Best Platforms for Copy Trading in 2024

Top Crypto Exchanges Offering Copy Trading

Here’s a list of the best crypto exchanges with copy trading features, including their fees, advantages, and disadvantages:

1. Binance (Copy Trading on Binance Futures)

Fees:

• Trading: 0.1% (reduced to 0.075% with BNB tokens).
• Copy trading: No direct fees.

Binance is the largest crypto exchange in the world, and it’s not just size that matters here. With Binance Futures, users can copy seasoned traders who specialize in derivatives and a wide array of crypto pairs. Advanced analytics and robust trading tools make it easier to choose the right traders to follow.

Advantages:

• Low trading fees.
• Massive liquidity and a wide range of cryptocurrencies.
• Reliable platform with advanced features.

Disadvantages:

• Copy trading caters more to experienced users.
• The platform may feel overwhelming for beginners.

2. Bybit

Fees:

• Trading: 0.1% (spot), 0.01% / 0.06% (futures).
• Copy trading: No direct fees.

Bybit has quickly become a favorite for crypto derivatives traders, and its copy trading feature is a welcome addition. The platform allows users to replicate the strategies of professional traders, complete with regular updates and portfolio insights. Bybit’s trading fees are also highly competitive

Advantages:

• Fast and user-friendly platform.
• Wide selection of crypto pairs.
• Minimal trading fees.

Disadvantages:

• Lacks some advanced analytics tools.
• Copy trading is a relatively new feature.

3. Bitget

Fees:

• Trading: 0.1% (spot).
• Copy trading: No direct fees.

Bitget is making waves in the crypto space with its copy trading feature that emphasizes transparency. It provides detailed performance stats for traders, making it easier for users to choose who to follow. Designed with beginners in mind, Bitget simplifies the process of replicating expert trades.

Advantages:

• Low trading fees.
• Wide range of assets and features.
• Transparent performance insights.

Disadvantages:

• Lower liquidity compared to Binance or Bybit.
• Some advanced features are missing.

4. KuCoin

Fees:

• Trading: 0.1% (reduced with KCS tokens).
• Copy trading: No direct fees.

With over 700 cryptocurrencies to trade, KuCoin offers one of the most extensive selections on the market. Its copy trading feature allows new users to follow the strategies of experienced traders while benefiting from the platform’s low fees. KuCoin is also known for its strong community support and beginner-friendly initiatives.

Advantages:

• Massive crypto selection (700+ coins).
• Low trading fees.
• Strong community and beginner-friendly support.

Disadvantages:

• Some features might be confusing for new users.
• Less detailed stats for certain traders.

5. OKX

Fees:

• Trading: 0.1% (reduced to 0.08% with OKB tokens).
• Copy trading: No direct fees.

OKX stands out for its focus on innovation and advanced trading features. Its copy trading functionality gives users access to hundreds of crypto pairs, with detailed stats on top traders to help make informed decisions.

Advantages:

• Intuitive interface with detailed trader stats.
• Advanced risk management tools.
• Wide range of cryptocurrencies and derivatives.

Disadvantages:

• Setup complexity for absolute beginners.
• Higher fees in some markets compared to competitors.

6. Phemex

Fees:

• Trading: 0.1% (spot), reduced to 0.075% with Phemex tokens.
• Copy trading: No direct fees.

Phemex is a young but ambitious platform focusing on security and efficiency. Its copy trading feature primarily targets futures trading, making it ideal for users who want to capitalize on market volatility.

Advantages:

• Simple user interface.
• Wide selection of cryptocurrencies and derivatives.
• Secure and reliable platform.

Disadvantages:

• Futures focus may be challenging for beginners.
• Relatively lower liquidity compared to Binance or KuCoin.

Final Comparison: Find Your Perfect Fit

• Need a massive crypto selection? KuCoin and Binance are your best bets.
• Focusing on derivatives? Try OKX, Binance, or Bybit.
• Prefer simplicity and security? Phemex has you covered.

Copy trading takes the guesswork out of investing by letting you follow the pros—but remember, even the experts aren’t always right. Choose your platform wisely, keep an eye on the market, and, most importantly, have fun! 🚀

Platforms Offering Copy Trading for More Than Just Crypto

Copy trading isn’t just for crypto enthusiasts—it’s a versatile tool that works across multiple asset classes, including stocks, forex, commodities, and indices. Here’s a detailed, slightly humorous look at the top platforms where you can copy successful traders and (hopefully) make some money while sipping your coffee. ☕

1. eToro

The OG of Copy Trading

Fees:

• Spreads: Starting at 0.75% for forex, variable for stocks and crypto.
• Withdrawal fee: $5 per withdrawal.
• Minimum deposit: $50 (varies by region).

eToro is like the social media of trading—it’s intuitive, fun, and full of experts to copy. With its famous “CopyTrader” feature, you can track thousands of traders based on their performance, risk score, and even trading history. It’s a great platform for those who want a little bit of everything: stocks, crypto, forex, and more.

Why It Rocks:

• Transparent stats for traders.
• Regulated in multiple jurisdictions (so, yes, your money is safe-ish).
• A wide range of assets for diversifying your portfolio.

Why It’s Tricky:

• That $5 withdrawal fee feels a bit like a rude tax.
• Inactivity fees for dormant accounts might sneak up on you.

2. ZuluTrade

The Elder Statesman of Copy Trading

Fees:

• Spreads: Vary depending on the broker linked to ZuluTrade.
• Management fee: Typically 20% of profits (performance-based).
• Minimum deposit: Usually $300, depending on the broker.

