30 Best Copy Trading Forex Brokers

CopyTrading is an incredibly efficient way to learn how to trade or to test new strategies and tools. We recommend the following 30 Best Copy Trading Forex Brokers if you are a beginner or experimenting with different trading styles.

 

What is Copy Trading?

Copy trading started in 2005 when complex trading algorithms were copied through automated trading bots. Since then, the process of copying trades has become incredibly user-friendly and sophisticated, having evolved from something that was used primarily by experienced traders, to something that is beginner-friendly and easy to use.

Copy trading platforms such as Zulutrade, Duplitrade, Digitrade, ForexCopier and many others emerged and it has become an increasingly popular way of trading because of how easy it is to learn by watching other people trade.

In fact, copy trading has become so popular that some investors actually opt for creating portfolios based on people instead of assets, and instead of traditional investments where money is put into stocks or commodities, they invest in successful traders whose strategies they can copy.

 

How does Copy Trading work?

Most copy trading platforms work the same way. Essentially, you simply choose a trader to copy, you invest some money and in most cases, your trading account will automatically copy their trades in real-time (which is why it is important to use a platform that meets your specific needs).

With some brokers, like eToro, there are no additional costs to copying trades, but always be sure to enquire and do your research about platform and trading fees before making any commitments. 

Most brokers and copy trading platforms will advise you not to put all your money on one specific trader because when they lose, you lose. A good balance can be obtained by investing only up to 20% of your portfolio in a trader and you should always look at statistics and track records, and not choose traders based on personal preferences.

 

What are the Benefits of Copy Trading?

Copy trading is popular for the following reasons:

  • It helps you develop your own trading style over time
  • You can learn from successful traders
  • Beginners get introduced to advanced concepts and trading strategies
  • Risks are more distributed across your portfolio 
  • You are part of a community
  • You can follow trading activity and learn in the process
  • You can use multiple strategies in a single portfolio
  • It frees up a lot of your time and reduces stress
  • You can choose to copy trade manually or automatically

 

AvaTrade

AvaTrade

AvaTrade requires a minimum deposit of 100 USD to activate your trading account and you can fund your account using AUD, CHF, USD, GBP or EUR.

You can trade Cryptocurrencies, Commodities, Forex pairs, Indices, Stocks, Bonds and ETFs with this broker and you can use MT5, AvaTradeGo, MT4 and AvaOptions.

AvaTrade offers 4 types of accounts and is suitable for inexperienced traders.

 

Pros and Cons of AvaTrade:

✔️Pros ❌Cons
Multiple accounts No US clients
5+ regulations Minimum deposit may be high for international clients
Beginner-friendly
Trading bonuses

 

Alpari

Alpari

Alpari has millions of clients and offers more than 250 tradable instruments.

You can choose from 4 types of accounts, depending on whether you prefer standard or ECN trading conditions, and swap-free and demo accounts are also provided.

This is another great option for beginners and we recommend this broker if you are new to trading because educational resources are provided, along with demo accounts and a variety of trading tools.

 

Pros and Cons of Alpari:

✔️Pros ❌Cons
300+ instruments Not many regulations
Referral awards Only 3 asset classes
MetaTrader compatibility
High maximum leverage

 

eToro

eToro

You can trade Forex, Commodities, Cryptocurrencies, ETFs, Stocks and Indices, by depositing only 50 USD into your eToro account.

Several base currencies are supported for account funding, including USD, JPY, RUB, CAD, EUR, CNY, GBP and AUD.

This broker is compatible with the OpenBook platform, but you can also use the proprietary eToro trading platform.

 

Pros and Cons of eToro:

✔️Pros Cons
17mil+ clients No trading bonuses
US clients accepted Low maximum leverage
Low minimum deposit No MetaTrader support
Tier-1 regulations

 

HotForex

HotForex

HotForex offers a loyalty program and a unique reward system for clients that allows “bars” to be exchanged for premium benefits. 

This broker offers several account types with variable spreads and MetaTrader support.

Only 5 USD is required to trade with HotForex and you can fund your account using ZAR, NGN, USD or USD.

 

Pros and Cons of HotForex:

✔️Pros Cons
5+ accounts High trading fees
Very low minimum deposit Inactivity is penalised
6+ asset classes
Loyalty program

 

RoboForex

RoboForex

RoboForex is another great option for traders on a budget and requires only 10 USD to activate a trading account. 

As a RoboForex client, you can benefit from multiple reward systems, such as VIP services, rebates, trading bonuses, VPS and more.

This broker supports MetaTrader 4 and 5, cTrader and R Stocks Trader.

 

Pros and Cons of RoboForex

✔️Pros Cons
Welcome bonus No tier-1 regulations
Low minimum deposit No USA clients
Trading contests
Multiple demo accounts
Support for popular platforms

 

OctaFX

OctaFX

OctaFX is an FSA and SVGFSA-regulated broker that has more than 6 million clients from over 100 countries.

This broker offers 3 account types and requires a minimum deposit of 100 USD, accepting USD and EUR as base currencies for account funding.

You can trade Cryptocurrencies, Commodities, Forex, Stocks and a variety of CFDs with OctaFX and MT4 and 5 are supported platforms.

Alternatively, you can trade on OctaFX’s proprietary trading platform.

 

Pros and Cons of OctaFx:

✔️Pros Cons
Available in 100+ countries 2 base currencies
Flexible accounts
Trading bonuses
Compatible with MetaTrader

 

Forex4you

Forex4you

Forex4you offers 3 proprietary trading platforms and MetaTrader4 support.

The Share4you copytrading program allows for fully automated trading with risk control tools and more than 1,000 successful traders provide strategies on this platform.

Share4you is suitable for beginners, and we highly recommend using this broker if you are new to trading because no minimum deposit is required, you can use demo accounts and plenty of learning material is provided.

 

Pros and Cons of Forex4you:

✔️Pros Cons
No minimum deposit No swap-free account
Multiple platforms No crypto trading
Award-winning broker
Trading bonuses and promotions

 

Dukascopy

Dukascopy

Dukascopy accepts more than 10 currencies for account funding, including ZAR, USD and EUR, and requires a minimum deposit of 100 USD.

Multiple live and demo accounts are available and you will have access to a variety of charting tools, trading signals and technical indicators.

This broker is compatible with MetaTrader 4 and the JForex platform and offers wealth management services in addition to trading accounts.

 

Dukascopy Pros and Cons

✔️Pros ❌Cons
10+ base currencies High commission fees
Great selection of tools No US clients
Multiple accounts
Trading bonuses

 

InstaForex

InstaForex

As an InstaForex client, you can trade Oil, InstaFutures Gas, Futures, Metals, Indices, Crypto, Stocks, Commodity and Forex on the MetaTrader platforms and the proprietary InstaTick platform.

InstaForex offers 2 accounts, as well as demo accounts and Islamic accounts, and is suitable for beginners.

InstaForex requires a minimum deposit of only 1 USD and a great selection of trading tools are provided.

 

Pros and Cons of InstaForex:

✔️Pros Cons
Low minimum deposit 2 base currencies
6+ asset classes No USA clients
Trading bonuses
MetaTrader support

 

NPBFX

NPBFX

NPBFX is an all-in-one broker that offers learning resources and demo accounts for beginners, as well as advanced analytics tools, multiple copy trading platforms (such as MyDigiTrade and ZuluTrade) and several different promotions.

As an NPBFX client, you can benefit from the loyalty program, up to 60% cash back rewards, contests and more.

In addition to Swap-free and demo accounts, NPBFX offers 3 trading accounts with a minimum deposit of only 10 USD is required to trade with this broker.

 

Pros and Cons of NPBFX:

✔️Pros Cons
Low minimum deposit No cryptocurrencies
Loyalty program 3 base currencies
User-friendly website
Compatibility with multiple platforms

 

ETX Capital

ETX Capital

ETX Capital offers 24/7 support and facilitates the trading of Forex, Indices, Shares, Commodities and Cryptocurrencies.

