Copy Trading is a popular trading strategy that allows you to leverage the skills of the best forex traders. This review looks at 8 of the best copy trading platforms for Singapore traders.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
The best Copy Trading Software For Singapore Traders Is:
Overall, Pepperstone offers the best copy trading options in Singapore. Pepperstone has partnered with 3rd party online trading providers like MyFxBook AutoTrade, DupliTrade and MetaTrader signals to help beginner traders tap into trading strategies offered by successful traders. With over 11 years of experience in FX solutions, Pepperstone is one of the best brokers favoured by many traders due to the following advantages:
AutoTrade by MyFxBook is an automated trade mirroring service that allows clients to mimic other traders’ activity without paying any additional subscription fees. The signal providers are handpicked by MyFxBook, but traders have the option to filter out the single providers based on their performance, style of trading, or the number of followers.
Disclaimer: The AutoTrade system is not operated by Pepperstone, in this regard its use is regulated by the operating conditions specified on the MyFxBook website.
DupliTrade is an automated copy trading platform that enables traders to follow and copy professional traders with a verified track record. Compatible with MetaTrader 4, DupliTrade requires a minimum deposit of USD 5,000, which is the only disadvantage for small traders.
The last option forex traders in Singapore have is MetaTrader Signals. This copy trading service allows MT4 and MT5 users to automatically copy trades performed by more experienced traders. There are over 3,200 free and paid signals to choose from.
When clients use MT4 trading signals/MQL5 signals, the copied trades are executed in less than 85ms. Pepperstone has one of the best trades copying speed. The second fastest brokerage trading firm is FP Markets followed by FxPro and Oanda.
Overall, Pepperstone is considered a top-leading forex broker with a diversified selection of copy trading platforms. At Pepperstone the retail investor accounts only require a minimum deposit of USD 200 or you can give their demo account a drive test in a risk-free environment. Click the button below to claim your free demo account.
View Pepperstone Review >>Visit Pepperstone >>
The overall rating is based on review by our experts
FP Markets offers the best copy trading tools for MetaTrader 4(MT4) and MetaTrader 5 (MT5). MQL5 trading signals are the native copy trading tool of MetaTrader that integrates trading signals and social trading in MT4 and MT5. With 14 years of experience, FP Markets is at the forefront of innovation in the forex market space. FP Markets retail investor accounts come with a range of benefits including:
MQL5 signals are MetaTrader’s proprietary copy trading service for both MetaTrader 4 and MetaTrader 5. Singapore-based clients can copy up to 3,200 free and paid signal providers in real-time from one of the largest forex communities in the world.
Copy traders can be found under the “Signal Tab” in your MetaTrader 4 platform. To copy trades in MetaTrader 4 and MetaTrader 5, you need to choose a signal provider, subscribe to their signals, and automatically replicate their deals into your account.
Signal providers can be sorted by total funds following the copied traders, profit, growth, number of subscribers and their total number of funds, winning trade percentage, and drawdown.
One major benefit of the MetaTrader signal is that it gives you much more control than other copy trading services. If you want to adjust the take profit and stop-loss order or close the trade at any time you can do that with a few clicks.
FP Markets MetaTrader 4 trading platform features 12 advanced trading tools that can’t be found with the standard MT4. FP Markets’ comprehensive suite of institutional-grade trading tools includes among others:
FP Markets are among few exclusive trading brokers that are able to offer a large range of trading instruments. Besides forex trading, FP Markets also delves into derivatives trading (8 commodities, 10,000 stocks, 19 Global indices, and 5 cryptocurrencies like Bitcoin).
At FP Markets, copied trades are executed in less than 35ms, spreads are ultra-thin starting from 0.0 pips, and slippage is kept at a minimum. These are all key advantages when you try to duplicate other people’s trading activities.
Overall, FP Markets caters perfectly to the needs of the MetaTrader users. Forex traders can enjoy institutional grade trade conditions and automatically copy their favourite signal provider without leaving the MT4 platform. With this broker, minimum deposits start at SGD 200. Click the button below and claim your account today.
View FP Markets Review >>Visit FP Markets >>
eToro is the best broker for social copy trading. As a trusted global brand eToro is trusted by millions of investors due to the overall quality of its copy trading services and its easy-to-use trading platform. With eToro, traders from Singapore can take advantage of a winning combination between copy trading features and social trading.
eToro is a top copy trading broker favoured by many traders due to their following advantages:
eToro offers a user-friendly web-based trading platform that allows users to self-trade or copy trades from more experienced traders. Trading is enabled in over 2,300 CFDs across multiple asset classes. With eToro’s CopyTrader, traders have generated an average yearly profit of 83.7% in 2020 – based on the 50 most copied trades on the platform.
