The last years have witnessed the proliferation of a variety of copy trading platforms. These are online brokerage platforms where users, embedded in a social network, receive information about the financial positions of others and, most importantly, can decide to automatically copy the financial decisions of other users.
In other words, copy trading platforms offer the possibility of allocating a monetary endowment to reproduce the financial strategies of the user one wants to copy. Due to the growth in popularity of this trading technique, almost all top brokers have started offering this service. Here are some of the best forex broker(s) for copy trading.
NPBFX is a reliable STP/NDD broker which has been operating since 1996. It works by outputting all trade orders directly to liquidity providers using STP/NDD technology. These include banks and ECN systems. It acts as an intermediary between clients, and liquidity providers. The broker is ideal for individual traders with trading strategies, algorithmic traders, HFT traders, institutional clients, and partners including brokerage companies, corporate clients, and hedge funds.
It accepts multiple payment methods including Credit cards Visa/MasterCard/Maestro, Bank Wire Transfer, WebMoney, QIWI, Yandex, Skrill, Neteller, and FasaPay.
FortFS is an international financial broker that has been operating in the market since 2010 with clients from more than 30 nations. One of the most salient features of the broker is several tradable contracts available among the best fifty brokers of the world.
Trades have more than 500 contracts to choose from, including more than 150 FX pairs, Binary Options, and CFD contracts on oil, gas, and commodities. Other instruments available include palladium, futures, indices of U.S, European, and Asian stock exchanges, ETF contracts, and FX futures.
Orbex is a fully licensed and regulated FX broker which provides trading in currencies, precious metals, commodities, CFDs, and futures. It provides a wide range of instruments, leverage up to 1:500, free trading central FX signals, daily market report and analysis, zero commission, fixed spreads at 0.9 pip, extremely fast execution, and free VPS.
It accepts payment methods such as Direct Debit / Credit Cards, SKRILL, Moneybookers, WebMoney, Wire Transfer, Cashu, and Neteller.
AMarkets is a globally recognized broker founded in 2007. It has won several accolades over the years, and has started offering RAMM Copy Trading.
RAMM Copy trading allows traders to gain by following the strategies of experienced traders and copying their trades. The broker also comes under the jurisdiction of the Financial Commission, an independent external dispute resolution organization. This provides insurance of up to € 20,000 per claim from its compensation fund.
FBS is a regulated online broker in existence since 2009. It is currently providing services in over 150 nations with more than 17 million traders under its belt. The broker offers competitive leverage, valuable bonuses, and no commission fee charged for standard, micro, and cent accounts.
Additionally, the broker does a great job of providing free educational resources in different formats such as articles, videos, webinars, and seminars. The FBS copy trading app provides copy trading capabilities.
MultiBank is a broker that combines liquidity, cutting-edge technology, and first-class customer service. Traders have the opportunity to trade currencies, metals, shares, commodities, indices and cryptocurrencies.
There are over 20,000 market CFDs on offer, more than 55 major, cross, and exotic FX pairs and over 200 cryptocurrency CFDs. MultiBank provides instant and stable nano-second execution, as well as free MAM, PAMM, EA, VPS, and API.
Swissquote Bank is an FX broker which provides trading in currencies, stocks, energies, and commodities. Established in 2000, the broker allows trading in USD, CHF, EUR, GBP, JPY, HKD, CAD, and AUD.
It supports trading platforms such as Advanced Trader, Web Trader, Mobile Trader, and Metatrader 4. It comes under the jurisdiction of FINMA, DFSA, MFSA, and MiFID regulations.
There are several brokers now available for copy trading. It is always an advantage for novice traders who use copy trading by using signals from experienced traders. The above brokers are some of the best examples of copy trading brokers.
Before choosing any broker, traders should conduct research into the background and ethics of the company behind the broker.