Or, maybe you want exposure to the cryptocurrency trading scene or a volatile commodity like gold? Either way, it's best to stick with a trader that is actively involved in your preferred asset class.

Once you have filtered down by your chosen asset class - it's then time to focus on performance. After all, you'll want to be copying the very best copy traders in the industry. The only way to do this is to look at the trader's historical performance.

At eToro, you can specify two key metrics to find a top-rated trader that meets your goals - which are listed below. In entering your requirements, eToro will only show you traders that meet this criterion. Many of the copy trading platforms that we reviewed today make it somewhat difficult to assess how much risk you are taking by selecting an investor. Sure, you might have access to the maximum drawdown percentage, but this in itself doesn't give you a clear idea of how much risk the respective trader typically likes.

With that said, copy trading broker eToro presents a risk rating on all of its copy traders. This is automatically determined by the eToro algorithm - based on series of metrics. For example, a high-risk rating would be assigned to a trader that focuses on volatile assets like Bitcoin and oil, alongside an above-average maximum drawdown. At the other end of the scale, a low-risk rating might be assigned to a trader that focuses on blue-chip stocks and index funds through a diversified portfolio.

The risk rating goes from 1 lowest to 6 highest. Another key metric that we like when selecting a copy trader is that of the average trade duration. This is because you can assess the specific strategy that the trader takes. For example, if the trader has an average trade duration of 6 months - then you know that they are a long-term buy and hold investor. If the individual has an average trade duration of just 5 hours, then you know they are a day trader. If you're interested in opening a copy trading account but your mind is blown as to the sheer size of information we have presented today - fear not.

In this section of our guide, we are going to walk you through the process of joining the best copy trading broker for - eToro. You will first need to open an account with eToro. As this copy trading platform is a regulated broker - you will need to enter your information and contact details - and then verify this via documentation. Required documents include a government-issued ID and proof of address issued within the last 3 months.

Unlike other trading platforms in this space, eToro will verify your documents pretty much instantly. eToro will now ask you to make a deposit.

Alternatively, you can transfer funds from your bank account, but this might take several days to arrive. In terms of account minimums, this will depend on where you reside. Now that you have funded your eToro account, you can proceed to find a trader that you would like to copy.

On the left-hand side of the screen, click on the 'Copy People' button. As noted earlier, there are tens of thousands of verified copy traders - so you will need to make use of the filter buttons. You can scroll back up to our section on How to Choose Traders to Copy for further guidance on how to select an investor. Once you have selected a trader to copy at eToro, you will need to click on the 'Copy' button. An order box will then appear asking you how much you wish to invest.

There is also an option to copy ongoing trades. This means that in addition to copying the trader's current portfolio of assets, you will also mirror all future buy and sell positions. This guide has reviewed the best copy trading platforms to consider in We have covered everything from copy trading brokers, automated robots, signals, and third-party platforms like Mirror Trade and Duplitrade.

While all of the providers discussed today are worth considering - we found that the overall best copy trading platform is eToro. This regulated broker - which is home to over 20 million clients, allows you to choose from thousands of copy traders without paying any commission. We found that there is no competition when it comes to the best copy trading platform for - with eToro head and shoulders above any other provider in this space.

This is because you will be using a regulated platform that gives you access to thousands of verified copy traders and there are no fees or commissions charged. The copy trading phenomenon is very simple. Once you select a trader that you would like to copy, you need to decide how much you wish to invest minimums apply. Then, anything that the trader buys or sells will be mirrored in your own brokerage account like-for-like.

As such, this allows you to follow the investments of a trader that has a long-standing track record in the online trade arena. Yes, copy trading is legal, albeit, you need to ensure that your chosen broker is regulated. Copy trading can be a great idea if you wish to actively trade in a passive manner. This is because your chosen trader will perform all of the required research and analysis, and then place the required orders.

However, there is no guarantee that you will make money when copy trading. After all, if the trader that you are copying loses money, so will you. This is why it's important to conduct lots of research into a trader before investing any money. Copy trading minimum will vary depending on which platform you use. Fees will vary from provider to provider and you might need to pay this on two fronts.

For example, if opting for the mirror trading service at MT5, you need to pay a monthly subscription. Additionally, you might also need to pay trading commissions - depending on which MT5 broker you use. With that said, popular copy trading broker eToro not only offers this tool on a fee-free basis - but it doesn't charge any commissions. You certainly can. In fact, the vast majority of investors that sign up for a copy trading program engage in day trading strategies.

This means that by copying them, you can day trade in a fully automated manner. Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology.

Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner. Kane has also written for websites such as MoneyCheck , InsideBitcoins , Blockonomi , Learnbonds , Buyshares and the Malta Association of Compliance Officers. Home » copy trading. Best Copy Trading Platform — Cheapest Copy Brokers Revealed.

Kane Pepi Pro Investor. Updated: 18 March Fee Amount Stock trading fee Free Forex trading fee Spread, 2. Cons: Not suitable for advanced traders that like to perform technical analysis. Visit eToro Now. Fee Amount CFD trading fee Variable spread Forex trading fee Spread. Cons: Does not offer traditional stock ownership — CFDs only.

Visit AvaTrade Now. Fee Amount Stock trading fee Commission. Forex trading fee Commission. Crypto trading fee Commission. Cons: Only offers CFDs. Cons: No traditional stocks or investment funds Regulated offshore. Visit FinmaxFX. Visit Pepperstone Now. Create Account. Trade Now. About Kane Pepi. About Kane Pepi Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology.

View all posts by Kane Pepi. Latest Trading News More News. Tech Companies Laid off , Employees in Jastra Kranjec 1 week Ago.

Find The Best Broker For You Best UK Stock, Forex, CFD, Crypto, Social or Day Trading Platform that meets your needs. Crypto Trading Platforms Automated Trading Platforms Best Day Trading Platforms Best Trading App Commodity Trading Platforms Forex Brokers NFT Platform Stock Brokers. Stock trading fee. Spread, 2. He heads research for all U. com and is respected by executives as the leading expert covering the online broker industry.

John Bringans is the Senior Editor of ForexBrokers. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.

An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money. Home Forex Guides Directory.

November 15, Best overall broker, most trusted Minimum Initial Deposit £ Pros Outstanding platforms and tools Over 19, tradeable instruments Competitive pricing Cons No predefined layouts on the flagship web platform Limited product range on MT4.

Pros Flagship platform is top of the line Over 40, tradeable instruments Excellent customer service Cons High minimum deposit. Pros Low trading costs Excellent web and mobile platforms Robust research materials Cons Educational offering could be improved MT4 offering limited to 62 symbols. Pros Robust platform for professional traders Wide range of global markets Thorough research offering Cons Trader Workstation platform is likely too complicated for inexperienced traders.

Best desktop platform, U. Pros Outstanding platform in thinkorswim Thorough research offerings Excellent educational materials Cons Does not offer copy trading Forex pricing is slightly higher than industry average.

Pros Multiple high-quality platforms Excellent market research Wide range of markets Cons Only about instruments are available on the MT5 platform, compared to over 4, on non-MetaTrader platforms. Pros xStation 5 platform is an industry standout Robust selection of trading tools Excellent customer service Cons Pricing is just average. Excellent all-round offering Minimum Initial Deposit £ Pros Excellent platforms and mobile app Extensive range of markets High-quality market research Cons Pricing is average for the industry Limited product range on MT4.

Pros Large number of investors to copy Extensive range of markets to trade User-friendly platforms and app Cons No automated trading strategies Stops, limits mandatory on trades Research trails competitors. security Find a trustworthy broker: ForexBroker. percent Pro tip: For most beginners, trading forex with an amount of capital that you can afford to lose can be a great way to learn with less risk, and can be of value if you focus on the percentage returns rather than their dollar value.

smartphone Mobile forex trading If you're a fan of mobile platforms — or trading forex on the go — see our picks for best forex trading apps here. biotech Methodology: To determine the best forex brokers for professional traders, we broke down each broker's active trading program, and compared all available rebates, tiers, and all-in costs.

Submit Details. Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers. Blain Reinkensmeyer Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time. John Bringans John Bringans is the Senior Editor of ForexBrokers. Joey Shadeck Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.

Saxo Bank. CMC Markets. Interactive Brokers. TD Ameritrade. City Index. FP Markets. Admiral Markets. IC Markets. XM Group. Fineco Bank. HYCM Henyep. Trading Moneta Markets. Trade Nation. BlackBull Markets. ACY Securities. VT Markets. RoboForex RoboMarkets. GBE brokers. Libertex Forex Club. You also need to think about what happens if a trader you are copying with some success decides to stop providing their forex signals.

You might need to start from scratch which is why I feel nothing can beat learning how to trade yourself. That way you can make informed decisions, learn from your mistakes and not blame anyone else. It can be if you use it correctly and have realistic expectations. Copy trading is relatively easy to setup and there are lots of professional forex traders with years of experience that you take advantage of.

However, if you are blindly copying signals, you will not be increasing your own knowledge of the markets and therefore cannot become a better trader yourself.

If you are a beginner, you should also be careful with which traders you choose to copy. This is because some forex signals may look good on the surface but they could be using dangerous money management or grid trading strategies which can eventually cause large drawdowns and blown accounts if you are not careful.

When it comes to choosing a forex broker for copy trading, there are a few big names in the industry that stand out from others in eToro and AvaTrade. Things to look for are the amount of forex traders they have providing signals for you to copy, other financial instruments, minimum investment, commission fees, regulation and customer support. You can see a selection of our best forex copy trading brokers in the table below.

Yes, if you do not have the time or knowledge required to trade, then forex copy trading can be a solution worth considering. However, it is important to manage your expectations and not expect miracles. There will always be good and bad forex signals. Therefore, make sure you do your research and only copy forex traders with strategies that match your trading style and risk preferences.

Richard Montana Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process. Forex trading in the United Arab Emirates is very popular, with many forex brokers accepting….

