Copy trading is a popular strategy in Futures trading that allows traders to imitate or replicate other traders’ strategies and performance. This technique is advantageous for beginners who lack experience or time to develop their strategy, as well as for seasoned traders who want to diversify their portfolios or generate additional income.
Trade copiers are tools that facilitate copying trades between different accounts. The best trade copier tools enable traders to copy successful trades automatically and effortlessly in real time, leveraging low latency trading to ensure swift execution and minimize slippage. This leads to consistent profitability in Futures trading. In this guide, we’ll explore the best trade copiers on the market, outlining their key features, pros and cons, and pricing to help you find the one that suits your needs.
One of the best ways to boost your performance using a trade copier is to run your trading VPS. A VPS will help you execute trades faster and without interruptions to capitalize on profitable opportunities.
What Is Futures Copy Trading?
Futures copy trading lets you replicate the trades of other Futures traders to boost your performance. Instead of sifting through charts and analyzing trends to make profitable trades, you can simply copy the trades of seasoned investors. You do that whenever the trader you’re copying opens or closes a position.
This can be done manually, semi-automatically, or automatically, depending on your preference and the capabilities of the Futures copier you use. You can also do Futures copy trading by following the signals they send through social media, forums, or even in-app notifications.
These alerts tell you whether to buy or sell a particular asset. They also include other relevant information such as entry and exit points, stop-loss levels, and take-profit targets.
How does Futures Copy Trading Work?
Futures copy trading means what it sounds like; you essentially copy the strategies and deals of another, typically more experienced, trader.
However, it’s not that easy, and that friend who says they’re making thousands from Futures copy trading has either lost a good deal already, will lose a good deal soon, or genuinely has a good understanding and experience of the market.
To successfully pull off Futures copy trading, you will need experience, a solid understanding of the strategies used by the trader you’re copying, a reliable platform, such as MetaTrader, and, most importantly, a decent MetaTrader 4 trade copier.
But before we get the best trade copier tools, let’s answer these questions: What is copy trading? How does a Futures copier work?
What Is Copy Trading, and How Does It Work?
As mentioned, copy trading means what it sounds like; you essentially copy the strategies and deals of another, typically more experienced, trader. This means that whenever the trader or traders you’re copying open or close a position, you also do that.
This can be done manually, semi-automatically, or automatically, depending on your preference and the capabilities of the Futures copier or MetaTrader 4 trade copier you use. You can also do Futures copy trading by following the signals they send through social media, forums, or even in-app notifications.
These alerts tell you whether to buy or sell a particular asset. They also include other relevant information such as entry and exit points, stop-loss levels, and take-profit targets.
Moreover, copy trading isn’t limited to Futures and MetaTrader 4 trade copiers. Copy trading is done in other markets, such as stocks, CFDs, precious metals (Gold, Platinum, etc.), and popular crypto coins such as Bitcoin (BTC). And, of course, equivalents of Futures copiers and MetaTrader 4 trade copiers are also available in these markets. If you’re interested in exploring other markets, I highly recommend looking into CFDs. Check out our blog post that reviews the best CFD trading platforms; it’s a great resource to read once you have a solid understanding of CFDs.
Generally, Futures copy trading on a platform like MetaTrader 4 is as follows:
First, you must choose a trader with a good trading strategy, a good performance record (Good profit/loss, maximum drawdown, consistency), and a moderate risk level. Once you’ve chosen your trader or traders, you’ll need to set up a MetaTrader 4 trade copier. This tool connects your account with the trader’s so that trades are done smoothly.
Next, you’ll need to adjust key factors like trade size, leverage, stop-loss, and take-profit levels to avoid getting out of hand if a trade goes wrong. You’re done. All you have to do now is monitor the trades and manage the factors involved in each trade. Suppose you feel that a trader you’re copying is underperforming. In that case, you can unsubscribe from them and either copy another trader or allocate funds to another trader you’re already copying for more profit.
Now that you have a general understanding of copy trading, it’s key to note some common misbeliefs and misconceptions about what is and isn’t copy trading.
What Copy Trading Isn’t
Copy trading isn’t an overnight money maker. This is a fact that many people who are new to trading, especially Futures copiers, overlook. As a concept, it sounds impressive; all you have to do is follow whatever an experienced trader says, and you make a whole bunch of money, right? Wrong!
