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Copy Trading – Top 10 Best Copy Trade Platforms and Review 2020

We have a list of the top 10 best social trading networks and we are still doing a list of the top copy trading platforms. There is a very good chance that people do not know that there is a difference between social trading and copy trade forex.

Granted, copy trading relies on the expertise of other more experienced traders to work, just like social trading. However, the difference lies in how the information is accessed and used.

Copy trade forex is a sub-category of social trading as a whole. In ranking the best social trading networks, you will find the best copy trading companies there as well, as long as they offer social trading in a specific way.

What does that mean anyway? Well, to answer your question, we have to know what copy trading is all about.

A Brief Explanation of Copy Trading

We can describe copy trading as a process where you can automatically copy every operation executed by another trader, to get the same results in your account.

With copy trading, you are not handing over your funds to a fund manager. You will be handling them yourself. The only thing you will be getting is the information about a trader of your choice and what they do. Then, you just copy what they do.

So, we have:

  • The market
  • The broker
  • The trader (he who has the best trade decisions)
  • The investor (that would be you. Also called a follower)

So, let’s find out the best places to do copy trade forex activities.

Copy Trading, copy trade forex

1. ZuluTrade

ZuluTrade, Copy Trading, copy trade forex

Open Live AccountWhen it comes to copy trading ZuluTrade is more deserving of the top spot, when compared to others. The reason for making it first in this list is because of the quality of copy trading that you will find here.

When using ZuluTrade for copy trade forex, you will have access to very high-quality copy trading platforms that has all the related services you will need, to make this easier for you. The system given here is very advanced and will allow you to access many features.

The system includes signal providers and portfolio management with many other different features for customizing the copy trading. We recommend ZuluTrade for beginners especially, because of this comprehensive and easy-to-use system.

ZuluTrade Details:

Regulation: Triple A Experts Investment Services S.A. regulated by the HCMC (no. 2/540/17.2.2010).

You do not own or have rights to the underlying assets. Please read the Disclosure documents provided on the ZuluTrade website.

  • Type: Copy trading and Social trading
  • Leverage: This one depends on the broker you use
  • Minimum Deposit: Depending on the broker you use, the deposit will vary.
  • Platforms: Web platforms and apps for iOS and Android
  • Headquarters: Triple A Experts Investment Services S.A. is headquartered in Piraeus, Greece
  • Instruments: Instruments depend on the broker you use

U.S. Customers can use ZuluTrade.

2. eToro

eToro Copy Trading, copy trade forex

Open Live AccountAs we have mentioned above, in the larger topic of social trading, eToro is one of the top players and deserves the top spot. However, they have a copy trading platform that is not as advanced as the one you will find at ZuluTrade.

Copy trade forex is a bit different and the execution of it determines what place these companies take on the list. The eToro copy trading system is one of the best in the industry. It is second only to ZuluTrade and from a certain point of view, it could be even better for those who are beginner in copy trade forex.

If you want to stick to something that will make your copy trading easy in terms of usability, you would do well to go with what eToro offers. This system does not offer you many of the other complex features you may find on other platforms.

eToro copy trading is indeed one of the best ways to do this.

eToro Details: 

Regulation: eToro (Europe) Ltd. authorized & regulated by CySEC (# 109/10); Toro (UK) Ltd authorized & regulated by the FCA (583263); eToro AUS Capital Pty Ltd. authorized by ASIC (491139).

You do not own or have the right to the underlying assets. Please read the Disclosure documents provided on the eToro website.

  • Type: Market Maker
  • Leverage: 1:400
  • Minimum Deposit: Ranges between $200 to $10,000 depending on where in the world you live.
  • Platforms: Web platforms and apps for iOS and Android
  • Headquarters: eToro (Europe) Ltd. is headquartered in Limassol, Cyprus
  • Instruments: CFDs on indices, stocks, ETFs, commodities, bondscryptocurrency

U.S. Customers can use eToro but they may have some limitations. They will need to deposit at least $10,000 to get started.  

3. NagaTrader

Naga Trader Copy Trading, copy trade forex

Open Live AccountNaga Trader is a well-regulated copy trading platform that is under the oversight of CySEC and FCA. They provide you with the maximum protection that any trader who is engaging in copy trade forex can get. They are one of the top companies in social trading as well.

