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Copy trading is a great entry point into the forex market, stocks, cryptocurrencies and more as a trader. This type of trading allows you full access to the offerings of many top brokers but without the need to actively trade yourself. This makes it perfect for new traders or those who do not have huge amounts of time to dedicate to trading.
Here we have put together 5 of the best copy trading brokers that provide access to a wide range of tools and the most respected trading platforms to help you get the most out of your copy trading experience.
XM is one of the most recognizable names when it comes to forex brokers and those offering trading in CFDs. They have been around since 2009 and grown into a hugely trusted and respected brand that is well-regulated around the world and provides trading in more than 1,200 assets.
If you are looking for XM copy trading options then you will have a couple of choices open to you. The most popular of these is to make the most of the Metatrader trading platform offered by XM. Here you can use the EAs feature to import pre-developed or specially customized trading strategies from others in the industry. This opens up huge possibility for you as an XM trader to stay at the cutting-edge of copy and auto trading strategies in the sector.
This method of copy trading is fully accepted by XM and you can open an account for as little as $5 for a Micro account or $100 for a Standard account.
AvaTrade is a top European broker which has now become well known and respected around the world having been active in the industry for many years. Since their foundation in 2006, they have greatly expanded their offering on a number of fronts and become an established name in the industry for many types of trading. They are also a top choice if you are looking for a top-tier copy trading broker.
Whether you are trading forex or any of the other 200 or more assets made available on the platform you can find a style of trading to fit your needs. Copy trading with Avatrade is primarily made available through the well-respected Duplitrade third-party copy trading platform.
The platform itself is extremely user-friendly and can be used seamlessly in tandem with your Avatrade account for a minimum deposit amount of $2,000. This will enable you to engage in copy trading on all assets offered by the broker and with some great fixed spreads starting from 1.3 pips. This is great if you are looking for fixed spread trading with Avatrade being one of only a few top forex brokers to offer such an opportunity.
eToro is perhaps one of the best-known names in the industry when it comes to copy trading brokers. Although they have evolved to offer a full range of services to all types of traders, their CopyTrader platform and offering remain integral to the brand.
For a low minimum deposit of just $200 you can get started copy trading with eToro through a platform that is recognized as one of the most user-friendly in the entire sector for copy trading. You can copy top traders across all the assets offered as well as invest in pre-selected CopyPortfolios depending on your needs.
With eToro you will find a low-fee and completely transparent trading environment where you not only have the chance to copy other successful traders but you also have access to a range of detailed and easy to understand metrics when it comes to making your copy trading choices. You can also apply to the broker to become a signals provider so other traders can copy you and unlock a commission for each new trader you have copying your trades.
Warning: Please be aware that all trading involves risk. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. This content is for educational purposes only and is not investment advice.
FXTM is another top forex broker in the industry who have been providing CFD trading in hundreds of assets to traders around the world since their inception in 2011. With trusted regulation in place from a number of top-tier bodies including CySEC in Europe, the FCA, FSCA, and FSC, they are among the most reputed brokers you can choose.
When it comes to copy trading FXTM has a dedicated offering through their FXTM Invest account option. This opens an avenue for you to get involved in copy trading on any of the assets offered at FXTM and also to set up as a signal provider yourself. Being copied by others would earn you a set commission from the broker.
You can start out copying top traders at FXTM with a minimum deposit as low as $100. This makes copy trading extremely accessible here and along with the trading signals service the broker provides together with a great low-cost spread starting from 0.1 pips it comes as no surprise that FXTM is a top copy trading choice.
Pepperstone makes the list of best copy trading brokers thanks to more than 10 years in the industry prioritizing traders through their transparent, good value broker services. Well-regulated by ASIC in Australia, the FCA in the UK, and others around the world, the broker has become a popular choice for many types of traders.
Through their proprietary and easy to use trading platform which is also available on mobile, you can engage in trading CFDs, Spread Betting, and more on all of the assets they have to offer. As a copy trader though they they are powered by Zulutrade enabling you to fully take advantage of copying other traders.
Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.