As I briefly mentioned earlier, you need to have a reliable platform and experience trading, and you also need to fully understand a trader’s strategy and weigh whether it suits you or not. Some big traders take huge risks and lose a lot of money; even the most successful and experienced traders make mistakes.
You might say they might lose significantly, but they win bigger; that’s why they’re successful. Well, you’re forgetting that they do win more significantly, but will that win happen before you’ve lost your money? See, when you copy a trader, you will specify a certain amount that you want to use when copying that trader, whether that’s settled with yourself or specified in the Futures copier software you use. However, typically, a trader has much more to spend on their trades, and before they make their big win, they might lose enough that they may run out of money.
Even if that doesn’t happen, again, any trader can go through a rough patch, and you might just happen to start copying them at that point.
Plus, if you don’t have enough experience and are doing this manually, you might make mistakes when copying trading, such as opening or closing a trade too early or too late, making the wrong trade, forgetting to specify stop-loss levels, and taking profit margins. One way to prevent these things is to use a reliable Futures copier or MetaTrader 4 trade copier, which I’ve listed near the end of this guide.
Lastly, another thing that MT4 copy trading is different from mirror trading. While they might be similar in name, in mirror trading, an entire strategy is copied rather than copying simple trades. While this allows for a more automated trading experience, it also removes the choice of picking and choosing which trades you want to copy, making it much more risky.
Advantages and Drawbacks of Futures Copy Trading
While Futures copy trading is an attractive feature, it’s crucial to know the pros and cons of MT4 copy trading and the benefits and issues of using MetaTrader trade copiers.
Advantages of Copy Trading Using Futures Copiers
Knowing the risks of Futures copy trading and MetaTrader 4 trade copiers is essential, and you can profit significantly from this feature if you do it right. This is due to its simplicity, which allows even beginner traders or those who don’t have the time to do full-time day trading to make a good profit without necessarily having the experience and time.
Suppose you don’t have the required knowledge or experience. In that case, many Futures and MetaTrader 4 trade copiers feature a free demo account where you can simulate copy trading through virtual funds but genuine, real-time market trends and changes.
Furthermore, since you can copy several traders, you diversify strategies, allowing you to potentially offset losses in one area and strategy through profits in another rather than simply allocating all your funds to copying a single trader.
Lastly, MT4 copy trading is widely acknowledged by major regulatory bodies such as CySEC, ESMA, MiFID, and the FCA. Opting for a licensed and reputable trading platform such as MT4 and MT4 copiers will help safeguard your funds and protect you from potential scams.
Drawbacks of Copy Trading Using Futures Copiers
I’ve briefly mentioned the risks of Futures copy trading earlier in this post; however, it’s not just the fact that there’s no guarantee of profit, which the concept of copy trading would have you believe.
You also have to consider things like copy trading fees. Many platforms and Futures copiers charge fees for using their MT4 copy trading services, such as subscription or performance fees. Not only that, but many Futures platforms implement a minimum deposit amount.
The fees don’t stop there, though, as some platforms apply spread markups. A spread is the difference between the buy and sell price of a currency pair, and a markup essentially widens this spread, increasing the cost of each trade.
While these markups might take time to notice, they can eat into profits, particularly for traders who make a high volume of trades over time. Additionally, commission fees for each executed trade are typically a flat rate per trade or a percentage of the trade volume.
Plus, MetaTrader trade copiers and Futures copy trading platforms also charge withdrawal and inactivity fees, which can add up quickly if you move funds frequently or the opposite, don’t trade for a certain period.
It’s also key to remember that no matter how good and experienced a trader you’re copying is, they will make mistakes, which can result in massive losses, especially if you’re copying a high-risk trader.
You should also note that copy trading isn’t widely accessible to U.S. residents due to the Dodd-Frank Act, which adds layers of regulation to protect consumers, especially around leveraged trading.
Foreign brokers often avoid offering these services in the U.S. because of the legal hoops they’d need to jump through. As a result, Americans have fewer options for MT4 copy trading than traders in other countries, and it’s crucial to check that any platform they choose complies with local rules.
