Copy Trading – Top 10 Best Copy Trade Platforms and Review 2021
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.
1. FP Markets
FP Markets copy trading feature allows the trader to replicated someone else’s trading strategy. Besides, it also provides the opportunity to modify your copy trade forex instead of blindly copying a trader.
While using the FP Markets copy trades, you don’t need to waste your valuable time searching for the winning strategy. With the copy trade MT4 technology, you can easily add or even remove anything from your strategy.
However, copy trading at FP Markets is completely automated alongside the unconventional risk management system. Nevertheless, you will get to access the real data with precise statistics, and obviously, you don’t need any extra software for that.
Regulation: FP Markets forex broker is regulated by the Australian Securities and Investment Commission (ASIC). Reg. No. HE 372179.
Please read the Disclosure documents provided on the FP Markets website before registering.
• Type: Copy trading and Social trading
• Leverage: up to 30:1
• Minimum Deposit: 100 AUD for the MT4/MT5, 1000 AUD for Iress
• Platforms: MetaTrader 4 and MT5, Mobile Trading as well as Web Trading, and Iress
• Headquarters: FP Markets headquarter is located at the level 5, Exchange House, 10 Bridge St, Sydney NSW 2000.
• Instruments: Futures, Forex, CFDs, Index-based ETFs and Cryptocurrencies.
FP Markets does not allow any applications from America, New Zealand or Japan.
As an investor, FxPro copy trading features allow you to get access to the list of the approved strategies, which you can copy. Besides, it analyzes the historical performance data of a trader so that you can choose a copy trading strategy wisely.
FxPro copy trade forex provides the risk management analysis through the SuperTrader’s risk management control. It evidently gets you the independence to choose from a wide variety of winning traders.
The best feature of FxPro copy trading is that it works automatically with the monitoring features of the strategies. Additionally, the automatic system has the ability to remove a strategy if the trading performance falls down.
Regulation: FxPro Financial Services Ltd is regulated as well as authorized by the Cyprus Securities and Exchange Commission (CSEC) and the bearing license number is 078/07. On the other hand, FxPro UK Limited is regulated and approved by the Financial Conduct Authority, which holds the registration no. 509956.
You have rights or even own any underlying assets. Please read the Disclosure documents provided on the FxPro website.
• Type: Market maker
• Leverage: 1:10-1:50 up to 1:200
• Minimum Deposit: $100
• Platforms: FxPro Edge, MT4, cTrader and MT5.
• Headquarters: FxPro UK Ltd is addressed at 13/14 Basinghall Street, City of London, EC2V 5BQ, UK.
• Instruments: FxPro offers CFDs on Forex, Futures, Metals, Spot Indices, Shares, Cryptos, and Spot Energies.
FxPro does not accept applications from the USA, Canada, and Iran.
3. IC Markets
IC Markets partnered with Myfxbook to offer copy trading to its users. However, this copy trade forex is different than the traditional copy trading system. It provides the opportunity to the copy traders to limit the risk automatically, and signal provides can earn money from the profitable trades only.
So, your profitability percentage increase significantly. Moreover, the signal providers bear the original account, so you will get the signal based on real trading. IC Markets copy trades provide transparent and precise statistics. Furthermore, the traders also get to access the unlimited demo accounts to practice their copied strategies.
Regulation: International Capital Markets Pty Ltd holds the reg. no. of 123 289 109 and it is regulated by the Australian Securities and Investments Commission (ASIC) with License No. 335692. IC Markets (EU) Ltd. is thoroughly regulated by Cyprus Securities and Exchange Commission and it contains the license No. of 362/18. However, IC Markets Ltd is also operated in the Bahamas through the registration number 76823 C. In Bahamas it is regulated by the Securities Commission of The Bahamas via the bearing license No. SIA-F214.
Please read the Disclosure documents provided on the IC Markets website.
• Type: ECN/STP, No Dealing Desk
• Leverage: Flexible leverage 1:1 to 1:500
• Minimum Deposit: $200
• Platforms: MetaTrader 4&5 cTrader
• Headquarters: Level 4, 50 Carrington Street Sydney, NSW 2000. AUSTRALIA
• Instruments: Forex, Commodities, Indices, Bonds, Digital currencies, and Stocks.
U.S., Canada, Israel, New Zealand, Japan, and Iran cannot use IC Markets.
HotForex copy is one of the leading communities of traders through which you can start your copy trading. With the HFcopy, you can mirror trade the real-time trading from the top-performing traders. Besides, you can search for the traders whose strategy matches your style or strategy and copy them.
HF copy trades allow you to initiate the copy automatically, which eventually saves your time and energy. Furthermore, you can copy different strategies simultaneously if you have enough investments, and you can develop an exclusive people-based portfolio.
