Copy trading is like having your own personal crypto mentor, guiding you through the ups and downs of the market.

You get to follow the trades of experienced and successful traders. You can trade online without spending too much time. But is that profitable?

We will compare some of the best crypto copy trading platforms that you can use. We will look at their features, fees, performance, and reputation. 

We will also give you some advice on how to start copy trading and what to consider when choosing a trader to follow.

What is Crypto Copy Trading?

Copy trading is a way of making money by following the trades of another principal trader who has trading knowledge and proven success rates.

Crypto copy trading is similar to social trading or mirror trading. It can be done manually or automatically, but automatic is better. With crypto copy trading, you use software that copies the trades of expert traders automatically.

You just need to put some assets in your exchange account, find a good trader on a crypto copy trading platform, and let the software do the rest.

How does Crypto Copy Trading Work?

In copy trading, you don’t have to learn anything or spend hours looking at charts. You just let the trading bots do the work for you.

How does it work? Well, you need to find software or a service that offers crypto copy trading. Then you need to choose which traders you want to follow and how much money you want to invest in each trade.

The software will then track the trades of those traders and copy them into your account. You will get the same results as they do. It will use the same parameters like buying price, selling price, stop loss, leverage, etc.

Pros and Cons of Copy Trading


  1. Access to experienced traders’ expertise
  2. Time-saving, as it eliminates the need for extensive research and analysis
  3. Diversification by following multiple traders with different strategies
  4. Learning opportunities by observing and replicating successful traders’ trades
  5. Emotionally disciplined trading, removing the impact of fear and greed
  6. Potential for passive income for beginner traders


  1. Lack of control over investment decisions
  2. Risk of losses if the copied trader makes poor decisions
  3. Reliance on the skills and intentions of the copied traders
  4. Limited personal growth as a trader by not actively engaging in research and analysis
  5. Execution delays due to factors like network connectivity or platform issues

List of Top Crypto Copy Trading Platforms and Apps

  1. Bybit: Overall best crypto copy trading platform
  2. 3Commas: Best copy trading platform with trading bots
  3. Binance: High volume crypto copy trading platform
  4. OKX: Best Bitcoin Copy Trading Platform
  5. eToro: Best Ethereum Social Trading App
  6. Bitget: Top Copy Trading App for Altcoins
  7. Cryptohopper: Best Automated Copy Trading Platform
  8. Pionex: Low Fees Copy Trading Software
  9. Phemex: Best Crypto Exchange for Copy Trading
  10. BitMEX: Best Social Trading app for high security
  11. Coinmatics: Top Software for Copying professional traders
  12. PrimeXBT Covesting: Top-Rated Copy Trading platform for beginners
  13. WunderTrading: Best for connecting multiple exchanges
  14. NAGA: Best for professional copy traders
  15. Best for social trading and community engagement
  16. BingX: Best for copying global traders

Comparison Between Best Crypto Copy Trading Apps

PlatformsSupported CoinsAutomated copy Trading Fees/PricingOverall Rating
Bybit390+Yes0.1% maker/taker4.8/5
3CommasDepends on the connected exchangeYes$29 per month4.7/5
Binance350+Needs to connect 3rd party apps0.1% maker/taker4.7/5
OKX340+Yes0.08% maker and 0.1% taker4.6/5
eToro80+Yes1% per trade4.5/5
Bitget550+Yes0.1% per trade4.5/5
CryptohopperDepends on the connected exchangeYes$19 per month4.4/5
Pionex379+Yes0.05% maker/taker4.3/5
Phemex272+Yes0.1% maker/taker4.2/5
BitMEX26+Needs to connect 3rd party apps0.025% maker and 0.075% taker4.1/5
CoinmaticsDepends on the connected exchangeYes$15 per month4.1/5
PrimeXBT10+Yes0.05% maker/taker4/5
WunderTradingDepends on exchangeYes$19.95 per month4/5
Naga1,000+YesUpto 0.4%3.9/5
Gate.io1,600+Yes0.1% maker/taker3.8/5
BingX500+Yes0.1% maker/taker3.7/5

Reviewing The Best Crypto Copy Trading Platforms in 2023

Bybit: Overall best crypto copy trading platform

Bybit Overall Best Crypto Copy Trading Platform 1
  • Supported Coins: 390+
  • Trading Fees: 0.1% maker and taker

Bybit is a platform where you can follow the best crypto traders in the world and copy their strategies automatically. You can also share your own trades and earn money from your followers if you are a good trader.