ETX Capital supports the MetaTrader 4 platform, but a proprietary trading platform and plenty of trading tools and resources are also provided.

ETX Capital provides thousands of trading strategies and daily market commentary.

 

Pros and Cons of ETX Capital: 

✔️Pros Cons
24/7 support 3 base currencies
5,000+ strategies
Plenty of trading resources
CySEC-regulated

 

FXTM

FXTM

FXTM is a regulated MetaTrader-compatible broker with more than 2 million clients from over 100 countries.

There are 3 accounts to choose from, as well as swap-free and demo accounts, and you can trade Forex, CFDs, Stocks, Indices, Commodities and Metals with this broker.

FXTM is a great option for beginners and a variety of technical indicators, strategy tools and trading signals are provided for more experienced traders.

 

Pros and Cons of FXTM:

✔️Pros ❌Cons
2 mil+ clients No clients from US
5,000+ strategies Inactivity is penalised
Low spreads

 

GO Markets

GO Markets

GO Markets requires a minimum deposit of 200 USD and accounts can be funded using NZD, CAD, USD, EUR, SGD, CHF, GBP, AUD or HKD.

This broker is suitable for inexperienced traders and offers plenty of guides, tutorials and articles, as well as demo accounts, to help you learn.

You can use Autochartist, a-Quant and MetaTrader Genesis for research and analysis and GO Markets is also compatible with Myfxbook and MetaTrader 4 and 5.

 

Pros and Cons of GO Markets:

✔️Pros ❌Cons
5+ base currencies No swap-free account
Tier-1 regulations High minimum deposit
Many platforms to use

 

Pepperstone

Pepperstone

Pepperstone is regulated by more than 5 reputable international agencies is compatible with MetaTrader 4 and 5 and cTrader.

This broker offers 2 accounts, as well as demo and Islamic accounts, and the minimum deposit requirement at Pepperstone is 200 USD.

You can fund your account using GBP, USD, EUR, AUD, CHF, SGD, HKD, NZD or JPY, and tradable instruments include Indices, Forex, ETFs, Shares, Cryptocurrencies and Commodities.

 

Pros and Cons of Pepperstone:

✔️Pros ❌Cons
Many regulations Low maximum leverage
5+ base currencies High minimum deposit
Trading bonuses
No inactivity fee

 

FXPrimus

FXPRIMUS

FXPrimus offers 4 account types with incredibly tight spreads starting at 0 pips.

This is a CySEC-regulated broker that provides personal account management services, weekly market outlooks, educational material and more.

In addition to the MetaTrader and cTrader tools provided, you will also have access to VPS, a trading tools suite, premium APIs and advanced calculators.

 

Pros and Cons of FXPrimus:

✔️Pros Cons
Spreads starting at 0pips No USA clients
Multiple accounts
Negative balance protection
Trading bonuses on Oil and Gold

 

Swissquote

Swissquote

Swissquote is regulated by multiple top-tier entities and is recommended for swing traders, day traders and scalpers.

You can choose from 4 account types, as well as demo and swap-free accounts, and this broker supports Robo trading and multiple platforms, including FIX API, MT4 and 5, Trading Central, Autochartist, MT Master Edition and AdvancedTrader.

This broker may not be suitable for beginners because the minimum deposit requirement is fairly high (1000 USD) and the platforms provided are for more experienced clients.

 

Pros and Cons of Swissquote:

✔️Pros ❌Cons
Many platforms High minimum deposit
10+ base currencies Not beginner-friendly
Great for advanced traders

 

FP Markets

FP Markets

You can open a demo account with FP Markets or activate your live trading account with only 100 USD using several currencies, including CAD, USD, EUR, GBP, NZD, HKD, JPY, CHF, AUD and SGD.

FP Markets offers a proprietary trading app with Expert Advisor support and free VPS, but you can also use MT4 and MT5.

This broker guarantees tight spreads and provides plenty of advanced trading tools and educational content. 

 

Pros and Cons of FP Markets:

✔️Pros ❌Cons
10,000+ CFDs No trading bonuses
Beginner-friendly No fixed spreads
Tier-1 regulations

 

FBS

FBS

FBS has more than 15 million clients globally and is regulated by 4 top-tier entities. 

