They have a large selection of trading instruments stocks, forex, cryptos, etc available across the eToro web and eToro mobile platforms. Founded in just like AvaTrade, the eToro online trading platform lets you easily connect with other traders, to view, compare and discuss trading strategies. In addition to copying other traders, you can also place and manage your own trades which can then be offered to other traders for them to copy.

There is an eToro club which offers a range of exclusive benefits, services, and tools to customers according to membership tier. This includes a dedicated account manager, market analysis, live webinars, expert investment support, premium trading tools, exclusive VIP events and other benefits. eToro is regulated by some of the most respected regulatory authorities. This ensures that they must abide by strict rules and regulations in place to protect investors and gives their clients the peace of mind that they are using a trusted social trading platform.

I think eToro can be a good social trading platform for anyone who is looking for the most innovative copy trading technology presented in an easily accessible way. There is a reason they have remained at the forefront of the brokerage industry for so many years when it comes to social trading.

Pepperstone have earned a place in our best social trading platforms. Pepperstone clients can choose to follow and copy trades from other popular traders using third-party services whilst learning how to improve their own online trading. The copy trading platforms they offer include:. In addition to providing clients with social trading solutions, Pepperstone also offer a wide range of trading instruments for self-directed trading which includes Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs and ETFs.

They provide these markets across a selection of the best trading platforms including MetaTrader and cTrader. These platforms are packed with useful trading tools for conducting detailed chart analysis to find potential trading opportunities. Pepperstone offer low fee trading, tight spreads and fast execution speeds.

They are regulated by some of the most respected regulatory authorities and have won multiple awards over the years for their online brokerage services.

I think they are an excellent choice of broker for anyone who is looking to trade online by themselves or use automated trading strategies with some of the best conditions that you will find anywhere.

ZuluTrade easily make it into our best social trading platforms list as they are one of the largest social trading platforms with over a million users and billions in trading volume. ZuluTrade provide a user-friendly online social trading platform that has a plethora of trading signals which you can choose to copy.

You simply just need to sign up with ZuluTrade and connect your brokerage account. Once your brokerage account has been connected to the ZuluTrade platform, you can review the trading signals offered and choose the signals that you want copied into your own account. The ZuluTrade platform enables you to filter and sort the statistics of all the trading signals according to overall returns, duration, drawdown, win rate, average pips, currency pairs, amount of trades, etc.

Trading signals can be added or removed at any time. I think ZuluTrade is a decent copy trading platform but I did find the signal providers to be hit and miss. I found the performance of some strategies to be misleading as they were using very high risk which could eventually lead to significant drawdowns and even blown accounts if you are not carefully.

Darwinex earn a place in our best social trading platforms list for enabling sophisticated traders to trade the markets with superior trading conditions and investors to back them.

You can quickly and easily build your portfolio of traders that you wish to copy from around the world, with access to thousands of strategies suited to different styles of trader.

Darwinex offers the ability to trade your own account or follow the strategy of other traders DARWINs. Traders who already have a profitable trading strategy can choose to list their strategy on Darwinex and receive a success fee from the profits made by other traders who follow the strategy.

In addition to social trading platforms, Darwinex also provide self-directed investing with direct market access DMA trading on interbank spreads sourced directly from prime brokers and starting from just zero pips.

These markets can be traded through one account via a choice of powerful online trading platforms for desktop, web and mobile devices. I think Darwinex is more catered towards those of you who already have some experience trading online. Whilst they do not have the most straight forward setup when compared to some of the others, they do seem to attract some highly skilled traders. I am very impressed with the abundance of features including individual trading, copy trading, personalised portfolios, advanced charting tools, market analysis and insights, NAGA wallet and much more.

IC Markets provided social trading platforms via integration through some of the leading third-party providers. They offer AutoTrade to clients, the next generation account mirroring trade copy service owned and operated by Myfxbook. This service allows you to copy the trades of any system you select directly into your IC Markets account.

You can also choose among thousands of talented ZuluTrade strategies and follow their trading signals for free in your account.

