Trade Copiers have gained popularity among traders of all levels, from professional traders to trading teams. Maybe you’re managing multiple accounts or just a Strategy Developer who wants to boost their profit by replicating their trades? Nonetheless, finding the best trade copier can be overwhelming for everyone and requires extensive research. However, finding the best trade copier that aligns with your trading style is what makes the big difference.
Here, we’ll walk you through the best 5 trade copiers of 2024 and help you find the best fit for your trading in Forex. But before we start, let’s get a better grip on what trade copiers actually are, so keep on reading to learn more.
What is a Trade Copier?
A trader copier is a tool that comes to aid traders who want to copy transactions from one account (lead) to another (copy) in real-time. You usually use trade copiers when you want to copy the trades of a successful trading strategy. It may sound too good to be true, but rest assured, trade copiers are legal in most countries. However, always go for a regulated broker or trading platform.
There are three main reasons why you should use trade copiers: efficiency, risk management, and accessibility. With this tool, you can set your multiple accounts to automatically start mirroring your trading decisions. Trade copiers help control risk by allowing traders to adjust lot sizes and risk levels, as well as customize trade settings per account. Last but not least, whether you’re a seasoned trader or a newbie, the best Forex trade copiers make it easy to scale strategies without constant monitoring.
Features of The Best Trade Copiers
Before we dive in and talk about the best trade copiers, let’s get some insight into what features you should be looking for in trade copiers.
- Execution Speed: The first element is execution speed. The faster the copy trader, the faster your trades can be mirrored across accounts. So, you should be looking for low latency and real-time copiers.
- Platform Compatibility: The second feature you should be looking for is platform compatibility. You should be ensured that the trade copier you’re choosing supports various trading platforms, such as Metatrader (MT4, MT5), cTrader, etc.
- Customization Options: Also, some forex trader copiers even give you the ability to customize your options. For example, they would allow you to adjust settings like trade size and risk management and even choose which trades to copy.
Also, it’s essential to note that the trader copier you’ll invest in has to provide high security and protection. Look into their policies and ensure that your personal information or financial data are going to be safe.
The Best 5 Trade Copiers in 2024
There are undoubtedly many trade copiers in the market, so getting confused is entirely normal. We’ve compiled the best trade copiers in 2024 and highlighted their best features:
1. Traders Connect
Traders Connect’s trade copier is our first pick, and it is all about speed and simplicity. If you’re looking for a cloud-based and hassle-free platform, Traders Connect is at your service. Let’s take a quick look at what makes it stand out:
- Super Fast Execution: With an average speed of 20-30 milliseconds, your trades are executed almost instantly.
- Works Across Platforms: It’s compatible with popular platforms like MetaTrader 4, MetaTrader 5, and cTrader, and the good news is they’re adding more.
- Cloud-Based Convenience: Since everything runs in the cloud, there’s no need to worry about downloading software or setting up a VPS.
- Safe and Secure: They keep your credentials secure by not relying on third-party services.
- Flexible Pricing: Plans start at just $15 a month for one account, with discounts if you’re managing more.
For more info about their features and pricing, go check their website.
2. Social Trader Tool
Our second pick for the best trade copiers of 2024 is the Social Trader Tool. They offer one of the most efficient trader copiers on the market with lots of notable features:
- Fast Execution: Looking for a fast copier? Their copier is one of the quickest out there, with trades replicating in just 50 milliseconds on average.
- Copier Modes: They offer three modes:
- On-mode: Copies all new trades, changes, and closes from the main account to the copy account.
Manage Existing - Trades Only: This mode manages trades you already have without copying new ones.
- On-mode: Copies all new trades, changes, and closes from the main account to the copy account.
Reverse Copy: Even if you have a losing strategy, they’ve got it all covered. You can turn those trades around and turn losses into wins with their reverse copy feature.
There are still tons of features that are not mentioned here. Don’t forget to visit their website and see for yourself whether they meet your goal or not.
3. FX Blue Trade Copier
Here comes our third best trade copier. FX Blue’s Personal Trade Copier provides a wide range of services to both individual traders and even professional trading teams. Let’s break down some of its features:
- Compatibility: Whether you’re using MetaTrader 4 or 5, this copier has you covered. All you need to do is to install the correct version for your platform.
- Risk and Lot Sizes Control: You get complete control over lot sizes and risk settings. You can adjust them based on the balance of your accounts, set fixed lot sizes, or multiply lot sizes to fit your strategy.
- Read-Only Access with Investor Password: You can log into the sending account with the “investor” password to monitor trades without actually placing any.
This copier is specially made for those traders who prefer to manage trades from their phones while having the desktop terminal handle the copying. If you want more details or need a specific feature explained, here is a link to their website.
4. Duplikium
Duplikium is another option on our list of the best trade copiers that offers a free plan with some limitations. You can trade with Duplikium across multiple platforms, such as MT4, MT5, cTrader, TradingView, FXCM, and LMAX. Let’s take a look at what they offer:
- Cloud-Based Hosting: Since everything’s in the cloud, there’s no need to keep a PC or server running 24/7. Also, you can be assured that your trades happen in near real-time, with trade latency as low as 1-3 milliseconds,
- Account Management: There are no limitations on the number of lead or copy accounts you can own.
- Flexible Pricing: Duplikium offers three plans:
- Free Plan: This plan includes 1 main and 1 copy account but with some limitations.
- Paid Plans: With this plan, you’d pay per connected account with no restrictions.
- Add-ons: you’ll be able to customize and extend your trade copier with extra features.
You can also visit their official webpage and see what else they have to offer for a free trader copier.
5. Forex Copier
Last but not least, the Forex Copier is our last pick on this list. This copier, like any other, is jammed with all kinds of features. Let’s take a quick rundown of what it offers:
- User-Friendly Interface: Their latest version has been redesigned to be convenient for users who want to set up and manage trades.
- Issue Management: Built-in tools with automatic problem-solving features are designed to fix issues as they happen.
- Unlimited Accounts: Forex copier allows you manage as many accounts as needed, which is perfect for handling multiple trades at once. This platform will come in handy for trading teams who need fast synchronized trades across multiple accounts.
Furthermore, If you’re looking for advanced copy settings or many other exciting features, make sure you visit their website for more information.
Final Thoughts
In this blog, we’ve talked about trade copiers and their key features and then introduced the top 5 trade copiers of 2024. Before you make your final decision, make sure you take the time to evaluate your trading goal and platform preferences. As you’ve seen, there are all sorts of trade copiers, and while most of them offer similar functionalities, the unique features can change your trading game.
Although finding the best trade copier that works for you can be life-altering, finding the right broker can even be a bigger decision. Factors such as a transparent forex trading platform contribute significantly to your trading performance. At ITB broker, we offer a profitable trading experience with unique qualities.
A forex trade copier is a tool or software that duplicates trades from one account to another, cutting off the manual intervention.
Yes, the best trade copiers are safe as long as you choose a reputable platform with good security features. Look for platforms that offer encryption and account protection.
Costs can differ depending on the platform. Some trade copiers like Duplikium offer free versions, but there are platforms that require subscription fees. The price for these fees can range from $30 to $150 per month.
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Leonardo Ciaccio
Hi, first of all, I want to congratulate you on the post, which is very well written and effectively structured. I'd like to suggest adding Copiix (copiix . com), which is completely free and also offers the ability to copy trades remotely.
2024-12-01 10:12:16