Copy trading offers a straightforward way for beginners to invest in financial markets like stocks, forex, and crypto. Instead of figuring everything out independently, you can simply copy the trades of seasoned experts—mirroring their strategies and performance. The best copy trading platforms not only make this possible but a lot easier as well.
They provide the technology to track top traders, follow their trades, and automate mirroring their performance in your account. To ensure the most seamless experience, consider using the best trade copier to replicate trades efficiently and accurately. With so many copy trading platforms out there, how do you choose the one that is right for you? This article will offer valuable insights to help you confidently pick a reliable and the best copy trading platform that minimizes risk while maximizing investment returns, even as a beginner.
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What is Copy Trading, and Why do You Need Copy Trading Platforms
Copy trading is the process of mirroring your trading strategy to that of another trader or algorithm. That is to say, you will be ‘copying’ another trader who actively places trades that align with your strategy. So, if your chosen trader decides to go long on AUD/USD – the same position will be automatically opened under your trading account.
If the same trader decides to short-sell Facebook stocks, again, you will do the same. The central concept here is that you can actively trade without spending much time on research and analysis. Your chosen trader will conduct your required research and make decisions accordingly. This includes the end-to-end process of analyzing the markets, performing research, and placing orders.
The Benefits of Copy Trading
Your brokerage account will reflect any profits or losses your chosen copy trader makes. This will, of course, be at any amount proportionate to what you have invested – and there might be some fees or commissions involved.
How Copy Trading Mirrors Profits and Losses
Here’s a simple example of how copy-trading works in practice:
You invest $2,000 into a copy trading platform. You allocate the entire $2,000 to a day trading pro specializing in commodities. The commodity trader risks 10% of their portfolio going long on gold. In turn, you risk $200 from my portfolio. This particular trade results in gains of 30%. On your stake of $200 – you made a profit of $60.
Of course, not all trades like the example above will result in financial gain. The key point here is that everything the trader does is mirrored like-for-like in your portfolio. As such, both profits and losses need to be taken into account.
The Rise of Copy Trading: How Platforms Empower New Investors and Drive Market Growth
Copy trading platforms help you replicate the trading strategies of successful traders to enhance their understanding of market dynamics for profit. The global copy-trading market is projected to reach $4 billion by 2030, highlighting the growing interest in copy-trading platforms that empower investors with limited experience.
We’ve done our in-depth research and selected the best copy trading platforms, evaluating their:
- Features
- Advantages
- Unique selling points
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19 Best Copy Trading Platforms for Safe & Smart Investing
1. QuantVPS: Speed Optimized VPS Solutions for Copy Trading
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
- Forex trading
We support major trading platforms, including:
- NinjaTrader
- TradeStation
- MetaTrader
- Interactive Brokers
- Sierra Chart
- 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!
2. eToro: All-in-One Social Trading Platform
eToro is considered one of the best copy trading platforms on the market. The platform uses social trading features to provide a copy trading interface that is simple to navigate. Users can scroll through detailed trader profiles to find one that best suits their needs, risk appetite, and strategy.
eToro provides data about each trader’s past performance and strategy so that users can make informed trading decisions. Furthermore, the platform supports copy trading for various financial instruments, including stocks, ETFs, cryptocurrencies, commodities, etc.
How to Evaluate and Choose Traders to Copy on eToro for Informed Investing
You then can take a closer look at each trader’s historical performance at eToro. As an illustration, it’s possible to track the monthly gains or losses of the trader since they joined eToro, in addition to their associated risk rating.
You can also view the average number of days or weeks the trader keeps a position open and their maximum drawdown. 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 selected a trader to copy, it’s just a case of deciding how much to invest. The minimum deposit for copy trading on eToro is $200.
3. ZuluTrade: Copy Trading With Advanced Features
ZuluTrade (via AvaTrade) is a copy trading platform suitable for beginner and experienced traders. To use the tool, you must sign up for a partner broker like AvaTrade and connect your account to ZuluTrade. You can then access various copy trading features, including:
- Price charts
- Live market data
- Signals
Using ZuluTrade’s Leaderboard and Tools to Choose the Right Traders to Copy
Users can pick which traders to copy based on a trader leader board. Here, the platform ranks the top traders based on their performance. Before making any decisions, it is possible to view details about each trader, including:
- ROI
- Total followers
- Past performance
- Insight into their trading strategies
ZuluTrade also provides users with many tools with which to conduct their research and analysis. This allows users to improve their skills and ensure they make justified decisions before putting any money at risk.
