16 Best Crypto Copy Trading Platforms in 2023

After all, trading platforms generally offer educational content that helps you grow as a trader. Crypto copy trading is similar to social trading or mirror trading. It can be done manually or automatically, but automatic is better. With crypto copy trading, you use software that copies the trades of expert traders automatically. Algorithms of the trading platforms are designed to automatically copy the trade of the lead investors. However, one is in total control of trading and can overrule the software anytime.

  • If they allocate 5% of their portfolio to a specific stock sector, you’d do the same.
  • You can also see more about each trading strategy, like the trades they made, the profit and loss, the fees, and the minimum amount you need to copy.
  • To optimize the risk-reward ratio in copy trading, thorough research is necessary.

Enhanced security and risk mitigation protocols mean that your funds are always safe and always yours. Explore whether Digital Surge Exchange is the next best thing for your crypto investment journey. Discover the ins and outs of this crypto exchange in our comprehensive guide.

ommas: Best copy trading platform with trading bots

Please pay attention that your country of residence may prohibit your participation in copy trading or holding crypto assets, then it will be illegal personally for you. So, we advise checking with your local regulator if you are eligible to hold crypto assets, trade – them, or use copy trading facilities. Currently, it’s not allowed to configure auto trading bots at our platform. This functionality is planned to be released in the nearest future. But you can share your bot based trading strategy at Coinmatics right now.

  • The most important takeaway is that copy trading can happen even on exchanges that do not have the tools built in.
  • Recognizing these concerns is all part of the process of grasping what is copy trading in crypto, but do not let them get too much in the way of your own activity.
  • Yes, copy trading is legal, but each country may impose its own regulations.

When you become a follower, you can open and close trading positions automatically, get access to their trading history and earn more from your crypto without any prior knowledge. This makes Bybit one of the top trading platforms and the best copy trading for beginners if you’re focusing entirely on the crypto market. The copy trading crypto feature allows all Bybit users to follow experienced traders and realize similar gains while only contributing 10% of their profits to Principal Traders as commission. The copy trader program has a low entry barrier, as you only need to make your first deposit. Copy trading is safe, but if the trader opens a bad trade, your account will replicate that trade, and you might lose your funds. The biggest challenge is to find an experienced trader to follow, who focuses on the assets that you’re interested in.

Is copy trading legal?

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

  • He has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe.
  • While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges.
  • That being said, brokers such as the aforementioned eToro mitigate these issues and concerns, to an extent.
  • Besides copy trading, WunderTrading also offers other tools such as smart trading, pairs trading, DCA bot, and crypto portfolio tracker.
  • The biggest challenge is to find an experienced trader to follow, who focuses on the assets that you’re interested in.
  • It remains customer-focused and strives to offer the best user experience.

Another risk of using crypto copy trading apps is they may experience a system outage or cyberattack at any time. It means your assets immediate edge will depend on the performance and security of the software. Portfolio diversification is another plus point of copying trades.

Pros and Cons of Copy Trading

It has many features that help you make money with crypto, like earning interest, staking in launch pools, and prediction markets. It has many features for traders, like spot, margin, futures, options, staking, lending, savings, and more. It supports more than 350 crypto – assets with a trading fee of 0.1% per trade. Bybit is a platform where you can follow the best crypto traders in the world and copy their strategies automatically. You can also share your own trades and earn money from your followers if you are a good trader.

  • Trading signals are messages alerting you to potential trading opportunities.
  • For example, Pionex is one the best low fees copy trading platforms.
  • And like many others, you are just a beginner in crypto trading.
  • Likewise, if you’re a growth investor then you shouldn’t match the trading activity of a value investor.

Bybit currently supports up to 15 trading pairs, including BIT/USDT, ETH/USDT, XRP/USDT, and a number of other highly liquid pairs. You could potentially make money by copying another trader’s skills and experience. As a result, it is ideal for beginners because they do not need to fully comprehend the market.

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Lastly, pay attention to the fees charged by the copy trading broker. Some platforms may have higher fees compared to others, so it’s important to consider how these fees might impact your overall profits. Lastly, remember that copy trading should not be seen as a passive approach.

