Top 5 Best Forex Copy Trading Platforms to Watch

Copy Trading is a software program software that permits people inside the monetary markets to robotically reproduce positions opened and controlled with the aid of using any other decided-on professional trader.

This technique lets buyers duplicate particular techniques with the preferred leverage. You may want to make investments decrease or better than the advised allocation encouraged with the aid of using the approach owner.

Following is a handpicked listing of copy trading apps and systems with their famous functions and internet site links. The compilation includes both open-source (also known as free) and commercial (also known as paid) software.

Advantages of Copy Trading

There are many benefits to copy trading, right here we’ve protected only a few:

1. It allows first-time buyers to familiarize themselves with the monetary markets and advantage the self-assurance to alternate. 
2. It helps new buyers to discover ways to alternate, via way of means of looking at the moves of other, every so often extra skilled buyers.
3. It enables extra skilled buyers to participate in the market, even if they’re too busy, and now no longer capable of making investments in the time and studies they need to commonly commit to trading.
4. You can reproduce alternate on such as overseas change, stocks, commodities, and extra.
5. It creates a network of buyers, novices, and skilled alike, who can change ideas, and techniques, and endeavors to enhance their trades together.

Best Copy Trading Platform: Top Picks

1) PrimeXBT Copy trading

PrimeXBT is a copy trading platform that lets in buyers of all enjoy levels; from skilled to beginners alike. It enables Professional buyers to monetize their capabilities with the aid of using permitting others to replicate their strategies.

Features

• It allows margin buying and selling of cryptocurrencies and conventional assets.ou
• You can also set a forestall loss/take earnings order.
• It provides get entry to a huge variety of markets and gives 100+ buying and selling units a multi-function platform.

2. ZuluTrade

ZuluTrade supports over 40 forex brokers, one of which is our integrated solution (AAAFx). This allows investors with existing brokerage accounts to easily link new accounts through their existing brokerage firm.

This is one of the best copy trading platforms that help you filter brokers based on minimum deposit to start forex trading, mobile support, and more. ZuluTrade also allows login via Facebook, convenient for those who regularly log in to verify their account.

 Features

• You can download a table containing all simulated trades. Joining ZuluTrade is free and you pay only for the spreads on your trades. Allow investors to copy other investors’ portfolios
• You can also issue alerts when margin calls occur and download a spreadsheet of all simulated trades.

3. Etoro

Etoro is a replica buying and selling platform that became mounted in 2006 and is utilized by over 12000000+ traders. This reproduction buying and selling platform give Stocks, Commodities, Forex, CFDs, Social Trading, Indices, Cryptocurrency, Index-Based Funds, and Exchange Traded Funds (ETF). The eToro is one of the excellent social and replica buying and selling structures perfect for novice customers who decide upon to paste extra easy usability.

Features

• Trade and put money into pinnacle shares and ETFs.Build your crypto-primarily based total portfolio.
• Meet your investor’s Platforms: Web Trader, Tablet & Mobile apps account Types: Micro account Standard account Islamic account VIP account.

4. Meta Trader 5

Meta Trader five is an effective platform for the Forex market and Exchange markets. This quality foreign exchange reproduction alternate carrier company makes use of the MQL5 language, the automatic buying and selling software program that runs on your laptop and trades on your behalf of you.

This reproduction buying and selling platform let you open one hundred foreign money or inventory charts at a time, and the 21 timeframes allow complete and certain evaluation of even minor charge movements. MetaTrader five gives desktop, web, and cell variations of the platform. This one of the quality social buying and selling systems makes use of the MQL5 language, the automatic buying and selling software program that in general runs in your laptop and trades for you.

Features

• The best interface to improve charts and graphics is one of the quality replica alternate platforms that gives new quotes on orders fast, easily, and flexibly safe facts and manipulation of alternate are simple.
• It is a very brilliant visible show and the sedation and time frame.

5. AvaTrade

AvaTrade is one of the excellent foreign exchange replica buying and selling platforms primarily based totally in Ireland and controlled in Europe with the aid of using the Central Bank of Ireland. They are one in all just a few pinnacle foreign exchange agents to provide constant unfold foreign exchange buying and selling. Avatrade offers an intensive variety of replicas buying and selling and social structures so one can pick from.

This is one of the excellent replica buying and selling platforms that permits computerized real-time copying of buying and selling operations from one buying and selling account to another. It is to be had directly from the Meta-Trader five platform. The carrier major is simple: a dealer offers the public get entry to the offers they execute on economic markets, even as it additionally permits different customers to enroll in this signal. It mechanically the execution of subscribers’ buying and selling accounts.

Features

• It provides unfastened and paid indicators featured in the Signals tab of the MetaTrader platform.
• It Takes Control from anywhere in the world globally regulated first-rate foreign exchange replica buying and selling BrokerTrade Cryptos as CFDs.

Why Copy Trading?

Copy trading, which allows you to copy other traders’ positions, is becoming more and more popular these days. Many traders create “people-based” portfolios to invest in other investors rather than trading themselves.

Here are some reasons why copy trading is growing in popularity.

1. Save time: Copy trading saves time compared to manual trading. Therefore, traders who do not have the time or sufficient knowledge should opt for copy trading.
2. Education: Copy trading is also great for learning trading strategies. The platform also allows you to ask questions and read why certain trades were executed.
3. Access to Global Markets: Due to the limitations of traders, it is impossible to become an expert in all global markets. With the help of a copy trading platform, you will not be fooled by the financial markets. The copy trading method also provides exposure to the global market and provides a global knowledge base.
4. Diversification: A diversified portfolio can pose little risk and copy trading is one of the best ways to do this. This can help you copy trades from multiple investors and earn a good income every month. However, this is not possible without the right tools and even experienced traders have trouble with today’s finances. It is recommended to copy by scenario.

Conclusion

The best copy trading platforms allow users to passively invest in the financial markets. All you need to do is choose the right trader, copy it, and decide how much to invest. Getting started with eToro, the best overall copy trading platform available today, takes only minutes to open an account and the minimum investment is an affordable $200.  eToro is home to thousands of traders and supported markets including Forex, Stocks, ETFs, Indices, Cryptocurrencies, and Commodities.