Regulated copy trading platforms

[BinarySumo]

Hi folks, created this thread on different forums, as lately copy trading has become quite popular among forex and crypto traders. I remember when I was a beginner I was searching far and wide to find the right trading platform to start out with. As a newbie, I wanted to try copy trading as it seemed to be a good way of getting some exposure to the market without the risk of trading on my own. But choosing a transparent and trustworthy platform is crucial in the context of copy trading. So, I am creating this thread with the intention of introducing regulated copy trading platforms to all those who are interested in it.

So, here’s a list of 5 regulated copy trading platforms and their features.

1. Zulutrade https://www.zulutrade.com/

• Portfolio Management License from the European Union.
• Supported by many brokers.
• The minimum deposit depends on the broker you choose. Though your balance in the account connected with zulutrade should always exceed $100.
• Transparent algorithm based ranking with advanced search filters.
• Zuluguard feature for risk management.

2. DupliTrade https://www.duplitrade.com/

• Regulated by CySEC
• Minimum deposit requirement is $5000.
• Many strategy providers to choose from.
• Algorithmic trading.

3. eToro https://www.etoro.com/copytrader/

• Regulated by CySEC and FCA
• Functions as a multi-asset trading platform and cryptocurrency exchange.
• One of their highlighted features is the copy trading facility.
• Minimum deposit for copy trading is $200.
• You can copy up to 100 investors at the same time.

4. Naga https://invest.naga.com/copy-trading/

• Regulated by CySEC
• Naga is a forex broker itself offering copy trading as one of the key features.
• Leaderboard with top traders details.
• Auto Copy feature.
• Minimum deposit required is $250.

5. CopyFX https://www.copyfx.com/

• Regulated by CySEC.
• Minimum balance requirement is $100.
• Detailed statistics with Trader’s rating.

I also want to mention that all 5 platforms that I listed above are extremely beginner-friendly and have a fair compensation plan for their top traders/ strategy providers. That means these platforms can not only be used by novice traders but can also be utilised by experienced traders for earning additional revenue by sharing their profitable trading systems with others.

 

[gailramos]

Has anybody tried copy trading? What’s the parameter you’ve used to assess a trader’s performance? Is it ROI, drawdown, or the open position?

 

[Polymania]

Has anybody tried copy trading? What’s the parameter you’ve used to assess a trader’s performance? Is it ROI, drawdown, or the open position?

Net profit and maximum drawdown can tell you how profitable a strategy is and how well a trader has managed the losing trades, so these are two most important things that I look into while choosing a trader on Zulutrade. I also copy trade cryptos on eToro, and I look for these two things there as well. It’s also important to check the time frame of open positions because some traders don’t close their positions in the hope that the market will reverse and they can turn a losing trade into profitable trade, but it may negatively impact you as an investor. Especially if you have invested a small capital, you may get a margin call.

 

[gailramos]

Net profit and maximum drawdown can tell you how profitable a strategy is and how well a trader has managed the losing trades, so these are two most important things that I look into while choosing a trader on Zulutrade. I also copy trade cryptos on eToro, and I look for these two things there as well. It’s also important to check the time frame of open positions because some traders don’t close their positions in the hope that the market will reverse and they can turn a losing trade into profitable trade, but it may negatively impact you as an investor. Especially if you have invested a small capital, you may get a margin call.

Is there a chance that traders manipulate their net profit to look better on the rankings?

 

[Polymania]

Is there a chance that traders manipulate their net profit to look better on the rankings?

Don’t think it’s possible. Even though I don’t have experience with platforms other than Zulutrade or Etoro, I think as long as the platform is reliable and strictly regulated, there is no room for such manipulations.

 

[Mateox_28]

I'd like to share my trades, but I'm not sure how much it costs to join these copy trading platforms. Can anyone help me on this?

 

[Steler11]

I'd like to share my trades, but I'm not sure how much it costs to join these copy trading platforms. Can anyone help me on this?

As per my knowledge, most of the copy trading platforms are free to join. And there are no additional charges for sharing your trades. You can go for platforms that pay well and are well established in the market.

 

[Windy_99]

I'd like to share my trades, but I'm not sure how much it costs to join these copy trading platforms. Can anyone help me on this?

Some of the well known copy trading platforms that you can consider are:

• Zulutrade
• eToro
• Avatrade

You can check out their respective websites to find out how much they charge and decide what suits you best.