Mirror trading is an increasingly popular investment strategy among forex and stock traders. The minimal time and effort required can be attractive to new traders, in particular, who may be seeking to replicate the returns of seasoned investors. In this article, we explain how mirror trading works, how to get started, and the potential risks involved.
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available, alongside a comprehensive education center and multilingual customer support.
Avatrade Copy Trading
There's a strong selection of social and copy trading systems, including the AvaSocial app and popular third-party platforms, DupliTrade and ZuluTrade. Clear performance metrics can help you find the right strategy provider for your goals and risk appetite.
Demo Account Regulated By MT4 Integration Yes ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA Yes Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:30 (Retail) 1:400 (Pro)
Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated brokerage offers excellent market access, industry-leading platforms in MT4, MT5, TradingView and cTrader, plus low fees with no hidden charges. Pepperstone is also heavily regulated with a high trust score, holding licenses with reputable bodies, including the FCA, ASIC, DFSA, and CySEC.
Pepperstone Copy Trading
Pepperstone offers an impressive range of third-party platforms, including DupliTrade, a tool that allows investors to automatically replicate the trading activity of experts. Trading signals are also available, identifying potential entry and exit points.
Demo Account Regulated By MT4 Integration Yes FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB Yes Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:30 (Retail), 1:500 (Pro)
IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.
IC Markets Copy Trading
The IC Social app is easy-to-use and allows traders to learn, share and mirror positions in a few clicks. The app also hosts risk management tools and facilitates direct messaging and dedicated trading groups. Alternatively, IC Markets provides access to Signal Start, plus popular third-party copy trading tools - ZuluTrade and Myfxbook.
Demo Account Regulated By MT4 Integration Yes ASIC, CySEC, FSA Yes Min. Deposit Min. Trade Leverage $200 0.01 Lots 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
XM Copy Trading
XM global offers a user-friendly copy trading service. Aspiring investors can copy the trades of strategy managers. Investors can find strategy managers by viewing performance metrics and can decide how much they want to invest. Strategy managers can earn 50% of profits.
Demo Account Regulated By MT4 Integration Yes ASIC, CySEC, DFSA, FSC, FSCA Yes Min. Deposit Min. Trade Leverage $5 0.01 Lots 1:30
Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of asset classes are available, including synthetic products that simulate realistic market activity. Clients can trade on the MT4, MT5 and cTrader platforms, as well as a copy trading solution whereby a fee is only paid on profitable trades.
Kwakol Markets Copy Trading
Kwakol Invest offers straightforward copy trading, connecting newbies with experienced traders. The leaderboard makes it easier to find suitable strategy providers with insights into the number of followers, total returns and more. You also only pay a fee on profitable positions.
Demo Account Regulated By MT4 Integration Yes ASIC, FINTRAC Yes Min. Deposit Min. Trade Leverage £250 0.01 Lots 1:1000
RoboForex is a global broker launched in 2009. The firm offers more than 12,000 instruments spanning 9 asset classes with trades from 0.01 lots and spreads from 0 pips. The broker's advanced copy trading tool is also home to thousands of active traders.
Demo Account Regulated By MT4 Integration Yes FSC Yes Min. Deposit Min. Trade Leverage $10 0.01 Lots 1:2000
Trade Nation is a top FX and CFD broker regulated in multiple jurisdictions including the UK and Australia. The firm offers low-cost fixed and variable spreads on 1000+ assets with robust trading platforms and training materials. The Signal Centre can also be used for trade ideas.
Trade Nation Copy Trading
Trade Nation Seychelles offers signals and copy trading. These are attractive options for beginners and those looking to a hands-off approach to online trading. You can leverage the expertise of seasoned traders to speculate on popular financial markets, including forex, stocks and commodities.
Demo Account Regulated By MT4 Integration Yes FCA, ASIC, FSCA, SCB, FSA Yes Min. Deposit Min. Trade Leverage $0 0.1 Lots 1:500 (entity dependent)
eToro is a top-rated multi-asset platform which offers both investing in stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 76% of retail CFD accounts lose money.
eToro Copy Trading
One of the best proprietary platforms currently on the market is the award-winning eToro CopyTrader (at no additional cost for eToro clients). The web-based platform includes a user-friendly and interactive layout and also comes with social features, including a community chat. Copy trading on crypto trades only.
Demo Account Regulated By MT4 Integration Yes FCA, ASIC, CySEC, FSA No Min. Deposit Min. Trade Leverage $50 $10 1:30
Fusion Markets is an Australian headquartered and regulated broker that offers low-cost forex and CFD trading. Copy trading, 1:500 leverage plus multiple account types are also available, catering to traders of different experience levels and budgets. New clients can sign up and start trading in three straightforward steps.
Fusion Markets Copy Trading
The broker's native copy trading platform, Fusion+, offers access to experienced traders with low to zero fees and a hassle-free follower process. Alternatively, leading third-party tool, DupliTrade, connects aspiring investors with proven traders.
