Best Free Copy Trading Software - Apps
Crypto Copy Trading Platforms | Copy Trading Description.
Most of the time, copy trading, social trading, mirror trading are the same thing. Whatever you want to call it, all you have to do is understand the idea: you simply let someone else create your trading strategy by directly replicating all their trades. Automated mode is the best option, although manual mode is also an alternative.
Why are novice traders so fond of copying trades?
People who want to learn how to trade independently may find it useful to copy professional traders.
With minimal skill required, it is the fastest and most profitable way to enter the cryptocurrency market.
Trading participants risk their own money when making copy trades according to the principle of being in the same boat. Moreover, they only profit when you do.
Why are novice traders so fond of copying trades?
- People who want to learn how to trade independently may find it useful to copy professional traders.
- With minimal skill required, it is the fastest and most profitable way to enter the cryptocurrency market.
- Trading participants risk their own money when making copy trades according to the principle of being in the same boat. Moreover, they only profit when you do.
For Beginners, Best Cryptocurrency Copy Trading Software
The best copy trading broker is BitYard .
Founded in 2014, BitYard is a well-known crypto derivatives trading platform. Additionally, it provides access to the international cryptocurrency market through spot trading, CFDs, and copy trading. BitYard is headquartered in Singapore and has a large organization spanning over 150 countries, thus enabling traders to do business regardless of their nationality.
BitYard Features
- When a user registers an account, BitYard Trading will give them $258 as an incentive.
- Its website is straightforward and easy to use and provides users with a fast trading experience.
- A full money back guarantee is offered to every trader.
- The platform allows customers to create a sample account to test their website.
- The website allows users to trade cryptocurrencies with each other and buy popular cryptocurrencies.
- With BitYard, you can trade futures with up to 200x leverage and cryptocurrencies with up to 125x leverage.
BitYard Fee Structure
Instant transaction fees:
- Manufacturer fee 0.1%
- Beneficiary fee 0.1%.
- Transfer fee 0.1%
Contracts for Difference:
- Transaction fees range from 0.75% to 0.05%.
- Platform opening and closing fees = Margin * Leverage * 0.05%.
- When opening a position in BitYard, 0.1% will be charged.
Derivatives:
- Platform opening and closing fees = Margin * Leverage * 0.025%.
- When opening a position on BitYard, it charges 0.05%.
BitYard: Pros and Cons
BingX - Exchange + Copy Trading App
Founded in 2018, BingX is a cryptocurrency trading platform that offers copy trading, spot trading, and derivatives services. It serves over 100 countries worldwide. As a Bitcoin social trading network, the site is dedicated to providing users with access to cryptocurrency trading ideas and ensuring that everyone who uses it invests in a straightforward, engaging, and transparent manner.
The platform also offers commodities, other CFD trading products, global indices, automated copy trading tool and top forex copy trading.
- BingX Features
With the “Exchange” feature, traders can exchange one cryptocurrency for another with just one click.
All traders who want access to a more advanced trading platform can find it with BingX. The platform provides traders with a simple and modern user-friendly interface and can be used on both computers and mobile devices.
The software also offers a variety of chat tools, overlays, and charts with indicators. - Every time a new account is created on the BingX platform, the company gives the user 100,000 VSD tokens, which are virtual currency. On the platform, these tokens can be redeemed without making a real deposit.
All BingX traders have access to the copy trading feature. With this option, you can imitate some of the great trading techniques used by experienced traders. Professional traders get 8% of their total profits for sharing their ideas.
BingX also provides access to traditional markets. Therefore, it is possible to speculate on price changes in markets such as currencies, indices, and commodities.
BingX Fee Structure
- Trading Fees: For both opening and closing a position, BingX charges the same trading fee of 0.075%. Trading commissions on BingX are 0.075%.
- Deposit Fees: There are no deposit fees when depositing cryptocurrencies with BingX.
- Withdrawal Fees: To withdraw ETH or BTC, the platform charges a fee of 0.007 ETH or 0.0005 BTC. As a result, the cost of withdrawing a stablecoin on BingX can reach up to $28 per transaction.
- Withdrawal Fees: To withdraw ETH or BTC, the platform charges a fee of 0.007 ETH or 0.0005 BTC. As a result, the cost of withdrawing a stablecoin on BingX can reach up to $28 per transaction.
BingX: Pros and Cons
PrimeXBT
One of the best Bitcoin trading platforms is PrimeXBT. It supports more cryptocurrencies like Ripple, Litecoin, Ethereum. Without KYC, you can create your trading account and start trading in about 40 seconds.