You can start copying other traders with 0 management fee, copy up to 100 traders simultaneously, and sort out signal providers based on different metrics like profitability, drawdown, asset under management, etc.
eToro’s platform does not only allow copy trades. The broker has taken a step further by introducing another unique feature to its clientele – CopyPortfolios, a next-gen investment product that bundles together a collection of financial assets.
Users are able to invest in Top Trader Portfolios, which are comprised of the most successful traders on eToro’s platform, or in Market Portfolios, which are comprised of CFD Stocks, ETFs or Commodities bundled together under a particular market strategy.
The aim of CopyPortfolios is to mitigate long-term risk and ensure up to double-digit returns for investors. Every portfolio will be professionally managed by eToro’s investment committee, while its performance will be analyzed regularly and rebalanced automatically so that its gain potential is maximized.
Because CopyPortfolios act like multiple traders, all working for a client at the same time, and many underlying positions are opened on his/her behalf, the minimum investment amount required is $5,000.
Overall, eToro is the perfect home for both successful traders and beginner traders who wish to copy them. Regardless of the markets you want to trade, on eToro, you can always find someone whose trades you want to copy. Claim your eToro account today with just a few simple clicks.
By selecting OctaFX’s cTrader trading software, Singapore-based clients can take advantage of the cTrader Copy functionality. Previously known as cMirror, it is a feature that allows users to copy trades and utilize a range of risk management tools. OctaFX is an ECN brokerage with 38 industry awards that serves clients in 100 countries. At present, the broker is regulated only by Cyprus-based CySEC.
OctaFX favoured for copy trading with cTrader due to their following advantages:
The cTrader Copy functionality allows traders with a reliable trading approach to become strategy providers and to generate signals for their followers in exchange for performance, management and volume fees.
Followers (investors), at the same time, are able to replicate trading strategies of a particular provider, which can be selected based on parameters such as Time Weighted ROI, Breakdown of Traded Symbols, Balance vs Equity and History of Followers.
Clients with a cTrader account can enjoy the following benefits if they choose the cTrader Copy feature.
First, Singaporean clients can access real-time quotes and low spreads (starting from 0.8 pips) offered on 28 currency pairs and 2 Spot Metals. OctaFX will charge a competitive commission of $3.0 per side per Standard Lot traded.
Second, the broker’s cTrader platform grants access to Level II Pricing, or clients will be able to view the liquidity of all trading instruments offered.
Third, the trading platform comes equipped with advanced customization options (with traders being able to save up to 50 chart templates) as well as advanced analytical tools (9 chart types, 28 timeframes, 70 pre-installed technical indicators), allowing for superior technical trading capabilities.
OctaFX ensures no dealing desk execution with no delays, which suits automated trading perfectly. Clients will be able to use advanced Take Profit and Stop Loss orders as well as two types of Stop-Out options (smart stop-out and fair stop-out) to protect their margins.
Lastly, Singapore-based clients will not have to repay a negative balance with this broker. Some other benefits, which OctaFX’s cTrader software provides, include:
Overall, OctaFX is a good option for cTrader Copy but traders need to keep in mind that this broker is only regulated in one tier-2 jurisdiction (CySEC). If you decide to go with this broker, OctaFX will not charge any fees on deposits and withdrawals, or any swap rates.
Visit OctaFx >>
AvaTrade is an award-winning online broker that offers DupliTrade – a user-friendly social trading platform that ensures effortless automated trading. AvaTrade, one of the top Forex brokers with operations on six continents and regulated by eight industry regulators (including ASIC, CySEC and FSCA), is another good choice for Singapore-based clients when it comes to social and copy trading.
AvaTrade favoured for copy trading with DupliTrade due to their following advantages:
DupliTrade is a great choice for both novice Forex traders and those who cannot afford to constantly track financial markets to automate their trading directly into their AvaTrade account based on signals from successful traders.
By ensuring a minimum deposit of $2,000, Singapore-based traders can take advantage of DupliTrade’s portfolio of top strategy providers and replicate their activity directly into a MetaTrader 4 or a MetaTrader 5 trading account opened with AvaTrade.
By selecting a social trading platform such as DupliTrade, Singaporean clients can rest assured they are looking at the profiles and choose to copy audited professional traders only. The platform will visualize only a list of strategy providers with years of proven track record who trade with real money.