Demo Account Regulated By MT4 Integration Yes ASIC, VFSC Yes Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:500
FXTM is a top-rated forex and CFD broker. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ markets and three account types, they cater to all levels of trader.
FXTM Copy Trading
FXTM Invest is a popular copy trading app connecting clients to established investors with successful portfolios. Learn from traders with proven strategies in forex, stocks and more.
Demo Account Regulated By MT4 Integration Yes CySEC (Cyprus), FCA (UK), FSCA (South Africa), FSC (Mauritius) Yes Min. Deposit Min. Trade Leverage $10 0.01 Lots 1:30 (EU), 1:2000 (Global)
Founded in 2017, Pocket Option is a binary options broker offering up/down contracts on forex, stocks and cryptocurrencies. With over 100,000 active users and a global reach, the brand has proven popular with budding traders. Pocket Option also supports dozens of payment methods and has a low minimum trade of just $1.
Pocket Option Copy Trading
Pocket Option offers hassle-free copy trading. Simply choose from the broker's top ranked traders and mirror their positions in your own account. The copy trading service is available 24/7 and also hosts active community groups where you can chat with other traders.
Demo Account Regulated By MT4 Integration Yes IFMRRC No Min. Deposit Min. Trade Leverage $50 $1 None
GO Markets is an established forex and CFD broker with multiple industry awards and accolades. The ECN/STP broker is popular with budding traders, offering competitive accounts in multiple base currencies and a range of flexible payment methods. With top-tier regulation from CySEC and ASIC, GO Markets is a trusted broker.
GO Markets Copy Trading
GO Markets uses the Myfxbook AutoTrade platform to provide investors with the option to copy other traders. Learn from profitable traders with straightforward risk management tools.
Demo Account Regulated By MT4 Integration Yes ASIC, CySEC, FSC of Mauritius Yes Min. Deposit Min. Trade Leverage $200 0.01 Lots 1:500
NordFX is an offshore CFD broker offering forex, stock, commodities, indices and crypto trading with leverage up to 1:1000. Traders access markets through the MetaTrader 4 platform and benefit from low commissions, spreads from zero and decent extra features. Minimum deposits start from just $10, which will appeal to newer traders.
NordFX Copy Trading
Copy the trades of experienced investors using real-time signals. You only pay a fee on winning trades, starting from 10%. New copy traders can get started with a competitive $100 payment.
Demo Account Regulated By MT4 Integration Yes VFSC Yes Min. Deposit Min. Trade Leverage $10 $1 1:1000
IQCent is an offshore binary options and CFD broker based in the Marshall Islands with 10+ payment methods and a low $50 starting deposit. With 100+ assets, around the clock trading and high payouts the brand is popular with aspiring traders.
IQCent Copy Trading
Copy trading is offered within the proprietary WebTrader platform. Clients can follow and replicate the trades of established investors using real-time performance statistics.
Demo Account Regulated By MT4 Integration Yes IFMRRC No Min. Deposit Min. Trade Leverage $250 $0.01 1:500
FXChoice is a Belize-based broker established in 2010 and registered with the Financial Services Commission (FSC). The brand offers a wide selection of markets including crypto, plus the familiar MT4 and MT5 platforms. FXChoice stands out for its extra tools and perks, from LearnFx EAs to a VPS and Myfxbook's AutoTrade. New users can also claim a welcome bonus upon sign-up.
FXChoice Copy Trading
FXChoice has partnered with Myfxbook AutoTrade to offer copy trading to all account holders. You can find and follow the strategies of multiple traders with straightforward account management. MQL5 signals can also be used to inform buy or sell decisions.
Demo Account Regulated By MT4 Integration Yes FSC Yes Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:200
Axi is a global forex and CFD trading firm, trusted by investors around the world. Highly leveraged trading opportunities plus a $0 minimum deposit make it a popular broker with beginners and seasoned traders. Axi also stands out for its resources, including copy trading and Myfxbook.
Axi Copy Trading
After partnering with Pelican Trading, Axi has launched a user-friendly copy trading service that provides access to more than 30 products across popular financial markets.
Demo Account Regulated By MT4 Integration Yes FCA, ASIC, DFSA, FMA Yes Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:400
Founded in 2009, Vantage offers trading on 1000+ CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
Vantage FX Copy Trading
Traders enjoy social and copy trading at Vantage with the MetaTrader packages, DupliTrade, ZuluTrade and Myfxbook. ZuluTrade is one of the best social trading communities, using a sophisticated algorithm to rank top signal providers.
Demo Account Regulated By MT4 Integration Yes FCA, ASIC, FSCA, VFSC Yes Min. Deposit Min. Trade Leverage $50 0.01 Lots 1:500
VT Markets is an Australian multi-asset CFD broker regulated by the ASIC, FSCA, and SVGFSA. With 1000+ tradeable instruments, support for the MetaTrader 4 and MetaTrader 5 platforms, plus powerful charts from TradingView, this broker provides traders with an intuitive way to access diverse markets. Spreads start from 0.0 on the ECN account with very competitive commissions on some instruments, and the commission-free account also has fairly tight spreads starting from 1.2 pips on the EUR/USD pair.
