Forex Copy Trading Software

Here are the forex brokers with the best copy trading platforms:

Broker Our Rating Regulation Standard
EUR/USD
Spread
Standard
GBP/USD
Spread
Standard
AUD/USD
Spread
Raw
EUR/USD
Spread
Raw
GBP/USD
Spread
Raw
AUD/USD
Spread
Commissions
(USD Base)
MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage Read Full Review
98 SCB, ASIC
FCA, CySEC
1.10 1.40 1.20 0.10 0.40 0.20 $3.50 77ms $0 62+ 12+ 30:1 500:1 Visit Site
43 ASIC, CySEC, MFSA
FCA, FSA, FINRA
GFSC
1.0 2.0 1.0 - - - - 130ms $200 (Australia), $50-$100 (EU) 49+ 46+ 30:1 400:1 Visit Site
64 ASIC, FSCA
CBI, KNF, CIRO
ADGM, FSC-BVI
- - - - - - - 160ms $100 55+ 15+ 30:1 400:1 Visit Site
64 FCA, CYSEC, DFSA, FSA-S, Labuan FSA, FSCA 1.6 1.6 1.6 0.1 0.3 0.1 $2.00 125ms $100 60+ - 30:1 500:1 Visit Site
85 ASIC, FSA-S
CySEC
0.62 0.83 0.77 0.02 0.23 0.17 $3.50 134ms $0 61+ 18+ 30:1 500:1 Visit Site
82 ASIC, VFSA, FSA-S 0.93 1.08 0.92 0.13 0.21 0.12 $2.25 79ms $0 90+ 10+ 500:1 500:1 Visit Site
72 FMA, FSA 1.20 1.4 1.7 0.23 0.72 0.65 $3.00 72ms $0 64+ 11+ 500:1 500:1 Visit Site
 

Which Is The Best Forex Copy Trading Software In UAE?

The best forex copy trading software in UAE is eToro’s copy trader because it provides an all-in-one approach to copy trading, being both the platform and broker. Below are the key features that I think make it the best:

1. Pepperstone Best Range Of Copy Tools Overall

Pepperstone

Forex Panel Score

98

Average Spread

EUR/USD = 0.1
GBP/USD = 0.4
AUD/USD = 0.2

Trading Platforms

MT4, MT5, cTrader,
TradingView, Capitalise.ai

Minimum Deposit

$0

Why We Recommend Pepperstone

We liked what Pepperstone offers for traders with a range of copy trading tools, such as MetaTrader Signals, DupliTrade, Pelican, and MyFxBook AutoTrade, tailored to your location. This allows you to mirror seasoned traders’ strategies and boost your returns. A free demo account is also available, letting you test-drive the right account type and copy trading program for your forex trading needs.

Pros & Cons

  • Ultra-tight spreads
  • Fast execution speeds
  • Diverse copy trading options
  • No guaranteed stop loss order is available
  • Can only copy trade via MT4
  • Education resources need updating

Broker Details

BEST RANGE OF MIRROR TRADING PLATFORMS

Pepperstone offers several top-notch third-party copy trading platforms including MetaTrader Signals, Duplitrade, Pelican (UK-only) and Myfxbook.

We like and have tested DupliTrade and Myfxbook, with our results highlighted below:

  • DUPLITRADE: Integrable into your MT4 platform and account, DupliTrade is user-friendly and, consequently, a very popular choice, worldwide (with over 300,000 users). Although the trade copier service only accepts experienced and successful traders as signal providers, we liked that you can still access signal providers’ records and trading history to ensure they align with your goals and risk tolerance.
  • MYFXBOOK: Myfxbook is an automated trading system where you can copy the forex trades of successful traders, handpicked for their skill and experience. We like that you can explore signal providers through different filters, including average or lifetime gains, trading styles and the number of overall subscribers. You are provided detailed and sophisticated statistics when comparing forex trades to copy, giving you control of your trading account while automating trading.

COMPETITIVE COMMISSION-FREE FOREX TRADING

The broker’s standard account is ideal for beginner traders who are starting copy trading to gain confidence and experience trading, as you pay no commission fees on top of the spread. From our testing, Pepperstone averages 1.12 pips for EUR/USD, with only XTB and eToro averaging lower spreads at 0.9 and 1 pips respectively.

