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Top Crypto Copy Trading Platforms
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What is the Best Crypto Copy Trading Platform?

Copy trading crypto is a strategy quickly growing in popularity, and for good reason. It’s a great way for beginners in crypto to get into the trading landscape. It can be less risky than other strategies and can also be a good educational tool. The first step in getting started is finding the best crypto copy trading platforms to use.

Here, I’ve compiled a few copy trading platforms for your review shortlist. Read on to understand their benefits, drawbacks, and unique features.

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Top Crypto Copy Trading Platforms

1
5.0
  • Minimum Deposit : $5
  • Fees : Very Competitive
  • Regulations : CySec / FSA / FSCA / VFSC
2
4.5
  • Minimum Deposit : $100
  • Fees : Competitive
  • Regulations : ASIC / CySEC / FSA / FSC / FSCA
3
4.5
  • Minimum Deposit : $0
  • Fees : Very Competitive
  • Regulations : FMA / FSA
4.5
  • Minimum Deposit : $20
  • Fees : Very Competitive
  • Regulations : ASIC / CySEC / FCA
4.7
  • Minimum Deposit : $250
  • Fees : Very Competitive
  • Regulations : ASIC / CFTC / CySEC / FCA / FMA / FSCA / MAS

FXGT

FXGT Broker, a standout in the realm of crypto social trading, provides an innovative and dynamic platform for both novice and seasoned traders. FXGT Broker offers an exceptional sentiment analysis tool, giving traders valuable insights into market trends and investor attitudes.
Additionally, FXGT Broker integrates seamlessly with popular trading forums, allowing users to connect with a community of over 20 million traders.
The platform’s 24/7 trading capability and diverse market access further enhance its appeal, making FXGT Broker a top choice among the best crypto social trading platforms.

  • Pros
  • Wide range of tradeable assets
  • Dynamic and competitive spreads and leverage
  • Suitable for traders of all experience levels
  • Multiple account types
  • Copy and social trading facilities in the crypto segment
  • Cons
  • It is not available in some countries, including the US

AvaTrade

AvaTrade began in 2006 and has expanded operations across the globe with offices in several countries. Their proprietary mobile app, AvaSocial, makes copy trading incredibly easy: you can set up your profile in a single day. After registering, you can explore their huge network of signal providers, analyze their risk management, and subscribe. They offer demo accounts and crypto trading in many currencies. Traders can also use segregated accounts at AvaTrade to store money.

  • Pros
  • Trading in crypto/crypto and crypto/fiat pairs
  • Wide variety of research tools and useful signals
  • Advanced platforms for copy trading and social trading
  • Educational resources for all levels of traders
  • Cons
  • High inactivity fee

BlackBull Markets

Crypto copy trading at BlackBull Markets is available through the MT4/MT5 trading platforms. It also presents traders with BlackBull Social, which despite its name, connects to various third-party copy trading services. It requires a minimum of $200 to participate, placing BlackBull Markets among the most competitive crypto copy trading platforms. As a well-regulated broker and FinTech company headquartered in New Zealand, it is also a trusted company with exceptional 24/7 customer support.

BlackBull Markets offers 1:5 leverage, negative balance protection, ten liquid cryptocurrency CFDs, tier-1 liquidity, and tight spreads. Beginners will benefit from its dedicated cryptocurrency educational section.

  • Pros
  • User-friendly platforms with excellent trade analysis tools
  • Spreads starting from 0.0 pips
  • Leverage of 1:2 for cryptocurrencies
  • Negative balance protection
  • Cons
  • Limited deposit options

Capital.com

The Capital.com cryptocurrency asset selection features 454 CFDs, including crypto-fiat, crypto-crypto, and token-fiat pairs. It supports copy trading only via the embedded MT4 service, but its asset selection makes it one of the most competitive crypto copy trading platforms. Additionally, it shines with its excellent cryptocurrency trading guide, which offers a quality introduction and covers 17 cryptocurrencies in-depth.

Capital.com is also a secure and trusted broker, compliant with five regulators, including the Securities Commission of The Bahamas, where it offers the most balanced mix of regulation and trading conditions. It has earned a superb reputation with 24/7 customer support.

  • Pros
  • Over 400 cryptocurrencies plus a crypto index
  • Licensed by regulatory bodies in different regions
  • Award-winning platform
  • Extensive news and analysis segment
  • Cons
  • Charges overnight fees

IG Markets

IG Markets, a leading CFD broker and a publicly listed company in the UK, offers crypto traders thirteen CFDs and one index. It ranks among the most-established crypto copy trading platforms using MT4 due to its trading infrastructure and compliance with twelve regulators, where IG Markets maintains a clean operational record. Traders get 24/7 cryptocurrency trading in a competitively priced commission-free environment, where deep liquidity keeps spreads tight.

The maximum cryptocurrency leverage is 1:2, and guaranteed stop-loss orders are available. IG Markets transparently lists all necessary cryptocurrency details, and beginners will benefit from the in-depth educational content.

  • Pros
  • Zero commission on crypto trading
  • Tight spreads
  • Extensive suite of alerts and other tools
  • Round-the-clock customer support
  • Cons
  • Social (copy) trading is not offered through the web-based interface

What is Crypto Copy Trading?

Copy trading is a process whereby you set your brokerage account to copy the trades of another trader or traders. You might choose to set different trade sizes or limit your risk differentially to the trader you are copying, but your account will make the same trades as the copied trader and win or lose accordingly. Copy trading is traditionally used with corporate stocks, CFD, Forex and other asset classes – but copy trading in crypto is no different.

Copy traders copy trade information from a signal provider. A signal provider is a trader who allows other traders to access and use data from their trading activities. Some do this for free, but others require a commission in return for their trade signals. The best copy trading platform crypto traders can use has readily available trading data to copy.