Buying and selling currencies is popular amongst residents of Singapore who are looking to speculate…. Forex trading is very popular in Indonesia. Whilst using a broker regulated by the Financial…. Currency trading is popular in France, especially for those who want to speculate on falling…. Home Guides Forex Brokers with Copy Trading.

Richard Montana November 8, Copy trading lets you duplicate the trades of other forex traders onto your own forex account. There are many forex brokers that support copy trading which give you plenty of choice, but it is important to know what to look for in a copy trading broker. You should also understand the pros and cons of forex copy trading before you start. This is what we will be covering in this guide. Copy trading is when you choose a forex trader whose traders you would like copied into your own forex account.

The person whose forex strategy you are copying is known as the signal provider whereas you are the signal follower. You can choose to follow one trader or multiple accounts at the same time.

You can also add or remove forex accounts at any time depending on your circumstances and the performance. A forex broker with copy trading gives you a platform where you can duplicate the trades of other forex traders who have an account with that broker. Some traders will sign up to a copy trading forex broker simply to provide their strategy to other traders for them to copy so they can make some extra income if they are successful. A good forex copy trading broker should provide you with hundreds of trading accounts which you can choose to copy.

They should make available all of the important statistics for you to analyse, including profit, loss, drawdown, profit factor, risk, leverage, duration, stop loss, take profit, etc. This should give you a feel for the forex strategy being used and if it is something that fits within your trading style.

Once you have chosen a forex broker for copy trading, the process is pretty simple. You just need to open a trading account and you will then be able to access the signal providers on the platform. You can browse through all of the statistics to see who you want to follow and who you want to favourite for later.

After you have made your selection, all of the buy and sell forex signals from the traders you choose to follow will be copied onto your own account with the risk level that you allocate.

Forex copy trading is a subset of social trading that allows users to mimic the trades of other investors. If they buy, you buy. If they hold, you hold. Instead, you can discuss and share ideas with each other which can help you to learn more and become a better trader in the long run.

Yes, the process of copying forex signals does work. However, that does not mean you are guaranteed to get good results. Even if you choose to follow a forex signal provider who has an exceptional track record, nobody can predict what will happen in the future. Historical performance is by no means any indication of future results. You also need to think about what happens if a trader you are copying with some success decides to stop providing their forex signals.

You might need to start from scratch which is why I feel nothing can beat learning how to trade yourself. That way you can make informed decisions, learn from your mistakes and not blame anyone else.

It can be if you use it correctly and have realistic expectations. Copy trading is relatively easy to setup and there are lots of professional forex traders with years of experience that you take advantage of. However, if you are blindly copying signals, you will not be increasing your own knowledge of the markets and therefore cannot become a better trader yourself. If you are a beginner, you should also be careful with which traders you choose to copy. This is because some forex signals may look good on the surface but they could be using dangerous money management or grid trading strategies which can eventually cause large drawdowns and blown accounts if you are not careful.

When it comes to choosing a forex broker for copy trading, there are a few big names in the industry that stand out from others in eToro and AvaTrade. Things to look for are the amount of forex traders they have providing signals for you to copy, other financial instruments, minimum investment, commission fees, regulation and customer support. You can see a selection of our best forex copy trading brokers in the table below. Yes, if you do not have the time or knowledge required to trade, then forex copy trading can be a solution worth considering.

However, it is important to manage your expectations and not expect miracles. There will always be good and bad forex signals. Therefore, make sure you do your research and only copy forex traders with strategies that match your trading style and risk preferences.

Richard Montana Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings.

We aim to help you find the best broker according to your own needs. You can read more about our review process. Forex trading in the United Arab Emirates is very popular, with many forex brokers accepting….

Buying and selling currencies is popular amongst residents of Singapore who are looking to speculate…. Forex trading is very popular in Indonesia.

Whilst using a broker regulated by the Financial…. Currency trading is popular in France, especially for those who want to speculate on falling…. Home Guides Forex Brokers with Copy Trading. Forex Brokers with Copy Trading Richard Montana November 8, Table of Contents. ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA. Review Trade Trade. ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB.

All investments involve risk and the past performance does not guarantee future results. About the Author. Review Methodology For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. Forex Brokers in the United Arab Emirates Forex trading in the United Arab Emirates is very popular, with many forex brokers accepting….

Forex Brokers in Singapore Buying and selling currencies is popular amongst residents of Singapore who are looking to speculate…. Forex Brokers in Malaysia Although forex trading continues to be a very popular form of trading in Malaysia, it…. Forex Brokers in Indonesia Forex trading is very popular in Indonesia. Forex Brokers in India Trading forex is very popular in India but it can be tough to get started…. Forex Brokers in France Currency trading is popular in France, especially for those who want to speculate on falling….

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Registration Guide How To Become a Trader How To Become a Follower How To Become a Affiliate Account Verification. Lowest Avr Eur Usd Spread. Maximum Retail Leverage. BrokerTested Awards You can scroll back up to our section on How to Choose Traders to Copy for further guidance on how to select an investor.

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