You can use it to automate your trading strategy, or you can copy the trades of expert traders or crypto bots that you find on their marketplace. Learn about the best crypto copy trading platforms that allow you to replicate the strategies of successful traders. If one is able to choose a trade-worthy platform and the right trader to copy, it might turn out into a profitable long-term trading approach.

  • Learn about the best crypto copy trading platforms that allow you to replicate the strategies of successful traders.
  • This is a relatively simple process which is great for new traders to try out themselves, but it definitely comes with its own questions and concerns.
  • This happens in markets with little interest, or outside of regular trading hours.
  • In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person.

5% of the net earnings will be given to the initial strategy creator when the strategy closes. You can use the fund in your exchange wallet to deploy, and from here everything is automated. Once you have identified a top-performing trader, whose strategies you want to copy.

ommas Review 2023: The Best Crypto Trading Bot for Beginners?

You can choose who to copy from a list of lead traders who have different performance indicators. You can also adjust your copy settings like maximum amount, take profit, stop-loss, and the number of positions. You can use Coinmatics with different exchanges, like Binance, BitMEX, Bitfine, and Bybit. You can also trade with different coins, like Bitcoin, Ethereum, Litecoin, Ripple, Cardano, Polkadot and more. And you can choose different types of trading, like spot, futures, and perpetual.

  • However, they do offer a future leaderboard and it may have this feature enabled soon.
  • In addition to copy trading tools, eToro allows for community discussion, which helps traders to learn from the traders they copy.
  • But luckily, the most popular trading platforms offer multiple features to help you on your investment journey.
  • EToro’s crypto copy trading platform is both unique and functional, with some of the industry’s most innovative social trading features.
  • It can be an extremely effective and profitable way to trade, especially for newbies.

The obvious advantage of copy trading is that it frees up your time for other activities while also allowing you to benefit from the expertise of more experienced traders. You also give up control over your trading decisions, though some platforms allow you to set your own risk parameters and even choose which trades to execute. Copy trading is a form of automated trading that allows investors to replicate the trades of another trader in real-time.

How to Automatically Copy Trade Crypto

Before making financial investment decisions, do consult your financial advisor. Reading through various best crypto exchange reviews online, you’re bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges.

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Pros and cons of copy trading

The platform registers over 2 million trades every month and has a monthly trading volume that surpasses $70 billion. This makes AvaTrade one of the best copy trading platforms for traders interested in all financial markets, not just cryptocurrency. Nowadays copy trading is one of the most popular features for traders (according to the research in BeInCrypto Trading Community) and many exchanges offer such functionality to their users. Replicate the trading activities of financial experts and earn a passive income without spending time researching every investment you make.

  • This is equal parts exciting and scary, but just remember that even when you copy-trade crypto, you are still the one in charge.
  • EToro strives to improve its crypto trading services and also offers a crypto wallet to traders that wish to own the underlying asset.
  • Another advantage of this method is that technical analysis strategies can be applied to any number of assets.
  • Copy trading should only be done through a trusted source, and we highlight one of the best crypto trading platforms below.
  • Copy trading is significantly more social than other types of trading, as it involves interacting more directly with other traders.

It is understandable to hear about how to copy trade crypto and assume that it is an easy task, especially when it comes to using automated services in the crypto space. In some ways, this is true– it is simple to follow the trades of another as it relinquishes you of some of the decision-making processes. This steep learning curve and the option for automation make the process of following and replicating traders easier and more convenient, which naturally makes it more appealing.

Trality’s Marketplace and reversion strategies

You just need to find a trader that you like and start copying them. The expert traders are called “Traders” and the people who copy them are called “Copiers”. When you choose an investor to copy, you can decide how much money to put into them. The percentages will be calculated automatically so that every trade they make will be copied into your portfolio with the same percentage. It is the most time-consuming and labor-intensive trading method on this list.

  • As a result, copying them would theoretically allow you to do the same.
  • For example, the markets are constantly evolving, which may result in the algorithm running on outdated assumptions.
  • Fast and helpful customer service can help you solve any problems or questions you may have.
  • Therefore, assessing a trader’s strategy, risk management practices, and overall performance is essential before deciding to copy their trades.
  • Copy trading in the crypto market presents both opportunities and challenges for investors.
  • It is revolutionary because it brings a social aspect to the world of trading, whilst also helping newcomers learn the ropes and get more accustomed to making their own trading decisions.

