21/10/ · Yes, copy trading is legal in the U.S. – provided that your broker is properly regulated by either the Commodity Futures Trading Commission (CFTC) in the case of forex 6/4/ · Copy trading – is it ld legal in the U.S. It is legal for traders in the U.S. to carry out copy trade. Should the broker you choose be properly regulated by either the Commodity 14/11/ · Best Forex Trading Platform in the US Find out the brokers with the top trading platforms in the US MetaTrader 4 With OANDA - Best US Forex Trading Platform IG - Best ... read more
This is especially the case if your chosen forex EA takes a day trading strategy. After all, Libertex charges tight spreads - so the EA can target modest but frequent gains without getting hammered by indirect fees. Libertex also offers commission-free trading on many stock CFDs. Other assets come with a commission that typically sits below 0.
With that said, it's also worth using the Libertex demo account facility first and then linking this to MT4. In doing so, you can test your chosen forex EA out in a risk-free manner.
Visit Libertex Now. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Meta Trader 5 MT5 is the younger counterpart to MT4. This third-party trading platform works much the same as MT4 - albeit, it is often used by those looking to CFDs as opposed to just forex.
MT5 also comes with more advanced charting tools and technical indicators - and just like MT4, offers full support for forex EAs and automated trading robots. With that said, MT5 also offers a fully-fledged mirror trading feature that in many ways - works in a similar way to eToro. This is because you can browse through thousands of traders that use the MT5 platform and then elect to copy their ongoing trades like-for-like. MT5 charges a monthly subscription fee for this that will vary depending on your account and the specific trader you are copying.
Alternatively, you also have the option of obtaining a forex EA or robot from a third-party platform and then installing it into MT5. Either way and much like MT4 - MT5 is a trading platform that sits between you and your chosen broker. As such, you will need to find a suitable brokerage site that is compatible with MT5.
One of the best MT5 brokers that we came across is FinmaxFX. This CFD trading platform offers everything from forex, stocks, and cryptocurrencies to metals, energies, and bonds. Perhaps the main draw with FinmaxFX is that is a high-leverage MT5 broker. For example, while retail traders in the UK, Europe, and Australia are capped to just on major forex pairs, FinmaxFX offers leverage of up to up to A leverage of is also offered on indices and gold.
Non-gold commodities and bonds can be traded with leverage of , stocks at , and cryptocurrencies at Although you need to tread with caution when using such high levels of leverage, this allows you to engage in a copy trading strategy with a small amount of capital.
Additionally, your chosen MT5 copy trader or forex EA might take scalping or day trading strategy - meaning that it will target small gains. As such, leverage via FinmaxFX ensures that your financial gains are viable. Mirror Trader is an innovative copy trading tool developed by Tradency. This particular tool is different from the other providers we have discussed thus far - as you will be basing your mirror trading decision on a specific strategy as opposed to selecting an individual trader.
This allows you to automate your trading endeavors based specifically on your desired strategy. For example, you might come across a strategy that focuses on scalping. This will see the copy trading tool place dozens of low-risk buy and sell positions throughout the day when an asset is stuck in a tight pricing range.
Alternatively, you might decide to copy a strategy that focuses on breakouts. This is when an asset smashes through a previously identified resistance level. Either way, there are heaps of strategies offered by the Mirror Trading tool.
You can easily review each strategy in great detail - by looking at its average monthly gains, risk rating, return on investment, maximum drawdown, and more. With that said, Mirro Trader is a third-party add-on, so you will need to link it up with a supported online broker. Once again, AvaTrade is a good option here - which we discussed in detail in our earlier section on ZuluTrade.
When it comes to fees, Mirror Trading itself doesn't charge anything to use its copy trading tool. Although some brokers charge an additional subscription to link your Mirror Trading account, AvaTrade offers this on a fee-free basis. As AvaTrade is a commission-free broker, this means that the only trading fee you need to factor in is the spread. Much like MT4 and MT5, cTrader is a third-party trading platform that sits between you and your chosen brokerage site.
The platform is particularly popular with advanced traders that need access to advanced order types, fast entry execution, and Level 2 pricing fees. With that said, cTrader is also behind a growing community that consists of both newbies and seasoned pros alike. This is because experienced traders can broadcast their proven strategy to the cTrader platform and in turn - this can be copied like-for-like. This is a win-win situation, as newbies get to trade in a fully automated manner while the strategy broadcaster will earn a commission.
