DupliTrade Copy Trading Platform
DupliTrade is a copy trading platform that works with MT4 alongside partner brokers such as AvaTrade. Our review covers how DupliTrade works, the login process, plus associated brokers. We’ll also do a comparison with another popular copy trading platform – ZuluTrade.
What Is Copy Trading?
When copy trading, users aim to generate profits by replicating the positions of experienced traders, known as providers. The positions executed by the provider are automatically or manually duplicated in the client’s trading account, depending on the platform used. Less knowledgeable traders can use copy trading to strengthen their portfolio, though there is still an element of risk as with all investment strategies.
Find out more about copy trading.
How Does DupliTrade Work?
DupliTrade connects strategy providers with clients that have an account with one of their partner brokers. There are currently 12 approved brokers, include major regulated firms like AvaTrade and Pepperstone.
After registering with DupliTrade and receiving login details, clients can link their new copy trading account with their standard retail trading account, often through MetaTrader 4 (MT4). Users can then pick the strategy providers they want to copy and decide on their preferred level of exposure before trading. Traders can monitor profits and analyse performance in real-time.
This platform is browser-based, so no download is required. DupliTrade does not offer a mobile app at present. Clients can manually execute orders and can adjust the trades placed by their chosen strategy provider via the MT4 platform. Users can also choose the proportion of trades they wish to copy, e.g. duplicating 100% of the expert’s positions vs 25%.
DupliTrade does not charge monthly fees for its automated copy trading service. Instead, the company receives an Introducing Broker (IB) fee directly from the brokers. However, traders must deposit a minimum of $5,000 into their brokerage account to use the platform.
The DupliTrade platform offers copy trading of forex and CFDs in stocks, commodities, and indices. However, the majority of current providers trade forex exclusively.
DupliTrade has a rigorous three-step audit process for its strategy providers, and at present 11 are available to clients. The company website offers a basic profile for each provider detailing:
- Markets and instruments traded
- Net profit/loss percentage, overall profit, and initial balance
- Trading method (e.g. automated or semi-automated) and type (e.g. technical or trend follow)
- Trading frequency and style (e.g. swing or trend)
- Win percentage, leverage, and profit factor
- Weeks traded and follower count
The technical trading statistics for each strategy provider are also available:
- Full trading history plus balance and equity
- Number of closed, winning and losing trades
- Profit/trade ratio, average profit and losing trade
- Gross profit and loss, maximum drawdown
- Best and worst trades and average trade time
The platform website offers a simulator that allows clients to test the past performance of strategy providers. Selecting a funding amount, time frame, and provider will generate an expansive report with statistics including monthly P/L and balance over time, total profit, and the best performing provider in the specified simulation.
DupliTrade offers a free demo account for 30 days. The account displays the outcome of each trade placed by all the strategy providers followed by the client, as executed by the professional’s broker. Users should note that in live accounts, the copied trades are executed by the client’s broker and therefore accuracy cannot be assured by DupliTrade.
Pros Of Trading With DupliTrade
There are several advantages to copy trading with DupliTrade:
- CySEC regulation so no scam warning
- Thorough auditing process for providers
- Detailed profile with trading statistics for each provider
- Powerful simulator
Cons Of Trading With DupliTrade
- Limited number of strategy providers
- Predominantly forex trading
- $5,000 minimum deposit
DupliTrade vs ZuluTrade
ZuluTrade is a copy and social trading platform. It is larger than DupliTrade, with a trading volume of over £1.2 trillion, more than one million users, and 1,000 strategy providers. Traders are rated on maturity, exposure, and drawdown, but providers do not appear to undergo the same robust auditing process provided by ZuluTrade.
The minimum deposit at ZuluTrade is broker-dependent so can be as low as $1, which makes it more accessible than DupliTrade’s $5,000 requirement. ZuluTrade also offers a wider range of features, including social charts which display market movement, plus trader comments and insights. Cryptocurrency trading markets are also offered at ZuluTrade.
DupliTrade is a CySEC-regulated copy trading platform that integrates with MT4 to duplicate the orders of your chosen strategy provider via a partner broker like AvaTrade. Its providers undergo an in-depth auditing process and potential followers have access to a large volume of trading history data plus an advanced simulator. The only downsides are the high minimum deposit requirement and the focus on forex markets.
Is DupliTrade a scam?
DupliTrade is a legitimate company with good reviews. It is regulated by the Cyprus Securities and Exchange Commission (CySEC), which closely monitors the activities of licensed firms.
What is the minimum deposit at DupliTrade?
DupliTrade clients must have a minimum deposit of $5,000 or currency equivalent in their broker trading account. This is fairly high and more than the requirement at other copy trading platforms, such as ZuluTrade.
How many strategy providers are available at DupliTrade?
At the time of writing, DupliTrade has 11 strategy providers. These experienced investors have all been carefully investigated and their performance tested.
How does DupliTrade work?
DupliTrade works with your MT4 trading account to automatically copy the strategies of the providers you have chosen. Clients must have an account with a partner broker to use the service.
What brokers are partnered with DupliTrade?
The company has 12 broker partners that clients can choose from. They include major firms like AvaTrade and Pepperstone.