Copy-trading allows traders to copy the positions of expert traders using an automated system linked to their current trading account. You can use the copy trading strategy to trade currency pairs and CFDs on cryptocurrencies, commodities, stocks indices and ETFs.
This is a list of the top Copy Trading platforms and brokers
In this in-depth guide you’ll learn:
- What are the best copy trading platforms?
- What are the best copy trading brokers?
- Best copy trading platforms compared?
- What is copy trading?
- What is social trading?
And lots more…
Let’s dive right in…
10 Best Forex Brokers in South Africa for 2023
Copy trading is an excellent place for beginners to start trading forex and CFDs. You can earn while you learn from the best. Whenever the signal provider that you follow makes a trade, the copy trading system automatically makes the same trade on your account. You get identical returns as the expert trader, a profit or loss depending on the transaction’s success.
6 Best Copy Trading Platforms in South Africa (2023)
Copy trading is legal in most countries. It’s our recommendation you only use a regulated online broker that is safe and reliable. Trading forex and CFDs is risky, and there is no guarantee you will make money copying the trades of expert signal providers. If the expert trader makes a loss, you automatically make a loss on the same transaction.
Did you know?
Social trading and copy trading are similar but different. Copy trading is part of a social trading strategy. Social trading involves following other traders, tracking their stats and communicating with fellow traders to share tips and market insights. Copy trading means your trading account is bound to another trader, and every trade they make is duplicated on your trading account.
AvaTrade ǀ AvaSocial
📱 Trading Desk
MetaTrader 4, MetaTrader 5
📈 Total Pairs
🕒 Account Activation Time
🏛️ Visit Broker
AvaTrade is a leading forex and CFDs broker and provides three different platforms for social copy trading. AvaTrade has a proprietary copy trading platform called AvaSocial. It is offered in partnership with FCA-regulated Pelican Trading.
The award-winning platform provides AvaTrade customers with a user-friendly interface for seamless and fast order executions at a low cost. You learn to trade forex by following successful traders on either a demo or live MT4 or MT5 trading account.
AvaTrade also supports DupliTrade and ZuluTrade, two of the most popular platforms on the market for automated copy trading services. Both copy trading platforms are intuitive and transparent. They offer a simple, easy-to-use interface that allows you to duplicate trading positions of expert traders directly into your live AvaTrade forex trading account.
AvaTrade does not charge a commission fee for copy trading, only taking profits from the bid-ask spread. Most brokers charge a commission fee for copy trading, which is a massive benefit for beginner and advanced forex traders.
AvaTrade’s copy trading platforms allow you to search for signals in real-time, follow market trends and expert trading strategies, and duplicate automated trades on a live account. You can link a MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading account to the social trading platforms.
AvaSocial, DupliTrade and ZuluTrade comprise a network of audited traders with successful forex trading strategies. AvaTrade publishes a list of select strategy providers on the three platforms, each with their own trading methods and styles.
AvaTrade was founded in 2006 and is regulated by multiple top-tier authorities, including the FSCA in South Africa, ASIC in Australia, CySEC in Cyprus, FSA(JP) in Japan, BVI in the British Virgin Islands, and the FSC in Seychelles. AvaTrade is a safe and reliable global forex and CFDs broker and accepts forex brokers in Africa.
DupliTrade is one of the most popular automated copy trading systems in the world. It is supported by many leading forex and CFDs brokers as an alternative to Trading Signals on the MetaTrader 4 (MT4) and MetaTrader 5 (amt5) trading platforms.
The copy trading system is an innovative means of automating trading on MetaTrader (MT4 and MT5) trading accounts. DupliTrade does not require traders to install plugins, simply link DupliTrade to their trading account and copy the trades of published trading strategies.
DupliTrade is ideal for beginner copy traders, providing an intuitive interface for new traders with no or limited experience to connect with a community of audited forex trading experts. The copy trading platform allows you to search for signals and tips in real-time and duplicate the trading methods and strategies of one or more expert forex traders.
DupliTrade is not a forex broker. It is a web-based trading software supported by global forex and CFDs brokers. It does not need to be installed as a separate program.
Register an account with a regulated forex broker that partners with DupliTrade. This list of regulated broker partners is available online once you log onto a DupliTrade demo account. Link your MetaTrader account, and you are ready to start automated trading. DupliTrade signals and tips are sent directly to the MT4 account that you currently use to trade forex and CFDs.
📱 Trading Desk
No Trading Desk
📈 Total Pairs
🕒 Account Activation Time
eToro is a global forex and CFDs broker and an innovator in the field of social trading. eToro specializes in social and copy trading and offers new, inexperienced and seasoned traders the opportunity to trade forex and CFDs on multiple assets in real-time on a simple, easy-to-use proprietary trading platform.
