Best Copy Trading Platforms for Cryptocurrency Investors

Copy trading has become an increasingly popular way for beginner cryptocurrency investors to get started in the markets. Copy trading allows you to automatically copy the trades of experienced traders on a platform. This removes the need to do your own market analysis or come up with trading strategies.

Instead, you can piggyback off the knowledge and success of proven cryptocurrency traders. But how do you know which platforms offer the best copy trading services?

In this guide, we’ll compare the top copy trading platforms for cryptocurrency and highlight their key features. The platforms included are:

• eToro – The largest social and copy trading platform for crypto trading, forex trading and more
• Avatrade – Regulated crypto CFD and forex broker with copy trading services
• Bybit – Cryptocurrency derivative exchange with copy trading
• Bitget – Leading crypto copy trading exchange

How to Choose a Copy Trading App

Choosing the right platform is critical to get the most out of crypto copy trading. Here are some key factors to evaluate:

Platform Fees and Commissions

• Account signup and maintenance fees
• Commission rates charged on copied trades
• Spreads, transaction fees, and conversion fees
• Inactivity, withdrawal, and deposit fees
• Data usage and API access fees

Compare fee structures across platforms to calculate total costs. Fee tiers and discounts for higher volume traders may be available.

Platform Tools and Functionality

• Trader screening, filtering, and leaderboards
• Automated copying mechanisms and trade customization
• Portfolio analytics, reporting, and management tools
• Risk management features and controls
• Social engagement capabilities
• Mobile app availability

Look for platforms tailored to copy trading like aligned entry/exit signals and one-click execution.

Trader Community and Network Effects

• Number of traders able to copy and diversity
• Incentives offered to attract top trading talent
• Forums and social features to engage with leaders
• Track record transparency and ability to evaluate leaders

A large, skilled trader pool indicates strong network effects. Vet trader statistics carefully before copying.

Security and Compliance Standards

• Regulator registrations, licensing, and jurisdictions covered
• Fund segregation and custody measures
• Platform insurance policies if applicable
• Independent audits and transparency reporting

Prioritize regulated platforms that follow best practices for data security and compliance.

Customer Support and Learning Resources

• Availability of multilingual customer support
• Educational guides, tutorials, FAQs for copy trading and copy trade software
• Onboarding assistance and account management
• Discussion forums and knowledge bases

Look for sufficient resources to learn copy trading best practices before getting started.

Copy Portfolio Management Capabilities

• Ability to customize copied trade sizes and limits
• Ways to rebalance or diversify your copy portfolio
• Tools to monitor performance and trading activity
• Flexibility to pause, stop or close copy trades

Robust copy portfolio management ensures you stay in control and can optimize returns.

Evaluating platforms across these key criteria will help identify the best fit for your crypto copy trading needs. Prioritizing the areas that align with your goals and risk tolerance is recommended. Test driving platforms via demo accounts is also advised.

How Does Copy Trading Work?

Before diving into the platforms, let’s first understand how copy trading works for cryptocurrency.

It is also known as social trading or mirror trading, letting you follow the trading strategies and copy the trades of successful “signal providers” on a cryptocurrency exchange or platform.

The basic process is:

1. Browse traders – Browse successful traders on the copy trading platform
2. Check stats – Verify their track record, risk metrics, followers etc.
3. Copy trades – Allocate capital to automatically copy their trades
4. Manage copy – Optionally customize the copy parameters
5. Sit back – The trader’s trades are copied to your account

So instead of actively trading yourself, the copy trading platform lets you be a passive investor and mimic other traders. The copied trades can include buys and sells of cryptocurrencies like Bitcoin, Ethereum, Litecoin or others.

Some key benefits of copy trading include:

• Requires zero trading experience
• Leverages expertise of pros
• Potential for hands-off income
• Diversifies your trading portfolio
• Low barrier to get started

Now let’s compare the top platforms for accessing these benefits.

Best Copy Trading Platforms and Exchanges

There are a growing number of platforms that allow copy trading cryptocurrencies and other assets:

• eToro – Leading social trading platform that supports major cryptocurrencies, stocks, ETFs, and CFD trading.
• Bybit – Crypto exchange that offers automated copy trading tools and a trader leaderboard.
• Bitget – Provides copy trading for crypto including automated tools and quantitative rules.
• Avatrade – Trading platform with copy trading features for crypto, stocks, indexes, and commodities.

eToro – Best Crypto, Stocks and Forex Copy Trading Platform

eToro is widely considered one of the best copy trading brokers. Here’s an overview:

Key Features:

• Copy top crypto traders with one click
• Diverse social community with ~30M users
• Supports major cryptocurrencies like Bitcoin, Ethereum, etc.
• Intuitive mobile app to manage your copy portfolio
• Platform translated into 17 languages
• Segregated UK bank accounts to hold client funds
• Established security and regulatory compliance

