The Best Copy Trading Platforms for 2023

eToro started operating in 2007 with the mission to provide fee-free trading services to people without trading experience. Nowadays, eToro is one of the leading platforms for forex trading, allowing users to trade various assets, including commodities, stocks, cryptocurrencies, and more.

eToro is also praised as the best social trading platform with the largest network of users. At the time of writing our eToro copy trading review, this trading platform had 25 million active social trading users. If you want to try social trading with eToro copy trading, you’ll need to sign up for an eToro account and place a deposit of $10 or more.

Although there are no additional fees for copy trading, there is a $200 minimum amount for investing in trading, whereas the maximum amount is $2,000,000. One of the reasons eToro has so many users is its easy-to-navigate dashboard. You can search for traders that match your portfolio by using various filters. There’s also the Editor’s Choice page with the most popular traders to follow.

With this social trading platform, you can copy strategies from one or more traders, even up to 100, at the same time. You can also choose whether you want to copy the trader’s entire portfolio or only the latest positions. eToro offers a demo account that you can use to test your trading skills without risking your money.

Every account comes with a $100,000 virtual portfolio that is free and that you can use to practice. The main advantage of using eToro for copy trading is its large network of users. Not only can you copy trades, but you can also connect with millions of traders and discuss stock trading strategies.

Stocks, forex, cryptocurrencies, ETFs, and more

Founded in 2007, ZuluTrade is a social wealth management platform that provides trading services to clients in more than 150 countries. The ZuluTrade social trading platform is an excellent place for investors who want to follow experts, but it's also where top brokers can earn profits.

ZuluTrade was among the first copy trading platforms that enabled users to follow pro traders. It’s worth mentioning that ZuluTrade is not a broker but a social wealth management platform. ZuluTrade enables people to trade securities with a copy trading strategy by supporting more than 70 brokers, including AAAFx, ThinkMarkets, Fxview, IC Markets, and others.

Praised by millions of users for its open environment, ZuluTrade allows investors worldwide to connect with traders who provide trading signals and strategies through its partner brokers. This social trading platform offers many social tools that allow communication among users. Thanks to these tools, less experienced investors can learn from expert traders, ask them questions, and share their opinions.

ZuluTrade allows you to see other traders’ profiles, the amount they invested, and their profits. Praised as one of the best software options for beginners, ZuluTrade enables you to create a diversified portfolio of stocks, forex, commodities, cryptos, and indices. There is a mobile app for iOS and Android devices, so you can trade on the go. You can sign up for an account through the ZuluTrade website.

As ZuluTrade is not a broker, deposit requirements depend on the broker you choose. The minimum amount required to stay connected to the platform is $100. When it comes to client reviews, there are mixed feelings about this social trading software.

While some praise its user-friendly dashboard and demo account, others are not entirely satisfied with the customer service. We’ve checked the support, and we haven’t noticed any shortcomings. On the contrary - the support team is fast and answers your questions 24/5 via email, phone, and live chat.

Stocks, forex, commodities, indices, and cryptos

Pepperstone is an Australian online forex and CFD broker that offers trading in over 60 currency pairs, commodities, indices, and equities. It was founded in 2010 by a group of traders with extensive experience in global financial markets. They created a platform from traders to traders to make online trading accessible to everyone.

Trusted by 300,000 people worldwide, Pepperstone is regulated by several agencies, including CYSEC, FCA, and ASIC. It offers a variety of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5), TradingView, and the cTrader platform. Pepperstone works with some of the best social trading platforms, including MyFxBook, DupliTrade, and Metatrader Signals, to provide copy trades for its users.

Copy trading with Pepperstone is simple, but first, you’ll need to choose the platform you will use. For example, if you decide on MyFxBook, you’ll be able to copy trade from the most successful forex trading systems. At the outset, you’ll need to create a Pepperstone account with your email and choose the account type for trading. Then, you’ll need to provide information like your country of residence, password, and other personal details.

The next thing to do is connect your account with MyFxBook AutoTrade, and you are ready to copy trade. Like other social trading sites, Pepperstone enables you to trade various instruments, including dozens of currency pairs, shares, commodities, cryptocurrencies, and indices. Pepperstone’s recommended minimum amount to open an account is $200, but you can start trading even if you deposit less.

Overall, Pepperstone is a good choice if you want access to top-notch third-party copy trading providers, over 1,200 instruments, and excellent customer support. Copy trading is usually recommended for beginners, as it doesn’t require any trading experience. You just need to choose which strategies you want to copy trade. However, since you’re investing your money, it’s always better to start with a free demo account offered by Pepperstone.