They also have the cTrader copy trading platform that is designed for easy and transparent copy trading. FXTM is an award-winning broker with strict regulation in multiple jurisdictions. They have user-friendly trading platforms, various account types and funding methods, along with a vast range of educational materials and trading tools to help you make informed trade decisions.

FXTM Trading Signals are available in MyFXTM via a technical analysis tool that provides data and assessments of market movements across a range of trading instruments.

Axiory is an established online broker that offers CFD trading via cTrader, MetaTrader and FIX API. They also provide you with some additional trading tools and educational materials to help you get the most out of your trading. Using Axiory CopyTrade, you can choose from the expert traders you want to copy and duplicate their trades onto your own account.

to follow and make their strategies your own. You can interact with fellow traders and investors which is a good way to learn and improve your own trading strategies. FXPIG have a range of customised trading solutions for traders of all experience levels. Primarily operating as an STP forex broker, they provide the excellent cTrader and MetaTrader platforms along with a FIX API and PAMMs. You can choose from a range of copy trading solutions and a decent selection of managed accounts.

It is not the easiest of copy trading solutions so beginners may wish to consider one of the other options. On the other hand, FXPIG have a powerful trading environment and utilise innovative trading technology which may be of interest to the more advanced traders and institutions.

Here you will find our best social trading platforms, based on thousands of hours of extensive research, testing and analysis across hundreds of brokers. Upon conclusion of each of our broker reviews , we have assigned each social trading platform with a rating. Some of the most important factors that contribute towards a good platform for copy trading have been considered including the features and functionality.

We have carefully examined things such as the financial instruments, tools, fees, usability, education, versatility, funding options, regulation, customer service and more. Each of our chosen copy trading platforms have undergone and passed our stringent broker reviews with flying colours, based on what we consider to be amongst the most important considerations when choosing a platform for social trading. These platforms are well-established within the online brokerage industry, providing a great range of social trading products and services to traders and investors of all experience levels.

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. Traders who share their real-time trades for the purpose of copy trading are known as signal providers.

Each user, or trader, can decide to which degree they want to copy the signal provider. Copy trading platforms allow users to automatically copy the trades of available signal providers in real-time using individually customized account settings and platform tools. Each copy trading platform provides its own set of optional controls to protect investors. For example, you can customize the amount of capital at risk for each signal provider that you are copying.

This way users can set a maximum drawdown limit to prevent losses from going beyond their risk tolerance threshold. How to copy trade in 7 steps: Compare performance rankings and statistics from among the traders that are available to be copied.

Analyze and compare the remaining candidates and decide which to copy, if any , and determine how much of your balance to allocate towards copying each trader. Once you are comfortable with the settings you have configured, click to copy trade the traders you have decided to follow.

Monitor the performance of your trading account as often as needed, depending on the frequency of trades established in your copy trading account. Adjust your parameters and subscriptions as conditions change such as signal provider performance, or your own market expectations. How do you copy the best traders? The best copy traders signal providers typically have a large following, an established track record of performance i.

Try to look at more than just the absolute returns when comparing the best traders to copy. Depending on your goals, it can also be important to find the right balance of diversification. Pro tip: You should always consider the time horizon or, expected duration of your investment when copying another trader. Copy trading is like any investment, in the sense that you can either make money or lose money.

Your profitability is determined by which traders you follow, as well as the timing of when you copy their trades — both of these factors will affect any resulting profits or losses. You should assess the profitability of each trader before choosing which one to follow, and remember: just because a trader is making money at a particular time doesn't mean it's the best time to copy them.

As the market adage goes, "Past performance is not indicative of future results. Start with a small amount of capital, and do thorough research before committing to a strategy. The best trading system to copy isn't necessarily the most profitable. It is crucial to align your risk parameters with the strategy that best suits your investment goals.

For example, a more conservative investor may choose a system with a lower average loss per trade, relative to the average profit. On the other hand, a more aggressive investor may choose a strategy that has higher volatility, which means a higher risk for losses — but also higher relative potential profits.

Many modern copy trading forex platforms contain hundreds or even thousands of signal providers. As a result, it can be difficult for traders to decide who to follow.