They feature heavily in the copy trading industry with great features on their platforms. Among some of their best features, you will find an abundance of cryptocurrency assets.

Cryptocurrency deposits are accepted when you use Naga Trader. They have a much lower minimum deposit when compared to the other players in the market. The copy trading has expanded horizons in this context.

If you are a new trader who is just trying out their system, you will find it very easy to join and that is desirable for all the new traders who have not done a lot of copy trading yet.

Naga Trader Details:

Regulation: NAGA Markets Ltd regulated & authorized by CySEC (204/13) and FCA (609499).

You do not own or have the rights to the underlying assets. Please read the Disclosure documents provided on the Naga Trader website.

  • Type: Market maker
  • Leverage: 1:200
  • Minimum Deposit: None
  • Platforms: MT4, Web platforms and apps for iOS and Android
  • Headquarters: NAGA Markets Ltd is headquartered in Limassol, Cyprus
  • Instruments: CFDs on stocks, ETFs, indices, commodities, futures, cryptocurrency, gaming items

U.S. Customers cannot use the services provided by Naga Trader.  

4. Darwinex

Darwinex Copy Trading, copy trade forex

Open Live AccountDarwinex is considered one of the most advanced copy trading services you can use. On this list, they top in terms of innovation. The basic concept that is used in copy trading is the same one you will find here.

However, with Darwinex, you will find that the services are handled differently. Many of the industry experts have called it one of the best trader communities in the world. When you are on the platform, it is easy to use the full and unique features that they have, to make your copy trading much easier and better.

They have a different mode of handling things here, using synthetic assets that they call Darwins. They are assets whose price varies according to the trader’s performance behind it. The more you earn in copy trading, the more the price of the Darwin grows and the more your investment on the Darwin gains.

Darwinex Details: 

Regulation: Tradeslide Trading Tech Limited authorized & regulated by the FCA (586466)

You do not own or have the right to the underlying assets. Please read the Disclosure documents provided on the Darwinex website.

  • Type: STP
  • Leverage: 1:200
  • Minimum Deposit: € 500 or $ 500
  • Platforms: MT4 and MT5, Web platforms and apps for iOS and Android
  • Headquarters: Tradeslide Trading Tech Limited have their headquarters  in the city of London, UK
  • Instruments: Instruments depend on the broker you use

U.S. Customers can use Darwinex.  

5. Avatrade

Avatrade, Copy Trading, copy trade forex

Open Live AccountAvatrade is one of the best forex brokers based in Ireland and regulated in Europe by the Central Bank of Ireland. They are one of the few brokers who offer fixed spread forex trading. They also have a great copy trading platform that you can use.

As a broker, this company offers an extensive range of trading platforms that you can use for various purposes. Avatrade calls their copy trading platform, Duplitrade. You will be able to get all the benefits, including the fixed spread on all the tradeable assets.

All of them start at 1.3 pips and above. Avatrade has top quality sources for copy trading and they include hedge funds, expert brokers and money managers. If you use the copy forex trade with Avatrade, you are gaining valuable access to experienced traders.

This experience can be highly lucrative for you. They work with ZuluTrade as well, to make sure that you get all the information you need, to make the best trading decisions, Truly, the copy trading platform here is one of the best.

Avatrade Details: 

Regulation: AVA Trade EU Ltd is regulated by the Central Bank of Ireland (No.C53877); the V.I Financial Services Commission; in Australia by ASIC; in South Africa by the South African Financial Sector Conduct Authority and in Japan by the FSA and the FFAJ.

You do not own or have the rights to the underlying assets. Please read the Disclosure documents provided on the Avatrade website.

  • Type: Market Maker
  • Leverage: 1:400
  • Minimum Deposit:  $100, €100 or £100
  • Platforms: Webtrader, AvaTradeGO, AvaOptions and MT4 and MT5
  • Headquarters: AVA Trade EU Ltd is headquartered in Dublin, Ireland
  • Instruments: CFDs on metals, energies, indices, commodities, bonds, shares, ETFs, cryptocurrencies

U.S. Customers cannot use the services provided by Avatrade

6. FBS

FBS Copy Trading, copy trade forex

Open Live AccountFBS stands out as one of the best copy trading brokers you will find in the world. They are a good choice for new traders who want to do forex trading in general. They have a wide range if FBS account types available to anyone who needs them.

