Best Copy Trading Platforms in 2023 For Social Investing

The best copy trading platforms enable you to replicate successful investors. This is a great way to buy and sell assets passively – especially if you have limited investing experience.

In this guide, we review the leading platforms for copy trading in 2023. Read on to discover which copy trading platforms have the largest pool of investors, the lowest fees, and the widest range of financial markets.

8 Best Copy Trading Platforms 2023 – Complete List

Listed below are the 8 best copy trading platforms in the market today:

  1. eToro: With over 30 million registered users, eToro is the most popular copy trading platform. Thousands of markets are supported, including stocks, ETFs, cryptocurrencies, commodities, and forex. No additional fees are charged to copy trade and there are thousands of verified investors to choose from. eToro also offers social trading tools, enabling users to discover insights and discuss investment ideas.
  2. AvaTrade: This popular CFD broker has developed AvaSocial, a user-friendly app supporting copy and social trading. AvaTrade supports plenty of asset classes, including stocks, forex, commodities, and options. No trading commissions are charged by AvaTrade and the minimum deposit requirement is $100. AvaTrade offers leverage on all supported markets and the platform is regulated in nine jurisdictions.
  3. ZuluTrade: Offers a subscription-based copy trading plan starting from $10 per month. ZuluTrade is regulated in multiple countries and has been operational since 2014. This multi-asset platform supports stocks, cryptocurrencies, forex, and other markets. ZuluTrade also offers a mobile app for iOS and Android.
  4. DupliTrade: This third-party trading platform connects with popular online brokers, allowing users to follow successful strategies. DupliTrade vets all traders and strategies before making them available to its clients. The most popular strategy, ‘Legacy’, has returned 543% since it was launched 677 weeks ago. The minimum copy trading amount is $5,000.
  5. NAGA: User-friendly broker with copy trading tools, NAGA supports over 1,000 markets. This includes stocks, futures, cryptocurrencies, ETFs, and commodities. NAGA charges $0.99 per trade, plus a 5% commission on profitable positions. However, the commission is waived if less than $10 profit is made.
  6. MetaTrader 4 & 5: Two of the most popular trading platforms globally, MetaTrader 4 and 5 are supported by hundreds of brokers. MetaTrader has a native marketplace, MQL5, which sells trading bots and automated strategies. MQL5 also allows you to copy other traders for a monthly fee.
  7. cTrader: This is another third-party copy trading platform that connects with online brokers. cTrader offers equity-to-equity plans, meaning copy trading positions are proportionate to the amount invested. Although several asset classes are supported – including forex and commodities, cTrader does not permit stocks in copy trading portfolios.
  8. OKX: Tier-one crypto exchange with copy trading tools and automated bots. It takes seconds to open an account and copy trading positions are confirmed instantly. OKX not only supports crypto spot trading markets but also leveraged derivatives. No additional fees are charged to copy trade.

Top 8 Social & Copy Trading Platforms Reviewed

The best copy trading brokers will now be reviewed in full. We cover everything investors need to know when choosing a suitable platform.

1. eToro – Leading Copy and Social Trading Platform With Thousands of Assets and Low Fees 

eToro is the leading copy trading platform, with more than 30 million registered users. Launched in 2007, eToro is a regulated broker with multiple tier-one licenses. Not only is eToro licensed by FINRA but also the FCA, CySEC, and ASIC. Client funds and investments are held in segregated accounts for your safety.  It takes less than five minutes to open an account. You’ll then have access to thousands of verified copy traders.

Our eToro copy trading review found the platform offers lots of statistics and key information. You can filter traders by their average holding time, preferred markets, risk profile, and of course – past performance. You can also view the historical track record of each trader, in terms of individual positions. This gives you all of the information you need to select the best copy trader for your financial goals.

eToro copy trading review

There is a minimum investment requirement of $200 per trader. eToro doesn’t charge additional fees when using the copy trading tool. Instead, you’ll indirectly cover standard trading fees and spreads whenever the trader enters a position. There are no commissions when stocks or ETFs are being traded. Forex, commodities, and indices are traded on a spread-only basis.