Ultimately, you are given complete control of how you want your money spent on these trades, which can make you lots of profit or loss. This again highlights why you can’t just start copy trading with zero experience and expect to win big.
That said, if you believe that you’ve got a good understanding of the risks and requirements of Futures copy trading and want to take advantage of the benefits of the best MetaTrader 4 trade copiers, then let’s head to the next section.
Related Reading
Top 20 Best Trade Copier Tools for Profitable Futures Trading
1. eToro: The Copy Trading Pioneer
eToro stands out as one of the most reputable copy trading platforms today. eToro’s copy trading feature allows users to copy the trades of experienced investors on the platform automatically. You can even copy multiple traders simultaneously to diversify your investments.
What impresses me about eToro is that the platform isn’t just focused on Futures. You can also copy traders specializing in stocks, ETFs, cryptocurrencies, etc. This opens up a world of diversification opportunities that can help mitigate your overall risk.
Another excellent feature of eToro’s copy trading tool is the ability to see how much money a trader has allocated to each asset class. For example, if you want to copy a Futures trader, you can see how much they have assigned to different currency pairs. This can help you understand any diversification risks before copying their trades.
2. AvaTrade: Great for Copy Trading
AvaTrade is a trusted global brand best known for offering traders an extensive selection of trading platforms, including copy trading, alongside access to a wide variety of markets, such as options and – most recently – futures trading.
AvaTrade has a well-balanced offering with solid educational resources, competitive pricing, and multiple options for copy trading. My testing found AvaTrade to be great for copy trading, competitive for mobile, mostly in line with the industry average for pricing and research, and an outstanding choice for investor education. Experienced active traders may also be interested in knowing that more competitive pricing is available at AvaTrade on its Pro account for clients designated as Professional traders.
3. Pepperstone: The Copy Trading Expert
Pepperstone has long been a provider of copy trading platforms from popular third-party developers and recently launched its own branded version powered by Pelican.
Pepperstone is an excellent choice for copy trading because of its vast selection of copy trading platforms and the ability to use its spread-only standard account or commission-based Razor account across all its platforms. Each platform also comes with many third-party add-ons at Pepperstone, enhancing the available features beyond the vanilla offering of many other brokers.
4. MT4 Copier (Local Trade Copier)
Local Trade Copier is a lightweight EA that allows you to copy Futures trades from one MT4 account to multiple other accounts automatically. This will enable you to manage numerous positions on various accounts just from one master account without ever logging into the copier accounts.
The product has been used by our team and thousands of other traders worldwide for the last few years, and it’s allowed traders to manage funds for family, trade prop firm capital, mitigate portfolio risk, and start selling their trades!
5. Forex Copier 3
Forex Copier 3 is a software solution that allows you to copy trades from one account to multiple copier accounts. This will enable you to open positions, manage positions, and close trades across a range of different brokers and platforms simultaneously whilst only controlling my main account.
The product has copied over 5,000,000 trades over the last 11 years and is used by nearly 5000 forex and futures trades worldwide. Let’s take a look at the features…
6. NAGA
The chief focus of NAGA’s platform centers predominantly on social trading, encompassing an automatic copying capability, a roster showcasing top-performing traders termed the ‘Leaderboard,’ and providing valuable market data via its newsfeed feature to enhance the overall experience.
The platform charges per-trade copy fees in addition to underlying asset spreads. These expenses should be considered in any profit projections. To suit various trading needs, NAGA offers diverse assets, including equities, Futures, cryptocurrencies, ETFs, and indices.
The platform is intended to be user-friendly, emphasizing community engagement, which is key to the social trading paradigm. NAGA offers a variety of support choices, including live chat and email, and its vast and active community is a key component of the platform.
To assure security, NAGA follows stringent regulations set by CySEC, a renowned financial regulatory authority.
7. Darwinex
Darwinex distinguishes itself through its innovative strategy incorporating the concept of “DARWINs,” financial instruments founded on proprietary trading methodologies. The platform emphasizes risk management and provides a transparent pricing framework to ensure clarity for users.
The pricing model is performance-based, with traders paying fees depending on the profits generated by their “DARWINs.” Additionally, traders face spreads on underlying assets.
Traders can choose from various products, including Futures, indices, and commodities. However, the selection is narrower than on other more significant platforms. The UI is geared for intermediate traders, with some intricacy that might not be as user-friendly as other platforms.