Pepperstone is currently not accepting clients from the US and Canada.

Risk Warning: 74-89% of retail investor accounts lose money when trading CFDs.

Forex, shares, commodities, cryptocurrencies, indices, ETFs (offered as CFDs only) 

Trusted by over 300,000 customers worldwide, AvaTrade is one of the best copy trading platforms for beginners and professional traders alike. AvaTrade has more than two million trades per month, providing its service on six continents. According to client reviews on Trustpilot, AvaTrade delivers excellent customer service and support for beginners, boasting a score of 4.7.

Social trading with AvaTrade means that you’ll be able to copy trading strategies from experienced brokers, money managers, and hedge funds. This copy trading platform will also allow you to connect with peers, find mentors, and receive real-time market updates. AvaTrade’s copy trading is available through three copy trading platforms: ZuluTrade, DupliTrade, and AvaSocial.

ZuluTrade, a social trading platform, allows users to follow expert traders and mimic their investment strategies. Should you decide to use ZuluTrade, you’ll get access to the most prominent signal providers or traders who have developed top-notch trading strategies that they are ready to share with their followers.

The next option, DupliTrade, is a good choice if you want an easy-to-use platform to copy trading strategies from multiple providers. Finally, there’s the AvaSocial app that you can download and use to automate your trades. AvaTrade copy trading allows you to trade various assets, including popular forex pairs, stocks, commodities, indices, and cryptocurrencies.

The minimum amount you need to deposit to open an AvaTrade account is $100. Like other social trading apps, AvaTrade provides a demo account that you can use to practice and learn forex trading. Another benefit that you’ll enjoy with AvaSocial is multilingual customer support. The app also allows you to choose among different languages, including English, French, German, Spanish, and many others.

Forex, indices, commodities, stocks, cryptocurrencies

The next one on our list of copy trading platforms is FXTM. Established in 2011, FXTM is one of the most popular forex brokerages and platforms for copy trading, with over 4 million users in 180 countries. FXTM is applauded for its user-friendliness and educational materials, and has a 3.4 score on Trustpilot. FXTM is a perfect place to start learning forex trading.

On the FXTM website, you’ll find materials such as free courses and guides that will help you improve your trading skills, learn about binary options, CFD strategies, and more. FXTM has an extensive network of expert traders that you can follow. There are over 5,000 traders that you can search, thanks to the FXTM Invest platform.

You can find and assess traders, pick those that match your financial goals, and copy their strategies automatically in real time. This copy trading app enables you to choose one or more traders based on various criteria like their profits, number of followers, and risk level. Then, you’ll need to choose how much money you want to invest.

The minimum amount to open an account at FXTM is $10, but you’ll need to invest at least $100 to start copy trading. You can use all the money to follow the strategies of only one trader or choose more and allocate funds to a number of traders. With FXTM, you can benefit from manual, semi-automated, and automated copy trading.

For example, if you prefer to be in control, you can choose which position you want to copy and trade on your own. Otherwise, you can automatically copy all the trader’s positions. FXTM is one of the best copy trading forex brokers, but other markets are also available, including stocks, indices, and commodity markets.

Forex, commodities, indices, stocks

OctaFX has been operating since 2011, and so far, over 10 million accounts have been opened. Its services are available in over 150 countries across the EU and Asia; however, it doesn’t cater to the US market. OctaFX has created a consumer-oriented platform that enables users to have an above-average trading experience owing to its easy-to-use trading tools and plenty of educational materials.

That’s why OctaFX is well-known as one of the easiest platforms for beginners, guiding them as they enter the world of forex trading. OctaFX connects experts who share their trading signals with other users. It offers the best copy trading app for Android phones; however, there’s no app for iPhones.

With the OctaFX Copytrading app or desktop version, you can search for traders and copy their strategies. The website features a list of master traders, so you can easily find those you want to follow. For every master trader, you can see the performance, risk score, number of copiers, and more. The online dashboard offers filters that you can use to find traders that perfectly fit your needs.

For example, you can filter traders based on their level of expertise, ranging from “newcomer” to “legend”. This forex trade copy service supports you in creating a diversified portfolio as you’ll be able to trade across various markets, including forex, CFDs, commodities, and cryptos.

The downside of the platform is that it offers a limited number of financial instruments to trade compared to other brokers. For example, there are only 32 forex pairs that you can trade. Still, it’s enough to create a diversified portfolio with balanced trading strategies. OctaFX offers you full control over your portfolio - you can start to follow and copy an unlimited number of experts any time you want, but also stop copying them.

Forex, CFDs, commodities, and cryptos