The eToro copy trading tool also supports the best cryptocurrencies to trade, including Bitcoin, Cardano, Solana, and Ethereum. However, cryptocurrency commissions are 1% at eToro, which is much higher than other platforms. That said, USD deposits and withdrawals are fee-free. This includes bank transfers, debit/credit cards, and selected e-wallets. Other currencies are charged an FX fee of 0.5%.

eToro copy trading review

After you’ve deposited funds and chosen a trader, eToro gives you full control of your portfolio. You can add or remove assets at any time. You can also stop copying traders or reduce your position with ease. eToro also offers social trading tools, enabling users to share investment ideas and assess broader sentiment. Finally, eToro – which is rated ‘Excellent’ on TrustPilot, also offers the best copy trading app for Android and iOS.

Supported Assets Stocks, ETFs, indices, forex, commodities, and cryptocurrencies
Fees 0.5% fee on non-USD payments. Stocks/ETFs are commission-free, cryptocurrencies are charged 1%, and other assets can be traded on a spread-only basis. No additional fees to copy trade

Pros pros

  • Overall best copy trading platform for 2023
  • Thousands of verified traders to choose from
  • No additional fees are charged when copy trading
  • Supports stocks, forex, cryptocurrencies, commodities, and more
  • Also offers a social trading app for Android and iOS
  • Fast account opening process and a user-friendly dashboard

Cons cons

  • Minimum copy trading investment of $200 might be too high for some
  • 0.5% FX fee on non-USD deposits and withdrawals

76% of retail investor accounts lose money when trading CFDs with this provider.

2. AvaTrade – Popular Copy Trading App Supporting Leveraged Markets at 0% Commission             

AvaTrade is a popular trading platform that supports more than 1,000 leveraged CFDs (contracts-for-differences). This includes individual stocks, indices, ETFs, options, forex, commodities, and some of the best cryptocurrencies to buy. The AvaTrade copy trading tool is available on AvaSocial; a proprietary app for iOS and Android.

AvaSocial makes it simple to choose a suitable trader to copy. You can filter traders by their past performance, maximum drawdown, average trade duration, and other key metrics. You can also ask copy traders questions before proceeding. AvaTrade also offers forex social trading tools, enabling users to discover new strategies and insights.

AvaSocial review

There are no additional fees charged by AvaTrade when using its copy trading tool. Nor are there any deposit or withdrawal fees, let alone trading commissions. AvaTrade makes money from the spread, which starts from 0.9 pips when copy trading forex. AvaTrade offers leverage of up to 1:400, although limits depend on where you live. Do note that AvaTrade doesn’t accept clients from the US.

Supported Assets Stocks, ETFs, indices, forex, commodities, cryptocurrencies, options, bonds
Fees No deposit/withdrawal fees or trading commissions. No additional fees to copy trade. AvaTrade makes money from the spread

Pros pros

  • Best copy trading platform for leveraged CFDs
  • No commissions or copy trading fees
  • Regulated in nine jurisdictions
  • One of the best forex demo accounts ($100,000 in paper funds)
  • 24/5 customer support via live chat

Cons cons

  • CFDs only – so US clients cannot open an account
  • Minimum deposit of $100

Trading CFDs and FX Options entails risk and could result in the loss of your capital.

3. ZuluTrade – Subscription-Based Copy Trading Plans Starting From $10 per Month

Founded in 2014, ZuluTrade is an established copy trading platform. It’s regulated in multiple regions, including the European Union, South Africa, and Japan. ZuluTrade recently restructured its copy trading structure; it now offers subscription-based plans. This starts from $10 per month, per trader.

There are also 3, 6, and 12-month plans, which reduce fees to $9.50, $9, and $8.30 respectively. There are many copy trading strategies to choose from. Some users follow traders based on past performance, while others focus on longevity. All trading profiles come with adequate data, including the number of followers, risk rating, and preferred markets.