- XBT Prime Features
- The site is easy to use and navigate. The Trading Tools menu is where you can find the Copy Trading feature. However, we think it would be better to have it in the header menu. Additionally, “Copy Trading” and “Covesting” are distinct names in the menu and the Copy Trading page. New traders who are targeted by this feature often get confused by these variable names.
- 100x Leverage Trading: The platform offers 100x leverage trading. You only need to deposit 1% of your trading funds to start trading.
- Supported Currencies: The site offers support for 17 cryptocurrencies, more than eToro.
XBT Prime fees
for each trading pair and trading feature a special set of trading costs. The standard trading fee is 0.001%, while it is 1% for copy trading (follower fee).
PrimeXBT Pros and Cons
Byte
Bybit, one of the largest cryptocurrency exchanges, has launched copy trading services.
The best thing about copy trading with Bybit is that there are no additional fees associated with copy trading.
10% of the net profit of the main traders (the trader you follow) will go to them. So, if there is no profit, the main trader will not be paid.
However, Bybit allows up to 100x leverage, which seems very negligible. In my opinion, no exchange should allow copy trading with leverage greater than 10x.
Please see the Bybit copy trade FAQ if you have any additional questions.
Traderwagon
Traderwagon (TW) is one of the newest copy trading brokers that helps both beginners and experienced traders. It is one of the most popular cryptocurrency copy trading platforms. There are many copy and alternative features available. Additionally, it is a platform that connects advanced and beginner traders alike. Users can use TraderWagon to find, track, and replicate trades made by the world’s top traders.
Benefits: Funds are sent instantly. Trading costs are kept low. Other services offered by Smart include, which enables users to create their own trading platforms.
Cons: Not many currencies available for trading. $100 is the minimum amount required to invest.
Security is their top priority, they say. Basic protection is always in place to secure user payments and personal information.
Coincodecap (for wallet management)
The great thing is that the people behind CoinCodeCap are highly qualified and vetted crypto experts. It is a crypto signals platform that offers all the essentials for a beginner crypto trader. The platform’s analytical team monitors crypto market signals. Additionally, it is also known as CoinMonks, which provides articles and videos that improve your crypto and blockchain knowledge.
Pros: Customer service is available via email and live chat every day of the week. On CoinCodeCap, you can watch educational videos. With their crypto signals, Cornix is easy to set up and offers a 14-day trial! YouTube subscribers can access helpful resources including real-time market analysis.
Cons: The site is only available in English, there is no lockbox. There are only a few coins with signs.
3Commas - Free Trading Strategies
A marketplace that showcases the most popular trading tactics available out there. In addition to providing Bitcoin and cryptocurrency trading bots, 3Commas also features a marketplace where experienced traders can share their trading tactics with other platform users.
So, all you have to do is copy the trading strategy to your account, and the crypto bots will take care of the rest by placing buy or sell orders on your 3commas account automatically.
An impressive list of cryptocurrency exchanges where automated crypto trading is possible is one of the advantages of the 3Commas blog. These exchanges include Binance, Binance US, Binance DEX, Binance Jersey, Kraken, Bitfinex, Bitmex, Bitstamp, Bittrex, Bybit, CEX, Ethereum Wallet, Exmo, Gate.io, Coinbase Pro, Hitbtc, Huobi, Huobi US, Kraken, Kucoin, OKex, Poloniex
Security: No money is held on the trading robot site, and no withdrawal is allowed.
Pros: Large number of supported exchanges; Solid reputation; Great user interface; and.
Cons: Not all exchanges allow automated trading; creating custom bots without TradingView is challenging for beginners.
Pricing: Starter ($14.50/month), Pro ($49.90/month), Advanced ($24.50/month); 3-day free trial of PRO plan. Cheapest package has fewer features.
MoonXBT
A crypto derivatives trading platform with unlimited potential and unparalleled bargains is MoonXBT, which debuted in 2021. The platform is available in over 200 countries and is known for its unique light trading contract. On its platform, only copy trading is included. With this feature, users can carefully copy experienced and unusual traders.
Benefits: Guarantees high liquidity. In addition, it has a clear K-line price. Fast transaction flow. No deposit fees.
Cons: The platform is quite young. There are only a few cryptocurrencies in circulation.
Security: To maintain the confidentiality of your personal information and protect it from loss, misuse, unauthorized alteration or destruction, MoonXBT has put in place technical and organizational security measures. Your personal information is only accessible to authorized MoonXBT employees.
Bit miracle
Another noteworthy crypto-focused social copy trading platform is Wunderbit. Using automated trading bots, Bitcoin investors can trade independently or mimic the moves of seasoned crypto traders. Additionally, users have access to smart trading terminals. Binance, Binance Futures, Deribit, FTX, FTX US, Bybit, Kucoin, OKEX, HitBTC, and Kraken are supported exchanges on Wunderbit.
