Copy trading has become an innovative feature that has taken crypto trading to the next level. It is one of the best ways for people to trade, whether they have insufficient time to actively place trades or little or no prior experience.
To get started with crypto copy trading, you need to choose a copy trading platform that ticks all the right boxes in terms of features offered. Several top crypto copy trading platforms in the industry support this new feature, and as a potential copy trader, it’s important to know your options.
In this article, we will review some of the best crypto copy trading platforms to help you choose the one that suits your needs the most.
What to Know About Crypto Copy Trading?
Crypto copy trading is an innovative feature that allows traders to automatically copy the trades of an expert. Copy trading for beginners is especially popular, as it allows you to leverage the expertise of more experienced traders.
Traders who opt for this feature do not have to constantly monitor the markets or keep an eye on the charts. Instead, they can choose a suitable exchange that offers crypto copy trading features and begin following an expert.
However, one important thing to keep in mind is that, as a copy trader, you will receive the same profits or losses as the trader you copy.
You can determine which copy trading platform is best for you based on the information provided below.
Bybit
Bybit is a prominent platform in the crypto trading community, thanks to features such as high leverage, excellent security, and more. This advanced platform is suitable for both experienced and novice traders, as it now offers copy trading.
Bybit features a large selection of experienced traders called ‘Principal Traders’. These expert traders must meet the platform’s criteria to register. Copy traders can select a trader to follow based on their trading record. A percentage of the net profit (10%) is shared with the Principal Trader.
Pros:
✅ Straightforward interface
✅ Transparent fee structure
✅ High leverage (up to 100x)
Cons:
❌ Not available in the USA
❌ Limited crypto assets
eToro
eToro is a pioneer in crypto copy trading and is an ideal exchange for new traders. It has a user-friendly interface, making it suitable for a wide audience.
There are thousands of verified traders on eToro that you can copy. You can also view comments from other copy traders to help you choose an expert to follow.
Pros:
✅ Wide range of tradable assets, including over 16 digital assets, stocks, FX pairs, and commodities
✅ Allows copy traders to adjust risk and exposure levels
Cons:
❌ Does not accept crypto deposits
❌ Charges inactivity and withdrawal fees
PrimeXBT
PrimeXBT is a leading platform for beginners, intermediate, and professional traders alike. It offers the Covesting feature for crypto copy trading, a key attraction for many traders.
PrimeXBT supports a variety of assets and provides high-end security for leverage trading.
Pros:
✅ Transparent fee structure
✅ Support for a wide range of asset classes
✅ Technologically advanced platform
Cons:
❌ Not available in the USA
❌ No demo accounts for new users
Sign up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies! Don’t forget to claim your 20% deposit bonus by using our link.
Pionex
Pionex is one of the best crypto copy trading platforms for new traders who are on a budget.
It’s a free-to-use trading platform that differs from others on this list by offering 16 in-built copy trading bots and strategies, making it ideal for those who need automated solutions.
Pros:
✅ Easy-to-navigate interface
✅ Best platform for people short on time or funds
✅ Supports hundreds of digital assets
Cons:
❌ Vague regulatory status
❌ Limited social interaction for users
Coinmatics
Coinmatics, established in 2018, offers a unique twist on crypto copy trading by allowing users to copy specific crypto trading strategies rather than individual traders. This platform supports both manual and automated copy trading.
Pros:
✅ Unlimited free trial
✅ No fees for the first $2,500 traded
✅ Manual trade entry/exit options
Cons:
❌ No social trading tools
❌ Cannot copy individual traders
CopyMe
CopyMe is a USA-based crypto trading platform that allows traders to copy multiple professional traders simultaneously. You can split your funds and diversify your portfolio by copying different traders.
Pros:
✅ 24/7 customer support
✅ Use filters to specify trading goals
✅ Copy multiple traders at once
Cons:
❌ Not budget-friendly
❌ Lacks detailed security information
Final Takeaways!
Crypto copy trading is the perfect solution for traders who want to participate in the market but lack the time or experience to do so effectively. It benefits both beginner traders and those with busy schedules, as they can trade without constantly monitoring the markets. The platforms mentioned in this article offer a variety of features to help you choose the best crypto copy trading strategy for your needs.
Disclaimer: The information provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Read more