It is a great way to learn from the pros and grow your crypto portfolio. You can choose who to follow based on their results, risk profile, and trading style.

You can also customize your own settings for:

  1. How much do you want to invest?
  2. How many trades do you want to copy?
  3. When do you want to stop following?

Bybit Copy Trading Platform is very easy and reliable to use. You can access it on Bybit’s website or mobile app with the name “Top Master Traders”. You can also do other things like spot trading, futures trading, options trading, and more.

The platform supports more than 390 coins. It has millions of users from all over the world, a fast trading engine that executes trades smoothly, and a high level of security that protects your funds.

3Commas: Best copy trading platform with trading bots

3Commas Best Copy Trading Platform With Trading Bots
  • Supported Coins: depends on the connected exchange
  • Trading Fees: $29/month subscription

3Commas is one of the best platforms for automated crypto trading. It has many features that make trading easier and more profitable. It also has built-in 10+ crypto trading bots.

To use copy trading on 3Commas, you need to have a subscription plan that includes this feature. It will cost you only $29 per month. You also need to have an account on one of the 16+ exchanges that 3Commas supports, like Binance, Coinbase, or Kraken.

Now, connect your exchange account to 3Commas with an API key. This lets 3Commas access your funds and make trades for you.

After you have set up your account, you can go to the “Marketplace” on 3Commas and find traders that you want to copy. You can filter them by different criteria, like an exchange, coin, profit, risk score, followers, etc.

You can also see their ratings and reviews from other users. You can then subscribe to them for a fee that they choose themselves. The fee can be a fixed amount per month or a percentage of the profit they make for you.

Check your copy trading performance on the dashboard. You can see your balance, profit, loss, open positions, closed positions, etc. You can also see the details of each trade that you copied, like the entry price, exit price, amount, fee, etc.

Binance: High volume crypto copy trading platform

Binance High Volume Crypto Copy Trading Platform
  • Supported Coins: 350++
  • Trading Fees: 0.1% maker and taker

Binance is the largest crypto exchange by volume. It has many features for traders, like spot, margin, futures, options, staking, lending, savings, and more. One of the things that Binance has is copy trading. It supports more than 350 crypto assets with a trading fee of 0.1% per trade.

To copy trade on Binance, you need another app that works with Binance copy trading. Or you can make your own codes with the open-source API. Some examples of apps that work with Binance are Coinmatics, WunderTrading, 3Commas, Cryptohopper, etc.

You can pick from a list of strategies. You can also see more about each trading strategy, like the trades they made, the profit and loss, the fees, and the minimum amount you need to copy. Consider putting your settings, like stop-loss, take-profit, and maximum amount.

OKX: Best Bitcoin Copy Trading Platform

Okx Best Bitcoin Copy Trading Platform
  • Supported Coins: 340+
  • Trading Fees: 0.08% maker and 0.1% taker

OKEx is another good crypto platform for copy trading. With copy trading on OKX, you have two options: you can either copy the trades of other successful traders, or you can share your trades with others and earn extra money.

If you want to copy the trades of other traders, you can sign up as a copy trader on OKX. You can choose from 340+ trading pairs and find the best traders to follow.

Check and analyze their performance, risk level, and trading history before you copy them. You can also set your preferences and limits for your trades.

You can show off your trading strategies and attract more followers and copiers. Earn 10% of the profits from each copier, plus an extra 2% from OKX. That’s a total of 12% of extra income for each copier.

You can also enjoy the advantages of OKX’s exchange, such as high liquidity, low spreads, and various trading tools.

Okx Exchange

User Score



Win Mystery Boxes worth up to $10,000

eToro: Best Ethereum Social Trading App

Etoro Best Ethereum Social Trading App
  • Supported Coins: 80+
  • Trading Fees: 1% flat fee per trade

eToro is a platform where you can trade and invest in various kinds of financial instruments, including cryptocurrencies. It has over 20 million users around the world and it follows the rules of the FCA (UK), CySEC (Cyprus), and ASIC (Australia).

One of the coolest features of eToro is its CopyTrader technology. You can find the investor you want to copy on the Copy Discover page, where you can search for the type of investor you are looking for.