Regulation: HF Markets (SV) Ltd is registered and authorized in St. Vincent & the Grenadine (22747 IBC 2015, registration no.). HF Markets Ltd is also operated in the United Kingdom, which has the reference number 801701. However HF markets in the UK are regulated and authorized by the Financial Conduct Authority (FCA).
Please read the Disclosure documents provided on the HotForex website.
• Type: STP and ECN
• Leverage: up to 1:500
• Minimum Deposit: $5 to $250
• Platforms: MT4 and MT5
• Headquarters: HF Markets headquarter is situated at Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent, and the Grenadines.
• Instruments: Forex, metal, share, indices, energy, bonds commodities, crypto, and ETFs.
HF Markets (SV) Ltd does not operate in the USA, Canada, Syria, Sudan, Iran, North Korea, Iraq, Mauritius, Vanuatu, Yemen, Myanmar, Afghanistan, and EEA countries. Therefore you cannot open an account from those countries.
Axi has some top-quality signal providers who can supply you with an excellent copy trading opportunity. Besides, they use MT4 forex trading platforms to offer their service.
Moreover, Axi comes with AI-driven analytical power, which eventually helps you to understand the signal before you select that to copy the underlying trading strategy. In short, Axi has everything you require to raise your profitability from copying the signal provider.
Regulation: Axi is regulated and also authorized by the Australian Securities & Investments Commission (ASIC), with the AFSL number 318232. On the other hand, Axi’s UK branch is registered in England and Wales with the reg. no. 06378544.
Please read the Disclosure documents provided on the Axi website.
• Type: ECN
• Leverage: Flexible leverage up to 400:1
• Minimum Deposit: No minimum deposit.
• Platforms: MetaTrader 4
• Headquarters: Axi’s head office is situated in Sydney, Australia, and London, UK.
• Instruments: Forex, CFDs, Futures, Indices, Metals, Cryptos
U.S. Customers cannot open an account with Axi.
6. Admiral Markets
Successful copy traders connect their trading account with the admiral market’s platform to share their trading operation with other traders. As a result, other traders can copy them and start trading. However, traders can do an in-depth analysis of the signal provider and verify their credibility before copy a signal provider. Admiral Markets copy trading is a great opportunity for the traders, regardless of their experience, to start forex trading.
Regulation: Admiral Markets UK Ltd follows the regulation from the Financial Conduct Authority (FCA) the FRN no. is 595450,
Please read the Disclosure documents provided on the Admiral Markets website.
• Type: ECN and STP
• Leverage: 1:30 Retail, 1:500 Professional
• Minimum Deposit: 100 dollars
• Platforms: MetaTrader 4, Trading App and MetaTrader 5
• Headquarters: Head office in Tallinn
• Instruments: Forex, index, share, bond, commodity.
U.S. Customers can use Admiral Markets.
XTB will introduce copy trading soon as they are still working on making the platform stronger. If copy trading is introduced, the XTB users can copy other traders’ trading strategies and eventually become expert traders who can become traders individually without anyone’s help.
Regulation: XTB Ltd mainly operates from the UK and it follows the regulation of the Financial Conduct Authority (FRN 522157) and they also got authorization from FCA.
Please read the Disclosure documents provided on the XTB website.
• Type: ECN
• Leverage: variable
• Minimum Deposit: No minimum deposit
• Platforms: xStation 5, excitation mobile
• Headquarters: 24/5 - Customer Service Ogrodowa 58, 00-876 Warszawa, Poland
• Instruments: Forex, Indices, Commodities, Stock CFDs, and ETF CFDs
USA and Canadian customers can use XTB.
Like other copy trade forex brokers, traders can duplicate some else’s trading strategy. Exness has more than 40,000 active traders per month. And almost all the traders pursue pro-level. Among this huge number of active traders, most of them opened up their signals for all. However, the signal provides charges a small fee in return.
Therefore, you will get many quality signals within few taps in the platform. Though this may sound complicated initially, everything is done automatically.
Regulation: Exness (Cy) Ltd based in Cyprus and it is an Investment Firm, authorized as well as regulated by the Cyprus Securities and Exchange Commission (CySEC) bearing license no. 178/12.
Please read the Disclosure documents provided on the Exness website.
• Type: ECN, Market Maker, NDD
• Leverage: 1:2000
• Minimum Deposit: $1
• Platforms: MT4, MT5, web terminal.
• Headquarters: Exness headquarter is located in Limassol, Cyprus.
• Instruments: Forex, CFDs, Futures, Indices
North Americans countries and some Europeans countries cannot use Exness for their trading. Please check Exness website to see the details.
FBS 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.
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
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 traders, 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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