Before you learn about the best copy trading platforms, let’s understand what is copy trading. Simply, copy trading enables you to copy another trader’s strategy instantly. You decide how much to invest and just replicate what they do in real-time. Thus, when that trader chooses to act, your account follows suit.
The following are the top four copy trading platforms:
AvaTrade
AvaTrade is a leading forex copy trading platform located in Ireland and regulated by the Central Bank of Ireland in Europe. They are one of only a handful of top forex brokers who provide fixed-margin forex trading. You can choose from a wide range of copy trading and social platforms at Avatrade.
This top copy trading software enables automatic real-time copying of trading activities from one trading account to another. It is accessible directly from the MetaTrader 5 platform. The service principle is straightforward: traders make public the transactions they conduct on financial markets while allowing other individuals to subscribe to this signal. It executes trades on subscribers’ trading accounts automatically.
Naga
It allows you to find other investors’ stats on the scoreboard and choose who to copy to maximize your trade profit.
FXTM
This is a global ECN broker with a strong presence in Asian and African markets. They provide a wide variety of account types.
For a minimum deposit of $100, this copy trading platform also provides the FXTM Invest service. Additionally, you can begin emulating elite traders at FXTM, which significantly simplifies copy trading.
eToro
Etoro is a platform for copy trading started in 2006 and is used by more than 12,000,000,000 traders. Stocks, indices, commodities, forex, CFDs, cryptocurrency, social trading, index-based funds, and exchange traded funds are all available on this copied trading platform (ETF).
eToro is one of the most potent social and copy trading platforms for beginners who prefer a simpler user interface.
PrimeXBT
PrimeXBT is a copy-trading platform that allows traders of all experience levels, from novices to professionals, to participate. It assists professional traders in monetizing their expertise by enabling others to replicate their ideas.
ZuluTrade
ZuluTrade works with more than 40 forex brokers, one of which is their integrated solution (AAAFx). It enables investors with current brokerage accounts to link a new account effortlessly through their existing broker.
This excellent copy trading platform allows you to filter brokers based on minimum deposit to start forex trading, mobile support, and other factors. ZuluTrade also supports Facebook login, which is convenient for individuals who frequently check their accounts.
MetaTrader 5
Meta Trade 5 is a robust trading tool for the Forex and exchange markets. This top forex copy trade service provider employs the MQL5 programming language, which is used by algorithmic trading software that operates on your computer and trades on your behalf. This copy trading tool lets you open 100 currency or stock charts simultaneously. The 21 periods allow for in-depth research of even slight price fluctuations.
MetaTrader 5 is available in desktop, web, and mobile versions. This best social trading platform uses the MQL5 language, which is used by the automated trading application that operates on your desktop and trades for you.
BingX
BingX is a copy trading website with over 1 million members in over 100 countries. BingX offers over 100 cryptos, including Bitcoin, Ethereum, Dogecoin, Safemoon, and Solana. To decrease risks, users can use a demo account for copy trading. Users can learn techniques while profiting by using vital indicators such as trader’s account assets, 30D Profit Rate, cumulative P&L, and Max. Drawdown, and so on.
With the introduction of the new feed function, traders may now submit their predictions for future trends and insights, fostering conversations among copy traders. BingX’s copy trading technology also supports indices, Commodities, Defi, NFT, Forex, and Layer2. BingX traders can now enhance their homepage by leveraging another exchange’s API to display trader performance completely.