Crypto Copy Trading

Navigating the murky waters of cryptocurrency trading can be a daunting task, especially for those lacking experience in the crypto space. Copy trading is a great way to advance your knowledge and hone your skills before you start making trading decisions independently. The service is also suitable for adept investors as it allows them to gain exposure to the crypto markets with minimal effort and time spent on research and analysis.

Copy trading enables novices and experienced investors alike to piggyback on the success of top-performing cryptocurrency traders by effortlessly replicating their crypto trades with just a few clicks. Numerous brokers and exchanges now offer this service, assisting crypto traders across the board in achieving their financial goals. In this article, BestBrokers walks you through the ins and outs of crypto copy trading and provides an unbiased ranking of the best brokers and exchanges offering this service.

1Fusion Markets

Rating: 4.9 ⭐

74-89% of retail CFD accounts lose money

Top Rated

2FP Markets

Rating: 4.8 ⭐

73.85% of retail investor accounts lose money

3Pepperstone

Rating: 4.7 ⭐

75.5% of retail investor accounts lose money

4eToro

Rating: 4.2 ⭐

51% of retail investor accounts lose money

5PrimeXBT

Rating: 4.2 ⭐

Trading leveraged products carries a high level of risk

Below you can read short reviews of five trading platforms that we consider to be the most suitable for crypto copy trading.

Best Brokers for Crypto Copy Trading

1. TRADE NOW READ REVIEW
   1. eToro

   Our extensive research indicated that eToro ranks as the best broker for crypto copy trading, boasting over a decade of market experience and more than 30 million satisfied customers worldwide. A pioneer in this field, the broker has been offering copy trading services since 2010, when it launched its CopyTrader functionality. Over a hundred cryptocurrencies are available for automatic copying on eToro’s reliable platform, including high-volume options like Ethereum, Bitcoin, Litecoin, and Solana.

   It doubles as a social trading platform where users can exchange ideas, ask questions, join discussions, and more. Crypto copiers can choose from thousands of vetted investors with proven track records and have the option to copy as many as 100 signal providers simultaneously. The broker charges no additional fees for copy trading. Positions replicated via eToro’s proprietary CopyTrader incur the same swap fees and spreads as regular trades.

   Becoming a signal provider yourself is also an option if you wish to earn passively from performance fees via eToro’s Popular Investor Program. New crypto copiers must deposit at least $200 to get started, with a minimum amount of $1 per single copied position. Testing eToro’s CopyTrader is possible risk-free via free demo accounts loaded with $100,000 in virtual money.

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% 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.
2. TRADE NOW READ REVIEW
   2. PrimeXBT

   Established in 2018, PrimeXBT is a global brokerage catering to over one million traders from more than 150 countries. Narrow spreads, high liquidity, and innovative trading tools enable customers to gain the upper hand when trading the volatile cryptocurrency markets at PrimeXBT. The brokerage offers over 35 tradable cryptocurrencies and delivers superior crypto copy trading services, allowing customers to follow seasoned signal providers, replicate their trades, and profit from their expertise.

   Followers at PrimeXBT are eligible for a share of up to 75% of the profits their chosen signal providers generate. Various copy trading strategies are available for BTC, ETH, COV, USDC, and USDT. Customers confident in their skills can devise crypto strategies for others to copy. Signal providers on PrimeXBT get to pocket up to 20% of all profits they generate on behalf of their followers.

   Followers and signal providers can better control risk with advanced tools, including take-profit and stop-loss orders. Trading fees on cryptocurrency positions are as low as 0.05%, further increasing the appeal of PrimeXBT. The broker provides a choice from a dedicated crypto wallet, CFD, and crypto futures trading accounts, allowing customers to deposit directly in Bitcoin, Tether, Ethereum, or USD Coin.

   Risk warning: Before engaging with this website and the services made available through it, you should read all relevant Terms & Conditions, policies, and accompanying documentation which govern the Terms of Use of all PrimeXBT products and services. Crypto Futures and CFDs products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. These products are not suitable for all investors. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. Virtual Assets are volatile and their value may fluctuate, which can lead to potential gains or significant losses. Returns or profits may be subject to capital gains tax. If you do not understand the risks involved, or if you have any questions regarding the PrimeXBT products, you should seek independent financial and/or legal advice if necessary.
3. TRADE NOW READ REVIEW
   3. FP Markets

   Launched in 2005, FP Markets is a popular option for crypto traders seeking narrower spreads and competitive trading conditions. The global CFD brokerage added copy trading to its product lineup in 2021, allowing customers to piggyback from the know-how of experienced investors with long track records of profitability. Customers can choose from several high-volume cryptocurrencies, including Ethereum, Bitcoin, Ripple, and Litecoin.