VT Markets Copy Trading
VT Markets offers copy trading via ZuluTrade. The platform also offers intuitive risk management safeguards. The bespoke VTrade platform also offers social investing with 100+ strategy providers.
Demo Account Regulated By MT4 Integration Yes ASIC, FSCA, SVGFSA Yes Min. Deposit Min. Trade Leverage $200 0.01 Lots 1:500
PrimeXBT is a multi-asset platform offering highly leveraged trading in forex, indices, commodities and cryptocurrencies. The company launched in 2018 and now has over 1 million users from more than 150 countries. With no minimum deposit, copy trading features and low commissions, the broker has become popular among new and experienced traders.
PrimeXBT Copy Trading
PrimeXBT offers an excellent Covesting module where traders can follow the strategies of other users with free and paid-for signals. Once you have found a suitable trader you simply need to hit 'follow' to get started.
Demo Account Regulated By MT4 Integration Yes No Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:1000
Trading 212 is a European-regulated CFD, stock and ETF broker that also offers ISA accounts. Traders can access markets through a proprietary trading platform and speculate on the movements of 1800+ tradeable instruments including forex, stocks, ETFs and commodities.
Trading212 Copy Trading
Trading 212 offers a portfolio copy trading service which is user-friendly and suitable for beginners
Demo Account Regulated By MT4 Integration Yes FCA, CySEC, FSC No Min. Deposit Min. Trade Leverage $1 0.01 Lots 1:30
FXDD is an established forex and CFD broker founded in 2002. Regulated in Malta, Mauritius, Peru and Malaysia, the broker provides secure trading platforms, competitive ECN spreads and reliable 24/7 customer support. Competitive pricing and ultra-low latency is also offered via the broker's Direct Market Access execution model and tier 1 aggregated liquidity.
Demo Account Regulated By MT4 Integration Yes Malta Financial Services Authority (MFSA), Mauritius Financial Services Commission (MFSC), Labuan Financial Services Authority (LFSA), Superintendencia de Banca, Seguros (SBS) Yes Min. Deposit Min. Trade Leverage $1 0.01 Lots 1:500* Leverage varies depending on the region
FXTrading.com is global broker offering highly leveraged CFDs on 10,000+ assets, including forex, stocks, indices, commodities and cryptocurrencies. Competitive prices with raw spreads and low to zero commissions are available. Traders can use the popular MetaTrader 4 platform and will have access to a suite of additional analytical tools and other resources. The multi-regulated brokerage is authorized by the ASIC and VFSC.
Demo Account Regulated By MT4 Integration Yes ASIC, VFSC Yes Min. Deposit Min. Trade Leverage $200 0.01 Lots 1:500
ThinkMarkets is a reputable CFD and forex broker with regulation from several top-tier bodies including the FCA and ASIC. Traders can use a bespoke platform, MT4 or MT5 to access a wide variety of assets including 3500+ stocks and ETFs, 46 forex pairs and over 20 cryptocurrencies. Fees are competitive, particularly for the ThinkZero account with spreads starting at zero.
ThinkMarkets Copy Trading
The Signal Centre is FCA-regulated and offers insights into forex, stocks, indices, commodities, and cryptocurrencies. Users can receive up to 40 signals before the trading day starts to plan setups.
Demo Account Regulated By MT4 Integration Yes FCA, ASIC, CySEC, FSCA, JFSA, FSA Seychelles Yes Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:500
M4Markets is an award-winning broker regulated by the CySEC, FSA and DFSA. Clients can speculate on popular financial markets with ultra-tight spreads from 0.0 pips and very high leverage up to 1:5000. There are no hidden fees and funds are held in segregated accounts alongside negative balance protection.
M4Markets Copy Trading
M4Markets clients can use the Copy Trader app to mirror successful trading strategies in their accounts. You can access the social trading feed around the clock and learn from experienced traders and mentors.
Demo Account Regulated By MT4 Integration Yes FSA, CySEC Yes Min. Deposit Min. Trade Leverage $5 0.01 Lots 1:1000
SuperForex is an offshore CFD and forex broker that offers highly leveraged trades on a wide selection of forex pairs plus commodities, indices, cryptos and stocks using the popular MetaTrader 4 platform. With a range of account types, including swap-free, micro and zero spread, this broker will suit traders with different styles and setups. SuperForex is also based in Europe and offers welcome bonuses and trading contests.
SuperForex Copy Trading
The Forex Copy system provides access to a huge network of experienced traders with strategies that can be mirrored in a few clicks. You only need $10 to get started with the copy trading solution.
