are following the top trader and therefore, are less likely to lose money. Copying them is not a guaranteed profit every time; even they can lose trades occasionally. It may be from a percentage of copier’s profits or a fixed income.

The price you can buy at and the one you may sell at are both listed on the spread betting ticket. Your choice to go long or go short on a financial instrument is available on every trading ticket. You could open a long position if you thought the value of the market was likely to increase and vice versa for a short position. However, there can be no guarantee of how any signal copying service will perform. Past results are not an indication of what will happen in the future. A trader who is having a good streak at the moment, may hit a rough patch.

Choosing Copy Trading Platform

FXTM is regulated by the FCA, the CySEC, and the FSC, among others. The fee structure based on commissions is still one of the most benevolent to traders among all brokers. Also, FXTM places a high value on education, and as such, it provides a wide range of educational materials to its consumers. Both the expert trader and the follower trader benefit from the copy trading feature. 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.

Copy Trading: Can You Make Money From It?

Copy trading allows traders to mimic the trading actions of a more experienced trader. You can choose from a range of established traders and then benefit from their experience and knowledge by mimicking their trading movements. Read on to discover how to choose the right copy trading platform for your next investment. I’ve spent over a decade testing and reviewing various copy trading services to separate the scams from the genuine investment opportunities.

Meta Trader 5 is a powerful platform for Forex and Exchange markets. This best forex copy trade service provider uses the MQL5 language, the automated trading software that runs on your computer and trades on behalf of you. 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. BingX is a copy trading platform with over 1 million users within 100+ regions, BingX provides over 100 cryptos ranging from Bitcoin, Ethereum, Dogecoin, Safemoon to Solana, etc. Users can use a demo account for copy trading to reduce the risks. Using key indicators like trader’s Account Assets, Cumulative P&L, 30D Profit Rate, Max.

If you don’t have the time or skills to trade and want to copy trading signals, you should look for a social trading platform. The platforms built-in trading tools can be useful to assist you with filtering signal providers, adding/removing signals, analysing markets, managing account and more. Most social trading platforms will contain some important tools for searching and analysing the different trading signals that they offer. Check that these tools are freely available and sufficient enough to filter results according to your own requirements. Some users may need more specific statistics compared to others who might just want to see the overall profits and drawdowns. You may also require a specific tool that is important to enhance your personal social trading experience.

The platform also has a strong customer support team that can help answer any questions you may have over the live chat. Crypto copy trading is a type of investing where you copy the trades of other already profitable traders. This works by connecting two traders where one is the performing trader and the other is the copy trader. Once a trader is copied, all his trades will be mirrored on the other account, automatically. You can start out copying top traders at FXTM with a minimum deposit as low as $100. ZuluTrade supports over 40 forex brokers, one of which being their integrated solution .

You can choose from a debit/credit card or e-wallet if you wish the deposit to be processed instantly. Alternatively, you can transfer funds from your bank account, but this might take several days to arrive. For example, if the trader has an average trade duration of 6 months – then you know that they are a long-term buy and hold investor. If the individual has an average trade duration of just 5 hours, then you know they are a day trader. To give you an idea of some of the strategies offered by Duplitrade, one option that you might consider is the ‘Major’ system.

Crypto Products

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. Pepperstone is an Australian online forex and CFD broker that offers trading in over 60 currency pairs, commodities, indices, and equities. It was founded in 2010 by a group of traders with extensive experience in global financial markets. They created a platform from traders to traders to make online trading accessible to everyone. You can find and assess traders, pick those that match your financial goals, and copy their strategies automatically in real time. This copy trading app enables you to choose one or more traders based on various criteria like their profits, number of followers, and risk level.

The webpage support multiple languages, including English, Turkish, Hindi, etc. Equally amazing is the margin offered by to multiply its users’ earnings. CopyMe is a great copy trading platform that’s perfect for anyone looking to copy successful crypto trading strategies. The U.S.-based platform can what is copytrading be used to tap into the minds of trading professionals and effortlessly apply their strategies. It offers newbies and passive investors a way to profit from crypto markets without really having to do anything at all. Drawdown means how much money the trader lost before they started turning profits again.

  • There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.
  • Firstly, this platform provides users with a social network that offers copy trading and counter trading functionalities.
  • Once you have chosen an investment strategy to follow, you can then set up risk-management tools to suit your financial goals.
  • This implies that by replicating the transactions of several suppliers, you may enhance your profit potential.
  • Leverage increases the earnings potential drastically through borrowed capital but can also cause much larger drawdowns to your capital.
  • This includes the end-to-end process of analyzing the markets, performing research, and placing orders.

EToro is also praised as the best social trading platform with the largest network of users. At the time of writing our eToro copy trading review, this trading platform had 25 million active social trading users. If you want to try social trading with eToro copy trading, you’ll need to sign up for an eToro account and place a deposit of $10 or more. With Darwinex, signal providers can create automated trading strategies, which can then be copied by followers. Other assets come with a commission that typically sits below 0.1% per slide. The minimum deposit is $100 at Libertex and you can fund your account with a debit/credit card, e-wallet, or bank account transfer.