Security: Due to API restrictions and 2FA, payments are secure.
Pros include a wide range of exchanges, open trader records, ease of use, over 2,000 users, a private buy-sell exchange, availability of trading terminals and robots, and the option to use the exchange for free for the first month.
Cons: Limited user base; No good traders to repeat; Slow customer service.
Pricing: Revenue sharing model (free for the first month, then you have to participate without monthly fees; 30% of your profit every two weeks.
eToro Copy Trading
In fact, eToro is a pioneer in social trading. It has the most advanced social trading capabilities on the market. It enables you to trade currencies, commodities, stocks, and exchange-traded funds (ETFs). More than 16 cryptocurrencies are now supported.
The Forex copy trading feature on eToro is interesting. Social investing, unlike traditional copy trading, allows you to imitate the trades of other traders with varying degrees of risk and exposure. This way, you can reduce the risk of losses if you wish and do not completely depend on the actions of other traders. The fact that traders can create their own blogs makes this service similar to a social network for investors.
For the top 50 most copied traders in 2019, eToro claims that copy traders made an average profit of 29.1% per year.
Etoro is fully regulated by the FCA and CySec. Industry-leading security mechanisms protect your funds, and no private information is shared without your consent.
Advantages include a wide range of tools, a trustworthy and organized organization, and the opportunity for traders to create a blog where they can interact with other robots and clone access to the trading terminal.
Cons: Inactivity fees, lack of crypto deposits (only USD deposits), delayed customer service, need to charge fees for withdrawing funds, and the fact that the tool can be difficult for beginners due to the verification process.
Pricing: Official eToro fees for spreads, withdrawals only are subject to a $5 charge.
shy
The cloud-based cryptocurrency trading platform is ShrimpyApp. Shrimpy allows users to create a portfolio of cryptocurrency assets, choose the percentage weight of each coin’s value within the portfolio, and schedule automatic portfolio rebalancing at pre-defined intervals.
Other features of ShrimpyApp include Social (to follow other traders’ techniques), Insights (to learn how other Shrimpy users manage their portfolios), and Backtesting. Binance, Binance US, BitFinex, Bibox, Bittrex, Bittrex Global, Bitmart, Bitstamp, Coinbase Pro, Gemini, HitBTC, Huobi Global, Kraken, KuCoin, OKEx, and Poloniex are just a few of the many exchanges that Shrimpy’s business serves.
Security measures include two-factor authentication, API key encryption, and fully secured HTTPS (with SSL).
Benefits include automatic rebalancing, security precautions, and a large number of supported exchanges (16 premium exchanges!).
Useful referral system.
Cons: None.
Cost: Recurring monthly membership fee. Difference: Users can create a portfolio and connect to their exchange account with a free Hodler subscription. All of Shrimpy’s features, such as custom index builder, rebalancing, backtesting, social trading, and insights, are included in the Pro package.
Signals
For Binance and other exchanges, Zignaly is a social crypto copy trading platform that specializes in catering to the needs of crypto users and investors. By establishing connections between different crypto exchanges using API keys, investors can create trading wallets. KuCoin and Binance fans love this service.
How to copy trade? Create an account on Zignaly, connect your exchange using API credentials, and choose from multiple cryptocurrency traders you want to follow.
Overall, Zignaly Zignaly is a great site to copy other traders, and it can definitely reduce the stress that unpredictable markets like cryptocurrencies tend to become.
protection
We have taken the security of the platform very seriously while building it. Your funds are completely safe because we do not demand withdrawal privileges and we execute trading orders on the exchange on your behalf.
Advantages: User-friendly interface; Cashback on trading expenses; Availability of copy trading + terminal + robots.
Cons: None.
Pricing: Using the platform is free; copy trading is also free, but there is a monthly membership fee for traders ranging from $5 to $500; there is a 14-day trial period.
questions and answers
How do I choose the best trading apps?
Choosing the best copy trading platform for you is not an easy task. When choosing a copy trading software, there are several things to consider.
You should carefully review the following in copy trading applications:
- Regulation: The broker or copy trading software you use must be licensed by the relevant authorities.
Security: Avoid copy trading apps that ask you to deposit funds as most copy trading now requires one (apart from crypto exchanges that offer copy trading). (Except when they are traders)
Top-notch Traders to Copy: The best copy trading apps include requirements for the traders available as copy traders and leaders. Such as their leverage history, risk-to-reward ratio, and trader success. Additionally, they will not allow copy traders to use more than 20x leverage.