Demo Account Regulated By MT4 Integration Yes IFSC Yes Min. Deposit Min. Trade Leverage $1 0.01 Lots 1:2000
Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
Videforex Copy Trading
Videforex offers an integrated copy trading service where users can automatically or manually replicate the positions of other traders. Simply choose a trader and asset class and specify the investment amount.
Demo Account Regulated By MT4 Integration Yes No Min. Deposit Min. Trade Leverage $250 $0.01 1:500
IronFX is a multi-regulated broker offering CFD trading on forex, stocks, indices and commodities through the MetaTrader 4 platform. The broker offers various account types with competitive pricing, including spreads from zero on STP/ECN accounts. Leverage varies by regulator between 1:30 and 1:1000.
IronFX Copy Trading
TradeCopier allows aspiring investors to copy the strategies of top traders in real-time. Funds can be withdrawn at any time with real-time account management features.
Demo Account Regulated By MT4 Integration Yes CySEC, FCA, FSCA, BMA / Bermuda Yes Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:1000 (BM)
Ingot Brokers is a multi-regulated brokerage offering CFD trading opportunities on 1000+ instruments including forex, stocks, indices, commodities and cryptocurrencies. The broker supports the MetaTrader 4 and MetaTrader 5 platforms and offers both raw spreads and commission-free account options with competitive pricing and fast execution. It also has copy trading functionality and a decent suite of extras including educational content and calculators.
Ingot Brokers Copy Trading
Ingot Brokers offers a bespoke copy trading app where users can copy seasoned traders with low fees and detailed performance metrics. Beginners can learn from seasoned traders who in turn can generate a second revenue stream by marketing their trades.
Demo Account Regulated By MT4 Integration Yes ASIC, FSCA, JSC, FSA, CMA Yes Min. Deposit Min. Trade Leverage $10 0.01 Lots 1:500
FXCM is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, FXCM is a popular choice. The broker is also FCA regulated and authorized in Australia and South Africa.
FXCM Copy Trading
FXCM offers social and copy trading on forex, CFDs and cryptos through the hugely popular ZuluTrade platform. The sign-up process is quick and you can track your performance in real-time.
Demo Account Regulated By MT4 Integration Yes FCA, CySEC, ASIC. Yes Min. Deposit Min. Trade Leverage $50 Variable 1:30
ForexChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.
ForexChief Copy Trading
Clients can follow copy trading signals on the MetaTrader platform. Alternatively, signal providers can generate extra income by selling their positions. You can start copy trading in a few easy steps.
Demo Account Regulated By MT4 Integration Yes VFSC Yes Min. Deposit Min. Trade Leverage $10 0.01 Lots 1:1000
MultiBank FX is an established broker offering forex and CFD products since 2005. With 20,000+ instruments, plenty of local payment methods and 24/7 multilingual customer support, the broker is a popular choice among traders globally. New clients can also access a variety of bonus offers and access the hugely popular MT4 and MT5 trading platforms.
MultiBank FX Copy Trading
Clients can start copy trading in three simple steps at MultiBank FX, gaining access to profitable online traders from around the world. Build a diverse portfolio while learning from experienced investors and saving time on market research.
Demo Account Regulated By MT4 Integration Yes SCA, MAS, CySEC, ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, VFSC Yes Min. Deposit Min. Trade Leverage $50 0.1 Lots 1:500
Pacific Union Prime is an FSCA and offshore-regulated multi-asset broker offering competitive fees and direct market access on forex, commodities, stocks, bonds and indices. The broker supports the popular MetaTrader 4 and MetaTrader 5 platforms and a proprietary mobile app. Fees vary by account type with no commission and spreads from 1.9 pips on the Standard account and $7 commission per lot and spreads from 0.4 pips on the Prime account.
PU Prime Copy Trading
PU Social enables clients to mirror the positions and strategies of expert traders. The app is available on iOS and Android devices and features a social investing network with thousands of traders.
Demo Account Regulated By MT4 Integration Yes FSA (Financial Services Authority of Seychelles), FSCA (Financial Sector Conduct Authority), SVGFSA (Financial Services Authority St Vincent & The Grenadines) Yes Min. Deposit Min. Trade Leverage $50 0.01 Lots 1:500
Errante is a Cyprus-based and regulated forex and CFD broker with leveraged trading on multiple assets, tiered accounts including a zero-spread option, and copy trading support. The broker offers leveraged trading up to 1:30 under its CySEC-regulated branch and 1:500 from an offshore branch, and supports the MetaTrader 4 and MetaTrader 5 platforms. Errante's asset list is relatively limited but it does offer fast execution and low latency, and it is a trustworthy brand.
Errante Copy Trading
The Errante copy trading solution allows users to choose from a selection of master traders with insights into their returns, volatility ratio, recovery factor, and more. There are also no restrictions on the number of traders you can follow.
Demo Account Regulated By MT4 Integration Yes CySEC, FSA Yes Min. Deposit Min. Trade Leverage $50 0.01 Lots 1:500
World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
World Forex Copy Trading
Use copy trading signals on MT4 to replicate strategies in your own live account. No additional fees apply and the platform is available via downloadable software plus a web-accessible solution.
