Top 5 of the best copy trading platforms of 2023.
Investing has never been easier. Choose your master and copy his trading! Find out which broker is the most suitable for copy trading.
Ranking of the most popular Forex copy trading platforms of 2023
Trading is not easy, entering the markets with careful studies and accurate analyzes to find the right investment by exploiting one’s knowledge and experience is not for everyone.
Undoubtedly an arduous analysis, taking into account the risks to be taken and the (sometimes quick) decisions to be made.
For some years now, an innovative trading system has been revolutionizing the world of trading, a service that allows even those who do not have adequate knowledge and experience to invest successfully.
This incredible tool is copy trading.
In practice, copy trading allows investors to copy any trade made by an expert in the field.
In this way the “follower” (trader who has decided to copy) will not have to analyze the markets and engage in creating accurate strategies but can simply copy the positions of the trader whom he/she has decided to follow (that is signal provider or Master).
Contrary to other types of services offered for trading, with copy trading the customer will not have to provide his capital directly to the trader to copy.
Consequently, when the trader wants to copy an operation, the funds deposited in his account will be used, as if he had invested himself without anyone’s help.
In order to actually take advantage of this type of service, the trader will simply have to connect to a copy trading platform and choose the signal provider from which to copy the operations.
For example: let’s assume the signal provider decides to go long on EUR/USD with 1 standard lot of volume and opens the position in his account.
It will happen that:
- The platform receives the order from the master trader.
- The platform executes the same order to followers’ accounts.
There are numerous platforms in the world that offer a copy trading service, each with its own characteristics and a variety of additional tools.
Which of these should you choose? Which is the most reliable platform?
In the next list, you can learn about the best platforms for copy trading which, in our opinion, offer a leading service in the sector.
ZuluTrade is undoubtedly the pioneer in providing this type of service.
Without a doubt, one of the most innovative and famous Copy & Social Trading platforms in the world.
The wide range of technologically advanced services and tools allow the trader to invest through copy trading with extreme ease and fluidity on Forex, Indices, Commodities, Shares and Crypto CFDs.
The platform with which it will be possible to start investing is ZuluTrade+.
The software has an intuitive and easy-to-use interface and is available in both desktop and mobile versions for Android and iOS devices.
Regardless of the version chosen to trade, the client will be able to take advantage of all the services and tools for copy trading offered by ZuluTrade.
The software allows you to view a wide range of profiles of other traders and possibly interact with them in many ways: comments, data and statistics to be able to know any type of useful information, followers and total amount invested, etc,.
The platform structure is clear and easy to use and allows you to know if the trader you have decided to follow uses Automated Trading, with which broker he operates and since when he has been investing with Zulutrade.
Furthermore, by consulting the social charts, the trader will be able to study in real-time all the opening and closing operations of a specific trader.
ZuluTrade+ is also very versatile, in fact it allows customers who use Metatrader4 to carry out any operation in the same way which will automatically be copied instantly on the ZuluTrade+ platform.
- Traders who decide to use ZuluTrade will be able to connect their account and provide opportunities for other investors to use their trading strategy.
- The company categorizes traders based on performance, stability, behavior and outlook.
- Clients will have the ability to select and compare traders based on capital invested and risk appetite.
- There are thousands of “Signal Providers” available in the Zulutrade list, and being spread all over the globe they are active in every time zone.
- The service is suitable for any category of traders. Both professionals and novice investors will be able to take advantage of investments on financial markets open 24 hours a day without having to be glued to their PC.
- By registering on ZuluTrade, the investor will be able to link his account and funds to a composed list from over 100,000 Signal Providers. Expert traders in the sector who create extremely accurate strategies that the client can automatically copy at any place and time without having to engage in exhausting market analysis.
In order to start using the Copy Trading service offered by ZuluTrade, you will need to follow the next simple steps:
- Register for free on ZuluTrade.
- Choose the trusted Forex broker to open an account with. ZuluTrade is a partner of numerous online brokers, among which we can distinguish AAAFX, IC Markets, PepperStone, FXCM, EverFX, SwissQuote, AvaTrade, AxiTrader, FXOpen, InstaForex, VantageFX, and FXDD. The trader can opt for a broker compatible with his needs and suitable for his investment style.