This broker offers 5 account types, as well as demo and swap-free accounts, and you can get more out of your investments with the FBS loyalty program.

You can start trading Indices, Stocks, Forex, Energies, Metals, Crypto by depositing only 1 USD with FBS and you can use MetaTrader 4 and 5, CopyTrade or the proprietary FBS Trader app.

 

Pros and Cons of FBS:

✔️Pros Cons
Beginner’s option Low maximum leverage
5 accounts 2 base currencies
MetaTrader support
Low minimum deposit

 

Darwinex

Darwinex

Darwinex is a UK-based broker that is available in more than 80 countries.

This broker offers MetaTrader support, as well as being compatible with FIX API and Trader Workstation.

With Darwinex, you can trade  Indices, Stocks, Commodities and US Forex, and accounts can be funded using EUR, GBP, or USD.

Darwinex is an FCA-regulated Forex broker based in the United Kingdom, that was founded in 2012.

 

Pros and Cons of  Darwinex:

✔️Pros Cons
Multiple platforms No swap-free account
Felxible account types High minimum deposit
API supported 3 base currencies

 

Orbex

Orbex is an NDD CySEC-regulated broker that offers more than 300 tradable instruments across 4 asset classes.

This broker guarantees tight spreads, starting at 0pips and you will find plenty of trading guides, video tutorials and educational articles on the website.

Orbex offers 4 types of accounts, as well as demo and swap-free accounts, and a minimum deposit of 200 USD is required.

 

Pros and Cons of Orbex:

✔️Pros Cons
Tight spreads No cryptocurrencies
Negative balance protection
Daily market analysis
Free VPS

 

FXCM

FXCM

FXCM offers a rebate program and rewards, clients through a referral program and an active trader program.

This broker is regulated by the ASIC and supports several platforms, including NinjaTrader, Station, Trading MT4, ZuluTrade, Capitalise AI and TradingView.

FXCM requires a minimum deposit of only 50 USD and you can trade Crypto, Commodities, Shares, Forex and Indices with them.

 

Pros and Cons of FXCM:

✔️Pros Cons
Low minimum deposit 4 base currencies
Suitable for beginners Penalty fees for inactivity
Top-tier regulations
Multiple platforms supported

 

LiteFinance

LiteFinance

LiteFinance has nearly 1 million clients and offers a multilingual website with plenty of educational material for beginners.

You can choose from 2 accounts and demo accounts and swap-free accounts are provided.

LiteFinance facilitates the trading of Oil, Cryptocurrencies, NASDAQ CFDs, NYSE CFDs, Metals, Stocks and Forex, and your initial deposit requirement is only 50 USD.

 

Pros and Cons of LiteFinance:

✔️Pros Cons
Variety of tradable assets No US clients
Rebate program
MetaTrader support
Low minimum deposit

 

AMarkets

AMarkets

AMarkets is an FSA-regulated broker with plenty of trading tools, including Expert Advisor support, VPS hosting, access to AutoChartist, Economic calendars, Trader’s calculators and Sentiment Indicators.

This broker also provides trading ideas, Quarterly analytical reviews, Technical analysis reports, Forex news and weekly trade highlights.

In addition to all the tools and features offered, AMarkets is also a great option for beginners and the website is user-friendly!

 

Pros and Cons of AMarkets:

✔️Pros Cons
Tight spreads 2 base currencies
Commission-free trading Not many regulations
Plenty of analytics resources
Beginner-friendly

 

XM

XM

XM is regulated by 6 entities across multiple jurisdictions and you can trade Crypto, Stocks, Metals, Shares, Energies, Commodities and Forex with this broker.

XM has over 5 million clients in nearly 200 countries and offers over 1,000 instruments.

XM requires a competitively low minimum deposit of only 5 USD and you can fund your account using GBP, AUD, CHF, RUB, JPY, HUF, EUR, PLN or USD.