Demo Account Regulated By MT4 Integration Yes SVGFSA Yes Min. Deposit Min. Trade Leverage $1 0.01 Lots 1:1000
FXPrimus is an award-winning CySEC-regulated brokerage offering CFD trading on 200+ instruments via the MetaTrader 4, MetaTrader 5 and cTrader platforms. The choice between a competitive commission-free account and two affordable raw spread options make this an accessible broker for anyone seeking forex, stocks, indices and commodities with high leverage.
FXPrimus Copy Trading
Replicate the success of other traders via the cTrader platform or the FXPrimus MAM solution. Traders retain control over their capital and can get started in a few easy steps.
Demo Account Regulated By MT4 Integration Yes CYSEC, MIFID, ICF, FCA, BaFin, VFSC Yes Min. Deposit Min. Trade Leverage $15 0.01 Lots 1:1000
FP Markets is an ASIC- and CySEC-regulated broker that offers forex and CFD trading on a broad range of assets through the MT4, MT5 and IRESS platforms. With trading available through standard and raw spread accounts on thousands of international stocks, forex, indices, commodities, cryptocurrencies, bonds and ETFs, this broker has some of the most comprehensive market coverage available. FP Markets also offers a full range of additional features, including educational resources and access to powerful software such as Autochartist.
FP Markets Copy Trading
FP Markets Social Trading app allows for the straightforward mirroring of established traders with an easy-to-follow ranking system.
Demo Account Regulated By MT4 Integration Yes ASIC, CySEC, ESMA Yes Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:30 (UK), 1:500 (Global)
AdroFX is an online forex and CFD broker with a beginner-friendly copy trading platform, zero commissions and tight spreads. The mix of fiat and crypto deposit options will appeal to global traders while the choice of 8 accounts will suit different trading strategies and styles. Traders also benefit from 11.07 millisecond execution times with minimal slippage.
AdroFX Copy Trading
Use the Allpips platform to copy the trades of successful investors. Thousands of traders have joined the social trading community and new users can get started with a $100 deposit.
Demo Account Regulated By MT4 Integration Yes FSA, BSSLA, VFSC Yes Min. Deposit Min. Trade Leverage $25 0.0001 Lots 1:500
Anzo Capital is an offshore broker that offers leveraged CFDs on 100+ instruments including forex, stocks, indices and metals. The MetaTrader 4 and MetaTrader 5 platforms are supported, and traders can choose between an STP account with spreads starting from 1.4 pips and zero commission, or an ECN account with a $4 round-turn commission and spreads from zero. A decent range of payment methods are accepted, including crypto deposits.
Anzo Capital Copy Trading
Copy trading is available through the popular third-party platform, Myfxbook. There is a $1000 minimum deposit for Anzo Capital clients and a $12 commission per lot round turn.
Demo Account Regulated By MT4 Integration Yes FSC, SVGFSA, FCA Yes Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:1000
Global Prime is a multi-regulated trading broker offering 150+ markets. Traders can get started with a $200 minimum deposit and trade with leverage up to 1:100. The firm also has a high trust score and a good reputation with a license from the ASIC.
Global Prime Copy Trading
Interact with and copy the trades of experienced investors with Global Prime's exclusive copy trading service. Over 40 different setups can be copied on the popular Myfxbook Autotrade platform.
Demo Account Regulated By MT4 Integration Yes ASIC, VFSC, FSA Yes Min. Deposit Min. Trade Leverage A$200 0.01 Lots 1:200
Hantec Markets is a UK-based multi-regulated broker offering CFDs on a range of forex pairs, stocks and indices as well as cryptocurrencies, commodities and bullion. With support for MetaTrader 4 and ZuluTrade, this broker provides good market access for traders of all experience levels, with competitive spreads from 0.2 pips.
Hantec Markets Copy Trading
International clients can use the ZuluTrade add-on for copy trading. This is one of the top-rated copy trading platforms with thousands of strategy providers to follow and mirror with straightforward risk management tools.
Demo Account Regulated By MT4 Integration Yes FCA Yes Min. Deposit Min. Trade Leverage $10 0.01 Lots 1:30
BlackBull is a New Zealand-based CFD broker with trading opportunities on forex, stocks, indices, commodities and cryptos. The broker supports the MetaTrader 4 and 5 platforms as well as TradingView and a proprietary mobile app. Clients can trade with high leverage and tight spreads from 0 pips on the broker's ECN accounts.
BlackBull Markets Copy Trading
Blackbull Markets offers an excellent selection of social and copy trading products on its CopyTrader system, plus HokoCloud, DupliTrade and Myfxbook. Traders can copy trades and strategies in a range of popular financial markets with user-friendly risk management tools.
