What is a copy trading platform and how does it work?

In this respect, Libertex is arguably the best MT4 broker in the industry. This is especially the case if your chosen forex EA takes a day trading strategy. After all, Libertex charges tight spreads – so the EA can target modest but frequent gains without getting hammered by indirect fees.

This indicator is very useful and is called MACD (Moving Average Convergence-Divergence). Also, xcritical charges no fees to open accounts with any of the collaborating Brokers. However, it is best to confirm if there are any charges with the Broker of your preference.

Duplitrade (via Pepperstone) – Best Copy Trading Platform for Diversification

Another popular copy trading strategy at Duplitrade is that of the ‘Robust’ system. This strategy will focus on mean reverting points and breakouts in a fully automated manner. Once again, AvaTrade is a good option here – which we discussed in detail in our earlier section on ZuluTrade. When it comes to fees, Mirror Trading itself doesn’t charge anything to use its copy trading tool. Although some brokers charge an additional subscription to link your Mirror Trading account, AvaTrade offers this on a fee-free basis. As AvaTrade is a commission-free broker, this means that the only trading fee you need to factor in is the spread.

If you’re still a little uncertain about the fees, it’s worth noting that Libertex offers a demo account. It’s ideal to try using the demo account facility first and then linking this to MT5 once you’ve gained familiarity with the platform, fees, and algo trading bots. Alternatively, you might decide to copy a strategy that focuses on breakouts. This is when an asset smashes through a previously identified resistance level. Either way, there are heaps of strategies offered by the Mirror Trading tool.

Once you have filtered down by your chosen asset class – it’s then time to focus on performance. After all, you’ll want to be copying the very best copy traders in the industry. For example, popular signal service Learn2Trade https://xcritical.com/ has a team of in-house traders that will manually scan the forex and cryptocurrency markets. As you can see from the above, the eToro is the best copy trading platform to use as everything is conducted on a single platform.

They’re the world’s number one CFD provider with over 17 thousand markets to trade from including forex, indices, crypto, stocks, and more. After connecting your ZuluTrade account with Pepperstone, meeting the minimum deposit of AUD$200, and selecting a trader to copy – you’re pretty much good to go. You’ll also need to integrate your ZuluTrade account to an online broker as the platform is not regulated. You can do so via Pepperstone, an online CFD trading platform with the right tools, insight, and support to trade the world’s markets.

Investment account: don’t miss your chance to capitalize on Forex

There are also 51 major, minor and exotic currencies, 9 major indices, plus a small selection of precious metals, energies and agricultural commodities. TP Global FX – TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips. XM.com offers a wealth of additional resources on the online research and education centre. Its news channel shows a constant stream of Reuters articles to keep you in the loop with the latest financial market activity, aiding fundamental analysis.

This will, of course, be at any amount proportionate to what you have invested – and there be might some fees or commissions involved. On the other hand, you then have copy trading providers like MT4, MT5, and cTrader – all of which are third-party platforms as opposed to brokers. As such, you then need to find a suitable brokerage site and connect this to your chosen copy trading platform. Since the strategy was launched in late 2019, it has generated verified net profits of 207%.

This allows you to invest in a truly passive nature – as your chosen trader will determine which assets to buy and sell. They give a buyer and a seller the right–but not an obligation to buy or sell at a price and time in the future. If you do not want to pay any tax on your forex trading then try to opt for spread trading. Traders Combos is one of the most appealing services provided by xcritical, while three distinct features further enhance and protect investors. Now don’t get me wrong, it doesn’t mean you’re guaranteed to lose money. I’m just saying that you need to be aware of what you’re getting yourself into.

This is because they can only follow pre-programmed code – so have no understanding or knowledge of financial news or fundamental analysis. If the same trader then decides to short-sell Facebook stocks, again, you will do the same. The main concept here is that you can actively trade without needing to do any of the legwork. This is because your chosen copy trader will make all investment decisions. This includes the end-to-end process of analyzing the markets, performing research, and placing orders. With that said, we found that Duplitrade has a broader scope of strategies on its platform – making it ideal for diversification purposes.

Additional Features

Jose Labarta is a Spanish high yield swing trading strategist for FX markets who uses JM Hurst’s Cyclic theory and techniques. He takes the sentiment fluctuations of any financial market, has an adequate trading frequency, and follows a risk management policy. He has a low risk score that varies from 3-4, meaning his trading techniques are less risky than others. To completely benefit from Labarta’s copy trading, it is recommended to hold the position for at least one year. Oscar Picos from Spain is a computer engineer, entrepreneur, and short-long term investor.