   To start copy trading, clients must sign into FP Market’s social trading platform using their MT4 or MT5 credentials. They can follow an unlimited number of signal providers, facing a versatile range of trading systems and strategies to copy. Copy traders at FP Markets will benefit from deep liquidity, minimal slippage, and excellent order execution speed.

   The ASIC and CySEC-licensed broker enables copy traders to filter signal providers based on trading volume, total profits, rating, or minimum joining balance. It gives customers greater flexibility and makes crypto copy trading accessible to traders at all levels. FP Markets has a minimum deposit requirement of $50, but demo accounts are also available to customers looking to test the broker risk-free.

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.92% 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.
4. TRADE NOW READ REVIEW
   4. Fusion Markets

   Fusion Markets is the right fit for traders insisting on tight spreads and no commissions on crypto trades. The Australia-based brand has been widely acclaimed as the best discount broker in the industry, offering low spreads for 13 cryptocurrencies, including Bitcoin, Solana, Ethereum, Polkadot, and Stellar. Crypto traders can go long and short commission-free, with spreads for some of the available cryptocurrencies starting at zero pips.

   Copy trading is also an option for customers of Fusion Markets via the broker’s proprietary Fusion+ platform and DupliTrade. Fusion+ is intended for forex and metals only, so we recommend you go for DupliTrade, which enables you to copy a broader range of assets, including cryptocurrencies. The platform follows strict vetting procedures for signal providers and has an intuitive interface that renders copy trending a breeze for users of all experience levels.

   Crypto traders can increase their position size with maximum leverage of 1:10 if they sign up through the Vanuatu or Seychelles domains. Fusion Markets has a lower leverage cap of 1:2 for retail customers registered through its ASIC-regulated domain. The broker embraces all clients regardless of their budget and has no requirements on their minimum starting balance.

   Gleneagle Asset Management Limited (ABN 29 103 162 278) trading as Fusion Markets, is the issuer of the Fusion Markets Products described in this communication. Trading in Fusion Markets Products involves the potential for profit as well as the risk of loss which may vastly exceed the amount of your initial deposit and is not suitable for all investors. You should read all of these Financial Product Service Terms, the Product Disclosure Statement (PDS) and the Financial Services Guide (available on our website) carefully, consider your own financial situation, needs and objectives for investing in these Fusion Markets Products and obtain independent financial advice.
5. TRADE NOW READ REVIEW
   5. Pepperstone

   Thousands of traders from over 160 countries have chosen Pepperstone where they benefit from superior trading conditions, low spreads, and a rich selection of tradable assets, including over 20 cryptocurrencies and altcoins. From high-volume options like Bitcoin and Ethereum to emerging tokens like Compound, Glimmer, and Kusama, Pepperstone has plenty to offer to all cryptocurrency enthusiasts.

   Customers can gain additional exposure to the crypto markets by speculating on the price fluctuations of three crypto indices, Crypto10, Crypto20, and Crypto30. The acclaimed broker facilitates copy trading via robust platforms like MetaTrader, Signal Start, and DupliTrade. A proprietary app called “Copy Trading by Pepperstone”, created in partnership with Pelican Exchange, is available to mobile users.

   Clients who opt for the proprietary copy trading platform may incur performance fees of up to 50%, depending on which signal providers they follow and copy. This applies to profits generated over the high-water mark. Pepperstone imposes no minimum deposit requirements on customers looking to start crypto copy trading. They can fund their accounts via Visa, Mastercard, PayPal, domestic and international bank transfers.

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.5% 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.

Comprehensive Comparison of the Top 5 Crypto Copy Trading Brokers

Best Exchanges for Crypto Copy Trading

1. Binance

   Binance emerges as one of the best crypto exchanges worldwide based on features, costs, and range of tradable coins. The multi-regulated exchange facilitates buying, selling, swapping, and storing over 500 cryptocurrencies and tokens in a highly secure self-custody wallet that gives users ultimate control over their digital assets. Spot, margin, options, and futures trading with cryptocurrencies are also available at Binance, whose customers can take advantage of maximum leverage of up to 1:50.

   On top of this, Binance provides seamless copy trading services for futures and spots where customers can replicate real-time trades of seasoned “lead” traders on the spot. Lead traders with their futures positions copied are eligible for a 30% profit share on top of a 10% commission rebate. Lead spot traders will benefit from an Elite Trader program.

