Are you a beginner trader looking to earn profits? Or Someone who is busy and yet wants to make extra benefits that crypto trading offers? Then copy trading is right for you. Here in this article, we will be learning about the best crypto trading platforms.
Table of Contents
- The top seven copy trading platforms include eToro, Bityard, Bitget, BingX, PrimeXBT, MoonXB, and Gate.io.
- One of the most accepted copy trading platforms is eToro. Its ease of use and around 4 regulations make it a more trustworthy and appreciated exchange platform.
- eToro offers specific and regular monthly payments to professional traders.
- Bityard is another copy trading platform, with its availability in around 150 countries or so.
- The professional traders of bityard get 8% commission from the profits.
- Bitget is another platform available worldwide with branches in Japan, South Korea, Canada, and 8 other countries.
- BingX is our third top platform, which offers copy trading as it’s one of the products, and offers an 8% profit share of the daily net profit from their followers.
- PrimeXBT and MoonXBT are new platforms formed in 2019 and 2021 respectively.
- Finally, Gate.io has been in the crypto world since 2017 and offers many products and services including copy trading to traders, with professional traders earning 5% profit share of the daily net profit from their followers.
1st Top Copy Trading Platforms: eToro
What is eToro?
The eToro is one of the famous copy trading exchanges promoting themselves as a social trading platform. It was founded in 2007 and is known as one of the founders of copy trading. It’s an easy-to-use trading platform, with investors investing across 2300 instruments, including popular cryptocurrencies, CFDs, Forex, and exchange-traded securities. Further, it has been operating under various jurisdictions and has been regulated by multiple investors, including Cypriot regulators CySEC (eToro Europe), British Regulator (FCA), and Australian regulator(ASIC).
|Countries Availability||Available in 140 countries|
Not available in Japan, Pakistan, and a few other countries.
Also not available in a few states of the US
|Available Cryptocurrencies||30 cryptocurrencies|
100+ crypto trading pairs
|Copy Trading Fee||No exchange fee|
|General Fee||Deposit: free |
Inactivity: $10 per month
|Professional Traders Payment||Receive monthly payments based on their level or tier|
|Order Types||Market Order|
Trailing Stop Loss
|Minimum Investments||Copy Trading – $200|
Copy Investment Profiles – $5,000
|Average Return Rate||29% – top 50 traders|
|Leverage||1:2 for cryptocurrencies (currently unavailable)|
|Demo Account||Yes with $100,000|
|App Availability||Android and iOS|
How to become a professional trader on eToro?
To earn a passive income on eToro through eToro copy trading, it offers the Popular Investor Program. Under this program, talented and experienced investors can earn a specific amount annually based on their level. Follow the below steps to apply for this program:
- The first step is to create an account on eToro, which takes only a few minutes.
- To apply for the program, make deposits.
- Also, note that the equity needs to be greater than $1000.
- Now, you have to be patient and trade for at least two months.
- Further, while trading, you need to maintain the maximum risk score lower than 7, and that too for at least six months.
- Besides that, you also have to manage the maximum risk score lower than 8 for the next 12 months and a risk score of 7 when you apply for this program.
- Please, note that, while maintaining the above points, you also need to abide by the leverage restrictions.
- The next part includes attracting copiers and attaining an AUM above %500.
- Complete your profile with the latest details, and write a biography of at least 150 characters to gain the trust of copiers.
- Last but not least, have an active feed.
Also, note that eToro divides professional traders into four ranks Cadet, Champion, Elite, and Elite Pro, depending on their AUM, Copiers, risk score, and others. Therefore, the requirements mentioned in the above points are for only the Cadet rank, the basic level or 1st level of professional traders.
Pros and Cons
|It provides enough filters to find the right professional trader.||It asks for high spreads.|
|No additional commission for copying.||The withdrawal commission is high.|
|It is one of the largest copy trading platforms.|
|eToro is a safe and transparent platform with regulations in the UK, EU, and Australia.|
|24/5 customer support availability.|
2nd Top Copy Trading Platforms: Bityard
What is Bityard?
Bityard is another one of the best crypto trading platforms, which is relatively a new exchange. It is based in Singapore and offers different products, including spot, derivatives, Forex, and copy trading. Furthermore, Bityard is a highly user-friendly platform, which provides leverage up to 125x, crypto-to-crypto conversions, low fees, copy trading fiat deposits, and much more.