Copytrade crypto.
Unlike most platforms, eToro has advanced social trading features that allow for easy interaction with many others. It is equipment with plenty of social trading tools with the ability to deeply analyze each trader and trading strategy under its Copy-trade platform. eToro is comparable to the popular LinkedIn network, allowing users to drop comments on the assets they trade, like comments, and follow other eToro traders. The platform features a News Feed button similar to a news feed on any social network.
Copy trading is covered under eToro’s CopyTrader umbrella. It’s a more passive style of trading. This feature allows investors to enter into crypto positions of other verified traders automatically. CopyTrader is quite beneficial to beginners who know little about the market but want to analyze the trading strategy of other traders and also profit from it. Once it's set up, the trader benefits once the investor profits. There's a $200 minimum to copy trade on eToro. eToro allows traders to diversify their portfolios across top-performing industries or sectors through its CopyPortfolio feature. The in-house asset management functionality automatically rebalances an investor's investment basket to generate the highest possible yield.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
A strong attractor to the eToro platform is its ease of use. The platform is highly user-friendly compared to other platforms and traders can get started in as little as 10 minutes. As for the minimum investment, US and crypto copy trading platforms UK investors can get started with as little as $10. There is also the unique option to practice copy-trading using the cryptocurrency demo account.
Fees are charged at a 1% commission above the bid or ask price. Besides this, eToro does not charge for copy-trading others. Deposits are free, and traders can fund their accounts with multiple payment solutions, including a bank wire transfer, credit/debit card, PayPal, Skrill, and Neteller. Overall, eToro is our top crypto copy trading platform that is undoubtedly the most popular due to its robust regulation and wide range of crypto products. For more information on eToro's social platform and features, read our full review or visit the eToro website.
Large social trading network Sufficient research on each trader No fees on social trading feature Offers CopyPortfolio and CopyTrader Low trading fees.
There is a $200 minimum deposit.
Disclaimer: 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
2. KuCoin – Best Copy Trade Platform With Crypto Bots.
KuCoin is our next best alternative to eToro on our list of the best crypto copy trading platforms. The broker ranks among the largest cryptocurrency platforms by daily trading volumes. KuCoin offers a selection of over 600 cryptocurrencies for users to buy, sell, and trade and is one of the best altcoin exchanges. The platform is home to millions of customers, providing several ways for users to profit from cryptocurrencies – including staking and lending services.
KuCoin's primary social trading feature is KuCoin S. The social and copy trading platform provides market information for traders, including new coin listings, crypto market news, trending coins, market trends, and more. It was established in October 2021. The trading platform is a hub for investors looking to access high-quality information to make better crypto copy trading decisions.
As expected, KuCoin S allows traders to share posts and insights on the market, comment on posts, and interact with other traders directly. Investors looking to buy crypto directly will also be able to do so using KuCoin S. Even better, the feature removes the need for an order type - a user can simply choose a coin, tap the "buy" button, input their passwords, and enter the purchase amount. One of the few limitations we found is the social platform is limited to the mobile app only.
KuCoin also provides copy trading services via its list of crypto trading bots. The crypto trading bots are automated trading systems with customizable strategies. The platform has a leaderboard where seasoned professionals are ranked based on their success rate and performance. Anyone can copy the trading bots and profit from them. KuCoin's copy trading bots don't have a minimum trade balance requirement. The operators of copy trading bots on the platform are free to set their parameters. Anyone can copy the trading strategy or make edits based on their preferences.
As for fees, the KuCoin copy trading bots charge based on KuCoin’s spot trading fees. Depending on an investor’s trading level and volume, fees can vary between 0.025% and 0.1% on the copy trading bots. At the same time, users can enjoy 20% discounts on fees by paying with the broker’s KCS token. In short, KuCoin is one of the cheapest copy-trade platforms for crypto. For more information on the fees, read our KuCoin review.
Simple to use crypto trading bots Low trading fees for the major crypto pairs There is no minimum trade balance Leverage off the exchange's high trading volumes and liquidity.
Possibly misleading return performances Accessible on mobile app only.
3. PrimeXBT Covesting - Best For Discounts on Copy Trading Fees.
PrimeXBT is a multi-asset broker that focuses on its crypto margin platform with a derivatives market. The broker is especially popular for providing high leverage (up to 100x) for accredited traders. Launched in 2019, PrimeXBT offers an impressive feature set - including trading, staking, and even a referral program for traders. PrimeXBT also features a peer-to-peer crypto copy trading platform via its partnership with financial software provider Covesting. PrimeXBT Covesting is a crypto social and copy trading platform where inexperienced investors can connect with successful traders. The platform has a transparent structure where traders can showcase their copy trading skills to others.
