Best copy trading platforms 2022
Cryptocurrency offers relatively new opportunities for growth in the financial industry, along with volatility. Several companies are now offering Copy Trade services for popular cryptocurrencies such as Litecoin, Ethereum, and Bitcoin.
Copy trading platforms let investors copy professional traders. The best trader's investments are replicated in the user's portfolio, allowing for passive trading.
It provides a simple way for new investors to get started in the markets and for experienced investors to diversify into new asset classes or strategies. Take a look at the best copy trading platforms listed below.
List of Top 12 Copy Trading Platforms
Copy trading Cryptocurrencies
Crypto copy trading is an excellent pick if you're new to the cryptocurrency market because crypto trading consumes a lot of effort and research. For instance, you must process trades and monitor the industry using technical analysis. Such skills and research take time to develop.
Many traders use copy trading as it helps in making money with little energy and cost. However, with the wrong strategies, investor accounts lose money when trading. It's one of the reasons we've compiled a list of the best copy trading platforms for traders.
So, what exactly is "copy trading" all about?
Copy trading is when you automatically do the same thing as other traders when they open or close a trade. You can learn to trade by joining an online forum and learning from others who have already mastered a particular strategy.
It is a way to make money by buying and selling assets in different financial markets. This includes buying and selling FX and CFDs on Stocks, Commodities, Indices, and Cryptocurrencies. You can also do this with bitcoins (BTC).
Mirror trading vs. copy trading
There are different ways to copy trade. With mirror trading, you have to follow each signal without any manual input. But with copy trading, you can select the trader whose trading activities you want to copy. There are a few best copy trading platforms we will discuss below.
Crypto trading: How does copy trading work & How to get started?
Copy trading lets you invest like traders who have already made fruitful investments. So, it can help you if you want to trade but don't know how to start. You can find a platform that has different assets and features.
Then, you can research the traders and decide who to follow. You can also customize how much risk you want to take on and what signals you want to copy.
Consider a trader's history and performance before following them. Also, think about the fees associated with copying them. Some platforms charge a percentage of profits, others a flat fee.