Additional Features:

• Traders can share their live trades and strategies as “Popular Investors” on eToro. Other users can view their profiles and performance stats.
• Users can choose to copy specific Popular Investors using the CopyTrader tool. You can allocate a portion of your funds to automatically replicate their new trades.
• When a Popular Investor opens a position, the same trade is instantly copied proportionally into your account. All subsequent trade updates are also mirrored.
• You can replicate multiple users and assign different amounts of capital to each one to diversify and manage risk.
• Traders earn a commission on the profits generated by followers who replicate them. Followers keep the remaining profit after commissions.
• eToro offers stats like risk scores, ROI percentages, maximum drawdown, and more to analyze trader performance.
• The CopyTrader feed shows all trading activity from copied investors.

eToro stands out for its smooth user experience and interactive social features. Once you sign up, you can search and browse the platform’s Popular Investor program to find successful traders.

You can filter traders by geographic location, risk score, assets traded, and more. Key stats like ROI, winning percentages, and risk metrics help you analyze trader performance. You can even view and copy their live portfolios.

Once you choose a trader to copy, you allocate a specific amount of funds. All their future trades are then automatically replicated to your account proportionally. You can pause, stop or set custom limits on your copy trader allocation.

The social stream allows you to engage with the trader community through posts, comments, news and more. You can follow and copy fellow investors and the Popular Traders.

eToro also offers a free virtual trading account with $100,000 for you to try out copy trading risk-free. Overall, eToro is a great choice for traders looking for an established crypto copy trading platform alongside social engagement features.

Overall, eToro makes copy trading very seamless across cryptocurrency, stock trading, ETFs as well as forex copy trade. You can build a diversified portfolio replicating multiple high-performing users.

To get a more in-depth understanding of what eToro brings to the table, you can read our comprehensive eToro Platform Review.

Avatrade – Best Copy Trading App for Social Trading

Avatrade brings excellent copy trading services through its web platform and MetaTrader integration. Here’s an overview:

Key Features:

• Copy top Performing Traders with one click
• Over 1,500 instruments to copy including major cryptocurrencies
• Seamless integration with MT4 and MT5
• Guaranteed stop losses on copied trades
• Hedging capabilities
• Executive education and market analysis
• 24/5 customer support

Avatrade operates regulated entities around the world giving its clients regulatory protection. This includes Australia, Japan, Ireland and South Africa.

The copy trading module lets you evaluate trader statistics like profitability, top performing assets, risk and more. You can view full trade histories before determining who to copy.

Once connected, your account will automatically mirror the trader’s positions. You can customize parameters like trade size and stop loss limits.

An advantage of the broker is the deep integration with the MetaTrader 4 and 5 platforms. This unlocks a broader set of copy trading features directly through your MT4 or MT5 terminal.

The education resources and multi-language support provide great trading resources for beginners. Overall, it is ideal for copy trading within a regulated broker environment.

The Avatrade social trading dashboard makes it simple to find and automatically replicate top performers based on transparent performance statistics.

For a detailed breakdown of its features and trading conditions, check out our AvaTrade Platform Review.

Bybit – Best Cryptocurrency Exchange for Copy Trading

Bybit is one of the top cryptocurrency derivative exchanges, and also hosts competitive copy trading capabilities.

Key Features:

• Copy trade 100+ top performing experts
• Leaders ranked across durations from 24H to 30D
• $10,000 USDT bonus pool for top traders
• Customizable positions
• BTC perpetual swaps and options contracts
• Up to 100x leverage
• 24/7 multilingual customer service

Additional Features:

• Experienced traders can become “Bybit Traders” and share trading signals to earn commission on follower profits.
• Users can browse Bybit Traders profiles and statistics to find profitable traders with proven track records to follow.
• Using Bybit’s Copy Trading software, you can assign capital to auto-copy new trades from your chosen Bybit Traders.
• Bybit Copy Trading tools allow you to customize parameters like take profit, stop loss, and maximize drawdown per trader you copy.
• The leaderboard ranks Bybit Traders based on profitability, win rate, risk score, followers and more. Filters help find best traders.
• Ongoing trading activity and detailed records of closed positions are available on your Copy Trading account dashboard.
• You can pause, stop or modify copying any trader at any time. You retain full control over your account.

Bybit focuses exclusively on cryptocurrency derivatives like BTC and ETH perpetual swaps. These allow up to 100x leverage when trading the price movements. Bybit offers trading capabilities directly on these leveraged trading contracts.

The Bybit Trader Hub showcases traders ranked by profitability over days, weeks or months. You can view profiles, strategies and full trade histories to identify best performers.

Integrations with TradingView charts and technical indicators allow further trader evaluation for advanced trading.

By copying, you mirror the leader’s positions on BTC perpetual swaps and execute the same entries and exits. You can modify parameters like contract size and leverage based on your risk appetite.