Using PrimeXBT Covesting, new traders can piggyback on the strategies of the top crypto traders on PrimeXBT. This way, the copier can profit when the experienced trader profits. The experienced trader gets a slice of the follower's profits. This copy trading differs from many of the platforms we've reviewed. For instance, experienced traders create a set of "Strategies" which others can copy. A follower can copy multiple strategies at once.
Covesting provides all the necessary data that traders need to sift through before making decisions on copy trading strategies - including rankings on parameters like profit history and risk management. Traders can also choose who to follow based on active The minimum deposit amount on PrimeXBT’s Covesting feature is 0.01 BTC or its equivalent.
As part of our review on PrimeXBT, the broker also charges a 1% entry fee for the service , while copy trading commissions start from 0.0001%. Further discounts on trading fees are available to traders who pay using the platform's COV token on PrimeXBT. This makes PrimeXBT one of the cheaper crypto copy trading platforms when the discounts are taken into account. However, there is a fee to use the copy-trade service unlike eToro which is free.
Investors can copy multiple strategies at once The interface is quite easy to use Discounts on fees for COV holders Attractive incentive structure.
PrimeXBT charges an entry fee and a commission.
4. Phemex - Copy Trading Platform For copy trading crypto exchange Crypto (Beta)
Phemex is an advanced cryptocurrency copy trading platform with over two million active users globally. The exchange has built a name for its simple user interface, ease of buying cryptocurrencies and zero-trading fees for specific crypto pairs. The platform offers several trading options for copy traders. Investors can buy their favorite cryptocurrencies via spot trading, futures, and the P2P marketplace. Traders can also fund Phemex accounts using debit/credit cards, bank wire, and crypto deposits. Phemex features some elements of social trading via its copy trading option. However, the exchange's copy trading feature has fewer features and expert traders to copy.
The copy trading page shows a list of expert traders, their followers, monthly ROI, and their total balance. Copy traders can also view their total profit and loss (P&L) and the monthly P&L. The trader's profile page shows these data in greater detail. In addition to analyzing their results, investors can also view their current positions, assets invested in, and historical trading data. This gives investors a sense of what they trade on, average returns, and much more.
One thing to note is that Phemex’s copy trading is still in its initial product launch phase. Investors can follow traders, but they can’t copy them yet. The exchange plans to enable the copy feature soon. Less than 40 professional traders are available on the copy trading feature. But, this could change in the future once the full platform has been launched.
Another drawback is the fees associated with copy trading on Phemex. Platforms like eToro allow investors to copy the trading strategy for free. Phemex charges customers an extra fee per copied trade and a 5% on profits above €10. It's unclear if Phemex’s copy trading feature would charge a fee once the product is live. While Phemex makes this list based on its reputation as a top crypto exchange, the social copy trading platform is still in its infancy, the fees are quite expensive and not allowed in the USA as identified in our Phemex review.
User-friendly Offers multiple payment methods Comes with multiple data on traders Allows copy trading for spot, futures, and more Built-in social media structure.
Possible fees in the future Copy trading is not yet live.
5. BingX - Best For Copy Trade Livestreaming Sessions.
BingX, or initially founded as Bingbon, is a Singapore-based broker for beginners and advanced traders. The broker offers access to over 250 cryptocurrencies on its platform, enabling easy crypto swaps and trades for all of the coins on its platform. Built into the BingX platform is a social copy trading network that aims to deliver "smart investing" to its customer base.
The platform’s Feed section acts as a timeline of posts and insights from traders from all over the world. Copy traders have the opportunity to post and interact with each other via an easy-to-use interface. Interestingly, the Feed section provides an opportunity for traders to post some of their current open trades - and for others to copy these trades directly. The flexibility and ease of use are quite unparalleled in the crypto industry.
We also love the fact that the profile page of each expert trader is very comprehensive. The platform gives users access to the trader's current position, ROI, assets traded, followers, win ratio and others. These details are also represented with rich data, making the page appealing to copiers. There is the option to switch from the trader's data page to their feed and toggle between their performance and updates. This is a great feature to learn and profit simultaneously.