• But by copying anothexcritical, you could potentially make money based on their skills.
• We receive a service from someone, we pay that provider for his or her service.
• As this copy trading platform is a regulated broker – you will need to enter your information and contact details – and then verify this via documentation.
• Between 74-89% of retail investor accounts lose money when trading CFDs.
• Like all seasoned traders, they will make use of advanced technical indicators and chart drawing tools.

For example, you can narrow your search results down by average annual gains, preferred asset class, average trade duration, and more. All products and services featured are independently selected by WikiJob. When you register or purchase through links on this page, we may earn a commission. ProRealTime Premium version Software and free premium market data by trading a little which allows me to save over €200 per month.

Best Copy Trading Platform Malaysia – Pros & Cons

Do note that MT5 charges a monthly subscription fee that varies depending on your account and even the trader you are copying. After going through several brokers with copy trading Malaysia, here are our recommended best copy trading platforms in this copy trading review. As noted earlier, there are tens of thousands of verified copy traders – so you will need to make use of the filter buttons. what Is a copy trading platform You can scroll back up to our section on How to Choose Traders to Copy for further guidance on how to select an investor. In reviewing the best social trading platforms for 2022 – you might have noticed that there are many different ways in which you can get involved. Once you have chosen an investment strategy to follow, you can then set up risk-management tools to suit your financial goals.

XM.com offers a range of account types and a $5 minimum deposit to appeal to all levels of trader. With 1000+ markets and low variable spreads XM.com provides an excellent trading experience. To cut down on costs its often a good idea to use a broker that offers a futures contract via spread bets or CFDs, which are often commission-free. We picked xcritical as the best forex trading platform based on overriding market consensus, and after an analysis of the immense benefits it offers traders. AvaTrade is the best MT4 trader based on its competitive spreads, excellent research tools and materials, and good customer service. A futures broker is a trading platform that allows individual investors to trade futures contracts.

However, there is no guarantee that you will make money when copy trading. This is why it’s important to conduct lots of research into a trader before investing any money. For example, if the trader has an average trade duration of 6 months – then you know that they are a long-term buy and hold investor. If the individual has an average trade duration of just 5 hours, then you know they are a day trader. Additionally, robots and automated software programs need to be installed into a third-party platform like MT4, MT5, or cTrader.

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It additionally includes a Managed Account Trading instrument for merchants dealing with various records and is accessible as s versatile form. The ColmexPro stage is a critical move up to xcritical Trader, xcritical website offering answer for proficient merchants. For stock CFDs, pricing is based on tiered plans starting from $0.01 per share in the Bronze plan, which goes down to $0.005 per share in the Diamond plan. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. We offer a large range of products and services to enhance your business operations.

Even in Malaysia, there are several social copy trading platforms and copy trading software to choose from. Attempting to get your head around copy trading platforms can be a daunting task. On the one hand, you have simple platforms like eToro – which offers everything in-house. That is to say, you simply need to open an account with the broker, deposit funds, and then select which traders you wish to copy.

Step 3: Choose a Trader to Copy

This means that you will also need to find a suitable brokerage site and connect it to the respective platform. Or, the robot will go long on a crypto-asset if it rises by more than 10% in a 24-hour period. Either way, your chosen copy trading robot will function 24 hours per day. Of course, not all trades like the example above will result in financial gain. The key point here is that everything that the trader does is mirrored like-for-like in your own portfolio.

After you’ve selected which copy trader you wish to mimic, you will need to click on the ‘Copy’ button. Davide Perina from Italy is a business intelligence consultant who’s been trading in eToro for three years. He’s a value investor who tries to identify companies that are undervalued by the market and holds positions for the medium-long term.

Ezekiel Chew the founder and head of training at Asia Forex Mentor isn’t your typical forex trainer. He is a recognized expert in the forex industry where he is frequently invited to speak at major forex events and trading panels. His insights into the live market are highly sought after by retail traders. The online, desktop and mobile versions of OANDA’s flagship fxTrade platform are all accessible. If you’re looking for a complete, all-in-one platform, then the award-winning IG online broker is something you should check out.

74% 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. As such, you will need to find a suitable online broker that not only offers support for MT4 and forex EAs – but heaps of markets and competitive fees.