Testing ZuluTrade with a Demo Account and Understanding Its Fee Structure
You can also test the platform with a demo account before live trading. Although ZuluTrade claims to be transparent with its fee structure, we had to do some digging to locate the commission rate. Based on certain conditions, we found that this amounts to 20%. For example, if you invest $1,000 and your chosen trader makes 50% in month 1 – this amounts to gains of $500. From this figure, ZuluTrade will keep $100, which leaves you with net profits of $400.
4. Meta Trader 4: The Most Popular Trading Platform
Meta Trader 4 (MT4) is the most utilized third-party trading platform in the online investment arena. The platform comes packed, ideal for seasoned day traders, with:
- Advanced tools
- Technical indicators
- Pricing charts
That said, MT4 isn’t just suited for experienced pros – as the platform offers several copy trading features. Its support for forex EAs (Expert Advisors) is at the forefront of this. The concept here is that by downloading a software file and installing it into MT4, the Forex EA will trade on your behalf 24 hours per day. The respective software file will have a set of pre-defined conditions built into it via an algorithm.
How to Use MT4 and Forex EAs for Passive Trading: Key Considerations
When the algorithm spots a profit-making opportunity, it will place a trade. This allows traders to trade passively without any need for intervention. You must consider two main factors when using this top-rated copy trading platform.
- You must find a suitable forex EA, as MT4 doesn’t provide this. There are thousands of providers in the space – so make sure you perform lots of research.
- MT4 is a third-party trading platform, not a broker. As such, you will need to find a suitable online broker that offers support for MT4 and forex EAs, as well as a wide range of markets and competitive fees.
Optimizing Forex EAs with Libertex
In this respect, Libertex is one of the better options. This is especially true if your chosen forex EA takes a day trading strategy. After all, Libertex charges tight spreads – so the EA can target modest but frequent gains without getting hammered by indirect fees.
Libertex also offers commission-free trading on many stock CFDs. Other assets have 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
- Bank account transfer
That said, it’s also worth using the Libertex demo account facility first and then linking it to MT4. In doing so, you can test your chosen forex EA out risk-free.
5. Meta Trader 5: Advanced Trading Features
Meta Trader 5 (MT5) is the younger counterpart to MT4. This third-party trading platform works much the same as MT4, albeit it is often used by those looking for CFDs instead of just forex. MT5 also comes with more advanced charting tools and technical indicators – just like MT4, it offers full support for forex EAs and automated trading robots.
MT5 also provides a fully-fledged mirror trading feature that works similarly to eToro. This feature allows you to browse through thousands of traders using the MT5 platform and copy their ongoing trades like-for-like. MT5 charges a monthly subscription fee for this, which will vary depending on your account and the specific trader you are copying.
Maximizing Profit Potential with High-Leverage Trading on FinmaxFX MT5
Alternatively, you can obtain a Forex EA or robot from a third-party platform and install it into MT5. Either way, like MT4, MT5 is a trading platform between you and your broker. As such, you will need to find a suitable brokerage site that is compatible with MT5. One of the best MT5 brokers that we came across is FinmaxFX. This CFD trading platform offers everything from:
- Forex
- Stocks
- Cryptocurrencies
- Metals
- Energies
- Bonds
Perhaps the main draw with FinmaxFX is that it is a high-leverage MT5 broker. For example, while retail traders in the UK, Europe, and Australia are capped to just 1:30 on major forex pairs, FinmaxFX offers leverage of up to 1:200. This means that a small account balance of $200 would permit a maximum forex trading position of $40,000. A leverage of 1:200 is also offered on indices and gold.
Leveraging High Opportunities with FinmaxFX: Copy Trading and Small Capital Gains
Non-gold commodities and bonds can be traded with leverage of 1:100, stocks at 1:20, and cryptocurrencies at 1:10. Although you must tread with caution when using such high leverage levels, this allows you to engage in a copy trading strategy with a small amount of capital.
Your chosen MT5 copy trader or forex EA might take a scalping or day trading strategy to target small gains. As such, leverage via FinmaxFX ensures that your financial gains are viable. Regarding account minimums, this starts at $100 at this top-rated broker.
6. Mirror Trader: Trade-Specific Strategies
Mirror Trader (via AvaTrade) is an innovative copy-trading tool developed by Tradency. This tool differs from the other providers we have discussed thus far, as you will be basing your mirror trading decision on a specific strategy instead of selecting an individual trader. This allows users to automate their trading endeavors explicitly based on their desired strategy.
