The Best 5 Crypto Copy Trading Platforms in 2023
Copy trading is a system of trading that allows new traders to copy the trades of pro traders. This system is becoming increasingly popular in crypto because of its potential to help new traders make money while learning how to trade. There are many platforms where you can engage in copy trading, but here are five of the best to use in 2023.
eToro is a top choice when it comes to copy trading worldwide. It has its headquarters in Israel, but traders use it from all over the world. If you’re new to crypto trading, you can use it to copy the trades of more experienced traders and make some money while you learn from them.
Doing so cuts your chances of loss significantly so that you too can win. All you have to do is sign up, get verified, and then look for pro traders to copy. You don’t have to worry about paying the traders, because there are no fees. sign up, copy trades, make money, and learn.
2. Coinmatics
Coinmatics is solely a platform for copy trading, unlike eToro which supports all kinds of trades and assets. You can find excellent traders willing to let you copy their trades, sometimes free of charge. It’s solely up to the trader to decide how much you’ll pay, as long as you agree on the.
If you don’t wish to copy their trades literally, you can decide to just receive signals they provide through their Telegram or any other channels. Unlike eToro, Coinmatics charges a commission based on how much profit you make whether from copying other traders or by subscribing to their signals.
Binance, OKX, Bybit, and FTX are among exchanges supported on Coinmatics. You’ll need to subscribe to a plan to start using the platform. There are two plans – the Lite plan costs $15 monthly, or $10.50 per month charged annually. The second is the premium which costs $30 per month, or $21 per month if charged annually. Anyone from any part of the world can use the platform.
3. Bybit
Bybit is a cryptocurrency exchange based in Singapore. It is reputed as one of the exchanges with the lowest fees and is easy to use. Bybit supports copy trading in addition to other forms of trading. As a complete beginner, you can copy the trades of professionals on Bybit easily. You’ll however pay the trader a 10% fee on the profits you make.
You can trade up to 15 pairs on autopilot, and you can even use up to 100X leverage to amplify your gains. You should know however that your losses will be amplified too should the trader you’re copying lose. Your trades will be automatically executed once you set your preferences.
You can use Bybit wherever you are, unless you’re from one of these countires or regions: The U.S, Quebec (Canada), Singapore, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Sudan, and Mainland China.
4. MoonXBT
If your goal is to copy more than one trader at a time, MoonXBT is one of the platforms you can use. Having the reputation as the first ever social trading platform, the platform lets you copy two or more traders at a time by splitting your portfolio. This strategy helps to reduc risk should one of the traders lose.
Up to 10% of your profits is used to compensate the trader you copy if you end up with a succesful trade. Like Bybit, you can trade with leverage on MoonXBT, up to 150X for BTC pairs. It is also accessible globally and anyone can use it for copy trading.
5. CopyMe
As the name suggests, CopyMe is solely a platform for crypto copy trading. You can split your portfolio and copy multiple traders at once.
Orders are executed fast, once you register and set up your exchange keys. You then need to allocate how much of your portfolio you want to each trader and start trading. It is highly flexible, allowing you to switch traders at any time.
Start Copy Trading
Interested in copy trading? You can start trading today with any of the above platforms. They don’t require coding or any special knowledge, so anyone can use them.
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