Once you have chosen an investment strategy to follow, you can then set up risk-management tools to suit your financial goals. For example, you can elect to apply leverage on your positions or set a maximum stop-loss price.
There is full transparency on cTrader, meaning that you can view the historical trading results of your chosen strategy broadcaster before taking the plunge. There are two ways in which you might be charged to copy a strategy via cTrader. In some cases, this is based on volume - so the more you invest the less you will pay.
In other cases, you will pay a performance fee. This means that the more the trader makes you, the more they make themselves. Either way, cTrader is a third-party add-on that you need to link with a compatible brokerage site. We found that the best copy trading platform for this purpose is Pepperstone. This popular cTrader broker specializes in low-cost CFD instruments. This includes everything from forex and gold to stocks and indices. There are no fees charged by Pepperstone to use cTrader, which is great.
In terms of actual trading commissions, this depends on the account you decide to open - of which there are two to choose from. The 'Standard account is commission-free, with all fees built into the spread. The 'Raw' account comes with 0 spreads, but a fixed commission. The exact commission depends on the underlying currency of the asset you are trading. Pepperstone is also a great choice as the platform has been around since and is regulated by the FCA. Duplitrade offers a similar service to Mirror Trader, insofar that you will have access to a wide variety of trading strategies - all of which you can copy like-for-like.
With that said, we found that Duplitrade has a broader scope of strategies on its platform - making it ideal for diversification purposes. To give you an idea of some of the strategies offered by Duplitrade, one option that you might consider is the 'Major' system. This copy trading strategy makes buy and sell decisions through technical indicators such as the RSI, ADX, and Parabolic SAR. Another popular copy trading strategy at Duplitrade is that of the 'Robust' system.
On top of major forex pairs, this also focuses on gold and indices. This strategy will focus on mean reverting points and breakouts in a fully automated manner. In terms of getting started, Duplitrade requires access to your chosen brokerage account. Once again, we think that Pepperstone is the best option in this respect - due to previously discussed low commissions and spreads on offer.
This allows you to take a more risk-averse approach to automated trading. Attempting to get your head around copy trading platforms can be a daunting task. On the one hand, you have simple platforms like eToro - which offers everything in-house. That is to say, you simply need to open an account with the broker, deposit funds, and then select which traders you wish to copy. On the other hand, you then have copy trading providers like MT4, MT5, and cTrader - all of which are third-party platforms as opposed to brokers.
As such, you then need to find a suitable brokerage site and connect this to your chosen copy trading platform. Taking these complexities into account, the sections below will explain how the best copy trading brokers work. First and foremost, let's start with the basics.
Copy-trading does exactly what it says on the tin. That is to say, you will be 'copying' another trader that is actively involved in the financial investment scene. If the same trader then decides to short-sell Facebook stocks, again, you will do the same.
The main concept here is that you can actively trade without needing to do any of the legwork. This is because your chosen copy trader will make all investment decisions. This includes the end-to-end process of analyzing the markets, performing research, and placing orders. In turn, any profits or losses that your chosen copy trader makes will be reflected in your own brokerage account.
This will, of course, be at any amount proportionate to what you have invested - and there be might some fees or commissions involved. Of course, not all trades like the example above will result in financial gain.
The key point here is that everything that the trader does is mirrored like-for-like in your own portfolio. As such, both profits and losses need to be taken into account. In reviewing the best social trading platforms for - you might have noticed that there are many different ways in which you can get involved.
To ensure you select a copy trading system that best meets your needs, we would suggest reviewing the following sections. eToro is unique in the sense that it offers an 'all-in' copy trading feature. By this, mean that eToro is primarily a regulated brokerage site that allows you to buy, sell, and trade assets without paying any commission. Its copy trading tool is therefore an add-on that is offered in-house. Crucially, this means that there is no requirement to use a third-party platform like MT4 or download automated trading software.
Instead, you simply need to open an account with the broker and choose a verified investor that meets your financial goals and tolerance for risk. We explain how to choose a copy trader at eToro shortly - but for now, let's look at a quick example of how this tool works in practice. As you can see from the above, the eToro is the best copy trading platform to use as everything is conducted on a single platform.
Plus, all financial instruments are traded commission-free and there is no surcharge or performance fee to use the copy trading tool. The next copy trading option that you have at your disposal is to utilize an automated robot. Otherwise referred to as a 'bot' or 'EA', the best trading robots are pre-programmed by third-party developers and backed by an algorithm. This in itself is a major advantage, as human traders will only be able to dedicate a certain amount of time per day.
