Metatrader 4 Copy Trading

IC Markets – Best For ZuluTrade

IC Markets is one of the most popular MetaTrader 4 (MT4) brokers worldwide. Following an ECN pricing model, IC Markets offers an excellent trading environment with institutional grade spreads and ultra-fast execution speeds. Two trading account types are available on MetaTrader 4:

• Raw Account: Spreads from 0.0 pips and low commission fees from $3.50 per side.
• Standard Account: Commission-free trading with spreads from 1.0 pip.

As an ECN-style broker, IC Markets uses straight-through processing (STP) with no dealing desk (NDD) interference. This means that when the broker fills an order you’ve placed, it does not use its own liquidity, rather it uses various external liquidity from third-party sources. Multiple liquidity providers are utilised, ensuring you are provided with the best bid-ask prices currently available.

IC Markets NDD execution allows for:

• ECN-like spreads as low as 0.0 pips for major currency pairs like the Eurusd.
• Servers hosted by Equinix at New York’s NY4 Data Centre
• Low latency and fast execution
• Minimal slippage and no requotes

While IC Markets also offers MetaTrader 5 (MT5) and cTrader, to access ZuluTrade you are required to use MT4. There is no ZuluTrade subscription fee, with IC Markets providing the account mirroring service free of charge.

ZuluTrade is IC Markets most popular social trading tool, the broker also offers Myfxbook AutoTrade as an alternative.

Social Trading with ZuluTrade

ZuluTrade is one of the leading social-copy trading services with over 100,000 traders from 192 different countries. The platform combines copy and social trading features that help you automate trading, save time plus expand your forex knowledge.

The software’s copy trading features allow you to easily copy trading signals developed by various ZuluTraders. While ZuluTrade’s social trading features mean you can leave comments and share ideas with one another.

• ZuluTrade Signal Providers: Experienced and successful traders who receive compensation for letting others’ copy their trades.
• ZuluTrade Followers: Users who are copying the trades of signal providers.

To help you find the signal providers and manage risk, ZuluTrade provides three unique social trading tools:

1. Zulu Guard: A feature to add another level of protection to your trading account. The tool monitors the performance of the signal providers you are copying while taking steps to protect your capital when needed.
2. Zulu Rank: Ranks signal providers based on their current and past performance, stability, risk and maturity, among others.
3. Simulation: A risk management tool where you can determine future results like potential profits and losses by testing your trading strategies against real-time market conditions.

Trust and Safety

Risk management and your local financial regulation are important factors to consider when you are choosing a broker and trading platform.

IC Market’s subsidiaries are regulated by top-tier financial authorities (ASIC, CySEC and the FSA). Although financial regulation and investor protection vary between jurisdictions, traders can be assured their funds are protected through policies such as segregated client funds.

Risk management tools are essential as forex markets are known to be volatile, contributing to the high risk of losing money when trading. Whether you are trading forex or CFDs, through Expert Advisors or copy trading platforms like ZuluTrade, there are risk management tools that can be used to minimise the high risk.

When using the MT4 platform, you are provided with risk management features like alerts and notifications, as well as order types (i.e. stop loss and take profit orders).

Summary: IC Markets

IC Markets is one of the world’s most popular brokers with tight ECN-like spreads, excellent trading conditions, and helpful trading tools. To copy trade you can use ZuluTrade free of charge. The platform offers a social network along with account mirroring services, allowing you to achieve full automation when trading with IC Markets.

Markets.com – Best Broker for MetaTrader Signals

Markets.com is a multi-regulated broker that offers thousands of financial instruments and access to MetaTrader 4.

The broker follows a market maker business model with dealing desk execution, meaning all the spreads offered by Markets.com are commission-free. Compared to other brokers that charge no commission fees, Markets.com offers ultra-tight spreads, as low as 0.4 pips for the EUR/USD currency pair.

Trading Signals & MetaTrader 4 (MT4)

As a Markets.com customer using MT4, you gain access to sophisticated trading tools, including Trading Signals for copy trading.

Trading Signals is MetaTrader’s proprietary account mirroring service, meaning you do not need to leave the platform to copy trades.

The trade copier works by allowing you to copy and implement the trades of signal providers. There are many signal providers available to copy, depending on your objectives and risk profile.

In addition to copy trading, you can also use the following trading tools when using MT4 as a Markets.com client:

• Charting tools with advanced technical indicators
• Algorithmic trading with Expert Advisors (trading robots) and the MQL4 programming language
• Backtesting against historical data
• Flexible lot sizes as small as 0.01

Regulation

Markets.com is a trusted broker due to its tier-1 oversight from the following financial authorities:

• ASIC – Australian Securities and Investments Commission
• FCA – Financial Conduct Authority, United Kingdom
• FSC – British Virgin Islands Financial Services Commission
• CySEC – The Cyprus Securities and Exchange Commission
• FSCA – Financial Sector Conduct Authority of South Africa

As well as following the regulation set by the world’s most respected financial authorities, the broker is also part of the Playtech group and listed on the London Stock Exchange (FTSE 250), adding another level of transparency.

Summary: Markets.com

Markets.com offers some of the tightest commission-free spreads available along with excellent trading tools to automate trading. You can utilise MetaTrader’s proprietary account mirroring software, Trading Signals, to copy trade when using MT4. As well as automated trading tools, Markets.com is overseen by well-respected financial authorities, plus its parent company is listed on the London Stock Exchange, therefore Markets.com is seen as a trustworthy MT4 broker.