  • The platform does not charge any fees for copying or being copied.
  • Crypto asset investing is highly volatile and unregulated in some EU countries.
  • Social trading is the practice of traders sharing their ideas and plans through social media, forums, and other channels.
  • And, you need to pay your principal trader for copying their traders.

You can trade both spot and futures contracts of various cryptocurrencies, such as Bitcoin, Ethereum, Tether, Binance Coin, and many more. You don’t have to pay any service fee for copying trades, only a small open order fee of 0.045%. There are more than 60,000 traders and 11,000 bots to choose from, and you can see how they perform before following them. You can also decide how much money or what percentage of your portfolio you want to allocate for copy trading. You can discover, track, and select the most skilled traders through Phemex’s copy trading portal. You just need to find a trader that you like and start copying them.

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You can do copy trading on your own or through a copy trading platform. Trades happen automatically so there’s very little you have to do. Also, make sure there’s enough money in your trading account to cover trade activity. Another significant advantage of copy trading crypto is the potential for diversification.

We were looking for a place to support our strategy, and be able to share it, and we found it. The performances are excellent, the interface very intuitive and fast. Definitely something I’ll be watching closely as the platform is developing well, the base idea is great, and the system is efficient too.

Supported Cryptocurrencies

The trading history presented is less than 5 complete years and may not suffice as a basis for an investment decision. Here you will see all the pro-traders, and you can pick a trader to copy based on their performance and statistics. Phemex is a well-known exchange from Singapore that offers a copy-trading feature. The biggest drawback of this trading method is that you have to mirror everything. To learn about copy trading, one of the most important things to be informed about the actual process of copy trading.

  • The first way is that copy trading can function as a niche form of social media, where you are essentially communicating with other traders by following their actions.
  • Copy trading can also help you get familiar with new strategies, as paying attention to the trades you copy might show you new tricks to use in your own analysis.
  • Some countries may also limit or ban certain kinds of crypto assets or activities.
  • New crypto investors can easily follow and copy the trading strategies of successful traders.
  • Once the trader zeroes in on the software, the next step is to set it up.

Coinmatics copy trading service allows copying deals made by traders and trading bots, as well as receive signals from verified strategies. FXTM is a global network and has more than two million clients from 150 countries. It offers outstanding online trading services to retail clients.

Trality’s Marketplace and trend-following strategies

FXTM provides excellent educational resources for new traders, including live webinars, local seminars and videos, tutorials, and a demo account — all free of charge. FXTM offers clients the MetaTrader 4/5 (MT4&5) platform support. This gives traders a familiar, sophisticated trading interface they can use immediately. This broker platform is able to meet your needs, regardless of whether you are a forex trader newbie or an experienced trader.

Another advantage of this method is that technical analysis strategies can be applied to any number of assets. This type of trading provides less flexibility than social trading, as you are expected to follow the strategy blindly. The only choice you have is what strategy to use and when to stop using it if you do not like it. The process of copying another trader’s trades is known as “copy trading.” Instead of replicating a strategy, you replicate every action of the trader you have chosen to emulate. Manual copying can be accomplished by making the same trades as the chosen trader. One might question how they will be able to get insights into the performance of various traders.

Essential Crypto Trading Strategies for Beginners and Experienced Traders

For example, if you invest conservatively then you’d copy someone with a conservative trading bent. Likewise, if you’re a growth investor then you shouldn’t match the trading activity of a value investor. PrimeXBT is a copy trading platform that allows traders of all experience levels; from experienced to novices alike. It helps Professional traders to monetize their skills by allowing others to copy their strategies.

  • For instance, let’s say you’re interested in copy trading Bitcoin and Ethereum.
  • You can also follow and copy the best traders on NAGA with their “auto copy” feature, which shows you their strategies and results.
  • They offer features such as portfolio management, smart trade, social trading, and more.
  • With this strategy, instead of replicating an investor’s movements trade for trade, you’re mirroring their overall investment style.

In that case, you might choose to mirror Warren Buffett’s investment style. You may not necessarily buy every investment he does or every investment he recommends. But you’d base your investing decisions on the same principles he follows. You should also look at what you want to do with your portfolio.