Thus, it is always important to do research, start with a small amount, and never risk more than you are willing to lose. While it may sound like a good idea to automate your trading strategy, copy trading still requires active account management — it's not a quick fix or an easy way to make money. Though it's not for everyone, copy trading can help you diversify your existing portfolio when used correctly, and the best copy-trade brokers will offer tools to help you manage your account.

Whether or not copy trading is a good idea for you will depend on your preferences, overall goals, risk tolerances, and what percentage of your portfolio you plan on allocating to copy trading.

Copy trading still requires you to work when setting it up because it's considered a self-directed account in most countries, compared to a set-it and forget-it investment fund or other passive investments where other people make investment decisions for you. Copy trading can be good for beginners, provided they learn the basics and approach copy trading the same way they would any other self-directed trading account.

That being said, copy trading is not a replacement for your trading needs — regardless of your experience level.

Instead, copy trading should be thought of as a way to complement your portfolio and existing trading tool arsenal. Check out our popular guide to forex trading for beginners. We'll help you pick a forex broker that's great for beginners, and give you an educational introduction to forex world. Prudent beginners will analyze all available performance metrics when deciding whether or not to copy a particular trader.

Overall, copy trading can have its place for beginners — so long as they take full responsibility for managing their choices. Beginners who adopt copy trading can adopt good practices, such as keeping track of their account performance to make changes as needed, but copy trading is not a replacement for self-directed trading, and should not be thought of as a passive investment or managed account.

The trade size in your account may be smaller or larger, depending on how you configured your account when initially subscribing to copy each investor. Pro tip: Once you find one or more traders you wish to copy from within a copy trading platform, you will need to decide whether you want to only take on any new trades they establish, or immediately copy any of their pre-existing positions that may already be open.

There may be additional parameters that you can configure — such as the maximum amount of risk you are willing to take for each trader you copy — and other controls that may affect how you manage your account when copy trading these can vary depending on the copy trading platform you use.

Besides choosing a trader with good historical results, it's important to look at the performance statistics for each system, such as the amount of risk taken maximum drawdown and average trade size, duration, and frequency of trades. Some investors select more than one strategy, but having enough capital and choosing the right risk parameters if any is crucial when you copy trade forex strategies. Remember, copy trading is risky. Never invest more money than you are willing to lose.

Yes, copy trading really works, and you can verify the proof by checking the results of the best-performing traders. Likewise, there are traders that do lose money when copy trading. Copying a trader who has a successful track record or history of positive returns is no guarantee that you will succeed, although it can help increase the probability of making money compared to copying a trader that has poor historical performance.

Pro tip: The tools available for analyzing traders and managing risk can vary widely across copy trading platforms, and database biases may come into play for example, recency bias, which can lead to simply following the trader currently performing best, which is not always the best choice.

In addition, investors may be led astray by strategy drift — which is when a trader deviates from the strategy that led to their historical performance, which can produce unexpected results.

The key to success is to do your research and keep up to date with your account performance, and intervene when necessary if copy trading doesn't work for you.

Understanding how social copy trading networks calculate trading performance is an essential aspect of successful copy trading, as it affects the ordering of trader rankings. The method used to measure and track profit and loss also influences trade copiers. Instant backfill bias is just one example of the challenges social trading technology developers face if they permit traders to instantly upload their entire trading history at the click of a button.

Such challenges have been known for years, and thanks to broker procedures, regulation, and robust technology, these concerns are mostly non-issues, especially for top-rated forex brokers. Nonetheless, if in doubt, it's always prudent to check and ask questions. eToro Review is a winner for its easy-to-use copy-trading platform where traders can duplicate the trades of investors across over instruments, including exchange-traded securities, forex, CFDs, and popular cryptocurrencies.

AvaTrade is a trusted global brand best known for offering traders an extensive selection of trading platform options. Our testing found AvaTrade to be great for copy trading, competitive for mobile, mostly in line with the industry average for pricing and research, and a winner for investor education. Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking. Was this helpful? Yes or No. At ForexBrokers. com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers.

Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies click here to learn about how we calculate Trust Score. In order to assess the best brokers for copy trading, we conduct extensive research on a wide variety of copy trading platforms and services.

We test copy trading platforms as provided by the online brokers themselves, and evaluate the overall proprietary social copy trading experience, and we test copy trading services offered by third-party providers. We also examine the costs of these services, to determine whether these costs are folded into the spread or charged as standalone fees or subscriptions, for example.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS Ultimately, our rigorous data validation process yields an error rate of less than.

Click here to learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks. Steven Hatzakis is the Global Director of Research for ForexBrokers. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry.

A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. as a Commodity Trading Advisor CTA. Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time.

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.

It was the company Tradency that was the first to develop and utilize the idea of social trading or mirror trading as a concept in the year Over time, more and more social and copy trading providers as well as social trading platforms came to light.

Today, social trading is one of the fastest growing sectors within the forex trading world. Many users join social trading networks every day. Social, or copy trading as it is often also referred to, utilizes social networking trading platforms to exchange, share, compare, and copy the trading strategies , financial information, trades, and more of other investors. Social trading sites provide their users with a variety of community-based tools to share and further develop their knowledge in order to make more informed trading and investment decisions.

Participants can communicate on forums, ask questions, exchange insights and strategies, and create investment relationships. As an example, the popular and almost iconic social trading and multi-asset brokerage firm eToro offers one of the most sophisticated social trading platforms.

Their CopyTrader is a copy trading platform and online trading community that allows all individuals within the community to see what people or asset managers are trading in real time and what profits or losses they are making.

This feature, and the fact that a huge eToro social trading community has already formed, has enabled the masses to trade and apply the strategies of other members of the community with simplicity and ease.

Social trading is a rapidly growing market that enables the sophisticated investor to participate in a network of like-minded traders. Social trading networks offer high transparency and a simplified way to start trading.

Most social trading platforms are easy to use and provide a lot of insights that allow users to make educated investment decisions. Inexperienced or novice traders can learn from being active on the social trading platform, copy other traders, ask questions, read newsfeeds, and study all information available via the social network. Passive income can potentially be generated with very little effort and even without any previous experience in the markets or in trading itself.

Of course, engaging in CFD trading should always be considered as a high risk investment where losses can exceed gains and sometimes even initial deposits. However, risks can potentially be managed more effectively by following a diverse number of traders with smaller investments.

There are many interesting and successful traders on social trading platforms with various trading strategies and risk levels to choose from. For emotional investors or traders that do not usually follow through with their own set strategy, it can be especially beneficial to join a social trading network.

It is often easier not having to make investment decisions by yourself but rather let someone else handle a stressful situation. If you are already a successful or professional trader, you could take advantage of social trading platforms by allowing other traders to copy trade your own strategies. This way, you could potentially rake in higher profits by earning a percentage cut from the profits of your followers. No matter if you enter into forex or CFDs trading on your own or by copy trading , you should always be aware of how risky these markets are.

Trading and spread betting should always be considered very risky and losses may exceed initial deposits. Further, choosing a reputable social trading platform can be confusing and time consuming. Even more so, finding a top trader , or one that is consistently successful, is often a daunting task. All available social trading brokers display trending traders, funds, or trading strategies differently. Forex traders should always review these copy trading brokers and their network of traders and investors thoroughly before making an investment decision.

Of course, past performance can never be used as an indicator for future success. Therefore, any copy trader should always carefully select the right portfolio and strategy that suits their own needs and risk appetite before they open a trading account.

As always, a trader should make sure that the forex broker and social trading provider of choice is properly licensed and regulated. The best brokers are typically those that are registered with strong regulators and industry watchdogs such as the FCA Financial Conduct Authority in the United Kingdom, the ASIC Australian Securities and Investments Commission of Australia, or the CySEC Cyprus Securities and Exchange Commission of Cyprus.

