Copy trading allows you to copy positions taken by other traders. Choosing the right trader is critical as your success relies on choosing successful signal providers and to do this means using copy trading software that can help you find these traders.
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We list the brokers that offer the best copy trading options
Pepperstone is considered to offer the best copy trading software for UK traders and is the world-leading MetaTrader 4 broker. At Pepperstone, copy trading is available through MetaTrader 4 Signals and DupliTrade. The social trading features allow users to find and copy more experienced traders.
With over a decade of business history, Australia-based Pepperstone is a leading multi-regulated CFD and Forex provider with multiple awards. It is authorized to offer online trading services by some of the most reputable Forex regulators, including:
Based on our review, Pepperstone turns out to be the most appropriate choice for UK-based clients when it comes to using a Forex copy trading platform.
UK-based Forex traders with little experience have the opportunity to access a variety of trading strategies from some of the most successful traders worldwide by using Pepperstone’s copy trading solutions, including:
This third-party copy trading platform ensures access to trading signals that are provided by experienced traders. In other words, it offers beginners the opportunity to access the Forex trading expertise and proven trading techniques of professionals. Clients can start trading automatically based on signals that come from top strategy providers directly into their own MetaTrader 4 trading account.
The top-performing strategies have generated over 500% return. At the same time, DupliTrade strategy providers provide different trading styles and methods (swing trading, trend following, breakout, price action, etc.).
MetaTrader 4 Signals is a useful tool, allowing real-time access to thousands of trading strategies and signals. What is even more, it allows beginners to take emotions such as greed or fear out of their trading and offers a set of benefits.
Yet, we should note that acting on trading signals is associated with a certain level of risk because signal providers’ past performance is not indicative of future results. In addition, Pepperstone has no control over signals that come through its third-party social trading platforms. Therefore, signals should not be considered as any form of investment advice.
First of all, the brokerage offers its clients quality order execution (trade orders by UK clients are filled in less than 30 ms) with no dealing desk intervention and no re-quotes not only on its MetaTrader 4 software but on all of its trading platforms, including MetaTrader 5 and cTrader.
Second, the Forex broker has ensured raw pricing due to its deep and diverse liquidity mix. Or, UK-based clients can access razor-thin spreads from 0.0 pips across Pepperstone’s entire Forex and CFD product list (currently more than 180 financial instruments) and take advantage of competitive commissions on its Razor trading account.
Pepperstone’s MT4 offers a variety of chart setups, flexible order types, and outstanding support from expert advisors. The brokerage will not charge any deposit or withdrawal fees for all funding options and it supports 10 base currencies, including AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD and HKD.
More, Pepperstone has received multiple industry awards, including for its professional 24/5 trading support service. The Forex broker has provided a plethora of trading guides, trading tools and tutorials and conducts Forex trading webinars on a regular basis.
When it comes to copy trading solutions, Pepperstone has won the race hands down. Retail traders can access low spreads starting from 0.0 pips on over 180 instruments and fast order execution speed of 30 ms. And finally, let us not forget the 30-day free demo account available for clients. Equipped with $50,000 in virtual funds, it allows for risk-free access to real-time trading conditions – suitable for testing various trading strategies as well as copy trading.
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eToro is among the well-recognized, multi-regulated online brokers worldwide and one of the first brokerages to innovate the social trading space. By choosing eToro, UK-based clients choose not just a social trading platform, but an opportunity to join one of the largest trading communities globally, where traders and investors with experience can exchange expertise and trading ideas while people completely new to financial markets are able to constantly enrich their knowledge.
As an online trading broker, eToro is authorized and regulated by the Financial Conduct Authority (FCA).
To be successful in trading the financial markets requires a lot of effort and time invested in constant research and testing of various trading techniques. This may be beyond the ability of those who have their daily schedules full. At the same time, it may be quite difficult for people with little or no trading experience to only survive their first month in the markets.
Fortunately, eToro has a solution for both groups – the CopyTrader feature. With it, eToro clients are able to observe unobstructed what other users are doing in real-time and automatically duplicate their trading activity into their own account. What is more, they will not have to pay the broker any additional management fees or other hidden costs for using CopyTrader.
eToro fees only include the standard bid-ask spread (see table below).
By selecting and copying top-performing traders on eToro’s social trading network, beginners are able to earn a passive income. By selecting one trader or maintaining a portfolio of traders, beginners will also have the chance to access a variety of financial instruments, including currency pairs, Stock CFDs, Commodity CFDs, ETFs, cryptocurrencies and so on, as well as various trading styles, including scalping, swing trading etc.
