Best Copy Trading Platforms and Brokers 2024

A copy trading platform software allows investors to automatically replicate the trading actions of other, more experienced traders. There are many competing softwares in the market, but our experts have reviewed and rated the best copy trading brokers and their platforms in this test updated for 2024.

Top 5 Copy Trading Platforms

In our broker reviews we have found that these are the 5 best copy trading platforms:

Copy Trading Platforms Comparison

Copy Trading Platforms Comparison
Broker Social Investing Minimum Deposit Instruments Platforms Regulators Visit
eToro USA logo
$10 Stocks, Options, ETFs, Crypto eToro Trading Platform & CopyTrader SEC, FINRA Visit
DNA Markets logo
$100 CFDs, Forex, Indices, Commodities, Stocks, Crypto MT4, MT5 ASIC Visit
Pocket Option logo
$50 Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos Web, MT4, MT5 MISA Visit
IQCent logo
$250 Binary Options, CFDs, Forex, Indices, Commodities, Crypto Online Platform, TradingView IFMRRC Visit
Videforex logo
$250 Binary Options, CFDs, Forex, Indices, Commodities, Crypto TradingView - Visit
ForexChief logo
$10 CFDs, Forex, Metals, Commodities, Stocks, Indices MT4, MT5 VFSC Visit
Pionex logo
$0 Cryptos Own FinCEN Visit
RaceOption logo
$250 Binary Options, CFDs TradingView - Visit
BinaryCent logo
$250 CFDs, Forex, Stocks, Cryptos, Options, Commodities Own VFSC Visit
World Forex logo
$1 Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts MT4, MT5 SVGFSA Visit

#1 - eToro USA

Why We Chose eToro USA

You can mirror the positions and strategies of up to 100 other traders with the market-leading eToro US copy trading service. Unlike many competitors, eToro gives you more control over your portfolio, allowing you to stop or pause a copied trade at any time. Pricing is also fairly competitive, with only $1 required to copy a position. eToro copy trading is for crypto only.

"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."

- DayTrading Review Team
  • Instruments: Stocks, Options, ETFs, Crypto
  • Regulator: SEC, FINRA
  • Platforms: eToro Trading Platform & CopyTrader
  • Minimum Deposit: $10
  • Minimum Trade: $10

About eToro USA

eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.

Pros

  • The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
  • A free demo account means new users and prospective day traders can try the broker risk-free
  • The $10 minimum deposit and straightforward account opening process means beginners can get started quickly

Cons

  • There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
  • Average fees may cut into the profit margins of day traders
  • There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools

#2 - DNA Markets

Why We Chose DNA Markets

DNA Markets offers Signal Start, a user-friendly copy trading solution. The tool is easy to use and new traders enjoy the first 3 months subscription-free. On the negative side, it lacks the social trading features you get with more comprehensive apps like eToro.

"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "

- DayTrading Review Team
  • Instruments: CFDs, Forex, Indices, Commodities, Stocks, Crypto
  • Regulator: ASIC
  • Platforms: MT4, MT5
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

About DNA Markets

DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 250+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.

Pros

  • 24/5 customer support with response times of <2 minutes during testing
  • Top-rate platforms and charting tools for day traders with access to MT4 and MT5
  • Convenient account funding with 7 base currencies, a $100 deposit and a wide range of payment methods

Cons

  • Although it continues to strengthen its client base and reputation DNA Markets lacks the track record of top brokers like Vantage
  • Despite access to MT4 and MT5, there is no proprietary trading app
  • The investment offering trails alternatives, especially in terms of stocks, cryptos and commodities

#3 - Pocket Option

Why We Chose Pocket Option

Pocket Option hosts a user-friendly social trading service. Available in the platform, you can use the ‘Top Ranked Trades’ leaderboard, among others, to find traders to follow. The social trading solution is also available 24/7 and has active community chats. Tip: check the number of trades made and profit generated over several months rather than comparing providers over a few days.

"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."

- DayTrading Review Team
  • Instruments: Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
  • Regulator: MISA
  • Platforms: Web, MT4, MT5
  • Minimum Deposit: $50
  • Minimum Trade: $1

About Pocket Option

Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.

Pros

  • The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks
  • The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries
  • Extremely fast and smooth sign-up process that takes less than 2 minutes

Cons

  • Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
  • The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
  • You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available

#4 - IQCent

Why We Chose IQCent

A copy trading service is pre-integrated into the broker’s web platform, where you can follow and replicate the trades of up to 10 established investors. Where it shines is its ease of use - you simply decide how much you want to invest and hit 'copy'. On the downside, the pool of master traders is narrow and you get limited data on past performance, making it less reliable.

"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "

- DayTrading Review Team
  • Instruments: Binary Options, CFDs, Forex, Indices, Commodities, Crypto
  • Regulator: IFMRRC
  • Platforms: Online Platform, TradingView
  • Minimum Deposit: $250
  • Minimum Trade: $0.01
  • Leverage: 1:500

About IQCent

IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.

