As a form of social trading that brings together Signal Providers and Followers, it cannot be denied that copy trading can be an attractive solution for both parties. A Signal Provider benefits from Follower commissions, while Followers enjoy the ease of automated trading with Signal Providers. As a prospective copy trader, you are free to decide whether you will become a Provider or Follower. But before that, you surely need to know where to join the system.
The following is a list of forex brokers providing copy trading
eToro
The copy trading feature of eToro allows users to copy the investment strategies of top-performing traders in real-time. You simply select traders to copy, and their strategies will be copied into your portfolio automatically. This approach allows you to manage your portfolio without the need to constantly monitor the market, simply by leveraging the knowledge and experience of successful investors.
You can access the Discover page to find traders you want to copy and allocate capital amounts to. eToro's copy trading is designed to be simple and intuitive, so even beginners can use it smoothly. Moreover, eToro provides a demo mode with free virtual funds of $100,000.
RoboForex
The CopyFX from RoboForex offers an easy-to-use platform for both beginners and experienced traders. With a minimum investment of just $100, clients can explore the dynamics of financial markets and join the CopyFX trader community.
The platform provides multifunctional controls that allow investors to monitor each stage of their investment and fund allocation. Getting started is very easy: you just need to register in the Member Area, set the investment amount, and start copying successful traders' transactions or share your strategies for others to copy.
With 20 payment systems available and the flexibility to choose between various account types, including MT5 and R StocksTrader, CopyFX RoboForex opens up a diverse and easily accessible investment experience.
FXTM
The FXTM copy trading platform, commonly known as FXTM Invest, allows you to copy from experienced Strategy Managers and gain access to market opportunities without the need to actively involve yourself in the trades. With a $100 minimum investment, you can select a Strategy Manager based on your investment amount and automatically replicate their trading strategies in your account. This feature is ideal for individuals who do not have the skills or time to trade independently.
FXTM Invest simplifie s the copy trading process and offers the advantage of zero spread on major currency pairs, ensuring cost-effective trading.
InstaForex
InstaForex introduces ForexCopy, a unique service that facilitates commission sharing for experienced and novice traders.
For Followers, this feature offers the opportunity to earn profits based on trading strategies from various top-performing Traders with transparent statistics. With a minimum deposit requirement of only $10, Followers have complete control over their account, as well as the opportunity to copy positions from several experienced traders at once.
On the other hand, Traders benefit from extra commissions. With a variety of instruments that include forex, stocks, metals, and cryptocurrencies, Traders can increase their profits by attracting an unlimited number of Followers. Moreover, InstaForex allows clients to be both Trader and Follower at the same time.
Forex4you
Forex4you offers investment opportunities for individuals who want to earn extra income while gaining insight into forex trading. The Share4you copy trading service simplifies the process because you can automatically copy trades of experienced traders, known as Leaders, in order to reap profits. Forex4you provides over 1,000 leaders to choose from, claiming over 70% of copied strategies are proven profitable.
Apart from the five brokers above, copy trading is also widely offered by forex brokers who collaborate with well-known autotrading platforms such as Myfxbook, DupliTrade, and ZuluTrade. Some examples are:
Final Words
The advantages of copy trading have encouraged demand for this feature to grow, to the point that forex brokers provide a special space for copy trading in their development.
You can choose copy trading at a forex broker that specifically provides it, or even join the autotrading platforms. Both have advantages, where if you choose a broker's in-house copy trading, it can provide seamless transactions and executions. Meanwhile, copy trading with third-party autotrading platforms allows you to access signals from other brokers' Providers, enriching your choice in trading strategies.
Whatever your choice, it's better not to just look at forex brokers for their copy trading services. This is mainly because most brokers only provide access to the copy trading feature after registration. So it's best to also condition your choice of forex broker on your general trading needs. In this case, you need to explore the specifications of a forex broker, which you can find on the Broker Reviews page.
Did you know? In choosing a forex broker, there is mandatory knowledge that should not be missed. Find the lesson in the article: How to Choose Reliable Forex Brokers for Your Needs.