   Copiers can conveniently filter lead traders based on timeframe, Sharpe-ratio, return on investment, and maximum drawdown, among other criteria. Mock trading is an option for crypto novices, allowing them to practice by simulating actual copy trading without risking any funds. Copy trading is affordable at Binance as it requires an initial deposit of 10 or 100 USDT, depending on whether you select fixed-amount or fixed-ratio mode.

2. OKX

   Launched in 2017, OKX is a global cryptocurrency exchange reaching north of 50 million customers from over 100 countries. It provides innovative crypto trading and storage services at a low cost, allowing users to invest in more than 150 cryptocurrencies and altcoins. Depending on their preferences, customers can safely store their purchased coins in custodial or non-custodial DeFi wallets protected by first-class security protocols.

   The exchange caters to advanced and novice traders with an intuitive platform with great features and incentives. Copy trading is also available at OKX, enabling copiers to effortlessly replicate the futures and spot trades of seasoned crypto investors. The copy trading service currently supports around 114 crypto pairs, but OKX plans on gradually expanding its selection.

   Lead traders are eligible for a profit share ranging from 8% to 13%, depending on the volume of the assets they manage within 90 days. To qualify as ‘basic’ lead traders, customers must have at least 500 USDT in their account and no fewer than 100 copiers for seven consecutive days. Passing identity verification is another prerequisite for becoming a lead trader. On the downside, the copy trading service is unavailable in some regions, including Bulgaria, Canada, Singapore, the US, Malaysia, and Hong Kong.

3. Bybit

   Bybit is a popular cryptocurrency exchange servicing more than 37 million users from over 160 countries. Regulated in Cyprus and Dubai, the exchange is a viable choice for crypto traders insisting on security since it has never been hacked or lost customer funds, unlike some of its competitors. It also has proof of reserves and backs client assets at a 1:1 ratio.

   Apart from robust security, Bybit offers competitive fees and an outstanding selection of over 1,300 cryptocurrencies available for buying, selling, exchanging, and holding in a custodial wallet. Other key features this platform has to offer include usability, flexible leverage, generous staking rewards, and responsive customer support.

   Bybit provides intuitive copy trading services used by over 897,000 copiers and 126,000 lead traders worldwide. Copiers can browse lead traders by return on investment, balance, profits, country, and drawdown. Separate leaderboards are available for copiers and lead traders. Copiers can start replicating the trades of top crypto investors with as little as 50 USDT and follow up to 10 lead traders simultaneously. Profit sharing rates at Bybit range from 10% to 15%, depending on the lead trader’s rank (Cadet, Bronze, Silver, Gold).

4. Gate.io

   Gate.io is a leading multi-regulated cryptocurrency exchange that handles over 2.33 billion US dollars in transactions. More than 16 million users worldwide trade with Gate.io, where they enjoy enhanced transparency, competitive trading fees, and a vast selection of markets for over 2,100 listed digital assets.

   Apart from buying, selling, and swapping cryptocurrencies, Gate.io offers varied options for spot, margin, and futures trading. Automated trading with bots is also an option for Gate.io users, and the same goes for copy trading with futures and spots. The exchange has a neatly organized library of signal providers, allowing copiers to browse lead traders by performance, profits, AUM, and Sharpe ratio.

   Two modes of copy trading are available – simple and advanced. Lead traders must have at least 300 USDT in their accounts to qualify as such and are eligible for collecting a profit share ranging from 10% to 20% for copied futures trades. The precise profit-share percentage depends on the number of copiers following a given lead trader. You need at least 50 followers for a 10% cut of the profits. Profit shares for copied spot trades range from 8% to 16%.

5. MEXC

   MEXC is a high-performance crypto exchange with a daily trading volume exceeding 1.21 billion US dollars. The exchange launched in 2018 and offers over 2,700 crypto coins, available for buying, selling, swapping, and holding in a highly secure wallet. Maker/taker fees drop as low as 0% on futures and spots, depending on one’s trading volume.

   Customers can earn passive income by joining over 10,000 copiers and signal providers subscribed to MEXC’s copy trading service. It involves no additional charges except the standard trading fees imposed by the exchange. To get started, you must register, transfer some funds to your spot trading account, and enter an allocated amount, along with your preferred copy trading mode.

   You can start copying positions with as little as 5 USDT, although the exchange recommends an initial amount of at least 50 USDT for a better copy trading experience. This low entry barrier renders the service accessible for traders at all levels of experience. Profit share ratios range from 1% to 15% for lead traders. Lead traders cannot follow and copy other signal providers. Customers must choose to act either as copiers or lead traders. Copiers can follow as many lead traders as they wish.