You can sort them by risk level, performance, portfolio composition, and more. You can also see their profiles, stats, risk scores, and trading history.

When you choose an investor to copy, you can decide how much money to put into them. The percentages will be calculated automatically so that every trade they make will be copied into your portfolio with the same percentage. You can copy up to 100 traders at the same time.

It’s your choice, you can start or stop copying whenever you want, pause it, and add or remove funds as you like. You can also talk to the traders you copy, discuss strategies and learn from their knowledge. Copying is free of charge, but you will still pay the 1% spreads and transaction fees.

Bitget: Top Copy Trading App for Altcoins

Bitget Top Copy Trading App For Altcoins
  • Supported Coins: 550+
  • Trading Fees: 0.1% Maker and taker (20% off with BGB token)

Bitget calls its copy trading feature One-Click Copy Trade. It is very popular and easy to use. You just need to find a trader that you like and start copying them. The expert traders are called “Traders” and the people who copy them are called “Copiers”.

Bitget’s social trading feature has many advantages for both traders and copiers. Here are some of them:

  1. Easy to start: Start with just 10 USDT and choose from more than 80,000 Traders with different styles and results.
  2. Clear and honest: Check everything that the Traders are doing, like their past data, current positions, profits and losses, and rankings. You can also chat with them and ask them questions.
  3. Rewarding and fun: Traders can make money from the Copiers by getting commissions based on their performance and popularity. They can also join different events and contests by Bitget to win prizes and fame.

Bitget’s copy trading feature is also easy to use, secure, and reliable. It supports more than 550+ trading pairs. You can also trade your favorite low-market-cap altcoins.

Cryptohopper: Best Automated Copy Trading Platform

Cryptohopper Best Automated Copy Trading Platform
  • Supported Coins: depends on the exchange
  • Trading Fees: $19 per month

Cryptohopper is a platform that lets you use different features and tools to trade cryptocurrencies. For example, you can copy other traders, use automated trading bots, analyze the market, and use advanced tools like backtesting, market-making, and arbitrage.

Cryptohopper gives you different ways to copy trade on its platform:

  1. Copy bot: This is the easiest way to copy professional traders. You just need to go to Cryptohopper’s Marketplace Copy Bots and pick the Marketplace Seller you want to copy. You can see their exchange, their currencies, their trading results, and their reviews. Then you just need to connect your exchange and let the bot do the rest.
  2. Signals: It lets you subscribe to trading signals from third-party analysts. You can choose which signalers you want to follow. You can use the signalers’ sell settings or set them yourself.
  3. Templates: This option lets you download a full set-up crypto trading bot from the Marketplace. The templates have all the settings ready for you, such as the features, strategies, and signals. You just need to change them according to your preferences.
  4. Strategies: You use a set of technical indicators that tell your bot when to buy or sell. You can choose from a variety of strategies in the Marketplace or make your own using the Strategy Designer. You can also test your strategies using historical data to see how they would have done in the past.

You need to connect your exchange with API keys to Cryptohopper. It supports more than 17 crypto exchanges. You can start with a free trial and upgrade to a $19 per month paid plan later if you want more features and benefits.

Pionex: Low Fees Copy Trading Software

Pionex Low Fees Copy Trading Software
  • Supported Coins: 379
  • Trading Fees: 0.05% maker and taker

Pionex is the top free crypto copy trading platform. It has 16 different trading bots that you can use for free. They can help you trade automatically and make the most of market movements.

Some of the popular bots are Grid Trading Bot, DCA Bot, Rebalancing Bot, and Leveraged Grid Bot. To start copy trading on Pionex, you need to follow some rules set by the traders you want to copy.

These rules may include the investment amount, the threshold for several copiers, and a fee charge. There is also a 0.05% trading fee per trade.

When you follow the rules, you can copy the trades of your chosen experienced traders. You can also change some settings of the bot, such as the stop-loss percentage, take-profit percentage, and leverage ratio. You can track your copy trading performance on the Pionex mobile app or website.

Phemex: Best Crypto Exchange for Copy Trading

Phemex Best Crypto Exchange For Copy Trading
  • Supported Coins: 272
  • Trading Fees: 0.1% maker and taker

Phemex is a crypto exchange from Singapore that lets you trade over 272 crypto pairs with spot and contract trading. It has many features that help you make money with crypto, like earning interest, staking in launch pools, and prediction markets. It is also one of the best no-KYC crypto exchanges.

