12 Best Crypto Copy Trading Platforms & Apps In 2022

Investors can add or remove funds to and from their Copy Trading Accounts at any time while copying the strategies. All the actual deposits and withdrawals take place on the Investor’s trading account under his cTID. Strategy – aggregated actions of a trader provided for copying to Investors under certain conditions. Do share this blog post with anyone you know that’s planning on getting into copy trading and allow them to find everything they may need to take the leap in one single blog post.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Even experienced traders are unlikely to have specialist knowledge of all the different assets and niche investments that are available to online traders. Copy trading allows you to identify the experts and learn from their investments.The process comes with its own risk management tools, specifically “Stop Loss”.

IX Social is worth a shot as it has a slight upper hand as it has more social elements than its competitors as well as it has a reputed broker backing its copy trading activity. A copy trading platform would connect a trader with a strategy with an individual that is looking to copy trades. He then lands on a copy trading platform where he can search for traders with a strategy, like Trader A, and can take the exact same trades. You need to research before signing up for any trader’s strategy and start copy trading. The reality is that if you want to do well with your cryptocurrency investments, you’ve got to know a lot about the market, and what it’s doing. Pionex and eToro both have really reliable, high-quality apps that you can download, and the download process is really easy.

  • EToro is definitely the best crypto copy trading website if you are a beginner in the industry, because they are simple and easy to use.
  • These individuals are in return paying the traders for availing their service.
  • 78% of retail investor accounts lose money when trading CFDs with this provider.
  • This means that you need to have advanced knowledge of technical analysis.
  • Yes, there is always the reality that you’ve got to start somewhere, but at the end of the day, if you want to make really profitable trades, you’ve got to work with a crypto copy trading platform that has a lot of advanced features.

You can decide in advance what is an acceptable level of loss for any particular trader you copy and set your account to automatically close the copy trade if that level is exceeded. The “Stop Loss” tool takes away the need to continually monitor your copy trades. 77% of retail investor accounts lose money when trading CFDs with this provider.

Signing Up On Ix Social

Step 3 – You will then get a short questionnaire that has to be filled before you move forward. It consists of basic questions regarding your trading experience and goals. IX Social is a copy trading platform developed by INFINOX Capital, which is a reputed and regulated FX and CFD broker. These platforms are not listed in a serial order indicating the best or worst.

How does Copy Trading Work

Now, there are individuals that blindly choose the markets they are to copy trade in. If you make decisions based on research then you take control of your decision and you will automatically gain confidence. There are several copy trading platforms and we have also mentioned a few.

The first forms of digital copy trading were referred to as mirror trading. They were popular because they allowed anyone to exploit the expertise of a successful investor with zero effort. Today, mirror trading refers to copying another trader’s strategy, rather than copying their exact moves. Either way, attaching all or part of your portfolio to a successful investor could be a way to ride the coattails of a profitable trader without having to put in any extra effort. If this sounds interesting to you, read this in-depth guide to copy trading to find out more.

Practice Additional Risk Management

Of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance of a NAGA community member is not a reliable indicator of his future performance. Content on NAGA’s social trading platform is generated by the members of its community and does not contain advice or recommendations by or on behalf of NAGA.

If you already have a trading account with a broker and have signed up on IX Social as well, you link both accounts through the IX Social app. But lucky for you, we have shortlisted the best platforms that you can sign up on and start copying trades. Consider Trader A with a trading strategy for a particular financial asset.

OctaFX upgrades Copytrading: multiply orders and protect funds from volatility – FinanceFeeds

OctaFX upgrades Copytrading: multiply orders and protect funds from volatility.

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Perhaps your trades are not panning out how you had hoped, or your overall returns are simply not as high as you were expecting. Copy trading is an increasingly popular service offered by brokers which allows you to automatically copy all of the trading activity What Is a Copy Trading Platform and How It Work of another trader. Strategy Provider – a trader who provides his trading strategy for copying by other traders. Investor – a trader who allocates a certain amount of funds from his trading account for copying a strategy under certain conditions .

It all boils down to what you are looking for and what you have planned for. You just have to scroll down on your account page on the IX Social app and have to click on the Link an account button. Before you finalize your decision you have to fill a suitability form that checks whether the objectives of the trader you have https://xcritical.com/ chosen match with your objectives. After completing these steps you are officially a part of the IX Social community and can use the platform seamlessly. I believe that by now you have a fair idea about this activity of copy trading and you are still reading because you want to participate in this activity of copy trading.

Get The Medium App

They have 16 free trading bots that are built into their software, so all you have to do is share your email address with them, and you can benefit from their automated software, and you don’t have to part with a penny. If you’re ready to start copy trading today, you’ll need a forex broker you can trust. Make sure to consult our in-depth forex broker reviews to learn more about the best and most trustworthyUS brokersfor copy trading in 2021 and beyond.

How does Copy Trading Work

Choosing the best copy trading platform is going to depend on your needs as a trader, and how much you’re wanting to invest in copy trading in general. The majority of platforms out there were going to charge fees on every position open or closed, but you also need to make sure that you aren’t running into any hidden fees, which aren’t getting explained to you before you sign up for anything. Again, you need to make sure that you are copying your strategy from a trader who has a good success rate, as well as a strong trading performance. Obviously, this means that if you have connected your portfolio to a seasoned trader, who is known for being successful, you could end up being successful as well. The more successful the strategies that you are copying, the more profit you’re going to make while you are away from your computer.

What Is The Role Of A Copy Trading Platform?

Let’s assume for instance that you already knew about copy trading, signed up on a copy trading platform, chose a trader to copy, and have started copy trading full-fledged. I cannot press enough on the importance of having your priorities set right. You should know one thing that you have plenty of options, there are literally hundreds and thousands of traders on the copy trading platforms. You can connect your trading account along with the IX Social account you have set up. If you do not have a trading account then you can always open one with INFINOX.

Trading is a serious business of making small profits in the short term and compounding it in the long term to create wealth. It is noticed that the individuals that participate in copy trading as doing so blindly i.e. they are actively participating in this activity. We cannot control the way the market behaves, but we can always control the risk we are to be exposed to in the markets.

EToro is an extremely original and functional crypto trading platform that has some of the most advanced social trading features in the industry. Today, we’re going to talk all about copy trading, and why you might want to apply this method, and we will also go through the very best crypto copy trading platforms and apps in the industry in 2022. Intermediate and professional traders can take advantage of the ease with which a trade is made without the need for market monitoring, or choose to become signal providers and have their trades copied and grow their following. It is important to keep in mind that you can lose more than you initially invested. Forex, CFDs and Crypto trading offer exciting opportunities, but one should also keep in mind that these opportunities are accompanied with an equally high level of risk. Leverage may increase both profit and losses, and impulse trading should be kept in check.

Also, as we mentioned previously, the more diverse you are with your copying of trades, the less risk you take. Another advantage to copy trading is that you don’t need a big threshold in order to be able to get started. This means that you can get started with copy trading for as little as $200. As a result, this platform has a number of different functions and services you can make the most of, from their simple portfolio management system to a mobile app. They have apps available for both Android and iOS, and their pricing is 1% of traded capital for one month used.

If you don’t mind having large drawdowns then you can go ahead with a trader that trades in a riskier manner. If you are uncomfortable with drawdowns then you can always choose traders that trade with low risk. You can look to trade almost any financial asset on the copy trading platforms. There is no cap on the types of financial markets you can participate in or the types of financial assets that you can trade and capitalize on price movements.