Best Forex Copy Trade Service Provider 2023
For this list, we have searched and tested several Copy Trade Service Providers available in Forex market.
In our research, we selected the best Forex Copy Trade Service Providers in 2022. We also tried to give answers to the most important questions related to copy trading providers.
What is Copy Trade Provider in Forex Trading?
Copy Trading is rapidly evolving and expanding digital service and improves the business experience and brokerage company’s revenues. Many Copy Trade Service Providers offer multiple opportunities for the most progressive brokers. They provide a range of tools that might be purely copy trading tools or social trading tools with copy features. Since the growing demand will serve them well, brokers should pay closer attention to including the copy trading feature in their proposals.
Copy Trading is a form of social trading enabling users to “copy” the position of other traders typically with a proven track record. Copy trading links the trader’s funds to the copied account henceforth allowing to copy any action taken by the copied trader which can be executed either automatically or manually. The copying traders are free to manage the copying process by disconnecting the copied trades. The traders can also completely shut down the copy relationships with investors which will close all the opened positions. The copying trader often pays a monthly flat subscription fee to copied traders as compensation.
Many top-notch third-party platforms provide the core feature of copy trading for brokers. Here are some of the most popular third-party copy trade platforms:
|📋||MetaTrader 4 (by MetaQuotes Software)|
|💻||MetaTrader 5 (by MetaQuotes Software)|
|📋||cTrader (by Spotware Systems)|
Benefits of copy trading in forex:
|📈||Allowing to invest with a limited market knowledge|
|⌛️||Automated copy trading saves time|
|📋||Providing insights on how experienced traders operate|
|💵||Enhanced Risk Management|
|💭||Removes emotions from trading decision process|
Best Copy Trade Technology Providers
There are many copy trade service providers in the forex market. Determining the best copy trading provider for your forex proposal range should be your top priority.
In order to pick the copy trading service provider that is just right for your need, good to pay closer attention to the provider’s reputation and the range of features it provides. Also, ensure the platform is easy-to-use and has decent customer service with easy to instal copy algorithms.
To pick the best Forex Copy Trading Service Provider, we searched and reviewed several companies in the market, mainly these are popular Trading Platform providers with integrated Copy Trading Solutions, or available at an extension on web (ZuluTrade). Here’s our list of top copy trading service providers:
- Spotware Systems – Best cTrader Copy Trade
- MetaQuotes Software – Best MT4 Copy Trade provider
- MetaQuotes Software – Best Copy Trade MT5
- ZuluTrade – Best ZuluTrade Copy Trading
- MyFxbook – Best Copy Trade Signals Provider
- MetaQuotes Software – Best Copy Trade EA (based on MT4 or MT5 Platform)
Top Providers of Copy Trading Technology
When deciding on the best Forex Copy Trade Service Providers, there are several important factors to consider. One of these is a reliable platform and easy use that will meet all your needs as well as have affordable prices for different types/sizes of businesses with various requirements.
Here we picked the Best Copy Trade Service Providers in the market:
|Copy Trade Provider||Services and Features||Pricing|
|MetaQuotes Software||MT4/MT5 Copy Trading, Trading Signals, EA Trading, Automated Trading, VPS, MQL4/MQL5 Programming, Strategy Tester||For MT5:|
Entry – $1,000
Enterprise – $200,000
Pricing Request is Required
|Spotware Systems||cTrader Copy Trading, Open API, FIX API, Automated Trading, Risk Management, White Label||Pricing Request is Required|
|Zulutrade||Copy Trading, Signal Trading, Risk Management,||Pricing Request is Required|
|DupliTrade||Copy Trading, Algorithmic Trading,||Pricing Request is Required|
|MyFxbook||Copy Trading, Signal Trading, Forex News, FX Calculator, Sentiment||Pricing Request is Required|
|Trade Copier||Copy Trading, Mirror Trading, Reverse Trading, Stop Loss and Take Profit, High-Frequency Trading, Pending Orders, Email and SMS Notification||1 month – 19 EUR|
3 months – 51 EUR
1 year – 144 EUR
FAQ and More on Copy Trading Services
In this part, we gather common questions about Copy Trade Service Providers. Usually, people have many questions related to copy trading and here we assist in that.
Each trading copy trading platform has its pros and cons. Before acquiring a copy trading provider that is right for you you need to determine your goals and needs.
Is Copy Trade Safe?
Copy trading itself is software for copying the trader activity, so the provider should be a reliable copy trading service including a good Copy Trade Platform provided by the best copy trade Broker who holds good licenses and regulations for safety. Besides trading community of the broker should be large and provide good statistical data to choose the best profile to be copied.
Therefore choosing a good Forex Broker with Copy Trading and powerful technology is a priority for safe Copy Trade first. It goes to a good selection of the trading account that suits the trading need the trader is going to copy.
Check out our top forex brokers for copy trading.
Is There Free Copy Trade Software?
Copy trading as a service might be free only for users meaning that traders who use a particular broker can use its copy trading feature for free or for a flat fee based on broker’s offering. However, brokerage companies willing to integrate the copy trading feature into their offerings should find a deal with copy trading providers.
Copy Trading by Instruments
Copy Trading Providers offer multiple instruments to copy, the range of instruments available depends on each broker’s offering. Here are some of the instruments included for copy trading:
- Crypto Copy Trading
- Currency Copy Trading
- CFD Copy Trading
- Indices Copy Trading
- Bitcoin Copy Trading
- Binary Option Copy Trading
Author of this review
By George Rossi
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.
Now I am passionate about reviewing and comparing forex brokers.
Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology