Best Copy Trading Platform in UAE 2022 (Updated)
Are you interested in copying trading portfolios from professional traders and wondering which is the best copy trading platform in UAE . Our team of analytics at Business24-7 has weighted and compared 98 online brokers that are offering copy trading features in 10 different categories. The categories include: platforms, copy trading features, assets, fees, mobile trading apps, regulation, deposits & withdrawals, research & education, customer support, and islamic account availability.
After considering 214 variables across 3500 data points, the following are considered ad the Best Copy Trading Platforms in UAE:
Top 5 Copy Trading Platforms.
Here is a list of the best platforms for copy trading:
eToro – Best For Stocks and For Beginners AvaTrade – Best For Forex and CFD Naga – Best for Stocks and ETFs IC Markets – Best Trading Fees Vantage – Best on Reseaerch and Education.
RANK BROKER GENERAL PLATFORM SCORE BEST FOR WEBSITE #1 eToro Well-designed mobile app 4.9 / 5 Best For Stocks and For Beginners Official website #2 Ava Trade Low fees and spreads​ 4.8 / 5 Best For Forex and CFD Official website #3 Naga Copy trading available on Demo accounts 4.4 / 5 Best for Stocks and ETFs Official website #4 IC Markets Comprehensive trading tools 4 / 5 Best Trading Fees Official website #5 Vantage Provides a demo account and tutorials 4 / 5 Best on Reseaerch and Education Official website.
TOP 5 Copy Trading Platforms in Overview:
01. eToro: Best For Stocks and For Beginners.
eToro is a reputable global brand and industry leading broker for copy trading. Their robust and cutting edge copy trading platform and social trading features allow users to copy trades and portfolios from professional traders and investors.
As a CFD multi asset broker, eToro allows users to trade on over 3075 different symbols including stocks, forex, cryptos, indices and commodities. Trading spreads are wide, deposits are free and account minimum is low. There are conversion and inactivity fees. eToro provides a comprehensive list of technical tools, charts, and newsfeeds. Their customer support is available through email and live chat in Arabic and English.
eToro is a well established market maker broker with a clean history record, regulated by top tier regulators.
eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Not suitable for all investors. Capital at risk. See PDS and TMD.
Pros:
Copy trading available for Forex, CFDs, Stocks and cryptocurrency Copy trading available on demo account for practice Statistics and signal providers available.
Cons:
Automated algorithmic trading is not available, signal provider platforms may not work.
Key features:
Sophisticated social-copy trading features Multiple different payment options Crypto exchange and brokerage services on the same dashboard Super fast registration and KYC on-boarding process Zero commission stock trading Great ease of use level.
02. AvaTrade: Best For Forex and CFD.
AVAtrade is a well trusted global online broker for forex and CFD trading. Their multi-asset trading platform and mobile trading app enable traders to access 1365+ tradable symbols overall, including 1200+ CFD’s, major currency pairs with low forex spreads and premium options.
Beside their proprietary platform AVAtradeGo and MetaTrader, AVAtrade has great selection of copy trading solutions including ZuluTrade, DupliTrade and AVAsocial.
Account opening is fast, deposits and withdrawals are free of charge. The minimum deposit is $100.
Choose AVAtrade if you are a beginner or semi advanced forex trader, looking to trade major forex currency pairs, options or CFDs as stocks, cryptos, indices or best crypto copy trade platform commodities with premium services.
Pros:
Copy Trading available via3 different platforms: ZuluTrade DupliTrade and Mql5.com Share ideas, comments, and show others your achievements with AvaSocial AvaSocial interacts with signal providers Copy trading available with $100 deposit Copy trading available via MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
Cons:
If the signal provider uses a different broker, some trades will not work. Platform requires advanced trading knowledge to setup.
Key features:
Access to 1250 CFDs and 44 forex options Excellent copy trading features Advanced mobile trading app (AvaOptions) Industry average pricing Perfect for casual and advanced traders Access to the full meta trader suite.
03. Naga: Best for Stocks and ETFs.
NAGA Markets is a CySEC and BAFIN-regulated forex and CFD broker owned by a publicly listed German FinTech company on the Frankfurt Stock Exchange. Traders can trade over 1,000 financial instruments including forex, stocks, commodities, indices, ETFs, cryptocurrencies, and NFTs on NAGA Markets with up to 1:30 leverage. NAGA Markets also offers social trading, which is ideal for beginner traders or for people who don’t have time to trade the financial markets themselves.
NAGA Markets has its own proprietary trading platform and app, but is also compatible with MetaTrader 4 and MetaTrader 5. The broker’s own trading platforms are fully customizable and provide both beginner and experienced traders with all the analytical tools and features they need.
NAGA Markets has an extensive free-to-access education section on its website consisting of the NAGA Academy, NAGA Learn, and the Currencies Encyclopedia. If you want to try out NAGA Markets’ trading platform, you can do so completely free of charge with the available demo paper trading account. The minimum deposit required to open a live NAGA Markets trading account is $250.