What is Crypto Copy Trading?

Copy trading is an increasingly popular service offered by many reputable crypto brokerages and exchanges. Available since 2005, copy trading poses a viable alternative for individuals who cannot commit to crypto trading due to lack of expertise or time. With copy trading, you select experienced traders to follow based on their past performance, risk tolerance, market preferences, or trading strategies. The traders you follow are known as signal providers, lead or master traders.

Once you select lead traders to follow, you must allocate a portion of your available balance for them to trade crypto on your behalf. The crypto trades executed by your chosen signal providers are replicated in your own portfolio and you collect a cut of the profits generated by the lead traders. Copiers can typically manage their risk with the help of take-profit and stop-loss orders, among other useful risk-management tools. If dissatisfied with the lead trader’s performance, copiers can unfollow them at any time.

Unfollowing a lead trader normally results in the automatic closure of all opened copied trades at current market prices. Signal providers charge followers flat monthly commissions in exchange for their services and sometimes benefit from exclusive rebates on their own transactions. All in all, copy trading enables crypto novices to leverage the expertise of seasoned crypto traders. It also works to the benefit of individuals looking to earn passive income without spending time on crypto market analysis and research.

Copy Trading vs. Social Trading

Social and copy trading are similar because they both involve following seasoned investors and possibly replicating their cryptocurrency positions in your portfolio. One key difference is that social trading borrows some aspects of social media platforms, adding an element of interaction between signal providers and their followers.

There is a greater emphasis on learning and exchanging insights as social trading networks enable traders to communicate, partake in discussions, analyze market trends, and share strategies and ideas. Many social trading platforms allow users to follow, like, and comment on each other’s feeds, much like social media.

This increased interaction considerably reduces the learning curve for inexperienced traders and enables them to broaden their knowledge of the crypto markets. Observing the positions other crypto traders take assists less experienced individuals in making better-informed investment decisions.

What is Mock Crypto Trading?

As you have perhaps noticed, some of the top-ranking crypto exchanges recommended on this page offer mock copy trading, with Binance serving as a notable example. The feature enables customers to get a taste of copy trading without allocating real money to their signal providers. The process is similar to trading through a demo account as you receive a fixed amount in virtual funds to mirror or “mock” the positions of seasoned lead traders.

There is usually a cap on the maximum number of signal providers mock traders can copy using virtual credits. Intended primarily for educational purposes, mock copy trading allows unversed crypto novices to explore different trading strategies without risking real money.

This way, they can see how their strategies of interest would perform in real market conditions without worrying about suffering any financial losses. Users can cease mock copy trading whenever they like. When they turn off the feature, the system will automatically show them their final return on investment (ROI) and unrealized profit and loss (PNL) rates, based on their initial virtual capital.

Automated Copy Trading with Bots

Some crypto exchanges like our fourth pick, Gate.io, facilitate automated copy trading with bots. Lead traders using this service can create custom bots to execute automated trading strategies in the cryptocurrency market. They then publish their unique creations in a collective bot pool for others to buy and copy. Bot creators earn passive income from the sales of their trading bots.

The service enables users to replicate only select strategies rather than the entire portfolios of their chosen signal providers. Copiers can start using their purchased bots immediately or run them whenever they like. Buying a bot is normally a one-time purchase, eliminating the necessity of sharing your profits with lead traders.

Common bot types used in crypto copy trading include Smart Rebalance, Spot/Futures Grid, and Spot/Futures Martingale. Bot users can better control their risk by setting up take-profit and stop-loss orders that align with their risk tolerance, budget, and investment goals. The main advantages associated with this approach are user-friendliness, enhanced flexibility, and reduced trading costs.

Fees Charged for Crypto Copy Trading

Copy traders can anticipate several types of charges when replicating the trades of experienced investors, starting with the performance fees (profit-sharing fees) charged by signal providers. Performance fees are percentage-based and are set by the lead traders copiers follow. Often deducted on a monthly basis, performance fees apply to the total net profits signal providers generate on their copiers’ behalf.

Let’s assume you allocate $1,000 to a lead trader and their trades generate $400 in net profits within a month. If the trader has set their performance fee at 20%, you will incur a charge of $80 for their services and pocket the remaining amount ($320). Performance fees are normally based on the high-water mark concept and apply to the highest profit lead traders have achieved over a given period.

It aligns the interests of copiers and signal providers, preventing the former from paying twice for the same performance. With this concept, copiers pay no performance fees if their lead traders realize lower profits compared to the previous month. Respectively, if a copy trading account suffers losses, the copier does not pay a performance fee. The table below demonstrates how the concept of high-water mark performance fees works.

