![]() Forex copy trading platforms comparisonįorex brokers comparison tool, here's a summary of the trading platforms offered by the best copy trading brokers. It's important to note that not all trading platforms with social features provide copy trading. Today, thanks to precise legal definitions and ever-evolving trading technology, regulators in nearly every jurisdiction consider copy trading to be self-directed - because the client must decide who to copy, even if the copying happens automatically (for each signal). stock trading offering at our sister site,. eToro, for example, became a broker – check out our full-length eToro review (and our review of eToro’s U.S. While some of these firms are still independent service providers, or (ISPs), others went in a new direction. ![]() Many of the early pioneers in social trading technology started out as third-party platform developers, such as Tradency, ZuluTrade, and eToro. The variety of platform options makes AvaTrade competitive in this area. Copy trading platforms: Alongside MetaTrader, AvaTrade offers its proprietary platforms, as well as ZuluTrade and DupliTrade, for social copy trading. ![]() Commissions: Compared to pricing leaders such as IG and Saxo Bank, AvaTrade does not rank among the best brokers for low-cost trading, except for clients designated as Professional traders in the EU.Trust: Founded in 2006, AvaTrade is regulated in three tier-1 jurisdictions and three tier-2 jurisdictions, making it a safe broker (low-risk) for forex and CFD trading.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. Runner-Up: AvaTradeĪvaTrade is a trusted global brand best known for offering traders an extensive selection of trading platform options. Note: Past performance is not an indication of future results. Copy trading platforms: eToro's main innovation is merging self-directed trading and copy trading under a unified trading experience.Commissions: For trading forex and CFDs, eToro is slightly pricier than most of its competitors, despite recently cutting spreads and introducing zero-dollar commissions for U.S.Trust: eToro was founded in 2007 and is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction, making it a safe broker (low-risk) for trading forex and CFDs.Here are the best forex brokers for copy trading, based on our testing of 39 brokers across 113 variables.ĮToro is a winner for its easy-to-use copy-trading platform where traders can duplicate the trades of investors across over 2300 instruments, including exchange-traded securities, forex, CFDs, and popular cryptocurrencies. Best Forex Brokers for Social Copy Trading This way, every time they trade, you can automatically replicate (copy) their trades in your brokerage account. The idea of copy trading is simple: use technology to copy the real-time forex trades (forex signals) of other live investors (forex trading signal providers) you want to follow. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Between 65% and 82% of retail investor accounts lose money when trading CFDs. These factors, together with the power of the crowd and advanced sentiment data, help to power social copy trading platforms, and the popularity of these platforms has soared as investors generate trading signals and enter the market with new positions that people want to copy.ĬFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Industry information, financial news, and market analysis now all propagate at lightning speed – thanks in part to social media and an increasingly faster web experience. Forex copy trading - also known as social trading, mirror trading, or auto trading - has been growing in adoption and general popularity for over a decade.
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