On the flip side, the main drawback with automated robots is that they are somewhat intransigent. This is because they can only follow pre-programmed code - so have no understanding or knowledge of financial news or fundamental analysis. Additionally, robots and automated software programs need to be installed into a third-party platform like MT4, MT5, or cTrader.
This means that you will also need to find a suitable brokerage site and connect it to the respective platform. Another great option to consider in your search for the best copy trading platform is a forex signals service provider. This allows you to copy trade but in a semi-automated manner. In its most basic form, your chosen signal provider will send you trading suggestions that are formulated through its own independent research and analysis.
As you can see from the above, you are copy trading in a semi-automated manner because you first need to decide whether or not you wish to act on the signal. Then, you will need to head over to your chosen broker and place the suggested orders. This option is potentially more suited for those of you that wish to copy trade in a more controlled manner, as opposed to automating the entire process.
You might also consider copying a specific trading strategy as opposed to mirroring an individual investor like-flor-like. This is a service offered by third-party trading platforms like Duplitrade and Mirror Trader. Both of these providers offer a wealth of different strategies - most of which focus on short-term day trading or scalping. You can select a strategy based on its past performance or the respective financial instrument. You can also select a strategy based on risk and its return on investment since hitting the live markets.
Much like a forex EA or automated robot - this copy trading strategy requires you to engage with multiple stakeholders. For example, not only do you need to open an account with a provider like Duplitrade, but you then need to select a specific strategy.
And of course, you will also need to find a suitable online broker that offers support for your chosen copy trading provider. Although copy trading allows you to take a hands-off approach to invest, you still need to put a little bit of groundwork in. This is because you need to spend some time researching the many copy traders that your chosen platform offers. In fact, when using a top-rated provider like eToro, you'll have access to tens of thousands of verified investors - so you need to know what to look out for in choosing the best trader for your financial goals.
To help clear the mist - below we discuss the most important factors to consider when searching for the best traders to copy. Perhaps the first port of call is to think about which assets you wish to passively trade. For example, are you looking to copy a seasoned day trader that focuses on forex, or a long-term buy and hold investor that specializes in stocks?
Or, maybe you want exposure to the cryptocurrency trading scene or a volatile commodity like gold? Either way, it's best to stick with a trader that is actively involved in your preferred asset class. Once you have filtered down by your chosen asset class - it's then time to focus on performance. After all, you'll want to be copying the very best copy traders in the industry. The only way to do this is to look at the trader's historical performance.
At eToro, you can specify two key metrics to find a top-rated trader that meets your goals - which are listed below. In entering your requirements, eToro will only show you traders that meet this criterion. Many of the copy trading platforms that we reviewed today make it somewhat difficult to assess how much risk you are taking by selecting an investor. Sure, you might have access to the maximum drawdown percentage, but this in itself doesn't give you a clear idea of how much risk the respective trader typically likes.
To use copy trading, you may consider trading with broker eToro. Due to its long-standing trusted reputation, this company is the choice of many copy trading users around the world. Also, eToro is heavily regulated by credible agencies from the UK, and Australia.
ZuluTrade is also a great copy trading choice. Remember that ZuluTrade is a different platform for copy trading used by many brokers. FXCM, Swissquote, Pepperstone, InstaForex, Oanda and FXDD are among those brokers.
This was an incredibly wonderful article. Thanks for supplying this information. Deina Ignacio Morly. Your email address will not be published. eToro — US Forex broker The first item in our list is eToro. ZuluTrade Trading Company While Forex brokers are a popular choice for copying trades, many are also ZuluTrade fanatics.
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Looking for a copy trading USA platform that you can use while being a USA resident can be difficult and at times very confusing. Many social trading platforms do not accept US residents.
This article will give you the reason platforms like eToro do not accept US residents, and why Zulutrade is the best alternative. copy trading usa. eToro just like most social trading platforms provides its service using a contract for difference system CFD. CFD allows you to invest in assets such as stock and forex without having to own the asset itself. A problem arises because over the counter financial instruments, such as CFDs are heavily regulated by the SEC.
According to the USA government, this type of investing is too risky and borderline gambling, due to illiquid assets and the ability to use leverage. Zulutrade just like eToro is a social trading platform with thousands of traders and investors; however, unlike eToro it does accept USA residents copy trading usa. Zulutrade is the only major social trading platform that lets Americans directly follow other traders.