Standard Accounts Spreads
1.10 1.20 1.40 2.00 1.50
1.13 1.01 1.71 2.27 1.98
0.90 1.30 1.40 1.40 1.80
1.20 0.90 1.50 2.20 1.70
1.20 1.30 1.20 1.20 1.30
1.70 1.60 1.70 2.50 2.70
1.20 1.80 1.90 2.30 2.30
1.30 1.70 2.10 1.70 2.10
1.32 1.95 1.37 1.87 1.73

Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024

FAST EXECUTION SPEEDS

From our testing of MT4 EAs, Pepperstone has some of the fastest execution speeds of any broker. Pepperstone achieved speeds of 77ms and 100ms for limit and market orders respectively, putting it as the 3rd fastest broker overall and fastest in the UAE.

Broker Overall Limit Order Speed Limit Order Rank Market Order Speed Market Order Rank
Pepperstone 3 77 2 100 5
Axi 8 90 4 164 16
FxPro 12 151 16 138 9
Admiral Markets 15 132 9 182 18
IG Group 17 174 19 141 11
XM 19 148 14 184 19
ThinkMarkets 20 161 18 248 20

pepperstone account types brief uae

View Pepperstone ReviewVisit Pepperstone

2. eToro Best Trading Platform for Social And Copy Trading

eToro

Forex Panel Score

43

Average Spread

EUR/USD = 1.0
GBP/USD = 2.0
AUD/USD = 1.0

Trading Platforms

eToro Trading Platform

Minimum Deposit

$50

Why We Recommend eToro

We found eToro top-notch in social and copy trading, especially in the forex arena. The platform hosts a thriving trading community, making it a magnet for thousands of users keen to engage in CFD and physical asset trading. What sets it apart is the feature that allows you to mimic the strategies of successful traders, termed ‘popular investors’, effectively adding another layer to your trading game. The breadth of financial instruments available also means you’re not restricted; you can diversify your strategies and even look into long-term portfolio investments.

Pros & Cons

  • Robust CopyTrading feature
  • Extensive educational resources
  • Diverse asset options
  • Spreads can be high
  • Fees on withdrawing
  • No support for third-party platforms

Broker Details

BEST SOCIAL TRADING PLATFORMS

As a social trading specialist with a focus on copy trading, eToro offers the best social and copy trading platforms on the market:
best social copy trading awards 2024

  • COPYTRADER: CopyTrader is the brokerage’s key account mirroring service and most popular feature. It allowed us to effortlessly mirror seasoned traders’ trading strategies, while we could search for ‘Popular Investors’, which we thought was a nice touch.
  • COPYPORTFOLIOS: After you invest in a CopyPortfolio, eToro manages your capital with assets re-picked and portfolios rebalanced as needed. Offering two types of portfolios, Top Trader Portfolios and Market Portfolios, we liked Market Portfolios’ unique approach to choosing a single market strategy on a bundle of commodities, ETFs and share CFDs. Overall, we found CopyPortfolios is a good approach to diversifying and minimising risk or a way to supplement forex copy trading with a long-term investment.

Beyond the copy trading aspect, we found value in eToro’s social network, where we could engage with other traders, comment on posts, follow our peers, and keep ourselves updated through the platform’s newsfeed.

COMPETITIVE SPREADS FOR COPY TRADING

Averaging 1.30 pips across the 5 major currency pairs, eToro’s commission-free spreads will keep trading costs low if you are a beginner copy trader. From our analysis, this puts eToro as one of the most competitive market makers out there, and the lowest spreads on this list. Only IC Markets and Fusion Markets can offer lower spreads, although both provide ECN-like trading.

3. AvaTrade Broker With MQL5 Signals For MT4 And MT5

AvaTrade

Forex Panel Score

64

Average Spread

EUR/USD = 0.9
GBP/USD = 1.5
AUD/USD = 1.1

Trading Platforms

MT4, MT5, AvaTradeGo, AvaOptions

Minimum Deposit

$100

Why We Recommend AvaTrade

We appreciated AvaTrade’s versatility in the FX and CFD trading landscape. This broker pulls no punches when it comes to offering a broad array of financial instruments, from FX and commodities to cryptocurrencies and equities. One of the standout features is the support for MQL5 Signals within both the MetaTrader 4 and MetaTrader 5 platforms. This opens up the avenue for traders to seamlessly automate their strategies.

Pros & Cons

  • Multiple platform options
  • Access to MQL5 Signals
  • Fixed spread trading accounts
  • Limited copy strategies
  • Proprietary platform limits
  • Charges inactivity fees

Broker Details

AVATRADE OFFERS MQL5 SIGNALS WHICH MAKES COPY TRADING SIMPLE

AvaTrade gives you complimentary access to MQL5 Signals, which can be fully integrated with both MetaTrader platforms, MT4 and MT5, a fact we found extremely convenient.

