There are various platforms that traders can use when it comes to copy trading forex, we have listed the platforms that let you copy other traders in this article.
We have also taken these elements into consideration to compile the ranking:
- The general quality service offered
- The availability is based on the Country of Residence
- There are platforms, such as MT4.
- The number of tradable markets and other assets.
List of Top 10 Best Forex Copy Trading Platforms
There are a few forex trading platforms that stand out as some of the best in the business. These platforms have been proven over time to be successful and reliable, making them great options for those looking to get into forex copy trading.
1. eToro
- eToro is the most popular copy trading platform worldwide.
- eToro lets you copy other traders starting from a minimum $200 investment.
- You can copy traders and view their statistics. Interact With them.
- Copy-trading at eToro will allow you to trade CFDs as well as real stocks and cryptocurrencies.
- eToro lets you try the copy trading platform using a demo account.
- eToro’s (Popular Investors), will be paid a fixed or variable compensation signal provider based on their AUM.
Pros
- No charge for stock or ETF trading
- Open a seamless account
- Social trading
Cons
- Customer support should be better
- One account base currency
- High non-trading fees
Features
- Country of regulation -UK (Cyprus), Australia
- Low Trading fees class
- Withdrawal Fee -$5
- Minimum deposit- $200
2. ZuluTrade
- ZuluTrade, the pioneer copy trading platform, is .
- Copy trading is possible through ZuluTrade and MT4.
- You can Link your trading account to another broker so that you can replicate the positions of other traders.
- ZuluTrade offers advanced copy trading management tools.
- The minimum depositto use ZuluTrade is $100.
Pros:
- Transparent copy, social trading platform
- Comprehensive statistical analysis of each trader
- Make your portfolio more efficient with the top performers
Cons:
- Trades are only made through affiliates
- Limited cryptocurrency and commodity trading options
Features
- Social Trading Review
- Security
- Regulation
3. Naga Markets
- Naga Markets is a Germany Copy Trading platform.
- You can not only offer CFDs but you can also copy cryptocurrency positions at Naga.
- Naga does not require any minimum deposit to use its platform.
- The minimum deposit is the highest, and the copy trading earnings will be higher for signals providers with Naga.
- To test the copy trading service Naga offers a demo account.
pros:
- Large range of trading instruments.
- You have the opportunity to earn passive income by using the social trading platform, PAMM (Multi-Account Manager), and MAM accounts for investing in and participating in affiliate programs.
- NAGA has been registered with CySEC (Cyprus Securities and Exchange Commission), an authoritative European regulator.
Cons:
- Spreads high on standard accounts.
- No trading bonuses, such as a welcome bonus or account replenishment.
- There are limited payment options for replenishing balances and withdrawing funds.
- The broker doesn’t offer cent accounts.
Features
- Regulations: CySEC (Cyprus)
- Supported Languages: English, Spanish, German, Portuguese, Czech, Hungarian, Italian, Polish
- Products (CFD): Currencies, Commodities, Indices, ETFs, Stocks, Futures, Mutual Funds, Crypto
- Min Deposit:$50
4. Darwinex
- Darwinex is a copy trading platform, inspired by mirror trading platforms.
- Darwinex’s Copy Trading System is one of the most advanced available.
- Signal providers can develop automated trading strategies that can be copied by their followers.
- While Darwinex offers a demo account you will need to make a minimum investment of 500 before opening a real account.
Pros
- Unlimited trial
- Covers all fees you might encounter
- Very low trading expenses
- Social trading facilitated by a proprietary platform
- Advanced Services for Signal Providers and Copy Traders
Cons
- The average deposit is greater than
- Base service
- Deposit and withdrawal fees
- This may seem a bit confusing at first
- Expires after 30 days of inactivity
Features
- Education and Training
- Customer Support
- Regulators-FCA
- Trading Desk-Meta Trader 4, Meta Trader 5
5. AvaTrade
- AvaTrade, an Irish fixed spread broker, offers a copy-trading platform through Pelican trading .
- European clients are not eligible for this feature. It is only available under B.V.I. The broker has FCA branches.
- Copy-trading can be done on MT4, while you can interact with the trader and choose to copy them on AvaSocial.