You can easily find a free or paid signal provider for crypto trading online. By studying their trade signals, you can self-learn how to trade effectively. The best crypto copy trading platforms can provide extra educational materials, and help traders automate their trades.

Why Is Crypto Copy Trading Useful for New Traders?

Beginner Friendly

Copy trading is a perfect introduction to online trading for crypto users. The trader gets to learn by analyzing past data, using educational analytical tools, and communicating with their signal provider or other traders. However, they also gain hands-on experience by carrying out real trades and getting used to the platform interface, as well as getting the chance to study trades from a signal provider.

A More Hands-off Approach

Most platforms allow traders to automate their trades. In crypto, it is especially useful to set a duration for a specific trade. The trader then gets to spend their time monitoring new cryptocurrency news and planning future trades. This hands-off approach can support traders in reaching their goals quickly and easily.

Minimal Investment

For beginner traders, the best crypto copy trading platforms have relatively low minimum deposit requirements. These typically range anywhere from $50 to $100, allowing traders to input low-stakes trades. Even when copying trade data, traders can negotiate the amount traded in crypto to fit their budget. For a trader with modest funds, copy trading can be a safer route.

How to Start Crypto Copy Trading?

Getting started with copy trading in crypto is easy. Here is a step-by-step guide.

  1. Define your initial trading goals. Include your budget, preferred assets, duration of trades, and any other important information.
  2. Search for an active signal provider that suits your budget.
  3. Shortlist a few traders after filtering out any with red flags or whose results don’t suit your goals. Analyze their positions and trading results to choose where you would like to begin copying.
  4. Find the best crypto copy trading platforms for you. Our shortlist is a great place to begin.
  5. Join your crypto copy trading platform of choice. This process usually takes a day or two.
  6. Add funds to your account with the payment method of your choice.
  7. Enable copy trading on your account and input the trading data into your terminal.
  8. Automate the trade or watch it closely to close the trade at the right time.
  9. Analyze your results and prepare for your next trade.

How to Choose Traders to Copy?

Traders that allow other traders to copy their data or positions are registered as signal providers on many platforms. You can search for them online, or in the copy trading platforms above. You can then narrow down your options with filters, like location, market, or asset. You should also search for how much they earned, and during what period.

For example, you might search for a trader who is in your country, so you are certain that they are making trades relevant and viable for you. If you’re interested in a specific cryptocurrency or crypto asset, you can input only that asset.

You can ensure they average at least a 15% profit annually, to try to lower your risk. Then, you can search for trades made in the past one to three months, to ensure the market values of the trade are still stable. All these factors can help you choose a trader that meshes well with your trading goals.

Crypto Copy Trading Pros and Cons

Pros

There are many advantages to copying trades. They include:

  • Providing education on profitable trading strategies if the signals are of good quality.
  • Ability to make informed trades without having to spend as much time researching and experimenting with strategies.
  • Lowering your emotional and personal investment into your trades and making more logical decisions.
  • Creating more diversity in your trading portfolio without increasing risk.
  • Collecting more insight into the crypto markets you trade in, by getting a close perspective on trades by signal providers.
  • Setting your budget to any amount – lower or higher in price range. Whether you have a large amount of funds to indulge or a small budget, copy trading can suit it.

Cons

  • You lose some of the creative control over your trades.
  • You subject yourself to the same amount of risk that the signal provider subjects themselves to, which might not always be fully clear.
  • You might receive different results from your copied trade, especially in volatile markets.

Conclusion

While the cryptocurrency world can be intimidating at times, the right knowledge can help you succeed. The cryptocurrency industry is increasing in scope and the crypto market often has opportunities. Copy trading crypto can be a great way to get started as it can give you simultaneous changes to learn and profit.

Every trader has their own preferences and financial goals, and our shortlist is here to help beginner traders find the best copy trading platforms available. These platforms make it possible to trade anywhere and anytime.

Please remember to be aware of the risk that accompanies all asset trading and exchanging. This is the first step to breaking down your trading barriers. Copy trading crypto has advantages that far outweigh its potential drawbacks, provided some basic care is taken with limiting risk.

FAQ

  • Is crypto copy trading legal?
    Yes, copy trading cryptocurrencies is legal in most countries, but laws differ, and you should research your local laws.
  • Is crypto copy trading safe or risky?
    Copy trading isn’t as risky as other trading techniques. However, it still has some risk, which can be mitigated with proper research.
  • Is crypto copy trading for everyone?
    Traders of every level can use crypto copy trading as an effective technique.
  • Is copy trading good for beginners?
    Yes, copy trading is beginner-friendly, as it can be a less complicated trading strategy, while giving some opportunity to learn.
  • What is the best crypto copy trading website for beginners?
    Copy trading platforms like Eightcap, FXTM, and others are great places for beginners to get started.
  • What is the most profitable crypto copy trading platform?
    Platforms are always evolving, but the current most used and likely profitable platform is ByBit.
  • How to choose the best copy trading platform?
    List all your preferences and trading goals and find a platform that suits them by analyzing this shortlist. You can open demo accounts to try them out.
  • What is the best crypto copy trading bot?
    Pionex is a free and popularly used crypto copy trading bot.
  • What is the best copy trading app?
    ByBit and Gate.io are some of the most used copy trading apps, suitable for most devices.
author
About Anthony Cerullo
Anthony is an experienced editor, content writer, copywriter, and investor with a demonstrated history of working in the capital markets industry and financial technology sector. Skilled in FinTech writing, written and verbal communication, search engine optimization (SEO), client relations, entrepreneurship, strategic planning, business development, and digital marketing. In 2022, Anthony founded Walden, a content marketing agency based on a unique, simplified approach to writing.