MQL5 Signals happens to be one of the largest automated trading communities globally, offering a plethora of strategies to copy once you’re in.

Once you open an MQL5 account, we recommend filtering by your broker (AvaTrade), MT4 and only show providers with reviews. When we tested this, we were able to easily narrow our search to highly rated providers with a strong performance history that matched our copy trading needs.

PROPRIETARY AVASOCIAL PLATFORM

When testing AvaTrade’s proprietary social trading platform, AvaSocial, we liked that you can see real time news feeds for the trades your friends and other traders in the community action. We also like that you can follow, chat with and share trading ideas as this allows us to leverage the knowledge of other better traders.

STABLE SPREADS FOR COPY TRADING

We found AvaTrade had stable and consistent spreads which suited us when copytrading. Based on our testing, AvaTrade averaged tight spreads of 0.9 pips for EUR/USD, which remained consistent throughout our trading session.

As a fixed spread broker, we found AvaTrade’s consistent spreads meant there was a level of predictability and stable market conditions that is essential to the set-and-forget nature of copytrading. It’s important to note, however, that despite being fixed, AvaTrade’s spreads can still vary during morning, day and night sessions.

Fixed Account Spreads
0.90 1.10 1.50 1.50 1.00
0.70 1.20 1.50 1.30 1.00
1.94 2.36 2.11 2.05 1.83
1.60 1.90 1.70 2.10 1.60
3.00 3.00 3.00 3.00 3.00

Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024

4. Tickmill Top ZuluTrade Broker

Tickmill

Forex Panel Score

64

Average Spread

EUR/USD = 0.1
GBP/USD = 0.3
AUD/USD = 0.1

Trading Platforms

MT4, MT5, CQG

Minimum Deposit

$100

Why We Recommend Tickmill

Broker Details

GOOD ZULUTRADE TRADING EXPERIENCE

Providing access to ZuluTrade, one of the world’s biggest third-party social trading platforms, Tickmill stands out in a few ways from our testing of the platform.

For one, ZuluTrade facilitates direct copy trading, which means signal providers and signal followers can match each other. We liked the advanced search filters as signal followers, which helped us easily discover the best strategies to match our trading needs.

Secondly, we particularly liked the specific parameters such as maximum dropdown, maximum returns and average duration, that we could navigate the database to easily narrow down our search for a signal provider.

LOW COMMISSION FEES

Offering low commission fees on its Pro account, Tickmill will help keep your trading costs low as a forex trader who copy trades. The US$2 commission (per side) to open your copy trading position is the lowest we’ve seen in the industry.

Even Fusion Markets, another low-commission broker, offers slightly higher costs at US$2.25 per side, putting Tickmill at the top of the list.

Broker USD
Tickmill $2.00
Fusion Markets $2.25
Blackbull Markets $3.00
FP Markets $3.00
Pepperstone $3.50
IC Markets $3.50

5. IC Markets Has TradeCopier MT5

IC Markets

Forex Panel Score

85

Average Spread

EUR/USD = 0.62
GBP/USD = 0.83
AUD/USD = 0.77

Trading Platforms

MT4, MT5, cTrader

Minimum Deposit

$200

Why We Recommend IC Markets

We found IC Markets to be the go-to broker for anyone keen on using ZuluTrade for forex trading. First, the platform options are top-tier, providing traders with low spreads and excellent market access, essentials for anyone serious about trading. The broker’s reputation is solidified by its regulation from major financial bodies such as ASIC, FCA, and CySEC, lending an added layer of credibility and trustworthiness. Combining these features makes IC Markets a reliable choice and an exceptional one for those specifically interested in ZuluTrade.

Pros & Cons

  • Ultra-low spreads offered
  • Multiple trading platforms
  • Robust copy trading options
  • $200 minimum deposit
  • MT5 for stocks only
  • No TradingView platform

Broker Details

CONNECT WITH TRADE COPIER ON MT5

IC Markets offers a unique copy trading option: Trade Copier on the MT5 trading platform, which duplicates trades between two (or more) copies of MT5 running on the same computer.

While this is suited for more experienced copy traders, with a complicated set-up involving running sender and receiver programs, we like that your trades in one copy of MT5 are replicated almost instantly in the other copy of MT5, streamlining your trading.

The trade copier also duplicates both manual and automated trading, giving flexibility in your copy trading.
Should Trade Copier be too complicated for you, IC Markets offers a diverse range of copy trading options including cTrader Copy, Myfxbook and Duplitrade.