Darwinex provides dependable service and has a dedicated community interested in the unique DARWIN investment technique. The FCA regulates the platform, ensuring it adheres to strict regulatory norms.
8. Exness
Exness is an intuitively designed and user-friendly social trading platform that centers on Futures and commodities markets. Additionally, the program offers a streamlined mobile experience for convenient on-the-go trading activities.
Spreads on underlying assets determine the platform’s price, and users may suffer extra costs depending on the signal provider’s subscription model. The site focuses primarily on Futures but also offers commodities, Share CFDs, Indices, and cryptocurrencies.
They are known for their simple application, making it ideal for beginners wishing to join social trading. The platform offers round-the-clock customer support and has a growing community of traders.
Exness is regulated by CySEC, the FSA, and other agencies, offering a secure trading environment.
9. ZuluTrade
ZuluTrade is a well-established platform for copy trading that offers sophisticated trader filtering options and advanced Combo and Basket trading tools. Additionally, its simulated demo mode provides ample practice opportunities to enhance skills in the field.
The platform charges performance fees and provides volume-based discounts. Spreads vary depending on the broker connecting to ZuluTrade. They focus primarily on currency markets.
The interface is relatively complicated, making it better suited for people with previous trading knowledge. Client support varies depending on the broker, and the platform offers few community features. The FSA Japan licenses ZuluTrade and works with other regulated brokers globally.
10. HFM
HFM offers the HFCopy platform that encompasses an extensive range of information related to signal providers and risk management protocols. Additionally, it facilitates automated strategies for optimal efficiency.
The broker charges performance fees for successful replicated transactions, with spreads changing depending on account type. The primary emphasis of HFCopy is Futures, with minor exposure to indexes and commodities.
The UI is intuitive and intended for individuals with some trading expertise. HFM offers round-the-clock service and instructional materials while having a smaller community than giants like eToro. The platform is regulated by CySEC, FCA, and DFSA, among others, ensuring a secure trading environment.
11. DupliTrade
DupliTrade prioritizes customizable replication parameters and transparent pricing models alongside comprehensive strategy analytics and a track record of results to enable informed user choices.
The platform’s cost structure is straightforward, but traders must understand its subtleties. DupliTrade does not provide diverse assets, emphasizing quality over quantity. The platform has a severe learning curve but offers specialized support and resources.
DupliTrade provides committed customer service, guaranteeing that traders receive the necessary support. This is notable despite the company’s comparatively limited market footprint, which may potentially affect its community scope and participation. DupliTrade’s security precautions are robust, although precise regulatory details may differ depending on which brokers they work with for trade execution.
12. FXTM Invest
FXTM Invest sets itself apart through its strategy managers, who are recognized for their proven track record of accomplishments. The platform offers a straightforward replication process and grants the option to tailor investment amounts as needed.
FXTM Invest charges performance fees depending on profits, and spreads apply to underlying assets. Traders should be aware of them since they may affect net returns. FXTM Invest focuses solely on currency, leaving limited options for investors wishing to diversify into other asset classes.
The platform is user-friendly, particularly for beginners, with an easy-to-navigate layout. The support staff is noted for responsiveness despite the platform’s limited community tools for social trading. FXTM is regulated by respected agencies, such as the FCA and CySEC, to ensure confidence and compliance.
13. SimpleTrader
SimpleTrader is a web-based trade copier service that is designed specifically for beginners. It offers a wide range of signal providers, each with a track record of successful trades. SimpleTrader also provides detailed performance statistics for each signal provider, allowing beginners to decide which traders to copy. The service is easy to set up and use, making it an excellent option for beginners new to trade copying.
14. MyDigiTrade
MyDigiTrade is a trade copier service that offers a range of signal providers from which to choose. It allows beginners to copy trades from multiple sources, including individual traders and social trading platforms. MyDigiTrade also provides detailed performance statistics for each signal provider, allowing beginners to choose traders with a proven track record. The service is easy to use and offers a range of customization options, making it suitable for beginners.
15. XM
I rank XM among the best Futures copy trading platforms due to its active internal trading community and connectivity to signal providers across the MT4/MT5 trading environment. XM also pays a profit share of up to 50% to signal providers, incentivizing profitable Futures traders to submit their trading strategies.
