Web8/11/ · Best Forex Brokers for Copy Trading When it comes to choosing a forex broker for copy trading, there are a few big names in the industry that stand out from WebThese brokers mainly provide popular copy trading software, also strictly includes regulated brokers with a good record: BDSwiss – Best Overall Copy Trading Broker ; FP WebThe Benefits of a Copy Trading Broker. There are many potential benefits to using copy trading brokers, especially if you are new to forex trading markets. The most obvious WebForex Broker: Copy Trading: Year: Status: Regulation: Reviews: 1: FXTM: Recommended: CySEC, FCA, IFSC: Reviews: 2: OctaFX: SVG: Reviews: 3: HFM: WebCopy Trading can be automatic or manual, it can be platform-integrated, or a stand-alone service Copy Trading = Social Trading = follow & copy other traders in real time read ... read more
You can also view and copy the trading activity of established institutional investors with some brokers, although you may need to pay an additional fee to access signals from top-tier traders. In practice, copy trading is simple and straightforward. You can either choose to dedicate a percentage of your portfolio to the copied trader, or you can place a deposit with that trader to be used automatically.
You will then receive signals whenever the copied trader opens or closes a position that your account can copy simultaneously. You can usually have the option to ignore a signal from a copied trader, giving you the final say over all of your buy and sell orders.
As a niche currency pair, there might not be a substantial amount of data to work with, which is why you might want to use a copy trade for this particular pair. This will continue indefinitely until you choose to un-link your portfolio from that trader, which can usually be done with a single click. There are many potential benefits to using copy trading brokers, especially if you are new to forex trading markets. The most obvious benefit is that you can exploit the expertise of much more experienced traders that likely have more knowledge of certain currency markets than you.
In addition, all copy trading is completely automated. You can hitch yourself to another trader and then adopt a hands-free approach since the copy trading broker will automatically open and close trades on your behalf. In addition, you can also maintain full control over your portfolio, as you can always choose to ignore any action taken by a trader that you are copying. Copy-trading can also be handy as it removes the emotional element from trading altogether.
Emotional traders have a tendency to make costly mistakes, so you might find that it is better to have all of your trades automated via someone else. Although copy trading is far from a guaranteed path to success, it is a good way to diversify your currency portfolio, as well as an effective way to learn the ropes of forex trading.
While the benefits of copy trading might seem obvious, the risks might seem less so. Nonetheless, copy trading comes with substantial risks and it is essential that you understand these before you get started. First off, copy trading is not a sure thing and even the most widely followed traders make significant losses. Remember, when they lose, you also lose.
In addition, a top trader might open very large positions that you cannot afford to open yourself, meaning it is essential to ensure that you are only executing copy trades that are within your budget. It is also important to note that many brokers have a system wherein top traders earn a commission from every person that copies their successful trades. This commission is taken directly out of your profits and can be imposed in addition to any commissions you might owe a broker.
It is for this reason why some believe that copy trading is not the most cost-effective way to trade forex. You should not put all of your faith into other traders. When looking for a copy trading broker, the most important factor to keep in mind is choice.
First, you need to ensure that the broker you choose can offer a wide range of traders and investors that you can copy. You should check that you can perform copy trades in the exact forex markets that you are interested in. Your broker should also offer transparent copy trading, allowing you to view the full and unfiltered trading histories of any market participant that you might wish to copy. Copy trades should be fully informed financial decisions, which is why your broker should be able to provide all of the data you need.
A good copy trading broker should also offer copy trading for low deposits and minimum commissions, with zero-commission copy trading being the gold standard. In order to help minimise risks from copy trading, you need to choose copy trading brokers that are fully licensed and that can offer transparent, cost-effective, and top-quality copy trading.
For this, we have got you covered. Here are some of our favourite copy trading brokers in the UK right now:. With our opinion all systems are similar and different so it is good to consider option suitable particularly for you, also see some of our recommendations below:. Below you will find a listing of our Best Reviewed Copy Trading Brokers and Brokers with Copy Trading suitable for Both beginning Find out the Best Forex Trading Platform for Beginners and Seasoned traders to gain followers.
These brokers mainly provide popular copy trading software, also strictly includes regulated brokers with a good record:. Copy trading is legal activity in the majority of countries around the world, however there are few countries exceptions. We recommend checking if the broker or platform offering copy trading services is regulated in your country and hold reputable licenses for funds safety. A good copy trading platform is firstly a platform from the Regulated and reputable broker with safety measures and is easy to use platform allowing to easily select and copy Top Traders.
Then check Number of great traders that show a good performance and consistency in the strategy, constant profits for a period of time under any market conditions is a key to your potential profits likewise. There arent many Copy Trading Brokers in US, popular eToro is not available in US, only for Crypto trading, so we advise to check ZuluTrade supporting US brokers or Forex.
