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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 LitecoinEthereum, 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

NAGA logo - DCA Profit

NAGA

Demo Account

Yes

Minimum Deposit 

250$

Trading assets

Forex, CFDs, indices, shares, commodities, cryptos


eToro Logo - DCA Profit

eToro

Demo Account 

Yes

Minimum Deposit

$50

Trading assets

Crypto, CFD, Stocks, ETF


PrimeXBT logo - DCA Profit

PrimeXBT

Demo Account Yes

Minimum Deposit 

$50

Trading assets

Forex, indices, commodities, cryptos.


AvaTrade logo - DCA Profit

AvaTrade

Demo Account Yes

Minimum Deposit 

$100

Trading assets

Forex, Cryptos, Stocks, Commodities, Futures, Indices, Bonds, ETF.


BingX Logo - DCA Profit

BingX

Demo Account Yes

Minimum Deposit 

$0

Trading assets

Crypto, Forex , commodities and indices


ZuluTrade logo - DCA Profit

ZuluTrade

Demo Account Yes

Minimum Deposit 

$200

Trading assets

Forex, Cryptos, Stocks, Commodities


FXTM logo - DCA Profit

FXTM

Demo Account Yes

Minimum Deposit 

$10

Trading assets

Forex, Cryptos, Stocks Indices, Commodities, Metals


Pepperstone cTrader - DCA Profit

Pepperstone cTrader

Demo Account Yes

Minimum Deposit 

Depends on the third-party broker

Trading assets

Forex, stocks, ETFs, indices, metals, oil


MetaTrader 5 logo - DCA Profit

MetaTrader 5

Demo Account Yes

Minimum Deposit 

N/A 

Trading assets

Forex, Stocks, Cryptos


FP Markets logo - DCA Profit

FP Markets

Demo Account Yes

Minimum Deposit 

100$

Trading assets

Trade Forex, Gold, Oil, Indices & more


Bitget Logo - DCA Profit

Bitget

Demo Account Yes

Minimum Deposit 

$10

Trading assets

Cryptocurrencies (Choose among 13k+ elite traders)


Gate.io Logo - DCA Profit

Gate.io

Demo Account Yes

Minimum Deposit 

0$

Trading assets

Popular cryptos and blockchain assets


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.

In simple words, firstly, find a copy trading broker. Then open a broker account, deposit money & just find a trader to copy.

Benefits of copy trading

An easy way to invest in the financial markets.
Copy trading can generate profits with less effort.
Automatically copy winning trades. Create an account and let the platform do the rest.
Learn from experienced traders and diversify your portfolio.
You can monitor multiple traders' performance and decide who to copy.
You can profit from market opportunities, and stop-losses and take-profits help you manage risk.
Copy trading platforms offer a variety of markets and strategies so you can meet your investment goals.
Also, platforms let you monitor and manage your investments to stay on top of the markets.

Risks of copy trading

When copy trading, you trust the copied person or platform. Bad trades cost money.
Volatile markets move quickly. Unstable investments can quickly lead to losses.
Most copy trading platforms offer leverage, so you can trade more. If the market moves against you, you'll lose money.
Copy trading platforms charge a percentage of profits. If the person you're copying isn't successful, you may lose money.
If you copy someone willing to take more risks than you are, you could lose money.
Unreliable sources of trade have cost people money. Before copying someone's trade, do research.
When you need it, the platform may not be available or work properly.

Utilize the Best Copy Trading Strategies for you

Choosing a copy trading strategy requires some study. Finding a strategy that fits your investment plans and risk tolerance is vital. Automated copy trading is possible, along with manual copy trading.

Also, there are different copy trading strategies, such as long-term or short-term investing, trend following, or mean reversion. Identifying if your trading strategy matches other vendors' is crucial. It would prevent excessive risk-taking.

You can find a copy trading strategy that works for you by trying different approaches. It's also essential to monitor and adjust your strategy. Copy trading beginners should start small and gradually increase their investment size as they become more confident. 

Choose the right Crypto Copy Trading Software

When choosing the best copy trading platform or software, let's look at some things to consider.

Ease of use: The forum should be easy to use for new traders.