View Markest.com Review >>Visit Markets.com

FP Markets – Top Pick for Myfxbook AutoTrade

FP Markets is an ECN-style broker that offers forex traders tight spreads and access to a diverse range of financial markets.

Two different MetaTrader 4 account types are available at FP Markets. Standard account holders pay no commission fees on spreads that start from 1.0 pip. Raw account holders can trade ECN-like spreads as low as 0.0 pips while paying a $3 commission fee per side (per 100k traded).

Whether you choose FP Markets no commission or ECN type pricing structure, you can use the following features to develop trading strategies on MT4:

• Fast execution speeds with no dealing desk interference plus no requotes.
• Access to over 67 different financial markets (forex, indices, cryptos and commodities).
• Sophisticated charting tools and one-click trading.
• Algorithmic trading with Expert Advisors (trading robots)
• Demo accounts to practise trading prior to taking on the high risk associated with forex and CFDs.
• Entry to the MetaTrader Marketplace and MQL4 forex trading community.

To open an MT4 trading account, a small minimum deposit of $100 is required.

Copy Trading with Myfxbook AutoTrade

AutoTrade is Myfxbook’s account mirroring service, where you can copy trades and access an established social forex community.

When using AutoTrade, you can copy different trading systems via your MT4 account, meaning you only need one master account for MT4 and copy trading. The key reasons Myfxbook’s AutoTrade service is so popular include:

• You can add and remove trading systems at any point, giving you full control of your copy trading account.
• Incentives are only given to signal providers that are profitable.
• No software downloads are required, with no need for your own VPS.
• Only realistic statistics are shown, with no bottomless drawdowns.

Summary: FP Markets

FP Markets is a no dealing desk (NDD) broker that offers traders either a Standard Account with no commission spreads or a Raw Account with ECN-style spreads. If you want to copy trade directly from your FP Markets MT4 account, Myfxbook’s AutoTrade is a great choice. The copy trading system only provides quality signal providers, with strong track records of successful forex and CFD trading.

View FP Markets Review >>Visit FP Markets

Fusion Markets – Good Option for DupliTrade

Fusion Markets is a top Australian broker that offers access to forex, commodity, index and cryptocurrency markets via MetaTrader 4.

As a no dealing desk broker that uses straight-through processing, Fusion Markets offers two account types with different spreads and fees. The broker’s Classic Account is great for beginners as you pay no additional commission fees on top of the spread. No commission forex spreads are low, starting from 0.8 pips for major currency pairs.

If you prefer ECN-style pricing, Fusion Markets ZERO Account offers forex spreads as low as 0.0 pips. As spreads are so tight, you pay a small flat rate commission fee of AUD $2.25 per side or $4.50 round-turn.

MT4 and DupliTrade

DupliTrade is an automated trading solution where you can easily copy traders that have years of experience and successful trading histories.

Signing up to DupliTrade and linking the copy trading service to your Fusion Markets MT4 account is a simple process. Compared to other brokers that require initial deposits as high as $2000 to use DupliTrade, Fusion Markets traders need to make a minimum deposit of $1000.

Once you have registered with Fusion Markets and DupliTrade, you can fully automate trading by copying the trading strategies of various experienced traders.

When searching for trading strategy providers, DupliTrade displays various statistics to help you choose which CFD and forex traders to copy. You can view each strategy’s net profit and loss %, net profit, number of trades, win %, number of weeks and followers. You are also provided with charts to give you a visual representation of their trading history.

Summary: Fusion Markets

Fusion Markets is a top MetaTrader 4 broker that offers DupliTrade to customers. The account mirroring service is preferred by many MetaTrader users, as it can be fully integrated into MT4. When using DupliTrade with Fusion Markets, you can choose between two account types and pricing structures, either a Classic Account or ZERO Account.

View Fusion Markets Review >>Visit Fusion Markets

AvaTrade – Best for Copy Trading with MQL5

AvaTrade is a top forex broker that provides access to various trading platforms and financial markets. A low minimum deposit is required to open a trading account, making the broker accessible to all levels of trading experience.

CFD and forex traders can choose between MetaTrader 4, MetaTrader 5 and the broker’s proprietary trading platform AvaTrade. To make the most out of the MLQ5 trading signals service, MT4 is recommended.

In terms of market access, you can trade the following financial instruments with AvaTrade:

• Forex
• Commodities
• Indices
• Stocks
• ETFs
• Bonds
• Cryptocurrencies
• Fx Options

MLQ5 Trading Signals Service

AvaTrade offers MQL5 Trading Signals to MetaTrader 4 and 5 users, giving you access to one of the largest automated trading communities worldwide.

MQL5 can be fully integrated with MT4, allowing you to manually trade and copy trade from a single trading platform. To link your AvaTrade MT4 account with the trading signals service, sign up at MQL5.com or on the AvaTrade website.

Once you are set up with MQL5 and MT4, you can easily find signal providers to copy based on criteria such as past performance and risk. The MT4 signals tab lets you effortlessly find trading systems and forex signals to copy, while the community tab provides access to the large network of forex traders.

Summary: AvaTrade

AvaTrade is a great option if you want to use Trading Signals or MQL5 Signals service on MetaTrader 4. It is easy to register online, with a small minimum deposit of $100 needed to start trading.

View AvaTrade Review >>Visit AvaTrade