Phemex’s copy trading feature is honest and fair. The platform does not charge any fees for copying or being copied. The top traders can get commissions from their copiers based on their monthly profits.

The platform also makes sure that the trades exit at the same price without any price slippage.

You can discover, track, and select the most skilled traders through Phemex’s copy trading portal. Observe their performance, trading preferences, and strategies. Now you can start copying them once you find them profitable.

BitMEX: Safest Social Trading app

Bitmex Safest Social Trading App
  • Supported Coins: 26+
  • Trading Fees: 0.025% maker and 0.075% taker

BitMEX is a crypto trading platform that lets you trade Bitcoin and other cryptos with different products. You can trade with perpetual swaps, futures contracts, options, and more. You can also trade with high leverage, up to 100x for some coins.

To do copy trading on BitMEX, you need to use another service that connects to BitMEX with an API. Some of the services that you can use are Zignaly, AIVIA, and WunderTrading.

These services let you see different traders’ profiles. You can check their performance history, risk level, fees, and strategies. Then you can pick one or more traders to follow and copy their trades automatically on your BitMEX account.

The fees for copy trading depend on the service and the trader that you pick. Some services ask for a monthly subscription fee, while others ask for a performance.

Coinmatics: Top software for copying professional traders

Coinmatics Top Software For Copying Professional Traders
  • Supported Coins: depends on crypto exchange
  • Trading Fees: $15 per month

Coinmatics is the best-automated crypto copy trading platform. All you need to do is sign up on the exchange, link your exchange account to Coinmatics with an API key, and pick a strategy from a trader.

Then you can sit back and relax while Coinmatics does the rest. It will copy the trader’s orders on your account as soon as they happen. You can watch your profits grow.

You can use Coinmatics with different exchanges, like Binance, BitMEX, Bitfine, and Bybit. You can also trade with different coins, like Bitcoin, Ethereum, Litecoin, Ripple, Cardano, Polkadot and more. And you can choose different types of trading, like spot, futures, and perpetual.

The platform charges you two kinds of fees for each strategy: a subscription fee and a success fee.

The subscription fee is a fixed amount that you pay every month or year to access the strategy. The success fee is a part of the profit that you give to the trader if the strategy makes money. The fees are different for each strategy, but you can see them before you subscribe.

PrimeXBT Covesting: Top-Rated Copy Trading platform for beginners

Primexbt Covesting Top Rated Copy Trading Platform For Beginners
  • Supported Coins: 10+
  • Trading Fees: 0.05% maker and taker

To start copy trading on PrimeXBT covesting, you can go to the copy trading section and look for traders to follow. Now, sort them by different criteria, such as performance, risk level, followers, profit share, and more.

When you find a trader that you like, you can click on the “Follow” button and choose how much money you want to invest in them. You can also set a limit on how much you are willing to lose and stop following whenever you want. You can track your copy trading results and performance on the platform.

The best part about copy trading on PrimeXBT is that you only pay a fee when your trader makes a profit. The fee is 20% of the profit and it is taken from your account automatically. There are no other fees or charges for copy trading.

WunderTrading: Best for connecting multiple exchanges

Wundertrading Best For Connecting Multiple Exchanges
  • Supported Coins: depends on the connected exchange
  • Trading Fees: $19.95 per month

WunderTrading is a service that works on the cloud and connects to many crypto exchanges, such as Binance, Bybit, OKX, and others. You can use it to automate your trading strategy, or you can copy the trades of expert traders or crypto bots that you find on their marketplace.

There are more than 60,000 traders and 11,000 bots to choose from, and you can see how they perform before following them. You can also decide how much money or what percentage of your portfolio you want to allocate for copy trading.

WunderTrading has a simple pricing model. You can use their free plan if you trade for less than $1000 per month, or you can upgrade to their pro plan for $29 per month and get unlimited trading volume and all features. Copy trading does not cost extra, but you may have to pay some fees to the exchange you use.

You don’t have to worry about your funds being stolen because the platform only uses API keys that cannot withdraw money. You also have full control over your trades and can edit or close them anytime.

Besides copy trading, WunderTrading also offers other tools such as smart trading, pairs trading, DCA bot, and crypto portfolio tracker.