Zulutrade copy trading review

ZuluTrade is also the best social trading platform for user experience. Users can post their trading ideas, ‘like’ comments, and search for trending hashtags. In terms of supported assets, ZuluTrade covers dozens of forex pairs. It also supports cryptocurrencies, indices, commodities, and stocks. All markets are backed by CFDs, meaning leverage and short-selling are available.

Supported Assets Stocks, indices, forex, commodities, cryptocurrencies
Fees Flat monthly subscription fee for each trader being copied. Starts from $10, but discounts are available on 3, 6, and 12-month plans

Pros pros

  • Established in 2014 and regulated in multiple regions
  • User-friendly platform will appeal to beginners
  • Wide range of markets supported – including commodities, forex, and stocks
  • One of the best social trading platforms for community experiences 

Cons cons

  • Monthly subscriptions need to be paid even if the trader makes a loss
  • Doesn’t support ETFs

4. DupliTrade – Established Copy Trading Provider With 13 Pre-Vetted Strategies to Choose From 

DupliTrade is an established copy trading provider that connects with the best day trading platforms. It doesn’t offer brokerage services, so trading fees will depend on your chosen platform. Moreover, DupliTrade supports just 13 strategies. That said, all strategies have been pre-vetted and tested by the DupliTrade team.

The most popular strategy, ‘Legacy’, has been active for 677 weeks. Since then, this strategy has produced returns of 534%. Like many strategies on DupliTrade, Legacy focuses on the forex market. After choosing a strategy, you’ll need to connect DupliTrade with a suitable broker. Thereon, all buy and sell positions will be copied automatically.

DupliTrade review

The main drawback of DupliTrade is that the minimum investment requirement is $5,000. This means that DupliTrade won’t be suitable for casual traders. That said, DupliTrade doesn’t charge any fees. Its strategy providers make money from the trading commissions and spreads you pay your brokerage platform.

Supported Assets Mainly forex, but some strategies also support other asset classes
Fees No fees are charged by DupliTrade

Pros pros

  • 13 copy trading strategies to choose from
  • All strategies are pre-vetted and tested before going live
  • Connects with the best forex brokers in the market
  • No fees are charged to copy strategies

Cons cons

  • Minimum investment requirement of $5,000
  • Most strategies focus on forex exclusively

5. NAGA – User-Friendly Copy Trading Platform With Customized Investments and Risk Management Tools  

NAGA is a user-friendly broker that also supports copy trading tools. More than 1,000 markets are available, including forex, stocks, cryptocurrencies, ETFs, indices, futures, and commodities. According to NAGA, the average win ratio of its 10 most profitable traders is 84.7%. In addition to past performance, you can choose traders based on their preferred assets and average hold duration.

We like that NAGA offers customization settings when copying a trader. For example, you can select the investment ratio, which determines what percentage of your balance should be utilized on each position. You can also set up custom stop-loss and take-profit percentages.

NAGA copy trading review

This means your position might be closed before the trader, based on your risk management requirements. One of the main drawbacks of NAGA is its fee structure. You’ll pay $0.99 per buy-and-sell order, regardless of how much is being traded. This can make NAGA expensive for those trading small amounts. What’s more, there’s a 5% commission on profitable traders of $10 or more.

Supported Assets Forex, stocks, cryptocurrencies, ETFs, indices, futures, and commodities
Fees $0.99 per trade. 5% commission on profitable trades of $10 or more

Pros pros

  • Customize your copy trading positions with take-profit and stop-loss tools
  • Available on web browsers and an iOS/Android app
  • Supports more than 1,000 markets
  • Doubles up as a broker – so no third-party integration is needed

Cons cons

  • Flat commission of $0.99 won’t be suitable for casual traders
  • 5% commission on trades making over $10 in profit

6. MetaTrader 4 & 5 – Industry-Leading Platforms With Over 1,800 Copy Traders 

Next up is the MetaTrader series, MT4 and MT5. Both of these automated trading platforms come packed with analysis tools, including customized charts, technical indicators, and backtesting facilities. MetaTrader also has a marketplace, MQL5, which offers access to copy trading tools. Known as ‘Signals’, there are over 1,800 copy traders to choose from.

