Best Forex Copy Trading Platform 2023

For this list, we have searched and tested several forex brokers offering copy trading services.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best copy trading brokers based on our trading data and experience as a trader.

What is Copy Trading?

Copy trading allows one trader to copy the broadcasted positions of another trader, who usually has a proven track record in trading. The copied parameters include opening and closing of positions, and assigning Stop Loss and Take Profit orders.

Forex social trading

It evolved from the so-called social trading where expert traders share their trading strategies in chatrooms with fellow traders. Though copy trading can be executed manually, most of the activities are automated.

Copy Trading strategies

The popularity of copy trading skyrocketed over the past few years. This technique of trading usually lures rookie traders to copy the trading strategy and positions of other expert traders to earn from the trading activity.

Traders always have the option to opt out from coping strategies at any time by closing all positions or taking control over the trading activities.

Copied traders also get benefits as their techniques are copied. Different brokers have different strategies for rewarding the copied traders. Mostly, they earn a percentage of the capital assigned by the trader who signed up for copy trading.

What is Copy Trading Account?

A copy trading account is a specialized account offered by forex brokers that enable traders to copy the trading strategies of other traders. Usually, copy trading is just another feature available to the traders when they open an account with the brokerage.

Traders usually have to allocate a minimum capital to participate in copy trading. Though not usual, some brokers also have a maximum limit on the capital that can be allocated for copy trading.

For copied traders, they can participate in the program and can extra money from their trading activities being copied only after trading a certain amount of capital with the brokers and passing some other minimum requirements.

Some of the key highlights of trading with a copy trading account:

🏦 Spread	Usual spreads offered by the broker
📊 Commission	Yes, with an extra percentage paid to the copied trader
🛡️ Trading Strategy	Depends on the broker
🔒 Rejection	NA
💰 Re-Quotes	NA
💰 Slippage	NA

Best Copy Trading Forex Brokers

To select the best copy trading brokers, we tested and reviewed several forex brokers. We opened live accounts and deposited real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

• eToro – Best Overall Copy Trading Broker
• FXTM – Best Copy Trading Broker with Low Deposit
• Pepperstone – Best Copy Trading Broker with MT4
• NAGA – Best Copy Trading Broker for Beginners
• AvaTrade – Best Copy Trading Broker with Third-Party Integration

Best Overall Copy Trading Broker

We have picked eToro as the best overall copy trading broker.

eToro has made its name in the industry by offering copy trading services. The Israeli broker was founded in 2006 and is regulated in multiple jurisdictions like the UK, the USA, Australia, and Cyprus.

eToro started out as an independent social trading platform and then turned into a full-fledged brokerage. It now offers trading services with forex, indices, commodities, stocks, and cryptocurrencies. It offers a very easy-to-use trading platform and its copy trading services are backed by a vast community.

Best Copy Trading Broker with Low Deposit

We have picked FXTM as the best copy trading broker with a low deposit.

Traders need to deposit a minimum amount to start trading with a broker. This minimum allocation of funds is also needed to opt for copy trading.

FXTM helms as the broker with low deposit requirements as the broker only need traders to deposit $10 to start trading on its platform. For copy trading services traders need to allocate at least $100. It offers copy trading services under the FXTM Invest and has a popular platform.

Best Copy Trading Broker with MT4

We have picked Pepperstone as the best copy trading broker with MT4.

MetaTrader 4, which is one of the popular trading platforms, also has an in-built social trading Broker and allows traders to share trading strategies. Pepperstone offers MT4 trading signals and is one of the best brokers to offer copy trading services on the platform.

Apart from MT4, it also offers account mirroring services with Myfxbook and Duplitrade, two other popular platforms. Traders on Pepperstone can trade forex, indices, stocks, commodities, and cryptocurrencies.

Best Copy Trade Broker for Beginners

We have picked NAGA as the best copy trading broker for beginners.

NAGA is a German broker, known for offering copy trading services. It offers a simple, yet powerful, copy trading platform that is easy to use. New traders can pick expert trades from a leaderboard and can also share analysis on messenger.

It also offers a wide range of educational materials to new traders that cover in-depth articles, ebooks, video tutorials, and webinars.

Best Copy Trading Broker with Third-Party Integration

We have picked AvaTrade as the best copy trading broker with third-party integrations.

AvaTrade is an Ireland-headquartered broker holding operational licenses in Ireland, Australia, the UAE, Japan, South Africa, and the British Virgin Islands. It offers almost 800 trading instruments of forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs.

When it comes to copy trading, AvaTrade offers services with DupliTrade and ZuluTrade, two popular third-party copy trading platforms with massive networks of traders. AvaTrade also offers MQL5 signals services.

Copy Trading Forex Brokers List

Apart from the shortlisted copy trading platforms and apps, here is a complete list of forex brokers offering copy trading services, which we have tested and reviewed.

Forex Broker	Copy Trading Account	About Our Test	Our Review
eToro	Yes	Deposit Amount: Over $6,000 Total Trade: 18 trades	eToro Review
AvaTrade	Yes	Deposit Amount: Over €4,000 Total Trade: 21 trades	AvaTrade Review
AXI (AxiTrader)	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	AXI Review
XM	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	XM Review
Admiral Markets	Yes	Deposit Amount: Over €4,500 Total Trade: 12 trades	Admiral Markets Review
FP Markets	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	FP Markets Review
FxPro	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	FxPro Review
Pepperstone	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	Pepperstone Review
CMC Markets	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	CMC Markets Review
IC Markets	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	IC Markets Review
Vantage FX	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	Vantage FX Review
ThinkMarkets	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	ThinkMarkets Review
GO Markets	Yes	Deposit Amount: Over €4,500 Total Trade: 12 trades	GO Markets Review

FAQ and More on Copy Trading Brokers

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to copy trading platforms and apps.

Copy Trading Platform in the US

Any forex trading platform in the United States must be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA). Unfortunately, none of the copy trading platforms is operating in the country.

Though some of the overseas copy trading platforms are offering services to US residents, we highly recommend traders not invest through those platforms as they are operating illegally.

Best Forex Copy Trading App in the UK

To operate in the United Kingdom, any investment platform or trading App needs to be authorized by the Financial Conduct Authority (FCA), a well-reputed financial markets regulator. Many forex and CFDs copy trading platforms are offering services to UK traders.

Some of the copy trading platforms in the UK are:

• eToro
• AvaTrade
• Pepperstone
• FXTM 

Copy Trading Platform in Malaysia

Labuan Financial Services Authority (LFSA) is the regulator responsible in Malaysia to regulate forex brokers and copy trading platforms. Some of the regulated copy trading platforms operating in the country are:

• AvaTrade
• RoboMarkets
• Tickmill

Is Copy Trading Legal?

Copy trading is legal in most countries around the world, with only a few exceptions. We highly recommend traders check if the broker or platform offers copy trading services is well regulated.

Is Copy Safe?

Retail trading is risky, and all those risks apply to copy trading as well. Though copy trading usually involves expert traders, we highly recommend rookie traders not to be influenced by the advertised high returns and to understand the risks before investing.