Transparency: Copy trading apps need to provide you with all possible information about the traders you can copy. To understand their performance, you can analyze their trading approach.- Finding Successful Traders: Most social forex trading platforms make it easy to identify traders who offer the best ROI. However, you should check whether they calculate their losses against their ROI or not. And how much leverage they have offered these traders.
Is copy trading legal?
Yes, copy trading restrictions are comparable to trading regulations. But it varies depending on your jurisdiction. You don’t have to worry if your broker or exchange is regulated by the legal authorities, authorized, and legal to trade cryptocurrencies where you live.
What are the best copy trading platforms?
A list of the most important Copy Trade software is provided below:
(This is our own service and is for long term wallet development) Bityard , BingX , eToro , CoinCodeCap
What is copy trading?
You need to understand the principles of copy trading. Copy trading, as the name suggests, is simply the replication of trades. You can copy a trader’s trades into your account if you follow them. In other words, the same trades that the trader you follow opens in his account will also open in your account. Leverage and lot size are variables that you can control.
I recommend letting the trader you are following decide on leverage and lot size.
To grant access, you must generate API keys and establish a connection to the copy trading software. Please be careful to grant permission only for trading related activities; do not grant permission for withdrawal.
These days, cryptocurrency exchanges offer duplicate trading services; in these circumstances, API keys are not required.
Why copy trades?
We can learn wisdom in three different ways: first, by contemplation, which is the highest form; second, by imitation, which is the simplest; and third, by experience, which is the most painful. - Confucius
Trading is a talent that requires constant practice; it is not easy. Moreover, not everyone has the time or skills to be a successful trader. As a result, it is much easier to replicate a successful trader.
The trader you follow will earn when you earn as incentives are built in this way. It is a win-win situation because the trader you follow is working for himself.
Is copy trading profitable? Are there any risks associated with copy trading? 💲
Copy trading is effective. However, you should be very careful.
By following traders without checking their past trades, I have REKT many times. You can read about my copy trading experience.
Also keep in mind the phrase “high risk, high reward.” So, if someone is guaranteeing high returns, there must be higher risks involved.
If you are new to copy trading, you need to keep a few things in mind.
- Check traders' trading records to see who to follow.
- Give yourself three portions of money. Choose different traders for each of these: a small portion for high-risk trading, another portion for medium-risk trading, and a good position for a low-risk portfolio development method.
- Once you get to know the trading style of the trader you follow, start small and gradually increase your stake.
- Avoid traders who use leverage greater than 10x.
- You cannot afford to lose money if you invest.
- You can use our in-house copy trading system to build your portfolio for the long term .
What is the difference between mirror trading, social trading and copy trading?
Brief details and key differences between the three trading platforms are provided below:
Online commerce
By imitating more seasoned traders, social trading allows novice traders to pick up tips and make investments. Most of these systems include social media-like elements that facilitate a sense of community.
You can talk to other traders, share your technical analysis, and leave comments on other traders' posts as you participate in binary options social trading.
Copy trading
A program called Copy Trading is primarily concerned with enabling basic trading functions rather than community interaction.
It offers futures and margin trading for markets including forex, cryptocurrencies, and stocks and offers in-depth trader research. The majority of copy trading platforms focus on providing tools to automate trading for their technologies.
Borrowing trade
With mirror trading, you can mix the methods and strategies used by top traders. Therefore, mirror trading provides more accurate and consistent trading indicators. For investors who want to learn everything about forex trading, they are ideal.
Who are some trustworthy traders on eToro? 🚀
Jeppe Kirk Bonde (jeppekirkbonde.etoro.com):
Since January 2017, Olivier Danvel (etoro.com/people/olivierdanvel) has been trading mainly in forex during the green months. His target has been very consistent so far, 1% per month.
Mariano Pardo: For the fourth year in a row with returns of more than 25% (etoro.com/people/marianopardo)
Low risk score (3), excellent for 2019 according to BalanceAM (etoro.com/people/balanceam). His popularity seems to be growing nowadays
since 2014, Libor Vasa has had positive annual returns (etoro.com/people/liborvasa).
Best Copy Trading Software:
Among cryptocurrency investors who want to start earning passive income from cryptocurrencies over time, social trading is becoming increasingly popular.
Copy trading seems very tempting for novice traders who are just starting their trading career. Everything is automated, buy and sell orders are running 24/7 in the background.
The professional trader is also subject to the same rules. It makes sense to let someone else trade for you and follow their progress if you lack enough time to monitor the charts.
However, we still advise you not to follow traders carelessly and continue learning on your own. You will not have to entrust anyone else to trade for you this way, and you will learn something invaluable.
Please share this article if you find it useful. Let's promote investment in cryptocurrency markets. The future is blockchain. Yes