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Best Copy Trading Brokers Description

Best Copy Trading brokers

The ascent of copy trading – also known as social trading,
mirror trading, or auto trading – has been ongoing for the last decade. Thanks to social media and an increasingly faster web, financial news and market analysis propagate at lightning speed.

The idea of copy trading is simple: use technology to copy the real-time forex trades (forex signals) of other live investors (forex trading system providers) you want to follow. This way, every time they trade, you can automatically replicate (copy) their trades in your brokerage account.
It is essential to understand that copy trading is only a subset of social
trading.
Although people who do not understand the term tend to
confuse the terms and use them in replacement of each other. Copy trading is only a branch of the overall copy trading strategies. Knowing that not all brokers are created equal, there are some brokers that are not completely in support of copy trading.

Therefore, if you are a copy trading enthusiast, you might find doing business with such brokers frustrating. This is nothing to be worried about as there are a lot of best copy trading brokers out there that are ready to welcome you with open arms should you decide to do business with them.

Here, we are going to answer a few questions you might have on your mind before we
delve right into the list of the best copy trading brokers we have for you:

Is copy trading legal?

Copy trading is legal in most countries, pending the broker itself is properly regulated. When investing in the financial markets through a regulated-broker, procedures during the account opening process help ensure it is legal for you to trade, depending on your country of residence.

How does copy trading work?

With copy trading, a trader (signal provider) shares their real-time trades with other traders (users). Using a copy trading platform, the users can, in real-time, automatically copy the trades of the signal provider.

Each copy trading platform providers optional controls to protect investors. For example, traders can customize the amount of capital they are risking and which signals to copy.

Can you make profit with copying
trades?

Like any investment, you can make money or lose money copy trading. The idea with copy trading is that you can assess the profitability of each trader before choosing which signal provider you want to follow. However, as the market adage goes, "Past performance is not indicative of future results." Copy trading is risky, and many traders lose money. Only invest what you are willing
to lose, start with a small amount of capital, and do thorough research before committing to a strategy.

How do I choose the best trading system to copy trade?

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 which has higher volatility, which means higher risk for losses. 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.

Here are the Best copy trading brokers that you can do business with:

AVATrade  

Avatrade is a top forex broker based in Ireland and regulated in Europe by the Central Bank of Ireland. They are one of only a few top forex brokers to offer fixed spread forex trading.
The broker also offers an extensive range of trading platforms for
you to choose from. Included within this is the Duplitrade platform
specifically for copy trading. The fixed spread on all of the assets traded on
the Duplitrade platform starts from 1.3pips.

FBS

FBS is another of the best copy trading broker around. They are again one of the choice forex brokers for new traders in part due to the range of FBS account types available. These accounts include their Cent account which is available for a minimum deposit of just $10.

FBS does offer an extensive copy trading service. Unfortunately, though, this service is not currently available to European copy traders. If you are eligible to register under IFSC regulations though, you can get started with a deposit
of just $100.

FXTM

FXTM is a very well-known and respected international ECN broker who is also very active particularly within the Asian and African markets. They are another top broker who offers an extensive range of account type choices. On account types, FXTM has 6 in total to offer you as a forex trader. This includes their cent account that can be
opened with a minimum deposit of just$10. This award-winning broker also offers the FXTM Invest service for a minimum deposit of $100.

Best Copy Trading Brokers
Easy Markets Review
Min. Deposit from $100
Leverage upto 1:400(1:30 for EU clients)
Trading Platforms easyMarkets Platform, MT4
Regulators ASIC, CySEC

VantageFX Review
Min. Deposit from $200
Leverage up to 1:500
Trading Platforms Web MetaTrader 4 MetaTrader 5
Regulators ASIC, FCA, CIMA

HYCM Review
Min. Deposit from $100
Leverage 1:500(1:30 for EU clients)
Trading Platforms Platforms: MT4 and MT5 (for now)
Regulators CIMA, CySEC, DFSA, FCA

NSB Review
Min. Deposit from $250
Leverage upto 1:50
Trading Platforms MetaTrader 5
Regulators MFSA

BlackBull Markets Review
Min. Deposit from $200
Leverage 1:500(1:30 for EU clients)
Trading Platforms MT4, MT5, WebTrader
Regulators FSPR, FSCL

Ava Trade Review
Min. Deposit from $100
Leverage up to 1:400 (1:30 for EU clients)
Trading Platforms Web,MetaTrader4, MetaTrader5,cTrader
Regulators ASIC, Central Bank of Ireland, FSCA, JFSA, JFFA, BVIFSC

Robomarkets Review
Min. Deposit from $100
Leverage 1:30
Trading Platforms Web, MetaTrader4, MetaTrader5,cTrader
Regulators CYSEC

Fortrade Review
Min. Deposit from $100
Leverage 1:30
Trading Platforms MT4, WebTrader, Mobile Trader
Regulators FCA, ASIC

PaxForex Review
Min. Deposit from $10
Leverage up to 1:500
Trading Platforms MetaTrader 4
Regulators None

FXPrimus Review
Min. Deposit from $1000
Leverage up to 1:1000
Trading Platforms Web, MetaTrader 4
Regulators CySEC, FSCA, VFSC

Think Markets Review
Min. Deposit from $5
Leverage up to 1:500
Trading Platforms Web, MetaTrader 4, MetaTrader 5, Specific
Regulators ASIC, FCA, FSCA

FXOpen Review
Min. Deposit from $1
Leverage up to 1:500
Trading Platforms Web, MetaTrader 4
Regulators ASIC, FCA

ICMarkets Review
Min. Deposit from $200
Leverage up to 1:500
Trading Platforms Web, MetaTrader 4, MetaTrader 5, cTrader
Regulators ASIC, CySEC, SFSA

FXTM Review
Min. Deposit from $10
Leverage up to 1:1000 (1:30 for EU and some non-EU clients)
Trading Platforms Web, MetaTrader 4 ,MetaTrader 5
Regulators FCA, CySEC, FSCA, FSC

XM Group Review
Min. Deposit from $5
Leverage 30:1(This Leverage applies to clients registered under the EU regulated entity of the Group. Leverage depends on the financial instrument traded.)
Trading Platforms Web, MetaTrader 4, MetaTrader 5
Regulators ASIC, CySEC, IFSC

FXCM Review
Min. Deposit from $50
Leverage up to 1:400 (1:30 for EU clients and UK clients)
Trading Platforms Trading Station, MetaTrader 4, Ninja Trader, Others
Regulators FCA, ASIC, FSCA

FP Markets Review
Min. Deposit from $100
Leverage up to 1:500
Trading Platforms Web, MetaTrader 4. MetaTrader 5, Specific
Regulators ASIC, CySEC

Axitrader Review
Min. Deposit from $No Minimum Deposit
Leverage up to 1:500 (1:30 for EU clients)
Trading Platforms WebTrader, Mobile Trading, MT4
Regulators  ASIC #AFSL number 318232,  SVGFSA #25417 BC 2019,  DFSA #Category 4 license with a "Retail" endorsement  FCA #509746