What is copy trading? Top 4 Best Copy Trading Platforms 2020
Forex trading is never easy, especially with new investor. Therefore, copied trading from expert, stably profitable trading is a wise way to earn more profit from starting to know about forex. If you are new to forex investment or have invested but always lose money, you should learn about copy trading. and choose one of the best copy trading platforms today.
- 1 What is copytrading?
- 2 What is advantage of copy trading?
- 3 How to choose an expert to copy trade
- 4 How to Choose the Best copy Trading Platform
- 4.1 Licensed by the reliable regulatory agencies in the world
- 4.2 Has an easy interface using and high rated by the community
- 4.3 There are many experts (Pro Trader) to choose
- 4.4 Low minimum investment amount
- 4.5 Allows to customize parameters when copy trading
- 4.6 Low or free trading fee
- 4.7 There are many method of deposit and withdrawal, fast deposit and withdrawal
- 4.8 Customer support
- 5 TOP 4 – Best Copy Trading Platforms
What is copytrading?
Copy trade or Copy trading means that You copy a trader and whenever that trader makes a trade, your account will make that trade as well in real time.
More specifically that you will choose an expert having stable profit and make copy of the trading orders according to them. When an expert (Pro Trader) opens or closes a certain transaction, your account is also allowed to open and close according to that Pro Trader’s account with a Volume ratio on the order that you set.
Of course, the expert’s account will lose or profit, your copied account will also lose or similar profit according to the rate that you have set. However, you can also stop copying orders and close existing orders whenever you want.
In addition, the copy trading platform is also known as Social trading, This platform is for newcomers to the financial market, not inexperienced, those who have forex investment but still lose money, Or busy investors having no time to trading.
What is advantage of copy trading?
You can view a list of experts, successful traders, as well as view their trading history to decide whether to copy their trades or not.
You do not need to spend time analyzing the market to enter daily orders and still be able to make a profit.
You can allocate your capital to copy trading according to different specialists, according to the rates you want. You can easily set your profit taking or risk management, whenever you can intervene to close the existing orders you want.
With a series of advantages of copy trade (copy trading) that only costs a small fee for the expert that you copy (This fee is deducted from your profits), So the copy trading platform (Social trading) Recently selected by many investors.
How to choose an expert to copy trade
Copy broker often have thousands of specialists for you to choose from. It is not easy to choose a copy trading firm that can help you earn regular and safe profits.
Here are some criterium for you to choose good and safe traders:
- The trader must have a minimum 12-month trading history.
- Must have weekly trading activities.
- Have a stable profit (at your desired level) for at least the last 3 months (previous months may have slightly lower profits).
- Having a maximum “Drawdown” of not more than 20%
How to Choose the Best copy Trading Platform
The choice of reliable copy trading platform is most important for investors, because if you put your trust in an unreliable place, your investment will be at risk, or you will have difficulty in Deposit and withdraw money later.
Here are the criteria to choose the best and most reliable copy broker:
Licensed by the reliable regulatory agencies in the world
The copy trade broker that you choose should be licensed from regulatory agencies such as FCA, CySEC, ASIC… The more licenses you have, the higher the rating is for reliability.
Has an easy interface using and high rated by the community
The copy trade has an intuitive, easy-to-use interface for investors to view the list of experts and easily assess whether the expert has a stable profit? High level of risk or not? Thereby making the decision to copy the trading from whom is best.
Choose the platform that has the interface as simple as possible, but it needs all the necessary features such as capital management settings, allowing capital allocation, setting risk ratio, volume and other customizations.
There are many experts (Pro Trader) to choose
Choose copy broker has as many experts as possible, this gives investors more choices. However, it should be noted that a good copy trading boker is the one that has many real quality experts, not just in quantity, which means that the copy broker is really serious in choosing to make a list of experts on our platform.
Low minimum investment amount
You should choose the copy broker with the minimum investment amount, this can help you to experience and evaluate the copy broker is good or not ? Is it really reliable? Before investing large amount of money.
Usually the minimum amount for copy trading is from $200, this is a reasonable investment for beginners to enter the market.
