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BEST FREE Copy Trading Software _ Apps

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Platforms for Cryptocopy Trading | Describe Copy Trading.


The majority of the time, copy trading, social trading, and mirror trading are the same. Whatever you want to call it, all you need to do is grasp the idea: you simply let someone else create your trading strategy by directly duplicating all of their transactions. The automatic mode is the best choice, although the manual one is also an alternative.

Why are novice traders so fond of copy trading?


People who want to learn how to trade independently may find it helpful to copy professional traders.
With minimal skill required, it is the fastest and most profitable way to enter the cryptocurrency market.
Trading participants risk their own money when conducting trades for the copy in accordance with the principle of being in the same boat. Furthermore, they only profit when you do.

Why are novice traders so fond of copy trading?

  • People who want to learn how to trade independently may find it helpful to copy professional traders.
  • With minimal skill required, it is the fastest and most profitable way to enter the cryptocurrency market.
  • Trading participants risk their own money when conducting trades for the copy in accordance with the principle of being in the same boat. Furthermore, they only profit when you do.

For beginners, the best cryptocurrency copy trading software

The best copy trading broker is BitYard.


Established in 2014, BitYard is a well-known trading platform for crypto derivatives. Additionally, it provides access to the international cryptocurrency market via spot trading, CFDs, and copy trading. BitYard is based in Singapore and has a sizable organization that spans more than 150 countries, thus it enables its traders to conduct business regardless of their nationality.

Features of BitYard

  • When a user registers for an account, BitYard Trading will award them with 258 USDT as an incentive.
  • Its website is straightforward, user-friendly, and offers users a quick trading experience.
  • Each and every trader is offered a complete return guarantee.
  • The platform allows customers to create a sample account to test their website.
  • The website enables users to trade cryptocurrencies with one another and buy well-known cryptocurrencies.
  • With BitYard, you may trade futures with a leverage of roughly 200x and cryptocurrencies with a leverage of up to 125x.

BitYard Fee Structure

Spot handling fees:

  • The maker’s fee is 0.1%
  • The taker’s fee is 0.1%
  • The conversion fee is 0.1%

CFDs:

  • The transaction fee is from 0.75% to 0.05%.
  • Opening and Closing fee of the platform= Margin*Leverage*0.05%.
  • When opening a position in BitYard, it will charge 0.1%.

Derivatives:

  • Opening and Closing fee of the platform= Margin*Leverage*0.025%.
  • When opening a position in BitYard, it charges 0.05%.

BitYard: Pros and Cons

BingX — Exchange + Copy Trading App

The 2018-founded cryptocurrency social trading exchange BingX provides copy, spot, and derivatives trading services. It provides service to more than 100 nations worldwide. As a bitcoin social trading network, the site is dedicated to providing users with access to cryptocurrency trading ideas and making sure that everyone who uses it invests does so in a straightforward, engaging, and transparent manner.

The platform also offers commodities, other contract trading products, worldwide indices, an automatic copy trading tool, and top forex copy trading.

  • Features of BingX
    With the ‘Exchange’ feature, traders may quickly exchange one cryptocurrency for another with only one click.
    All traders who desire access to a more sophisticated trading platform can find it with BingX. The platform offers its traders a user-friendly interface that is both basic and modern and can be used on PCs and mobile devices.
    The software also offers multiple talking tools, overlays, and charts with indications.
  • Every time a new account is established on the BingX platform, the company gives the user 100,000 VSD tokens, which are virtual-based currency. On the platform, these tokens can be exchanged without making a real deposit.
    All BingX traders have access to the copy-trading feature. With this choice, you can mimic some of the fantastic trading techniques used by experienced traders. Professional traders receive 8% of the overall earnings made in exchange for sharing their ideas.
    BingX also provides access to conventional marketplaces. Therefore, it is possible to speculate on price changes in markets like currency, indices, and commodities.