These are the brokers that are regulated and recommended for Copy Trading by us usingg either own or popular Copy Trading Technology Platforms:. Skip to content Copy Trading Forex Brokers What is Copy Trading Broker? Best Copy Trading Broker Is Copy Trading Legal? What makes a Good Copy Trading Platforms?
Copy Trading Brokers List What is Copy Trading Broker? Copy Trading Advantage Copy Trading Disadvantage Suitable for Beginning Traders Potential success is based on the system or Trader you choose Offered by many Brokers Software availability depending on Broker offering Trades are automatically replicated to your account Offering Good selection of accounts or systems to follow Low fees.
Broker Detail HFM Min. Leverage : Trading Platforms : MT4, MT5 Regulation : CySEC, FCA, DFSA, FSCA, FSA, CMA. BlackBull Markets.
Best brokers list FXTM OctaFX FP Markets BlackBull Markets Eightcap Best Copy Trading Forex Brokers Top Copy Trading Platforms What is Copy Trading? Is Copy Trading Legal? How Does Copy Trading Work? Home Forex Brokers Types Best Forex Broker Forex Copy Trading Platforms 5 Best Forex Copy Trading Platforms.
Affiliate Disclosure. Affiliate Disclosure DailyForex. com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Huzefa Hamid.
Updated on July 12, Get Started. The ratings shown on DailyForex. Read more on FXTM. Read more on OctaFX. Read more on FP Markets.
Read more on BlackBull Markets. Read more on Eightcap. How we rank our brokers. Best all-around broker with high floating leverage and fast execution. FXTM is home to over 2,, traders and offers excellent execution statistics confirmed by Big Four accountancy PricewaterhouseCoopers Limited PwC.
FXTM Invest caters to copy trading, and FXTM dedicated a guide on how to maximize returns. Education forms a core aspect of FXTM, and it received a Best Education Provider award. It also provides quality research, expanding its product and services portfolio. Cons Limited choice of cryptocurrencies and commodities.
A commission-free broker with a proprietary copy trading service. OctaFX is another leading choice for copy trading, and it has its proprietary system in place. Despite being an unregulated broker, it enjoys the trust of an expanding client base. More than 1,, accounts suggest that this broker presents a trustworthy trading environment. Traders have three trading platforms, the market leader MT4, its failed successor MT5, and the ECN favorite cTrader.
All three fully support automated trading solutions, and while OctaFX deploys its proprietary copy trading system, all trading platforms come equipped with their copy trading functionalities and communities. Pros Well-regulated globally, with the Bank of Ireland as the primary regulator Low minimum deposit and in-depth educational tools Wide asset choice across seven sectors Superior mobile trading platform High maximum leverage.
Cons Low asset selection. FP Markets. ECN trading with leverage up to fpmarkets is an ASIC-regulated Australian brokerage which launched in For most traders, the unique selling point of this broker is in the extremely wide range of tradable assets offered, providing the opportunity to trade over ten thousand individual stocks and shares including publicly quoted Hong Kong and Australian companies.
Ffpmarkets also offers 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin.
Cons Availability of Iress geographically restricted. BlackBull Markets. Best ECN trading environment, with scalping and hedging. BlackBull Markets was founded in in New Zealand. Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions.
They are regulated in New Zealand by the Financial Services Providers Register FSPR and offer a maximum leverage on some Forex currency pairs as high as to 1. In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices.
That should be sufficient for those traders with more focused strategies not requiring wide diversification. Cons Limited deposit options. Pros Low minimum deposit and high leverage of up to Competitive cost structure Excellent technology infrastructure and seasoned management team Daily research and quality educational content.
WebCopy Trading can be automatic or manual, it can be platform-integrated, or a stand-alone service Copy Trading = Social Trading = follow & copy other traders in real time read Web12/7/ · Best Copy Trading Forex Brokers. FXTM, Best all-around broker with high floating leverage and fast execution. OctaFX, A commission-free broker with a Web8/11/ · Best Forex Brokers for Copy Trading When it comes to choosing a forex broker for copy trading, there are a few big names in the industry that stand out from Web15/11/ · The best rated Copy Trading broker IC Markets offers competitive offers for Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. IC Markets minimum WebThese brokers mainly provide popular copy trading software, also strictly includes regulated brokers with a good record: BDSwiss – Best Overall Copy Trading Broker ; FP WebForex Broker: Copy Trading: Year: Status: Regulation: Reviews: 1: FXTM: Recommended: CySEC, FCA, IFSC: Reviews: 2: OctaFX: SVG: Reviews: 3: HFM: ... read more