Pros

  • IQCent is one of the few binary options brokers that also offers a copy trading service for hands-off traders
  • There's an accessible $0.01 minimum stake for new day traders with a small budget
  • The proprietary terminal offers TradingView-powered charts which deliver dozens of technical indicators and studies

Cons

  • The broker is not overseen by a respected regulator, though this is common among binary options firms
  • IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
  • The market analysis is very basic with limited technical summaries and insights from analysts

#5 - Videforex

Why We Chose Videforex

Videforex offers an integrated copy trading service where users can automatically or manually replicate the positions of other traders. Simply choose a trader and asset class and specify the investment amount.

"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."

- DayTrading Review Team
  • Instruments: Binary Options, CFDs, Forex, Indices, Commodities, Crypto
  • Platforms: TradingView
  • Minimum Deposit: $250
  • Minimum Trade: $0.01
  • Leverage: 1:500

About Videforex

Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.

Pros

  • The support times are fast and reliable based on tests - few brokers offer 24/7 multi-lingual video support
  • The firm facilitates both day trading and binary options which is great for those looking to diversify their portfolios
  • Global clients can make free and fast transfers via a wide range of payment types, from credit cards to cryptocurrencies

Cons

  • US clients aren’t accepted due to legal restrictions
  • No MetaTrader 4 integration
  • The broker isn’t overseen by a trusted regulatory agency

How Copy Trading Platforms Work

Copy trading brokers provide a platform that connects aspiring investors with experienced traders, enabling them to mirror positions and strategies in their own accounts. As a result, beginners can start trading with very limited effort.

On the downside, losing trades will also be reflected in the investor’s account, so selecting good traders to copy is essential.

A good copy trading platform offers trading on multiple markets, from forex and cryptos to stocks and commodities. Investors can often get started with just $10 and typically pay a small commission to the signal provider based on the volume traded.

Importantly, the best copy trading platforms make it easy to find a master trader, providing detailed insights into their returns, strategies, and risk ratings.

Leading copy trading providers also rank the highest-performing master traders so investors can quickly find a suitable signal provider based on their goals and risk tolerance.

Independent Copy Trading Platforms

Depending on the broker, copy trading can be offered through proprietary software or an independent, third-party platform such as those listed below. Some brokers offer additional research tools or networking forums, such as Telegram or TradingView.

MetaTrader 4

Meta trader 4 mirror trading

MT4 has been set up so you can mirror the trades and automatically copy the strategies of successful traders. Select the Signals tab from within the platform for access to over 3,200 free and paid signals from top forex providers. Traders are ranked in order of results, so it’s quick and easy to choose a provider and select your parameters. You can then start copying trades in both live and demo settings.

Best MT4 Brokers

The best brokers to use if you want to copy trade using Meta Trader 4 are:

  1. AvaTrade
  2. Vantage
  3. BDSwiss
  4. XM
  5. IC Markets

Below you can learn how to start copy trading using MetaTrader 4.

  1. Open an account with a MT4 broker.
  2. Deposit money to your account.
  3. Download MetaTrader 4.
  4. Open MetaTrader 4.
  5. Go to the Signals Tab located at the bottom of the screen.
  6. Choose a signal provider.
  7. Select a free or paid subscription.
  8. Click the Subscribe button.
  9. Select trade parameters

You can see the trade statistics of the copy trading subscription by clicking the “My Statistics tab”. You can easily stop copying a  trader at any time by clicking on the signal provider and then clicking the unsubscribe button.

MetaTrader 5

meta trader 5 mirror trading

Similar to MT4, you can automatically replicate the trades of others on the MT5 platform. Masters and followers do not need to be signed up with the same broker – the MT5 platform connects traders across continents and brokerages. Subscription prices are fixed in the MT5 market place, and rapid data exchanges help to reduce execution delays making the platform ideal for copy trading.

Best MT5 Brokers

The best brokers to use if you want to copy trade using Meta Trader 5 are:

  1. AvaTrade
  2. Vantage
  3. derive.com
  4. BDSwiss
  5. XM

How to Copy Trade Using MT5

Below you can learn how to start copy trading using MetaTrader 5.

  1. Open an account with a MT5 broker.
  2. Deposit money to your account.
  3. Download MetaTrader 5
  4. Open MetaTrader 5.
  5. Go to the Signals Tab in the “Toolbox” menu located on the bottom of the screen.
  6. Choose a signal provider.
  7. Select a free or paid subscription.
  8. Click the Subscribe button.
  9. Select trade parameters

You can see the trade statistics of the copy trading subscription by clicking the “My Statistics tab”. You can easily stop copying a  trader at any time by clicking on the signal provider and then clicking the unsubscribe button.

eToro USA DNA Markets Pocket Option
MetaTrader 4 No Yes Yes
MetaTrader 5 No Yes Yes
Copy Trading App iOS & Android iOS & Android iOS & Android
App Rating
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cTrader

ctrader
Another popular platform is the integrated cTrader solution. Once clients have opened an account, they can navigate to the Copy area to explore available strategies and compare providers’ history, risk appetite, and fees. Clients decide how much they want to allocate to mirror a particular trader, and are free to copy multiple providers simultaneously.

