Crypto copy trading software allows you to mirror the trades of established and experienced traders. We’ve reviewed and ranked some of the best copy trading software to help you get started.
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What is Copy Trading Crypto?
Crypto copy trading is the strategy of copying other people’s trades. Just like it sounds.
When you copy trade, you are simply mirroring the actions of the leader to generate profit (or losses) as they are. Conversely, you can become a lead trader and have others copy you.
While followers who copy trade skip the pitfalls many new traders experience when they start trading, lead traders also benefit by receiving a small percentage of their followers profits.
The Best Crypto Copy Trading Software Available
Below are some of our favorite software options for copy trading crypto. They are in no particular order. Some of these are services on exchanges, while some are strictly software for your device.
eToro
eToro is one of the original social trading platforms, having started with traditional finance markets and expanded to offering crypto copy trading. Their CopyTrader feature allows users to easily copy successful traders’s strategies in real time.
You can copy up to 100 traders on eToro, with multiple customizations available within CopyTrader. This includes only copying new trades, copying all trades, pausing a copy, and even putting a stop loss on it. Between their copy trading options and their traditional market capabilities, eToro is quite popular.
Social trading platform where you can trade crypto alongside stocks and assets.
PrimeXBT
PrimeXBT offers copy trading and is one of the most popular options to copy BTC traders.
The platform allows professional traders to easily monetize their skills by allowing others to copy their strategies on the platform. More followers means traders earn more money.
PrimeXBT provides you with access to a wide range of markets, including cryptocurrencies, stocks, forex, and commodities. All of these are also accessible via the free mobile trading app.
A trading platform offering crypto, forex, and indices with leverage.
CryptoHopper
CryptoHopper is an extremely popular crypto trading bot, and its mirror trading feature lets users copy other crypto traders.
Essentially you can mirror, or copy, the trading strategies of experts. You can buy their templates, strategies, or signals. Templates include their selection of coins, configuration settings, and more; they are usually offered as a complement to strategies.
Strategies are designed and screened by approved traders and are a collection of technical indicators and parameters that will dictate a bot’s buying and selling decisions. Signals are notifications of a possible hot coin, meaning you can pay to have a third party tell you when a coin is worth investing in. On CryptoHopper, you can take any of these aspects and apply them to your bot.
- Great introduction to crypto trading bots
- Easy to set up for new users
- Compatible with a large number of cryptocurrency exchanges
- Full support for mirror trading
Gate.io
An exchange with an enormous selection of crypto assets and trading pairs, Gate.io has also recently introduced their unique copy trading features.
Lead traders using this platform can earn 5% of the profit that you get from using their strategy. There is no limit on the number of commissions you can receive. Gate also gives users access to a leaderboard of successful traders, which is organized by profitability, trending, and other helpful categories. This allows users to pick a trader to copy based on their needs.
A long-running exchange offering one of the widest selections of crypto assets.
Bitget
Bitget offers a copy trading service where you can automatically copy expert traders’ actions. After connecting your exchange account, you select a trader to follow and set the amount of funds you’d like to allocate.
The platform then replicates the trader’s activity in real-time, ensuring your results mirror theirs. You can view each trader’s performance and success rates before choosing who to follow. Some traders charge for their services, and you also have the option to sell your strategies on the platform.
A fast-growing exchange popular for derivatives and copy trading features.
Shrimpy
Shrimpy is a crypto trading bot that is focused on portfolio management. One of the reasons it makes our list of best crypto copy trading software picks is their “Social Trading” feature. On Shrimpy, social trading cryptocurrency is done in two ways: leading and following. Leaders are the ones who create and make their strategy accessible.
Other traders can then choose to pay (amount varies by leader) to follow that user’s strategy. When the leader makes a change to their portfolio, all followers’ portfolios copy that move. There is a leaderboard that shows the most successful leaders, making it easy for new users to pick a winning strategy from existing participants.
- Excellent free version that offers a large number of features
- Social trading portion that lets you follow other traders
- Different tiers for pricing with support for enterprise-level organizations
- Automatic portfolio re-balancer
Zignally
Zignaly is another popular crypto trading bot that also offers copy trading services.
You can copy expert traders’ activity automatically and essentially let them do the work for you. Once you’ve connected your exchange account, you just need to select the trader that you wish to follow and pick the desired maximum amount of funds you would like to use.
Their copy trading platform then automatically replicates the trading activity of the trader you are following, ensuring your results match the trader’s correctly.Traders will often charge for these services, and you can see the reviews and successes of each trader. You can also sell your strategies rather than buying them.
- Great starting point for new trading bot users
- Focused entirely on cryptocurrency
- Different levels of automation available
- Zignaly is 100% free unlike competitors
Coinmatics
Coinmatics is strictly a copy trading platform where traders can choose to pay to copy another trader’s strategy or have others pay to copy their own. There are also several free strategies available to copy.
The platform is solely focused on copy trading and offers no additional services.
How to Choose the Best Crypto Copy Trading Software
There are several factors you should prioritize when selecting your ideal crypto copy trading software.
Regulation is often overlooked but remains a critical factor to consider. Platforms that are subject to regulations must take precautions to safeguard their customers and implement appropriate controls to safeguard their money.
Understanding a platform’s fee structure is also important, as this will directly affect how much profit you could potentially receive.
Transparent trader metrics regarding trading performance, trade history, and risk appetite are key for users who decide to copy trade leaders with their money. These metrics ensure you can make informed decisions before committing your funds.
Risk management tools like stop-loss and take-profit limits can help users minimize losses and lock in profits before the markets inevitably move.
You should pick a platform or software provider that meets their needs and lets them trade in a safe, open environment by giving these things careful thought.
FAQs
Copy trading can be profitable. However, profitability is dependent on several factors, including fees, trader performance, and market conditions. As with all investments, copy trading comes with risks, and profits are not guaranteed.
The best crypto copy trading platform will depend on your needs, trading knowledge, geographical location, and portfolio diversity.
It is possible to make $100 a day from crypto. However, this is not guaranteed.
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