6 Underrated Apps and Platforms For Copy Forex Trading You Need To Know
by Abdul Aziz Mondal Finance Published on: 28 October 2022 Last Updated on: 06 November 2024
The art of “copy forex trading” has existed since immemorial.
Also called “copy trading,” it is a method of copying another forex trader who is more knowledgeable in the trade to increase your knowledge in the trade to make more profit. Traders who engage in this act might prefer to copy an individual or reputable copy trading platform.
Most individuals who offer this guide to other traders (mostly amateurs) do it for free, but most platforms don’t. Most of these copy trading format comes as signals, and few companies out there share their signals freely for public consumption.
One of them is Telegram Forex; you can always find free Telegram Forex signals on their platform; you just need to go through the usual sign-up process.
A Brief Review of Major Copy Forex Trading Apps and Platforms
The process of modern copy trading lies mostly with companies that provide working signals to their subscribers. Traders who have subscribed to platforms like this are presented with trading signals, signals that contain the buying and selling structure of the company’s trade.
Most of these copy trading providers also let members connect with Forex brokers, where they will automate their forex trading activities. And as popular as most of these companies are, there are still others out there that are not making it into the limelight but provide very effective copy trading signals. Check them out below.
1. AvaTrade
This is the most innovative copy trading app that allows members to connect with regulated world-class forex trading brokers who provide the most effective copy trading signals.
Although grossly underrated, this app allows traders to choose whether they want to go for direct and indirect copy trading options or collaborate with top trading signal providers to choose from the most performing trades around the world.
2. ZuluTrade
Because of the reputation, Zulutrade has created in the area of commodity, stock, forex, and crypto trading, not every trader believes that their copy forex trading niche is worth checking out. But the truth remains that this app operates one of the best copy trading platforms in the world.
Currently, the app has over two hundred and fifty thousand top forex traders community where traders can easily interact with colleagues and brokers and share relevant copy trading signals.
3. Duplitrade
As popular as this app platform is, and with its global penetration, traders still underrate its ability to deliver working copy trading signals. Duplicate is responsible for connecting individual copy trading providers with potential clients through broker partnerships.
It also allows members to trade assets using an advanced trading pattern. The platform has 12 brokers listed on their platform already and has included some familiar (yet underrated) trade copying platforms like Pepperstone and AvaTrade in their operations.
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4. Forex Copier
Even with its presence in 122 countries and used by over 4000 traders, Forex Copier has remained one of the most underrated copy forex trading providers in the industry. The company allows users to engage in local and remote copy trading activities.
It is designed so that members can purchase or sell trading signals to or from other traders; it is more like a platform that brings together the community of copy-trading buyers and sellers. Again, sellers on Forex Copier can also choose to automate this action.
5. Pepperstone
This app is popular for its role of providing a summarized, credible trading broking. It is also seen as one of the platforms with the lowest trading risk. It is the most less expensive, too; it offers the most competitive pip spreads and trading fees in the industry.
But not too many traders take its copy trading signal section seriously. The company provides its members access to its three known copy-trading services:
a. MyFxBook.
b. MQL5.
c. DupliTrade.
6. PrimeXBT Copy Trading
This app is not only known for its simple user interface, micro lot trading, and tradable instruments, but it is also the most outstanding, yet underrated copy forex trading app so far. It is also recommended for traders looking forward to automating their trading and accessing the international forex market using multi-asset trading mediums.
Conclusion
The art of copy trading is strongly recommended by forex newbies who are still struggling to comprehend the nature of the best strategy to apply. It is also a good learning process for professionals already in the field: it’s a good way for them to update their old knowledge and know what others are doing differently.
Finally, it is never wise to underrate a copy trading platform because it lacks popularity. There are many underrated ones out there, the ones we just mentioned are the most obvious; you have to find them and make the best of them.
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