NAGA: Best for professional copy traders

Naga Best For Professional Copy Traders
  • Supported Assets: 1,000+ assets
  • Trading Fees: up to 0.4% per trade and additional withdrawal charges

NAGA is the best crypto social trading platform. You can choose from more than 1000 assets, like real stocks, commodities, forex, indices, ETFs, and cryptocurrencies. You can also follow and copy the best traders on NAGA with their “auto copy” feature, which shows you their strategies and results.

It supports more than 20 cryptocurrencies, like Bitcoin, Ethereum, Ripple, Litecoin, Cardano, Dogecoin, and more. You can deposit and withdraw your money using different methods, like credit cards, bank transfers, e-wallets, and crypto wallets.

NAGA has a simple and fair fee system for copy trading. You pay €0.99 for each trade that you copy from another trader. And you pay 5% for each trade that makes more than €10 in profit. Best for social trading and community engagement

Gateio Best For Social Trading And Community Engagement
  • Supported Coins: 1600+
  • Trading Fees: 0.1% maker and taker supports more than 1600+ crypto coins. But in copy trading, you can use 50 cryptos for the spot and more than 100 contracts for futures.

You can choose who to copy from a list of lead traders who have different performance indicators. You can also adjust your copy settings like maximum amount, take profit, stop-loss, and the number of positions.

The fees for copy trading on are the same as the normal trading fees for spot and futures markets, which depend on your VIP level and trading volume.

But there is also a profit-sharing fee. The lead trader decides how much they want to charge for their profit-sharing fee, which can be from 5% to 40%. You can see the profit-sharing fee before you start copying someone and you can stop copying anytime you want.

BingX: Best for copying global traders

Bingx Best For Copying Global Traders
  • Supported Coins: 500+
  • Trading Fees: 0.1% maker and taker

BingX lets you follow and copy the best traders in the crypto space, who know how to make money even when the market is down. 

You can choose from hundreds of traders who trade different coins and strategies, and see their profiles, comments, and track records. You can also chat with them and learn from their tips and insights.

You can trade both spot and futures contracts of various cryptocurrencies, such as Bitcoin, Ethereum, Tether, Binance Coin, and many more. You don’t have to pay any service fee for copying trades, only a small open order fee of 0.045%. 

How to Choose the Best Crypto Copy Trading Platform: Our Methodology

Here are some factors and criteria you should consider before choosing a crypto copy trading platform:

1. Security and Reputation

Before you pick a platform for social trading, you need to think about some things. First of all, how safe and reliable is the platform?

You don’t want to lose your money or your personal data to hackers or scammers. So look for platforms that have strong security features and good reviews from other users.

2. Supported Cryptocurrencies

Check what kind of cryptocurrencies you can trade on the platform. It’s better to have more options and not depend on one coin only. Look for platforms that have popular coins like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others.

3. User-Friendly Interface

Also, how easy is it to use the platform? If you’re new to crypto copy trading, you need a platform that has a simple and attractive interface.

You should be able to find your way around and make trades without any hassle. A clean design and clear instructions can make your trading experience much better.

4. Copy Trading Features

Another thing to consider is the copy trading features of the platform. Look for features that let you choose different traders to copy, change copy ratios, and set stop-loss limits.

These features give you more control and help you adjust your copy trading strategy to your risk level and goals.

5. Performance Analysis and Statistics

You also need to check the performance history and statistics of the platform. These are important for evaluating how well the traders on the platform are doing.

Look for platforms that give you detailed historical performance data, such as win rates, average returns, and maximum drawdowns. Honest and accurate statistics will help you make smart decisions when choosing professional traders to copy and avoid scams.

6. Risk Management Tools

Don’t forget about the risk management tools on the platform. These are essential for any trading platform.

Look for features like trailing stop-loss orders, which automatically change the stop-loss level as the trade goes in your favor. These tools help reduce potential losses and protect your capital when the market is unstable.

7. Social Trading Community

Another thing to look for is the social trading community on the platform. Talking to other traders can give you valuable insights and improve your trading skills.

Check for platforms that have forums, chat rooms, or social media integration, where you can connect and learn from experienced traders.

8. Customer Support

Also, how good is the customer support of the platform? You need reliable customer support when copying crypto trades. So, if some issue arises, like fraud or being unable to exit trades, you can call customer support.