Yet, choosing from a list of the best traders is only the first step towards profitable copy trading. Clients also need to continually monitor the selected traders’ progress to make sure their copy trading continues to generate gains.
We should also point out the huge diversity of tradable asset classes that an online broker such as AvaTrade offers. Besides Foreign Exchange, clients can access a plethora of CFDs on Stocks, Stock Indices, Cryptocurrencies such as Bitcoin, Commodities, ETFs, Forex Options and Bonds. This way, they will be able to diversify their portfolio of trading strategies copied.
At the same time, Singaporean clients can also have peace of mind that they will be placing their funds with a reputable global brokerage such as AvaTrade, which has ensured client fund segregation. In addition, clients can copy trade by taking advantage of AvaTrade’s risk management tools such as negative balance protection. Under such a policy, Singaporean retail investor accounts cannot lose greater amounts than the initial deposit as a result of trading CFDs.
Last but not least, although copy trading is an automated process, Singapore-based clients can always contact AvaTrade’s professional customer support team if they require any assistance.
Signing up with DupliTrade is a rather straightforward process of several steps.
Overall, AvaTrade offers a good all-around trading experience. Due to the relentless dynamics of the Forex market, the results of individual traders are very likely to change. Thus, clients may need to discontinue copying certain traders, whose progress has stalled, and make another selection (of traders with improving performance).
View AvaTrade Review >>Visit AvaTrade >>
Owned and operated by Myfxbook, AutoTrade is currently among the best copy trading platforms available to Singapore-based traders. AutoTrade application is a community of professional traders that promotes transparency, collaboration between users, and sharing of trading ideas.
Myfxbook’s AutoTrade solution makes it possible for traders to connect with other users and replicate a variety of trading systems directly into their MetaTrader 4 account. All they need to ensure is to connect their live MT4 trading account to Myfxbook’s application, after which they can take advantage of CFD and Forex copy trades.
Duplicating the trading activity of other users with Myfxbook’s AutoTrade is a fully automated process, while the application also allows for flexibility and full control since traders will be able to add and remove trading systems from their account whenever they wish.
An important moment to note is that the AutoTrade application will always display real-time CFD trading strategies (traded with real money only) and accurate statistics (no bottomless drawdowns that can mislead traders). In other words, the trading platform will never list trading strategies used on a demo account.
Myfxbook’s AutoTrade solution allows traders to organize and track all of their trading systems added in a single centralized portfolio.
Another advantage includes the opportunity for traders to diversify the high risk associated with derivatives such as CFDs, as they will have access to a plethora of trading systems (based on different technical analysis approaches and timeframes) as well as asset classes (Cryptocurrency, Commodity or Stock Index CFDs, ETFs, Foreign Exchange).
Also, the application allows CFD and Forex traders to verify trading results. Or, they will be able to request an audit before allocating funds to a particular trading strategy provider or replicating a system.
Meanwhile, strategy providers will be able to monitor and track their trading performance without effort. The AutoTrade application will automatically upload their trading history from MetaTrader 4 and analyze in detail their performance free-of-charge with the help of innovative statistical analysis tools.
In order for a particular trading strategy to be listed on Myfxbook, the respective provider needs to meet the following criteria:
In general, Autotrade is good for both professional traders who get paid for their winning trades and beginners who have a great choice of CFD brokers to choose from. This automated trading platform works smoothly with brokers like Pepperstone, IC Markets, FP Markets or Fusion Markets.
Visit Myfxbook >>
MetaTrader 4 (MT4) is the most popular online trading platform in Singapore. MetaTrader 4 has an easy to use interface, countless indicators, add-on tools, Expert Advisors (EAs), 9 timeframes, 23 analytical objects and so much more. Check out HERE what is the best broker for MetaTrader 4.
Pepperstone’s Razor Account is the best option for forex traders in Singapore. The Razor account offer ECN trading conditions with spreads starting from 0.0 pips, a low commission of USD 3.5 per side, 3 powerful trading platforms (MT$, MT5, cTrader) and a low minimum deposit of USD 200.
There are some key selection criteria to consider when choosing a copy trading platform. Most of the top forex brokers offer copy trading services to their clients. However, not all social trading platforms offer the same features, trading tools, or access to the same range of financial markets.
A copy trading platform allows forex traders to copy trades of more experienced traders in real-time. The power of technology enables traders in Singapore to accomplish that automatically with a few clicks.
Before choosing an online broker with a social trading platform, there are key points to consider:
Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.