Though there are still some restrictions. com are experts on Zulutrade and have been helping investors for years. On their site you can find:. If you want to experience the platform without risk and for free open a Demo Account. You also get to be a part of largest network of investors in the world.
Our Recommendation If you have experience, start with Zulutrade using Zulu4me. Your capital is at risk. If you need more information do not hesitate to contact us , it will be a pleasure to assist you. Remember that you have all the information about copy trading in our sections:. Open a demo in eToro with us and enjoy premium advantages on our website. Open a demo in Zulutrade with us and enjoy premium advantages on our website. Do you want to receive news, offers, promotions… and much more?
Currency trading with leverage implies an important risk for the investor and there is always the possibility of losses. These instruments carry a high risk if they are not managed properly and a profit can quickly become loss as a result of price changes. Due to the risk factor inherent to this type of trade, only funds intended for risk investments should be used. If you do not have extra capital you may be willing to lose, you should not trade in the forex market. It has never been proven that there is any system or portfolio of systems that is completely safe and no one can insure future profits or losses.
Before you start trading in the forex market you should think carefully about your goals as an investor, your level as an investor and your risk aversion to determine if this is the type of investment you want to make. If you are in doubt you should seek advice from a professional financial advisor to advise you about the investment.
Home Copy Trading Contact. The Best Copy Trading USA, eToro Alternative. GET STARTED WITH ZULUTRADE. GO TO LEARN ZULUTRADE. BACK TO BLOG. Why eToro Does Not Accept USA Residents.
Zulutrade Is The Best USA eToro Alternative. While non-US residents can choose from 10 to 30 platforms, US residents have two choices: Forex. com and FXCM. Both of these brokers work well and will not put you at a disadvantage. US residents are restricted to only opening one trade pair at a time because Zulutrade cannot control the trader signals. Which means you should look for a trader who normally opens one trade at a time. If you copy traders with many open positions, your results will differ significantly from the trader you are copying.
We Recommend Going To Zulu4Me. On their site you can find: How to open a real or free Demo Account. The Best Traders by respective categories. Informative and simple Reviews and Guides. The latest and greatest when it comes to Zulutrade information.
Zulutrade : Best Copy trading USA platform. Start for Free. Markets : Forex, Crypto, CFDs, Commodities. Accept clients from the USA. Get Started with Zulutrade.
Remember that you have all the information about copy trading in our sections: Platforms : Information of each of the platforms of copy trading. Go to Platforms Guides : The best guides on copy trading.
Go to Guides Reviews : Best reviews on copy trading platforms. Go to Reviews AllCopyTrading Team. Open Demo. Sign up in here and be part of the huge copy trading community. We do not spam. Choose a Platform. Be an expert. Get Started Here. Do you want to start with our step-by-step guides? Step-by-Step Guides. If you like our work, please share it to say thanks :.
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14/11/ · Best Forex Trading Platform in the US Find out the brokers with the top trading platforms in the US MetaTrader 4 With OANDA - Best US Forex Trading Platform IG - Best 21/10/ · Yes, copy trading is legal in the U.S. – provided that your broker is properly regulated by either the Commodity Futures Trading Commission (CFTC) in the case of forex 6/4/ · Copy trading – is it ld legal in the U.S. It is legal for traders in the U.S. to carry out copy trade. Should the broker you choose be properly regulated by either the Commodity ... read more
Forex copy trading platforms comparison Using our forex brokers comparison tool , here's a summary of the trading platforms offered by the best copy trading brokers. NADEX Trading Platforms Available Formats: mobile app, desktop NADEX account holders can trade options and knockouts on either a mobile or desktop platforms for enhanced freedom and flexibility. Submit Details. You can easily review each strategy in great detail - by looking at its average monthly gains, risk rating, return on investment, maximum drawdown, and more. If you do come across a broker not based in the US, check their FAQs, or send them a message to see if they accept US traders. No Inactivity Fees.That said, commission costs decrease the more you trade, in keeping with an account designed for professional traders. Scroll down to read our in-depth review of each provider! Below you find a breakdown of the best copy trading platforms for IG Accounts and Products Forex copy trading in usa that, due to state-level regulatory restrictions, IG is not available to residents of Arizona or Ohio. To run on mobile you need a VPS. Copy trading can be a great idea if you wish to actively trade in a passive manner. Copy Trading.