We found 11 online brokers that are appropriate for Trading Copy Brokers.
There have been many tempting stories coming from the self-proclaimed successful traders who used copy trading as their main strategy when trading on financial markets.
If you have been around trading for a while, there is a chance you have heard about it too.
Is it legal? But before going further, we need to understand what copy trading is.
Copy trading is the strategy of investing or trading wherein the trader automatically copies the trades activities of other successful traders.
In the copy trading platform, the brokerage usually posts the information about the successful traders so that the users can copy the trading automatically and replicate the success of the users.
The users or traders whose trading is copied is called a signal provider. These users are a part of anonline trading brokerage community.
Actually, copy trading is not a new thing. It has been around since 2005. Back then, the first platform which introduced this strategy was Tradency. However, back then it was still Mirror Trading.
The original copy trading software which automatically runs was developed by the Fintech firm called ZuluTrade. They introduced this copy trading back in 2007. However, the popularity of copy trading rose significantly because of the eToro platform in 2010.
Both ZuluTrade and eToro have been dominating the world with their resilient copy trading offers.
Nowadays, copy trading practices have become more common amongst the sole traders.
The participants of the trading brokerage can view the statistics on other traders and determine the copy by their decision.
As the trader, you will have the freedom to choose which trader strategy you will want to copy.
In common cases, you will be able to see the signal providers statistics and performance in their profile.
The variables to see are the trading history, average ratings, total profits, trades to date, percentage of winning, average profit, best and worst trade, followers number, leaderboard ranking, and so on.
These statistics will help you to decide whether or not to copy the strategies of the brokers.
Now, lets get down to the meat of the article.
As others might have also been wondering: is it legal?
First things first, lets talk about its legitimacy.
For many traders, copy trading might seem unethical. But some people who want to make the profits might also think that it is too good to be true.
There must be a catch, right? Obviously! If we are talking about the trading opportunity, all financial instruments and strategies should also come with certain risks.
Although you copy from the most successful traders, theres still a chance to lose your money somehow. The profits are not guaranteed. Every unpredictable thing can happen in the financial markets and most of the time we can not avoid it.
If you are questioning about the copy trading legitimacy, you can rest assured that it is legit. But you will want to make sure that you are working with the trustworthy copy trading platforms which have good fee structures and incredible services.
If we are talking about the legality, then YES it is completely legal, although there are restrictions in some countries.
It is also crucial to know that not all online trading brokerages can legally offer copy trading services for their clients.
Beware some trading brokerages operate copy trade platforms without a license.
Make sure that the trading brokerages you choose for copy trading have licenses which are regulated by your government or a major European country like the UK or Germany.
There are some regulatory authorities which can authorize the copy trading brokerages such as FCA, CySEC, SEC, CFTC, and so on.
Each country might have different regulatory authorities. The reason why you must see their licenses is to protect you from getting scammed or frauded.
The regulatory authorities which we mentioned above are highly reputable. They will not let the self-proclaimed brokerages slide easily if there is any violation or mishap.
So, it does not hurt to seek the licensed brokerage for copy trading which has the licenses issued by these authorities.
Copy trading has an enormous number of perks. The copy trading is a simple system for the traders with less to zero experience.
If you have just started, copy trading can be one of the best choices for you to make good money from trading.
Instead of learning how to trade and spend hours for it, you could select the signal provider and copy their successful trading strategy. You can sit back after copying the trading.
It is also a great way to make passive income. The signal provider will help you to grow your capital. And the best of it, you do not even need to put a lot of effort in it.
Do understand that as with any investment you may lose money as well as profit. Educate yourself and be aware of the risks.
We've collected thousands of datapoints and written a guide to help you find the best Is Copy Trading Legal for you. Our aim is that this information helps you choose a trustworthy, reputable and professional broker who can satisfy your trading needs online. We have compiled a list of what we consider the best Copy Trading Brokers below.
There are a number of important factors to consider when picking an online Copy Trading Brokers trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Copy Trading Brokers.
Compare Copy Trading Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Copy Trading Brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Copy Trading Brokers that accept Copy Trading Brokers clients
Broker |
IC Markets
![]() |
eToro
![]() |
AvaTrade
![]() |
Pepperstone
![]() |
Axitrader
![]() |
forexmart
![]() |
phoenixmarkets
![]() |
ezinvest
![]() |
FXPrimus
![]() |
ovalx
![]() |
coinbase
![]() |
Rating | |||||||||||
Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Dubai Financial Services Authority (DFSA) | Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA) |
Min Deposit | 200 | 10 | 100 | 200 | No minimum deposit | 1 | 500 | 500 | 100 | 100 | 100 |
Funding |
|
|
|
|
|
|
|
|
|
|
|
Used By | 180,000+ | 27,000,000+ | 300,000+ | 89,000+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ |
Benefits |
|
|
|
|
|
|
|
|
|
|
|
Accounts |
|
|
|
|
|
|
|
|
|
|
|
Platforms | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, Mac, ZuluTrade, Web Trader, Tablet & Mobile apps | MT4,WEB,desktop | MT4,mac,Android.iPhone/iPad | MT4,mac,Android.iPhone/iPad | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Binary, Tablet & Mobile apps | iPhone/iPad,iOS, |
Support |
|
|
|
|
|
|
|
|
|
|
|
Learn More |
Sign
Up with icmarkets |
Sign
Up with etoro |
Sign
Up with avatrade |
Sign
Up with pepperstone |
Sign
Up with axitrader |
Sign
Up with forexmart |
Sign
Up with phoenixmarkets |
Sign
Up with ezinvest |
Sign
Up with fxprimus |
Sign
Up with ovalx |
Sign
Up with coinbase |
Risk Warning | Losses can exceed deposits | 78% of retail investor accounts lose money when trading CFDs with this provider. | 71% of retail investor accounts lose money when trading CFDs with this provider | 74-89 % of retail investor accounts lose money when trading CFDs | Losses can exceed deposits | Your capital is at risk | Your capital is at risk | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk |
Demo |
IC Markets Demo |
eToro Demo |
AvaTrade Demo |
Pepperstone Demo |
Axitrader Demo |
ForexMart Demo |
Phoenix Markets Demo |
EZINVEST Demo |
FXPrimus Demo |
Ovalx Demo |
Coinbase Demo |
Excluded Countries | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, PY, HN, GT, PR, NI, VG, AN, | BE, BR, KP, NZ, TR, US, CA, SG | AF, AS, AQ, AR, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, UY, VU, VG, EH, YE, ZW | US, JP | RU | BE, CA, IR, JP, KP, US, BA, ET, IQ, UG, VU, YE, AF, LA, TR, SY, IL | BE, CA, IR, JP, KP, US, BA, ET, IQ, UG, VU, YE, AF, LA, TR, SY, IL | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. | US, BE, CA , SG, BE | RU |
You can compare Copy Trading Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Copy Trading Brokers for 2022 article further below. You can see it now by clicking here
We have listed top Copy Trading Brokers below.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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 is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.