The MetaTrader copy trading dashboard offers plenty of filters to help you select a suitable trader. This includes past performance, reliability, pricing, and whether or not leverage is utilized. You can also filter by the preferred financial instrument. Both MT4 and MT5 support multiple asset classes, including forex, stocks, and commodities.

MQL5 copy signals

That said, supported assets depend on your preferred MetaTrader broker. Nonetheless, copy trading fees are charged on a monthly basis, averaging $30 to $40. There are no profit-sharing agreements, so fees are paid regardless of whether or not a positive return is generated. MT4 and MT5 also support demo trading, but you’ll need to log in with a brokerage username and password.

Note: Check out our comprehensive guide on the best MT4 brokers for 2023.

Supported Assets Depends on the MT4/MT5 broker. Most commonly traded assets include forex, stocks, and commodities
Fees Set by copy traders, but averages $30 to $40 per month

Pros pros

  • Leading trading platforms supported by hundreds of online brokers
  • Choose from over 1,800 copy traders
  • Test traders in demo mode before going live
  • Also supports automated robots

Cons cons

  • Average fees of $30 to $40 per month is considered expensive
  • Not accessible without a brokerage username and password

7. cTrader – Equity-to-Equity Copy Trading Portfolios With STP Execution  

cTrader is another third-party trading platform supported by popular online brokers. It offers several passive investing features, including copy trading. It leverages an equity-to-equity framework, meaning copy trading positions are proportionate to the amount invested.

For example, suppose you invest $1,000 into a copy trader, and they risk 10% of their portfolio on the first trade. This means you’ll risk 10% of your investment, which is $100. Another benefit of cTrader is that it supports STP (Straight-through processing) execution.

cTrader review

When connected with the best STP brokers, this ensures traders avoid internal dealer desks and price manipulation. In terms of minimum investments, this is determined by each copy trader. Moreover, traders choose their own pricing structure. This can include both performance and management fees.

Supported Assets Varies depending on the connected broker. However, cTrader doesn’t allow stocks to be copy traded
Fees Set by copy traders and can include both performance and management fees

Pros pros

  • Best copy trading platform for STP execution
  • Equity-to-equity framework will appeal to those on a budget
  • Customized stop-loss positions when copying traders
  • No minimum time frames – start and stop copying whenever you wish

Cons cons

  • Prices are set by copy traders and can include both performance and management fees
  • Does not support stocks

8. OKX – Tier-One Crypto Exchange With Copy Trading Tools and Low Commissions 

OKX – which is considered one of the best crypto exchanges, also offers copy trading tools. It supports hundreds of cryptocurrencies, ranging from large-caps like Bitcoin and Ethereum to brand-new projects. What’s more, OKX also supports leveraged derivatives, including perpetual swaps, futures, and options.

There are dozens of traders to choose from on OKX, each with their own copy trading strategy and preferred markets. You can sort traders by their past performance, assets under management, or popularity. After clicking on a trader, you can view the maximum drawdown, average hold duration, and other key stats.

OKX copy trading

Most copy traders have a profit-sharing agreement in place. This means you’ll only pay commissions if the trader is profitable. You’ll also need to cover OKX’s trading commissions. Fortunately, this never exceeds 0.1% per slide. In addition to copy trading, OKX also supports automated robots.

Supported Assets Cryptocurrencies, including spot markets and derivatives
Fees Profit-sharing commissions are set by traders. OKX trading commissions never exceed 0.1%

Pros pros

  • Leading crypto exchange offering copy trading tools
  • Supports hundreds of cryptocurrencies
  • Choose from spot trading or leveraged derivatives
  • Low trading commissions of just 0.1% per slide

Cons cons

  • Doesn’t support non-crypto assets
  • Some traders charge profit-sharing fees of over 10%

Our Methodology When Ranking the Best Copy Trading Platforms

There are many copy trading platforms to choose from and we’ve ranked the top 8 providers. Our ranking system is based on various metrics, each weighted depending on their importance.

