DupliTrade
DupliTrade is a copy trading platform that works with MT4 alongside partner brokers. Our review covers how DupliTrade brokers work, the login process, plus fees and strategy providers. Find out which brokers offer DupliTrade in 2024, as well as how to compare supporting brokerages.
DupliTrade Brokers
#1 - AvaTrade
Why We Chose AvaTrade
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
- Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
- Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail) 1:400 (Pro)
Pros
- AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
- Day traders can access stable spreads and zero commissions with no hidden fees
- The broker offers reliable 24/5 multilingual customer support with fast response times during testing
Cons
- It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
- There is no ECN account with raw spreads
#2 - Pepperstone
Why We Chose Pepperstone
Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
- DayTrading Review Team
- Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
- Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
- Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
- Minimum Deposit: $0
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro)
Pros
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
- Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
- There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
Cons
- There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
#3 - IC Markets
Why We Chose IC Markets
IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Regulator: ASIC, CySEC, FSA
- Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
- Minimum Deposit: $200
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
Pros
- With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
Cons
- There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
#4 - Vantage
Why We Chose Vantage
Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
- Regulator: FCA, ASIC, FSCA, VFSC
- Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade
- Minimum Deposit: $50
- Minimum Trade: 0.01 Lots
- Leverage: 1:500
Pros
- There’s an excellent suite of day trading software, including the award-winning platforms MT4 and MT5
- Vantage caters to hands-off investors with beginner-friendly social trading via ZuluTrade & Myfxbook
- The ECN accounts are very competitive with spreads from 0.0 pips and a $1.50 commission per side
Cons
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- Unfortunately, cryptos are only available for Australian clients
#5 - FxPro
Why We Chose FxPro
Founded in 2006, FxPro is an established forex, CFD and spread betting broker offering 2100+ assets to over 2 million clients worldwide. The broker is regulated in 4 jurisdictions and offers reliable 24/5 customer support, earning it a high trust and safety score. FxPro has also picked up more than 100 industry accolades for its competitive trading conditions, including fast execution and deep liquidity.
"FxPro is best for experienced traders looking for wide market access, premium research tools and advanced charting platforms. The competitive fees and fast execution will serve serious short-term traders, whilst the BnkPro investment service will appeal to those looking for long-term e-money solutions."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Futures
- Regulator: FCA, CySEC, FSCA, SCB, FSC
- Platforms: FxPro Platform, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade
- Minimum Deposit: $100
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)
Pros
- There are 4 superior day trading platforms, including a proprietary solution with over 50 indicators, 7 chart types and an impressive 15 chart time frames
- Comprehensive analysis and trading tools are available for seasoned traders, including signals powered by Trading Central and VPS hosting
- Thousands of CFDs are available across 6 asset classes with a particularly impressive range of indices and precious metals
Cons
- The broker charges a $10 inactivity fee after 6 months of account dormancy, though this is more lenient than many brokers
- There are only a handful of payment methods available, compared to the 10+ offered at top competitors like AvaTrade
- FxPro's services are mainly geared towards experienced investors and beginners may find the broker's fees and accounts complex
Copy Trading Basics
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 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.
How Does DupliTrade Work?
DupliTrade connects strategy providers with clients that have an account with one of their partner brokers. There are currently a dozen or so approved DupliTrade brokers and platforms.
After registering and receiving login details, clients can link their new copy trading account with their standard retail investing 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 getting started. Traders can monitor profits and analyze performance in real-time at the best DupliTrade brokers.
This platform is browser-based, so no download is required. The brand does not offer a mobile app at present, however the top DupliTrade brokers may have their own mobile application.
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, for example, duplicating 100% of the expert’s positions vs 25%.
Fees
The brand does not charge monthly fees for its automated copy trading service. Instead, the company receives an Introducing Broker (IB) fee directly from DupliTrade brokers.
It is also worth noting that traders must deposit a minimum of $5,000 into their brokerage account to use the platform.
Strategy Providers
The platform offers copy trading on forex and CFDs in stocks, commodities, and indices. However, the majority of current providers trade forex exclusively.
The brand has a rigorous three-step audit process for its strategy providers. The company website offers a basic profile for each provider detailing:
- Markets and instruments traded
- Net profit/loss percentage, overall profit, and initial balance
- Method (e.g. automated or semi-automated) and type (e.g. technical or trend follow)
- 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
Simulator
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.
This feature is available at most of the top brokers that offer DupliTrade.
Demo Account
The company 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.
How To Compare DupliTrade Brokers
With several leading brokers that support DupliTrade, knowing where to open an account can be challenging. To help you make the decision, we have compiled a list of the key considerations:
- Regulation – The top-rated DupliTrade brokers hold a license with a trusted regulator, such as the UK Financial Conduct Authority (FCA), the Cyprus Securities & Exchange Commission (CySEC), or the Australian Securities & Investments Commission (ASIC).
- MT4 add-ons – The best DupliTrade brokers offer other plug-ins and add-ons to enhance the MetaTrader 4 experience. These can include MultiTerminal to manage other accounts simultaneously, an alarm manager for real-time alerts, or stealth orders to make anonymous trades.
- Market access – While most strategy providers on DupliTrade focus on forex, are there other markets you would like to speculate on, for example, US technology stocks, European indices, or hard and soft commodities? Check the broker offers access to the instruments you wish to take positions on.
- Customer support – The best DupliTrade brokers offer 24/7 or 24/5 customer support via live chat, phone, or social media channels. Customer service representatives should be able to help with automated copy trading errors or point you in the direction of the team at DupliTrade.
- Demo accounts – The top DupliTrade brokers offer a free demo account so you can trial the firm’s tools and services before risking cash. You should be able to use thing alongside the DupliTrade test account.
Pros Of DupliTrade Brokers
There are several advantages to copy trading with DupliTrade brokers:
- Powerful simulator
- CySEC regulation so no scam warning
- Thorough auditing process for providers
- Detailed profile with statistics for each provider
- Over 10 leading brokers that support DupliTrade copy trading
Cons Of DupliTrade Brokers
- Limited number of strategy providers
- Predominantly forex markets
- $5,000 minimum deposit
DupliTrade vs ZuluTrade
ZuluTrade is a copy and social trading platform. It is larger than DupliTrade, with a trade 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 DupliTrade.
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 markets are also offered at ZuluTrade.
DupliTrade Verdict
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.
See our list of the best DupliTrade brokers to start copy trading.
FAQs
What Brokers Are Partnered With DupliTrade?
The company has around 12 broker partners that clients can choose from. They include major firms like AvaTrade and Pepperstone. Head to our full list of DupliTrade brokers to find the right provider for your financial goals.
What Is The Minimum Deposit At DupliTrade Brokers?
Clients must have a minimum deposit of $5000 or currency equivalent in their broker account. This is fairly high and more than the requirement at other copy trading platforms, such as ZuluTrade. Note, some DupliTrade brokers may have a lower minimum deposit to open a live account, but you will still need to meet the DupliTrade minimum to use the brand’s copy trading service.
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. Many of the best DupliTrade brokers are also licensed by reputable financial agencies.
How Does DupliTrade Work?
DupliTrade works with your MT4 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. We have reviewed the top DupliTrade brokers.
How Many Strategy Providers Are Available At DupliTrade Brokers?
The company has around a dozen strategy providers. These experienced investors have all been carefully investigated and their performance tested. When you sign up with DupliTrade brokers you will be able to view the full trading history, including profit and loss, before you start automated copy trading.