BingX Fee Structure

  • Trading Fees: For both opening and ending a position, BingX charges the same trading fee of 0.075%. Trading commissions on BingX are 0.075%.
  • Deposit Fees: There are no deposit fees when depositing cryptocurrencies to BingX.
  • Fees for Withdrawals: To withdraw ETH or BTC, the platform charges a fee of 0.007 ETH or 0.0005 BTC. As a result, the cost for a stablecoin withdrawal on BingX might be up to USD 28 per transaction.
  • Fees for Withdrawals: To withdraw ETH or BTC, the platform charges a fee of 0.007 ETH or 0.0005 BTC. As a result, the cost for a stablecoin withdrawal on BingX might be up to USD 28 per transaction.

BingX: Pros and Cons

PrimeXBT
One of the top Bitcoin trading platforms is PrimeXBT. It supports more digital currencies like Ripple, Litecoin, and Ethereum. Without KYC, you may establish up and begin trading in about 40 seconds.

  • XBT Prime Features
  • The website is simple to use and browse. The Trading Tools menu is where you can find the copy-trading function. We do think it would be better to put it in the header menu, though. Additionally, “Copy Trading” and “Covesting” are distinct names on the menu and copy-trading page. The new merchants for whom the function is meant are frequently baffled by these changing names.
  • Trading with 100x Leverage: The platform offers trading with 100x Leverage. Only 1% of your trading funds must be deposited to begin trading.
  • Supported Coins: The site offers support for 17, one more than eToro, of cryptocurrencies.

XBT Prime fees
Each trading pair and trading feature has an own set of trading costs. The fee for standard trading is 0.001%, while it is 1% for copy trading (follower fee).

Pros and Cons of PrimeXBT

Bybit

One of the largest cryptocurrency exchanges, Bybit, just launched copy trading services.

The nicest thing about Bybit copy trading is that there are no extra fees associated with copy trading.

10% of the net profits of principal traders (the Trader you follow) will go to them. So, if there is no profit, the primary trader will not be paid.

However, Bybit permits leverage of up to 100x, which appears to be exceedingly careless. Any exchange, in my opinion, shouldn’t let copy trading with leverage greater than 10x.

Please see the Bybit copy trade FAQs if you have any additional inquiries.

Traderwagon

One of the most recent copy trading brokers that helps novice and seasoned traders alike is Traderwagon (TW). It is one of the most well-known cryptocurrency replica trading platforms around. There are numerous copy-trading features and alternatives available. Additionally, it is a platform that connects both advanced and novice traders. Users can use TraderWagon to find, track, and replicate trades made by the top traders in the world.

Benefits: Money is sent right away. Low trading costs are maintained. Other services it provides include Smart, which enables users to build their own trading websites.

Cons: There aren’t many currencies available for trading. One hundred dollars is the minimal amount needed to invest.

Security is their top priority, according to them. The essential protections are always in place to secure user payments and personal information.

Coincodecap (For Portfolio Management)

The wonderful thing is that the people behind CoinCodeCap are highly qualified and vetted crypto experts. It is a platform for crypto signals that offers all of the essentials for a beginner crypto trader. The platform’s analytical team keeps an eye on crypto market signals. Additionally, it is also known as CoinMonks, which offers articles and videos that improve crypto and blockchain literacy.

Pros: Customer service is available via email and live chat every day of the week. On CoinCodeCap, you may watch instructional videos. With their crypto signals, Cornix is simple to set up and offers a 14-day trial period! Subscribers to YouTube get access to useful resources including real-time market analysis.

Cons: The website is only available in English, and there is no insurance fund. There are only a few coins with signals.

3Commas – Free Copy Trading Strategies

a marketplace that offers to duplicate trading tactics that are made available there. In addition to providing Bitcoin and cryptocurrency trading bots, 3Commas also features a market place where seasoned traders may share their trading approaches with other platform users.

Therefore, all you need to do is copy the trading strategy to your account, and the crypto bots will take care of the rest by placing buy or sell orders on your 3commas account automatically.