FBS copy trade is easy when you have an account with them.

Among the accounts you can get before you start your copy trading, you will find options like the Cent account which requires a minimum deposit of only $10. FBS has a very extensive copy trading service.

The only downside here is that the platform used for copy trading on FBS is not available to the European copy trading customers. If you are eligible to register under the rules set by IFSC, you can get started on copy forex trade with FBS, using just a minimum deposit of $100.

With their selected professional strategies, you can automatically copy the leading traders of their community and have good gains. If you are an awesome trader in your own right, you can share your skills here and get paid for it.

 FBS Details: 

Regulation: Tradestone Limited authorized & regulated by the by CySEC (331/17); FBS Markets Inc. regulated by IFSC (IFSC/60/230/TS/18).

You do not own or have rights to the underlying assets. Please read the Disclosure documents provided on the FBS website.

  • Type: Market Maker and ECN.
  • Leverage: 1:3000
  • Minimum Deposit: $1
  • Platforms: Web platforms and apps for iOS and Android and MT4
  • Headquarters: FBS Markets Inc. is headquartered in Belmopan, Belize
  • Instruments: CFDs on metals, energies, indices, commodities, bonds, shares, ETFs, cryptocurrencies

U.S. Customers cannot use the services offered by FBS

7. HotForex

HotForex Copy Trading, copy trade forex

Open Live AccountIn recent times, HotForex has become increasingly popular with new traders who want to get into copy trading. The reason why they have become so popular is because they have a very competitive and wide range of assets, pricing plans, and other extensive free education sections.

In the education section, you will find articles, live webinars, videos and other material to help you develop the skills you have as a trader, as you learn how to navigate the world of forex trading.

The HotForex copy account and platform that they run, is available to you at a price that starts from $300 for copy trading traders and up to $1000 for the signal providers who give them information in return for payment.

As for the minimum deposit, that may change depending on where you are. When you do copy trading with HotForex, you will find many opportunities to become a better trader with their lessons and free education.

Depending on where you are in the world, the minimum deposit may change.

HotForex Details: 

Regulation: HF Markets (Europe) Ltd regulated by CySEC (183/12); HF Markets (UK) Ltd authorized & regulated by the FCA (801701); HF Markets (DIFC) Ltd authorized & regulated by the DFSA (F004885); HF Markets SA (PTY) Ltd authorized & regulated by the FSCA (46632); HF Markets (Seychelles) Ltd regulated by the FSA (SD015).

You do not own or have rights to the underlying assets. Please read the Disclosure documents provided on the HotForex website.

  • Type: Market Maker
  • Leverage: 1:1000
  • Minimum Deposit: $5
  • Platforms: HF Markets MT4 Terminal, HF Markets iPad Trader, MetaTrader 4 Webterminal, HF Markets iPhone Trader, HF Markets Android, HF Markets Multiterminal,
  • Headquarters: HF Markets Ltd is headquartered in Cyber City, Mauritius
  • Instruments:  CFDs on spot metals, energies, commodities, indices, bonds, shares, cryptocurrency

U.S. Customers cannot use the services provided by HotForex.

8. FXTM

FXTM Copy Trading, copy trade forex

Open Live AccountFXTM is one of the most well-known broker companies in the world. They have copy trading for you there as well, which makes it easy for you to access what they can give you as a broker and as someone interested in doing copy trade forex.

They are an international company dealing in ECN type of trading. The company is most active in Asia and Africa. With them, you will get an extensive number of account type choices before you start your copy trading activities.

They have 6 account types that you can look through and pick one that works for you. They have a cent account which is cheaper and more suitable for new traders who are just getting started. With it, you can open an account using just a minimum deposit of $10.

The broker is award-winning and offers investment services if you need one, for the low deposit of $100. As you will find out, there is a lot to like about the company and that is something that we know many of the new traders in the market who want to do copy trading, will appreciate.

