It is possible for investors to “copy” the trades of a seasoned pro through a copy trading platform.
Thus, the user’s portfolio will mirror the trader’s in every respect, allowing for hands-off trading. We’ve compiled a list of the top copy trading platforms available right now so you can make an informed decision and check out pepperstone review.
Best Copy Trading Platforms 2022
In no particular order, below are some of the best copy trading platforms available today:
We looked at some competing copy trading platforms, and eToro emerged as the clear winner. Thousands of certified traders on eToro can be imitated with a single click, making it possible to find an investor who aligns with almost any investment objective. It is also one of the few top-tier Islamic brokers supervised by many monetary agencies.
Each trader requires only $200 allotted to them at a minimum. You don’t have to pay anything extra to “copy” a trader also means you don’t have to negotiate a cut of their profits. Our favorite feature of eToro is its variety of filters for locating an appropriate trader.
Traders can be found in many ways, depending on a user’s preferences for the asset class, risk tolerance, maximum drawdown, and more. Once a trader is chosen, and the position is verified, the investor’s eToro portfolio will automatically reflect the trader’s purchases.
After eToro, AvaTrade is our pick for the most OK CFD broker to use with a copy trading platform. More than 1,250 different assets can be traded as CFDs on this platform. AvaTrade does not provide its copy trading functionality, but it lets users connect with external services.
The user must next choose an intermediary and an investor to model after. Traders interested in adopting a hybrid approach incorporating copy trades and their insights could find AvaTrade appealing. The reason for this is that AvaTrade provides traders with the ability to purchase and sell CFD instruments with zero commission and low spreads.
In the realm of social trading, ZuluTrade has earned a stellar reputation. It has an intuitive design that will win over all stripes of investors. Users of ZuluTrade, a platform that facilitates “copy trading,” will have access to a wealth of information.
This should give you a good idea of how each trader has fared since signing up with ZuluTrade and the kind of assets they prefer to invest in. We enjoy that traders on ZuluTrade can access many different types of tools and modify them to their needs. For illustration, the Automated application enables users to place stop-loss and take-profit orders on the traders they imitate.
Similarly beneficial is DupliTrade, another clone trading tool. You can access and replicate sophisticated trading methods with the help of this service provider. Each copy trading method has the market it aims to serve, its risks, and potential rewards.
The EUR/USD currency pair is the sole target of attention in the wave trading method. Conversely, indices are heavily weighted in the robust strategy. You can easily compare each strategy’s historical net profit, trade frequency, recommended leverage, and other key metrics with the provided charts and graphs.
NAGA is the following recommendation from our top social trading platforms list. As a regulated online broker, this service eliminates the need for users to sign up for a different platform just to gain access to its copy trading features.
By copy trading on this platform, investors can mimic the actions of those who already utilize NAGA. The open stock market is just one of the many markets that may be accessed through this platform. Contracts for difference (CFDs) are also available so that you can trade foreign exchange, cryptocurrency, indexes, commodities, and futures.
FXTM trading fees
FXTM has many account tiers, each with its own set of costs. We experimented with an ECN account, which features low spreads but requires a commission. The commission is cheaper with a larger ECN account balance and more trades. We determined the fee for accounts with balances between zero and two thousand nine hundred and trading volume of less than one hundred million dollars.
We recognize the challenges involved in comparing CFD providers’ trading fees. How did we solve the issue of making their pricing transparent and easy to reach? We evaluate brokers by determining the total cost of a transaction for a set of goods.
We have selected widely held examples from each asset category:
- Trading in the SPX and EUSTX50 stock indexes via Contracts for Difference
- Apple and Vodafone CFDs
- Foreign Exchange: EURUSD, GBPUSD, AUDUSD, EURCHF, and EURGBP
Typically, a trader will purchase a leveraged position, hold it for a week, and then sell. We decided on a $2,000 position size for the stock index and stock CFDs and $20,000 for the FX transactions.