The impressive list of cryptocurrency exchanges on which automated crypto trading is possible is one of the benefits of 3Commas Blog. These exchanges include Binance, Binance US, Binance DEX, Binance Jersey, Kraken, Bitfinex, Bitmex, Bitstamp, Bittrex, Bybit, CEX, Ethereum Wallet, Exmo, Gate.io, Coinbase Pro, Hitbtc, Huobi, Huobi US, Kraken, Kucoin, OKex, Polon

Security: The money is not kept on the trading bot site, and withdrawals are not permitted.

Pros: A large number of supported exchanges; a solid reputation; a great user interface; and.

Cons: Not all exchanges allow for automated trading; creating bespoke bots without TradingView is challenging for beginners.

Pricing: Starter (14.50$/month), Pro (49.90$/month), and Advanced (24.50$/month); 3-day free trial of PRO plan. The cheapest package has fewer features.

MoonXBT

A crypto derivatives trading platform with boundless potential and unmatched bargains is MoonXBT, which made its debut in 2021. The platform is available in more than 200 countries, and it is well known for its unique light trading contract. On its platform, copy trading was just included. With the use of this feature, users can carefully duplicate seasoned and extraordinary traders.

Benefits: It ensures significant liquidity. Additionally, it has a clear K-line price. swift transactional flow. No deposit charges.

Cons: The platform is rather young. There are only a few cryptocurrencies in circulation.

Security: To maintain the confidentiality of your personal information and to guard it against loss, abuse, unauthorized alteration, or destruction, MoonXBT has put in place technical and organizational security measures. Your Personal Information is only accessible to MoonXBT employees who are allowed to do so.

Wunderbit

Another cutting-edge cryptocurrency-focused social copy trading platform worth mentioning is Wunderbit. Using automated trading bots, bitcoin investors can trade independently or mimic the moves of seasoned cryptocurrency traders. Additionally, users have access to smart trading terminals. Binance, Binance Futures, Deribit, FTX, FTX US, Bybit, Kucoin, OKEX, HitBTC, and Kraken are supported exchanges in Wunderbit.

Security: Due to API limitations and 2FA, payments are secure.

Pros include a wide selection of exchanges, open trader records, convenience of use, more than 2000 users, a private Buy Sell exchange, the availability of copy trading terminals and bots, and the option to use an exchange for free for the first month.

Cons: Limited user base; no good traders to replicate; sluggish customer service.

Pricing: profit-sharing model (free for the first month, then you must share No monthly fees; 30% of your profit every two weeks.

eToro Copy Trading

In fact, eToro is a social trading pioneer. It has the market’s most cutting-edge social trading capabilities. It enables you to trade in currencies, commodities, equities, and exchange-traded fund contracts (CDFs). More than 16 cryptocurrencies are now supported.

The FX copy trading function on eToro is intriguing. Social investing, as opposed to traditional copy trading, lets you imitate other traders’ trades with varying degrees of risk and exposure. In this manner, you can reduce the danger of losses if you so like and are not fully reliant on the actions of other traders. The fact that traders can create their own blogs makes this service similar to a social network for investors.

For the 50 most copied traders in 2019, eToro Official claims that copy traders made an average profit of +29.1% per year.

Etoro is fully governed by the FCA and CySec. Industry-leading security mechanisms guard your money, and no private information is shared without your consent.

Benefits include a wide range of instruments, a trustworthy, regulated organization, and the traders’ opportunity to establish a blog where they can interact with others bots and clone trading terminal accessibility.

Cons: Inactivity fees, the lack of crypto deposits (only dollar deposits), delayed customer service, the need for a charge for withdrawals of funds, and the fact that the tool can be challenging for beginners due to the verification process.

Pricing: eToro Official charges for spreads, and only withdrawals are subject to a $5 cost.

