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 2023, as well as how to compare supporting brokerages.
DupliTrade Brokers
#1 - 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, alongside a comprehensive education center and multilingual customer support.
"AvaTrade offers the full package for aspiring traders. There is powerful trading software, reliable execution, top-tier education 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, FRSA
- Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
- Min. Deposit: $100
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (Retail) 1:400 (Pro)
Pros
- The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
- WebTrader is well-suited to beginners and features a strong suite of technical analysis tools, market research and integrated education
- The broker offers reliable 24/5 multilingual customer support with fast response times during testing
Cons
- There is no ECN account with raw spreads
- There’s a steep $50 inactivity fee after three months, which is higher than the industry average
- Traders from the US are not accepted
#2 - Pepperstone
Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated brokerage offers excellent market access, industry-leading platforms in MT4, MT5, TradingView and cTrader, plus low fees with no hidden charges. Pepperstone is also heavily regulated with a high trust score, holding licenses with reputable bodies, including the FCA, ASIC, DFSA, and CySEC.
"Pepperstone is a best-in-class broker. Experienced traders benefit from razor sharp spreads, ultra-fast execution and 1250+ instruments. New traders get user-friendly platforms, rich education materials and 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
- Min. Deposit: $0
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro)
Pros
- In-depth and frequent webinars covering charting strategies and trading tips
- Wide selection of assets including currency indices like the US Dollar Index
- Multiple leading platforms including MT4, cTrader and TradingView
Cons
- It took us longer to sign up than at many alternatives
- Demo account closes after 30 days
- No proprietary trading app
#3 - IC Markets
IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.
"IC Markets offers a top-class environment for traders of all experience levels and strategies. Industry-leading platforms, superior pricing and flexible accounts will meet the needs of both beginners and active day traders."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Regulator: ASIC, CySEC, FSA
- Platforms: MT4, MT5, cTrader, DupliTrade
- Min. Deposit: $200
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
Pros
- Beginner-friendly social trading features including IC Social, Myfxbook, Zulutrade and Signal Start
- High leverage up to 1:500
- Responsive 24/7 customer support plus an extensive help centre
Cons
- No bonus deals for new traders
- Traders from the US not accepted
- Two-factor authentication not available for extra account security
#4 - FxPro
FxPro is an award-winning forex, CFD and spread betting broker with over 2 million clients worldwide. The broker is regulated in 4 jurisdictions and offers 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 traders looking for wide market access with thousands of instruments and reliable trading platforms, including MT4, MT5 & cTrader."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Futures
- Regulator: FCA, CySEC, FSCA, SCB, FSC
- Platforms: MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade
- Min. Deposit: $100
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)
Pros
- No dealing desk (NDD) intervention with fast execution speeds under 13ms
- 4 superior trading platforms including MT4, MT5, cTrader and the broker's powerful proprietary solution
- Comprehensive analysis and trading tools including signals powered by Trading Central and VPS hosting
Cons
- Limited payment methods
- Inactivity fee applied to dormant accounts
- Relatively high fees on some assets
#5 - Fusion Markets
Fusion Markets is an Australian headquartered and regulated broker that offers low-cost forex and CFD trading. Copy trading, 1:500 leverage plus multiple account types are also available, catering to traders of different experience levels and budgets. New clients can sign up and start trading in three straightforward steps.
"We recommend Fusion Markets for traders looking for the lowest fees with spreads from 0.0 pips and a $2.25 per side commission."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
- Regulator: ASIC, VFSC
- Platforms: MT4, MT5, cTrader, DupliTrade
- Min. Deposit: $0
- Min. Trade: 0.01 Lots
- Leverage: 1:500
Pros
- No fees on deposits
- 250+ trading assets
- Multiple copy trading and automated investing solutions
Cons
- No bonuses or loyalty promotions
- Limited educational materials, videos or training resources
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.