Copy trading is a trading method in which you can automatically copy the trades of experienced and successful traders. This allows you to benefit from the expertise of seasoned traders without needing to manage their trades actively. When a trader you are copying makes a trade, the same trade is executed in your account in real time. It is typically proportionate to the amount of capital they have allocated to copy trading. This method is commonly used in forex, stocks, and cryptocurrency markets. There are a lot of applications and websites that offer copy trading platforms.
Additionally, TradingAccademy is a premium website that offers copy trading services.
Best Copy Trading Platforms
Copy trading platforms are online services that facilitate the process of copying trades from experienced and successful traders. Here are some popular copy trading platforms:
eToro
eToro is a globally recognized social trading platform that offers various assets including stocks, forex, cryptocurrencies, commodities, and indices. It allows you to follow and copy the trades of experienced investors.
Features:
- Social Trading Network: You can interact with other traders, follow their activities, and gain insights from the community.
- CopyTrader™: It allows you to automatically copy the trades of top-performing investors.
- Variety of Assets: You can trade various financial instruments across different markets.
- User-Friendly Interface: It has an intuitive platform with a comprehensive dashboard and advanced charting tools.
- Educational Resources: eToro also offers tutorials, webinars, and a dedicated learning academy.
Fees and Subscriptions:
- Spread Fees: Vary by asset; forex spreads start from 1 pip.
- Withdrawal Fee: $5 per withdrawal.
- Inactivity Fee: $10 per month after 12 months of inactivity.
- No Subscription Fees: You only pay for the trades you make.
ZuluTrade
ZuluTrade is a social and copy trading platform that connects you with signal providers from various brokers. It offers a seamless way to copy trades from professional traders.
Features:
- ZuluGuard™: It protects you by automatically removing traders whose performance drops significantly.
- Comprehensive Trader Profiles: It provides detailed statistics and performance metrics of signal providers.
- Customization: You can customize your copy trading settings to match your risk tolerance.
- Auto-Trade: It has fully automated trading execution based on the selected signal providers.
Fees and Subscriptions:
- Service Fee: 0.5 pips per trade, in addition to broker spreads.
- Profit Sharing: Some traders charge a percentage of profits.
- No Subscription Fees: Costs are mainly associated with trade execution and profit sharing.
MetaTrader 4 (MT4) and MetaTrader 5 (MT5)
MT4 and MT5 are popular trading platforms known for their advanced technical analysis tools, algorithmic trading, and extensive trading capabilities. They support copy trading through the MetaTrader Signals service.
Features:
- MetaTrader Signals: It allows you to subscribe to signal providers and automatically copy their trades.
- Advanced Charting Tools: It provides comprehensive technical analysis with multiple indicators and chart types.
- Automated Trading: They support Expert Advisors (EAs) for algorithmic trading.
- Multi-Asset Trading: You can get access to forex, commodities, stocks, and cryptocurrencies.
Fees and Subscriptions:
- Signal Subscription Fee: Depends on the signal provider, typically a monthly fee.
- Broker Fees: Spread and commission fees depend on the broker.
- No Platform Fee: MetaTrader software is free to download and use, but brokers may charge fees.
Covesting
This is a copy trading platform integrated with the PrimeXBT exchange. It allows you to follow and copy the trades of top-performing traders.
Features:
- Performance-Based Leaderboards: It shows top traders based on their performance metrics.
- Risk Management: You can set stop-loss levels to manage risk.
- Diverse Asset Trading: You get access to forex, cryptocurrencies, commodities, and indices.
- Transparency: It provides detailed performance statistics and trading history of signal providers.
Fees and Subscriptions:
- Profit Share: Traders earn a share of the profits made by their followers.
- Trading Fees: PrimeXBT charges fees for trading activities.
- No Subscription Fees: You only pay for the trades you copy and any profit-sharing arrangements.
NAGA
Introduction: NAGA is a social trading platform that offers trading in different assets including forex, stocks, cryptocurrencies, and more. It combines social trading features with a robust trading environment.
Features:
- Auto-Copy: It automatically copies trades from top traders in real-time.
- Social Feed: You can engage with the community, share insights, and discuss trading strategies.
- Wide Range of Assets: You can trade across multiple markets including forex, stocks, and cryptocurrencies.
- NAGA Wallet: It also offers an integrated digital wallet for managing multiple currencies and assets.
Fees and Subscriptions:
- Spread Fees: Vary by asset; competitive spreads across different markets.
- Withdrawal Fees: Depends on the withdrawal method.
- Auto-Copy Fees: No additional cost for using the auto-copy feature.
- No Subscription Fees: You pay standard trading fees and spreads.
These platforms offer unique features and fee structures to cater to different trading needs.
Final Words
Jash is a Forex trader who provides copy trading services through his website, TradingAccademy. He has over 6 years of experience in the financials market and also offers trade signals of Gold, Forex, and Indices through his VIP Telegram channel. So, if you’re interested in getting signals or copy trading services, you can visit his website.