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However, some of the more popular platforms are AvaTrade, eToro, and ZuluTrade. Each of these platforms has its unique features and benefits, so it’s important to do your research before deciding which one is right for you. There is no guarantee that the traders you copy will be successful in the future, so it’s essential to weigh your options carefully. How and where the offers appear on the site can vary according to the partnership terms.

Choosing Copy Trading Platform

Type of service – As we’ve already discussed, there are a few different types of copy trading service available. These include signal services which send you an alert whenever your selected trader makes a trade or fully automated services which act automatically on your behalf. Although Darwinex offers a demo account, a minimum deposit of $500 is required to open a real account.

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So, if you’re brand-new to the crypto trading game and are short on time , definitely check out this platform. Successfully trading crypto often requires many hours of time and research. It seems like everyone is investing and trading crypto right now, and some are striking it rich. However, buying and selling crypto successfully involves a lot of research, practice and moving parts.

TechBerry is a social trading platform that uses Forex data from over 100,000 professional traders. It has been in operation since 2015, with an average monthly performance of 11.2 percent. The platform includes a reimbursement policy that can cover up to 100% of losses. Traders can use the service on a subscription basis, with prices starting at $19 per year. This means that if you find a strategy you really like, but want greater risk control, you can treat the platform more like a signals provider.

WunderTrading is a platform that offers a straightforward environment to its users to access features like social trading and copy trading with transparency, safety and low fees. We picked platforms with filters that will help you find the traders that perfectly fit your needs. You can search traders by profits, investment risk, number of followers, and other criteria. The platform should allow you to choose as many traders as you want to copy and allocate your funds the way you want.

Signal providers are usually compensated for the trading activity they bring to the broker who is providing the platform. Some will also get a success fee depending on how well their trading signals perform. Once you copy another trader you will automatically take the same trades as they do and you will realize the same results as that trader. This is done on a crypto copy trading platform such as Bityard and BingX where traders meet on a marketplace to advertise themselves and let other traders copy them. The trader with the best and most stable track record usually gets the biggest following and makes the most money. All investors who follow that trader also make the same amount of money except for a small revenue share that is deducted from your winnings and given to the trader as a reward.

Choosing Copy Trading Platform

With that said, it’s also worth using the Libertex demo account facility first and then linking this to MT4. In doing so, you can test your chosen forex EA out in a risk-free manner. Once you have connected your ZuluTrade account with AvaTrade, met the minimum deposit of £500, and selected a trader to copy – there is nothing else for you to do. That is to say, your chosen trader will continue to buy and sell assets – and any profits or losses will be reflected in your own account.

What Are The Benefits Of Copy Trading?

Also, stay away from traders who forget to use the Stop Loss function – this is a key principle of risk management. As always, in investing and trading, there is an inverse relationship between risk and expected returns. However, if you ask us, we’d recommend choosing a risk level between 0 to 5, depending on how conservative you want to be in your approach. You want to go with someone who has had a consistent rise in profit for a while.

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The assets available include currency pairs, digital currencies, commodities, indices, stocks, energies, metals, CFDs, and shares. In foreign exchange alone, you have more than 60 choices made up of major, minor, and exotic pairs. You can also trade four major digital currencies, namely Bitcoin, Litecoin, Ethereum, and Ripple. To become a copy trader, you must apply for a trader status on the mobile app or web platform or reach out to its customer service. The trader status can be applied after meeting the following conditions. Firstly, when deposits are higher than 500 USDT and the number of orders are greater than 5.

Tip 2 Check The Statistics Of Traders

You can also view the average number of days or weeks the trader keeps a position open and what their maximum drawdown is. Crucially, this allows you to spend some time assessing whether or not the investor has what it takes to trade on your behalf. Once you have opened an account, you will then have access to tens of thousands of verified traders that have signed up for the copy trading program. To ensure you are able to find a suitable trader, eToro offers a useful filter system. For example, you can narrow your search results down by average annual gains, preferred asset class, average trade duration, and more. is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation.

Additionally, you need to understand what fees and commissions you will need to pay to copy trade – and what financial markets you will have access to. It’s crucial to take a close, hard look at the broker’s trading platform when selecting one. You could benefit from a transparent, straightforward platform to trade with mobile and desktop applications guaranteeing quick, dependable execution.

Step 4 Close The Investments At Any Time

Clients choose how much money to devote to mirroring a specific trader and have the option of copying several providers at the same time. Since its inception, following trades from other investors have seen a major revolution. There are no limits in mimicking executions from other market participants. Investors can copy forex, stocks, futures, options, etc., in a blink of an eye. It potentially allows new traders to generate a handsome income on their portfolios without any financial experience. The platform also allows you to adjust your risk and exposure levels, so you’re not completely dependent on another trader’s activity.