For example, you might come across a strategy that focuses on scalping. This will see the copy trading tool place dozens of low-risk buy and sell positions throughout the day when an asset is stuck in a tight pricing range. Alternatively, you may copy a strategy that focuses on breakouts. This is when an asset smashes through a previously identified resistance level. Either way, the Mirror Trading tool offers heaps of strategies.
Choosing the Right Broker for Mirror Trading: AvaTrade and Fee-Free Copy Trading
You can quickly review each strategy in great detail by looking at its average monthly gains, risk rating, return on investment, maximum drawdown, and more. Mirror Trader is a third-party add-on, so you must link it with a supported online broker.
Once again, AvaTrade is a good option, which we discussed in detail in our earlier section on ZuluTrade. Regarding fees, Mirror Trading doesn’t charge anything to use its copy trading tool. Although some brokers charge an additional subscription to link your Mirror Trading account, AvaTrade offers this free. As AvaTrade is a commission-free broker, the only trading fee you need to factor in is the spread.
7. cTrader: Advanced Copy Trading Tools
Much like MT4 and MT5, cTrader is a third-party trading platform that can be accessed through a brokerage platform such as Pepperstone. The platform is particularly popular with advanced traders who need access to:
- Complex order types
- Fast-entry execution
- Level 2 pricing fees
That being noted, cTrader is also behind a growing community comprising amateurs and seasoned pros. Experienced traders can broadcast their proven strategy to the cTrader platform, which can be copied like-for-like. This is a win-win situation, as less-experienced traders can trade fully automatedly while the strategy broadcaster will earn a commission. Once you have chosen an investment strategy, you can set up risk-management tools to suit your financial goals.
Using cTrader for Copy Trading: Managing Fees and Maximizing Transparency with Pepperstone
For example, you can apply leverage on your positions or set a maximum stop-loss price. There is complete transparency on cTrader, meaning you can view the historical trading results of your chosen strategy broadcaster before taking the plunge. You might be charged to copy a strategy via cTrader in two ways. This is usually based on volume, so the more you invest, the less you pay. In other cases, you will pay a performance fee.
This means that the more profit the trader makes you, the more they make themselves. This popular cTrader broker specializes in low-cost CFD instruments, including everything from forex and gold to stocks and indices. Pepperstone does not charge fees to use cTrader, which is excellent.
Pepperstone Copy Trading: Understanding Accounts, Fees, and Funding Options
Actual trading commissions depend on the account you decide to open, of which there are two options.
- The ‘Standard account is commission-free, with all fees built into the spread.
- The ‘Raw’ account has zero spreads but a fixed commission.
The exact commission depends on the underlying currency of the asset you are trading. For example, assets priced in USD will cost you $3.50 per slide. Pepperstone is also a great choice, as the platform has been around since 2010 and is regulated. There is no minimum deposit at this free trading platform, and you can fund your account with:
- A debit/credit card (Visa or MasterCard)
- Bank transfer
- PayPal
8. Duplitrade: Copy Trading Strategies Instead of Traders
Duplitrade (via Pepperstone) offers a similar service to Mirror Trader, as you can access a wide variety of trading strategies – all of which you can copy like-for-like. That said, we found that Duplitrade has a broader strategy scope on its platform, making it ideal for diversification.
One option you might consider is the’ Major’ system to give you an idea of some of the strategies Duplitrade offers. As the name suggests, this copy trading strategy makes buy and sell decisions through technical indicators such as the following:
- RSI
- ADX
- Parabolic SAR
Exploring Duplitrade’s Robust Strategy: Automated Trading with Pepperstone and High Minimum Deposit
Another popular copy trading strategy at Duplitrade is that of the ‘Robust’ system. On top of major forex pairs, this also focuses on gold and indices. This strategy will focus on fully automated means of reverting points and breakouts. Regarding getting started, Duplitrade requires access to your brokerage account.
Once again, we think that Pepperstone is one of the top copy trading platforms in this respect – due to previously discussed low commissions and spreads on offer. Before starting with Duplitrade, it is essential to note that the minimum deposit is a whopping $5,000. The good news is that you can spread this $5,000 across as many copy-trading strategies as you wish. This allows you to take a more risk-averse approach to automated trading.
9. FP Markets: Advanced Copy Trading Features
FP Markets is one of those rare copy trading brokers that manage to deliver both quality and quantity, balancing a wide selection of tools and features that cater to the needs of all kinds of traders. The broker was founded in 2005 and is licensed by several top-tier regulators, including CySEC in Cyprus and ASIC in Australia.
FP Markets incorporates MyFXbook Autotrade and Signal Start, two advanced tools that accommodate and enhance copy trading and social trading techniques.