Asset selection: The platform should offer a variety of assets to diversify your copying portfolio.

The Size of trader network: An extensive trader network shows that many people have benefited from the software. A smaller trader's network can also be sufficient, but it's likely new.

Fees: Some crypto copy trading software is free, but others cut your profits. The platform should have low or no trading fees.

Reliability: The platform should be consistent and reliable. The best way to check software reliability is to read online reviews. Avoid software with too many negative reviews.

Crypto exchanges it supports: Identify if you use the exchanges it supports. You don't want crypto copy trading software incompatible with your cryptocurrency exchanges.

Reputation: The platform should be well-known among traders.

Safety and security: A safe and secure platform with anti-fraud solid safeguards for your account and personal information.

Regulation: A reputable financial authority should regulate the platform.

Demo/ Trial account: A demo account for you to test out before investing real money.

Languages supported: The platform should support your language so that you can use it without difficulty.

Countries that are supported: The platform should be available in your country.

We will discuss the best copy trading platforms we have chosen for you below.

Best Copy Trading Platforms Reviewed

You must understand where your target market can be found. The most dependable copy trading platform is listed below. These platforms offer numerous features and advantages.

Some notable copy trading apps

1.     NAGA

Naga is a copy trading platform founded in 2015. However, it has gained a strong following among traders, especially in Europe. More than 500,000 traders use the NAGA platform. Over 950 assets are on NAGA's platform.

Naga copy trading service copies your trades automatically. It helps you find other investor's stats on the leader board and copy them for the most profit.

Naga is famous because it's easy to use. Even first-time traders will find the platform easy to use. It has different features and tools to help traders make decisions.

Best features

Learning, Copy trading video courses.
Withdrawal methods involve bank transfers, cards, Sofort, Neteller, Skrill, and cryptocurrencies.
Over 1000 financial instruments are tradeable.
Earnings for strategy providers.
Adjust the trade's investment amount and other details.
Follow industry news, check broker's public channels, and message other traders.
Low copy trading fees and good support.
Copy-trader leaderboard
NAGA home page - Best copy trading platforms - DCA Profit

Drawbacks

Fees for withdrawals
Ongoing service charges

2.   eToro

Because of the useful features it provides, eToro is also one of the best copy trading platforms. It allows copying successful traders in the eToro community. Users can interact and learn from each other's trading strategies on eToro.

It offers a variety of capital market tools. Invest in cryptocurrencies, stocks, commodities, ETFs, and more.

eToro lets you trade in a demo account before using real money. It is a great way to test the platform and ensure you like it.

Disclaimer: 68% of retail CFD accounts/ retail investor accounts lose their money on eToro when trading CFDs. Consider if you can risk losing money.

Best features

Mobile iOS, Android, web, and PC platforms.
Copy other investors' trading strategies.
Many investors copy & Wide range of markets
Users can trade and learn from each other.
Multiple capital market tools are available.
An easy-to-use interface for new and pro traders.
Live market news, economic calendar, and more
eToro - Best copy trading platforms - DCA Profit

Drawbacks

No auto-trading.
Not equipped with MetaTrader.

3.   PrimeXBT

PrimeXBT is an excellent copy trading platform. It's a fully-fledged trading platform so that you can do more than copy trade on PrimeXBT. It assists professional investors in monetizing their skills by enabling others to copy their techniques.

They provide high liquidity and tight spreads across all markets. Spreads start as low as 0 on Bitcoin, Ethereum, Litecoin, Ripple (XRP)EOSCordanoPolkadotUniswapChainlink, and Dogecoin.

PrimeXBT is excellent for both experienced and new copy traders.

Best features

Set stop loss/take profit.
Access to 100 trading tools and markets on one platform.
High leverage and volume.
Margin trades cryptocurrencies and traditional assets.
Cut risks and diversify your portfolio.
It lets you trade easily and quickly like a pro.
PrimeXBT - Best copy trading platforms - DCA Profit

Drawbacks

Deposits via BTC, ETH, USDC or USDT only
Lack of educational material, for instance.

4.   AvaTrade

Ava Trade has been around for over 10 years and consistently provides excellent service. This platform offers CFDs on 1,250 instruments. AvaTrade doesn't support copy trading but integrates with third-party providers.