- You can also use AvaSocial to share your ideas, and comments and show off your accomplishments.
- AvaTrade also offers Duplitradeto traders.
Pros
- Quick and easy account opening * No forex or CFDs required
- No fees for withdrawals or deposits
- Great research tools
Cons
- Average forex fees
- High Inactivity Fees
- Only CFDs and forex are available
Features
- No withdrawal fee
- Bank card deposit
- Use an electronic wallet to deposit
- Mobile trading platform
- security
6. FBS
- FBS offers copy trading services through the FBS Copy
- This service is not available to European clients
- A minimum deposit is required to open an FBS copy trading account. It must be $100.
- The demo account is also available for FBS Copy. No deposit is required.
Pros
- Low stock and stock index CFD charges and no inactivity
- Quick and easy account opening
- Excellent customer support & education
Cons
- Few account base currencies
- There is no investor protection for non-EU clients
- Slim product portfolio
Features
- No withdrawal fee
- Minimum deposit:$1.2
- Bank card deposit
- Depositing using an electronic wallet
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7. HotForex
- HF Markets is a copy trading broker that is easy to use for beginners because it has a wide selection of educational content.
- The broker won many awards, including the Best Copy Trading Platform in 2019 award from Global Forex Awards.
- The minimum deposit to access HF Copy is $300.
- Sign providers To open an HF Copy account, you will need to deposit $1000.
- Strategy providers can make up to 35% on performance charges from HotForex.
Pros
- A solid broker with a good reputation!
- Leverage up to 1:1000
- Fast trade execution
- Low spreads starting 0. Pips
- 47 currency pairs
- MT4/MT5 + Webtrader
- Fantastic customer support
- No dealing desk
Cons
- There are no bonuses for EU-based traders
- Mainly focused on forex
- Base currencies are USD and EUR
Features
- Country regulation: Australia, Belize, Cyprus
- Low Trading fees class
- No withdrawal fee
- Minimum deposit : $1.2
- Bank card deposit available
8. Pepperstone
- Pepperstone offers copy trading services through Duplitrade
- The minimum deposit to gain access to it starts at $2000. However, it can vary depending on where the trader is located.
- While Pepperstone offers many trading platforms, Duplitrade only works with MetaTrader4.
- With Pepperstone signal provider will have the ability to open positions as low as 0 pips.
Pros
- Open a digital, fast account
- Great customer service
- Easy and seamless withdrawal and deposit
Cons
MetaTrader platform is basic
Most CFDs offered
Features
- Country regulation: UK, Germany and Australia, United Arab Emirates. Bahamas, Kenya
- No withdrawal fee
- Bank card deposit
- Electronic wallet
- Demo account provided
- Products offered Forex and CFD. Crypto
9. OctaFX
- OctaFX’s copy-trading platform is compatible to MT4
- OctaFX offers a mobile application for monitoring your followers and the performance if your investments.
- To register as a sign provider, you will need to first open an MT4 account. Then, you can apply to OctaFX for a position as a signal provider.
Pros
- Scalping is easier because of the low spreads.
- OctaFX does an excellent job of providing liquidity in the market
- Scalpers rely on their fast execution speeds.
Cons
- Very limited amount of tradable assets
Features
- Security
- Regulations
- Scalping Review
10. Vantage
- Vantage provides three options to copy trade: ZuluTrade and Duplitrade.
- You must deposit a minimum of $200 to open a copy trading account with Vantage.
- You need at least $2000 to open an account with duplicate
- You can trade more than 300 assets with Vantage on MT4.
Pros
- Low fees
- Superfast account opening
- Easy withdrawal and deposit
Cons
- Limited product selection
- Better customer service
- Only in the UK
Features
- Country regulation: Vanuatu but Vantage Group has regulations Australia, UK, Cayman islands
- Bank card
- Online deposit with an electronic wallet
- Supported base currencies: 9
Conclusion
We have reviewed the 10 best forex copy trading platforms. They vary in terms of features, but they all have one thing in common. They make it easy to execute successful trades. So whatever your trading style, we recommend using one of these platforms to help you achieve your investment goals.
About Author
- I’m a firm believer that information is the key to financial freedom. On Coindecimal Blog, I write about personal finance and crypto.
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