Demo Account Regulated By MT4 Integration Yes FMA, FSA Yes Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:500
FXOpen is a multi-asset broker with regulation from several trustworthy bodies including the UK's FCA. The broker offers CFD trading on forex, stocks, commodities, indices, cryptocurrencies and ETFs via the MetaTrader 4 & 5 and TradingView platforms.
FXOpen Copy Trading
FXOpen offers copy trading, enabling users to follow and copy the positions and strategies of other traders. Myfxbook and ZuluTrade are supported, two of the highest-rated and easiest to use third-party copy trading platforms on the market.
Demo Account Regulated By MT4 Integration Yes FCA, CySEC, ASIC Yes Min. Deposit Min. Trade Leverage £300 0.01 Lots 1:30 (EU), 1:500 (Global)
Kucoin is a crypto exchange that offers trading on 1000+ tokens as well as leveraged trading opportunities via futures and perpetual swaps. This exchange has a slick trading platform that supports robots, allowing traders to implement automated strategies. Other attractive features include a demo account, flexible funding methods and DeFi features like staking and mining.
KuCoin Copy Trading
Kucoin offers copy trading via automated bots with low fees and instant deposits. The service will appeal to beginners new to crypto trading. Users can choose a suitable trader in the marketplace and select 'copy' to start mirroring positions.
Demo Account Regulated By MT4 Integration Yes No Min. Deposit Min. Trade Leverage $0 0.0001 Lots None
Admirals is an FCA- and ASIC-regulated broker with an excellent range of leveraged instruments, including forex, stocks, indices, ETFs, commodities, cryptos and more. The broker supports the MetaTrader 4, MetaTrader 5 and TradingCentral platforms. With both spread betting and CFDs available and thousands of instruments, this broker provides more flexibility than most rivals.
Admiral Markets Copy Trading
Admiral Markets offers an intuitive copy trading solution where subscribers can mirror the strategies of proven investors while setting their own stop loss and take profit limits in line with their risk appetite.
Demo Account Regulated By MT4 Integration Yes FCA, CySEC, ASIC, JSC Yes Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:30 (EU), 1:500 (Global)
TMGM is an ASIC-regulated forex and CFD broker with a vast range of tradeable assets covering forex, stock, index, crypto and commodity markets. The account types on offer provide a flexible choice between no commission or zero spreads, with competitive pricing all-round.
TMGM Copy Trading
Copy trading is available through HUBx, a service designed to help investors automatically mirror the positions of successful traders. This is ideal if you want hands-off access to popular financial markets.
Demo Account Regulated By MT4 Integration Yes ASIC, FMA, VFSC Yes Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:500
Pionex is a crypto trading platform that specializes in trading robots, offering a variety of ready made bots and strategies to traders as well as integrated AI to help customize a strategy or come up with your own. These can be used on spot crypto markets as well as crypto futures.
Pionex Copy Trading
Pionex clients can find other successful investors and copy their trading bot setups. This allows users to buy and sell cryptos 24/7 from a user-friendly platform and app.
Demo Account Regulated By MT4 Integration No FinCEN No Min. Deposit Min. Trade Leverage $0 0.1 USDT None
Infinox is a UK-based and FCA-regulated broker that offers diverse trading products thanks to its STP and ECN account types and support for MetaTrader 4, MetaTrader 5 and a proprietary platform. Clients can also benefit from a free VPS that can support automated strategies and a social trading platform, catering to both beginner and seasoned traders.
INFINOX Copy Trading
With IX Social (Infinox social trading), you can automatically replicate the trades of the best investors. On the negative side, the usability and choice of master traders lags behind competitors like eToro.
Demo Account Regulated By MT4 Integration Yes FCA, SCB, FSCA Yes Min. Deposit Min. Trade Leverage £1 0.01 Lots 1:30 (UK), 1:200 (Global)
Baxia Markets is an offshore CFD broker that offers trading on forex, commodities and indices with tight spreads on a straight-through processing model with ultra-low latency. Trade on MetaTrader 4 or MetaTrader 5 with leverage up to 1:500 and no restrictions to scalping or hedging strategies. Users also benefit from third-party copy trading services.
Baxia Markets Copy Trading
Baxia Markets has partnered with award-winning copy trading solutions; Zulutrade and Myfxbook. These are among the most well-regarded copy trading apps that connect aspiring traders to seasoned investors.
Demo Account Regulated By MT4 Integration Yes SCB, FSA Yes Min. Deposit Min. Trade Leverage $50 0.01 Lots 1:500
RoboMarkets is a Cyprus-based forex, CFD and stock broker aimed at traders from Europe. The broker offers thousands of instruments across six asset classes and provides access to four leading platforms, including MetaTrader 4. With ECN pricing, Cent accounts and algorithmic trading tools, RoboMarkets caters to a range of trading strategies and investing styles.
RoboMarkets Copy Trading
RoboMarkets offers a bespoke copy trading service - CopyFX. Clients can use the broker's leaderboard to pick traders and strategies to follow.