Like eToro, for those that are not ready to try the copy trading feature with real funds, BingX has a demo account for crypto traders. The practice mode can be used to test the copy trading option that makes it an ideal pick for beginners. Moreover, there's no minimum deposit balance on BingX Copy Trading. However, there are two fees for using BingX's copy trading feature. The first is the 0.045% crypto copy trading fee and BingX also takes an 8% share of the daily net profit which is a major negative compared to other copy-trade crypto platforms. For more information on the benefits of the platform, read our full BingX review.
Includes a demo mode to test out the social crypto platform API for other exchanges to use.
No minimum balance Splits traders according to the risk profile User-friendly.
6. NAGA - Top Crypto Copy Trading Platform for Beginners.
NAGA is another multi-asset broker that provides access to the crypto space. The Germany-based exchange was founded in 2015. The platform has an active social trading network of over 1 million traders who trade and collaborate on copy trading strategies for cryptocurrencies, stocks, indices, commodities and more. Like the other crypto social trading providers in this list, NAGA's social and crypto trading platform has a simple news feed feature where investors can access market developments and insights. As expected, traders can post trade news, engage with others and share their success stories and crypto trading strategies on the news feed.
NAGA's traders have a public profile that can be updated manually by the trader. Copiers can view the trading history, performance, and other notable metrics of other users' profiles. The profile is incredibly powerful, with integrations for MetaTrader4 and MetaTrader5. Social traders can easily transfer their trade history from these platforms to NAGA to build their influence.
Autocopy is the copy trading crypto app - http://cryptocurrency.copy-trade.fun/?qa=1193/crypto-copy-trading-software-development-company-services, trading feature on NAGA that allows copiers to find a profitable crypto trading strategy and imitate the moves on the platform. Copy traders who want to replicate the trades of others have access to a leaderboard that ranks the seasoned traders on NAGA. Investors can filter top traders based on their trade assets, performance, asset under management, win rate and more. Once they find a preferred option, they can copy trades and allocate funds.
The minimum deposit for copy trading is €250. Autocopy supports all 28 cryptocurrencies on NAGA. Traders can copy an unlimited number of trading strategies and even pause trading at will to take profits. As for the copy trading fees, NAGA charges a fixed €0.99 ($0.91) per trade. It also takes an extra 5% on profits above €10.00 ($10.130) from the copied trade which is quite expensive compared to our top pick, eToro.
Regulated broker Large social trading platform with millions of traders Intuitive filtering system for finding top traders Offers multiple payment methods Straightforward pricing structure.
5% fee on profits High minimum deposit.
Coinmatics - Best For Seamless Integration with other Brokers.
Coinmatics is unlike other copy trading platforms in our comparison as it is not exactly a cryptocurrency exchange or broker. Coinmatics is a fully-fledged signals subscription service and one of the best crypto copy trading. It works by connecting to a cryptocurrency copy trading account via an API key to Coinmatics. This allows the platform to make trades on the person's behalf when initiating a copy-trade position. The downside of this approach is the number of supported exchanges that can be linked. At the time of writing, Binance can only be integrated into Coinmatics which is the biggest exchange in the world. Although, it does not give the flexibility to copy-traders that have accounts with other crypto exchanges.
Coinmatics runs a subscription model that includes a free plan with a $1,000 transaction limit. Once a trader executes orders up to $1,000, they won’t be able to copy trades from the platform which is a limitation to be aware of. The other paid options range from $15/month to $30/month. In addition to the transaction limits, Coinmatics subscription plans are also differentiated based on certain features. Such as auto alignment, prioritized copying and coin blacklist.
Coinmatics allows traders to set the parameters for anyone looking to copy their strategies. Such parameters like minimum deposits will usually depend on factors like the subscription fee, the Coinmatics plan the user is on, and the minimum deposit on the exchange connected to the user’s account. As a dedicated copy trading service, Coinmatics allow traders to copy multiple positions in a single portfolio. Copy traders can replicate positions in futures, leveraged tokens, and tokenized stocks which is a more diverse offering than other crypto social platforms.
Dedicated copy trading service Simple and easy to use Free strategies available Investors can copy multiple strategies Quick and easy sign up process.
Requires configuring third-party integration Fee structure varies.