Bybit also incentivizes top performing traders through bonuses and rewards programs. This brings in high caliber leader traders to follow.

Bybit copy trading is suitable for beginners thanks to the intuitive leaderboard ranking system and customizable risk settings per trader.

To explore why it’s becoming a go-to for many traders, read our complete Bybit Exchange Review.

Bitget – Best for Automated Trading Crypto

Bitget offers advanced copy trading capabilities tailored to cryptocurrency.

Key Features:

• Copy top performing traders with one click
• Leaderboard ranks traders by profitability
• Smart Trade terminal for aligned entry and exit signals
• Innovative Quanto Swap contracts
• Up to 100x leverage
• 24/7 multilingual support and operations

Additional Features:

• Bitget provides a feed of top performing trading bots and strategies created by veteran traders.
• Users can subscribe to any number of trading bots for automated buy and sell signals. Your account mirrors the trades of bots you follow.
• Choose between discretionary, grid, DCA, hedging, arbitrage and other bot strategies depending on market outlook and preferences.
• Bots can be customized upon subscription – adjust take profit, stop loss, position sizing and other parameters.
• Stats on profitability, win rate, ROI, drawdown and more help evaluate bot performance. The feed is ranked by returns.
• Bitget copy bots use API connections to user accounts to automatically execute trades via the selected strategies.
• Ongoing trading activity can be monitored through your Bitget account which mirrors all copied trades.

Bitget aims to provide an inclusive trading technology alongside social copy trading features.

The Bitget copy trading system provides detailed performance analytics on each trader. You can screen by Profit Rate, Win Rate, Risk Score and more to discover the best candidates.

The platform offers a Smart Trade terminal tailored for copy trading. It surfaces aligned entry, exit and stop loss signals between you and the trader. This provides additional insights when monitoring your copy portfolio.

In terms of assets, Bitget offers spot, futures, margin trading and options. A highlight is Quant Swap contracts that settle in a stablecoin like USDT vs Bitcoin. This avoids volatility in the denominating currency.

Bitget also runs incentive programs to attract skilled trading leaders. This creates a diverse roster of trading talent to follow.

Overall, Bitget focuses on making social trading automated and hands-off through pre-built trading bots deploying advanced crypto trading performance.

For a thorough analysis of its offerings, don’t miss our Bitget Exchange Review.

The Verdict – Which is the Best Copy Trading App for Social Trading?

To select the best copy trading platform, eToro, Bybit, Bitget, and Avatrade all offer strong social trading services, with some notable differences:

• eToro focuses on simplifying copying many human traders across stocks, crypto, ETFs etc. through an intuitive and social interface.
• Bybit provides more risk management settings when replicating selected human crypto traders. Leaderboard and statistics focused.
• Bitget takes an automated approach for hands-off copy trading via trading algorithms and bots.
• Avatrade has a dashboard to easily search, filter, and copy the best human crypto traders based on transparent performance stats.
• eToro and Bybit have more social features for interacting with communities of traders you want to copy.
• Bitget and Avatrade focus more on execution and trader stats rather than social features.

So in summary, eToro offers diverse assets and simplifies copying many human traders in a social environment, Bybit adds risk controls for selective copying, Bitget automates quant copy trading, and Avatrade provides transparent stats for easily replicating top-performing human crypto traders specifically.

How to Get Started With Copy Crypto Trading

Here are some tips when getting started with copy trading cryptocurrency:

• Assess risk appetite – Consider your personal risk tolerance and investment goals first
• Screen traders carefully – Vet statistics, history, user feedback and past performance
• Start small – Allocate a small portion of capital to copy trade as a test
• Utilize demo accounts – Practice trading in a virtual environment if unsure
• Monitor performance – Check in regularly on your copy trader’s activity
• Customize settings – Modify parameters like position sizing and stop loss based on your preferences
• Diversify – Copy trade multiple successful cryptocurrency traders to spread risk

The platforms profiled above all offer virtual trading accounts to test out copy trading risk-free. This lets you learn the ropes before putting real capital at stake.

Once ready, start trading small amounts like $500-$1000 to get your feet wet. Monitor the performance closely while continuing your own education. Over time you can optimize your approach and scale up your allocation.

The Bottom Line

Copy trading presents beginners with a fast and straightforward way to tap into established cryptocurrency trading expertise. It removes the need to develop trading skills or perform market analysis yourself as a new investor.

The platforms outlined in this guide provide robust tools to find, evaluate, and automatically replicate successful crypto traders. Each brings unique features catering to different investment styles and risk preferences.

If new to copy trading, practice prudent position sizing, portfolio diversification, and risk management. Copy trading does not guarantee profits, so monitor performance closely and make adjustments where needed.

Used strategically alongside continual learning, integrating copy trading into your approach can unlock tremendous benefits as a new cryptocurrency investor. The platforms profiled above make it seamless to put these strategies into practice.