Shrimpy

A cloud-based cryptocurrency trading platform is ShrimpyApp. Shrimpy enables users to set up a portfolio of cryptocurrency assets, choose the percentage weighting of each coin’s value inside the portfolio, and schedule automatic portfolio rebalancing at predetermined intervals.

Other features of ShrimpyApp include Social (for following other traders’ techniques), Insights (for learning how other Shrimpy users manage their portfolios), and Backtesting. Binance, Binance US, BitFinex, Bibox, Bittrex, Bittrex Global, Bitmart, Bitstamp, Coinbase Pro, Gemini, HitBTC, Huobi Global, Kraken, KuCoin, OKEx, and Poloniex are just a few of the numerous exchanges serviced by Shrimpy business.

Security measures include two-factor authentication, API key encryption, and a fully secured HTTPS protocol (with SSL).

Pros include automatic rebalancing, security precautions, and a wide number of supported exchanges (16 distinct exchanges!).

a useful referral system.

Cons: not found.

Cost: a recurring monthly membership cost. Difference: Users can construct a portfolio and connect to their exchange account with a free Hodler subscription. All Shrimpy features, such as Custom Index builder, Rebalancing, Backtesting, Social Trading, and Insights, are included in the Professional bundle.

Zignaly

For Binance and other exchanges, Zignaly is a social crypto copy trading platform that specializes in serving the needs of cryptocurrency users and investors. By establishing connections between various crypto exchanges using API keys, investors can build trading portfolios. Fans of KuCoin and Binance adore this service.

How do you trade copy? Make an account on Zignaly, connect your exchange using API credentials, and select which of the numerous cryptocurrency traders you want to follow.

Overall, Zignaly Zignaly is a fantastic site for copying other traders, and it can certainly reduce the stress brought on by markets that are as unpredictable as cryptocurrencies are prone to becoming.

Security

We took the platform’s security carefully when we were building it. Your funds are completely secure because we don’t demand withdrawal privileges and we execute the trading orders on the exchange on your behalf.

Advantages: easy-to-use interface; cashback on trading expenses; availability of copy-trade + terminal + bots.

Cons: not found.

Pricing: Using the platform is free; copy trading is also free, however there are monthly membership fees on traders that range from $5 to $500; there is a 14-day trial period.

Questions and Answers

How can I pick the top copy trading applications?

Choosing the finest copy trading platform for you is not simple. When selecting a copy trading software, there are numerous things to take into account.

You should carefully review the following in copy trading apps:

  • Regulation: The broker or copy trading program you use must have a license from the relevant authorities.

  • Security: Avoid copy trading apps that ask you to deposit money because the majority of copy trading now requires one (apart from the crypto exchanges that offer copy trading). (Except when they’re trades)

  • Top-notch traders to imitate: The best copy trading apps include requirements for traders who are both available as copy traders and leaders. such as their history with leverage, risk-reward ratio, and trader success. Additionally, they won’t permit copy traders to use more than 20x leverage.

  • Transparency: Copytrading applications need to give you all the information possible about the traders you can mimic. In order to understand their performance, you can analyze their trading approach.
  • Finding Successful Traders: Most forex social trading platforms make it easier to identify the traders who give the best return on investment. However, you should verify whether or not they count their losses against the ROI. And the amount of leverage they gave these traders.

Copy trading is it legal?


Yes, copy trading restrictions are comparable to trading regulations. But it varies according to your jurisdiction. You shouldn’t be concerned if your broker or exchange is governed by legal authorities, authorized, and crypto trading is legal where you live.

Which Copy Trading Platforms Are the Best?


A list of the top Copy Trade programs is provided below:

(This is our own service and it’s for long-term portfolio development) Bityard, BingX, eToro, and CoinCodeCap

What is the Process of Copy Trading?
You must comprehend the principles of copy trading. Copy trading is, as the name implies, just replicating deals. You can copy a trader’s trades into your account if you follow them. In other words, the same trades that the trader you are following opens in their account also open in yours. Leverage and lot size are variables that you can control.