This includes:

  • Brokerage or Third-Party Integration: We first explored whether or not the copy trading platform offers direct brokerage services. This means that the trades you’ll be copying are executed directly on the platform – which offers the most convenience. eToro and NAGA are two such examples. Conversely, some copy trading platforms – such as cTrader and MT4/5, need to be connected with a broker.
  • Supported Markets: Copy trading is a broad investment tool that covers many different markets. However, you’ll need to check which markets the platform supports before proceeding. eToro is a good example of a multi-asset platform; it supports thousands of markets across stocks, ETFs, cryptocurrencies, commodities, indices, and forex. In contrast, OKX specializes exclusively in crypto copy trading.
  • Copy Trading Pool: We prefer copy trading platforms with a large number of verified traders. This gives you lots of options when choosing a trader to copy. If the platform has a small pool of traders, you might be tempted to copy someone that doesn’t fully align with your financial goals and risk tolerance.
  • Fees: There are various fees to assess when choosing the best copy trading platform. First, some platforms have a profit-sharing framework. This means you’ll pay the trader a percentage of any returns they make. Management fees are also possible, which need to be paid regardless of whether the trader makes a profit. Trading fees should also be considered, including spreads and commissions.
  • Minimum Investment: Most copy trading platforms have a minimum investment requirement. This is usually the amount that needs to be invested per trader. For example, the minimum at eToro is $200, while DupliTrade requires $5,000. Using a platform with small investment minimums will enable you to diversify your holdings.

What is Copy Trading?

Copy trading is an investment tool that offers a passive investing experience. In simple terms, it enables investors to ‘copy’ other traders. This is usually on a proportionate basis, based on the amount being invested.

  • For example, suppose you invest $2,000 into a copy trader specializing in large-cap stocks.
  • The trader allocates 10% of their bankroll to Disney.
  • You invested $2,000, so you automatically buy $200 worth of Disney stock.
  • A few weeks later, the trader closes their Disney position – making gains of 20%.
  • You replicate the exact same returns, so you make passive investment gains of $40 (20% of $200).

Crucially, copy trading allows you to mirror successful traders with a proven track record. Most copy trading platforms provide real-time data on their traders, allowing you to make an informed decision. For instance, you might decide to copy traders that have made gains of at least 25% for three consecutive years.

What is Copy Trading?

Or, you might focus on specific strategies, such as swing trading or long-term value investing. Either way, it’s important to remember that copy trading can yield losses. After all, you’re simply copying the performance of another trader. The best risk-management solution is to copy lots of different traders from various markets and strategies.

Copy Trading vs Social Trading

Many copy trading platforms double up as social trading communities. But what’s the difference between the two?

  • Copy trading is an investment tool, meaning you’ll be replicating another trader. Anything they buy or sell, you’ll automatically do the same.
  • Social trading allows you to communicate with other like-minded traders on the same platform. You can often share trading ideas, ‘Like’ comments, follow individual traders, and gauge broader market sentiment.

How Profitable is Copy Trading?

As explained by the Financial Times, copy trading can be profitable, but losses are also a possibility. Whether or not you’re able to generate a return will depend on the trader(s) you’re copying. This is much the same as investing in a managed fund; if it makes money, so will you. If it makes a loss, you will do too.

There are many successful copy traders, some with tens of thousands of followers. These have proven long-term that they can effectively navigate the markets in a risk-averse way. However, no traders are immune from losing runs. You should expect that at some point, even the best traders will have unsuccessful months.

How profitable are copy trading platforms?

Although this might initially result in portfolio losses, it’s important to look at the longer-term picture. This is especially the case if the trader has historically outperformed the market over several years. In other words, copy trading should be viewed as a long-term investment, as dipping in and out of the market is unlikely to be successful.