You can look for platforms that have multiple support channels, such as live chat, email, or phone support. Fast and helpful customer service can help you solve any problems or questions you may have.

9. Pricing and Fees

Finally, compare the pricing and fees of different platforms. You must choose platforms that have transparent and competitive pricing, including reasonable transaction fees and withdrawal charges.

Be careful of platforms with high fees that may eat up your profits over time. This is important if you do frequent trades.

How to Copy Crypto Trades: Step-by-Step Guide

If you want to copy trades from successful social traders, here are some steps you can follow:

  • First, you need to find a trustworthy platform that lets you copy trades. Some of the popular ones are eToro, Bybit, and Bitget. They have all the required features and many social traders to copy from. We will be choosing bybit as an example.
  • Next, you need to create an account on the platform you choose. You have to fill in some details and verify your identity (KYC verification) if needed.
How To Copy Crypto Trades ̣1
  • Then, you need to add some money to your account. You can use different ways to pay, like bank transfers, cards, Paypal, or crypto.
  • After that, you can go to the copy trading section on the platform. There, you can see and copy the trades of other traders who are doing well. You can sort by PnL percentage.
How To Copy Crypto Trades 2
  • Before you copy anyone, you should do some research and analysis. You should look for traders who have a good history, steady profits, followers Pnl, and a similar risk level as you.
  • When you find a trader you like, you can set some parameters for copying them. You can decide how much money you want to use for copying and how much risk you’re willing to take per trade.
How To Copy Crypto Trades 3
  • Then, you can start copying their trades by clicking a “copy” button on the platform. The platform will automatically place their trades in your account.
  • You should keep an eye on your copied trades and the trader you’re following. You should also watch the market and the news that might affect your investments.
  • Lastly, If you’re not happy with how a trader is doing or if you want to change your goals, you can stop copying them and find someone else. It’s important to be flexible and make changes when needed.

What fees do you pay for copy trading?

The trading fees for copy trading are not the same for every platform or broker. You might pay around 1% to 10% of your profit or trades. This does not include the fees you pay to the broker for spreads and commissions.

For example, on eToro, you don’t pay extra for copy trading, but you still pay the normal fees for spreads and overnight fees. Again, on NAGA, you pay €0.99 for each trade you copy, and 5% of your profit if it is more than €10. You also pay the broker’s fees for spreads and commissions, which change depending on what you trade and what account you have.

That’s why you should compare different platforms and brokers before you choose one to copy trade with. Otherwise, fees will eat up all your profits over time.

Is crypto copy trading profitable?

Yes, crypto copy trading can be profitable, but it is not guaranteed. You have to choose a secure platform and a profitable trader to follow. You also have to know how it works and what risks are involved.

Always follow risk management techniques like stop-loss, target points, and investing 5-10% of your investment capital.

Remember, crypto markets are very risky and unpredictable, and even the best traders can lose money or make mistakes. You should be ready for ups and downs and have a plan to manage your risk.

Risks of Crypto Social Trading Explained

  1. No regulation: The crypto market is not well-regulated, unlike traditional financial markets. This means that there are more chances of fraud, manipulation, and scams. Therefore, you need to be careful and choose trustworthy social trading platforms that care about security and compliance.
  2. Volatility and market risks: Cryptocurrencies are very volatile. Their prices can change a lot in a short time. While volatility can create profit opportunities, it also increases the risks. You need to understand that even skilled traders can make wrong predictions, and you can lose money if you follow their trades.
  3. Dependence on others: Crypto social trading depends on the skills and expertise of other traders. When you copy their trades, you are trusting their decision-making abilities. However, no trader is perfect, and following others blindly can lead to big financial losses. You need to do your own research.
  4. Lack of control: When you do copy trading, you give up some control over your investment decisions. You rely on others to make trading choices for you. While this can be helpful for those who have limited knowledge or time to trade actively, you need to consider the possible consequences of not having full control over your portfolio.
  5. Emotional bias: Crypto social trading involves watching the actions of other traders, which can sometimes trigger emotional responses. Fear of missing out (FOMO) or panic selling due to sudden market downturns can lead to impulsive and irrational trading decisions. You need to stay disciplined and stick to a well-defined investment strategy, even when emotions run high.
  6. Security risks: The crypto market is vulnerable to security breaches and hacking attempts. Look for platforms with two-factor authentication, cold storage wallets, and a good reputation for security practices.
  7. Over-reliance on social sentiment: Crypto copy trading often involves analyzing social sentiment, which refers to the collective opinion and emotions of the trading community. While social sentiment can provide useful insights, it can also be misleading. Market trends driven by hype or misinformation may not reflect the true fundamentals of a cryptocurrency. You need to complement social sentiment analysis with thorough fundamental and technical analysis.