I advise letting the trader you are following decide on the leverage and lot size.

To grant access, you must create API keys and establish a connection with copy trading software. Please make careful to only grant permission for trading-related activities; do not grant permission for withdrawals.

These days, cryptocurrency exchanges offer duplicate trading services; in those circumstances, API keys are not required.

Why Do Copy Trades?


We can learn wisdom in three different ways: first, by reflection, which is the highest form; second, by imitation, which is the simplest; and third, by experience, which is the most painful. — Confucius

Trading is a talent that requires constant practice; it is not simple. Furthermore, not everyone has the time or skills necessary to be a successful trader. As a result, it is considerably simpler to replicate a successful trader.

The trader you follow will earn when you profit since incentives are built up that way. It’s a win-win situation because the trader you follow is working for themselves.

Is trading copying profitable? Is there a risk involved with copy trading? 💲
Copier trading is effective. You must, however, exercise extreme caution.

By following traders without examining their prior trades, I have been REKT a few times. You can read about my copy trading experience.

Also, keep in mind the phrase “High Risk, High Reward.” Therefore, if somebody guarantees big returns, there must be a greater risk.

If you are new to copy trading, you need to keep a few things in mind.

  • Examine the traders’ trading records to see who to follow.
  • Give yourself three portions of cash. Choose different traders for each of these: a small fraction for high-risk trading, another percentage for medium-risk trading, and a good position for low-risk portfolio development method.
  • Once you are familiar with the trader’s trading style that you are following, start off small and gradually raise your stake.
  • Avoid traders that use more leverage than 10x.
  • You cannot afford to lose money if you invest.
  • You can use our internal copy-trade system to build your portfolio over the long run.

What distinguishes mirror, social, and copy trading?


Brief details and the primary distinctions between the three trading platforms are provided below:

Online trading

By imitating more seasoned traders, social trading enables rookie traders to pick up tips and make investments. The majority of these systems include social media-like elements that facilitate a sense of community.

You can converse with other traders, share your technical analysis, and leave comments on other traders’ posts as you engage in binary option social trading.

Copy-trade

A software program called Copy Trading is primarily concerned with enabling essential trading functions rather than with community interaction.

They enable futures and margin trading for markets including FX, cryptocurrencies, and stocks and give in-depth trader research. The majority of copy trading platforms concentrate on providing tools for trading automation for their techniques.

Metaphor trading

With mirror trading, you can mix the methods and strategies used by great traders. Mirror trading consequently offers more precise and consistent trading indications. For investors who wish to learn everything about forex trading, they are ideal.

Who are some trustworthy traders at eToro? 🚀


Jeppe Kirk Bonde (jeppekirkbonde.etoro.com):
Since January 2017, Olivier Danvel (etoro.com/people/olivierdanvel) has traded mainly FX during the green months. His target has been very consistent thus far, 1% per month.
Mariano Pardo: Fourth consecutive year with returns above 25% (etoro.com/people/marianopardo)
Low risk score (3), excellent 2019 year according to BalanceAM (etoro.com/people/balanceam). seems to be growing in popularity nowadays
Since 2014, Libor Vasa has had yearly positive returns (etoro.com/people/liborvasa).

The Best Copy Trading Software:
Among cryptocurrency investors who want to start generating passive cryptocurrency income over time, social trading is growing in popularity.

Copying trades appears to be highly alluring to novice traders who are just beginning their trading careers. Everything is automatic; buy and sell orders are operating round-the-clock trading in the background.

A professional trader is also subject to the same rules. It makes sense to allow someone else trade for you and follow their lead if you simply lack the time to monitor charts.

Despite this, we nevertheless advise against mindlessly following traders and to continue learning for yourself. You won’t have to entrust anyone else with your trading in this manner, and you’ll learn something invaluable.

Please share this article if you found it useful. Let’s promote investing in the cryptocurrency markets. The future is blockchain.

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