The most effective way to reduce the risk of loss is by diversifying. For example, at eToro, the minimum copy trading investment is $200. So, if you deposited $2,000, you’d be able to copy 10 different traders. Even if a few of your traders have an unsuccessful month, the others might have generated enough profit to counter any losses.

Copy Trading Fees to Consider

You’ll also need to consider fees when assessing profitability.

Here are some of the fees you might come across when choosing the best copy trading platform.

  • Performance Fee: You might need to pay a performance fee on any profits made by the trader. For instance, suppose the trader made you $400 during the month and they charge a 15% performance fee. This means you’ve paid $60, leaving you with $340.
  • Management Fee: Although less common, some copy trading platforms charge management fees. This is usually charged on the amount invested regardless of performance. For example, suppose the management fee is 4%  and you initially invest $10,000. In this instance, you’ll pay the platform $400.
  • Trading Fees: You should expect to pay trading fees whenever positions are copied. Some platforms charge variable commissions. For instance, OKX charges 0.1% per slide. You’ll also need to factor in spreads, which is the difference between the bid and ask prices. These fees will eat into your potential profits,  so it’s crucial to understand what you’ll need to pay before proceeding.

The 5 Best Investors to Copy

We have established that diversification is crucial when copying other traders. In light of this, we’ve compiled a list of the best copy traders to follow in 2023.

Note: The following traders have been selected from eToro, which has the largest and most liquid copy trading pool in the market.

Jeppe Kirk Bonde: Over 22,000 Copiers and a Proven Track Record Since 2013

With over 22,000 followers, Jeppe Kirk Bonde is the most copied trader on eToro. Bonde first joined the platform in 2013, so has over 10 years’ worth of verifiable experience. Not only is Bonde the most copied trader on eToro but also one of the most successful.

In fact, Bonde has had 48.15% profitable weeks since joining, including 11.45% returns year-to-date. Although Bonde made a 19.2% loss in 2022, the previous three years were successful. Gains of 15.8%, 36.7%, and 45.6% were made in 2021, 2020, and 2010 respectively.

Jeppe Kirk Bonde eToro

Bonde is a long-term investor with an average holding time of 26 months. Almost 97% of investments are made in stocks, with the balance allocated to ETFs and cryptocurrencies. Some of Bonde’s largest portfolio holdings right now are UBS, Microsoft, Meta Platforms, and Host Hotels & Resorts.

Anders Jensen – Specialist Cryptocurrency Trader With 124% Gains YTD

One of the best cryptocurrency traders to copy is Anders Jensen. Year-to-date, Jansen has made gains of 124%. Over the same period, Like many cryptocurrency investors, Jensen made a loss in 2022.

That said, in the previous two years, Jensen made gains of 53% and 300% respectively. Jensen is a long-term investor, with an average holding time of 27.5 months. Since joining eToro in 2019, Jensen has had 55.5% profitable weeks.

Anders Jensen copy trading

Although Jensen has a risk rating of 5, this is considered low for a cryptocurrency-centric portfolio. Jensen has over 1,500 followers right now and he regularly keeps his investors updated with key market movements.

Dmytro Maksymchyn – Diversified ETF Portfolio Covering Thousands of Financial Instruments 

Dmytro Maksymchyn is one of the best copy traders for diversified portfolios. Maksymchyn focuses on ETFs from many different markets, ensuring that his followers have exposure to thousands of instruments. For example, 15.5% of the portfolio is invested in the Vanguard Total World Stock ETF.

This ETF holds over 9,700 individual stocks from around the world. This includes Europe, the Middle East, North America, and Asia-Pacific. Maksymchyn also has exposure to the Technology Select Sector SPDR. This offers exposure to 64 leading technology stocks, including Apple, Microsoft, Adobe, and Oracle.