ZuluTrade and DupliTrade are included. The user has to pick a provider and investor to copy. Both third-party platforms let users copy seasoned investors' trades with a click. AvaTrade requires an account and a $100 deposit.

The platform can combine copy trading with a personalized strategy. It offers 0% commission and competitive spreads on trading CFDs. Before trading Forex, read the AvaTrade risk disclosure.

Best features

Best globally regulated forex copy broker.
Automated social trading.
Mirror Trader, ZuluTrade, Web Trader, mobile apps.
44 forex options, 1,200 CFDs, 24/7 Crypto CFD trading
Join trading groups and ask experts questions.
MetaTrader Signals offers free and paid signals.
They accept bank transfers, PayPal, and credit cards.
Social trading lets new traders copy experienced ones.
AvaTrade - Best copy trading platforms - DCA Profit

Drawbacks

Slow desktop platform.
Average retail pricing, but not as good as others.

5.   BingX

BingX is a global crypto social trading exchange that offers simple, easy-to-use, and competent trading products and services.

BingX's Automatic Copy Trading function is unique. This tool lets traders copy expert trades with one click. The copy trading supports DeFi, NFT, Indices, Commodities, Forex, and Layer2.

It lets users trade cryptos like BTC, ETH, AXS, Safemoon, USDT, and Dogecoin. It provides a secure platform to buy, sell, and trade Crypto safely.

Best features

Offers social/copy trading & copy trading pro.
Trading automaton
Traders can discuss via a feed.
24/7 trading & demo trades.
Enables credit card crypto purchases.
Support a diverse portfolio of cryptocurrencies.
Low 0.045% trade fee.
BingX - Best copy trading platforms - DCA Profit

Drawbacks

Fiat currency withdraw not supported

6.   ZuluTrade

Similar to eToro, you must find an experienced trader who matches your financial goals. You can choose from more than 10,000 ZuluTrade investors.

It is an easy-to-use copy-trading platform. Because opening an account and depositing funds takes minutes, you can start copy trading immediately.

ZuluTrade isn't regulated like eToro. You need to link your ZuluTrade account to a broker such as AvaTrade. The platform supports ZuluTrade and allows commission-free trading in thousands of markets. 

Best features

Crypto auto trading is available with AutoTrade
Social crypto trading via ZuluTrade, scripts, and APIs.
Nice platform and UI & Plenty of traders to copy.
Crypto, CFDs, stocks, forex, commodities, and 40 other assets are available.
The minimum trade is $1, and the fee is 0.045%.
Check each follower's profits on a given trader.
Supports MT4 and MT5.
iOS and Android apps plus web version.
For experienced and inexperienced investors, best risk management.
ZuluTrade - Best copy trading platforms - DCA Profit

Drawbacks

For investors, the trader compensation model is not ideal.

7.   FXTM

FXTM is a forex and CFD copy trading platform. This 2011 platform dominates copy and social trading. Also, being an active ECN broker in Asian and African marketplaces, they offer many account types.

It hosts clients on broker platforms for social trading. Social trading lets you use trading signals and pay the source. You pay the strategy providers if you win.

You can utilize FXTM Invest to search for and copy traders who match your targets. Profit growth, risk level, amount of capital managed, and returns can help you choose traders.

Best features

Support for MT4, MT5, and FTXM Trader.
Available on iOS, Android, and Windows.
Social trade forex, indices, stocks, spot metals gold and silver, CFDs.
Spreads can be 0 pips and trading education for users.
Trade up to 4 crypto pairs with 20-pip Bitcoin spreads.
FCA regulation and high-quality market research.
Quick Deposit/Withdrawal.
24/7 customer service, Fee report & no deposit, and Numerous accounts.
FXTM - Best copy trading platforms - DCA Profit

Drawbacks

Pricing is slightly higher than the industry average.
A limited number of tradeable markets

8.   Pepperstone cTrader

cTrader is a third-party option that must be linked to a broker. Pepperstone is the most efficient copy trading platform in this regard.

It is a community where experienced traders can share their strategies, and they can be copied.