CopyTrader allows every client to browse eToro’s vast user base and detect the top traders by using specific criteria – 12-month return, number of copiers, risk score, assets under management and so on.
Once they locate and select a top-performing trader, clients will have to allocate part of their account balance to that trader in order to begin copying his/her positions. Generally, eToro requires a minimum deposit of $200 to open a live trading account, but the broker has temporarily introduced some changes – the minimum amount that clients need to allocate to another user is currently $500. Once the particular amount has been allocated, clients can begin replicating the trader’s activity automatically in real-time and in direct proportion.
UK-based clients will have to satisfy another eToro requirement – there is a minimum amount for every copied position. Generally, the value of every copied trade has to be at least $1, but the brokerage has temporarily changed that amount to $2.
Meanwhile, traders who have a solid, proven approach to markets and who are willing to earn a second income, can join the broker’s Popular Investor program. To do so, they need to satisfy several specific requirements:
The Popular Investor program is structured in 4 different tiers – Cadet, Champion, Elite and Elite Pro, each having requirements and offering certain benefits.
Note that in order to be paid a monthly income, traders need to obtain the rank of Champion. The minimum equity and minimum assets under management requirements for each tier are presented below.
Overall, the eToro social trading platform is well-tailored for beginner traders. The CopyTrader platform is remarkably easy to use, the education offerings are top-notch and the social network accommodates millions of traders. In 2020, the average yearly profit was 83.7% based on the top 50 most copied traders. Click the button below to discover more about this copy trading platform.
IC Markets earned our top spot for the best forex broker featuring the cTrader Copy trading platform. Australia-based IC Markets is among the largest Forex providers by Forex volume worldwide with nearly 15 years of business history. While the broker doesn’t hold an FCA license, UK clients are served through the CySEC – regulated entity.
Additionally, the broker’s international operations are managed by an entity under the regulation of the Australian Securities and Investments Commission (ASIC).
By selecting IC Markets’ cTrader trading software, UK-based clients can take advantage of the cTrader Copy functionality. It is a mirror trading feature previously known as cMirror, which allows users to copy trades and utilize an array of risk management tools.
The cTrader Copy feature enables people with a proven trading system to become strategy providers and to broadcast signals to their followers in exchange for a set of fees (performance, management and volume fees). Meanwhile, followers, or investors, are able to detect and copy a trading strategy with no long-term commitment. Investors can select a strategy provider by accessing detailed strategy profiles and take into consideration parameters such as:
The cTrader Copy functionality offers benefits for every client with a cTrader account.
First, the cTrader software delivers speed and advanced analytics coupled with the deep interbank liquidity of IC Markets. UK-based clients can access real-time quotes and the lowest possible spreads (starting from 0.0 pips) offered on 64 currency pairs and 16 Stock Index CFDs. The average spread on EUR/USD remains 0.1 pips 24/5, while the brokerage will charge a competitive commission of $6.0 per round turn per Standard Lot.
Second, the cTrader platform grants access to Level II Pricing, or clients will be able to view all executable prices derived directly from IC Markets’ top-tier liquidity providers.
Third, the trading platform ensures low latency and ultra-fast order execution, since the broker’s cTrader server is located in the LD5 IBX Equinix Data Centre in London. The server has less than 1ms latency to VPS providers. This can benefit high-frequency traders and scalpers particularly.
Other advantages of the IC Markets cTrader platform include:
Overall IC Markets is branded as a top cTrader broker. The cTrader Copy trading features advanced analytical tools that can enhance your trading experience. You can copy your favourite strategy or trader with a couple of clicks. If you’re new to cTrader, you can open a free demo account by clicking the button below.
AvaTrade aims to help investors carry out copy trading via 3 powerful copy platforms including DupliTrade, ZuluTrade and AvaSocial. Founded in 2007, AvaTrade is an online trading broker not regulated by the FCA, but instead, it holds a license from the Central Bank of Ireland (CBI) and other 7 licenses across the globe.
With DupliTrade, copy trading becomes a rather straightforward process for both novice traders and those who cannot afford to be in front of their monitor all the time. By depositing as little as $2,000, UK-based clients will be granted access to a portfolio of the best strategy providers and will be able to automatically duplicate their trading activity directly into their own MT4 and MetaTrader 5 trading account with the broker.
To sign up for DupliTrade’s automated trading service, UK clients need to:
After that, clients will be able to freely track and analyze their trading account in real-time.
We should note that all strategy providers on the DupliTrade platform are audited and vetted and have formidable trading experience. Therefore, AvaTrade clients can rest assured they will be risking real money by following only professionals.