8. ZuluTrade - Best Crypto Copy Trading Exchange with No Minimum Balance.
ZuluTrade rounds up our list of the best crypto social trading platforms available in the industry. ZuluTrade is a clever copy trading platform owned by the FINVASIA Group - an Indian fintech company headquartered in Punjab. ZuluTrade provides access to different assets - ranging from stocks, forex and contracts for difference (CFDs). Investors can only access copy trading features for 6 digital assets only using ZuluTrade.
The platform's copy trading account comes loaded with many social network elements. Traders have a profile where they can state their influence and build status on the platform via their updates and performance data. The platform has integrations with MetaTrader, which allows traders to import their trade results to boost their status on ZuluTrade.
ZuluTrade incorporates the hashtags and trends in its news feed, which enables users to search and filter through the social feed. So if an investor is looking to find specific posts related to certain topics, they could search for them in the trends section and find what they're looking for. The social feed allows investors to follow specific topics, comment on posts, request updates from traders, and view other traders’ profiles, where they can find all the necessary information to perform their due diligence. Once research shows that a reputable trader is worth copying, other users can proceed to mirror their trades.
Copy traders can access several impressive features on ZuluTrade. These include a simulator that helps traders test the efficacy of their trading strategies based on their account settings. They also have the ZuluGuard - a protection feature that safeguards traders from erratic trades and applies proper risk management to trades. ZuluTrade has no minimum trading amount for copy trading crypto.
Demo account available No minimum deposit MetaTrader4 integration Offers social feed Presence of ZuluGuard.
Low selection of coins.
Top Crypto Social Trading Exchanges Compared.
The list below compares and ranks the best crypto platforms to copy-trade and join a social community based on factors such as the supported crypto assets and fees. For more information on the individual crypto social platforms, click on the review links.
eToro.
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Archived, "Virtual currencies are highly volatile. Your capital is at risk."
KuCoin.
Prime XBT.
Phemex.
BingX.
NAGA.
Coinmatics.
ZuluTrade.
What Is Social Trading Cryptocurrency?
Social trading is a form of investing that is based on the principles of community-based input and interaction of shares. It leverages communication, exchange of knowledge, mutual help, and partnership of the traders. Social trading allows investors to learn from their experienced counterparts by observing and replicating their analyses.
Social trading platforms operate like traditional social media networks. Traders can build a profile, connect with other traders, post updates, and have meaningful conversations with others in the community. With traders able to follow each other, these crypto platforms provide a proper forum for discussions and learning. Social trading in crypto gained prominence following the launch of eToro.
What Are The Benefits of Using A Crypto Social Trading Network?
The best social trading platforms provide a community where investors can interact and monitor the activities of others. Traders can share insights and market information, enter into positions, and focus on turning a profit - together. Social trading is very beneficial to new and seasoned traders alike. It provides a possibility for beginners to enter the market with no experience. They can simply observe and replicate what successful professionals are doing.
Experienced traders also benefit from money and status, as most social crypto platforms have a leaderboard that ranks expert trades on popularity and success rate. Some exchanges also reward traders with bonuses every time their traders are copied.
How Do Social Trading Platforms Work?
A social trading platform is a place for communication and information exchange. It establishes a link between beginners and expert traders to foster discussions. A social trading platform usually has the following members:
Experienced traders: They supply signals, share most of the insights on the platform, and can contribute to the ideas of others. Users/Novice traders: They have the opportunity to learn from their seasoned counterparts to grow their skills and income in the process. Exchange/Brokers: A crypto exchange/broker ensures order execution and provides access to instruments for social trading.
Much of the social trading in the crypto space is done via cryptocurrency exchanges and brokers. Some platforms have an element of social trading, while others like eToro are built on social trading. In the case of eToro, copy traders can view each others’ profiles, post updates, learn and share ideas, and, more importantly – replicate the trades of successful traders on the platform.
Besides the learning opportunities, social trading platforms like eToro allow investors to access important trade data on their preferred markets. These details help an investor gain insights into what the market thinks about an asset before establishing a position.
Moreover, investors can also use social trading networks to gauge market sentiment. Since data about traders’ positions are public on social trading networks, it becomes easy to see what the majority are doing and factor that into an investment decision.
What Makes Social Trading Different from Regular Trading?
The primary distinction here is social trading’s focus on community-driven trading strategies. Regular cryptocurrency trading is more of a personal journey. A trader heads into the market to make decisions based on their research. They profit from their insights, technical analysis, and knowledge about the market.
