12 Best Crypto Copy Trading Platforms In 2022 For New Traders

It is common for project founders’ information to be found on social networks like LinkedIn or AngelList. This article explains copy trading platforms and the five most essential tips to choose. There are now hundreds of platforms that allow crypto investors to copy-trade. Beginners are apprehensive about this area since there are so many functions, and their value is unclear. As a newbie investor, you’ll want to know what to watch out for when choosing a platform.

MT5 charges a monthly subscription fee for this that will vary depending on your account and the specific trader you are copying. When the algorithm spots a profit-making opportunity, it will proceed to place a trade. This allows you to sit back and day trade around the clock without needing to do any research or place any orders. There are, however, two main considerations that you need to make when using this top-rated copy trading platform.

If you are more risk-averse than the trader you are following, you can limit the risk per trade. Imagine what if you could open the same traders as professional investors. Replicate the trading activities of financial experts and earn a passive income without spending time researching every investment you make. Gate.io is another platform that allows its users to copy crypto traders and use their strategies to earn returns. This platform supports more than 500 cryptocurrencies as well as more than 1000 trading pairs. Copy trading itself is free, and most providers won’t charge you additional fees for this service.

It includes a demo account, copy trading, and other unique features to cater to the needs of all. OctaFX offers to trade on MT 4 and 5 platforms available on Desktop, IOS, Android, and the web. Principal traders can allow others to copy their strategies and trades via the Bybit platform to profit from their work.

Minimal Investment

Like many of today’s best crypto copy trading platforms, 3Commas supports several exchanges and uses secure cold wallets for storing customer funds. All in all, they have a good variety of bots and strategies to select from, a beginner-friendly interface, and a solid reputation — which is all good news for newer traders. Another reason crypto copy trading is beneficial for new traders is the minimal investment needed to get started.

You may see how many are already following and copying their positions. It can be used to trade crypto, Forex, stocks, commodities, metals, and other financial markets. The latest award it receives is a recognition of its superb trading environment. The acclaim it garnered over the years is a testament to its excellent performance, valuable platforms and features, and good standing in the industry.

In addition, we’ll discuss its benefits and drawbacks, as well as provide a short list of the most popular options. TechBerry neural algorithm trades on the forex market and generates high gains each month by using its special neural algorithm. It formulates a perfect strategy by incubating data from over 100 thousands trading accounts shared by professional traders. The win rate is high with a low relative drawdown value and a suitable profit factor.

Is Copy Trading Legal?

Decoin is a copy trading platform that offers live-streamed sessions with expert traders on the platform. The platform is still in its early stages, but it has already garnered a lot of attention from the crypto community. WunderTrading has multiple features that make it a valuable tool for cryptocurrency traders, especially copy traders. Most crypto-enthusiasts probably know WunderTrading from its algorithmic trading bots that can be connected to the most popular exchanges on the market.

The website is available in several languages such as English, French, Spanish, etc. The broker has extensive copy trading software that comes with the ability to backtest the performance of the desired trader. With the help of the social trading network chart, investors can witness the portfolio of multiple signal providers.

Poor traders try to chase their losses by employing martingale kind of strategies or trading more frequently with the hopes of winning the profits back. On the other hand, professionals stick with their tried and tested systems. Not to forget, ensure your trader has been in the game for a while. Anyone can start with a small amount of money, take some risks, get lucky, and make money a few months in a row. As time goes by, however, it gets more difficult to maintain such results. A trader with a minimum social trading history of one year is safer to follow.

Reading user reviews about a certain platform will help you make the right choice. Yes, copy trading is legal in most countries, provided that the broker itself is properly regulated. When investing in the financial markets using a regulated-broker and legalizes your account and the traders carried within them. However, all of these completely depend on your country that you are living in.

On What Basis Do We Choose A Copy Trader?

Before you begin distributing signals and billing copiers, be aware that additional paperwork may be required. Finding traders that have a proven track record and a trading style you like is also made much easier with a solid platform. Copy trading forex is a wonderful option for novices because it doesn’t require any trading expertise. However, it’s still a good idea to have help available when things go wrong. When deciding on a platform for copy trading, keep in mind the quality of the company’s customer service.

Pepperstone was launched in 2010 and currently offers free access to three platforms, including MT4, MT5, and cTrader. Over 700 products are available to trade across a wide range of asset types, including Forex, CFDs, and commodities. Most orders are processed in under 30 milliseconds, suiting scalpers and clients who run EAs. Even if you’re happy with your profits, by constantly relying on copy trading, you may be missing out on even more money. The cryptocurrency industry is always evolving, sometimes day by day.