AvaTrade’s app, AvaSocial, can be a good choice for traders of different skill level and knowledge. Novice traders can shorten the learning process by obtaining direct insight from experts. The AvaSocial app is the product of a tie-up between AvaTrade and FCA-regulated Pelican Exchange Limited.
The app allows UK clients to get in touch with top traders and qualified mentors to conduct one-on-one or group discussions about particular markets or trading-related topics as well as to simply replicate their trading activity in a matter of seconds. In addition, UK clients will be able to receive real-time updates about the activity of their contacts and top traders on their newsfeed and do a range of social activities – commenting on, sharing or liking a particular trade as well as celebrating the success of their own trades across various social media.
Clients will also be able to receive special awards (digital trophies) for their everyday trades and showcase them to members of their trading community.
AvaTrade has ensured an effortless registration process for the AvaSocial mobile app, which takes several minutes to complete.
Launched in 2007, ZuluTrade is a cutting-edge copy trading platform, which connects directly to MetaTrader 4 and MetaTrader 5 through an API. By ensuring a minimum deposit of $500, clients of AvaTrade can access ZuluTrade’s enormous trading community and get fresh ideas, potentially follow over 10,000 signal providers, build scripts for trading bots, or protect their trading account against inconsistent trades.
Let’s take a look at some of the benefits, which ZuluTrade’s automated trading service offers.
Overall, AvaTrade made it into our best copy trading software for the UK trader list due to its multiple options for copy trading. You can trade with confidence on over 1250 financial instruments across 7 different asset classes with competitive spreads. For more information, click the button below and see our full AvaTrade review.
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Founded in 2011, FXTM is an award-winning CFD and Forex trading service provider, authorized and regulated by the FCA and ESMA compliant. On the social trading front, FXTM offers its clientele an innovative solution. Novice traders from the UK and those who lack the time to strictly follow market developments have the opportunity to join FXTM Invest, a user-friendly program by ForexTime that allows them to follow and automatically copy the trading pattern of professionals.
There are two types of users involved in the program:
After opening an account with FXTM, investors are able to search through a list of successful traders, review their profiles and choose a professional whom to follow and copy. Once a strategy manager is selected, investors can allocate funds to him/her.
The min deposit required for the program is USD 100 or EUR 100 or GBP 100. Every strategy manager will ask for a particular “copy fee”, usually a percentage of profits earned, while investors can withdraw profits from the copy trades at any time.
First of all, investors are able to access trading opportunities without the need to have profound technical expertise. Second, they are able to reduce their risk exposure by using FXTM’s advanced tools.
Investors can select a strategy manager whose risk-reward profile best suits their own objectives and needs. You can access your funds at any time and receive real-time notifications, per hour, to keep tabs on their investment.
As for strategy managers, first, they are able to set their own risk-reward parameters and their own preferred fee for the strategy they provide. FXTM will not charge them a commission. Second, strategy managers will not have to re-adjust a trading position for every new investor.
Third, they will be able to own and maintain a dedicated page for their account, via which investors can connect to them. Last but not least, strategy managers will be able to monitor their performance in real-time by using FXTM’s reporting tools.
Overall, FXTM offers traders the option to choose to copy more experienced traders or to become a strategy manager if you already have a profitable strategy. At the end of the day, FXTM is a strong choice for traders who want to try something new in the social network space.
View FXTM Review >>Visit FXTM >>
ZuluTrade is a leading social trading platform operated by Triple A Experts SA, a company regulated in the EEA by Greece’s Hellenic Capital Market Commission (HCMC). The trading service is also licensed in the United States and Japan.
Unlike other copy trading platforms, ZuluTrade cannot function independently. It has to be linked with a CFD and Forex brokerage so that clients of that brokerage can access the copy trading service. That is the reason why the minimum deposit required and the available CFD products will be in accordance with the broker’s offerings.
Among the best brokers supported by ZuluTrade these names offer the most diverse list of CFDs:
Similar to most copy trading platforms, there are two types of ZuluTrade users – signal providers and followers. Investors (followers) can select a signal provider based on his/her ZuluRank, which factors in ROI, trading volume, AUM, drawdown, duration of active trades among other parameters.
There are certain requirements that a user has to meet to qualify for a signal provider status:
To start copy trading, users need to sign up for a ZuluTrade account and after that choose a CFD and Forex broker with which to trade.
Beginners may choose to open a Profit Sharing account, which does not include additional trading commissions for copy trading. Users will only pay a monthly subscription fee of $30 and share 25% of their earnings.
Meanwhile, experienced traders may choose to open a Classic account, which charges volume-based commissions.
There is also a free demo account available with no time limitations.
