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.
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.
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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