Beginner traders gain valuable insight and experience by following and copying expert traders who share their trading strategies, signals and tips on the platform for a fee. Experienced traders use eToro’s social networking platform to grow their follower base and monetize their advanced forex and CFDs trading skills.
eToro provides innovative copy trading technology that allows forex traders in Africa to automatically duplicate trades made by expert traders without incurring management fees and other hidden costs. Their products include OpenBook and WebTrader. Traders worldwide share live signals and tips, learn from each other and boost their earnings by capitalizing on their collective trading power.
eToro lists an extensive list of active traders you can copy, categorized by the number of followers, the markets they prefer to trade, returns and risk scores.
eToro requires a minimum deposit of about $200 to open a copy trading account and sets a minimum value of about $1 for every position copied. It’s simple and very convenient to copy traders on eToro. All you do is click on the icon of the expert trader you would like to copy, enter the total amount for the simulated position and select the Copy button.
eToro does not charge a deposit fee or commission. The broker makes a profit or loss on the bid-ask spread. eToro does charge a minimum $5 withdrawal fee which makes the online broker a slightly more pricey option than other leading forex brokers.
eToro also offers CopyPortfolios, which allows investors to copy multiple market-based investment portfolios automatically. This includes Top Trader Portfolios and Market Portfolios that combine investment portfolios with CFDs on stocks, commodities and ETFs in bundles. The broker’s investment committee manages CopyPortfolios, and the minimum investment amount is $1 000.
eToro is a multi-regulated broker that was founded in 2007. The fintech company is regulated by the FCA in the United Kingdom, CySEC in Cyprus, ASIC in Australia and FSA in Seychelles. eToro is regulatory compliant and is a safe and reliable broker for copy traders in Africa.
MetaTrader ǀ Trading Signals
Trading Signals is a copy trading tool provided by both MetaTrader trading platforms (MT4 and MT5). Trading Signals allows forex traders to automatically copy trading operations in real-time from one trading account to another. Successful traders become signal providers to monetise their trading expertise.
Successful traders allow online retail traders access to their trading strategies and signals for a reasonable fee or free. Traders pay a subscription fee to follow expert traders, and their exact trades are automatically executed on their MetaTrader trading accounts.
MetaTrader offers one of the largest communities of signal providers. Traders have access to hundreds of free or paid signals, and you can run MetaTrader Trading Signals on a demo and real account on both MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
You can access the expert signal providers on the MetaTrader platform through the Signals tab in the terminal window. Choose an audited provider and subscribe to their trading signals. The signal providers are classified on various parameters, including the number of followers, assets under management (AUM), maximum drawdown and returns.
NAGA ǀ AutoCopy
Dealing Desk with DMA and STP
NAGA Web Trader, MT4, MT5, iSO and Android Apps
📈 Total Pairs
📈 Max. leverage
Naga is a regulated broker that specializes in social trading. It offers an innovative feature called AutoCopy that allows beginner and advanced traders to share and copy strategies to trade multiple financial assets, including forex, cryptocurrencies, stocks, commodities, indices and ETFs.
Clients use the AutoCopy feature on the broker’s proprietary copy trading platform or the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Clients copy expert traders and investors who, in turn, receive money for sharing their trading strategies, signals and tips.
Naga Group AG was founded in 2015, and its headquarters are based in Cyprus. Naga Markets Limited operates under the Naga Group AG and is regulated by CySEC in Cyprus and the FCA in the United Kingdom.
Licensed and Regulated in the EU, Japan and USA
📈 Total Pairs
ZuluTrade is one of the largest social trading communities in the world, offering automated trading and customer-focused investment solutions. ZuluTrade is not a broker. It is an online social and copy trading platform, which allows retail forex and CFDs traders to copy expert traders. The social benefit of ZuluTrade is retail traders can connect with a vast network of experienced traders.
ZuluTrade executes over $800 billion in trade volume and has over one million users, comprising signal providers and followers. Signal providers are expert traders willing to share their trading strategies, signals and tips for a nominal fee. ZuluTrade followers copy the signal providers’ trading strategies and portfolios created by other users.
ZuluTrade was founded in 2007 to provide a web-based platform to audit global traders and offer an open forum for retail and institutional traders to share their expertise and knowledge. ZuluTrade includes valuable information on the financial markets and a service to execute forex and CFDs trades rapidly.
The founders of ZuluTrade, Leon Yohai and Kosta Eleftheriou, originally built the software to duplicate the order executions of the best traders in the world. Today, ZuluTrade is supported by the leading forex and CFDs brokers in the world.
In 2014, the fintech company introduced ZuluGuard. This account protection feature monitors traders’ behavior and removes any trader who deviates from its expected loss portfolio. The fintech company has also partnered with SpotOption, a social trading platform for binary options.
It is easy to use ZuluTrade; you simply register an account with ZuluTrade and connect your current MetaTrader (MT4 or MT5) trading account to the trading service. Select the signal providers or portfolio investors you would like to copy based on your risk appetite and available investment capital.
ZuluTrade makes money by charging a commission per trade for linking to ZuluTrade and on the bid-ask spread. The spread is zero pips if you use the fintech’s own broker (AAAFx) and is three pips if you use another regulated forex and CFDs broker. ZuluTrade also charges an overnight swap/rollover fee.
The ZuluTrade trading services allow you to copy trades on currency pairs, stocks, binary options and commodities. You can use ZuluTrade on its web-based platform, download the ZuluTrade trading app or implement it on your MetaTrader (MT4 or MT5) trading platform.
ZuluTrade has also introduced a revolutionary Profit Sharing Programme designed to protect followers. The program only pays traders when a user’s account is profitable. The more profits accumulate in the accounts of followers, the more traders are compensated. This payment system motivates traders to maximize their returns and not take unnecessary risks with investments.
FOREX TRADING AFRICA DISCLAIMER
Forex and CFDs are complex instruments, and trading these instruments come with a high-risk warning. Trading forex and CFDs involves a high risk of losing money rapidly due to leverage and margin. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.
Forex Trading Africa annually reviews brokers and financial instruments and provides information to help traders and investors make better decisions when trading on global markets. The information is published to help improve your knowledge and understanding of international multi-asset trading and market participants.