What is Copy Trading? #
In this article, we will explore five of the best Forex copy trading platforms and brokers currently available, highlighting their key features and copy trading options.
1. AvaTrade #
AvaTrade is an online globally recognized, fully regulated financial broker that specializes in trading through more than 250 instruments, including over 60 currency pairs, major stock indices, cryptocurrencies, commodities, bonds, individual shares, and more.
Features:
- Accounts: Retail, professional, spread betting, standard, VIP, crypto, and Islamic accounts.
- Leverage: Lower leverage.
- Protection: Negative balance protection.
- Platforms: MetaTrader 4, MetaTrader 5, AvaTrade’s WebTrader, AvaOptions, and AvaTradeGO mobile applications.
- Education: Comprehensive educational services covering trading guides, professional strategies, beginner lessons, advanced tools, and trading safety.
Copy Trading: AvaTrade offers AvaSocial, a copy trading platform that allows users to follow and copy the trades of top traders, interact with them, and learn from their strategies in real-time.
AvaTrade has won multiple awards, such as the best Forex broker, best trading experience, best Bitcoin and CFD broker, and best affiliate program, making it one of the top choices for copy trading.
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2. XM #
XM is an online, fully regulated global financial broker specializing in trading Forex, stocks, commodities, indices, metals, energies, and shares.
Features:
- Accounts: Micro, standard, XM Ultra Low, and shares accounts.
- Leverage: Lower leverage.
- Protection: Negative balance protection.
- Platforms: MetaTrader 4 and MetaTrader 5, supported on Windows, iOS, and Android.
- Education: Educational center with trading videos, live streaming service, and free webinars.
Copy Trading: XM offers the XM MAM (Multi-Account Manager) platform, which allows professional traders to manage multiple trading accounts for their clients, enabling copy trading features for investors who wish to follow expert strategies.
XM provides a rich educational experience and a variety of trading options, making it a reliable choice for copy trading.
3. Windsor Brokers #
Windsor Brokers is a globally recognized, fully regulated financial broker that specializes in trading Forex, indices, commodities, and cryptocurrencies.
Features:
- Accounts: Prime, Zero, VIP Zero, and Invest accounts.
- Leverage: Flexible leverage.
- Protection: Negative balance protection.
- Platforms: MetaTrader 4, supported on Windows, iOS, and Android.
- Education: Educational resources include webinars, video tutorials, market analysis, and eBooks.
Copy Trading: Windsor Brokers offers a copy trading service called Copy Trading Hub, which allows clients to automatically replicate the trading strategies of top traders. This platform provides transparency and detailed performance analytics to help users make informed decisions.
Windsor Brokers offers a range of accounts and educational tools, making it a strong contender for those interested in copy trading.
4. HFM (formerly HotForex) #
HFM is an online, fully regulated financial broker that specializes in trading Forex, metals, energies, indices, and shares.
Features:
- Accounts: Micro, premium, zero spread, auto, and HF Copy accounts.
- Leverage: Lower leverage.
- Platforms: MetaTrader 4 and MetaTrader 5, supported on Windows, iOS, and Android.
- Education: Educational panels with trading videos, courses, and webinars.
Copy Trading: HFM offers HFcopy, a dedicated copy trading service that enables clients to either become a Strategy Provider and earn a Performance Fee or join as a Follower to copy trades from top Strategy Providers.
HFM provides a comprehensive educational experience and a variety of account options, making it a solid choice for copy trading.
5. eToro #
eToro is an online, fully regulated global financial broker that specializes in trading Forex, stocks, commodities, ETFs, indices, and cryptocurrencies.
Features:
- Accounts: Retail and professional accounts.
- Assets: Up to 2000 market assets.
- Protection: Negative balance protection.
- Platforms: eToro trading platform and mobile application, available on Windows, iOS, and Android.
- Education: Market news, analysis panels, podcasts, and tutorial videos.
Copy Trading: eToro is renowned for its CopyTrader feature, which allows users to automatically replicate the trading activities of successful traders. This platform also offers a social feed where users can interact, share strategies, and follow market updates.
eToro's wide range of assets and user-friendly platform make it a popular choice for copy trading.
Conclusion #
These are some of the top five best Forex copy trading platforms and brokers. Whether you are a beginner, intermediate, or professional trader, these platforms offer a range of features and educational tools to help you succeed in the world of copy trading. Good luck with your trading endeavors!