Demo Account Regulated By MT4 Integration Yes CySEC Yes Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:30 (Retail), 1:300 (Pro)
RaceOption is a binary options broker operating from the Marshall Islands. With over 1,500 clients, the broker aims to offer fast funding, low fees and a secure trading environment. Traders can access over 100 binary options and CFDs, plus copy trading and weekly prizes.
Raceoption Copy Trading
Replicate the positions and strategies of multiple traders while leveraging the RaceOption leaderboard. You can start copy trading in three fast steps and follow multiple traders simultaneously.
Demo Account Regulated By MT4 Integration Yes No Min. Deposit Min. Trade Leverage $250 $0.01 1:500
BinaryCent is an unregulated binary options broker that offers 24/7 trading on forex, cryptos and stocks with payouts up to 95%. Despite its lack of regulation, this broker takes client security seriously and stores client funds in European banks. The broker also offers CFDs with very high leverage up to 1:500.
Binarycent Copy Trading
The copy trading tool is available for all account types, including the lowest - Bronze. You can pick a trader based on their returns and ranking. The sign-up process is quick and account activation is instant.
Demo Account Regulated By MT4 Integration Yes VFSC No Min. Deposit Min. Trade Leverage $250 $0.01 1:500
Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Just2Trade Copy Trading
Copy other traders with a $100 starting payment. You only pay a commission on winning trades. Just2Trade ranks the top strategies and provides good insights into the number of subscribers, fees and monthly yields.
Demo Account Regulated By MT4 Integration Yes CySEC, NFA, FINRA, Bank of Russia Yes Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:20
FXCentrum is an offshore broker that offers highly leveraged, commission-free trading on diverse instruments with tight spreads. Traders can access forex, equity and commodities markets via MetaTrader 5 or the proprietary FXC platform and use the award-winning ZuluTrade platform for copy trading.
FXCentrum Copy Trading
Copy trading is available via the award-winning ZuluTrade platform. There are over 100,000 registered users and master traders, providing an array of trading opportunities and strategies to follow.
Demo Account Regulated By MT4 Integration Yes SFSA No Min. Deposit Min. Trade Leverage $10 0.1 Lots 1:1000
What Is Mirror Trading?
Mirror trading is a strategy that allows investors to automatically copy the trades of experienced financial market participants into their own accounts. The technique has been used since the early 2000s and is most popular in forex and stock markets. Mirror trading is available to retail investors through various means which we cover below.
Mirror trading differs slightly from copy trading in that it is usually fully automated, making it an easy system for beginners. With copy trading, investors still mimic top strategies but can often also manually amend and execute positions. The automated nature of mirror trading frees investors from making emotionally-charged investment decisions.
How Mirror Trading Works
Investors use brokers’ mirror trading platforms which work differently depending on the provider you sign up with. Mirror trading platforms often use software similar to MetaTrader 4 (MT4), for example.
Platforms that offer mirror trading list successful participating traders, known as ‘Masters’. Users can choose a Master who matches their own investment preferences such as technique (day trading) and asset type (forex, options, stocks, cryptos).
Importantly, users can select Masters based on their own risk parameters. From then on, whatever the Master trader does on their own account is automatically replicated in the client’s account. No intervention is required by the user as all activity is managed by the trading platform.
Another type of mirror trading involves a server or bot, known as an Expert Advisor (EA). The EA will execute trades for you using algorithms that react when certain patterns or trends appear in market data. Most platforms that offer mirror trading allow users to install an EA on their accounts.
Mirror Trading Regulations
Mirror trading is a legal practice and is regulated by various international authorities including the US Securities and Exchange Commission (SEC) and the Australian Securities & Investments Commission (ASIC).
The UK regulator, the Financial Conduct Authority (FCA), supports the European Securities and Markets Authority (ESMA) view as to how mirror trading fits within the MiFID directive. According to the FCA, mirror trading fits within MiFID’s definition of portfolio management. Therefore, brokers may offer the service so long as they abide by relevant licensing rules.
Pros Of Mirror Trading
- Suitable for beginners
- Legal and regulated in the UK
- Limited time and effort required
- Automated so limited emotional decision making
Cons Of Mirror Trading
- Losses are mirrored too
- Difficult to assess overall risk
- Less control over your own portfolio
How To Start Mirror Trading
Choose A Broker
To start mirror trading, you need to register with a broker that offers the service. We always recommend choosing a brokerage with strong customer support, positive user reviews, fast withdrawals and multiple Masters to choose from.
It’s also worth selecting a trusted provider that protects your personal information including contact details and address, as well as offering secure 2FA login. Popular options that offer mirror trading include JFD Bank and the XM Group.
Download A Platform
Brokers that offer mirror trading through a third-party platform like MetaTrader 4 will need you to download or install the software from their website. Some providers also offer a digital login for web trader solutions. An increasing number of mirror trading providers, such as eToro, also offer mobile investing.