- Carefully select the signal provider from which to copy trades.
- The opened account will start copying the trades executed by the selected signal provider automatically.
It is important to point out that if the trader wishes to test the services offered by Zulutrade without risking his own capital, he can open a completely free Demo account which has the same characteristics as a real account.
Among the wide range of tools available on the platform, ZuluGuard, Zulutrade Automa and Zulutrade Combos are undoubtedly worthy of note.
Considered by most traders essential for any Copy Trading operation for the trader’s protection and for the protection of trading risks.
- It is an extremely functional tool with the aim of safeguarding accounts. In practice, ZuluGuard constantly monitors the trader’s work and if a non-compliant trading strategy is detected, the system will provide for its immediate removal. It works like this, the software automatically calculates the trade exit values for each open trade in the client’s account based on the graph recording the best/worst trading levels. The moment the red line crosses the blue line, ZuluGuard will close all open positions and immediately replace the unsuitable trader with another with a higher ranking score. The service is mainly based on three aspects: ZuluGuard Take Profit, ZuluGuard Capital Protection, ZuluGuard Capital Protection Notification.
- Not all traders have the ability to constantly follow their own operations, work and other chores, for example, prevent the investor from correctly managing his work. Automa is a software that solves this problem. Created for traders who don’t have the possibility to study with accuracy and constancy in the markets and for beginners looking for new experiences to increase their potential, automated trading allows you to invest in the markets using preset commands to enter and exit the markets. The trader will have the possibility to set all the main parameters that will allow to process the operations, such as opening orders, trailing stops and take profits. Furthermore, Automator trading allows you to carry out many trading operations in a short time, without uncertainties or conflicting emotions that usually condition traders’ decisions. In summary, the trader sets his own strategies, the Automator will work accordingly.
- Combos are groups of traders composed of individuals with similar trading characteristics but with different risk appetite, a win rate greater than 30%, over 100 trades executed, more than 15 weeks of trading, positive ROI over the long term. The trader will be able to choose the group managed by the ZuluTrade Certified Portfolio Management Team that best suits his needs.
2. eToro CopyTrader
A leading and strictly regulated broker in its field could only offer an impeccable copy trading service.
Thanks to the use of advanced technologies and the creation of cutting-edge software, eToro has literally revolutionized the copytrading sector allowing any investor to trade like a real professional.
Most brokers that provide a copy trading service make use of external platforms that traders can connect to in order to copy the desired signal.
eToro has eliminated this step, processing orders within their own servers without any outside interaction.
This feature allows the broker to group signal providers and copy traders within the same platform, without necessarily having to send trading signals to other platforms.
- Instant copy trading
- Regardless of the level of experience of the traders, they can dedicate their investment operations on eToro. The eToro CopyTrader service allows you to instantly and automatically copy the operations of expert signal providers in the sector and replicate them immediately in the wallet.
- Zero management fees
- By opening an eToro real account it will be possible to start copying signals from top traders without having to pay additional costs or hidden fees. In fact, traders who allow their trades to be copied are regularly paid through the Popular Investor Program.
- Platform for multifunctional copytrading
- In addition to the copy trading service, the eToro platform allows traders to increase their knowledge and experience by accessing communities where it will be possible to share information with traders of any level. The software allows you to view millions of portfolios, statistics, risk scores of other traders and much more. In this extraordinary community, customers will be able to chat with whoever they want, study winning strategies and expand their knowledge.
eToro’s CopyTrader is simple and intuitive.
And having found the trader to copy that best suits your style, just click and let copy trading do the rest.
But although CopyTrader is a software that works in complete autonomy, the customer will always have full control over the management of his operations and his portfolio.
In fact, it will be possible to stop copying, pause it and add or remove funds at any time.
In the event that the trader wants to test the potential of the service without having to risk capital, he can opt for opening a demo account.
$100,000 of virtual funds will be paid through which the customer will be able to practice and learn about the benefits of the service.
3. HFM (HF Markets)
Renowned legally regulated international broker that has numerous solutions to benefit the traders in their tradings.