FP Markets Copy Trading: Exploring MetaTrader Platforms and Low-Cost Account Options
The broker also has an impressive selection of over 10,000 instruments, accommodates fast order execution supported by a complimentary Virtual Private Server (VPS), and provides diverse account types and pricing models (ECN and DMA). FP Markets’ Standard account type affords commission-free trading and floating spreads from 1.0 pips, which we assessed below the industry average.
The broker also incorporates the renowned MetaTrader 4 and 5 platforms supporting copy trading. The two platforms have easy-to-navigate interfaces, simplifying order execution.
10. Vantage Markets: Low-Cost Copy Trading
Vantage Markets is another good option, especially for gaining exposure to the forex market. It supports dozens of currency pairs, including exotics like:
- USD/BRL
- USD/THB
- EUR/HUF
In-house copy trading tools are available; the minimum investment is just $50. No additional fees apply, but you’ll need to cover standard commissions and spreads. These depend on the account type. Beginners will prefer the standard account.
Vantage Markets Copy Trading: Exploring Raw ECN Accounts and Asset Diversity
This offers 0% commission on all markets and forex spreads from 1.1 pips. Those investing more significant amounts should opt for the Raw ECN account. This charges a $3 commission per slide (per standard lot) and offers minimum spreads of 0.0 pips. Vantage Markets also supports other asset classes, including:
It also offers demo accounts, an excellent option for first-time investors. Vantage Markets provides a solid user experience. It can be accessed via web browsers and an Android/iOS app. Vantage Markets also supports MT4/5, which offers third-party copy trading services.
11. Margex: Copy Trading for Cryptocurrency Futures
Margex is one of the best copy trading platforms for cryptocurrency futures. It offers perpetual contracts on dozens of cryptocurrencies, including:
Unlike spot trading markets, Margex futures support long and short positions. They also come with leverage of up to 100x. Margex offers in-house crypto copy trading tools, so no third-party software or integration is needed.
Margex Copy Trading: Evaluating Top Futures Traders and Low-Cost Fees
The top futures traders are listed based on past performance. Clicking on a trader reveals additional metrics. Margex’s minimum deposit is just $10, making it an excellent choice for those on a budget. Accepted payment types include Visa, MasterCard, and cryptocurrencies.
Regarding fees, traders receive a small percentage of the profits they generate. This is displayed when choosing a trader. You’ll also pay standard commissions whenever a trade is executed. Margex charges 0.019% (limit orders) and 0.06% (market orders). Unlike other cryptocurrency exchanges, commission discounts aren’t available when trading higher amounts.
12. Trade Nation: User-Friendly Copy Trading App
Trade Nation is a safe and trusted trading platform licensed in multiple countries. This includes:
- The UK, Australia
- South Africa
- Bahamas
- Seychelles
It offers a dedicated copy trading app for iOS and Android. It’s free to download, and the user experience is for beginners. Users must also connect their Trade Nation account with MT4.
While this adds a step, it takes seconds. Trade Nation doesn’t charge additional fees for copy trading. Trade Nation is a commission-free platform, so you only pay the spread. These are often wider than the industry average. For example, spreads (when connected to MT4) start from 1.1 pips on EUR/USD and GBP/USD.
13. OKX: Advanced Copy Trading for Crypto
OKX is one of the best cryptocurrency exchanges, with traders benefiting from low fees, advanced charts, and a wide range of automated tools. This includes an in-house copy trading feature supporting hundreds of strategies, from swing trading and long-term investing to grid sniper bots. You can choose traders from the spot or futures markets and can manage everything from your phone since it has one of the best copy trading apps.
The latter offers leverage of up to 100x, plus long and short trading. OKX supports hundreds of cryptocurrencies, including:
- Bitcoin
- Dogecoin
- Solana
- Ethereum
No copy trading fees are charged; you only pay the standard commission. That’s just 0.1% when trading spot cryptocurrencies and 0.05% when opting for futures. Discounts are offered to market makers and those trading higher amounts.
14. RoboForex: Great for Beginners
RoboForex stands as a one of the best social trading platforms. CopyFX offers a seamless experience for investors seeking to replicate the strategies of successful traders. RoboForex has a special brokerage license that allows it to operate under Belize’s Financial Services Commission (FSC) regulation.
Not all Signal Providers on CopyFX charge fees. We found some offer their strategies without commissions, allowing investors to copy their trades at no extra cost. CopyFX offers three primary copying modes to make this process easier for different trading levels:
- Proportional Mode: This mode adjusts the trade size based on how much money you have compared to the trader. If you have less money, you’ll buy/sell smaller amounts than the trader.
