What Is Copy Trading?
Copy trading is also known as social trading, mirror trading, or auto trading. In copy trading, instead of being on the frontlines, you stay in the background. You find a trader with a good portfolio and then you “copy them”. This means that you basically make a duplicate of their portfolio.
All of their trades that are open get copied to your account. Once this is done, every action taken by that trader gets mimicked in your account. Of course, you can set your maximum position size and regulate your spend.
Copy trading is great for people that are new to trading, with busy schedules, day jobs or busy family life and they do not have time to learn how to trade or want to risk their money with little or no experience. Simply follow a pro trader who has already mastered the art of trading.
We recommend eToro as one of the best copy trading/social trading platforms.
Start Copy Trading In 3 Simple Steps
1. Open A Free Trading Or Demo Account
Sign up to a live trading account through our supported broker eToro, the sign-up process is easy.
Getting started is simple and should only take 5 minutes!
You can start trading with as little or as much as you like – deposits and withdrawals are free.
2. Follow The Best Traders
View the leaderboard to find successful traders you want to follow and click ‘Copy’.
Their trades will be copied automatically and proportionally.
Copy trading allows you to try different trading strategies to decide which of them work best for you!
3. Monitor And Profit
With thousands of traders to copy you can create a balanced and diversified trading portfolio and receive a stable income.
You also have full control over the process and can modify or stop copying trades at any given time.
You can view detailed trading statistics for copied traders.