Over 3500 instruments to invest in, ultra-low spreads, extremely secure fund management and no commission on deposits are just some of the features offered by HF Markets one of the best brokers in the world.
Among the many services offered, one prevails over all for popularity, efficiency and ease of use: HFcopy.
A copy trading service that breaks down geographical boundaries and allows traders of any experience level to interact with each other in order to achieve a common goal, profit.
A technologically advanced tool allows traders to make use of the work of professionals in the sector by automatically copying their strategies, with maximum transparency, effectiveness and protection.
In order to access the service, the interested trader will simply have to open an HF Markets account, choose the trader to follow and copy that reflects their needs and style and start investing.
Following are the main features of the HFcopy service.
- Full account control
- The client will be able to monitor his trades at any time, choose an appropriate level of saving and make a withdrawal when deemed necessary.
- The software will copy the trades automatically saving you valuable time and without having to carry out lengthy market analysis or create strategies.
- More signal providers more chances of profit
- Each client is allowed to use more than one strategy provider and consequently copy different trading styles so as to create a diversified portfolio based on the people he has decided to follow. After deciding which signal provider to follow, the follower will need to carefully choose the risk level and volume allocation percentage for their account. In order to be able to follow other strategy providers, the client will first have to choose to unfollow the current signal or alternatively open a new Follower Account. Each customer can open a maximum of 10 different accounts in order to use the service.
- Clear deposit conditions
- To be able to open a Follower account, the client must deposit a minimum of 300 USD, unless the signal provider has agreed on a different amount. In addition, it will be possible to know the minimum opening deposit amount by visiting the performance page. Despite this, it is important to know that the minimum deposit of funds will not be less than 50 USD. In the event that the follower’s account equity falls below the threshold of 5 EUR and there are no open positions, the account will be “banned” from the respective strategy provider’s account and the remaining funds in the client’s account will be transferred in myWallet account.
4. AdroFX (Allpips)
AdroFX Offers a copy trading service using one of the most popular and efficient platforms: Allpips.
The platform is available on any device such as PC, MAC, mobile phone or tablet so that you can operate at any time you deem necessary.
AdroFX and Allpips, a perfect combination to be able to take full advantage of markets around the world.
- Full control in trading
- The software allows the customer to be able to check his own operations and funds deposits at any time.
- Wide range of traders
- A community made up of thousands of traders and investors ready to interact to maximize profits.
- Investing is easy
- To get started, the trader simply has to fund his account using the wide range of payment methods available.
As mentioned, Allpips is one of the most used software for copy trading due to its functional and advantageous features.
Extremely intuitive and easy to use software that features unique checklists, multiple windows, and a wide range of visual styles.
In addition, each customer will have the opportunity to use constantly updated graphics and technologically advanced tools for accurate and fast technical analysis.
But the most important feature of the platform is undoubtedly the transparency.
Allpips of AdroFX allows the client to view in real time the work of traders and this will allow you to quickly find the most suitable signal provider for your needs.
Once the compatible supplier has been found, just click on “follow” and you’re done.
Having full control, each customer can decide whether to operate manually or automatically.
- Manual copy trading
- Very similar to “classic” trading methods. By selecting this mode, the trader will be able to decide who to follow and which operations to copy.
- Semi-automatic copy trading
- This feature allows the client to view the trading of the chosen signal provider and decide which operation to copy and trade automatically or manually. Each operation must be pre-set to be able to start automatically. The account belongs to the trader, the software does not have full control.
- Automatic copy trading
- Without a doubt the best that AdroFx offers to its clients. The trader will only have to choose the signal provider and the strategies compatible with his style. Subsequent positions and trades will be executed automatically.
To start using the service, just follow the next simple steps.
- Choose the signal provider that fits your style
- Using the tools provided by the AdroFx platform, the customer will have the possibility to filter and find the trader that best suits his trading needs. With one click you get to know all the characteristics of the supplier, number of followers, profitability, level of risk, total amount of funds they manage and much more.
- How much to invest
- The trader will have to decide with extreme accuracy the funds to invest in order to diversify his portfolio.
- Start copying
- The copy trading platform will automatically copy all positions of the selected signal provider into the client’s account.