 

Pros and Cons of XM:

✔️Pros ❌Cons
Very low minimum deposit No fixed spreads
5+ base currencies No US clients
MetaTrader support Inactivity fees
Promotions and signup bonuses

 

Tickmill

Tickmill

Tickmill is a beginner-friendly broker that is regulated by several entities, including CySEC and FCA.

This broker provides access to Autochartist and FIX API, and also allows the use of Pelican trading tools, VPS and Myfxbook.

 

Pros and Cons of Tickmill:

✔️Pros Cons
Negative Balance Protection No clients from USA allowed
MetaTrader support No fixed spreads offered
Commission-free trading No crypto trading
Many regulations
Flexible account options

 

Vantage FX

Vantage-FX

With Vantage FX, you can trade Forex, CFDs, Soft commodities, Metals, Energy and Indices.

The platforms you can use with Vantage FX include MyfxBook, Protrader, ZuluTrade, Vantage apps, MetaTrader 4 and 5, Metaquotes and DupliTrade.

A 50% welcome bonus is offered and there is an active trader program for high-volume traders.

 

Pros and Cons of Vantage FX:

✔️Pros ❌Cons
Free VPS Commission charged
beginner-friendly High minimum deposit
Trading bonuses

 

IC Markets

IC Markets

IC Markets is an ASIC and CySEC-regulated broker that is suitable for retail trading, day trading, scalping and EA trading.

This broker requires an initial deposit of 200 USD and accounts can be funded using CAD, AUD, JPY, GBP, USD, HKD, EUR, NZD, SGD or CHF.

You can trade Bonds, Indices, Commodities, Crypto, Forex, Futures and Stocks with IC Markets and use MetaTrader 4 and 5, or cTrader.

 

Pros and Cons of IC Markets:

✔️Pros ❌Cons
5+ base currencies No clients from US
Tier-1 regulations High minimum deposit
MetaTrader support

 

Axi

Axi

Axi is suitable for both retail and institutional traders and charges no penalty fees for inactivity, unlike most other brokers.

This broker is regulated by ASIC and 2 other entities and offers flexible account types.

You can start trading with Axi without making an initial deposit and the platforms supported by Axi include Myfxbook, PsyQuation and MT4. 

 

Pros and Cons of Axi:

✔️Pros Cons
Inactivity is not penalised No trading bonuses
Low spreads Account creation takes long
Multiple platforms
No minimum deposit

 

ForexMart

 

ForexMart offers 4 account types and you can trade Metals, Energies, Spot Indices Cryptocurrencies, Forex and CFDs with them.

This broker is regulated by CySEC and requires a minimum deposit of 15 USD.

You can trade over 100 Forex pairs with ForexMart and demo accounts are provided.

 

Pros and Cons of ForexMart:

✔️Pros Cons
Multiple accounts 3 base currencies
Negative Balance Protection No US clients
Zero-commission trading No trading bonuses
100+ FX pairs

 

Exness

Exness

We recommend heading over to the educational site where you will find all the learning material you need to learn how to trade if you are new to trading.

This broker requires a minimum deposit of 10 USD and accounts can be funded using EUR, AUD, NZD, SGD, JPY, ZAR, CHF or USD.

As an Exness client, you will be able to use MetaTrader 3 and 5, and there are several accounts to choose from.

 

Pros and Cons of Exness:

✔️Pros Cons
Low minimum deposit No trading bonuses
MetaTrader support Educational resources not on main site
Unlimited leverage
107+ Forex pairs

 

Conclusion

We recommend trying one of the 30 Best Copy Trading Forex Brokers listed in this article if you are interested in experimenting, learning and (potentially) earning simultaneously. 

If you are copying someone’s trades, all you need to do is make sure you understand the basics of the strategy they are using and replicate their moves – you don’t even necessarily need to watch the news or do much research – which can be very time consuming (but we would recommend doing so in the best interests of your trading career). 

The purpose of copy trading is to make it easy for people to enter the markets (even with limited knowledge of trading ) and to potentially help them earn profits by copying the strategies of professional traders. Think of it as copying what your teacher did when you were in school – it makes things so much easier!