The NAGA Markets customer support is available 24/7 in English, Arabic, and over 10 other languages by email and live chat.
Pros:
Stocks, ETFs and Futures available for copy trading Offers stocks from 6 different markets Copy trading is available on Demo accounts.
Cons:
Automated algorithmic trading is not available.
Key features:
Trade over 1,000 financial instruments including crypto and NFTs from one account Copy other trader’s trades with NAGA Copy Trading Order the NAGA Pay fast debit card to spend crypto Regulated by the CySEC and BaFIN Instant withdrawals to e-wallets and crypto wallets.
04. IC Markets: Best Trading Fees.
IC Markets is an ASIC and CySEC-regulated broker operating globally. With IC Markets you can trade forex, CFD, and crypto with up to 1:500 leverage. IC Markets has over 2,000 tradable assets and charges low, floating spreads from 0,0 pips.
IC Markets has multiple trading platforms available and is compatible with MetaTrader, cTrader, myfxbook AutoTrade, and ZuluTrade. Professional traders can open a Raw Spread, Standard or Islamic account at IC Markets, whilst beginners can practice trading with their unlimited demo paper trading account.
You can fund your IC Markets account by bank transfer, credit card, or e-wallets like PayPal at 0% commission and receive access to a free VPS server after opening an account with them.
Pros:
Copy Trading is available via 4 different platforms: ZuluTrade DupliTrade, Mql5.com and cTrader CopyTrader Copy trading available with MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader trading platforms Advanced Copy Trading management tools available.
Cons:
If the signal provider uses a different broker some trades will not work. Advanced trading knowledge required for correct setup Some signal providers only available for certain account types or trading platforms.
Key features:
Access to over 2,000 CFDs on stocks, bonds, indices, commodities, forex, and digital currencies Islamic swap-free accounts available on request Compatible with MetaTrader 4, 5, cTrader, ZuluTrade, and Myfxbook AutoTrade Raw spreads from 0,0 pips Well-suited for both beginner and experienced traders Expert Advisors and other forms of automated trading allowed.
05. Vantage: Best on Reseaerch and Education.
Vantage is an FCA-regulated forex and CFD broker that has been in business since 2009. With Vantage traders can trade CFD’s on American, Europeans, and Australian stocks, commodities, and ETFs with up to 1:500 leverage at low, floating spreads.
Vantage offers both STP and ECN accounts and is compatible with MetaTrader 4 and 5. Traders can make use of 9 additional add-ons when they decide to connect their Vantage account with MT4 or MT5. Some examples of these add-ons are the Alarm Manager, Correlation Matrix, Correlation Trader and Market Manager.
Apart from these add-ons Vantage offers every trader access to a free VPS server, crypto copy trading platforms a forex sentiment indicator and research tools like Market Buzz, Featured Ideas, and Analyst Views. You can familiarize yourself with the VantageFX trading platform or test your trading strategies with the available demo paper trading account or open a real account from a minimum deposit of $200.
Pros:
Copy Trading available with 4 different platforms: ZuluTrade DupliTrade, MyFXBook and Mql5.com Copy trading available via MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms Advanced Copy Trading management tools available.
Cons:
If the signal provider uses a different broker, some trades will not work. Advanced trading knowledge required for correct setup Higher deposit required for copy trading via Duplitrade.
Key features:
Access to over a thousand CFDs on shares, soft commodities, metals, indices, forex, and energy markets PRO ECN, RAW ECN, Islamic swap-free, and unlimited demo accounts available Low, competitive spreads from 0.0 pips In-depth market analysis available and access to free sentiment indicators and trading signals Free PRO trader tools, forex VPS, and MT4/MT5 SmartTrader tools TradingView dynamic charting features Trade on-the-go with the Vantage and Metaquotes apps Excellent copy trading features provided by ZuluTrade, DupliTrade, and MyFXbook Autotrade.
How to Pick a Copy Trading Platform in UAE?