• It is therefore worth considering what payment options are available and if they meet your needs.
• To ensure you select a copy trading system that best meets your needs, we would suggest reviewing the following sections.
• The larger the user base of a social trading platform, the greater your choice of signals will be.
• However, traders move in and out of profitability all the time so you might need to swap between traders once you see that your performing trader is in a rut.
• Praised as one of the best software options for beginners, ZuluTrade enables you to create a diversified portfolio of stocks, forex, commodities, cryptos, and indices.

In light of this, you might wish to keep your position open for longer than a day. In addition to the platform, spread, commission and overnight swap fees, there may be additional fees for account inactivity, funding and more. You should check to ensure that you are aware of and understand all of the potential fees that you can incur. Trade various financial markets online without needing the time, knowledge or skills usually required.

The Best Copy Trading Platform

This guide has reviewed the best copy trading platforms to consider in 2022. We have covered everything from copy trading brokers, automated robots, signals, and third-party https://xcritical.com/ platforms like Mirror Trade and Duplitrade. While all of the providers discussed today are worth considering – we found that the overall best copy trading platform is eToro.

We do not provide investment advice, offer or make solicitation of any investment products. The commission you pay for your trading activity can vary from broker to broker. Some trading strategies such as scalping rely on small price movements and thus performance can be affected by commission. It is important to consider the overall costs you will incur and the affect that will have on your trading strategy. As with any trading or investment strategy, you can lose all of your capital. Copy trading is considered high risk with absolutely no guarantees of past performance repeating itself.

This includes the end-to-end process of analyzing the markets, performing research, and placing orders. This allows you to automate your trading endeavors based specifically on your desired strategy. For example, you might come across a strategy that focuses on scalping. This will see the copy trading tool place dozens of low-risk buy and sell positions throughout the day when an asset is stuck in a tight pricing range. Although leverage trading can result in substantial returns, it can also work against traders. Leverage will significantly exacerbate the potential losses, for instance, if the currency underlies one of your trades swings against what you anticipated would occur.

This is something that most traders look past when they see this opportunity. Think about how much it would cost to hire a personal trader who handles your crypto holdings. Yes, there is a revenue share in terms of profits and losses but there is no downpayment to get started. When choosing a crypto copy trading platform, there are several factors you should take into account.

We may use this technology to link a personal exchange account and manage money without transferring them to third-party services. It can be hard to know where to start when it comes to finding the right copy trading platform. There are so many options out there and getting it wrong could risk losing your hard-earned cash. For over what is copytrading a decade, I’ve been researching, testing and reviewing hundreds of copy trading services to find the genuine investment opportunities. You can jump straight into the genuine investment opportunities, beginning your copy trading journey the right way. Minimum deposit – Most copy trading services will require a minimum deposit.

Open Trades

The trader should be able to see the maximum drawdown of the copy trader’s risk management approach. It has a thriving investment community and is great for social trading. Also, financial news and market analyses are disseminated at breakneck speed thanks to social media and an ever-expanding web. On their page, you will see all the details of your copy investment.

Best Forex Brokers 2022

An excellent place to look for reviews is Trustpilot or Bitcointalk. Even if the same approach is utilized, the drop is likely to happen again. A trader’s portfolio description in CopyPip displays the trader’s greatest drawdown. In FX market, a drawdown occurs when the equity balance is less than the account balance and vice versa.

Remember, drawdown is not an actual loss but rather the loss seen before your social trader begins to make profits again while the trade remains open. An actual loss would be the loss seen when the trade is finally closed. However, this can also be due to market conditions and/or having a long-term investing strategy .

You can set stop loss and take profit limits to secure your trading profits and limit your losses. The eToro is one of the best social and copy trading systems ideal for beginner users who prefer to stick to more simple usability. Multi-asset platform with support for Stocks, ETFs, crypto, Indices, etc. More so, examine how they behave, especially during or after a bad run.

It allows investors with existing brokerage accounts to link a new account via their existing broker easily. With the launch of the new feed feature, traders can now post their speculations on future trends and insights, thus encouraging interactions between copy traders. BingX’s copy trading system also supports DeFi, NFT, Indices, Commodities, Forex and Layer2. In order to display trader’s performance in a more comprehensive way, BingX traders now can enrich their homepage by accessing another exchange’s API. Naga is a copy trading platform that automatically copies your trade.