Allows to customize parameters when copy trading
A good copy trade broker is the one that can allow you to customize basic parameters such as: The amount of capital to copy per expert, proportion of the volume when match the order, the allowed risk rate, the expected profit-taking rate, and in particular, must allow you to stop copying whenever you like.
Low or free trading fee
Trading fee is the fee that you have to pay to experts when you copy or commission per trading . The lower the fee, the more you will maximize your profits.
There are many method of deposit and withdrawal, fast deposit and withdrawal
This is considered as the criteria that many investors are most interested in, the more ways to deposit and withdraw money, the easier it is for investors to access and participate in copy trading. deposit and withdraw prestige via Visa / Master Card, via popular e-wallets Neteller, Skrill And if there is money withdrawal via online bank transfer (internet banking) is the most convenient.
A reliable and good copy trade is that the broker can withdraw money easily and quickly, the criteria here is that the best time to withdraw money is within 24 hours from the time of placing a withdrawal order, and the maximum is not more than 3 working days.
This is an extremely important criterion, because problems arising during tradings, deposits and withdrawals are inevitable. If the support is delayed, it may affect the assets of investors or cause a certain discomfort. So you should also choose a copy trading platform that supports the language in your country and the response time for support is no more than 15 minutes (within working days).
TOP 4 – Best Copy Trading Platforms
Based on the above criteria, to reduce the time to learn for you, Forexfanclub.com has compiled reviews from the copy trade community and made a list of the best and reliable copy trading platforms available today.
Etoro is known and rated as a copy trading platform (Social trading) with the best platform today. On Etoro platform, you can copy signals from many famous investors, especially Warren Buffett.
Established in 2007, however, until 2011 Etoro started to provide trading copying services – Social Trading, since then Etoro has always been well appreciated for the quality of its services.
Etoro is one of the reliable brokers because of having all three licenses from the world’s leading financial management agencies: FCA, CySEC and ASIC.
The ETORO platform provides analytics on signal providers, with Simplicity Etoro making it easy for new investors to get acquainted and choose the right signal provider.
Advantages of Etoro:
- Free stock trading and ETF
- Having real stock tradings
- Rich trading products (47 forex currency pairs, stocks, indexes, ETFs, cryptocurrencies).
- Support many convenient deposit methods for users.
Open an Account on Etoro here:
Not only famous for being a good and reliable Forex broker, it is also operating in more than 190 countries around the world (See more: FBS Review)
FBS is also known as one of the best forex trading platforms available today, FBS Copytrade eliminates all the complications that other trading copy platforms encounter, aiming to make it easy for customers to access. but the service quality has not been reduced.
FBS CopyTrade is rated to have a good user experience.
At FBS copytrade Those who have little experience with forex can also earn money from copying trades, good traders can also earn extra income by sharing their trading signals.
Open an Account on FBS Here:
OctaFX was founded in 2011 and released the Copy trading platform in 2018, since then OctaFX has always been highly appreciated by investors for transparency.
OctaFX’s Copy trading platform is not only helps inexperienced traders to make money from copying trades of experienced people, but it also makes it easier for good traders to earn additional income from the split. Share your trading strategy without any extra work.
Users can easily find information comparing the top traders, helping to evaluate and decide quickly.
Start copying trades and making profit on Octafx here:
Zulutrade is a Social Trading platform founded in 2017, where you can easily select and copy trading signals of thousands of the world’s leading traders. Zulutrade is a great platform for traders who are interested in copying trading signals and signal providers.
At Zulutrade you can get a wide range of signals from forex markets, cryptocurrencies to stocks, trading CFDs. And the special thing you can copy Binary Options trading at Zulutrade.
Start earning money by copying trades from Zulutrade here:
If you are a new trader, have little experience in forex investment, Or you have traded long and still lose? Or simply, you are busy and do not have much time for trading, the choice of Copytrading is a solution to help you invest effectively and safely forex.
Start copying trades and making profits from the world’s top forex traders, by choosing one of the best and most reliable copy trading platforms listed above.