Copy trading is the practice in which traders copy the trades of other traders directly to their own trading accounts. This is mostly achieved using social trading platforms which give traders access to the performance and strategies adopted by top forex traders, thereby choosing which trader to copy directly from.
Copy trading is a great way to get results as a trader irrespective of your experience. Proficiency in trading takes resources and time so a very good option that eliminates the learning curve and help the trader see result is copy trading.
The art of copy trading is a common practice among both new and experienced asset traders. New traders enjoy the privilege of watching experts and adopting their strategies. Experienced traders on the other hand like to recruit new followers and share their strategies with them for a token paid to them by the broker
This article provides clear cutting-edge information on the Best Copy Trading platforms.
This is one of the top copy-trading platforms founded by Leon Yohai and Kosta Eleftheriou in 2007. The motivation behind this platform was the drive and passion of Leon Yohai in creating and developing a software that has the capacity to allow him copy the trade strategies of successful traders.
The platform soon grew to be one of the most respected social trading platforms among professional traders. In 2015, it was awarded the EU Portfolio Management license by the European Union.“
Unique Features of Zulu Trade
- Access to free demo account
- Access to a wider range of performance indicators and graph
- All levels and types of trade are available at Zulu Trade
- Access to a wide variety of professional traders to follow actively and copy their strategies and brokers.
- Friendly to mobile applications, IOS and Android devices.
- Minimum deposit: no matter the broker used; Zulu Trade require a minimum deposit of just $1
- Payment options: ZuluTrade Mastercard, Bank wire transfer and Paypal.
Zulu Trade Copy trading platform currently allows users to buy and sell forex, binary, stocks, commodities, cryptocurrencies and options. You get the opportunity to clone the strategies of top traders using it.
On the platform, the Followers are called users, they have the right to copy the strategies of signal providers (traders who are willing to share and be copied by followers). As an active user, you are also permitted to clone the portfolios created by other users.
Some smart features are its user-friendliness and the Zulu Rank Calculator which helps users choose the best signal provider to follow and copy. The Zulu Rank Calculator ranks traders based on the following factors:
- High profits
- Age of signal provider
- Sharp ratio
- Amount of trade activity
Other interesting features users get using the Zulu Trade platform include:
- Profit Calculator
- Margin Calculator
- Economic Calendar
- Pip Calculator
- Currency Calculators
Your can sign up on ZuluTrade here. Please note that is an affiliate link and I’ll receive some compensation if you sign uo through my link.
Formerly known as RetailFX, Etoro is the first broker in the world of online trading to introduce the concept of social trading. The platform is a house hold name with respect to trading of asset. It is one of the most popular copy trading platforms. It specializes on copy and social trading, portfolio copy trading, automated client and in platform social sentiment data.
Etoro has an excellent, user-friendly interface. This makes it the best copy trading platform for traders irrespective of their experience. At this exchange, traders have access to a variety of currency pairs, ETFs, commodities, stocks and market adders. One interesting feature to note is that opening an account with Etoro is quite easy. Potential users have the liberty to either opt for a demo account for testing the platform or a live account.
Why Traders Prefer Etoro
- Minimum Deposit: the minimum deposit ranges from $200 depending on the region of the user. US users must deposit a minimum of $10000. Recently, an update shows that in Australia, a user could start with just $50.
- It is friendly to devices that support IOS and Android mobile applications
- Free ETF and stock trading in the EU
- User-friendly interface
- A user has access to the following depending on the Club membership level
- Credit line
- Dedicated account manager
- Daily market summary
- Market analysis
- Live webinars
- No withdrawal fees
- Trading signal platforms
- Financial times subscription
- Exclusive assets
- Waiver or Discounts on Exchange fees
- Invitation to Top Tier Industry Events
- Invitation to Diamond Gala event
Etoro affords the users the opportunity to earn extra cash by becoming popular investors. The minimum amount of deposit a user needs to become a popular investor is $1000. As a famous investor, you have to recruit a copier for at least 2 months with minimum $500 equity.
When a user meets these requirements, he will be rewarded with rebates and cash. One of the most outstanding features of Etoro is the CopyFunds section. This affords traders the privilege of copying different range of funds. It is divided into two main categories
- Market copy trades
- Top Trader Copy Funds
Low Withdrawal Fee
Etoro charges users withdrawal fee of $25 for every withdrawal made. The minimum withdrawal is $25. You can sign up with eToro here. It is my favorite copy trading platform and I’m sure you’ll love it. Please note that that is an affiliate link that earns me commission if you sign up through it.
This platform was founded by Thomas Wikker, Robert Lempka, and Mark P. Bernegger in 2009 in Zug. Ayondo is a Swiss Social Trading Platform that focuses on Copy Trading and has its offices in Frankfurt, London and Singapore. The reason this platform is popular is the consistent renumeration system of top traders. One of the ways traders gain visibility and make higher profits is maintaining low risk profiles.
Ayondo is an excellent copy trading platforms for beginners. The platform is divided into two main parts
- Trading Hub: for retail Trading
- Demo: for 21 days trial copy trading
Why Traders Choose Ayondo
- Minimum deposits: the minimum deposit depends on the broker used. It can be up to $2000.
- Instruments used: CFDs on commodities, oil, indices, shares, stocks, interest rates, ETFs, bonds, spread betting.
- User friendly interface
- Detailed trader’s performance data
- Great traders research tools
- Low risk providers are rewarded heavily
- Access to free demo account for all users
- Large number of CFDs
- Low investment for opening live account
There is an excellent research tool that helps to search for top traders based on some certain factors such as:
- Number of followers
- Ratio Win Trade
With Ayondo, you can view the trader’s current position in the open market. Traders are classified into 5 top categories
- Street Trader
- Risk adjusted
The platforms discussed above are good options for all traders seeking to get some results in their investments. It positions them to replicate the strategies of experienced traders with just a token which could translate to higher percentage profits.
The most amazing part of it all is that, even if you have no prior knowledge of how the whole process of trading works, you can still earn handsome rewards using the features available on these platforms. Nevertheless, bear in mind that, like all investments, there are risks of losses, so you must not invest funds critical to you.