The strategy broadcaster earns a commission while newbies trade fully automatically. After choosing an investment strategy, you can set up risk-management tools to meet your goals.

Best features

The app allows multi-asset trading.
Configurable mobile trading settings.
QuickTrade one-click charts.
Technical indicators and diagrams.
Price alerts when reached.
Copy-Trading 23-language support
Copyable tips and demo trading is free.
Pepperstone cTrader - Best copy trading platforms - DCA Profit

Drawbacks

It does not provide brokerage services.
The most effective strategies necessitate payment.
Copying a strategy on cTrader may incur two fees.

9.   MetaTrader 5

Our another choice among the best copy trading platforms is MetaTrader 5. Meta Trade 5 is an exchange and Forex platform. This forex copy trade provider employs MQL5, an automated trading framework that runs on your device and executes trades on your behalf.

This copy trading service lets you simultaneously open 100 currency or stock charts. The 21 timeframes facilitate the complete analysis of minor price changes.

MetaTrader 5 is available on desktop, web-based, and mobile apps. 

Best features

Better interface and graphs.
It's a good copy trade platform with new order quotes.
Simple data-saving and trade manipulation.
Great visuals, color, and timeline.
The platform includes an economic calendar.
Copy trading app supports 21 timeframes and 8 pending orders.
Analytical tools and investment options.
MetaTrader 5 - Best copy trading platforms - DCA Profit

Drawbacks

Exchange-market hedging is disabled.
Beginners may be troubled by advanced features.

10.   FP Markets

ASIC-regulated FP markets launched in 2005. For most traders, this broker's main selling point is its diverse variety of tradable assets.

Ffmarkets offers 11 equity indices, 60 Forex pairs, major precious metals, and five cryptos, including Bitcoin. FP markets hybrid ECN/STP execution model lets clients choose between fast ECN and "natural" spreads.

Best features

FP Markets' Android app combines MT4 and MT5.
Various trading platforms and online tools to choose from.
Excellent asset selection and cost structure.
Relatively low execution reduces slowdown.
VPS enables algorithmic trading.
128-bit encryption, one-click trading.
Trustworthy and well-regulated.
FP Markets - Best copy trading platforms - DCA Profit

Drawbacks

Geographical availability is limited.

11.   Bitget

Bitget is one of the best copy trading platforms in the cryptocurrency market. The Bitget lets you trade 100+ cryptocurrencies, including top ones.

With just one click, align your portfolio with the positions of experienced traders. Can choose 13k+ elite traders to get incredible benefits.

Best features

Spot, derivative, and copy trading. Bitget lets you trade 100+ cryptos. 
Contract products: USDT- and coin-margined futures.
One-click syncing with professional traders' positions.
USDT-Margined Futures with 35+ cryptocurrencies.
Users can win project tokens by holding crypto assets or trading.
Cryptos include Bitcoin, Polkadot, Bitcoin Cash, Shiba Inu, Dogecoin, Tron, Uniswap, Polygon, and Filecoin.
Copy Trade for beginners & powerful trading tools for experts.
24/7 customer support.
Bitget - Best copy trading platforms - DCA Profit

Drawbacks

Fewer assets to trade

12.   Gate.io

Gate.io is a relatively new but well-known crypto exchange founded in 2013. Gate.io is accessible to traders worldwide, including in the U.S. It offers 1,600+ spot crypto trading pairs and 33 futures copy trading pairs.

Gate.io's ability to increase user earnings is impressive. There is no deposit, low trading, and a low withdrawal fee.

Best features

It's accessible worldwide.
Deposit and withdraw instantly.
Easy-to-use copy trade & a large selection of trading pairs.
Innovative functions for pros.
Buy&sell limit orders, stop-loss/take-profit conditional orders.
Choose from the margin, spot, or perpetual contracts.
Customizable ticker, market, and blockchain alerts.
Gate.io - Best copy trading platforms - DCA Profit

Drawbacks

The user interface could be improved.

The best way to use copy trading signals

1) The signal is not a rulebook. Because markets change, what works today may not work tomorrow.

2) Don't lose the money you can't afford. That is the main reason for people losing money rapidly. Use only money you can afford to lose to copy trade.