The best social trading platforms are offered by a selection of forex and CFD brokers that are regulated with at least one of the aforementioned regulators. These social trading brokers commonly offer their very own social trading platform like eToro. Alternatively, they have implemented a third-party plugin that can connect to a social trading platform via an MT4 bridge, which enables their clients to connect to a large social trading community.

Popular social trading platforms that brokers have implemented include Zulu Trade , Myfxbook AutoTrade, Trade , and Mirror Trader. The functionalities and capabilities of a trading platform are always important when it comes to trading, and it is no different in copy-trading.

Copy-traders should make sure that the trading platform offers all the features they are looking for. The variety of assets offered by brokers is another vital consideration when choosing a social trading broker. More assets available for trading means more opportunities in the markets.

All brokers have different commission structures in terms of what popular investors earn. ZuluTrade, for example, offers a fixed commission to its copied traders of 0. followers are recompensed by a variable monthly membership fee instead. Investors should be aware that different commission structures could affect the way how copied traders manage their portfolios. Brokers specialised in social trading typically charge a higher commission or apply higher spread mark-ups on trades than other online retail brokers.

Both copy-traders and those being copied should make sure what the trading costs, spreads and fees are as they can vary quite a bit. Another primary criterion on which social trading platforms differ dramatically is the amount of information they give about each trader.

It is rare, for example, for social trading platforms to display a user's entire trade-by-trade trading history. This , of course, makes sense since we would be dealing with pages and pages worth of data.

Past data typically get agglomerated into particular statistics. These charts and graphs can give each investor some decent insight into a trader's past performance. Investors should look for a detailed portfolio breakdown, which shows what financial instruments the trader invests in and how diversified their portfolio is. Some of the leading social trading brokers also provide a risk score to reflect the traders' strategic risk levels.

The eToro platform , as one of the largest social trading brokers, offers a large selection of financial instruments including forex, cryptocurrencies, commodities, shares, and the option to copy the best traders , trading styles, or even whole portfolios with their unique CopyPortfolios option.

eToro is regulated by CySEC and allows forex traders to open a live or demo account. The social trading specialist does not charge any fees or commissions. Copy trading does also not incur any additional fees. Spread mark-ups are applied instead with spreads starting from 2. eToro guarantees that spreads remain the same, regardless of whether you are trading manually or if you are copying another trader.

To help you find the Forex broker that is best suited to your needs, take a look at our comparison table and ranking of top Forex brokers that offer social trading above. If you require more in-depth information or are looking for more brokers to choose from, check out our detailed individual broker reviews and additional comparison tables.

Table of Contents Best forex brokers for social trading What is social- or copy-trading? What are the benefits of social trading? What are the disadvantages of social trading? Who are the best brokers that offer social trading platforms? Find The Best Social Trading Forex Brokers for your needs. Best forex brokers for social trading. Forex Broker Max Leverage Min. What is social- or copy-trading? What criteria need to be considered before choosing a Social Trading broker?

Trading Platform The functionalities and capabilities of a trading platform are always important when it comes to trading, and it is no different in copy-trading. Available Financial Instruments The variety of assets offered by brokers is another vital consideration when choosing a social trading broker.

Commission Structure All brokers have different commission structures in terms of what popular investors earn. Spreads and Costs Brokers specialised in social trading typically charge a higher commission or apply higher spread mark-ups on trades than other online retail brokers. Transparency Another primary criterion on which social trading platforms differ dramatically is the amount of information they give about each trader.

Top Forex Brokers. By Country. Australian Forex brokers. German Forex Brokers. UK Forex Brokers. Italian Forex Brokers. By Account Type. Social Trading. By License. By Instrument. This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More. Necessary Always Enabled.

the corporate may be a well-known and popular online broker within the currency and CFD markets, which offers competitive differentials during a wide selection of assets in global markets. To help you find the Forex broker that is best suited to your needs, take a look at our comparison table and ranking of top Forex brokers that offer social trading above. He has profound market knowledge and extensive trading experience across multiple financial markets, including Forex, stocks, indices, cryptos, and ETFs. Forex Brokers in India Trading forex is very popular in India but it can be tough to get started…. Have no idea where to start?

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