Some exchanges like Binance have adopted weekly rather than monthly profit settlement cycles. Also, lead traders sometimes benefit from rebates in the form of percentage-based commissions deducted from the trading fees paid by their copiers. Many exchanges and brokerages impose no additional charges for their copy trading services. Only trading fees, spreads, and overnight fees are in place in such cases, same as with regular trades.

Spreads represent the difference between the current market price for a given cryptocurrency and the price a trader buys or sells it at. Overnight fees apply when traders hold leveraged crypto positions overnight and vary depending on whether you are short or long. Crypto exchanges charge maker and taker fees to cover their transaction costs.

Maker fees apply to limit orders for cryptocurrency trades that are not executed immediately, thus improving market liquidity. Orders filled immediately incur taker fees, which are slightly higher than maker fees because they take away from the market’s liquidity.

How to Pick Crypto Traders to Copy or Mock Copy?

While copy trading undoubtedly renders the crypto market more accessible to the average Joe, you must still do your homework when selecting lead traders to follow and copy. Choosing wisely could prove vital for your success as a copy trader. Multiple factors bear consideration but the ones listed below carry the greatest weight.

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Past performance is worth checking, although not necessarily indicative of future results. Regardless, copiers should opt for lead traders who have consistently demonstrated positive results over extended periods (one to three months or more).

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Assets under management (AUM) is a metric worth considering since it reflects the cumulative value of the trades managed by a given signal provider. Higher AUM volumes indicate higher levels of trust and confidence from fellow copiers and vice versa. Traders with more substantial amounts under management are typically more profitable and tend to have more followers.

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Profit and loss (PnL) is self-explanatory as it signifies the fluctuations in the value of lead traders’ positions over a given period, usually a week. PnL is easy to calculate. You subtract the value for the previous week from the value of the current week. For example, if your lead trader’s positions were worth $1,200 a week earlier but are currently at $1,000, their PnL would be -$200, representing a loss.

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Return on investment (ROI) is an important metric that measures the profitability of a given lead trader’s portfolio, indicating their performance over a specific period. Copy trading platforms list ROI as a percentage. The higher it is, the more successful a given lead trader is. To calculate ROI, you must divide the net profits by the cost of your investments and multiply the result by 100 to convert it into a percentage.

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Maximum drawdown is another factor copiers should pay attention to, as it could indicate volatility. It measures the steepest decline a lead trader’s portfolio has suffered, reflecting the difference from the highest peak to the lowest trough in the portfolio value.

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Performance fees are worth considering since they directly impact a copier’s bottom line. Check and compare the charges across different signal providers to identify the ones with the lowest charges. Some lead traders charge their copiers as much as 50%, while others collect a 10% cut of copiers’ net profits, sometimes even less.

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A signal provider’s style and trading strategies must align with your bankroll, risk appetite, and investment goals. Some signal providers focus on long-term profitability and low-frequency trading, adopting a more conservative approach. Others are more aggressive and pursue short-term profits through high-frequency trading strategies like scalping.

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Can Crypto Copy Trading be Profitable?

Copy trading can be a profitable venture provided one selects lead traders smartly based on the factors we previously enumerated. The approach of your chosen lead traders should align with your own goals and risk tolerance.The bottom line is it all depends on who you follow and copy. It bears repeating that trading always involves a certain amount of risk, especially for those who copy derivative CFD positions with excessive leverage.

Copiers should not forget that the past performance of signal providers is by no means indicative of the future results they will yield. Even the best crypto trading strategy could fail. Following a lead trader who has achieved impressive profits during any given period does not necessarily mean they would continue delivering outsized returns.

The cryptocurrency market can be extremely volatile and unpredictable, especially when one lacks sufficient expertise. Copiers should remember that digital asset prices can fluctuate dramatically due to changes in supply and demand, regulatory announcements, and negative media coverage.

Pros and Cons of Crypto Copy Trading

Pros of Crypto Copy Trading

• Reduces the learning curve for inexperienced crypto traders
• Saves traders time on crypto market research and analysis
• Allows traders to earn passive income without actively trading themselves
• Makes the crypto markets accessible to traders at all levels of experience
• Signal providers can earn extra by collecting performance fees from their followers.

Cons of Crypto Copy Trading

• Strong past performance of signal providers does not guarantee good future results.
• Performance fees may be quite steep in some cases.
• Account setup and funds allocation require a certain amount of time.
• Copiers relinquish control of their trades.
• Market volatility can lead to discrepancies in the performance of lead traders and copiers.