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3 Best Copy Trading Platforms Reviewed

For more than a decade, some of the best copy trading platforms have been delivering an automated trading experience for beginners. Still, a few amateurs have tried out this modality. So, we can say that copy trading as a technique is still undervalued, which is not fair. With all crucial hits and benefits for users, the idea of following an experienced investor instead of learning looks like a simpler and more flexible solution.

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This is why we decided to conduct a list of three top copy trading platforms with an exceptional reputation and advanced instrumentation to enter the financial market with a minor or zero understanding of how it works.

How Copy Trading Works

Before we start reviewing the best copy trading brokers, we should clarify the idea of the concept. In its origins, copy trading is quite simple. It relies on a set of specific technological tools that make it possible for investors to mimic deals in real-time. Every time you decide to follow an introducing broker or signal provider, you automatically replicate his or her actions.

The key benefit here is that the process does not call for specific knowledge or trading experience. In other words, any newbie can hop in and start trading right away. Of course, copy trading comes with certain risks. On the other hand, you are the one to decide whether to follow a specific trader or not. Best social trading platforms provide clear stats to compare and contrast different IBs. Additionally, you will have a set of reporting and analytic features to customize a chosen strategy.

Features the Best Copy Trading Platforms Must Have

The following list contains crucial points trusted and best copy trading brokers must have. It will help you to choose the one that meets the highest requirements. So, the main parameters to consider are as follows:

  • A trusted Platform. Online reputation always matters. A good idea is to check the platform’s rating on websites like Trustpilot. Look for testimonials and reviews by other traders to decide if the platform is a worthy one.
  • Technologies. The idea of copy trading is to react promptly together with the IB. It means instant order execution with no delays. So, you’d better opt for high-performing platforms with enough resources to process thousands of orders at the same time.
  • Clear Stats. When looking for a trader to follow, you need to be 100% sure he or she is a real pro. The only way to ensure this fact is to look up at the IBs track record. Best copy trading platforms provide full information about their experts with a number of active and completed trades and other important insights.
  • Reporting and Analytics. As an investor, you are supposed to have a clear picture of how running strategies work. Besides, platforms generally provide tools to make changes depending on a preferable trading tactic. Make sure you have a detailed reporting functionality to track results and make improvements on the go if necessary.
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Now, when you know how to choose the best copy trading brokers, let’s review some of the top 3 options available in the market.

1. MTrading – Emerging Copy Trading Platform

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MTrading has become one of the dominating financial service providers on the global market. Along with its innovative products, the company has introduced a comprehensive copy trading platform designed with beginners in mind. The main mission was to ensure a fast and easy way to start trading for those who do not have enough time to learn.

The main benefits of the platform involve:

  1. Trading with zero background and trading experience.
  2. The process does not require software download. You can start copying instantly.
  3. Safe trading is guaranteed thanks to advanced digital security means.

Users will have full access to the leaderboard with all crucial stats and insights in reference to each Introducing Broker. Additionally, you will have a chance to explore a custom rating system, overview detailed metrics, subscribe to a chosen expert, and copy his or her deals on autopilot.

Trustpilot rating: 4.2 with more than 60 positive reviews.

2. eToro – A Copy Trading Veteran

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Founded in 2007, the platform is one of the copy trading pioneers. Here, users can trade thousands of different instruments on their own or replicate deals of time-tested experts.

Pros:

  1. Flawless reputation. The company has been in the industry for 15 years.
  2. Commissions. eToro has recently introduced a zero-dollar commission for those who trade U.S. stocks.
  3. Advanced technologies. The platform offers emerging copy trading software with detailed stats and ranks.

Cons:

  1. The most crucial miss here is that eToro is slightly pricier in terms of commissions even after introducing its 0-dollar commission.

Trustpilot rating: 2.6 with 19+ reviews from real users.

3. AVATRADE – A Variety of Copy Trading Platforms

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The platform mainly relies on the technological side of the process. It offers probably the widest selection of the best copy trading platforms. They involve not only MT4 but also integrated resources such as Zulu and DupliTrade.

Pros:

  1. Founded in 2006, it is one of the longest-running copy trading brokers.
  2. A selection of advanced software to copy deals on autopilot.
  3. Fairly low commissions if compared to other competitors.

Cons:

  1. Relies mainly on their-party services.
  2. Some traders claim they had issues when cashing out.

Trustpilot rating: 4.5 with 50+ reviews from real users.

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.