What are the best crypto copy trading strategies?

  1. Do your homework and pick the best traders to copy. Don’t just follow anyone. Look for traders who have a consistent history of making profits. Check their risk management skills, trading style, and performance history. You can use the tools on the platforms to compare and analyze different traders.
  2. Don’t put all your eggs in one basket. Copy more than one trader who has different trading styles and focuses on different cryptocurrencies. This way, you can reduce your risk and increase your profit potential.
  3. Manage your risk wisely. Set clear limits to protect your investment. Use stop-loss orders and decide how much you are willing to lose on each trade. Follow traders who have a good risk-to-reward ratio and a disciplined approach to risk management.
  4. Keep an eye on the traders you are copying. Monitor their trading activities, performance trends, and strategy changes. If a trader’s performance goes down or their strategy doesn’t match your goals, be ready to make changes to your portfolio.
  5. Use performance metrics to evaluate traders. Look at metrics such as return on investment (ROI), maximum drawdown, average trade duration, and win rate. These metrics can help you understand a trader’s consistency, risk tolerance, and overall trading performance.
  6. Stay updated on the crypto market news, trends, and events that may affect the crypto market. This knowledge can help you understand why certain traders are making certain trades and help you assess their strategies better.

Final Thoughts

Crypto copy trading is an easy way to follow the strategies of experienced traders, diversify your portfolio, and potentially boost your profits. But it also has some challenges, such as finding trustworthy and compatible traders to follow, controlling your risk level, and keeping up with market changes.

That’s why you need a dependable and user-friendly copy trading platform that gives you a wide range of traders, instruments, and tools to help you succeed in your copy trading journey.

The above-discussed apps and software are top among all copy trading platforms available in the crypto market.

FAQs on Crypto Copy Trading Platforms

Is crypto copy trading good for beginners?

Yes, copy trading is good for beginners. If you are new to crypto trading, you may not be familiar with the volatility and nature of the crypto market. In this case, copying other professional traders can help you make some profits and earn some money. 

But you need to be careful about who you follow, how much you pay in fees and commissions, and how the market changes. 

How much can you make from copy trading?

There is no easy answer to how much money you can make from copy trading. It depends on many things, like how well the traders you follow do, how much money you invest, how much you pay in fees and commissions, and how the market moves. 

Copy trading does not guarantee that you will make money. You should know that past results do not mean future results.

But if you perform copy trading with good knowledge and proper research, you can definitely make some money.

Which platform is best for copy trading?

Different copy trading platforms may suit different investors. Based on our research, we recommend using Bybit and eToro social trading platforms. These are trusted and reputable crypto platforms.

They offer you a wide range of crypto assets and eToro also supports stocks, commodities, currencies, and more. 

Is copying cryptocurrency trades legal?

Yes, copying cryptocurrency trades is legal in most countries where cryptocurrency is allowed. But different countries may have different rules and requirements for crypto copy trading platforms and users. 

For example, some countries may need platforms to get licenses or follow anti-money laundering and tax laws. Some countries may also limit or ban certain kinds of crypto assets or activities. So, you should always check the legal status of crypto copy trading in your country before using any platform or service.

What is the best free copy trading app?

Most crypto copy trading platforms charge some fees or commissions for using their services or copying trades. And, you need to pay your principal trader for copying their traders. 

But some platforms may offer free trials or discounts for new users or referrals. Some platforms may also have low fees for certain assets or markets. For example, Pionex is one the best low fees copy trading platforms. It charges only 0.05% per trade, which is comparatively low.

What is the best crypto copy trading bot?

Some of the best crypto copy trading bots are 3Commas, Cryptohopper, and WunderTrading. 

They offer features such as portfolio management, smart trade, social trading, and more. They also support a wide range of cryptocurrencies and exchanges for your convenience.