FXTM Details: 

Regulation: ForexTime Limited regulated by CySEC (185/12), licensed by the FSCA (FSP No. 46614), and registered by the FCA (600475); ForexTime UK Limited authorized & regulated by the FCA (777911); FT Global Limited regulated by the IFSC (license numbers IFSC/60/345/TS and IFSC/60/345/APM)

You do not own or have rights to the underlying assets. Please read the Disclosure documents provided on the FXTM website.

  • Type: Market Maker
  • Leverage: 1:1000
  • Minimum Deposit: $ 5, £5, € 5
  • Platforms: MT4 is available for Windows, Mac, iOS, Android, web platform, multi-terminal), MT5 is available for Windows, Mac, web platform, iOS, Android) and they also have MyFXTM for Android and iOS devices.
  • Headquarters: ForexTime Limited is headquartered in Limassol, Cyprus
  • Instruments: CFDs on shares, commodities, indices; spot metals

U.S. Customers can use the services provided by FXTM.  

9. Tradency

Tradency Copy Trading, copy trade forex

Open Live AccountIn the industry, Tradency is well-known for being a pioneer of this new way of investing. The platform was created back in 2005 before eToro and Zulu Trade. If we are to be precise, what you get here is only a form of copy trading, called mirror trading.

The difference with copy trading is only in the fact that in a mirror trading strategy, the signals from which the positions are originated, come from a program in a computer called an EA (expert advisor)

As you will find out, they have been doing this for quite a while and will offer you a copy trading experience that you will find quite impressive.

Tradency Details: 

Regulation: Tradency Inc. is regulated by the Japanese FSA.  (586466)

You do not own or have rights to the underlying assets. Please read the Disclosure documents provided on the Tradency website.

  • Type: Social and copy trading.
  • Leverage: This one depends on the broker you use
  • Minimum Deposit: Depending on the broker you use, the deposit will vary.
  • Platforms: Smart Investor CFD, Mirror Trader, Smart Investor and Robox.
  • Headquarters: Tradency Inc. is headquartered in the British Virgin Islands
  • Instruments: Instruments depend on the broker you use

U.S. Customers can use the services offered by Tradency.  

10. OctaFX

OctaFX Copy Trading, copy trade forex

Open Live AccountOctaFX is one of the top copy trading platforms that you can find in the market. They are known for having low and competitive spreads, as you will see in our forex broker reviews. They start from only 0.4 pips on a standard account. OctaFX copy trading offers you the same service as most of the others on this list.

If you can get your hands on the pro account type, the spreads can get as low as 0.2 pips. With a forex broker like this one and the fact that they can offer you copy trading, it means that you will be able to conduct copy trade forex with ease.

They also have very fast execution that you can enjoy alongside copy trading. They also require a low minimum deposit for you to get started. With them, you will not have to worry about the things that make the other forex companies harder to deal with.

If you want to do copy trade forex, then you will be able to do that, after you open an account with OctaFX.

OctaFX Details: 

Regulation: Octa Markets Incorporated is regulated by the FSA. (586466)

You do not own or have rights to the underlying assets. Please read the Disclosure documents provided on the OctaFX website.

  • Type: ECN and STP
  • Leverage: 1:500
  • Minimum Deposit: $5
  • Platforms: MT4 is available for Windows, Mac, iOS, Android, web platform, multi-terminal). They also have cTrader for Windows and Mac and for devices like Android, iOS)
  • Headquarters: Octa Markets Incorporated is headquartered in Kingstown, St. Vincent and the Grenadines
  • Instruments: CFDs on indices, commodities, cryptocurrency

U.S. Customers cannot use the services offered by OctaFX.

In Conclusion

Picking the best copy trade forex platform is not an easy thing to do. Most of the people who claim to be doing social trading are there to cheat you out of your money because they know people want the easy way out.

With this list of copy trading firms where you can take your business, you can avoid all the risks that come with doing the wrong thing, just because you did not have the information about what was right.

As the forex market expands and grows to include more and more trader, you will find that the number of scams is also going up. Be safe and check out any of our forex broker reviews to find all the information you need.

Use their demo accounts to make sure that they can provide what you need before you pay any money to sign up. The best forex brokers will give you this opportunity. Now that you know where all the right social trading sites are, you can get started whenever you're ready.

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