To choose the right trading platform for copy trading, you need to obtain certain criteria. In our selection process we gathered data from 98 online brokers that offer copy trading features and compared them in 10 different categories. Those include: trading instruments offered, trading platform features, trading conditions and non trading related features (customer support, research & education, deposit & withdrawal options). Based on those criteria we gave each of the brokers an overall score. The biggest weight was put on social trading features and services. Below is a more detailed breakdown of what exactly was considered:
Social/copy trading: Social and copy trade in crypto (cryptocurrency.copy-trade.shop) trading helps new traders gain experience, and also allows experienced traders to delegate trading activities to other traders. Make sure you understand how social and copy trading work before you start. Assets : Investors should have access to a range of assets for copy trading. Make sure you can copy trade assets like: Stocks, mutual funds, bonds, ETFs, commodities, futures, forex, indices, and cryptos. Research & education : Copy trading takes the work out of trading, but you should look for a broker that has educational resources, as well as access to market data. Customer support: Make sure that any broker you choose has a dedicated support staff that is always available. Also look for how you can contact the broker, and make sure they will communicate in your language. Mobile Trading : There are mobile trading platforms available that operate with both Android and iOS. If you want to trade on a mobile device, make sure your broker offers the tools you need on its mobile platform. Fees: Any trading fees you pay impact profits, so make sure you work with a broker that has low fees. Some brokers offer 0% trading fees, but copy trading has its own set of fees that impact the profits. Trading platforms: Copy trading platforms are bespoke, and each broker has its own set of copy trading parameters. Make sure you understand all the features of the copy trading platform you choose before you put money into the market. Deposit & Withdrawal: Brokers should have free deposits and withdrawals, so make sure any broker you choose allows you to fund your account for free. Also make sure that the broker accepts a payment method you like. Regulation: The FCA, CySEC, and ASIC regulate brokers and other financial service providers. Don’t waste your time with unregulated brokers.
* Islamic Accounts: Copy traders in the UAE have options for brokers that comply with Sharia law. You should choose the best compliant broker for your investment needs.
The table below breaks down the best brokers for copy trading in all of the categories tested:
Broker Trading instruments Trading platform features Non trading related services Trading conditions Social Trading service Social Trading Providers Overall eTorro 4.2 4.0 5.0 4.0 5 eTorro 5.0 Ava Trade 3.5 4.3 4.8 4.2 4.8 ZuluTrade, DupliTrade, Mql5.com 4.8 IC Markets 3.6 4.8 4.6 5.0 4.6 ZuluTrade, DupliTrade, Mql5.com 4.8 Vantage 3.5 4.5 4.8 5.0 4.8 ZuluTrade, DupliTrade, Mql5.com 4.7 Capital.com 4.1 4.8 4.7 4.6 4.3 Mql5.com 4.5.
What is social trading?
Social trading leverages the social revolution for traders, and allows a common space for interaction between new and experienced traders. Like social media, social trading has forums, posts, and information exchange. The topic is always trading, and there are options for copy trading on social trading platforms.
What is the Difference between social and copy trading?
Social trading and copy trading are similar, copy trade cryptocurrency but there are some important differences. Copy trading allows an investor to copy trades from another trader, while social trading shares information in a group of traders. Social trading is a perk for clients of a broker who share information and learn, and copy trading is a service that risks capital and has fees.
What are The Pros and cons of social trading in UAE?
Social trading is a way for new traders to learn more about the markets, so there are no real downsides to participation.
However, it is important to realize that even experienced traders lose money, and not every market call they make will be accurate. If you are a beginner trader in the UAE, it is a good idea to look for a broker that offers social trading.
Copy trading is where risk enters the picture, as copy trading involves taking on positions another trader controls. Because a trader has been successful in the past, it doesn't mean every trade they make creates profits.
Which Assets are available for copy trading in UAE ?
Social trading is available for any of the assets that a broker offers, for example: forex, stocks, indices, commodities, ETFs, and cryptos are available on social trading platforms. If you want to use copy trading, make sure you understand the risks involved.
Final Verdict.
After analysing 89 online brokers that offer copy trading services to UAE users and comparing them in 10 different categories, we consider eToro as the best copy trading platform in UAE . They offer a proprietary social trading platform for mobile and desktop with a great variety of copy trading features, high ease of use level, great selection of professional traders to copy and a "forum alike" chatting option. Investors can buy stocks, ETFs forex currency pairs, cryptocurrencies and bonds with eToro.
FAQ.
Are social trading and copy trading the same?
Social trading and copy trading aren’t the same, as social trading is like social media for trading, while copy trading is allowing another trader to invest your capital.
Is copy trading risky?
Any trading involves risk, and copy trading is no different. Be sure to use a diversity of traders when you copy trade, and avoid concentrated positions.
Will I make more money with copy trading?
Copy trading is profitable, although your success depends on the skills of an experienced trader. In addition, copy trading saves time, which is valuable.
Is social trading a good way to learn?
Social trading is one of the best educational resources for any new trader, and platforms include social resources at no cost. Take advantage of social trading to learn more about markets.
Methodology.
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.
Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.
Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.
Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.
Disclosure.
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
1 Top 5 Copy Trading Platforms 1.1 TOP 5 Copy Trading Platforms in Overview: 1.1.1 01. eToro: Best For Stocks and For Beginners 1.1.2 02. AvaTrade: Best For Forex and CFD 1.1.3 03. Naga: Best for Stocks and ETFs 1.1.4 04. IC Markets: Best Trading Fees 1.1.5 05. Vantage: Best on Reseaerch and Education 2.1 FAQ 2.1.1 Are social trading and copy trading the same? 2.1.2 Is copy trading risky? 2.1.3 Will I make more money with copy trading? 2.1.4 Is social trading a good way to learn? 2.1.5 Methodology.