- Classic Mode: In this mode, you set a specific amount (e.g., number of shares or currency units) to trade whenever the trader does, regardless of their trade size or account balance.
- Fixed Mode: Here, you, the investor, simply copy the trader’s exact trades into your account, regardless of the size or balance.
15. Bitget: Best for Crypto Copy Trading
Bitget is a leading platform for copy trading in the cryptocurrency space. Known for its secure structure and strong emphasis on crypto, Bitget offers users a straightforward way to replicate trades made by top crypto investors.
Features Advanced Crypto Support:
- Specializes in cryptocurrency markets, offering a vast selection of crypto pairs.
- Transparent Performance Metrics: Provides data on the historical performance of each trader for informed copying.
- Low Transaction Fees: Keeps fees competitive, especially in crypto trades
16. CopyRack: Supports Various Asset Classes
CopyRack is a versatile platform that supports various asset classes and a wide selection of expert traders. Known for reliability and transparency, It is a good choice for traders looking for stability and a straightforward way to copy trade across markets.
Features:
- Multi-Asset Support: Offers forex, crypto, indices, commodities, etc.
- Transparent Trader Profiles: Profiles display performance history, risk level, and strategy details.
- Secure Transactions: Ensures secure transfers with wallet integration options.
- Low-Fee Model: Maintains an affordable fee structure for frequent traders
17. Exness: Beginner-Friendly Trading Platform
Exness is a platform for beginners and experienced traders. It offers easy access to forex, crypto, and other markets with low fees. The platform focuses on simplicity, making it easy for users to set up and copy successful traders’ strategies.
Features:
- Beginner-Friendly Design: The simple layout makes navigating and starting trading easy.
- Wide Range of Options: Extensive forex, crypto, and other offerings cater to diverse preferences.
- Performance Data: Clear performance records help users make informed choices.
Exness offers detailed metrics to assess strategy providers, such as:
- Risk scores
- Return rates
- Monthly performance
18. PrimeXBT: Advanced Copy Trading Tools
PrimeXBT is designed for experienced traders who want exposure to advanced trading tools and strategies in the crypto and forex markets. Nonetheless, the copy trading feature also makes it accessible to beginners. Known for its competitive fee structure and secure platform, PrimeXBT stands out among those who prioritize crypto trading.
Features:
- Advanced Tools: Offers complex trading options, including leverage and margin trading.
- Low Fees: Keeps fees competitive, especially for crypto trades.
19. IG: Trade Over 17,000 Markets
Last on this list is IG, a regulated trading platform with over 17,000 markets. It supports:
- Hard and soft commodities
- Options
- Futures
- Interest rates
- Indices
- Significant, minor, and exotic forex trading pairs.
It lists cryptocurrencies, including:
IG supports copy trading and advanced trading tools via MT4. This means you need to buy a subscription from the MQL5 marketplace. Bank transfers do not require a minimum deposit, but debit/credit cards require at least $50. Apart from stocks, all financial markets can be traded commission-free. Spreads start from 0.6 pips when trading forex via MT4. Stock commissions vary depending on the market.
Related Reading
5 Tips to Trade Safe and Risk Free on Copy Trading Platforms
1. Choose a Copy Trading Platform That’s Regulated
When selecting a copy trading platform, start by adequately regulating it. A license from a reputable authority ensures fair trading practices and consumer protections. If you trade with an unregulated entity, you risk being scammed.
2. Research Performance Data Thoroughly
Never copy a trader purely on recent performance. Explore their historical trading data, including maximum and daily drawdown risk metrics. The average trade duration and win rate should also be considered.
3. Set Risk Parameters Before Starting
The best copy trading platforms offer customizable risk parameters. For example, you can manually choose a stop-loss percentage for all positions. This ensures losing trades don’t wipe your entire balance.
4. Get a Mobile App for Monitoring
We’d suggest downloading the platform’s mobile app for seamless monitoring. Check in every few days to see your traders’ performance, which assets they’re trading, and whether rebalancing is needed.
5. Avoid Copying a Single Trader
Diversification is key when copy trading. Being overly reliant on a single trader is a recipe for disaster. Like traditional investing, spread your funds across multiple traders from different disciplines, such as a long-term stock investor and a forex day trader.
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Deploy a Trading VPS Today
If you’re aiming for high frequency trading, selecting among the best copy trading platforms is just the beginning. You will also need a relaible and fast VPS, and that’s exactly where QuantVPS can help you. 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
- Forex trading
We support major trading platforms, including:
- NinjaTrader
- TradeStation
- MetaTrader
- Interactive Brokers
- Sierra Chart
- 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!