This feature also provides new revenue streams for lead traders. AvaTrade is a trusted global brand that is well-known for its extensive asset range for crypto, Forex, and CFD traders. After deciding on the trader you want to copy, immediate edge sign in simply click on the “Copy” button. You will have to set the details for the traders before the platform can start copy trading. It can be used to trade crypto, Forex, stocks, commodities, metals, and other financial markets.

Who Are Trading Signals Providers?

Bybit makes it simple to find traders to copy, automatically open and close the same trades they do, and watch your crypto balance grow. To profit from their work, principal traders can allow others to copy their strategies and trades via the Bybit platform. In exchange, they receive 10% of the profits earned by each follower.

  • This freedom from constant monitoring allows them to focus on other aspects of their lives while still being actively involved in the cryptocurrency market.
  • You can start out copying top traders at FXTM with a minimum deposit as low as $100.
  • So, if you feel that a trading move is not right, you can opt-out anytime.
  • Though it might take some time, it is a fluent ride later as the process is automated.

This is perfect for somebody who is looking to maximize profits without worrying too much about what trading strategies or techniques are being used. With this in mind, copy trading can become a way of forming tighter social bonds with other new and budding traders, where each user learns from the other’s successes and mistakes. Receive updates in real time whenever changes are made to a bot Should a bot underperform, investors have the ability to unfollow it at any time and select another bot.

AvaSocial Copy Trading

Crypto copy trading is a trading strategy that allows anyone to replicate the trades of experienced crypto investors. The copy trading feature means that all – trades opened and closed by the trader are replicated in the follower’s account. MetaTrader 5 offers desktop, web, and mobile versions of the platform.

Enhanced security and risk mitigation protocols mean that your funds are always safe and always yours. Explore whether Digital Surge Exchange is the next best thing for your crypto investment journey. Discover the ins and outs of this crypto exchange in our comprehensive guide. But if you perform copy trading with good knowledge and proper research, you can definitely make some money. You can look for platforms that have multiple support channels, such as live chat, email, or phone support.

Is copy trading safe?

However, they do offer a future leaderboard and it may have this feature enabled soon. You can click on any name to see more stats about their profile. You can further click on any profile to see their detailed stats which include performance over time, their existing portfolio.

  • Connect your account to the trader of your choice and sit back, waiting for results.
  • But what exactly is involved in the actual process of crypto copy trading?
  • Both the expert trader and the follower trader benefit from the copy trading feature.
  • Check what kind of cryptocurrencies you can trade on the platform.
  • You could say that the essence of learning what is copy trading in crypto is learning how to study other people and learning which people align with you on the trading floor.
  • Sure, success is a wonderful thing, especially when you’re piggybacking off of someone who has done the heavy lifting for you.

In the case of the expert trader, he can gain followers, make a name for himself and also earn a commission for every successful trade from his followers. As for those copying his trades — if the trades are successful, they make a passive income. This allows you to automatically copy traders and replicate their financial trades.


Automation provides a special peace of mind in knowing that your actions and decisions will be synced up even when you are asleep or busy yourself. Another aspect of its learning curve comes from the very simple fact that we are all still learning about how these markets actually operate. That being said, brokers such as the aforementioned eToro mitigate these issues and concerns, to an extent.

  • Copy trading is copying the trading strategies or trades of someone else.
  • Since the cryptocurrency trading market is rather new, it might be a good idea to follow a professional trader who has more technical knowledge than you have.
  • Here’s what copy trading is, how it works and what you can expect from it.
  • Some platforms may have higher fees compared to others, so it’s important to consider how these fees might impact your overall profits.

As the cryptocurrency market maturing, we can expect more similar platforms. However, for now, these are the best social trading platforms you could use to copy trades from the top traders. Like eToro, PrimeXBT lets you trade Bitcoin, S&P 500, Gold, EURUSD, and 50+ assets.