On the other hand, social trading involves collaboration and insights from others, in most cases, an experienced trader. Trading cryptocurrencies alone can be lonely sometimes, but it doesn't have to be. Besides learning and sharing ideas with others to lock in more profits, social trading makes cryptocurrency trading fun as it creates a bond between traders who meet regularly to collaborate and share ideas.
What Is Copy Trading?
Copy trading is an aspect of social trading. Copy trading goes beyond observing an experienced trader’s strategies. It involves mimicking their moves to profit when they do. The best crypto copy trading platforms allow copy traders to imitate the trades of reputable, seasoned traders. This way, newbie traders can simply automate their trading by following traders with a winning track record and profit from their strategies.
The best copy trading platforms like eToro make it easy for beginners to replicate the strategies of seasoned traders. On eToro, investors can search for traders based on the asset they invest in, performance, copiers and assets under management, risk rating, and trading stats.
Copy Trading vs. Social Trading - What's The Difference?
These two terms are often used interchangeably and for good reasons. Social trading is a type of dealing that allows investors to learn from other professional traders. It includes a lot of the elements that are found in social media networks. Investors can create profiles, post updates, follow others, access market data, and copy trades.
On the other hand, copy trading is a form of social trading. Copy trading allows users to ‘copy’ the trades of others. While social trading encompasses the whole trading network, copy trading is a subset of that network. One prominent similarity between both concepts is that they both benefit beginner traders. A newbie trader can easily learn and profit from social and the best crypto copy trading platforms. This allows the investor to actively trade crypto and profit from the knowledge and insights of others.
How To Use A Crypto Social Trading Platform - Full Guide.
Now that we understand how social trading works, let’s examine how to get started with eToro – our best platform for crypto-social trading.
1. Create an account with a copy trading platform for cryptocurrency.
The first step is visiting eToro’s home page and clicking on the "Start Investing" button. Investors can sign up using their Google or Facebook account - although Google seems the most straightforward option. Alternatively, they could enter their username, Email address, and password directly to sign up. Users can verify the account by clicking the link sent to their Email, and their account will be authenticated.
2. Complete ID verification & deposit funds.
New users can verify their identity by sharing a government-issued ID. They might also be required to share a utility bill or a copy of their bank statement. Usually, this step is concluded in a few minutes on eToro. After verification, traders can make a deposit. To do this, visit the profile icon and click "Deposit Funds". Choose a payment method and outline how much to deposit.
Payment methods on eToro vary. Investors can choose wire transfers, payment processors, digital wallets, or cards. Note that the broker allows traders to deposit at least $10, and eToro doesn’t charge for fees deposited. Click on the "Deposit" button to complete the process.
3. Navigate to the CopyTrader section.
Next, investors can head to the "Discover" tab on their profile page. Scroll down until you see "CopyTrader" and click on the page. Here, there is a list to see top crypto traders and filter them based on location, assets traded, performance, assets under management and trading frequency. Once an investor whose risk appetite suits, simply click on "Copy."
4. Enter in crypto trading parameters.
After settling on a trader, the next step is to choose the trading parameters. These include how much to allocate and the price point to stop copying the trader. This is the equivalent of the "Stop loss" feature in traditional trading on a centralized exchange. Click "Copy" and review the terms again. From there, open the positions, and everything is set.
Frequently Asked Questions.
Which is the best trading platform for cryptocurrency?
Based on our research, eToro is the best crypto social trading platform to use in the market right now. The broker is easy to use, allowing traders to enjoy social trading at no extra cost for the copy-trade service.
What is the safest social trading platform for crypto?
Many trading platforms have security measures in place. eToro is one of the best crypto social trading platforms because the broker protects user funds using advanced encryption and two-factor authentication (2FA). eToro also protects customers' data using data masking.
Why use a crypto social trading platform?
Social trading is a trading pattern based on a community-first approach. With social trading, a group of crypto traders and investors can connect to discuss ideas, have conversations about their markets, and possibly make trading decisions based on their interactions with other traders.
Conclusion.
Social trading is an impressive addition to traders' behavior in the crypto market. Thanks to the best crypto copy trading platforms, traders now have a better way to interact, share ideas and make profitable trades. Looking to get involved in the crypto social network or copy-trading scene? We recommend our top pick eToro. The broker's CopyTrader and CopyPortfolio features provide an easy and effective way to mirror the moves of experienced traders, and it is available at no extra cost.
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Kevin Groves.
Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. In 2019, he started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.