XM allows algorithmic strategies as signal providers and offers VPS hosting for low-latency 24/5 Futures trading. Cryptocurrency copy trading is also available, where VPS ensures 24/7 trading. Ultra Low Standard Account Traders also benefit from competitive Futures spreads from 0.6 pips or $6.00 per 1.0 standard round lot.
16. Octa
I rate Octa as one of the best Futures copy trading platforms due to its low fees and fast withdrawal processing time. Traders benefit from commission-free spreads of 0.6 pips or $6.00 per 1.0 standard round lot and an average withdrawal processing time for most withdrawals of 19 minutes. The four-tier Status program lowers trading fees further, and traders get a 50% withdrawable deposit bonus.
Octa presents 300+ liquid trading instruments on MT4 and MT5 for algorithmic traders, while its web-based, user-friendly OctaTrader and mobile app present better options for manual and mobile traders. Cryptocurrency deposits and withdrawals are also available.
17. PrimeXBT
PrimeXBT offers an excellent environment for Futures and cryptocurrency traders who use manual and copy trading strategies. It is an excellent choice for beginners who get 390+ educational articles, and the $15 minimum deposit ensures accessibility to everyone. With 1M+ traders, the proprietary copy trading service has plenty of signal providers to deliver a competitive choice of strategies.
Active traders benefit from volume-based discounts to the commission-free pricing environment featuring average EUR/USD spreads of 0.9 pips or $9.00 per 1.0 standard round lot. PrimeXBT also offers a generous reward program with $5,000+ in cash bonuses for achieving trading milestones.
18. FP Markets
FP Markets developed its proprietary FP Markets copy trading solution, which traders can use to diversify their portfolios alongside embedded copy trading solutions in MT4/MT5/cTrader. Fee-based Signal Start and the well-known Myfxbook Autotrade service are also available. It makes FP Markets one of the best copy trading brokers.
Signal providers get MT4/MT5 upgrades via 12 plugins, Trading Central, and Autochartist, ensuring they have cutting-edge tools for signal creation. FP Markets also maintains a well-balanced asset selection. Traders get competitive, commission-based trading fees featuring raw spreads from 0.0 pips for a commission of $6.00 per 1.0 standard round lot.
19. Tickmill
Tickmill has evolved from a plain-vanilla MetaTrader platform provider into a multi-asset broker that offers a growing selection of platforms alongside ultra-competitive spreads on its commission-based Raw account.
Pros Founded in 2014, Tickmill is regulated in two Tier-1 jurisdictions, two Tier-2 jurisdictions, and one Tier-4. Pricing for Tickmill’s Raw account is highly competitive, helping the broker earn our 2024 Annual Award for #1 Commissions and Fees. Tickmill offers the full MetaTrader suite (including platform add-ons) and earned Best in Class honors for MetaTrader in our 2024 Annual Awards. The CQG and AgenaTrader platform is offered for futures and options trading ($1,000 deposit required). Tickmill is a solid choice for professional trading and algo trading. Education from the CME, interactive sentiment data, and website widgets from Acuity Trading help complement research at Tickmill. Tickmill’s copy trading offering includes Tickmill Social Trading (Only available via its Seychelles entity). Tickmill offers automated trading (via Capitalise) and Signal Centre (powered by Acuity) to deliver trading signals and research for traders.
Cons While its number of markets has recently increased, Tickmill still only offers a limited range of tradeable assets compared to the best Futures brokers in our Offering of Investments category. Pricing for Tickmill’s Classic account is less competitive, and the recent removal of its VIP account is a slight but notable setback for active traders looking for deeper savings on commission costs. The TradingView platform has been discontinued at Tickmill for futures and options trading. Autochartist and Pelican Trading were recently discontinued at Tickmill.
20. Duplikium
Traders looking to copy positions onto other accounts can benefit from Duplikium, another leading Futures trade copier. With this solution, traders don’t have to run any EAs or VPSs on their phones – everything is handled automatically on the server, and it only takes a few minutes to set it up.
Duplikium is a cross-platform product, which is its main advantage. As a result, you can copy trades from MT4 to cTrader or LMAX. Traders can opt for either a free package or a $20 monthly package, which is the most popular option.