- Increase funds
- In the event that the client has assessed that the signal provider he has decided to follow is extremely valid, he can opt for adding more funds to invest. It is advisable not to invest too much capital on a single trader but to diversify your portfolio to reduce the percentage of risks. Each client will be able to open a separate investment account for each trader he decides to follow.
LiteFinance is an internationally renowned broker that cares about innovation and offers its customers up-to-date tools and cutting-edge services.
Among them, the social platform for copy trading is undoubtedly noteworthy.
The LiteFinace’s automated copy trading system features an intuitive and easy-to-use structure that allows traders to copy the best trades, trade independently, share information and chat with traders around the world.
Through the Social Forex Trading system, each trader can take advantage of the experience of leading professionals in the sector and professional traders can share their own operations, both with the aim of achieving a common goal, maximum profit.
By taking part in a dense network made up of thousands of traders, the investor will have the possibility of copying the operations he deems advantageous by synchronizing his account.
The Social Trading platform has as its main objective the creation of a heterogeneous community, through which anyone will have the possibility to find what they need to satisfy trading needs by making use of the experience and work of others to reach their own goals.
It will not be necessary to create accurate strategies or carry out complicated market analyses, by copying the operations each client will earn when the professional earns.
For each successful trade the signal provider (trader you have decided to follow) will receive additional income in the form of a commission.
- Invest without wasting precious time.
- Copy the operations of leading professionals in the sector.
- Ability to interact with traders to share experiences and knowledge through the use of the chat option.
- The platform allows you to subscribe to analysis, signals, Forex blogs or personal channels of experienced traders.
As for the costs, the trader who will copy the selected trader’s trades, in case the copied trades are successful, will have to share a percentage of the profit in the form of a commission with the trader.
The cost of the commission to be incurred will be established by the professional who has decided to follow and the trader will be able to view it in the ranking.
How to start copy trading with LiteFinance?
Follow the steps below to start investing with LiteFinance.
- Register on the Social Trading platform
- In order to have access to the service, the customer must complete the quick registration and make a first deposit using your preferred payment method.
- Choose the trader to follow from the rankings
- To select the trader to follow, the customer must access the “Copy” section and by going to the “Order” option, it will be possible to choose the most suitable trader for his style.
- Start copy trading
- To start copying operations you will need:
- Visit the profile of the selected trader, click on his avatar.
- In the “Information about the trader” section, the client will be able to see advice for copying and chat with the trader for more details.
- You can now set up the copy and start it.
- If deemed necessary, it will be possible to change the settings or stop the operation in the “Wallet” at the bottom of the page.
- You can also copy more trades from more traders to diversify your portfolio and reduce your risk of loss.
- Acquire information and gain experience
- Using an expert trader, the customer will be able to acquire the information necessary to trade and expand their experiences.
4 types of copy trading mode on LiteFinance
The Social Trading platform allows clients to use 4 trading methods:
- Full size copying 1 for 1
- This type of copy trading assumes that the volume of a copied trade in an investor’s account and the volume of the respective trade in a trader’s account are identical. For example, if the trader has opened 10 lots, the same operation will be performed on the trader’s account.
- Copying a fixed size of each trade
- By this type of operation, the volume of copied trades can be changed in the settings. Consequently if the client sets a “Fixed copy size” equal to 2 lots, even though the trader opens 5 lots, 2 lots will be opened in the client’s account.
- Copying a predefined % of each trade
- The volume of an operation that has been decided to copy will be a percentage of that traded on the trader’s account. In practice, if the trader sets a volume of 50% and the trader opens 5 lots, 2.5 lots will be opened on the client’s account. the percentages vary from 1% to 10,000%.
- Copying a fixed share of copy trader’s equity
- With this type of copy, the volume of the operation copied to the customer’s account will be set on the basis of the capital ratio of the investor/trader’s assets. The quota volume used by the trader can be viewed in the copy settings. In the event that the client wants to use the “All Equity” option as copy capital, it will be equal to the amount of funds in the professional’s account at the time of the copy. The volume of a trade to be copied is calculated as follows: Trade volume in the trader’s account * copy equity / trader’s equity = trade volume in the investor’s account