3) Patience is key. A buy or sell signal does not imply that you must act immediately. Wait, and don't let emotions interfere.

4) Use signals, but do your research. This way, you can make a good trade.

5) Planning for copy trading means deciding on goals, risk tolerance, and strategies. Success is hard without a plan, and the crypto market has a high risk of losing assets.

What is a copy trading software: Utilize the Copy trading apps

Copy trading lets you conduct objective and impartial financial market analysis. Beginners can copy the positions of experienced traders using copy trade software. Profitability can be increased with new opportunities by the best copy trading brokers.

Moreover, successful traders can profit from weekly or monthly trading in a brokerage account. However, those who are less experienced or are having trouble making money can copy their positions.

Logging on and monitoring the copy accounts on the copy trading app is simple. MetaTrader 5, eToro, and other well-known providers offer free mobile apps for IOS and Android smartphones. Users can use the installer to compare and analyze trading plans, fund bank accounts, and copy traded transfers.

Many of the platforms listed above offer free copy trading apps.

What is Social Trading?

Social trading lets investors monitor their peer's and experts' trading behavior. The goal is to copy or mirror their investment strategies. Simply put, "Social trading" involves copying other traders' strategies.

choose your image

Social trading vs. copy trading

Copy trading is a social trading subcategory that copies other investors' trades. Social trading platforms let you see other traders' investments, but copy trading makes your account copy theirs. Leading platforms now offer social trading as well. 

The idea is that users can trade in a social setting like LinkedIn or Facebook. Say a user wants to buy Bitcoin and explain why they did so. Others on the platform could see and like or comment on the post.

Copy Trading Signals

Indicators that market participants can use to take a position are signals. Copy trading offers less flexibility than signals. Prior to executing trades, you may also wish to modify trade size, stop loss, and take trading profits.

Once you receive the signal, you can modify your trading settings and parameters. MetaTrader 4 and MetaTrader 5 are two of the most famous signal providers, with thousands of best traders providing free and paid signals.

FAQs

Is copy trading a good idea?

Copy trading is an excellent idea to diversify your investment portfolio while also benefiting from the expert knowledge of other traders. It can be a perfect way to start trading because you can learn and copy more pro traders' strategies.

Do your research before you invest, and keep in mind that the past isn't always an ideal indicator of the future.

How to open a copy trading account?

Sign into a legitimate brokerage account to copy trades. Always review your broker's rules and regulations in advance. The trader must deposit money to invest. You may need to copy investments to your Live Account based on your platform.

Typically, the brokers offer guidance. Once you have a trading account, copy trading is simple. It's best if a broker provides videos beforehand.

How safe is copy trading?

Many experts believe that copy trading is a safe investment option because it allows investors to diversify their portfolios while minimizing risk.

However, blindly copying their every action without conducting your research could also prove damaging.

Is copy trading legal?

Yes, copy trading is legal in most countries if the service broker has the necessary licenses. However, some limitations might be in place, such as not being able to trade with leverage or copy specific trade types.

Can you make money copying trades?

Copy trading can be a lucrative investment. Your profit depends on the traders you follow and when you copy trades. Before choosing a trader, compare their earnings. Market old phrase says quick performance can't predict future results. Copy-trade is risky, and most traders lose money.

Does copy trading really work?

Copying successful traders is never a guarantee of success, but it may help them earn more than copying traders with a poor track record. Also, some traders struggle to acquire copy trades. The main thing to success is choosing the right strategies.

FAQs
Conclusion

Copy trading helps retail investors build and maintain a profitable portfolio by sharing market insights. All of the best copy trading platforms we've chosen for you above have mobile apps and demo accounts for users.

Top providers like eToro offer Copy Trading for Cryptocurrencies. AvaTrade offers numerous advantages, including a low deposit and fee copy trading app. Also, eToro and ZuluTrade enable users to invest in a number of different financial assets with low deposits.

Copy trading can be a safe and effective investment method as any investment involves risk. Do your research and only invest what you can afford to lose before investing.

Also, be aware of any restrictions in your country. Choose a regulated broker with a good reputation. That was all about the best copy trading platforms.