ZuluTrade is a veteran in the copy trading game, connecting traders and investors through a network of brokers. Its flexibility allows users to work with multiple brokers and customize strategies based on their risk appetite.

Why It Rocks:

• Compatible with several brokers, offering great flexibility.
• Detailed trader analytics (track their wins, losses, and quirks).
• Supports a wide range of assets, including forex, stocks, and commodities.

Why It’s Tricky:

• Your experience largely depends on the quality of the linked broker.
• Fee structures can get a bit murky—read the fine print!

3. NAGA

The Social Trader’s Paradise

Fees:

• Spreads: Start at 0.1 pips (depends on the asset).
• Copy fee: €0.99 per profitable trade.
• Minimum deposit: $250.

NAGA adds a fun, social twist to copy trading with its interactive platform. It’s a hub for younger, tech-savvy investors who want to trade crypto, stocks, and more while engaging with the community through chats and shared analysis.

Why It Rocks:

• Affordable €0.99 copy fee on profitable trades.
• Intuitive interface perfect for beginners.
• Active community where you can learn (or gossip) about trading.

Why It’s Tricky:

• The $250 minimum deposit might feel steep for casual users.
• Lacks advanced analytical tools for more seasoned traders.

4. MyDigiTrade

Flexibility Meets Simplicity

Fees:

• Management fee: 0% (no direct platform fees).
• Broker fees: Depend on the connected broker.

If you want a no-frills, flexible copy trading platform, MyDigiTrade is a solid choice. You can customize strategies to match your risk profile and monitor traders’ performance in real-time.

Why It Rocks:

• No management fees—you get what you earn.
• Advanced risk management tools to keep your investments safe.
• Supports multiple brokers for added flexibility.

Why It’s Tricky:

• Relies heavily on the quality of your chosen broker.
• Fewer traders to copy compared to competitors.

5. Darwinex

Where Strategies Become Investments

Fees:

• Management fee: 1.2% per year on the portfolio.
• Performance fee: 20% of profits.
• Minimum deposit: $500.

Darwinex is a unique platform that turns traders’ strategies into financial products for others to invest in. It’s tailored for serious investors and professional traders looking for a regulated environment.

Why It Rocks:

• High-quality trading strategies curated by professionals.
• Strong regulatory oversight for peace of mind.
• Focus on capital protection for investors.

Why It’s Tricky:

• The $500 minimum deposit might scare off newbies.
• The interface can feel overwhelming for beginners.

6. FXTM Invest

Forex with a Side of Simplicity

Fees:

• Copy fees: 5–50% of profits, depending on the trader.
• Minimum deposit: $100.

FXTM Invest is laser-focused on forex and commodities, making it a favorite for traders in those markets. The platform’s simplicity and low entry costs make it appealing for first-time investors.

Why It Rocks:

• $100 minimum deposit keeps it accessible.
• Diverse forex strategies to copy.
• A well-regulated platform ensures safety.

Why It’s Tricky:

• Limited options outside forex—don’t expect a wide variety.

7. Covesting (on PrimeXBT)

Copy Trading for Crypto Fanatics

Fees:

• Copy fees: Up to 20% of profits, depending on the strategy provider.
• Trading fees: Low spreads, starting at 0.05% on crypto.

Covesting is PrimeXBT’s built-in copy trading feature, catering primarily to crypto and derivatives enthusiasts. With advanced tools and access to highly volatile markets, it’s a top pick for experienced investors.

Why It Rocks:

• Perfect for crypto copy trading.
• Competitive trading fees.
• Robust risk management tools to protect your investments.

Why It’s Tricky:

• Geared more toward advanced traders.

8. AvaTrade (AvaSocial)

Stability Meets Simplicity

Fees:

• Spreads: Start at 0.9 pips (forex).
• Copy fees: No direct platform charges.

AvaTrade’s AvaSocial app is ideal for beginners who want a simple, user-friendly interface. The platform supports a broad range of assets, including forex, stocks, and crypto, and has built a solid reputation over the years.

Why It Rocks:

• Intuitive design that’s easy to navigate.
• Regulated platform with a proven track record.
• Diverse asset selection for a well-rounded portfolio.

Why It’s Tricky:

• Higher spreads on certain assets compared to competitors.

Which Platform Is Right for You?

• Looking for all-in-one solutions? eToro or AvaTrade are great picks.
• Keen on crypto and forex? Covesting, FXTM Invest, or ZuluTrade are top choices.
• Want a transparent and regulated option? Darwinex or MyDigiTrade have you covered.

Pick your platform, follow the pros, and remember—even the best traders have off days.  😉

Conclusion: Copy Trading Made Simple (and Smart)

Copy trading is a brilliant way to dip your toes into financial markets without needing a PhD in trading. Each platform listed above has its own quirks, strengths, and weaknesses, so the key is to choose one that aligns with your goals, preferences, and budget.

Tips for Choosing the Right Platform:

1. Decide which markets and assets you want to trade: forex, crypto, stocks, or commodities.
2. Compare fees and spreads—those hidden costs can add up.
3. Look into the platform’s reputation and regulatory compliance—your funds need to be safe.

No matter which platform you choose, always remember the golden rule of trading: manage your risks and only invest money you’re comfortable losing.

So, pick your platform, follow the pros, and may your trades always be in the green. Happy copy trading! 💸