Dmytro Maksymchyn eToro copy trader

Maksymchyn joined the eToro platform in 2019, ending the year with gains of 21.7%. 2021 saw returns of 51.7%, but 2020 resulted in a 20.2% loss. Year-to-date, Maksymchyn’s portfolio is up 16%. The average trade duration is 25 months and Maksymchyn has a risk score of just 4.

Nang Nguyen – 64% Gains YTD Across Stocks, Crypto, and ETFs

Nang Nguyen is a trending copy trader with over 127 followers gained in the prior week. Based in Vietnam, Nguyen is one of the best-performing traders in recent months. Year-to-date, his portfolio is up 64%. Over the same period, the S&P 500 has grown by just over 15%.

Nguyen has a well-diversified portfolio that covers several asset classes. 73.2% of the portfolio is held in stocks, including Microsoft, Apple, and Amazon. In addition to ETFs and indices, Nguyen also holds cryptocurrencies. This includes Bitcoin, Solana, Ethereum, and BNB.

Nang Nguyen copy trader on eToro

In terms of strategy, Nguyen is a long-term value investor with a strong focus on risk management. During times of market volatility, Nguyen increases his exposure to ETFs. And when the markets are bullish, exposure to high-growth stocks and cryptocurrencies is increased.

Amit Kupfer – Popular Stock Trader With 2-Year Returns of 143%

Amit Kupfer is also worth considering when searching for the best traders to copy. Kupfer is a popular stock trader who joined eToro in 2019. Had you invested in Kupfer’s portfolio two years ago, you’d be looking at gains of over 143%. This year alone, Kupfer has generated returns of 57.7%.

According to Kupfer’s profile, four investment concepts are followed. Kupfer must understand the underlying business, be run by quality management, and sell durable products or services. Moreover, Kupfen will only invest if the stock is trading at a sensible price.

Amit Kupfer eToro copy trading

Due to increased market volatility, Kupfer’s portfolio currently holds just four stocks; Petroleo Brasileiro, Whitehaven Coal, Alpha Metallurgical Resources, and AESI Holdings.

How to Choose a Copy Trader?

Choosing the right copy trader for your risk profile and financial goals is paramount.

Here’s what to look for when researching potential traders to follow:

  • Past Performance Since Inception: You’ll want to focus on traders that have generated the biggest returns. However, you should also consider the performance time frame. The longer the trader has been active, the better. This adds validity to their results, which you won’t get if the trader has only been on the platform for a few months.
  • Average Trade Duration: The average trade duration lets you know what investing strategy is being used. For example, if you’re looking for long-term investors, the average trade duration should be at least 12 months. Alternatively, if you’re looking to follow a day trader, the average duration will likely be hours or minutes. Choose a strategy that aligns with your goals.
  • Preferred Markets: Consider what markets you want exposure to when trade copying. While some traders focus on stocks, others venture into cryptocurrencies or forex. It’s a good idea to cover multiple asset classes, as your copy trading portfolio will be more balanced.
  • Number of Followers: It’s worth focusing on copy traders with a large number of followers. This is because they likely have an established track record on the platform. Be sure to compare the current number of followers with previous periods. If the number is increasing, this is a good sign.
  • Risk Score: The best copy trading platforms assign traders with a risk score. This is usually generated by an algorithm and based on various metrics. For example, the type of assets being traded, how much is being risked per position, and the length of time on the platform. If you invest in traders with a high-risk score, you should expect higher returns.


We’ve ranked the best copy trading platforms for 2023 and overall, eToro is a clear winner. Not only does eToro have the largest pool of traders, but it offers direct brokerage services.

What’s more, the minimum investment per trader is just $200, and thousands of markets are supported. This includes commission-free stocks and ETFs, not to mention cryptocurrencies, forex, and commodities.

76% of retail investor accounts lose money when trading CFDs with this provider.



How do you copy a successful trader?

Can you lose in copy trading?

Is copying traders worth it?

What is the best copy trading platform?

Can you really make money from copy trading?

What is the downside of copy trading?

Kane Pepi

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…