With ZuluTrade, users can copy trades across a variety of asset classes – currency pairs, Shares CFDs, Commodity CFDs, Stock Index CFDs or Cryptocurrencies such as Bitcoin. The platform also grants access to thousands of signal providers with unique profiles.
ZuluTrade’s Traders’ Combos is a unique feature that combines some of the best trading strategies on ZuluTrade. These investable portfolios allow traders to gain diversified exposure to the market. The Traders Combos are similar to eToro’s CopyPortfolios.
CFDs are complex instruments and in order to mitigate the risk associated with CFD trading, traders can use the account protection feature called ZuluTrade.
Overall, ZuluTrade offers a professional marketplace in the area of copy trading. The most unique feature is the new Profit Sharing plan which allows traders to only pay for the trading signals when they are profitable. There is also a risk-free demo account that comes with the same features as real accounts.
Darwinex is an all-in-one solution for copy trading and social trading. Founded in 2012, Darwinex is a trading name of Tradeslide Trading Tech Limited, an entity regulated by the UK’s FCA. Darwinex is an innovative brokerage, which connects experienced traders with exposure to global markets and other users (investors) who back them.
Darwinex is different compared to traditional copy trading platforms because instead of directly replicating the trading activity of other users, Darwinex clients are able to invest in DARWINs (Dynamic Asset and Risk Weighted Investments).
Every DARWIN is a tradable asset and its value is in tight connection either with the performance of a trader who trades at Darwinex, or the performance of a particular automated strategy.
It is important to note that investors can only invest in traders as DARWINs, or they will never be granted access to traders’ track record and active trades. So, this is different from the traditional copy trading model.
DARWINs (traders) are required to meet certain criteria to be considered investable. Their performance is rated on a scale of 0 to 10, with several parameters being considered like trading experience, risk management strategy, timing, consistency and scalability.
These parameters taken together comprise the DARWIN investor appeal (DARWINia) score (D-Score).
The final ranking criteria for DARWINs consist of:
Darwinex will charge investors an annual fee of 1.2% on their invested equity and an additional performance fee of 20% (only if they generate profits with their DARWINs). DARWIN providers (traders) will earn 15% of that 20% performance fee, while Darwinex – the remaining 5%. Consequently, DARWIN providers’ main objective should be to achieve consistent profits.
The bottom line is that Darwinex is another innovative social trading platform regulated by the FCA. Darwinex offers two different account types – one account geared towards traders and the investor account geared to copy trading. Make sure you opt for the trading account that is suitable for your trading needs. The only downside is the limited number of available CFD products.
MyFxBook Autotrade is another account-mirroring service that only displays real accounts without the need to rent your own VPS. AutoTrade, owned by Myfxbook, allows UK-based clients to duplicate a range of trading systems directly into their MT4 or MT5 trading accounts.
The platform grants users full control to add and remove trading systems from their accounts whenever they wish. Copying trades are carried out automatically.
AutoTrade will present only reliable (tested) trading systems as well as real-time systems traded on a live account. This excludes the possibility for traders to come across a trading system that is used on a demo account.
To start trade forex with AutoTrade copy trading platform, UK-based traders need to:
All trading systems listed on Myfxbook are traded with real money, have a minimum account balance of $1,000, have a trading history with at least 100 trades, a minimum 3-month track record and the average pip win per trade exceeds 10 pips.
AutoTrade will present only real data with accurate statistics. This may help traders, to a certain extent, reduce the high risk that stems from trading CFDs as well as improve their profitability. The platform will never visualize bottomless drawdowns.
Overall, MyFxBooks ranks among the most well-known names in the FX copy trading space. What makes the FXAutoTrade copy trading platform a good choice is that its user-friendly interface is geared towards beginners. Supported brokers include big names like Pepperstone, Fusion Markets, IC Markets and FP Markets.
eToro offers the best social trading platform and it’s considered to be an excellent fit for beginner traders. eToro state-of-the-art social network brings into one place millions of trade from across the globe with different levels of trading experience. The platform has a friendly user interface and novice traders can learn from top-notch educational resources. Please follow the link to read the full review.
Pepperstone is the best forex broker in the UK. Costs are low starting from 0.0 pips, execution is fast – 30ms order speed, the range of financial instruments is big – over 180 CFD, there are 3 powerful trading platforms (MT4, MT5 and cTrader) and the customer support is designed to help customers with all their trading needs. Our full review can help you identify the top Pepperstone advantages and disadvantages.
No! Unfortunately, Robinhood trading App is not available to UK residents. Robinhood 2020 lunch was postponed indefinitely due to COVID-19 and due to the regulatory scrutiny in the USA.
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.