LOWEST AVERAGE SPREADS

Whether you use IC Markets’ Standard or RAW Spread account to copy trade, the broker offers the lowest overall spreads of any broker we’ve tested.

For its Standard account, we averaged spreads of 1.03 pips for the major currency pairs and for the broker’s RAW Spread account, we averaged spreads of 0.32 pips. This placed IC Markets at number 1 overall for Standard account types and number 3 for RAW Spread/ECN accounts.

Only Fusion Markets could boast tighter average spreads on this list of 0.22 pips for its RAW account.

RAW Account Spread Comparison
0.10 0.20 0.60 0.40 1.00
0.02 0.17 0.50 0.27 0.30
0.02 0.05 0.36 0.19 0.23
0.10 0.10 0.90 0.40 0.50
0.23 0.65 1.00 0.90 0.90
0.10 0.20 0.50 0.30 0.50

Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024

6. Fusion Markets Top Broker With DupliTrade

Fusion Markets

Forex Panel Score

82

Average Spread

EUR/USD = 0.93
GBP/USD = 1.08
AUD/USD = 0.92

Trading Platforms

MT4, MT5, cTrader

Minimum Deposit

$0

Why We Recommend Fusion Markets

We found Fusion Markets to be a standout broker for those keen on utilising DupliTrade for their forex endeavours. One of its key strengths is the seamless integration of DupliTrade within the MetaTrader 4 platform, letting you manually trade and copy trade all in one spot. With two account types to choose from, Fusion Markets offers flexibility in gaining access to its account mirroring services. It’s one of only nine main brokers featuring DupliTrade, placing it on par with big names like Pepperstone.

Pros & Cons

  • Low forex spreads
  • Rigorous provider vetting
  • Multiple copy options
  • High bank wire deposit fees
  • Limited strategy selection
  • Range of products is limited

Broker Details

TOP QUALITY SIGNAL PROVIDERS WITH DUPLITRADE

Fusion Markets’ offering of DupliTrade, integrated into the MetaTrader 4 platform, is our favourite trading experience of the popular third-party copy trading platform.

When testing DupliTrade, what stood out for us was the rigorous qualification process signal providers need to pass for them to be accepted. We noticed this resulted in a higher overall quality of signals for us to copy and gave us confidence in who we copy.

Beyond DupliTrade, Fusion Markets also throws Myfxbook AutoTrade into the mix, which is another copy trading option.

LOW TRADING COSTS FOR COPY TRADING

Fusion Markets offers some of the lowest trading costs of any copy trading broker that we’ve tested.

We found that the broker combines both low spreads and low commissions. For its Standard account, Fusion Markets averages 1.19 pips for the major currency pairs (placing it 3rd overall in our tests) while the broker averages 0.22 pips for its RAW account, placing it 1st overall.

Further lowering its trading costs, Fusion Markets charges low commissions of $2.25 per side, placing it second behind Tickmill overall.

7. BlackBull Markets Great Myfxbook Broker

BlackBull Markets

Forex Panel Score

72

Average Spread

EUR/USD = 0.23
GBP/USD = 0.72
AUD/USD = 0.65

Trading Platforms

MT4, MT5, cTrader, TradingView, BlackBull Social, BlackBull Shares, BlakcBull Trade

Minimum Deposit

$0

Why We Recommend BlackBull Markets

Broker Details

GREAT MYFXBOOK BROKER

While BlackBull Markets supports multiple third-party copy trading platforms, such as ZuluTrade and Duplitrade, it is its integration with Myfxbook that stands out to us.

Myfxbook gives you the ability to not only track all of your trading systems in a private portfolio but your account is analysed automatically, doing all the hard work for you to quickly improve your copy trading strategy.

We particularly liked that once a week we were able to review our trading account in detail and question where things had gone wrong or highlight what worked well so we could focus on those key lessons.

BlackBull Markets even has its own copy trading platform, BlackBull CopyTrader, in addition to its other proprietary platforms.

FASTEST EXECUTION SPEEDS FOR COPY TRADING

When we tested execution speeds using MT4 on a demo account, BlackBull Markets had the fastest execution speeds overall.

For limit orders, BlackBull Markets achieved an execution speed of 72 ms while for market orders it had an execution speed of 90 ms. Only Fusion Markets had a faster execution speed for market orders at 77 ms.

Having a fast execution speed is great for copy trading to reduce slippage especially when you are essentially utilising a form of automatic trading, without much manual interference.

Market Order and Limit order Average Execution Speed