DupliTrade

duplitrade

DupliTrade offers leading automated copy trading technology. Users have the flexibility to select what proportion of trades they’d like to copy, and the option to scale up and down. Users can copy trades in forex, stocks, indices and commodities markets. Those wishing to sell their trades have to pass a rigorous audit progress while clients are presented with all the facts and figures they need to make an informed decision.

eToro USA DNA Markets Pocket Option
cTrader No No No
DupliTrade No No No
Copy Trading App iOS & Android iOS & Android iOS & Android
App Rating
Visit Visit Visit Visit
Review Review Review Review
DupliTrade interface
Screenshot of DupliTrade

Comparing Copy Trading Platforms

With a growing list of copy trading softwares in 2024, here are the key factors to weigh up when choosing a provider:

Software

Some copy trading companies offer their own platform, such as AvaTrade’s AvaSocial, while many providers use popular third-party copy trading softwares, such as ZuluTrade, DupliTrade, or Myfxbook.

Importantly, look for a copy trading platform with an intuitive interface, easy access to the broker’s highest-performing traders, and straightforward tools to compare signal providers.

💡
Check there are no monthly fees to use third-party copy trading platforms before signing up for an account.

Apps

The best copy trading brokers also offer a mobile-compatible app softwares, available on iOS and Android devices.

The top-rated copy trading apps should offer seamless integration between the desktop software and mobile/tablet solution, allowing users to follow master traders and manage their accounts while on the go.

Quality & Quantity

The best copy trading platforms have thousands of signal providers spanning multiple asset classes.

Leading firms also offer detailed performance metrics so investors can analyze short, medium and long-term profits, drawdowns, risk ratings, strategies and systems, number of followers, and trade frequency.

Market Access

Top-rated copy trading brokers offer signals and opportunities on popular markets. This includes US and European stocks, global indices, major, minor and exotic forex pairs, precious metals and energies, plus cryptocurrencies like Bitcoin.

A good range of asset classes means more opportunities to build a diverse portfolio while learning about new markets.

Fees & Costs

Copy trading platforms have different pricing structures. Some will charge a flat fee based on the volume traded/copied while others only take a commission on profitable trades.

Importantly, any fee owed directly to the master trader should be transparent and known upfront.

Control & Flexibility

The best copy trading firms give you the flexibility to manually adjust trades and positions. The top providers allow you to filter trades based on returns, losses and costs.

Copy Period

The top copy trading companies allow you to immediately stop following the trades of signal providers. Firms should not lock you in for a fixed period which could lead to mounting losses.

Minimum Investment

The highest-rated copy trading platforms have a low minimum investment requirement, making it easy for beginners and those on a budget to get started.

This can be as low as $10 at some providers while other firms require several hundred dollars.

Demo Account

An effective way to test the quality of a copy trading broker’s signals and tools is through free demo accounts. These paper trading profiles allow you to trial a firm’s software before registering for a live account.

Investors usually need to provide basic contact details to get started.

Regulation

The top copy trading platforms are regulated by a reputable financial agency, such as the UK Financial Conduct Authority (FCA), the Cyprus Securities & Exchange Commission (CySEC), or the Australian Securities & Investments Commission (ASIC).

Signing up with a regulated copy trading brokerage means various customer safeguarding measures should be in place, such as the provision of negative balance protection, restrictions on excessive leverage and misleading promotions, plus access to compensation schemes should the brokerage go bankrupt.

Customer Support

The best copy trading companies have a responsive customer support team on-hand to help with any queries or issues. Leading copy trading firms offer support 24/5 via live chat, telephone, and email.

A growing list of copy trading platforms also provides assistance through social media channels, such as WhatsApp and Facebook Messenger.

Copy Trading Apps

Increasingly traders are doing most of their trading using one of the best trading apps on the market, which is also true for copy trading. These are the top copy trading apps currently:

DNA Markets Pocket Option IQCent Videforex RaceOption
Copy Trading App iOS & Android iOS & Android iOS & Android Android iOS & Android
iOS Att Rating
Android App Rating
Visit Visit Visit Visit Visit Visit
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There are also independent copy trading apps – MetaTrader 4, MetaTrader 5 and other trading platforms offer downloadable mobile apps for iOS and Android devices. Once installed, clients can compare traders, consider strategies, fund their accounts, and start copying trades in a few clicks.

Bottom Line

Good copy trading platforms make it easy for beginners to find and follow the strategies of experienced traders. Leading providers also offer an intuitive platform to master traders with the tools to reach a large base of potential followers and create a second revenue stream.

Use our ranking of the best copy trading platforms to find a broker that aligns with your financial goals and risk tolerance.

FAQ

What Is The Best Copy Trading Platform?

That depends on your location. See our list of copy trading platforms to find out which broker is ranked #1 in your country.