Pick A Strategy
There are a couple of ways to be successful at mirror trading: copying Master traders or relying on algorithmic software that assesses market trends. There are positives and negatives to both. Arguably traders have already analysed their own risk appetite and found a technique that compliments their profit objectives. However, algorithms remove emotion from trading and can spot trends quicker than a human.
We cannot assess the level of risk that you are willing to take so we always recommend taking the time to think about this before trading with real funds. One piece of advice is to choose a trader whose aims are aligned with your own.
You should aim to understand the success of the method you’re choosing to invest in. We’d recommend running an Expert Advisor on a demo account before investing real funds. There should be enough backtesting data to help you make an assessment, meaning there is proof that the algorithm could be profitable. Master traders’ results are also posted on platforms so viewing their trading success and history should be straightforward.
Mirror Trading Fraud
It is important to note that the following mirror trading fraud cases are a different type from those discussed in the rest of this article. With that said, having an understanding of the dangers posed may help you take a careful approach to risk management.
Mirror Trading International
Mirror Trading International Limited (MTI club), registered in South Africa, used its online trading platform to trade Bitcoin. However, cryptocurrency-related investments were not officially regulated in South Africa and many investors lost money.
Mirror Trading International always denied it was a scam and heavily promoted itself on Twitter and Facebook via influencers in the crypto community. There are claims that the company used false testimonials and reviews by paid members to attract innocent investors.
A significant attraction of Mirror Trading International was its growth calculator which showed investors enormous projected returns. In addition, videos posted on its YouTube channel explain MTI’s referral program which offers its investors referral, binary, or leadership bonuses.
In mid-2020, a panel in the US issued a cease-and-desist order against MTI for operating a pyramid scheme. Mirror Trading International collapsed and its website (www.mirrortradinginternational.co.za) went down meaning investors couldn’t make withdrawals.
Blockchain analysis firm, Chainalysis, released a crime report that named Mirror Trading International as the biggest cryptocurrency scam of 2020 after raking in $589 million which its CEO disappeared with. According to News 24, Mirror Trading International Ltd was placed into provisional liquidation in January 2021 after it stopped paying out funds to its thousands of members.
Mirror Trading & Money Laundering
Anti-money laundering (AML) regulators have paid close attention to mirror trading activities in recent years. In January 2017, mirror trading made the news concerning Deutsche Bank (DB) and Russian money laundering of around $10 billion.
Russian rubles were used to buy blue-chip stocks. The same value of identical Russian stocks was sold in London for US dollars and other currencies with the same bank—DB. The Russian buyer of the shares and the seller—offshore entities in Cyprus and the BVI—had the same beneficial owner. This ultimately created a money laundering pipeline that continued undetected for years.
Deutsche Bank’s compliance department was ultimately responsible for ignoring the red flags and identifying the beneficial owners of the companies executing the mirror trades. The bank was fined a total of $630m by the UK’s FCA and US regulators after it was alleged that the former Director of the bank’s Russian trading desk had accepted bribes in exchange for overlooking the questionable trading activities between 2011 and 2014.
Final Word On Mirror Trading
The term ‘mirror trading’ has been tarnished in recent years by the fraudulent activities of companies and individuals. In reality, when executed correctly, it can be a successful strategy. However, while handing over control of your portfolio is an attractive prospect, success is not inevitable and you should always do your own risk assessment. Ultimately, mirror trading is a good starting point for inexperienced traders looking to learn the ropes.
Does Mirror Trading Work?
Mirror trading is a strategy that can be successful when applied correctly. However, when choosing a method and broker, make sure that the Master trader you copy is aligned to your preferences, especially risk tolerance, and has a proven successful track record. If using an algorithm or EA, do your research and check that it’s been properly backtested before linking it to your account.
How Do I Start Mirror Trading?
Firstly, choose a broker that offers mirror trading on its platform, such as AvaTrade, eToro, JFD Bank, or Pepperstone. You can then copy the strategies of successful traders based on asset, strategy, and risk appetite. Whatever the trader does on their account will be automatically replicated in yours.
Is Mirror Trading Legal?
Yes, mirror trading is legal and is regulated by most international financial authorities including the UK’s FCA. It’s also important to open an account with a UK-regulated broker to reduce the risk of online scams.
Is Mirror Trading Safe?
As with traditional investing, there is always going to be a risk when mirror trading. Knowing your own risk appetite is important before you start authorising automatic trades. Fortunately, you can usually check a Master trader’s track record or use an Expert Advisor that has been backtested before making a decision.
Is Mirror Trading A Pyramid Scheme?
Mirror trading allows investors to automatically execute and replicate a selected trader’s strategy or an automated bot’s algorithm. This is not to be confused with the fraudulent South African investment company, Mirror Trading International Limited. Its Bitcoin trading website was named the biggest cryptocurrency scam of 2020 after accumulating $589 million which its CEO vanished with. MTI was a pyramid scheme in that it paid its user base to recruit new investors.