Best Copy Trading Platforms and Brokers in 2024

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

Top 5 Copy Trading Platforms

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

Best Copy Trading Platforms and Brokers in 2024 Comparison

Best Copy Trading Platforms and Brokers in 2024 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
  • Min. Deposit: $10
  • Min. 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
  • Investors can access Smart Portfolios for a more hands-off approach, covering a range of sectors and markets such as renewable energy and artificial intelligence
  • A free demo account means new users and prospective day traders can try the broker risk-free

Cons

  • There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
  • The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
  • Average fees may cut into the profit margins of day traders

#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
  • Min. Deposit: $100
  • Min. 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

  • Convenient account funding with 7 base currencies, a $100 deposit and a wide range of payment methods
  • Short-term trading strategies are permitted including scalping and automated trading using Expert Advisors (EAs)
  • Low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees

Cons

  • 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
  • There are limited educational and research tools, reducing its appeal to beginners

#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
  • Min. Deposit: $50
  • Min. 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

  • Extremely fast and smooth sign-up process that takes less than 2 minutes
  • The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries
  • 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

Cons

  • The MISA is a weak regulator with limited investor protection for retail traders
  • You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available
  • The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month

#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
  • Min. Deposit: $250
  • Min. 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

  • The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%
  • CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD
  • There's an accessible $0.01 minimum stake for new day traders with a small budget

Cons

  • IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
  • The broker is not overseen by a respected regulator, though this is common among binary options firms
  • 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
  • Min. Deposit: $250
  • Min. 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

  • Global clients can make free and fast transfers via a wide range of payment types, from credit cards to cryptocurrencies
  • The firm facilitates both day trading and binary options which is great for those looking to diversify their portfolios
  • Videforex allows you to enter positions with just ¢0.01

Cons

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

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.

Comparing Copy Trading Platforms

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

Software

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

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Tip: 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, 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.

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.