Related Reading
- Trade Copier for TradingView
- DX Trade Copier
- Trade Multiple Accounts Simultaneously
- Copy Trading Platforms
How to Get Started in Copy Trading
Choosing the Right Copy Trading Platform: Your First Step Toward Success
Selecting the right platform helps ensure your success in copy trading. You want a platform that aligns with your financial goals and investing preferences. This decision should be informed by several factors, including:
Automated Replication for Instant Success
Trade copiers allow trades performed by a chosen trader or strategy provider to be duplicated automatically. This automation saves time and lowers the possibility of mistakes by eliminating the necessity for human trade entry.
Real-Time Mirroring for Maximum Effectiveness
Trades are replicated in real-time such that the cloned trades closely mimic the strategy provider’s activities. Maintaining the efficacy of the selected trading strategy is contingent upon this.
Multiple Account Management for Advanced Traders
Trade copiers facilitate traders’ simultaneous management of numerous accounts. This technology is invaluable for fund managers or individuals with diverse portfolios because it makes conducting trades across multiple accounts easy.
Interoperability Across Multiple Platforms for Flexibility
Trade copiers are helpful tools for traders who utilize various brokerage services or platforms. They are designed to work with several trading platforms.
Risk Management and Customization for Personalization
Many trade copiers have risk management and customization features. To suit their trading style and risk tolerance, traders can modify factors like lot size, risk percentage, and stop-loss settings.
Provider-Subscriber Model Explained for a Better Understanding
Trade copiers operate on a provider-subscriber model. The strategy provider, often an experienced trader or an automated trading system, executes trades, and subscribers or followers replicate those trades in their accounts.
Transparent Performance Tracking for Informed Decision-Making
Trade copiers often provide transparent performance tracking and reporting tools. This allows subscribers to assess the strategy provider’s historical performance before deciding to replicate their trades.
Diversification Opportunities for Balanced Trading
Trade copiers allow investors to diversify their holdings by offering various trading styles and methods. This diversity may be crucial for a balanced investing strategy and risk management.
Setting Up Your Account: Getting Started
After selecting a platform, the account creation process involves fulfilling a registration protocol that typically requires identification verification per legal norms. Implementing this mechanism safeguards against potentially fraudulent activities within the trading environment and instills confidence in the security protocols surrounding transactions.
Selecting Traders to Copy: The Most Crucial Step
The cornerstone of copy trading is the identification of traders whose methodologies and risk preferences align with your investment objectives. It is imperative to scrutinize their performance track record, risk profile assessments, and trade execution approaches. Numerous platforms offer comprehensive analytics coupled with transaction histories, facilitating informed decision-making procedures.
Managing Risks in Copy Trading: Protecting Your Capital
Risk management is crucial in copy trading, including restricting investment amounts, understanding traders’ leverage, and regularly assessing portfolio performance. Therefore, it is advisable to start with smaller investments until confidence in platform mechanics and trader strategies is built and to invest cautiously until confidence is gained.
Deploy a Trading VPS Today
When you copy the trades of another Futures trader, you want to get into and out of trades as quickly as possible to maximize your profits. But if the trading platform you use to execute these trades is slow, you could risk missing out on key market opportunities. To avoid this, many Futures traders turn to virtual private servers (VPS) to boost the speed of their copy trading operations.
A VPS hosts your trading platform and any applications you use on a separate, powerful computer located in a remote data center. This allows you to run your copy trading operations on a machine with a fast internet connection rather than relying on your computer. A trading VPS can significantly reduce your latency (the time it takes for your computer to communicate with your broker’s server) to improve your Futures copy trading performance.
QuantVPS delivers high-performance, cost-effective trading VPS solutions tailored for algo traders. Our platform offers ultra-low latency of 1 millisecond, ensuring lightning-fast execution for futures, crypto, equities, and Futures trading. We support major trading platforms, including NinjaTrader, TradeStation, MetaTrader, Interactive Brokers, Sierra Chart, and Quant Tower. With 24/7 support and a 100 uptime guarantee, QuantVPS provides a reliable, speed-optimized environment for traders to run their automated strategies continuously and efficiently. Get started and deploy your trading VPS today!